Rare Element Resources-Newmont Gold Venture Completes 2007 Drilling

    TSX-V: RES

    VANCOUVER, Sept. 25 /CNW/ - Rare Element Resources Ltd (TSX-V: RES)
announces that the Sundance gold-exploration project, which is a joint venture
between Paso Rico (USA) Inc, a subsidiary of Rare Element Resources, and
Newmont North America Exploration Limited, a subsidiary of Newmont Mining
Corporation (Newmont), has completed the 2007 drill program on Rare Elements's
Wyoming property.
    Newmont's initial estimate of the program for 2007 was three or four
drill holes. Newmont increased the drill-hole count to eight holes, which are
now complete. Rare Element expects to receive the assay results by the end of
the year.
    Newmont manages the gold exploration for the Sundance project.
Exploration work for 2007 was designed to build on the successful 2006
trenching and drilling program and included, in addition to drilling, detailed
environmental, geological, geochemical and geophysical studies. The
gold-exploration joint-venture agreement calls for Newmont expenditures to
total US $500,000 by 31 May 2007 (which Newmont has spent) and US $1.2 million
prior to June 2008.

    Rare Element Resources Ltd (TSX-V:RES) is a publicly traded
mineral-resource company focused on gold and strategic metals such as the
rare-earth elements. Rare Element 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
    Rare Element Resources' Bear Lodge, Wyoming property also encompasses the
largest disseminated rare-earth occurrence in North America (M H Staatz, US
Geological Survey Professional Paper 1049D). In parallel with the Sundance
gold-focused exploration project, Rare Element Resources plans to
independently advance the rare-earth potential of its property with a 2007
drilling and metallurgical testing program (see news release of 15 February


    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 reviewed by Dr Bird 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.

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

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