Press Releases

LAKEWOOD, COLORADO--(Marketwire - Feb. 9, 2012) - Rare Element Resources Ltd. (TSX: RES)(NYSE Amex: REE) (the "Company" or "Rare Element") announced that its unaudited consolidated financial statements and Form 10-Q for the second quarter ended December 31, 2011 have been filed on www.sedar.com and www.sec.gov.

All dollar amounts stated below are in United States dollars.

Second Quarter Ended December 31, 2011 Financial Highlights:

The net loss for the second quarter ended December 31, 2011 totaled $10.1 million or $0.23 per share as compared to a net loss of $2.6 million or $0.07 per share for the same period in 2010. The $7.5 million negative variance in net loss between the periods was due to the following:

--  Increased exploration spending at the Bear Lodge property ($3.8
    million);
--  Increased stock-based compensation expenses due to the amortization of
    past option grants to the recently hired executives ($2.4 million);
--  Write-down of the Nuiklavik mineral property located in Canada ($0.9
    million);
--  Increased general and administrative expenses due to more employees
    ($0.7 million);
--  Reduced foreign exchange gain due to the impacts on the Company's
    Canadian dollar cash balances related to exchange rate fluctuations in
    the US dollar on the balance sheet date ($0.5 million); and
--  Partially offset by positive variances in the mark-to-market gains on
    purchase warrants ($0.4 million) and increased interest income ($0.2
    million).

Cash and cash equivalents at December 31, 2011 were $59.5 million compared to $64.2 million as of September 30, 2011. The $4.7 million decrease in cash was primarily due to exploration and general & administrative spending.

Rare Element currently has 44.2 million common shares outstanding and 49.0 million common shares outstanding on a fully diluted basis.

The unaudited financial statements are available through the Canadian securities regulatory authorities at www.sedar.com, and with the Securities and Exchange Commission at www.sec.gov. They are also available on the Company's website at www.rareelementresources.com.

Update on the Bear Lodge Project Preliminary Feasibility Study:

On January 4, 2012 we announced the results of an updated National Instrument 43-101 (NI 43-101) compliant mineral resource estimate of rare-earth elements plus yttrium contained in three deposits located in the Bull Hill deposit. The updated resource estimate of the Bull Hill deposit consists of 6.8 million tons (6.2 mm metric tonnes) averaging 3.75% rare-earth oxide (REO) in measured and indicated (M & I) mineral resources categories, increased from 4.9 million tons (4.4 mm metric tonnes) averaging 3.77% REO last year, both using a 1.5% REO cutoff grade. The total pounds of REO contained in all the high-grade deposits in all resource categories increased by 26% from 1,450 million pounds (660 million kg) to 1,830 million pounds (830 million kg). The interim M & I mineral resource estimate for the Bull Hill deposit was provided for inclusion in our current Preliminary Feasibility Study (PFS). However, the interim mineral resources estimate includes less than half of the new assay results from holes drilled in 2011. We intend to update the mineral resource estimate again by the end of the fourth quarter of 2012, utilizing all of the 2011 drill holes.

We expect to complete the PFS during the first quarter of 2012. Immediately after completing the PFS we will start work on the Feasibility Study. During 2012 we plan to begin the formal National Environmental Policy Act Environmental Impact Study process followed by the 2013 start of the formal mine permitting process with Wyoming Department of Environmental Quality. Mine construction will commence immediately upon the successful completion of the feasibility studies, environmental impact studies and permitting.

Cautionary Note to U.S. Investors Concerning Estimates of Measured and Indicated Mineral Resources

This section uses the terms "measured mineral resources" and "indicated mineral resources." We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. US investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.

Our measured and indicated mineral resources reported in our Form 10-Q have been estimated in compliance with definitions set out in NI 43-101.

Rare Element Resources Ltd. (TSX: RES)(NYSE Amex: REE) is a publicly traded mineral resource company focused on exploration and development of rare-earth elements and gold on the Bear Lodge property located in northeastern Wyoming, USA.

Rare-earth elements are key components of the green energy technologies and other high-technology applications. Some of the major applications include hybrid automobiles, plug-in electric automobiles, advanced wind turbines, computer hard drives, compact fluorescent lights, metal alloys, additives in ceramics and glass, petroleum cracking catalysts, and a number of critical military applications. China currently produces more than 95 percent of the 130,000 metric tonnes of rare-earths consumed annually worldwide, and China has been reducing its exports of rare-earths each year. The rare-earth market is growing rapidly, and is projected to accelerate if green technologies continue to be implemented on a broad scale.

ON BEHALF OF THE BOARD

David P. Suleski, CFO

For information, refer to the Company's website at www.rareelementresources.com.

Forward-Looking Statements

Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including "will", "believes", "may", "expects", "should", "seeks", "anticipates", "has potential to", or "intends" or by discussions of strategy or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, statements regarding our expectations regarding future mineral resource estimates; our plans, objectives and expectations with respect to the Bear Lodge Project; general industry and macroeconomic growth rates and statements regarding future performance.

Forward-looking statements used in this discussion are subject to various risks and uncertainties, most of which are difficult to predict and generally beyond the control of the Company. Forward-looking statements in this document are not a prediction of future events or circumstances, and those future events or circumstances may not occur. If risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected. Important factors than can cause the Company's actual results to differ materially from those anticipated in the forward-looking statements include risks associated with commodity prices, exploration results, governmental and environmental regulations, permitting, licensing and approval processes for our operations and other factors described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended June 30, 2011, filed with the U.S. Securities and Exchange Commission ("SEC") as updated by our subsequent filings with the SEC. Given these uncertainties, users of the information included herein, including investors and prospective investors, are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by U.S. and Canadian securities laws.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Rare Element Resources Ltd.
        Anne Hite
        Director of Investor Relations
        (720) 278-2460
        ahite@rareelementresources.com

        Rare Element Resources Ltd.
        Dave Suleski
        (720) 278-2460
        dsuleski@rareelementresources.com
        www.rareelementresources.com

Source: Rare Element Resources Ltd.

BATON ROUGE, La., Feb. 9, 2012 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announced today that its wholly owned subsidiary, Lamar Media Corp., has closed its private placement of $500 million in aggregate principal amount of its 5 7/8% Senior Subordinated Notes due 2022. The proceeds of this offering to Lamar Media, after the payment of fees and expenses, were approximately $489 million.

The notes have not been and will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, securities.

CONTACT: Lamar Media Corp.
         Keith Istre
         Chief Financial Officer
         (225) 926-1000
         KI@lamar.com

WINSTON-SALEM, N.C.--(BUSINESS WIRE)-- Valentine’s Day just got a bit sweeter for female fitness enthusiasts with the introduction of the Champion Sweetheart Compression Sports Bra. This new sports bra represents a significant departure from the design of traditional compression sports bras by narrowing the straps and lowering the neckline to be more attractive – all without compromising exceptional support and fit.

“Compression sports bras represent more than half of the total sports bra market and are a favorite choice for all types of fitness activities from yoga to high impact aerobics,” said Janet Mistor, senior marketing manager for Champion Athleticwear Women’s. “Our designers retained all of the support and comfort features that Champion is known for while also creating a beautiful and feminine neckline.”

Rated for High Support, the Champion Sweetheart Compression Sports Bra features a sweetheart neckline accented with piping detail and tapered straps. Fans of Champion will recognize the brand’s signature keyhole back and exceptional moisture management along with a back mesh panel for added ventilation.

Champion has been recognized as the founder and leader in the sports bra market for more than 30 years. The brand currently offers 19 different styles of sports bras designed for all types of fitness activities and levels of support.

“We understand the fundamental importance of having a supportive and comfortable sports bra,” said Mistor. “There is absolutely no piece of fitness equipment that is more important to women, and we want to make sure that Champion Athleticwear is always at the forefront of meeting her needs whether that means added performance or a new element of feminine detailing.”

The Champion Sweetheart sports bra is available in a variety of colors in sizes S-XL. The suggested retail price is $32. Champion sports bras are sold nationwide at sporting goods retailers, department stores and online at www.championusa.com.

To learn more about the Champion sports bra offerings, visit the Champion website at www.championusa.com or follow the Champion sports bra blog by going to www.facebook.com/champion.

About Champion®Athleticwear

Since 1919 Champion Athleticwear has offered a full line of innovative athletic apparel for men and women including sports bras, activewear, team uniforms, sweats and accessories. Champion Athleticwear can be purchased at most sporting goods and department stores. For more information please contact us at 1-800-999-2249, visit www.championusa.com or at www.facebook.com/champion or follow us on Twitter @Championusa. Champion is a brand of HanesBrands. (NYSE: HBI)

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50164201&lang=en

Champion Product PRBernadette Wallace, 336-519-6250Bernadette.Wallace@hanesbrands.com

Source: HanesBrands

SEATTLE, Feb. 9, 2012 (GLOBE NEWSWIRE) -- Lighter Capital announced today that it has been named a finalist for the Technology Accelerator Award as part of the Washington Technology Association (WTIA)’s 17th annual Industry Achievement Awards (IAA). The awards recognize Washington state companies, organizations and individuals who best demonstrate technology and service innovation and excellence. For more information and to register for the event, visit: www.washingtontechnology.org/IAA.

"We’re fortunate to live and work in a state with such a diverse and vibrant technology community, said Susan Sigl, president and CEO of the WTIA. "These finalists represent the most creative and innovative companies and individuals in our industry and deserve the highest congratulations."

Lighter Capital provides revenue-based financing to small businesses to fund growth in return for a small percentage of future years’ revenues.  Lighter Capital and revenue-based financing is intended for early-stage businesses that have established success and are primed for growth, but are cash-constrained and need access to capital with no dilution, no loss of control, and no fixed repayment schedule.

As a pioneer in providing revenue-based loans to startups, Lighter Capital is responsible for bringing the funding application and negotiation process online - enabling applicants to have complete visibility into every aspect of the evaluation process.  Additionally, Lighter Capital provides its portfolio companies with access to a unique set of support resources, such as executive counsel and marketing assistance.

"Being recognized by the WTIA is an honor and a tribute to the efforts of the Lighter Capital team," said Andy Sack, CEO of Lighter Capital.  "It’s also a testament to the success of the small businesses we’ve funded not only here in the Pacific Northwest - but around the country.  At the end of the day, their success is our success, so we’re happy to share this honor with them."

About the Washington Technology Industry Association

The Washington Technology Industry Association, founded in 1984, is one of the largest statewide associations of technology companies, IT departments and individual technology professionals in North America. With more than 1,000 members representing more than 125,000 employees in Washington state, the association is a catalyst for sharing expertise, fostering collaboration, delivering key business services and advancing the value and global impact of technology companies doing business in Washington. The association’s global partners are Microsoft, Regence BlueShield, Vertafore and Wells Fargo Insurance Services. The association’s funding partners are F5 Networks, HTC, Microsoft, Moss Adams LLP, RealNetworks, Regence BlueShield, Vertafore and Wells Fargo Insurance Services. For more information, go to www.washingtontechnology.org.

About Lighter Capital

At Lighter Capital, we’re breaking down the barriers to small business growth funding.  Our revenue-based finance model exchanges growth capital for a fixed percentage of the company’s revenues.  This structure is more flexible, easier, and faster than traditional lenders, making us "lighter" than the marble and mahogany of the antiquated banks.  Since late 2010, Lighter Capital has funded a range of businesses - from goat-milk ice cream to Software-as-a-Service - all excellent businesses that have been overlooked by traditional banks and venture capitalists.  Lighter Capital is a venture-backed, non-bank investor of its own funds, not a broker or intermediary.  For more information, or to apply, visit: http://www.lightercapital.com/

CONTACT: Jeff Pecor
         Tailwind PR
         802.497.1932
         jeff@tailwindpr.com