Rare Element Resources Ltd. announced several changes to its board of directors, which represent diverse backgrounds in business, finance, technology, and mobility that will guide REE's strategic vision. REE appointed the following two new directors, Mr. Hicham Abdessamad and Mr. Ittamar Givton to its Board. Mr. Givton will serve as an independent director and will be a member of the Company's Audit Committee.

These appointments, effective March 29, 2023, will bring the board to seven directors, of which four are independent directors and will satisfy the Nasdaq minimum requirements for the audit committee. REE also announced the resignation of board member Mr. Hans Thomas, due to personal reasons. Mr. Hicham Abdessamad (Director) Hicham is the Chairman & CEO of Hitachi America, Ltd, overseeing the growth objectives of Hitachi's North America business across key sectors such as Digital, Green & Mobility, and Innovation.

Hitachi in North America has a portfolio of 72 companies and 19 R&D facilities operating in 37 states, with over 24,700 employees. He also serves as an advisor on the investment advisory committee (IAC) appointed by the United States Secretary of Commerce, Gina Raimondo. Hicham has held multiple executive roles within Hitachi, including CEO of Hitachi Global Digital Holdings, President and CEO of Hitachi Consulting.

Mr. Ittamar Givton (Independent Director and Member of the Audit Committee) Ittamar served on the boards of several Government entities and public companies in Israel, across the energy, banking, chemical, and communication sectors as well as on the board of the Israeli Stock Exchange. In addition, Ittamar served for many years as Managing Director of Automotive Equipment Group in Israel (importer of Suzuki, Man and Bridgestone, among others) and is now serving as Chairman of the Group's Advisory Committee. Prior to his work in AEG, Ittamar held a senior position in the Budget Department of the Israeli Ministry of Finance and later served as VP for Business Development in the Dankner Group.

Mr. Givton holds a BA in Economics from Tel Aviv University and an LL.B from the Hebrew University in Jerusalem.