News Releases

Vancouver B.C. - Rare Element Resources Ltd. (TSX-V: RES) is pleased to announce that drilling has begun on the Bear Lodge rare-earths project in Wyoming. Exploration activity during 2010 is focused on: 1) upgrading the resource category from inferred to measured and indicated for a portion of the rare-earth-element (REE) deposit; 2) expansion of the currently known REE deposits; and 3) discovery of additional REE-mineralized deposits within known target areas.

Magnets are the driving market for rare earth demand. Not only is it the dominant consumer by volume (32%) and value (38%, $500-550m.), but the applications of magnets are in critical environmental and defence technologies.

Fears of a supply shortage outside China have triggered a global rush to develop alternative sources of rare earth elements, critical to defence and clean energy technology.

Magnets have been at the heart of the furore surrounding the rare earth industry. The present and future use of rare earth permanent magnets in key defence and green technologies, from missiles to electric vehicles to wind turbine generators’ have been a primary reason for the attention that this group of elements now commands at government level.

Rare Element Resources Ltd. (RES:TSXV) is pleased to announce the results of an updated mineral resource estimate of rare-earth elements ("REE") plus yttrium contained in two deposits located in the Bull Hill area of the Bear Lodge project, Wyoming.

Vancouver, BC -- Rare Element Resources Ltd. (TSX-V: RES) ("Rare Element" or the "Company") announces that the Company has signed an agreement with Newmont North American Exploration Ltd. ("Newmont") that Newmont will not exercise its option to acquire a 65% interest in the gold and base metals at the Sundance Venture of Rare Element's Bear Lodge property, Wyoming.

Rare Element Resources Ltd. (TSX-V: RES) ("Rare Element" or the "Company") is pleased to announce the appointment of Dr. Tony Mariano and Mr. Matt Bender to its Advisory Board.

Vancouver, BC -- Rare Element Resources Ltd. (TSX-V: RES) ("Rare Element" or the "Company") is pleased to announce that it has retained the services of a government affairs specialist to advance project development activities on the Bear Lodge rare-earths project, Wyoming. With the guidance of Mr. George G. Byers, the Company has initiated a program to educate federal, state, and local government officials and community leaders about the quality and quantity of the Bear Lodge rare-earth resources, and about its exceptional exploration and development potential.

U.S. lawmakers called for a hearing after a government report exposed potential “vulnerabilities” for the American military because of its extensive use of Chinese metals in smart bombs, night-vision goggles and radar.

Vancouver, BC -- Rare Element Resources Ltd. (TSX-V: RES) ("Rare Element" or the "Company") announces that the $7.8 million financing announced on March 17, 2010 has been fully subscribed, and part of the Over-Allotment Option has been exercised by the Agents. The financing was for a total of 2,531,501 units (the "Units") of the Company at a price of $3.50 per Unit (the "Offering Price"), for gross proceeds of $8,860,253.