VANCOUVER, Feb. 5 /CNW/ - The TSX Venture Exchange today announced that Rare Element Resources Ltd. ("TSXV - "RES") has been named as one of the TSX Venture 50, a ranking of strong performers listed on TSX Venture Exchange. TSX Venture 50 is comprised of 10 emerging companies in five industry sectors that have been identified as leaders in Canada's public venture market.
"It is an honour to be named as part of this year's TSX Venture 50," said Don Ranta, President and Director. "Our listing on the TSX Venture Exchange has provided us with the ideal environment to meet our growth goals and objectives to advance our gold and rare earth projects in Wyoming."
The 2010 TSX Venture 50 were selected based on four equally weighted criteria that include return on investment, trading, analyst coverage and market capitalization growth in Cleantech, Diversified Industries, Mining, Oil & Gas and Technology and Life Sciences sectors.
"We are pleased to celebrate the 2010 TSX Venture 50," said John McCoach, President, TSX Venture Exchange. "These outstanding companies are proven leaders in their respective sectors and we are proud to have them listed on TSX Venture Exchange. We wish them all continued success."
Rare Element Resources Ltd (TSX-V: 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.
The information contained herein is for information purposes only and is not an invitation to purchase securities listed on TSX Venture Exchange and/or Toronto Stock Exchange. TMX Group Inc. and its affiliates do not endorse or recommend any securities referenced. Neither TMX Group Inc. nor its affiliated companies represents, warrants or guarantees the accuracy or the completeness of the information. You should not rely on the information contained herein for any trading, business or financial purposes. TMX Group Inc. and its affiliates assume no liability for any errors or inaccuracies herein or any use or reliance upon this information.
SOURCE RARE ELEMENT RESOURCES LTD.
For further information: For further information: please refer to the Company's website at www.rareelementresources.com or contact: Donald E Ranta, President & CEO, (604) 687-3520, email@example.com; Mark T. Brown, CFO, (604) 687-3520 ext 242, firstname.lastname@example.org