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Rare Element Reports on Progress of Metallurgical Testwork on Bear Lodge Rare Earth Project

Poised to Begin definitive Feasibility Study in Early 2013

Press Release: Rare Element Resources Ltd. – 5 hours ago

LAKEWOOD, COLORADO--(Marketwire - Oct 10, 2012) - Rare Element Resources Ltd. (RES.TO)(NYSE Amex:REE)(NYSE MKT:REE) is pleased to announce that in-depth metallurgical and process data are being developed to be incorporated into the Bear Lodge Rare Earth Project''s definitive Feasibility Study (FS) scheduled to commence in Q1 2013.

Jaye T. Pickarts, Chief Operating Officer, remarked, "We are continuing the technical work necessary to advance our process and introduce efficiencies that will be incorporated in the FS. To that end, we are working on numerous studies to optimize our development plan. Our goal is to implement the most efficient, effective and environmentally sound process to concentrate the rare earth elements (REEs) found at Bear Lodge and the surrounding target areas."

Denny Schlesinger
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