The Gold Report

Rare Element Resources Ltd. TICKER: RES:TSX; REE:NYSE.A Visit Company Website Rare Element Resources Ltd. is focused on exploration and development of rare earth elements (REEs) and gold on its 100%-owned Bear Lodge property. Gold exploration has been conducted there for decades with several companies significantly contributing to the database and understanding. Newmont's recent exploration efforts as Rare Element's venture partner were the most comprehensive and extensive of these programs. Bear Lodge encompasses one of the largest disseminated REE occurrences in North America (M H Staatz, 1983, USGS Professional Paper 1049D). In parallel with the gold-focused exploration JV, the company has completed an NI 43-101 resource estimate and a technical report on Bear Lodge REE mineralization; is continuing with drilling and a metallurgical testing program; and is working on a Scoping Study.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Jon Hykawy, Byron Capital Markets (5/11/12) "We are reassured by Rare Element Resources Ltd.'s cash conservation during these tough markets. . .its strong balance should be able to carry the company through its summer exploration. . .we view the Bear Lodge project as a favorable rare earth project, given its high in-situ neodymium content and its favorable location in the U.S. Rare Element is in the enviable position of being able to rely on its balance sheet to hit critical milestones, and does not have to return to what has become a very difficult market for rare earth juniors."

The Gold Report Interview with Brien Lundin (4/6/12) "Rare Element Resources Ltd. has been the lead play in the junior sector for some time, and I'm proud to say that Gold Newsletter was the first to recommend it years ago. The company recently came out with a prefeasibility study on the Bear Lodge project in Wyoming that showed tremendous value of $1.7–4B NPV. It is one of the most advanced and valuable rare earth deposits in the world today, certainly among publicly traded companies. It's a tremendous value right now." More >

Stephan Bogner, Resource Investor (3/30/12) "Rare Element Resources Ltd. owns 100% of the Bear Lodge deposit. . .according to the U.S. Geological Survey, the U.S. is home of one of the largest REE reserves in North America, also known as the Bear Lodge deposit of Wyoming. Its current "official" resource is already as big as 7 Mt of high-grade ore averaging 3.75% REO. . .over the next months, this resource is expected to be increased by some 24 Mt of high-grade ore averaging 2.75% REO (Inferred). . .the prefeasibility study was completed with remarkably positive results, whereas the metallurgy has proven to be outstanding."

The Critical Metals Report Interview with Luisa Moreno (3/20/12) "I visited Rare Element Resources Ltd.'s pilot plant last year. It has also made significant progress. The resource is mainly comprised of bastnasite mineral, which, relative to other deposits, might mean that it will have fewer processing challenges. It has been able to produce a mixed oxide concentrate and is moving towards separating the elements and producing individual elements oxides. As I said, it's already at the pilot level and completed a prefeasibility study. Rare Element is one of the most advanced projects; we believe however that the company needs to secure offtake agreements and a JV partner capable of co-financing the $375 million project. . . there are some names in the rare earths space that are well known and respected. Examples of that [include] Rare Element Resources Ltd. It was one of the first companies to publish PEAs and are still perceived by some as a frontrunner." More >

Data Explorers (3/15/12) "Rare Element Resources Ltd. is a small-cap miner with 100% interest in the Bear Lodge property in Wyoming, which contains one of the largest disseminated rare earth deposits in North America. The company recently reported that its project is technologically feasible and 'will have robust returns on invested capital'. . .the share price is showing recovery and there has also been a small increase in institutional ownership of funds who lend."

• Corporate Presentation (2/7/12)
• Corporate Profile (5/30/11)

(1/4/10) RES Sitting on Large REE Deposit in Wyoming

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