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Re:        News Release - Wednesday, March 17, 2010
Title:     Rare Element Resources Ltd. Announces $7.8 Million Offering


Vancouver, BC - Rare Element Resources Ltd. (TSX-V: RES) ("Rare Element" or the "Company") has filed a preliminary short-form prospectus in connection with an offering (the "Offering") of up to 2,250,000 units (the "Units") of the Company at a price of $3.50 per Unit (the "Offering Price") for gross proceeds of up to $7,875,000. Each Unit is comprised of one common share and one-half of one transferable common share purchase warrant (a "Warrant"). Each full Warrant will entitle the holder thereof to purchase one common share of the Company (a "Warrant Share") for a period of 18 months from the closing of the Offering at a price of $4.75 per Warrant Share.

The proceeds of the Offering will be used for the advancement of the Company's Bear Lodge, Wyoming, Rare Earth Elements ("REE") project including:
  • Updating of the Company's NI 43-101 compliant resource estimate with the recently announced results from the 2009 drill program.
  • Additional drilling of the REE resource area to expand and upgrade the resource.
  • Additional drilling of the REE targets outside of the current resource area.
  • Continuation of the ongoing metallurgical testing.
  • Completion of the scoping study in the summer of 2010.
  • Acquiring and exploring new projects.
  • For general working capital requirements.
The planning for the 2010 drilling program is underway and will be completed after further analysis of the results from the 2009 drilling program.

The Offering will be conducted on a "best efforts" basis, with the Offering syndicate being led by Pope & Company Limited with Jacob Securities Inc. as a syndicate partner (collectively, the "Agents"), and Global Hunter Securities LLC, as the Company's U.S. placement agent. The Company has agreed to grant to the Agents an option (the "Over-Allotment Option"), exercisable at any time until the date which is 30 days following the closing date of the Offering, to sell up to an additional 337,500 Units of the Corporation at the Offering Price to cover over-allotments, if any, and for market stabilization purposes.

The Company has agreed to pay to the Agents a cash commission of 6% of the gross proceeds of the Offering and to issue to the Agents that number of warrants (the "Agents' Warrants") as is equal to 6% of the number of Units sold, including any Units sold pursuant to the Over-Allotment Option, for their services in connection with the Offering. Each Agents' Warrant will entitle the holder thereof to purchase one Agents' Unit at the Offering Price at any time up to the date that is 18 months following the closing date of the Offering, with each Agents' Unit comprised of one common share of the Company and one-half of one common share purchase warrant (each an "Underlying Agents' Warrant"). Each Underlying Agents' Warrant will entitle the holder thereof to purchase one common share of the Company for an exercise price of $4.75 per common share until such date that is 18 months following the closing date of the Offering.

The Units will be offered for sale in each of the Provinces of Alberta, British Columbia and Ontario and on a private placement basis in the United States pursuant to exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and in accordance with the applicable securities laws of any state of the United States.

The closing of the Offering is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The securities have not been and will not be registered under the U.S. Securities Act or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States or to, or for the account or benefit of, a "U.S. Person" (as defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Company's securities set out herein in the United States, or to, or for the benefit or account of, a U.S. Person or person in the United States.

Rare Element Resources Ltd (TSX-V:RES) is a publicly traded mineral resource company focused on exploration and development of rare-earth elements and gold on the Bear Lodge property. Gold exploration in the Bear Lodge Mountains has been conducted for several decades with several companies significantly contributing to the database and understanding. Newmont Mining Corporation's recent exploration efforts were the most comprehensive and extensive of these programs.

Rare Element's Bear Lodge property encompasses one of the largest disseminated rare-earth occurrences in North America (M H Staatz, 1983, US Geological Survey Professional Paper 1049D). In parallel with the gold-focused exploration project, Rare Element has completed an NI 43-101-compliant resource estimate and a Technical Report on the Bear Lodge Rare-Earth Mineralization. The Company holds a 100% interest in the property, is continuing with drilling and a metallurgical testing program, and has begun a scoping study to accomplish a preliminary engineering-economic assessment of the rare-earth project.

ON BEHALF OF THE BOARD
Donald E Ranta, PhD, PGeo,
President & CEO

Further information on this financing can be obtained from:
Mark Knapp
Head of Institutional Sales and Trading
Pope & Company Limited
(416) 588-6419

For further information on Rare Element Resources Ltd., please refer to the Company's website at www.rareelementresources.com or contact:

Donald E Ranta, President & CEO, (604) 687-3520
don@rareelementresources.com

Mark T. Brown, CFO, (604) 687-3520 ext 242
mtbrown@pacificopportunity..com.

Donald E. Ranta, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr. Ranta and has been prepared in accordance with Canadian regulatory requirements that are set out in National Instrument 43-101. This news release was prepared by Company management, which takes full responsibility for content. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright � 2010 RARE ELEMENT RESOURCES LTD. (RES.V) All rights reserved. For more information visit our website at http://www.rareelementresources.com/ or send email to info@rareelementresources.com ..

Rare Element Resources Ltd.

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In the News and Medias of Rare Element Resources Ltd.
8/25/2010Rare Element Resources shares surge for second day
Annual reports of Rare Element Resources Ltd.
2007 Annual report
Option Grants of Rare Element Resources Ltd.
3/24/2011Grants 985,000 stock options at $10,50
Nominations of Rare Element Resources Ltd.
12/12/2013Appoints Paul H. ZInk as CFO
8/6/2013Appoints Gerald Grandey to Board of Directors
4/29/2013Appoints Robbin Lee as Director of Investor Relations
4/24/2013Announces Appointment of Lowell A. Shonk to Board of Directo...
11/13/2012Appoints Dr. Henry Kasaini as Director of Science and Techno...
7/2/2012Appoints Kelli C. Kast, Esq., as Vice President and General ...
2/6/2012Announces Randall J. Scott & Paul Zink Appointed to the Boar...
12/19/2011Appoints Randall J. Scott as President and CEO - Former Pres...
12/15/2011Appoints Randall J. Scott as President and CEO
8/24/2011appoints Chief Financial Officer
7/13/2011Appoints Paul Schlauch as Director and Norman Anderson as Ch...
3/24/2011Appoints 2011 Geological Team & Grants Options
3/14/2011Appoints Jaye Pickarts as Chief Operating Officer
2/17/2011 Appoints George Byers as VP - Government & Community Relati...
5/5/2010Appoints Dr. Tony Mariano and Matt Bender to Advisory Board
Financials of Rare Element Resources Ltd.
8/9/2013Reports June 30, 2013 Financial Results
5/8/2013Reports March 31, 2013 Financial Results
11/6/2012Announces September 30, 2012 First Quarter Financial Results
5/10/2012Files March 31, 2012 Third Quarter Financial Results
2/14/2011Reports Second Quarter Financial Results
11/16/2010Reports First Quarter Financial Results
Project news of Rare Element Resources Ltd.
2/6/2014(Bear Lodge)EIS Begins on Rare Element's Bear Lodge Project
12/19/2013Increases Resource at Whitetail Ridge
11/11/2013Pilot Plant Testing Validates Advantanges
9/19/2013(Bear Lodge)Enters into Memorandum of Understanding with US Forest Servi...
8/14/2013(Bear Lodge)Extends 2013 Bear Lodge Development Drilling Program
5/23/2013(Bear Lodge)Development Milestone Achieved at Rare Element's Bear Lodge ...
3/18/2013(Bear Lodge)Reports 65 Percent Increase of Total M&I Rare-Earth Mineral...
10/10/2012(Bear Lodge)Reports on Progress of Metallurgical Testwork on Bear Lodge ...
9/26/2012Reports Positive 2012 Drilling Program Results
6/26/2012Reports 2012 Drilling and Exploration Program Underway
5/7/2012Reports 10 Percent Increase of M & I Rare-Earth Mineral Reso...
12/5/2011(Bear Lodge)Announces Completion of 2011 Drilling Program at Bear Lodge
11/10/2010(Bear Lodge)Reports Additional REE Assays From Bull Hill SW and Initial ...
11/10/2010(Sundance Gold)Reports Second Round 2010 Gold Drilling Assays
11/10/2010(Bear Lodge)files Preliminary Economic Assessment of the Bear Lodge Rare...
10/5/2011(Bear Lodge)Bear Lodge exploration advances rapidly
7/28/2011Applauds U.S. House Committee Passage of Strategic Resource...
5/18/2011(Bear Lodge)Summarizes Results from its 2010 REE Exploration Program and...
4/6/2011(Bear Lodge)Reports Final REE Assay Results from 2010 Drilling at the Bu...
3/17/2011(Sundance Gold)Reports Inferred Mineral Resource Estimate for Sundance Gold...
2/17/2011(Bear Lodge) Appoints George Byers as VP - Government & Community Relati...
2/7/2011(Bear Lodge)Reports Additional REE Assays From Resource Areas and a New ...
1/11/2011(Bear Lodge)Reports Additional Rare Earth Assays From the Bull Hill SW R...
1/6/2011(Sundance Gold)Reports Final 2010 Gold Drilling Assay Results, Including So...
10/13/2010(Bear Lodge)Reports Collection of Bulk Sample for Proposed Pilot Plant T...
9/29/2010(Bear Lodge)Announces Positive Results of Scoping Study on Bear Lodge Ra...
9/16/2010(Bear Lodge)Reports Initial Drilling Results from 2010 Rare Earths Drill...
5/27/2010(Bear Lodge)0% Increase in Rare-Earth Mineral Resources
4/28/2010(Bear Lodge)Initiates Government Affairs Program
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10/20/2009(Bear Lodge)Begins a Scoping Study on Rare-Earth-Element Potential at Be...
9/29/2009(Bear Lodge)Makes Significant Progress with Rare-Earths Metallurgical Te...
8/24/2009(Bear Lodge)Initiates 2009 Rare-Earths Drilling Program
7/13/2009(Bear Lodge) Receives Permit for Expanded Drill Program
3/31/2008(Bear Lodge)Reports Rare-Earths Drill Results
Corporate news of Rare Element Resources Ltd.
2/27/2014to Participate in Largest Mining Conference of the Year
2/3/2014Transitions Geological Team
1/21/2014Files for Utility Patent on Recovery Technology
12/19/2013Trouble with the tables?
12/16/2013Announce EIS Contractor and PM
11/12/20133rd Quarter Results
9/25/2013Announces $8.0 Million Offering
6/11/2013Files Shelf Registration
6/5/2013Independent Labs Confirm Success of Rare Element's Proprieta...
5/3/2013Files NI 43-101 Technical Report Detailing Previously Announ...
4/19/2013Mark T. Brown Resigns as Director of Rare Element
3/18/2013Reports December 31, 2012 Financial Results, Substantial Inc...
3/11/2013Reports Additional Drilling Results High in Critical Rare Ea...
3/4/2013Bench Scale Metallurgical Processing Tests Produce a 90+% R...
2/25/2013to Present at Upcoming PDAC 2013 Investor Exchange
2/20/2013provides information of cease trade on TSX
2/11/2013Announces Priorities for 2013
12/10/2012Drilling Results Expand District-wide Enrichment Zones of Cr...
11/8/2012Announces Annual General Meeting and Director Nominees; Adop...
10/16/2012Provides Support to Colleges and Universities for REE Resear...
9/21/2012Added to S&P/TSX SmallCap Index
9/13/2012(Bear Lodge)Announces June 30, 2012 Year End and Fourth Quarter Financia...
8/13/2012s Its Community Relations Activities
5/7/2012Reports 10 Percent Increase of M & I Rare-Earth Mineral Reso...
4/13/2012(Bear Lodge)Announces Revised and Improved Economic Results from Pre-Fe...
4/12/2012Schedules Conference Call for Tuesday, April 17, 2012, 3:30p...
3/26/2012Reports Additional 2011 Rare Earth Element and Gold Drilling...
3/15/2012Commences Separation Testing and Heavy Rare Earth Testing
3/1/2012(Bear Lodge)Announces Positive Economic Results from Pre-Feasibility Stu...
2/27/2012Reports 2011 Gold Drilling Assay Results, Including the Best...
2/10/2012(Bear Lodge)Files December 31 Second Quarter Financial Results and Updat...
1/22/2012Chairman Don Ranta interviewed by Charles Payne on Fox Busin...
1/4/2012(Bear Lodge)Reports 38 Percent Increase of M & I Rare-Earth Mineral Reso...
12/21/2011Reports Additional Drilling Results And Progress with Pilot ...
11/10/2011(Bear Lodge)Files September 30 Financial Results And Commencement of Pre...
11/8/2011mentioned in John Kaiser interview by The Critical Metals Re...
10/27/2011(Bear Lodge)Reports Initial 2011 Drilling Results From Bear Lodge
9/7/2011Releases Rare Earth Metallurgical Test Results and Begins Pi...
8/15/2011Ringing the Opening Bell of the NYSE Amex on August 16, 2011
8/5/2011(Bear Lodge)Discovers Heavy Rare Earths at Whitetail Ridge, East Taylor ...
8/4/2011Discovers Heavy Rare Earths at Whitetail Ridge, East Taylor ...
7/27/2011Applauds U.S. House Committee Passage of Strategic Resources...
6/28/20112011 REE Drilling Underway
6/14/2011(Bear Lodge)Reports Upgrade and Significant Increase of Rare-Earth Miner...
5/26/2011shares to trade on the Toronto Stock Exchange on May 27, 201...
11/8/2010Receives $5.8 Million and Implements a Shareholder Rights Pl...
12/14/2010Files Final Prospectus in Canada
9/22/2010Reports Initial Gold Assays
8/17/2010to commence trading on the NYSE Amex
8/18/2010Makes Progress Toward a Commercial Process with Rare-Earths ...
7/13/2010Drilling Begins at Rare Element's Sundance Gold Project
6/28/2010Makes Progress with Government Affairs Program
5/12/2010Maintains 100% Interest in gold
4/13/2010Closes $8.8 Million Financing
3/18/2010$7.8 Million Offering
2/5/2010Named to 2010 TSX Venture 50
1/8/2010Acquires Nuiklavik REE Project in Labrador, Canada
12/7/20092009 Drill Program Tests Gold Targets at Bear Lodge
12/1/2009Options Eden Lake Rare-Earth Property to Medallion
11/19/2009Files US SEC Registration Form 20F
10/22/2009US government begins to focus on rare earths
10/13/2009Identifies High-Potential Whitetail Ridge Rare-Earth Target
7/21/2009Drilling Begins at Rare Element's Sundance Gold Venture
5/23/2009increases financing to $1,500,000, files Tier One applicatio...
10/21/2008Makes Progress with 2008 Exploration Program and Provides Fi...
7/15/2008s Resources' Gold Exploration Program Initiated
5/29/2008Reports on Gold Metallurgical Test Results
2/18/2008's Rare-Earths Metallurgical Testing Underway
1/17/2008' new corporate profile
1/11/2008Upcoming conference
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TORONTO (RES.TO)Other OTC (RRLMF)
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