LAKEWOOD, COLORADO -- (MARKET WIRE) -- 04/12/12

Rare Element Resources Ltd. (TSX:RES)(NYSE Amex:REE) (Rare Element or the Company) is pleased to announce that it has scheduled a conference call to discuss the previously announced Pre-Feasibility Study (PFS) and associated National Instrument 43-101 (NI 43-101) technical report filed on both SEDAR (www.sedar.com) and EDGAR (www.edgar.com) pursuant to the Company's continuing development of the Bear Lodge Project in northeastern Wyoming, USA. The core of the conference call will be dedicated to allow management time to outline the technical, operational and economic aspects of the PFS and NI 43-101. This will be followed by a question-and-answer session with analysts.

To access the call:

Participant toll-free number for North America: 800.355.4959

For participants outside of North America: 416-695-6616

For webcast participants: There will be a webcast link at www.rareelementresources.com.

To access the replay of the call:

Toll-free in North America: 800.408.3053

For replay of call outside of North America: 905.694.9451

The replay of the call will be available until April 24, 2012.

Rare Element Resources Ltd. (TSX:RES)(NYSE 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 located in northeastern Wyoming, USA.

For additional information, please refer to the Company's website at www.rareelementresources.com.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Rare Element Resources Ltd.
Anne Hite
Director of Investor Relations
(720) 278-2460
ahite@rareelementresources.com
www.rareelementresources.com