Rare Element Appoints Randall J. Scott as President and CEO - Former
President and CEO Ranta named Chairman
Rare Element Resources Ltd. (NYSE-Amex: REE and TSX: RES) (the
"Company") is pleased to announce that Mr. Randall J. Scott, MBA, has
been appointed as President and Chief Executive Officer of the Company as of
December 15, 2011.
Mr. Scott is a metallurgical engineer with over 30 years of experience in the
industry. His experience includes leading performance teams in operations,
administration, project development, program management, business development,
and major improvement initiatives for companies ranging in size from
entrepreneurial start-up to major mining companies. His strong project
management skills with emphasis on creating a team environment will benefit
shareholders, stakeholders and employees of the Company.
Most recently, Mr. Scott was Vice President, Corporate Responsibility and
Strategy, with Thompson Creek Metals Company. His prior experience includes
Senior Vice President and Vice President of Cyprus Amax Coal Company with responsibilities
ranging from Western Operations, including mines in the Gillette area of
Wyoming, Appalachian Operations, and process management. He also worked for
Cyprus Metals Company as Vice President and General Manager of the Bagdad Mine
and also of the Sierrita Mine, both in Arizona.
Earlier he worked for Pincock Allen & Holt as
Executive Vice President.
Mr. Scott holds a Bachelor of Science degree in metallurgical engineering from
the Colorado School of Mines and an MBA degree from the University of Arizona.
Mr. M. Norman Anderson, will step down from the Chairman of the Board position
but will remain a director of the Company while Dr. Donald E. Ranta, former President and CEO, has been named Chairman.
Dr. Ranta led the search for Mr. Scott and noted that
"Rare Element is extremely pleased to have such a high caliber individual
to lead the Company as it transitions from exploration to development and as
the Bear Lodge project progresses toward future production. Throughout his
career, Mr. Scott has repeatedly demonstrated his ability to create and
communicate strategic vision and to lead diverse, multi-disciplinary teams in
fast changing and challenging environments. He has created and managed
successful relationships with important stakeholders including internal and
external customers, local communities, and suppliers. Mr. Scott's experience in
mine development, mining operations, and leadership of all aspects of mining
companies will be another strong asset for Rare Element as we contemplate future
rare earth production from the Bear Lodge project in Wyoming."
Dr. Ranta has been the President and Chief Executive
Officer of Rare Element since 2007. In his new role as Chairman and director of
the Company, he will continue to focus on building shareholder value through
investor relations, financing, strategic partnership arrangements, off-take
agreements, and support and oversight of the development of the Company's
flagship rare earth project in Wyoming.
With the addition of Mr. Scott and the transition of Dr. Ranta
to Chairman of the Board, the management of Rare Element has been significantly
expanded to meet the challenges involved with growing from an exploration and
development company into an anticipated rare earth element producing company. This team of dedicated and highly experienced professionals includes:
- Jaye T. Pickarts, P.E., Chief Operating Officer, with over 25
years' experience in project evaluation and operations;
- David P. Suleski,
BBA, CPA, Chief Financial Officer, with over 20 years of accounting and
financial experience in the mineral industry;
- Dr. James G. Clark, Ph.D., L.Geo., Vice President of Exploration, with over 25
years' experience and extensive exploration experience working at the Bear
Lodge property intermittently since 1986;
- George G. Byers, Vice President
of Government & Community Relations, with over 35 years of experience
in mining and energy governmental relations at federal, state and local
Rare Element Resources Ltd (TSX: RES & AMEX: REE) is a publicly
traded mineral resource company focused on exploration and development of
rare-earth elements and gold on the Bear Lodge property.