Rare Element Resources Receives DOE Operations Approval and Additional Funding Commitment for Rare Earth Demonstration Plant in Wyoming

LITTLETON, Colo. -- Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that the U.S. Department of Energy’s (the “DOE”) Office of Energy Efficiency and Renewable Energy has issued the second and final Project Continuation Notice following its approval of the operations budget and confirmation of readiness for the operations phase of the Company’s rare earth processing and separation demonstration plant (the “Demonstration Plant”). This notice allows operations to formally commence once the Company receives the U.S. Nuclear Regulatory Commission (the “NRC”) operations approval under the previously issued license, which is anticipated in the coming weeks. These milestones will allow for the commencement of operations in the fourth quarter of 2024. The Demonstration Plant, which has been designed to advance the Company’s proprietary processing and separation technology, is expected to generate the operational and economic data necessary for the design of a commercial-scale plant. Read More