Rare Element Resources Announces First Quarter Results

Tuesday May 12, 2015, 11:16am PDT

Rare Element Resources Ltd. (NYSEMKT: REE) announced it has filed its unaudited consolidated financial statements for the three-months ended March 31, 2015 on www.sec.gov and www.sedar.com.

As quoted in the press release

Lower exploration and evaluation spending of $1.7 million, as the Company shifted its focus from the preliminary feasibility study (PFS) and pilot plant metallurgical work to ongoing permitting and separation studies; and

Lower corporate administrative cost of $0.3 million, primarily due to the continued focus on cost containment.

Randall J. Scott, President and Chief Executive Officer stated:

We started to see growing interest in the rare earth space in the first quarter with renewed attention to our Bear Lodge Project and increased media focus on the sector. The Project received statements of support from both the Wyoming legislature and the state’s economic development branch recognizing its importance to not only Wyoming but to the nation. The U.S. Forest Service also provided an updated schedule that indicates they will have the draft environmental impact statement available early this fall.