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| April 15, 2009 Rare Element Releases NI 43-101 Technical Report in Support of Bear Lodge Rare-Earth Resource Estimate | |
| Rare Element Resources Ltd. (TSX V: RES) (the "Company") is pleased to announce the release of its comprehensive NI 43-101-compliant Technical Report describing the details of the rare-earth mineral resource and gold exploration project at the Bear Lodge property, located in northeastern Wyoming. The Company continues to advance the commercial understanding of the Bear Lodge rare-earth deposit by defining and estimating the resource and continuing metallurgical testing to determine the recoverability of the rare earths within that resource. The Report is available at www.sedar.com and will be added to the Company's website at www.rareelementresources.com shortly. Summary of the Technical Report The NI 43-101 Technical Report for the Bear Lodge project was completed by Alan C. Noble, P.E., of Ore Reserves Engineering as the principal author, with the support of Rare Element's James G Clark, PhD L.Geo. and Donald E. Ranta, PhD, P.Geo., as co-authors. Mr. Noble, Dr. Clark, and Dr. Ranta are all Qualified Persons for the purpose of Canadian NI 43-101, Standards of Disclosure for Mineral Projects. The report focuses on the rare-earth mineralization, but it also provides a comprehensive summary of the gold mineralization potential and exploration efforts to date on the property through the Company's Sundance Venture with Newmont Mining. The report provides the first detailed summary of geology and exploration and the first NI 43-101-compliant resource estimate on the property. Furthermore, the report incorporates descriptions of all the exploration work and metallurgical testing completed by the Company since the initial exploration NI 43-101- compliant Technical Report was issued in 2002 by Brian H. Meyer, P.Geo. The report also includes recommendations for additional exploration work to expand the rare earths resource and the continuance and expansion of the metallurgical testing program currently underway. Dr. Clark, Vice President of Exploration, commented that "this report is another significant milestone for the Bear Lodge project. We are excited about the size and grade of the rare-earths resource outlined in the report and look forward to the implementation of the recommended exploration work program that we are confident will increase the resource further." NEWS RELEASE RARE ELEMENT RESOURCES LTD TSX-V:RES April 15, 2009 Ref: 04-2009 Rare Element Resources Ltd (TSX-V:RES) is a publicly traded mineralresource company focused on gold and strategic metals, specifically the rareearth elements. Rare Element Resources and Newmont have entered into the Sundance gold exploration project on the Company's Wyoming property. Newmont has the right to earn a 65% working interest in Rare Element Resources' property, excluding any rights to the rare-earth elements and uranium, but including rights to gold and other metals, by performing US$5 million in property work expenditures over a five-year period. Newmont also has the right to earn an additional 15% working interest by completing a positive project feasibility study. Rare Element Resources' Bear Lodge, Wyoming property also encompasses one of the largest disseminated rare-earth occurrences in North America (M.H. Staatz, 1983, US Geological Survey Professional Paper 1049-D). In parallel with the Sundance gold-focused exploration project, Rare Element Resources is currently planning the 2009 exploration program. ON BEHALF OF THE BOARD Donald E Ranta, PhD, PGeo, President & CEO For information, refer to the Company's website at www.rareelementresources.com or contact: Donald E Ranta, President & CEO, (604) 687-3520 don@rareelementresources.com Mark T. Brown, CFO, (604) 687-3520 ext 242 mtbrown@pacificopportunity.com Donald E. Ranta, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr. Ranta and has been prepared in accordance with Canadian regulatory requirements that are set out in National Instrument 43-101. This news release was prepared by Company management, who take full responsibility for content. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. | |
You can view the Next News Releases item: Wed Apr 29, 2009, Rare Element Purchases Bear Lodge Royalty and Provides Update on Permit for Exploration Drill Program You can view the Previous News Releases item: Mon Mar 23, 2009, Rare Element Reports More than 125% Increase in Rare-Earth Mineral Resource at Bear Lodge: 9.8 Million-Ton Inferred Mineral Resource Averaging 4.07% Rare-Earth Oxides You can return to the main News Releases page, or press the Back button on your browser. |