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To: LoneClone who wrote (12058)	12/18/2007 9:48:44 PM
From: LoneClone	Read Replies (1) \| Respond to of 193686

Rare Element Reports Encouraging Rare-Earths Drill Results from Bear Lodge Property Tue Dec 18, 9:31 AM ca.news.finance.yahoo.com Directors Re-elected at Annual Meeting; Updating of Corporate Material TSX-V: RES VANCOUVER, Dec. 18 /CNW/ - Rare Element Resources Ltd. (TSX-V: RES.V) is pleased to announce initial rare-earth-element (REE) assay results from the 2007 core drilling program completed on the Company's 100% owned Bear Lodge property in northeastern Wyoming. The highlight of these results is an aggregate true thickness of 111.9 feet over four separate mineralized intervals averaging 4.69% REE in drill-hole RES 07-1, as detailed below. The rare-earth mineralization encountered in drill-hole RES 07-1 is contained within well-defined carbonatite dikes, and a FMR (iron-manganese-rare-earth element) dike, which all intrude a body of heterolithic intrusive breccia of the Southwest Bull Hill target within the Bear Lodge alkaline-igneous complex. This geologic setting is similar to that hosting other REE intercepts on the Bear Lodge property. Two additional core drill holes, RES 07-2 and RES 07-3, were completed during the 2007 rare-earth drill program, and assay results for these drill holes are pending. Drill Program Results: Drill-hole RES 07-1 assay results from Rare Element's 2007 REE exploration drilling. (bearing N 60º E, inclination -65º, total depth 1057 feet, Southwest Bull Hill target) ------------------------------------------------------------------------- Interval Intercept True Mineralized Lithology Total % REO -------- --------- Thickness --------------------- ----------- (feet) (feet) --------- (feet) 277-307 30 18.3 FMR dike 4.19 --------------------------------------------------------------------- 460.5-520 59.5 48.7 carbonatite dike 5.51 --------------------------------------------------------------------- 555-580 25 13.4 carbonatite dike 5.92 --------------------------------------------------------------------- 727-790 63 31.5 carbonatite dike 3.67 --------------------------------------------------------------------- Aggregate intercept 111.9 Weighted average 4.69% REO ------------------------------------------------------------------------- RES 07-2 0-1000' REE assays pending (Southwest Bull Hill target) ------------------------------------------------------------------------- RES 07-3 0-1000' No significant REE mineralization; Gold assays pending (Northwest Bull Hill target) ------------------------------------------------------------------------- The near-surface REE-mineralized FMR dike is strongly oxidized and is interpreted to be an oxidized carbonatite dike. REE assay values are reported by convention as the combined rare-earth-oxide (REO) equivalents of the fifteen lanthanide-series elements. The oxide equivalents for the Bear Lodge distribution of elements are approximately 17% higher than the combined metal assay values. Rare Element's Bear Lodge, Wyoming property contains mainly the "light" REE (lanthanum, cerium, praseodymium, neodymium, samarium, europium, and gadolinium), and predominantly the first four of these REE's. The average relative distribution of the REE's, as determined from previous metallurgical test material is presented in a Company news release of November 9, 2005. Rare Element has selected samples from RES 07-1 for metallurgical testing and sent them to Mountain States R&D International (MSRDI) in Tucson, Arizona. The test program will begin following receipt of the assay results for drill-hole RES 07-2. The Bear Lodge property also has gold-exploration potential. The surface geology exposes the upper levels of a mineralized alkaline intrusive complex, which is geologically similar to the intrusive complex that hosts the Cripple Creek, Colorado, gold deposits. Rare Element and Newmont North America Exploration Limited, a subsidiary of Newmont Mining Corporation (Newmont), have entered into a gold exploration venture, named the Sundance Joint Venture, on the Company's Bear Lodge property. Newmont has the right to earn a 65% working interest in Rare Element Resources' Bear Lodge property, excluding any rights to the rare-earth elements and uranium but including rights to gold and other metals, by performing US$5 million in property work expenditures over a five-year period. Newmont also has the right to earn an additional 15% working interest by completing a positive project feasibility study. Annual General Meeting Rare Element held its Annual General Meeting in Vancouver B.C. on Monday, December 3, 2007. The current six members of the Board of Directors - Donald E. Ranta, Norman W. Burmeister, Norman Anderson, Stephen P. Quin, David C. Beling and Mark T. Brown - were all re-appointed to the Board and all other matters passed with strong support from the Rare Element shareholders. The Board then re-appointed Donald E. Ranta as President and Chief Executive Officer, and Mark T. Brown, as Chief Financial Officer. Updating of Corporate Material Rare Element has begun a program to update and improve all of its corporate material. This material will better explain the potential value of the rare earth assets. It will also create a better understanding of the historical gold results along with the current positive results being generated by Newmont. The Company believes that the updated corporate material will greatly improve the investing public's understanding of the Bear Lodge property's full potential. ON BEHALF OF THE BOARD Donald E. Ranta, PhD PGeo, President & CEO Donald E. Ranta, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr. Ranta and has been prepared in accordance with Canadian regulatory requirements that are set out in National Instrument 43-101. This news release was prepared by Company management, who take full responsibility for content. The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of this release. Contacts refer to the Company's website at www.rareelementresources.com or contact: Mark T Brown CFO (604) 687-3520 ext 242 mtbrown@pacificopportunity.com