RARE ELEMENT RESOURCES LTD

Rare Element Resources Ltd. is focused on demonstrating the technical and economic feasibility of its proprietary processing and separation technology and advancing the Bear Lodge REE Project. The company's main assets include its proprietary rare earth processing, beneficiation, and separation technology, and its 100% interest in the Bear Lodge Property. The Bear Lodge Property consists of a group of unpatented mining claims and adjacent private property in northeast Wyoming, near Sundance, owned through its wholly owned subsidiary, Rare Element Resources, Inc., a Wyoming corporation. The Bear Lodge REE Project includes several large, disseminated rare earth element (REE) deposits and a planned hydrometallurgical plant that may be located near Upton, Wyoming. This project is noted as one of the highest-grade REE deposits identified in North America, containing a favorable distribution of critical rare earth elements (CREE). The company has conducted extensive laboratory bench-scale and pilot plant testing on metallurgical processes to recover saleable rare earth products and holds two patents on its metallurgical processing innovations. Rare Element Resources Ltd. was originally organized as Spartacus Capital Inc. and transitioned to Rare Element Resources Ltd. on July 25, 2003, following a reverse takeover acquisition of Rare Element Holdings Ltd. and a private placement.