Rare Element Resources Ltd. (the “Company”) (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 Tetra
Tech, Inc., Mining and Minerals, an environmental, engineering, program
management, construction management, consulting and technical services
company, has been selected by the US Forest Service (USFS) Bearlodge
Ranger District to act as the prime contractor to prepare the Bear Lodge
Project Environmental Impact Statement (EIS). Additionally, the USFS
Bearlodge Ranger District has selected Jeanette Timm, a 25-year Forest
Service professional currently assigned to the Black Hills National
Forest, to act as Project Manager for the EIS. Ms. Timm will direct the
efforts of the EIS consultant and provide oversight of the process to
ensure the timely and thorough preparation of the EIS in accordance with
the National Environmental Policy Act (NEPA).
“As we move into this next major phase in the development of the Bear
Lodge Project, we are pleased to have such a talented team of
environmental experts heading this important process,” stated Jaye
Pickarts, Chief Operating Officer. “Ms. Timm has worked in the USFS
Sundance Office for many years and is very familiar with the Bear Lodge
Project. This experience makes her an excellent choice to manage this
process. When you combine this with the over 40 years of NEPA experience
of Tetra Tech, we are confident that the EIS will be completed in a
timely manner that will also ensure meeting the high standards of the
NEPA process and with the full engagement of the public.”
The NEPA process requires that proposed impacts are fully evaluated to
help key decision-makers and stakeholders balance the related activities
and their recommended mitigation steps with their impacts on the
surrounding human and natural environment. It is expected that the first
activities undertaken by the EIS team will be the preparation of an EIS
project timeline and a public participation plan, followed by project
scoping.
Over the past three years, Rare Element has gathered environmental
baseline data on the natural resources within the project and
surrounding areas. In addition, the Company has completed multiple
environmental studies to provide the starting point for the assessment
of potential impacts to human health and the environment. The data will
be provided to the USFS for inclusion in the EIS. Additionally, the
Company has conducted several public update sessions to ensure
stakeholders are fully informed on the planned activities.
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 northeast 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.
For additional information, please visit the Company’s website at www.rareelementresources.com
or contact Robbin Lee at 720-278-2462 or rlee@rareelementresources.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning
of securities legislation in the United States and Canada. Except for
statements of historical fact, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
usually identified by our use of certain terminology, including "will",
"believes", "may", "expects", "should", "seeks", "anticipates", "plans",
"has potential to", or "intends" or by discussions of strategy or
intentions. Such forward-looking statements include statements regarding
the permitting process and timeline, processing test work and expected
results, and project development plans for the future. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results or
achievements to be materially different from any future results or
achievements expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially include,
but are not limited to, the progress of our Bear Lodge Project,
including the permitting process; fluctuations in demand for, and price
of, rare earth products; success of process technology under testing;
timing of and unexpected events at the Bear Lodge property; delay or
failure to receive government approvals and permits; changes in U.S. and
Canadian securities markets; and general economic conditions. There can
be no assurance that future developments affecting the Company will be
those anticipated by management. Please refer to the discussion of these
and other factors set out in our filings made from time to time with the
SEC and Canadian securities regulators, including but without
limitation, our reports on Form 10-K and Form 10Q. We expect that the
above estimates as to development plans, technology and other processes,
time frames and financial needs will change as new information is
received and that actual results will vary from these estimates,
possibly by material amounts. While we may elect to update these
estimates at any time, we do not undertake to update any estimate at any
particular time or in response to any particular event. Investors and
others should not assume that any forecasts in this press release
represent management's estimate as of any date other than the date of
this press release.
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