NI43-101Pre-Feasibility Study Report - page 16

Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
th
, 2014
10135-200-46 - Rev. 0
i
Table of Contents
1
Executive Summary ................................................................................................. 1-1
1.1
Mineral Reserves and Resources ...................................................................................... 1-4
1.1.1
Mineral Reserve ................................................................................................................. 1-6
1.1.2
Inferred Mineral Resource.................................................................................................. 1-8
1.1.3
Total Rare Earth Oxide Distribution ................................................................................... 1-8
1.2
Geology and Mineralization................................................................................................ 1-9
1.3
Exploration ....................................................................................................................... 1-10
1.4
Deposit Types .................................................................................................................. 1-11
1.5
Physical Upgrading Plant ................................................................................................. 1-11
1.6
Hydrometallurgical Plant .................................................................................................. 1-11
1.7
Capital Expenditures ........................................................................................................ 1-12
1.8
Infrastructure .................................................................................................................... 1-13
1.9
Operating Costs ............................................................................................................... 1-14
1.10
Environmental and Permitting .......................................................................................... 1-14
1.11
Production Timeline ......................................................................................................... 1-15
1.12
Markets and Pricing ......................................................................................................... 1-15
1.13
Sensitivity Analysis........................................................................................................... 1-18
1.14
Risks................................................................................................................................. 1-19
1.15
Further Project Opportunities ........................................................................................... 1-21
2 Introduction .............................................................................................................. 2-1
2.1
Project Background ............................................................................................................ 2-1
2.2
Rare Earth Element Background Information .................................................................... 2-2
2.3
Purpose and Basis of Report ............................................................................................. 2-2
2.4
Authors and Participants .................................................................................................... 2-5
2.5
Terms of Reference ........................................................................................................... 2-6
3 Reliance on Other Experts....................................................................................... 3-1
3.1
Introduction......................................................................................................................... 3-1
3.2
Exploration and Geology Data ........................................................................................... 3-1
3.3
Land and Property Data ..................................................................................................... 3-2
3.4
Federal Tax Calculaion ...................................................................................................... 3-3
4 Property Description and Location......................................................................... 4-1
4.1
Bull Hill Project ................................................................................................................... 4-1
4.2
Bull Hill Mine and PUG Site Location................................................................................. 4-1
4.3
Upton Hydromet Site Location ........................................................................................... 4-2
4.4
Bull Hill Mine and PUG Site Property Description and Ownership .................................... 4-2
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