Texas Rare Earth Resources Expanding Exploration Program for Heavy Rare Earth Elements at Round Top Project

Texas Rare Earth Resources Corp. (the 'Company?) (OTCQB: TRER), a heavy
rare earths exploration and development company, announced today that it
is expanding its exploration program at its Round Top rare
earth?beryllium-uranium project in West Texas over the next twelve
months into three phases and over a broader area based on the recent,
encouraging aeromagnetic survey results. Independently published data
indicates that the Round Top project 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.

Measurable Progress Made to Advance the Round Top Project to the
Resource Definition Stage

• 
  On July 11, 2011, the Company initiated an exploratory drilling
  program at its Round Top project that initially consisted of
  approximately 12,000 feet of reverse circulation drilling. This
  drilling was planned to twin certain historic drill holes, infill
  drill between existing holes, and step out to define the margins of
  the potential deposit. To date, 18 holes have been completed with the
  19^th presently at 480 feet, for a total of 7,321 feet
  drilled. Approximately 16 tons of rhyolite have been recovered and the
  material is being prepared for chemical analysis at a commercial
  analytical laboratory. There are approximately 27 additional drill
  holes sited for this phase of drilling. Average depth of these holes
  and the volume of metallurgical sample are expected to increase as
  drilling progresses to higher elevations on Round Top Mountain. The
  Company estimates that the original 12,000 feet of planned drilling
  will be increased during this phase. Round Top Mountain was originally
  drilled in the mid 1980′s, and the Company has been re-logging and
  re-analyzing 82,000 feet of historical drilling.
  
• 
  In July, Aeroquest Airborne completed approximately 600 kilometers of
  Tri-Axial Magnetic Gradiometer airborne survey over Round Top Mountain
  and the surrounding area. Preliminary results announced on August 16,
  2011 indicated greater expanse of rhyolite in the subsurface than
  originally expected. A strong northwest-southeast trending magnetic
  anomaly is present below Round Top Mountain and extends under alluvium
  to the northwest and to the southeast extends under the gravel covered
  valley. This data exceeds the Company′s initial expectations for the
  rare earth mineralization potential of the Round Top project area. The
  data defines at least four additional drill targets to the east and to
  the northwest of Round Top Mountain.
  
• 
  The Company has commissioned a detailed gravimetric survey of the
  Round Top project area and it is expected that the combination of the
  gravimetric survey with the aerometric survey will better define drill
  targets both for additional masses of mineralized rhyolite and for
  possible limestone-fluorite-rare earth minerals replacement
  mineralization in the favorable limestone at depth.
  
• 
  A supplementary operating plan is being prepared to extend the
  drilling program to test these magnetic features and to better define
  the volume of mineralized rhyolite at the Round Top project. The
  supplementary plan will be submitted to the Texas General Land Office
  for approval. The Company intends to be able to begin to model the
  Round Top project.
  
• 
  In August, Texas Rare Earth Resources added Anthony Garcia as Senior
  Vice President of Project Development, to oversee the Company′s
  efforts at the Round Top project. Mr. Garcia, who has more than 20
  years of project/engineering management, design, and field experience
  in the mining and metals industry, was most recently a Value Assurance
  Senior Director for Newmont Mining (NYSE: NEM), where he oversaw the
  review of 35 projects in Newmont′s pipeline.
  

Marc LeVier, President and Chief Executive Officer of Texas Rare Earth
Resources, commented, 'Given the early results from our initial drilling
program, the favorable aeromagnetic survey, and now having a talented
and very capable person in Anthony overseeing the development at the
Round Top project, management and the Board made the strategic decision
to accelerate our exploration capital plan. Initially, we projected our
exploration costs to be approximately $2.2 million over a twelve-month
period beginning in June 2011. Our exploration budget now is for
approximately $9 million for fiscal 2012 on exploration-related and
project advancement activities. We are extremely encouraged with our
progress and the potential of this large, heavy rare earth minerals
project.?

The Company′s cash balance at July 31, 2011 was $17.35 million compared
with $17.7 million at June 30, 2011 and $9.8 million at May 31, 2011.
The increase from the May balance was due to the receipt of $9.2 million
in June of the total $15.6 million received through the successful
completion of the second stage of financing that was previously
announced in January and February 2011.

About Texas Rare Earth

Texas Rare Earth Resources Corp.'s primary focus is exploring and
developing its Round Top rare earth?beryllium-uranium project which also
includes niobium, tantalum and gallium. 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 what the Company
believes to be a potentially large, high-grade beryllium mineralization.
Uranium mineralization is also present in the deposit. 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.texasrareearth.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. 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 expansion of estimated rhyolite in the Round Top project area
based on further drilling on targets developed from the aeromagnetic
survey, the expected results on the current and future drilling programs
at the Round Top project, the expected timing and results of the
expanded drilling program, the expected timing and results of three
dimensional inversion modeling, the timing and results of the close
spaced gravimetric survey, the potential positioning of the Company to
be a leading, global low-cost producer of rare earth minerals, 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 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 drilling and metallurgical testing at the
Round Top project, risks related to the timing and completion of the
three dimensional inversion modeling and close spaced gravimetric
survey, 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.

K Marc LeVier, President & CEO

303-597-8737

mlevier@texasrareearth.com

or

Investor
Relations:

Kei Advisors LLC

Deborah K. Pawlowski, 716-843-3908

dpawlowski@keiadvisors.com