News Releases

Not for distribution to United States newswire services or for dissemination in the United States Vancouver, BC - Rare Element Resources Ltd. (TSX-V: RES and AMEX: REE) (the "Company") is pleased to announce that it has closed its previously announced short form prospectus offering (the "Offering"), having issued for sale 6,394,000 common shares of the Company (the "Shares") at a price of C$9.00 per Share for gross proceeds to the Company of C$57,546,000.

Vancouver, BC - Rare Element Resources Ltd. (TSX-V: RES and AMEX: REE) (the "Company") is pleased to announce that it has obtained a receipt for its final short form prospectus filed with the securities regulatory authorities in each of the provinces of Canada, except Québec, and has entered into an agency agreement with a syndicate of agents (collectively, the "Agents") for its previously announced "best efforts" public offering (the "Offering") of up to 5,560,000 common shares of the Company (the "Shares") at an issue price of C$9.00 per Share (the "Issue Price").

Vancouver, BC - Rare Element Resources Ltd. (TSX-V: RES and AMEX: REE) (the "Company") is pleased to announce that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, except Québec, in connection with a fully marketed public offering in Canada with a concurrent private placement in the United States (the "Offering") to raise aggregate gross proceeds of up to C$50 million on a best efforts basis with a syndicate of agents.

Vancouver B.C. - Rare Element Resources Ltd. (TSX-V: RES and NYSE-Amex: REE) (the "Company" or "Rare Element") announced that its unaudited financial statements and Management's Discussion and Analysis for the three months ended September 30, 2010 have been filed on www.sedar.com.

Vancouver B.C. - Rare Element Resources Ltd. (TSX-V: RES and AMEX: REE) (the "Company") is pleased to announce that the Preliminary Economic Assessment ("PEA") report on the Bear Lodge Rare Earth Elements Project has now been filed on www.SEDAR.com.

Vancouver B.C. - Rare Element Resources Ltd. (NYSE Amex: "REE"; TSXV: "RES") announces assay results from additional rotary (reverse circulation) holes drilled on the Sundance Gold Project, Wyoming (drill holes SUN-067 to SUN-085).

Vancouver B.C. - Rare Element Resources Ltd. (TSX-V: RES and AMEX: REE) is pleased to announce rare earth element (REE) assay results from an additional eleven drill holes completed during the ongoing 2010 core drilling program at the Company's 100% owned Bear Lodge property, located in northeastern Wyoming, USA.

Vancouver B.C. - Rare Element Resources Ltd. (TSX-V: RES and NYSE-Amex: REE) (the "Company" or "Rare Element") received an additional $5,842,210 from the exercise of stock options, warrants and agent's options between July 1, 2010 and October 31, 2010.

Vancouver B.C. - Rare Element Resources Ltd. (TSX-V: RES and NYSE-Amex: REE) (the "Company" or "Rare Element") announced that its audited financial statements and Management's Discussion and Analysis for the fourth quarter and year ended June 30, 2010 have been filed on www.sedar.com.