Rare Element Resources Announces Appointment of Ken Mushinski as President and Chief Executive Officer

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce the appointment of Ken Mushinski as its President and Chief Executive Officer. Mr. Mushinski, a former member of the Board of Directors for the Company (“Board”), will commence his position and rejoin the Board starting on May 1, 2024. As previously announced, Mr. Brent Berg, current President and CEO, will be leaving the Company. His last day will be March 20, 2024. Ms. Kelli Kast, a current Board member and consultant with nearly twelve years of service to the Company, has been appointed as the Interim President and Chief Executive Officer effective as of March 20, 2024.

Mr. Mushinski served as a member of the RER Board from November 2017 through March 2022. This experience is complemented by an extensive background in corporate development and project execution, primarily in the uranium industry, both domestically and internationally. As the former Vice President, Corporate Planning and Acquisitions for General Atomics Technologies Corporation and President of uranium companies Quasar Resource and Cotter Corporation, all affiliates of General Atomics (“GA”), Mr. Mushinski has extensive production-related operational experience, from permitting to decommissioning, in the resource industry. Synchron, the majority shareholder of RER, is an affiliate of GA. Throughout his 30-plus-year career, Mr. Mushinski has been responsible for developing strategic partnerships and garnering investments from within the defense, energy and resources industries for projects under his direction. Mr. Mushinski holds a Bachelor of Science in Mechanical Engineering, summa cum laude, from San Diego State University.

“Ken’s previous time on the Company’s Board has given him a good understanding of the rare earth sector and an appreciation of the opportunities that the Bear Lodge Project and our innovative separation and recovery technology represent. That is what makes him the perfect person to lead the Company in its next phase of development,” stated Gerald Grandey, Chairman of the Board of Directors of the Company. “With his strong background in mineral development, he understands the steps that will be needed to get the Bear Lodge Project into production. The relationships he has built over the years with different governmental leaders will ensure the Company continues to align its efforts with the needs of the nation. We look forward to Ken using his demonstrated leadership skills in shepherding the Company towards its goal of becoming the cornerstone of a secure, domestic rare earth supply chain.”