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Rare Earth Media
| May 25, 2009 Rare Element confirms no undisclosed material news. | |
| Vancouver, BC -- Rare Element Resources Ltd. (TSX-V: RES) ("Rare Element" or the "Company") confirms that the Company has no material undisclosed news. This information has been disseminated due to today's heavy activity in the common shares of the Company at the request of the Investment Industry Regulatory Organization of Canada. Trading in the shares of the Company under the symbol "RES" on the TSX Venture Exchange will resume shortly. Rare Element Resources Ltd (TSX-V:RES) is a publicly traded mineral resource company focused on gold and strategic metals such as the rare-earth elements. Rare Element and Newmont have entered into the Sundance gold exploration joint venture on the Company's Wyoming property. Newmont has the right to earn a 65% working interest in Rare Element's 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's Bear Lodge property, Wyoming, also encompasses one of the largest disseminated rare-earth occurrences in North America (M H Staatz, 1983, US Geological Survey Professional Paper 1049D). In parallel with the Sundance gold-focused exploration project, Rare Element has completed a NI 43-101 compliant resource estimate and a Technical Report on the Bear Lodge Rare-Earth Mineralization. The Company is also continuing with a metallurgical testing program of the drill-hole samples collected during 2008 and planning a 2009 drilling program to increase the resources. ON BEHALF OF MANAGEMENT Mark T. Brown, B.Comm. CA, Director & CFO 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, which takes full responsibility for content. Neither 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. | |
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