Rare Element Announces Positive Economic Results from Pre-Feasibility Study at Bear Lodge

LAKEWOOD, COLORADO–(Marketwire – March 1, 2012) – Rare Element Resources Ltd. (TSX:RES)(NYSE Amex:REE) is pleased to announce the results of a positive Pre-Feasibility Study (PFS) for the Bear Lodge project, Wyoming. The PFS was commissioned to provide a technical document for the resource model, present the technical activities for the rare-earth exploration program, provide a detailed process description and present an economic analysis of the rare-earth resources. The results of the PFS show that the Bear Lodge project is technologically feasible with robust returns on invested capital.