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Rare Element Summarizes Results From Its 2010 REE Exploration Program And Outlines Its 2011 REE Exploration Program

Significant assay results from the 2010 REE drilling program are given in Table 1.

Table 1. Significant drill results from the Rare Element Resources 2010 REE drilling program (intercepts >30 feet and >3.46% TREO). -

Bull Hill Southwest Resource Area

Fifty core holes totaling 32,729 feet (9,978m) were drilled in the Bull Hill SW resource area in 2010 (Figure 2). Significant intercepts are summarized in Table 1. Most of the holes were drilled along a N45ºE azimuth, at 100 or 200 foot spacing from a series of sites along a N45ºE-trending resource evaluation grid established in conjunction with Ore Reserves Engineering, the Company's resource estimation consultant (Figures 2 and 4). Inclination angles were most commonly at -45º and -70º, or at minor deviations from those angles. Several of the holes were drilled on the same grid at an azimuth of S45ºW, again at inclination angles of at or near -45º and -70º. Drilling results confirm that the target FMR and carbonatite bodies exhibit strong REE mineralization over a strike length of more than 1400 feet (426m). Interpretive correlations of drill intercepts suggest a structural bias of the mineralized bodies toward vertical or near vertical dips.

Figure 4. Plan view of drill hole traces and mineralized intercepts projected to the surface. Note the apparent transition from northwesterly to northerly strikes of the mineralized bodies in the northern third and at the southeastern margin of the Bull Hill SW resource area. -

Geological interpretation of results from the 2011 drill program indicate that the Bull Hill SW resource area is dominated by northwest-striking mineralized bodies in the southern two-thirds of the resource area, while the northern part of the resource area exhibits a transitional change in strike from northwesterly to almost due north (Figure 4). The Bull Hill SW resource is open along strike to the southeast. The REE mineralization is contained within a main dike that can have a true width of up to about 119 feet (36m) and subordinate, sub parallel dikes and stockwork. There may be a second north-trending zone of mineralized dikes at the southeastern end of the current resource (Figure 4).

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