Rare Element Resources Ltd - Drilling Underway at Rare Element Resources-Newmont Gold Joint Venture

    TSX-V: RES

    VANCOUVER, June 18 /CNW/ - Rare Element Resources Ltd (TSX-V: RES)
announces that the Sundance gold-exploration project 2007 drill program is
underway at the Company's Wyoming property. The Sundance project is a joint
venture between Paso Rico (USA) Inc., a wholly owned subsidiary of Rare
Element Resources and Newmont North America Exploration Limited a subsidiary
of Newmont Mining Corporation (Newmont). The 2007 drill program consists of a
series of core and reverse-circulation drill holes with supporting detailed
geological, geochemical and geophysical studies. It also includes an
environmental assessment to permit a potentially larger drill program for
    Sundance employs the alkaline-intrusive complex gold-exploration model,
as exemplified by the Cripple Creek, Colorado gold district (over 23 million
ounces of gold produced since discovery in the late 1800's).

    Rare Element Resources Ltd (TSX-V:RES) is a publicly traded
mineral-resource company focused on gold and the rare-earth elements. 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.


    William H Bird, PhD, PGeo, President & CEO

    William H. Bird, PhD, PGeo, serves the Board of Directors of the Company
as an internal, technically Qualified Person. Technical information in this
news release has been prepared in accordance with Canadian regulatory
requirements set out in National Instrument 43-101 and reviewed by Dr Bird.
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.

For further information:

For further information: refer to the Company's website at
www.rareelementresources.com or contact: William H Bird, President & CEO,
(604) 687-3520 ext 229, birdwill@aol.com; Mark T Brown, CFO, (604) 687-3520
ext 242, mtbrown@pacificopportunity.com

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890