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| January 05, 2004 Rare Element Director Participates in Private Placement | |
| Vancouver, BC - January 5, 2004. Rare Element Resources Ltd. (the "Company") announces that a director has negotiated to sell 626,000 common shares of the Company through the facilities of the TSX Venture Exchange. The proceeds from this sale will be used to partially fund the private placement of units to be announced. The private placement will be subject to regulatory approval. About Rare Element Resources Rare Element Resources is a mineral resource Company focused on rare earth metals, which, because they are essential to both advanced and existing industries and technologies, have been called the "enablers of modern living." In 2001, the market for rare earth metals in the US alone exceeded $1 billion, with most of those minerals imported from China. According to the US Geological Service, the Bear Lodge mountains in Wyoming host extensive occurrences of rare earths. Rare Element's Bear Lodge project covers much of these mineralized areas and the Company is positioned to become an important source of rare earth metals within North America. For additional information, please contact: Mr. Mark T. Brown (604) 687-3520 mtbrown@pacificopportunity.com Mr. John Kuehne (250) 380-2274, SmallCap Corporate Partners The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. | |
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