Mr. Randall Scott reports

RARE ELEMENT RESOURCES NAMES LOWELL A. SHONK AS INTERIM CHAIRMAN AS PATRICK M. JAMES STEPS DOWN

Patrick M. James, chairman and director since 2014, has submitted his resignation to Rare Element Resources Ltd., effective immediately, due to personal reasons. The board has appointed Lowell A. Shonk as interim chairman and will reduce the size of the board from eight to seven.

"Pat, with over 45 years in executive roles within the mining industry, joined our board to share with us his insights on how to successfully transition from an exploration company to a rare earth producer," said Randall J. Scott, president and chief executive officer. "However, because of the professional he is, when Pat felt he was no longer able to give his full attention to this role, he made the choice to step down. We appreciate his many contributions to the board and his confidence in our ultimate success, and wish only the best for him and his family. In the interim, Lowell Shonk, a board member since early 2013, will assume the role of chairman. Lowell currently serves as chairman of our audit committee and has more than 30 years of experience in financial roles at large, diversified mining companies, like Phelps Dodge and Freeport-McMoran. With this experience, he is in an excellent position to help guide us as we advance the Bear Lodge project."