Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
th
, 2014
10135-200-46 - Rev. 0
2-4
2002 and prepared by an independent geologist for Paso Rico Resources Ltd.
(now known as Rare Element Holdings, Ltd.), which is a wholly owned
subsidiary of Rare Element Resources Ltd.
Significant additions in all sections of this technical report contain previously
unreported data.
As a part of the studies described in this technical report, work was performed on
geologic evaluation, drilling and assaying, and resource estimation.
This technical report incorporates existing information from Rare Element files and
considerable new drilling data from the 2013 drilling program that augments drilling
data from the 2008 through 2012 exploration and drilling programs. The information is
compiled in a digital drill hole database, complete with assays and geological
information. In addition, the data includes thousands of pages of documents and
other data gathered during nearly 40 years of exploration activities in the Bear Lodge
district. Historic paper documents include supporting assay data for drill holes,
surface geology, geochemistry, geophysical surveys, mineralogical and petrographic
studies, geological interpretations, metallurgical testing, technical correspondence,
and scientific publications. Much of the project information is in electronic format that
allows for ease of use and analysis.
This technical report utilizes the results of current and recent exploration activities
conducted by Rare Element, as well as the activities and results documented in
previous reports compiled by geologists of mining companies formerly involved in the
exploration of the property prior to the Company’s involvement. These data include
published institutional reports, such as the USGS and USBM investigative studies
conducted over the same area of interest. The data referenced in this report are from
the early 1970s through 2013. They are taken from reports prepared by Duval
Corporation, Molycorp, FMC Corporation, Coca Mines Inc., Hecla, Newmont
Exploration Limited, Phelps Dodge, Paso Rico (USA), and Rare Element. These data
are included in the archival information provided by Rare Element. All related and
pertinent referenced information are listed in Chapter 27 – References.
Peter Dahlberg P.E., General Manager, Roche Engineering is the primary author of
this report and has reviewed and supervised the preparation of all sections of the
report. Alan C. Noble, P.E. of Ore Reserves Engineering (O.R.E.) prepared the new
resource model and William L. Rose, P.E. of WLR Consulting Inc., prepared the new
mine plan and reserve estimate. Jaye T. Pickarts, P.E. Chief Operating Officer of
