Texas Rare Earth Initiates Drilling at Round Top Project

Texas Rare Earth Resources Corp. (OTCQB:TRER), a heavy rare earths
exploration, development and mining company, announced today that it
began exploratory drilling on its Round Top Project near Sierra Blanca,
Texas on July 11, 2011. This program includes approximately 50 drill
holes totaling at least 12,000 feet of reverse circulation drilling.
Coverage is planned to be adequate to begin block modeling of the
deposit. The Company expects the drill program to span the next three to
six months while concurrent testing activities will be ongoing.

Marc LeVier, Chief Executive Officer of Texas Rare Earth Resources,
commented, 'This is another important step in our efforts to advance
this project to the resource definition stage. We expect to produce at
least 150 tonnes of sample from this drilling, which in addition to
mineralization analysis will be packaged and used for metallurgical
testing. Our objective is to better define the thickness and margins of
the rhyolite and to ultimately define the resource and its economic
potential.?

The close-spaced aero-magnetic study contracted to Aeroquest Airborne
was completed at Round Top Mountain in June. Aeromagnetic surveying will
help to define the form and geometry of the mineralized rhyolites and to
detect the presence of other rhyolite bodies which may be hidden under
cover. The analysis of the data is ongoing and preliminary results are
expected in the next four to six weeks.

Mr. LeVier continued, 'Round Top′s unique concentration of heavy rare
earth elements (HREE) to light rare earth elements (LREE), potential
size and shallow structure, positions us to be a potentially leading
global low-cost producer for rare earths as demand for the heavy metals
continues to grow. Importantly, there are certain elements that
currently are still in early stage science and for which we believe we
could be a major supplier as the applications continue to evolve.?

Texas Rare Earths′ flagship Round Top Project was originally drilled in
the mid 1980′s, and the Company has been re-logging and re-analyzing
82,000 feet of historical drilling. Results have consistently
reconfirmed apparent uniform rare earth grades and an approximate 70%
ratio of HREE to LREE. A study conducted by the Texas Bureau of Geology,
published in the Geological Society of America, Special Paper 246 in
1990, estimated the size of the body to be approximately 1.6 billion
metric tons.

The Company also announced that it is evaluating the beryllium deposit
that had been identified by Cabot Corporation in 1986 and later by
Cyprus Minerals in 1988 as a potential source of funding for the Round
Top Project. Results of the reanalysis of historic samples also
indicated potentially significant uranium value.

Mr. LeVier stated, 'Based on historic data and information, the Round
Top Project appears to hold several elements that are not primary to our
rare earth focus. While we intend to pursue traditional financing as we
advance Round Top towards production of heavy rare earth elements, we
are committed to minimizing dilution for our shareholders and are
proactively evaluating alternative means of finance including monetizing
non-core potential assets.' The Company believes it has sufficient
capital to fund operations and exploration activity at its Round Top
Project through the end of calendar year 2012. Its current exploration
program budget for the next twelve-month period is approximately $2.2
million and includes the aeromag survey and analysis, as well as the
present drilling program.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission limits disclosure
for U.S. reporting purposes to mineral deposits that a company can
economically and legally extract or produce. We use certain terms in
this press release, such as 'reserves,? 'resources,? 'geologic
resources,? 'proven,? 'probable,? 'measured,? 'indicated,? or
'inferred,? which may not be consistent with the reserve definitions
established by the SEC. U.S. investors are urged to consider closely the
disclosure in our Form S-1 Registration Statement or Form 10-K. You can
review and obtain copies of these filings from our website at http://www.sec.gov/edgar.shtml.

Forward-Looking Information

This press release may contain forward-looking statements about the
business, financial condition and prospects of the Company.
Forward-looking statements, can be identified by the use of forward
looking terminology such as 'believes,' 'projects,' 'expects,?
'potential,? 'size, grade and elemental make-up,? 'massive tonnage,?
'may,' 'goal,' 'estimates,' 'should,' 'likelihood,' 'plans,' 'targets,'
'intends,' 'could,' or 'anticipates,' or the negative thereof, or other
variations thereon, or comparable terminology, or by discussions of
strategy or objectives. Forward-looking statements relate to anticipated
or expected events, activities, trends or results. Because
forward-looking statements relate to matters that have not yet occurred,
these statements are inherently subject to risks and uncertainties.
These statements are made to provide the public with management's
current assessment of the Company's business. Although the Company
believes that the expectations reflected in forward-looking statements
are reasonable, there can be no assurances that such expectations will
prove to be accurate. Security holders are cautioned that such
forward-looking statements involve risks and uncertainties. The
forward-looking statements contained in this press release speak only as
of the date of this press release and the Company expressly disclaims
any obligation or undertaking to report any updates or revisions to any
such statement to reflect any change in the Company's expectations or
any change in events, conditions or circumstances on which any such
statement is based. Certain factors may cause results to differ
materially from those anticipated by some of the statements made in this
press release.

About Texas Rare Earth

Texas Rare Earth Resources Corp.'s primary focus is developing its Round
Top Mountain rare earth?beryllium-uranium project which also includes
niobium, tantalum and gallium. Round Top is located in Hudspeth County,
Texas, 85 miles east of El Paso. Independently published data indicates
the property may contain more than one billion metric tons of rhyolite
containing rare earths with a 67% ratio of heavy to light rare earths.
Prior exploratory work also indicates what management believes to be a
potentially large high-grade beryllium resource. Uranium is present in
the deposit and preliminary sampling shows grades of over 1% U exposed
in the mine. Texas Rare Earth'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 on which the Company routinely posts information:http://www.texasrareearth.com.

Texas Rare Earth Resources Corp.

Marc LeVier, 303-507-3842

Chief
Executive Officer

mlevier@texasrareearth.com

or

Investor
Relations:

Kei Advisors LLC

Deborah K. Pawlowski,
716-843-3908

dpawlowski@keiadvisors.com