This document categorizes and summarizes North American rare earth element (REE) companies. It divides the companies into four categories: 1) development and exploration heavy rare earth element companies like Avalon Rare Metals and Quest Rare Minerals, 2) dual REE and metal resource companies like Commerce Resources with tantalum/niobium and Rare Element Resources with gold, 3) investment vehicles like exchange traded funds that invest in REE companies, and 4) integrated companies like Great Western Mineral Group that mine to market REEs and Neo Material Technologies that produces magnetic powders from REEs. It also lists restart-up companies seeking to resume production like Molycorp Minerals and Stans Energy.

1. Categorization of North American REE Companies This brief report has chosen in some degree to summarize website descriptions that REE companies use to tell about themselves. It then goes on to categorize them through comparison. Several models may be possible which highlight different aspects of these companies. Submissions of other models are welcome as well as your input on this model.

2. Development and Exploration HREE Companies Avalon Rare Metals Advanced large development stage project enriched in HREE. Quest Rare Minerals Exploration company with a large REE resource that is rich in HREE. Ucore Rare Metals Exploration company whose flagship property has prolific HREE and LREE resources as well as U308 reserves.

3. Dual REE and Metal Resources Commerce Resources Rare Element Resources Exploration and development company with strategic deposit of tantalum and niobium. One of the largest light and heavy REE resources in North America as well as extensive gold occurrences. Focuses on exploration and development.

4. Investment Vehicles Dacha Strategic Metals Rare Earth /Strategic Metals ETF Buying, holding and selling of strategic REE minerals which are predominantly supplied by China. Market Vectors Rare Earth/Strategic Metals ETF lists on the New York Stock Exchange under the symbol (NYSE:REMX). It replicates as closely as possible the price and yield performance of the Market Vectors Rare Earth/Strategic Metals Index.

5. Integrated Companies Great Western Mineral Group Integrated rare earths processor with Mine to Market strategy and strong balance of heavy and light REE. Neo Material Technologies Neo Material Technologies Inc. engages in the production, processing, and development of neodymium-iron-boron magnetic powders (neo powders), rare earth, zirconium based engineered materials and applications, and other metals and their compounds.

6. Restart-up companies Molycorp Minerals Mine to Magnet strategy through restart of mining operations and production of metal, alloys and NdFeB magnets. Stans Energy Exploration and development company modernizing milling process of past producing REE mine.