Rare Element Resources Ltd. (TSX VENTURE:RES) (the "Company") is pleased to
announce the identification of an additional rare-earth-element (REE) target
area approximately 1500 feet northwest of the Bull Hill Southwest deposit at the
Bear Lodge project, Wyoming. The Company designates this area as the Whitetail
Ridge rare-earths exploration target, and it is being prepared for possible
drilling later this fall, weather permitting. The new target is located adjacent
to and west of the Bull Hill Northwest target. It was recognized from a
combination of: 1) detailed geological mapping of FMR (FeOx-MnOx-REE) vein
material by our gold exploration partner, Newmont North American Exploration
Ltd.; 2) a positive ground geophysical anomaly of a type coincident with
significant REE mineralization in other parts of the project area; and 3) a
review of nearby historic drill holes that intersected strong REE mineralization
in FMR dikes and veins. The size of the geophysical anomaly (approximately 1400
by 2000 feet elongate northeasterly) provides an indication that this REE target
may be larger than others in the district. Historic drill hole WP-1, drilled by
Hecla Mining Company in 1987, intersected 430 feet of strong REE mineralization
in a near-surface intercept from 0 to 430 feet that averages 2.44% REO. Within
the larger intercept were several 10-foot intercepts with grades ranging from
5.5 to 13.7% REO.


The Whitetail Ridge FMR mineralized zone may be the continuation of the Bull
Hill Southwest deposit dike system, which trends northwesterly and is truncated,
and possibly offset, by the West Bull Hill fault. Alternatively, it may be a
separate rare-earth system with emplacement controlled by an east-northeast
structural trend that is similar to one dominant in nearby Carbon Hill and along
a graben-bounding fault that corresponds to the Whitelaw Creek drainage. This
ENE structural trend may have had an influence on the emplacement of high-grade
REE mineralization in FMR and carbonatite dikes and veins in Hecla drill-hole
WP-2 in the Bull Hill Northwest target. More detailed field examination of the
area is warranted, with the objective of determining significant structural
trends that may guide drilling in the 2009 and 2010 drilling programs. Using an
Exploranium spectrometer, ground geophysical surveys were undertaken over the
Bull Hill Southwest FMR/carbonatite dike swarm for comparison with the Whitetail
Ridge area. Both areas produced pronounced positive anomalies. The results of
the Whitetail Ridge survey show an anomaly that trends about N40E, as well as
two, more diffuse northwesterly trending positive anomalies. These data are
consistent with the possibility that REE-mineralized carbonatite dikes were
emplaced along a northeasterly trend that may be somewhat oblique to the ENE
structural trend mapped in the general area and in trenches south of Carbon
Hill.


To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/res1003F1.jpg


Historic drilling in the greater Whitetail Ridge area includes Duval Corporation
drill holes WBR-4 and WBD-12, MolyCorp drill holes BL-1 and BL-3, and Hecla
Mining Company drill hole WP-1. Drill holes WBD-12, BL-1, and BL-3 were all
collared near the margins of the main Whitetail Ridge target area, whereas drill
holes WP-1 and WBR-4 were collared in the central part of the area. Assay data
are incomplete for some of these holes, but available REE assay and drill log
data show that the area contains significant REE mineralization (Table 1).




----------------------------------------------------------------------------
Table 1. Historic data from drill holes in the Whitetail Ridge area         
----------------------------------------------------------------------------
Company  Drill Hole  Data related to potential REE mineralization           
----------------------------------------------------------------------------
Duval    WBR-4       0-200' @ 1.29% REO; highest intercept 5' @ 7.82%       
                      REO                                                    
----------------------------------------------------------------------------
Duval    WBD-12      600-620', 20' @ 4.61% REO; 1380-1420', 40' @ 4.82% REO 
----------------------------------------------------------------------------
MolyCorp BL-1        70-121', 51'@ 5.76% REO                                
----------------------------------------------------------------------------
MolyCorp BL-3        340-370', 30' @ 6.41% REO                              
----------------------------------------------------------------------------
Hecla    WP-1        Entire hole (0-726') averages 1.86% REO; 0-430' @ 2.44%
                      REO, includes 290-320' @ 5.28% REO and 401-411' @     
                      13.70% REO                                            
----------------------------------------------------------------------------



The limited data suggest that the Whitetail Ridge area carries significant
potential for FMR and carbonatite REE mineralization. However, results from the
previous drilling indicate that the structural situation may be complex, and
that more field work will be completed quickly in order to select drill sites
this fall and to orient the drill holes properly for definition of the
mineralized zone.


Rare Element Resources Ltd. (TSX VENTURE:RES) is a publicly traded
mineral-resource company focused on rare-earth elements and gold. In addition to
the REE exploration and evaluation efforts, the Company and Newmont have entered
into the Sundance gold exploration joint venture on the Company's Wyoming
property. Newmont has the right to earn a 65% working interest in Rare Element
Resources' 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. Gold exploration drilling began in July for the 2009 program,
and rare earth drilling began in August.


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.
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