Texas Rare Earth Resources Contracts Gustavson Associates, LLC to Perform Scoping Study at Round Top Heavy Rare Earth Project

Texas Rare Earth Resources Corp. (OTCQB:TRER), a heavy rare earths
exploration and development company, today announced that Gustavson
Associates, LLC, a subsidiary of Walsh Environmental Scientists and
Engineers and its parent company, Ecology and Environment, Inc. (NASDAQ:
EEI) has been contracted to perform the scoping study at the Round Top
Rare Earth project in Texas. Gustavson has more than 29 years experience
in the mining business, specializing in minerals and hydrocarbon
exploration, production, and evaluation. In the minerals sector, their
experience and capabilities focus on evaluation of exploration
opportunities, computerized mineral resource and reserve estimation,
project financing, due diligence, feasibility studies, appraisals and
valuations, and qualified person reports. Having completed several
feasibility studies, due-diligence and independent engineer projects as
well as numerous technical reports under Canadian National Instrument
43-101 ? Standards of Disclosure for Mineral Projects ('NI
43-101?) in just the last year, Gustavson Associates has been involved
in several well-known projects to include the Yauricocha deposit in
Peru, the Contact Copper Project, the Pan Gold Project and the Pinson
Gold Project in Nevada.

Anthony J. Garcia, the Company′s Senior Vice President of Project
Development, commented, 'Our drilling and metallurgical testing
activities have advanced sufficiently that we can now initiate the
preliminary economic assessment, or scoping study, and have engaged a
highly regarded and very qualified firm in Gustavson to complete a
technical report which we have requested to be NI 43-101 compliant. The
scoping study, which we expect to move us forward in the definition of
the resource and de-risking of the project, is anticipated to provide
the required environmental baseline analysis, archaeological study and
also to clarify land requirements, as well as provide the mapping and
testing of water sources while defining the boundaries of the project.
The outcome will be various financial scenarios for consideration. We
expect the study to be completed by mid-2012.?

The Gustavson project team will be led by Donald E. Hulse, Vice
President Mining and Principal Mining Engineer. Mr. Hulse has over 27
years of experience in the mining industry, including technical and
general management, operational planning, economic analysis and cost
estimation, pit and phase design, resource and reserve estimation,
feasibility studies and reserve audits. Mr. Hulse is a Qualified Person
as defined by NI 43-101, a Professional Engineer registered with the
Colorado State Board of Professional Engineers and Land Surveyors, and a
member of the Society of Mining, Metallurgy, and Exploration.

About Texas Rare Earth

Texas Rare Earth Resources Corp.'s primary focus is exploring and
developing its Round Top rare earth minerals project. The Round Top
project is located in Hudspeth County, Texas, 85 miles east of El Paso,
Texas. Independently published data indicates the property may contain
approximately 1.6 billion metric tons of rhyolite host rock, containing
rare earth minerals with potentially a 70% ratio of heavy to total rare
earth minerals. Prior exploratory work also indicates the potential for
a large zone of high-grade beryllium mineralization on the Company′s
property. Uranium mineralization is also present at the site. The
Company′s common stock trades on the OTCQB Market tier under the symbol
'TRER.?

For more information on Texas Rare Earth Resources Corp., visit
its website at http://www.trer.com.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission ('SEC?) limits
disclosure for U.S. reporting purposes to mineral deposits that a
company can economically and legally extract or produce. This press
release uses the term 'resource?. We advise U.S. investors that while
this term is defined in accordance with NI 43-101 and the Canadian
Institute of Mining, Metallurgy and Petroleum ('CIM?) - CIM
Definition Standards on Mineral Resources and Mineral Reserves,
adopted by the CIM Council, as amended (the 'CIM Standards?), such term
is not recognized by the SEC and is normally not permitted to be used in
reports and registration statements filed with the SEC. U.S. Investors
are cautioned not to assume that any defined resource would ever be
converted into SEC compliant reserves. Our Round Top rare
earth-beryllium-uranium project currently does not contain any known
proven or probable ore reserves under SEC reporting standards and our
reference above to the metric tons of rhyolite contained at the project
is a reference only to estimated in-place tonnage. U.S. investors are
urged to consider closely the disclosure in our latest reports and
registration statements filed with the SEC. You can review and obtain
copies of these filings at http://www.sec.gov/edgar.shtml.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the U.S. Securities Act of 1933, as amended, and U.S.
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that Texas Rare Earth
Resources expects or anticipates will or may occur in the future,
including such things as the potential development of the Round Top rare
earth?beryllium-uranium project, estimates of mineralized material, the
potential ratio of heavy to total rare earth minerals present at the
Round Top project, the number of metric tons of rhyolite contained at
the Round Top project, the anticipated timing and completion of the
technical report, the expected timing and completion of the scoping
study, the expected effects of the scoping study on defining a resource
and de-risking the project, the expected results and contents of the
scoping study and other such similar matters are forward-looking
statements. When used in this press release, the words 'potential?,
'indicate?, 'expect?, 'intend?, 'hopes,? 'believe,? 'may,? 'will,? 'if,
'anticipate? and similar expressions are intended to identify
forward-looking statements. These statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Texas Rare Earth Resources to be
materially different from any future results, performance or
achievements expressed or implied by such statements. Such factors
include, among others, uncertainty of mineralized material estimates,
risks relating to completing and the results of a technical report at
the Round Top project, risks related to completing and results of the
scoping study, risks related to project development determinations,
risks related to fluctuations in the price of rare earth minerals, the
inherently hazardous nature of mining-related activities, potential
effects on Texas Rare Earth Resource′s operations of environmental
regulations, risks due to legal proceedings, risks related to
uncertainty of being able to raise capital on favorable terms or at all,
as well as those factors discussed under the heading 'Risk Factors? in
Texas Rare Earth Resource′s latest annual report on Form 10-K as filed
on February 8, 2011, as amended, April 19, 2011, and other documents
filed with the U.S. Securities and Exchange Commission. Although Texas
Rare Earth Resources has attempted to identify important factors that
could cause actual results to differ materially from those described in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. Except as
required by law, Texas Rare Earth Resources assumes no obligation to
publicly update any forward-looking statements, whether as a result of
new information, future events or otherwise.

Texas Rare Earth Resources Corp.

Nadine Wakely, 303-597-8737

Director,
Investor Relations

nwakely@trer.com