Rare Element Resources Ltd.

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FMR – mineralization that includes iron oxide, manganese oxide and rare earth elements.
formation – a distinct layer or group of layers of rock of similar composition and geological origin.
gadolinium (“Gd”) – a malleable, ductile metallic element of the lanthanide series that has seven natural
isotopes and 11 artificial isotopes. Two of the natural isotopes, Gd 155 and Gd 157, are the best known neutron
absorbers. Gd is used to improve the heat and corrosion resistance of iron, chromium, and various alloys in
medicine as a contrast medium for magnetic resonance imaging and as a radioisotope in bone mineral analysis.
geochemical – related to the distribution and amounts of the chemical elements in minerals, ores, rocks,
solids, water and the atmosphere.
geophysical – related to the mechanical, electrical, gravitational and magnetic properties of the earth’s
crust.
geophysical surveys – survey methods used in the mining industry as exploration tools that apply the
properties and methods of physics and engineering to the earth’s surface and subsurface.
grade – quantity of metal per unit weight of host rock.
heavy rare earth elements (“HREEs”) – defined as the elements Tb, Dy, Ho, Er, Tm, Yb, Lu and Y.
host rock – the rock in which a mineral or an ore body is contained.
Lanthanides – a series of 15 with 57 through 71, from
through These 15 lanthanide elements, along with the chemically similar elements
and , are often collectively known as the
lanthanum (“La”) – the first metallic element of the lanthanide series. La is a strategically important rare
earth element due to its use in fluid cracking catalysts (“FCC”), which are used in the production of transportation
and aircraft fuel. La is also used in fuel cells and batteries.
life-of-mine – a term commonly used to refer to the likely term of a mining operation and normally
determined by dividing the tonnes of Mineral Reserve by the annual rate of mining and processing.
light rare earth elements (“LREEs”) – defined as the elements La, Ce, Pr, Nd, Pm, Sm, Eu and Gd.
LQD-WDEQ – the Land Quality Division of the Wyoming Department of Environmental Quality
mineral – a naturally occurring, inorganic crystalline material having a definite chemical composition.
mineralization – a natural accumulation or concentration of one or more potentially economic minerals in
rocks or soil. Also the process by which minerals are introduced or concentrated in rocks or soil.
monazite – a reddish-brown rare earth phosphate mineral. Monazite-group minerals are typically
accompanied by elevated concentrations of uranium and thorium. This has historically limited the processing of
monazite. However, this mineral is becoming more attractive because it typically has elevated concentrations of
heavier rare earth elements.
National Instrument 43-101 (“NI 43-101”) – Standards of Disclosure for Mineral Projects, as prescribed
by the Canadian Securities Administrators.