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NYSE MKT: REE & TSX: RES

Bear Lodge Critical Rare Earth

Project

Technology Metals Summit – March 2013

A Year of Dramatic Change

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Disclaimer

The information contained herein, while obtained from sources which we believe are reliable, is not guaranteed as to its accuracy or completeness. The

company is an exploration company and its mineral project has yet to be proven to be economic. Some references to geologic and technical information

contained herein are historical or have been generated by external consultants who may or may not be QPs under NI 43-101 and are therefore not in

accordance with the requirements under NI 43-101 or have to be prepared in accordance with a preliminary or final feasibility study. The content of this

presentation is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities referred to herein.

Forward-looking statements: This presentation includes certain forward-looking statements about future events and/or financial results which are

forward-looking in nature and subject to risks and uncertainties. Forward-looking statements include without limitation, statements regarding the

company’s plan, goals or objectives and future mineral projects, potential mineralization, resources and reserves, exploration results and future plans

and objectives of Rare Element Resources. Forward-looking statements can generally be identified by the use of forward-looking terminology such as

“may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, or “continue” or the negative thereof or variations thereon or similar terminology.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those

anticipated in such statements. Important factors that could cause actual results to differ materially from expectations include risks associated with

permitting, mining generally, and pre-development stage projects in particular. Potential investors should conduct their own investigations as to the

suitability of investing in securities of Rare Element Resources.

Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated and Inferred Resources This presentation uses the term “Inferred”

Mineral Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the Securities and Exchange

Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their

economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under

Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. U.S. investors are also cautioned not to

assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

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CREO Comparative Value

123

Rare Element Resources Bull Hill & Whitetail, 3.0% cut-offRare Element Resources Whitetail Deposit

6Rare Element Resources Bull Hill & Whitetail, 1.5% cut-off

89

101112131415161718192021222324

$- $500 $1,000 $1,500 $2,000 $2,500

Critical Elements- Nd,Pr,Eu,Tb,Dy & Y

Project Number

Project Number

1) Rare Element Resources internal studies2) January 2013 prices

US$ per Metric Tonne

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CREO Comparative Value

123

Rare Element Resources Bull Hill & Whitetail, 3.0% cut-off56

Rare Element Resources Whitetail Deposit89

Rare Element Resources Bull Hill & Whitetail, 1.5% cut-off1112131415161718192021222324

$- $500 $1,000 $1,500 $2,000 $2,500 $3,000

Critical REO + By-products

Critical Elements- Nd,Pr,Eu,Tb,Dy & Y By-products

Project Number

1) Rare Element Resources internal studies2) January 2013 prices

US$ per MetricTonne

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Distribution of Bull Hill + Whitetail

Oxide Zone REEs

(1) Based on M&I Resources from News Release dated March 18, 2013(2) Based on January 1, 2013 prices of REEs

Rare-Earth Element

Wt-% Oxide Distribution(1) % Relative Value(2)

Lanthanum 27.3% 6.4%Cerium 43.4% 11.3%

Neodymium 17.9% 35.1%Praseodymium 5.0% 10.3%

Samarium 2.9% 1.5%

Europium 0.6% 24.2%

Gadolinium 1.4% 1.6%

Terbium 0.1% 3.5%

Dysprosium 0.3% 5.2%

Yttrium 1.0% 0.8%

Total 99.9% 99.9%

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M&I Resources 

2012 2013

Measured 77.0925459817846 69.1804449105356

Indicated 181.727215945765 358.981286142801

25

75

125

175

225

275

325

375

425

Estimated REO Resources(in millions of kilograms)

Mill

ion

kgs

65% Increase

259

428

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M&I Resources Estimate(Near surface oxide zone)

Deposit Cutoff(%TREO)

Tonnes(106)

Grade (%TREO)

Grade(%CREO)

%HREO

Bull Hill+ Whitetail

1.5 13.3 3.22 0.80 3.6

Whitetail 1.5 2.0 2.61 0.74 7.6

CREO defined as Nd, Pr, Eu, Dy, Tb, YBased on M&I Resources from News Release dated March 18, 2013

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Distribution of Whitetail Ridge

Oxide Zone REEs

Rare-Earth Element

Wt-% Oxide Distribution(1) % Relative Value(2)

Lanthanum 25.3% 4.5%Cerium 39.8% 7.9%

Neodymium 18.8% 27.9%Praseodymium 4.8% 7.6%

Samarium 3.7% 1.4%

Europium 0.8% 29.6%

Gadolinium 2.6% 2.3%

Terbium 0.3% 6.4%

Dysprosium 0.9% 10.8%

Yttrium 2.5% 1.7%

Total 99.5% 100.1%

(1) Based on Inferred Resource from News Release dated 7 May 2012(2) Based on January 1, 2013 prices of REEs

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Inferred Resource Estimate(Near surface oxide zone)

Deposit Cutoff(%TREO)

Tonnes (106)

Grade (%TREO)

Grade(%CREO)

%HREO

Bull Hill+ Whitetail

1.5 28.5 2.68 0.66 4.9

Whitetail 1.5 7.3 2.82 0.75 7.2CREO defined as Nd, Pr, Eu, Dy, Tb, YBased on M&I Resources from News Release dated March 18, 2013

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Growing Bear Lodge District

LeapFrog image showing the distribution of the +2% and +3% TREO grade shells in the greater Bull Hill area.

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Soil and Rock Chip Geochemistry

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Cutoff Grade ComparisonM&I Near Surface Oxide Zone

Cutoff Grade%TREO

Resource Grade% TREO

TonnesMillions

1.0 2.6 19.3

1.5 3.2 13.3

3.0 4.7 5.4

4.5 6.5 2.1

Based on M&I Resources from News Release dated March 18, 2013

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Hydrometallurgical Flowsheet

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Location and Infrastructure

• Good road system surrounding project

• Low-cost, reliable power available

• 64 km to nearest railhead; chemicals available

• Skilled labor and water available

• Favorable community acceptance; major coal mining center 97 km W

• Top ranked mining jurisdiction(1)

(1) Wyoming ranked as one of the top worldwide locations favorable for mining by the Fraser Institute and Behre Dolbear

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NYSE MKT: REE & TSX: RES