Rare Element Resources Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023

Rare Element Resources Ltd. is a materials company. Its Bear Lodge Property includes two projects, the Bear Lodge Rare Earth Project (the Bear Lodge REE Project) and the Sundance Gold Project. It is focused on delivering rare earth products for technology, energy, and defense applications by advancing the Bear Lodge Rare Earth Project 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 permanent magnets, electronics, fiber optics, laser systems for medical technology and defense, as well as technologies. The Bear Lodge REE Project includes the Bull Hill and Whitetail Ridge deposits and the exploration targets of East Taylor and Carbon Hill deposits, all of which are located near Sundance, Wyoming. The Bear Lodge REE Project lies about seven air miles or 12 road miles northwest of the town of Sundance, Wyoming. Its Sundance Gold Project is located on its Bear Lodge Property.