July 15, 2015 - Lakewood, Colorado - Rare Element Resources Ltd. (the "Company") (NYSE MKT: REE and TSX: RES), a strategic materials company focused on delivering rare earth products to technology and defense industries by advancing the Bear Lodge Critical Rare Earth Project in northeast Wyoming, is pleased to announce that the Geological Society of Nevada has published a paper on the geological structure, exploration methods and history, and development plans for the Bear Lodge Project entitled, "Exploration for REE and Gold in the Bear Lodge Tertiary Alkaline Complex, Crook County, Wyoming." Over 1,100 people attended the Geological Society of Nevada's 2015 Symposium, held in Sparks, Nevada in May 2015, where the paper was presented. The paper, coauthored by John Ray, Chief Geologist for Rare Element, and Dr. James Clark, President of Applied Petrographics and former Vice President of Exploration for the Company, was published in New Concepts and Discoveries: Geological Society of Nevada Symposium 2015, Editors W. M. Pennell and L. J. Garside.

"The Bear Lodge Project occurs within a large-scale alkaline igneous complex that has been explored during the past century for copper, molybdenum, uranium, gold and rare earths," said John T. Ray, Chief Geologist and coauthor of the paper. "Recent efforts have resulted in the discovery of a world-class carbonatite-hosted REE district containing four identified deposits and multiple mineralized areas that have varying degrees of heavy rare earth enrichment. This paper helps the reader understand the geological history of the area and the opportunity for additional discovery that exists today as we continue to evaluate and develop resources in the region."

The paper, "Ray, J. T., and Clark, J. G., 2015, Exploration for REE and Gold in the Bear Lodge Tertiary Alkaline Complex, Cook County, Wyoming, in Pennell, W. M. and Garside, L. J., eds., New Concepts and Discoveries: Geological Society of Nevada Symposium Proceedings, May 2015, Sparks, Nevada, p. 905-920," can be accessed on the Company's website at www.rareelementresources.com under Bear Lodge Project and Geology and Mineralization or by using the link below:

http://www.rareelementresources.com/bear-lodge-project/project-related-studies-reports/exploration---bear-lodge-tertiary-alkaline-complex

Rare Element Resources Ltd. is a publicly traded, strategic materials company focused on delivering rare earth products to technology and defense industries by advancing the Bear Lodge Critical 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 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 continue to advance. The Company is an affiliate member of the U.S. Department of Energy's Critical Materials Institute, a combined government and private sector organization committed to eliminating supply chain issues for rare earths and other critical elements.

For additional information, please visit the Company's website at www.rareelementresources.com or contact Robbin Lee at 720-278-2462 or [email protected]

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the respective meanings 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" (including negative or grammatical variations thereof) or by discussions of strategy or intentions. Such forward-looking statements include statements regarding the expecting timing and outcomes relating to state and federal permit applications and approvals.

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 progression plans for the Bear Lodge Project, delay or failure to receive government approvals and permits; the progress and results of the feasibility study, fluctuations in demand for, and price of, rare earth products; success of process technology under testing or development and timing; results from geological evaluations and programs; timing of and unexpected events at the Bear Lodge property and in connection with construction of the pilot plant;; changes in U.S. and Canadian securities markets; and our ability to raise additional financing necessary to construct the pilot plant and conduct our business. 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 Unite States Securities and Exchange Commission, and the Canadian securities regulators, including without limitation, the Company's most recent reports on Form 10-K and Form 10-Q. We do not undertake to update any statements or estimate at any particular time or in response to any particular event. Investors and others should not assume that any forecasts in this news release represent management's estimate as of any date other than the date of this news release.