TASMAN METALS LTD

1. Moving from discovery to development of one of the worlds major REE resources TASMAN METALS LTD Uniquely placed, exploring for high value critical metals in Europe Mark Saxon – President & CEO msaxon@tasmanmetals.com www.tasmanmetals.com

2. Corporate Disclaimer Some of the statements contained in the following material may be "forward-looking statements." All statements, other than statements of historical fact, that address activities, events or developments that Tasman Metals Ltd. (“Tasman”) believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Tasman based on information currently available to Tasman. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Tasman to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Tasman. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete intended financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world metal markets, changes in equity markets, changes in laws or regulations, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from government authorities, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Tasman disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Cautionary Note to U.S. Investors Concerning Mineral Resources and Reserves: In this presentation, the definitions of “mineral resources” are those used by the Canadian securities administrators and conform to the definitions utilized by CIM in the “CIM Standards on Mineral Resources and Reserves – Definitions and Guidelines” adopted on August 20, 2000 and amended December 11, 2005. The standards employed in estimating the mineral resources referenced in this presentation differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”) and the resource information reported may not be comparable to similar information reported by United States companies. The term “resources” does not equate to “reserves” and normally may not be included in documents filed with the SEC. “Resources” are sometimes referred to as “mineralization” or “mineral deposits.” While the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are recognized and required by Canadian regulations, they are not defined terms under standards in the United States and normally are not permitted to be used in reports and registration statements filed with the SEC. The terms “mineral reserve,” “proven mineral reserve” and “probable mineral reserve” are Canadian mining terms as defined in accordance with NI 43-101 and the CIM - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time by the CIM. These definitions differ from the definitions in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”) under the Securities Act of 1933. As such, information contained in this presentation concerning descriptions of mineralization and resources under Canadian standards may not be comparable to similar information made public by United States companies in SEC filings. The estimation of measured, indicated and inferred mineral resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned (i) not to assume that measured or indicated resources will be converted into reserves and (ii) not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. It cannot be assumed that the Company will identify any viable mineral resources on its properties or that any mineral reserves, if any, can be recovered profitably, if at all. The qualified person for the Company's exploration projects, Mark Saxon, President and Chief Executive Officer of Tasman and a Fellow of the Australasian Institute of Mining and Metallurgy and Member of the Australian Institute of Geoscientists, has reviewed and verified the contents of this presentation.

3. Tasman’s Corporate Vision “To provide the foundation to a long lived and sustainable European rare earth element supply chain” REE’s provide the ideal material properties for modern society …..… Efficiency enhancement Weight reduction Access to E - mobility Emission reduction Miniaturisation Durability Performance ..….. a European supply chain will be sustainable, secure and have a low environmental impact, so REE’s can be engineered for generations to come.

4. Tasman Snapshot 100% ownership of two of the worlds most significant heavy rare earth element projects in a safe and stable mining jurisdiction 100% ownership of northern Europe's largest historic tungsten producer with extensive exploration assets

5. Standing out from the Crowd • Canadian company focused on “high-tech” metals in particular Rare Earth Elements (REE) in Europe ; • Tasman owns 100% of two Canadian Institute of Mines (CIM) compliant REE resources within the European Union ; • Flagship project is Norra Karr, the 4th largest heavy REE (HREE) deposit in the world. One of the highest percentage of HREE to TREE at over 50% ; • Secondary project is Olserum, with a simple mineralogy supporting a well established flow sheet ; • Projects have excellent on site infrastructure with power, roads and water on site as well as rail within 20km. Sweden is a mining country; • Norra Karr has a 40 year mine life or more. Deposit remains open at depth. Recently published very positive PEA – NPV of $1.46 billion (#) with conservative metal pricing. • Tasman was recently granted a Mining Lease for Norra Karr, which gives Europe the opportunity to be the leader in HREE from 2016 ; • Completed $5 million over-subscribed financing in February

6. Tasman – Capital Structure • SHARES ON ISSUE: 64.8 M • FULLY DILUTED: 72.1 M • RECENT PRICE: C$ 1.60 • 52 WK HIGH/LOW: C$2.08/$0.51 • MARKET CAP: C$ 82.9 M • CASH (March 2014):C$ 9.1*M • ENTERPRISE VALUE: C$ 78.5 M • CANADA: TSXV: TSM • NYSE-MKT:TAS • FRANKFURT: T61 • DAILY TURNOVER:50,000 shares • INSIDERS: 16% • MAJOR SHAREHOLDERS: NEW YORK • SWITZERLAND • ANALYST COVERAGE 3 BROKERS • PEER COMPANIES: TSX: AVL, QRM • ASX: NTU * Recently closed $5 million financing @ $1.10

7. REE’s – What Are They ? • Rare Earth Elements (REE’s) are 15 metals that occur naturally in the environment ; • They have unique chemical characteristics that place them in demand for green technology, energy efficiency and medical applications ; • 97% of REE supply is currently from Chinese mines ; • REE’s are often classed as HEAVY or LIGHT based on chemical characteristics ; • HEAVY and LIGHT REE’s have markedly different prices due to availability, cost of production and demand ; • REE’sdo not occur in nature in same ratio they are consumed. There is no one single market for all REE’s ; Source: Metals Pages, Aug 2013

8. REE Price History 2010 - 2013 “REE prices will stabilize, reflecting a “new REE paradigm”. This new paradigm shall be based on industrially acceptable pricing, and incorporate the environmental costs of the Chinese REE industry, whilst placing value on a secure REE supply chain.” Long Term $2 - 8 Long Term $60 - 100 Long Term $600 - 800 Long Term $20 - 50 Source: Metals Pages, 2013 • Heavy REE pricing is stabilizing at 100 – 300% above 2010 prices. No Western world supply anticipated before 2016; • Light REE pricing is stabilizing at lower levels, due in part to stable supply from Lynas Corp (11,000 tpa) and Molycorp (19,050 tpa) ; • The price peak/scare of 2011 was short-lived, when consumers relied upon stockpiles. Some permanent Ce and La market was lost due to a greater investment in REE recycling in the glass polishing industries ;

9. Application of REE Permanent Magnets Jack Lifton, REE Industry Commentator : “Norra Karr is the most important deposit Cellular Phones in the western world for permanent magnets” 10 – 30 g REE magnets per unit Hard Drives Automotive Aeronautical Power 500 -1000 kg REE magnets per unit Wind Turbines Domestic Long term low cost supply has lead to the Air Conditioning Medical intensive use of REE magnets

10. Application of REE Permanent Magnets Electric motors account for 45% of energy consumed, as mechanical energy is converted to electrical energy REE Bearing Permanent Magnet Motors are up to 20% More Efficient than Induction Motors And today's magnets are smaller still….

11. Tasman – A Unique Setting Light REE Resource Project Heavy REE Resource Project

12. Potential Heavy REE Sources REE Resource Projects with Grade > 0.1% : Projects Sorted by Contained HREO Projects lie in northern parts of Canada and Greenland, requiring substantial infrastructure and capital > US$1 billion TOTAL MILLIONS OF TONNES OF HREOIN RESOURCE PEA capital estimate less than $300 million

13. REE Distribution – High Value Both Norra Karr and Olserum are enriched in the high value heavy REE’s. Norra Karr has potential to be a major global supplier of Y, Dy and Tb. Project grades are shown against all REE resource stage projects based on the data of Technology Metals Research. Projects with higher HREO/TREO % are less than 1/3 the size of Norra Karr Norra Karr (eudialyte) Olserum (xenotime) % HREO/TREO HREO GRADE (%)

14. Excellent Market Access MAJOR PORT MAJOR MINE NORRA KARR OLSERUM Sweden is a net exporter of sulphuric acid, one of Tasman’s key process requirements. Sulphuric acid is transported regularly on the train line that passes Norra Karr Intrusion outline 0.25 km 100 km

15. Norra Kärr– Project History • Discovered in 1906; • Explored by Boliden AB for nepheline in the late 1940’s, and for Zr/Hf in the 70’s; • Relinquished in 2001 and data only made available in 2009; • Declared “project of National Interest” in 2002 preventing conflicting land use; • Tasman claimed the ground in mid-2009; • First drilling in December 2009, now in excess of 100 holes, 12,000 metres; • First CIM (NI43-101) compliant resource November 2010; • PEA in 2012 with a post-tax NPV> $900 million at 12% discount ; • 25-year Mining Lease granted in late 2013 • PFS underway to deliver late 2014

16. Simple Geological Model 100 m GTC (not in resource) 0.3% TREO, 65% HREO TREO = Total Rare Earth Oxide HREO = Heavy Rare Earth Oxide PGT (70% of resource) 0.65% TREO, 50% HREO GTM (30% of resource) 0.5% TREO, 40% HREO www.tasmanmetals.com AUG 2013

17. Norra Karr - CIM Compliant Resource Mineral Resources – In Pit (40 Year Mine Life, Nominal Cut off 0.17% TREO) TREO = Total Rare Earth Oxide HREO = Heavy Rare Earth Oxide Note 1: The block model mineral inventory was sourced from the report titled “Amended and Restated Preliminary Economic Assessment N1 43-101 Technical Report for the NorraKärr (REE-Y-Zr) Deposit Gränna, Sweden, dated May 11, 2012 as amended on July 9, 2013”, completed by Mr Geoffrey Reed, Senior Consulting Geologist of Minarco-Mineconsult (Australia), and is based on geological and geochemical data supplied by Tasman, audited by Mr Reed. Mr Reed is an independent qualified person for the purposes of NI 43-101 standards of disclosure for mineral projects of the Canadian Securities Administrators

18. Norra Kärr6800 TPA REO Scenario MINING BENEFICIATION Open pit, 0.8 LOM strip ratio 1.5 million tpa mining = > 40 year mine life to 200m depth Crush + Grind -60 micron Magnetic Sep 1 Magnetic Sep 2 (80%) HYDROMETALLURGY Magnetic Sep 3 (20%) Sulphuric Acid Digestion of REE Minerals (25%) Room Temp + Pressure 85% beneficiation recovery Solid / Liquid Filtration TAILING FACILITY Neutralise with feldspar 60% of Mass Feldspar/Nepheline product REE-Carbonate containing 6800 tonnes REO + 15,000 tonnes Zirconium BiCarbonate 15% of Mass Aegerine product Purification 90% hydromet recovery Dispatch to market 10% of Mass Neutralised product Effluent Treatment and Disposal

19. PEA# Financial Highlights • $1,464 million after-tax Net Present Value (NPV at 8% discount rate) determined by independent consultants; • 45% after-tax Internal Rate of Return (IRR); • After-tax payback period of 2.5 years; • $5.3 Billion in revenue over the first 20 years and $10.9 billion over the 40 year life of mine; • Initial capital expenditures of $266 million (includes contingency of $42.8 million or 20%) • Average annual operating expenses of $74.3 million or $10.93 per kg of mixed TREO concentrate output; • Conservative basket price of US$51 per kg versus current China FOB basket price of US$50.49 Assumptionsthatformedthebasis of this PEA can befoundon Sedar in a National Instrument 43-101 Standards of Disclosurefor Mineral Projects (“NI43-101”) reporttitled “Amended and RestatedPreliminaryEconomicAssessment NI43-101 Technical Reportforthe Norra KarrDepositGranna, Sweden” dated 9th July 2013. as preparedbyRungePincockMinarco Ltd.

20. Secure European Supply Chain PURIFICATION AND PRECIPITATION CRUSHING, GRINDING, BENEFICIATION SEPARATION TO RE-OXIDES ACID DISSOLUTION MINING transport Recycling opportunities FINAL PRODUCT ASSEMBLY MAGNET PRODUCTION MAGNET ALLOY METAL MAKING END OF LIFE RECYCLING 10% pa growth Nd, Pr, Dy, Gd, Tb (vaccum melting) (molten salt electrolysis) (powder metallurgy) HIGH STRENGTH MAGNET PRODUCTION LIGHT GLOBE ASSEMBLY PHOSPHOR APPLIED AS COATINGS END OF LIFE RECYCLING PHOSPHOR POWDER Y, Ce, La, Eu, Tb LIGHTING PHOSPHOR PRODUCTION “….rare earth elements are the invisible metals of modern society. Their unique physical properties include strong magnetism, fluorescence, ignition at high temperature and high melting and boiling points. It is these unique characteristics that has lead to today being embedded in modest amounts in most modern appliances. REE’s provide access to a 2 trillion dollar supply chain…” METALLURGY CERAMICS CATALYSTS POLISHING

21. TASMAN TASMAN METALS LIMITED CORPORATE OFFICE FOR MORE INFORMATION Mark Saxon President & CEO msaxon@tasmanmetals.com Jim Powell Vice President, Corporate Development jpowell@tasmanmetals.com Suite 1305 1090 West Georgia St Vancouver, BC V6E 3V7 CANADA Ph: +1 (604) 685 9316 Fax: +1 (604) 683 1585