Company Website:
http://www.rareelementresources.com
LAKEWOOD, Colo. -- (Business Wire)
Rare Element Resources Ltd. (NYSE MKT: REE and TSX: RES), a
mineral resources company advancing development of the Bear Lodge
Critical Rare Earth Project located in northeast Wyoming, received
notice from the Bearlodge Ranger District office of the US Forest
Service (USFS), the lead agency on the Environmental Impact Statement
(EIS) for the Bear Lodge Project, that it anticipates completion of the
draft EIS in late summer 2015. The USFS also announced expected
availability of the final record of decision (ROD) in late summer 2016.
Adherence to this schedule will allow the Bear Lodge Project to stay on
track to begin commissioning as early as mid-2017, pending receipt of
federal, state and local permits and financing. This is in line with the
updated schedule announced in the November 10, 2014 press release.
“We are pleased that the new timeline from the USFS is consistent with
our anticipated timetable and will allow us to begin commissioning as
early as mid-2017,” stated Randall J. Scott, President and Chief
Executive Officer. “We are grateful to the many leaders in both
Washington and the State of Wyoming who have publicly acknowledged the
significance of the Bear Lodge Project, both from an economic and a
national security perspective, and are committed to helping bring the
Project into production in as timely a manner as possible.”
The alternative identification portion of the EIS was completed earlier
this year, and the Company anticipates it will submit certain
applications in the second quarter, which will include the mine permit
application to the Wyoming Department of Environmental Quality.
Rare Element Resources Ltd. is a publicly traded mineral resource
company focused on exploration and development of rare-earth element
deposits, specifically those with significant distribution of critical
rare earths. The Company is advancing development of the Bear Lodge
Project, located 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 a 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. Please see CMI’s website at https://cmi.ameslab.gov/
for additional details on its mission and members.
For additional information, please visit the Company’s website at www.rareelementresources.com
or contact Robbin Lee at 720-278-2462 or rlee@rareelementresources.com.
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 expected
timing and completion of permitting, technology test work and results,
ability to attract offtake partners and the ability to finance planned
activities.
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; results from geological
evaluations and programs; timing of and unexpected events at the Bear
Lodge property; changes in U.S. and Canadian securities markets; and our
ability to raise additional financing necessary to 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 United 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.
Contacts:
Rare Element Resources Ltd.
Robbin Lee, 720-278-2462
rlee@rareelementresources.com
Source: Rare Element Resources Ltd.
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