Forward Looking Statements
This presentation contains forward-looking statements and forward-looking information (collectively, the “forward-looking statements”) within the meaning of securities legislation in the United States and Canada. 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", "plans", "has potential to", or "intends" (including negative or grammatical variations thereof) or by discussions of strategy or intentions. Such forward-looking statements include statements regarding: the estimated Bear Lodge Project (the “Project”) economics and parameters, including capital costs, NPV, IRR, after tax returns, mine and Project life, mining plan including grades of mineralized material expected to be recovered during various periods of mining, payback period, anticipated production costs, rare earth prices, the impact of Rare Element Resources Ltd.’s (the “Company” or “REE”) proprietary technology on production, plans for a commercial scale demonstration plant and the impact thereof, the impact of the Hydromet plant’s location on costs, costs of elemental separation and the impact of downstream separation; mineral resource and mineral reserve estimates; and the expected commissioning of the Project and Project development plans for the future. 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. Except as required by law, we disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.
INFORMATION: Certain information contained in this presentation has been obtained by the Company from its own records and from other sources deemed reliable, however no representation or warranty is made as to its accuracy or completeness. The technical information relating to the Project disclosed herein is based upon the technical report prepared and filed pursuant to National Instrument 43-101 - Standards for Disclosure of Mineral Properties ("NI 43-101") and other publicly available information regarding the Company, including the Company’s technical report entitled “Pre-Feasibility Study Report on the Reserves and Development of the Bull Hill Mine, Wyoming,” filed on October 10, 2014, available on the Company’s website and under its profile at www.sedar.com (“SEDAR”). Additional information is included in REE's Annual Information Form for the year ended December 31, 2014 which is filed on SEDAR.
Mineral resources were estimated by Alan C. Noble, P.E. of Ore Reserves Engineering (O.R.E.), an independent Qualified Person (QP) as defined by NI 43-101 and based on standards established by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM). Proven and Probable Mineral Reserve estimates were determined by William Rose, P.E. of WLR Consulting, an independent QP as defined by NI 43-101, as part of the Bull Hill Mine design, effective 6/30/14, and based on a discounted basket price of $24.60/kg. Jaye T. Pickarts, P.E. and Chief Operating Officer of REE is the QP as defined in NI 43-101 who has reviewed and approved the technical contents of this presentation. Although Proven and Probable Mineral Reserves are presented in accordance with NI 43-101 requirements, they do not qualify as reserves under US SEC Industry Guide 7. In our US SEC filings, the materials are reported as Measured and Indicated Mineral Resources. Mineral resources that are not mineral reserves do not have demonstrated value.