Rare Element Resources Ltd. (NYSE MKT: REE and TSX: RES) a mineral resources company advancing development of the Bear Lodge Critical Rare Earth Project, is pleased to announce that is has received notification by the U.S. Forest Service (USFS) indicating that the Bear Lodge Project Plan of Operations is sufficient for the NEPA process to formally proceed. This notification allows the Company to advance the Project to the next step in the development process.
“We appreciate the efforts of the Bear Lodge District Forest Service office for the careful review of the proposed plan of operations for Bear Lodge and look forward to working with them as we advance the Project,” said Jaye T. Pickarts, Chief Operating Officer. “Completion of this step is a major environmental milestone as it included a review of every aspect of our planned operations and incorporated the extensive environmental and engineering work we have done to date. Rare Element Resources will continue to provide the necessary technical information and support for the NEPA process and to work with the USFS and other state and federal agencies to ensure the Bear Lodge Project is developed in a timely and environmentally responsible manner,” he concluded.
The Plan of Operations for Mining Activity on National Forest Systems Lands for the Bear Lodge Project provides a detailed outline of the planned operations, affected areas and environmental protection measures currently anticipated by the Company. A copy of the plan will be available on the Company’s website at www.rareelementresources.com starting on June 1, 2013.
The USFS is the lead agency in charge of the NEPA process, which will evaluate the potential impacts of the Project and identify relevant mitigation measures. An Environmental Impact Statement (“EIS”) will be prepared as part of process. In support of the EIS, the Company has been collecting baseline data within the project area for the last three years.
“We are very pleased to have completed this major project milestone,” said Randall J. Scott, President and Chief Executive Officer. “We consider ourselves very fortunate to have our project located in the great mining State of Wyoming. The existing infrastructure and talent pool in northeast Wyoming are excellent. We acknowledge Wyoming’s elected officials at all levels, State business leaders, and area residents who have a true appreciation of the value of natural resource development done right. We look forward to being a productive member of these great communities for a long time to come.”
Rare Element Resources Ltd. is a publicly traded mineral resource company focused on exploration and development of rare-earth element deposits, specifically those with significant distribution of critical rare earths. The Company is advancing development of the Bear Lodge Project, located in northeastern Wyoming. Bear Lodge is a significant mineralized district containing many of the less common, more valuable critical rare earths that are essential for electronics, fiber optics, laser systems for health and defense, as well as many evolving green technologies, like hybrid cars, solar panels and wind turbines. Permitting and feasibility work on the Project is currently underway.
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