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OTCQB: REEMF

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Rare Element Appoints Robbin Lee as Director of Investor Relations

by User Not Found | Apr 29, 2013
Rare Element Resources Ltd. (NYSE MKT: REE and TSX: RES)(the "Company") is pleased to announce that Robbin Lee has joined the Company as its Director of Investor Relations.

Lakewood, Colorado - April 29, 2013 - Rare Element Resources Ltd. (NYSE MKT: REE and TSX: RES)(the "Company") is pleased to announce that Robbin Lee has joined the Company as its Director of Investor Relations.

Ms. Lee is an Investor Relations professional with over 20 years of experience working for domestic and international as well as large- and small-cap companies. Prior to their merger with AMB Property, she was Vice President of Investor Relations for ProLogis, the world's leading owner, operator and developer of industrial real estate with operations in over 20 countries. The ProLogis IR program received numerous awards during Ms. Lee's tenure, including several top rankings by Institutional Investor for the real estate investment sector. Prior to ProLogis, she spent 12 years in senior IR roles for a number of companies in the mining sector, including Echo Bay Mines, PolyMet Mining and Atlas Corporation.

Randall J. Scott, President and Chief Executive Officer, stated, "We are excited about the progress we are making moving the Bear Lodge Critical Rare Earth Project into production and wanted to make sure we had a proven professional to communicate our successes to the market and our shareholders. Robbin's background in mining and strong communication skills make her an ideal person to help Rare Element Resources build an industry leading investor relations program."

Rare Element Resources Ltd. is a publicly traded mineral resource company focused on exploration and development of rare-earth elements (REEs), with a significant distribution of critical rare earths (CREEs). In addition to the REE exploration and evaluation efforts, the Company controls the Sundance gold project, which is located on the same property in Wyoming.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

For Additional Information:
Visit the Company's Website at www.rareelementresources.com; or contact

Robbin Lee, Director of Investor Relations
720.278.2462

Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including "will", "believes", "may", "expects", "should", "seeks", "anticipates", "has potential to", or "intends' or by discussions of strategy or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company's business model; future operations, products and services; the impact of regulatory initiatives on the Company's operations; the size of and opportunities related to the market for the Company's products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance.

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Bear Lodge Panoramic
Sample Drilling
Core Samples

The Bear Lodge Project area is a significant mineralized district that contains one of the largest disseminated rare earth deposits in North America. This deposit contains many of the less common, more valuable critical rare earths that are essential for electronics, fiber optics, laser systems for health and defense, and many evolving green technologies, such as hybrid cars, solar panels and wind turbines. Rare Element Resources owns 100% of the project and, after completing a positive preliminary feasibility study in 2014, is current working with state and federal regulators to secure the permits and licenses necessary to move the Project toward development. 

Project Highlights

  • Solid Returns with Excellent Upside – the October 2014 PFS shows an after-tax 29% IRR, a NPV of $330 million using a 10% discount and an initial payback period of less than 3 years. It also identified several opportunities for upside including further operating cost reductions with refinement of the Company’s proprietary processing technology, the ability to recover Inferred mineral resource within the pit outline, the current investigation of further separation as a means to participate more fully in the value chain, and the ability to boost revenues by recovering certain by-products.
  • Superior Location – Wyoming is recognized by Canada’s Fraser Institute as one of the world’s top five mining jurisdictions. The site is ideally located near existing infrastructure, has access to low cost power and is generally supported by the local communities, who are well versed in natural resource development.
  • Robust Ore Body – the strength of our mineral resource is demonstrated by a 45 year Project life with a high-grade core that  results in a 2.9 year payback period.
  • Proprietary Technology – continued improvements to the Company’s patent-pending recovery technology have delivered a 99.999% pure, thorium-free TREO concentrate.  Recent work has identified an enhancement to existing separation technology that has produced a number of high purity, separated rare earth products in bench-scale testing.  The process is not only efficient and cost effective but environmentally friendly.  Pilot plant testing was started in July 2015. 
  • Permitting Advancing – the US Forest Service is preparing the Environmental Impact Statement on the site, the draft of which is expect in the second half of 2015.  The Company submitted its applications for key permits and license to the appropriate state and federal agencies in the second quarter of 2015. 
  • Optimization Work – optimization work identified in the PFS is currently being undertaken and will support detailed engineering and the Feasibility Study.