NI43-101Pre-Feasibility Study Report - page 80

Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
, 2014
10135-200-46 - Rev. 0
In order to maintain all claims in good standing, Rare Element is responsible for
payment of annual federal claim maintenance fees (currently $155/claim) and the
recording of the annual claim maintenance and intent to hold notice with Crook
County, Wyoming. All 499 unpatented claims included in the project are located on
federal lands and are subject to annual maintenance fees payable to the United
States Bureau of Land Management. Mineral rights on the mining claims and the 634
acre private parcel allow Rare Element mineral and surface rights to explore, develop,
and mine the Bear Lodge property, subject to the prior procurement of required
operating permits and approvals, and compliance with applicable federal, state, and
local laws, regulations and ordinances. The Company believes that all of its mining
claims are in good standing, and the authors of this report have no reason to believe
otherwise and have accepted the land ownership and control to be as represented.
The author is not aware of the existence of any outstanding environmental liabilities,
except for reclamation work associated with the Company’s ongoing exploration and
drilling activities. Permits required to carry out the exploration and evaluation program
proposed in this report are included in Rare Element’s Plan of Operations for the
Exploration Environmental Assessment, which was transferred from Newmont.
Permits for the Company’s current operations were approved by both the U.S. Forest
Service and the Wyoming Department of Environmental Quality. The Plan of
Operation includes a reclamation plan and a posted reclamation bond of $430,000 to
cover the reclamation cost of planned exploration work.
Additional permits and licenses are required for a mining and processing operation in
order to proceed to mine development. These are discussed in more detail in Chapter
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