Staffing in place and operations shakedown underway

Rare Element Resources Ltd. (OTCQB: REEMF) is pleased to announce it has received the U.S. Nuclear Regulatory Commission operations approval under the previously issued license. This final approval, which was required for the commencement of operations at the Company’s rare earth processing and separation demonstration plant in Upton, Wyoming follows the recently announced U.S. Department of Energy’s operations budget acceptance and issuance of its continuation notice approving operations. The Demonstration Plant, which has been designed to advance the Company’s proprietary processing and separation technology, is expected to generate the operational and economic data necessary for the design of a commercial-scale plant.

Jaye Pickarts, a long-time consultant to the Company who was appointed as the Company’s Chief Operating Officer in early October, commented, “Following our previously announced DOE operations approval, we progressed the final pre-operational work at the plant, including preparing the sample feed material from our Bear Lodge project, and finalizing the plant’s equipment installation and interconnections, including final electrical, instrumentation and controls, and mechanical systems.  Currently, pre-startup testing of each of the plant’s processes as well as installation of our one-of-a-kind proprietary control system are progressing. The receipt of the NRC amendment now clears the way for the shakedown of equipment to commence, leading to the planned progression to full operations.” Mr. Pickarts added, “Led by our experienced plant manager, our staffing contractor, Wood plc out of Sheridan, Wyoming, has mobilized workers who are undertaking training. With these key approval milestones behind us, we can begin to realize our goal of unlocking the key information for progressing a commercial-scale plant.”

Rare Element Resources Ltd. is a publicly traded, strategic materials company focused on delivering rare earth products for technology, energy, and defense applications by advancing the Bear Lodge Rare Earth Project in northeast Wyoming. Bear Lodge is a significant mineralized district containing many of the less common, more valuable, critical rare earths that are essential for high-strength permanent magnets, electronics, fiber optics, laser systems for medical technology and defense, as well as technologies like electric vehicles, solar panels, and wind turbines.