Rare Element Resources Ltd. · OTC:REEMF
Rare Element Resources — Corporate Update (August 2026)
23 slides from Rare Element Resources's corporate update, Aug 3, 2026
Slide 1: Bear Lodge Rare Earth Project Overview
Bear Lodge Rare Earth Project Project Overview Crook County Commissioners Sundance, Wyoming Meeting | August 3, 2026 1
Slide 2: Disclaimer
DISCLAIMER This presentation This presentation contains forward-looking statements and forward-looking information (collectively, the “forward-looking statements”) within the meaning of securities legislation in the United States and Canada. Except for statements of historical fact, certain informat
Slide 3: Why We Are Here
WHY WE ARE HERE RER is committed to a thorough, transparent permitting process—federal NEPA, State of Wyoming licensing, and local requirements. These processes invite stakeholder input as design, impacts, alternatives, and mitigation are evaluated. We know stakeholders have questions and encourage
Slide 4: Why Rare Earths Matter — Sundance vs. China
WHY RARE EARTHS MATTER — SUNDANCE VS. CHINA Defense Precision munitions, radars, jet engines, satellites, and advanced systems rely on rare earth permanent magnets. Advanced Energy High-performance motors for vehicles and direct-drive generators in modern power systems. High Tech Smartphones, hard d
Slide 5: Rare Earth Element (REE) Supply Chain
RARE EARTH ELEMENT (REE) SUPPLY CHAIN • RER’s Bear Lodge Project targets the upstream half of the domestic rare earth market, from mine to separated rare earth oxides (NdPr Oxide). 5
Slide 6: Bear Lodge Project Snapshot: Facts at a Glance
BEAR LODGE PROJECT SNAPSHOT: FACTS AT A GLANCE 132 acre 287 acres ~22 2030 total est. new NFS Years (construction Target start after all pit on NFS land disturbance through reclamation) permits and licensing What the project is: What the project is not: • Open-pit rare earth mine at Bull Hill, ~12 •
Slide 7: Mineral Deposit & Company
MINERAL DEPOSIT & COMPANY • The Bear Lodge deposit is a USGS recognized world-class mineral deposit that has some of the highest total rare earth oxide (TREO) concentration in the world. • Measured resource concentration is 4.53% TREO or 45,300 ppm…more than 11X more concentrated than other comparab
Slide 8: Bear Lodge Project: Bull Hill Plan Summary
BEAR LODGE PROJECT: BULL HILL PLAN SUMMARY Main Project Features: • Open-pit mine • Dewatering into a pond • Haul road and mine access road • Ancillary facilities - guardhouse, substation, topsoil stockpile, fencing • Transmission line • Barren rock facility • PUG mill, truck shop, and office • Sedi
Slide 9: Bear Lodge Project: Bull Hill Site Layout
BEAR LODGE PROJECT: BULL HILL SITE LAYOUT 9
Slide 10: Transparency: Permitting Dashboard Online
TRANSPARENCY: PERMITTING DASHBOARD ONLINE https://www.permits.performance.gov/permitting -project/fast-41-covered-projects/bear-lodge- rare-earth-project 10
Slide 11: Key Federal Authorizations
KEY FEDERAL AUTHORIZATIONS Agency Authorization / Action Purpose / Notes NEPA Environmental Impact Full environmental review of the U.S. Forest Service (USFS) Statement (EIS) + Record of proposed action on National — Lead Agency Decision Forest System lands Approval of final Mine Plan of Includes re
Slide 12: Key State Authorizations
KEY STATE AUTHORIZATIONS Agency / Program Authorization / License Purpose / Notes WDEQ – Land Quality Mining and reclamation on both Permit to Mine Division (LQD) NFS and private land portions Dust, PM10/PM2.5, and other WDEQ – Air Quality Air Quality Permit (construction & emissions; includes monit
Slide 13: Other Important Approvals
OTHER IMPORTANT APPROVALS • Mine Safety and Health Administration (MSHA) – Mine safety plan and ongoing compliance • Crook County / road authorities – Road use, maintenance, and any county road-related agreements or permits • Powder River Energy Corporation (PRECorp) + USFS – Power line design, ease
Slide 14: Preliminary Economic Snapshot
PRELIMINARY ECONOMIC SNAPSHOT $175–$250M 150–225 80–110 $5–$10M Development Avg Construction Direct Operating Mineral Tax Range / Capital Jobs Jobs yr Mine, upgrading, 225–325 at peak $7–$9M annual payroll 4,000-tpa case roads, power, water (2-year build) 17-yr mine life $3.0–$5.9M / yr $3.5–$10M $5
Slide 15: Why Miller Creek Access Road Is in the Draft MPO
WHY MILLER CREEK ACCES RD IS IN THE DRAFT MPO — AND WHY THIS IS NOT FINAL The Draft MPO lists Miller Creek Access because that is the route the U.S. Forest Service selected and carried into the 2016 Draft EIS after reviewing the 2011 and 2012 third-party road engineering studies. That process never
Slide 16: Air Quality, Dust & Naturally Occurring Materials (NORM)
AIR QUALITY, DUST & NATURALLY OCCURRING MATERIALS (NORM) Background Monitoring Dust & Material Controls: Underway For Many Years: • Regular road watering and speed limits (30 mph on access roads) • One meteorological station and four high- volume air-sampling stations installed at • Covered ore and
Slide 17: Water Quality, Usage, Treatment & the Pit Lake
WATER QUALITY, USAGE, TREATMENT & THE PIT LAKE Long-term monitoring Discharge & treatment Any discharge is subject to a WYPDES Baseline hydrology work began in 2010. permit with strict water-quality limits. Current program includes continuous Dewatering water may be evaporated, surface-water station
Slide 18: Reclamation, Closure & Long-Term Responsibility
RECLAMATION, CLOSURE & LONG-TERM RESPONSIBILITY A detailed Reclamation Plan, cost estimate, and adequate financial assurance (bonding) must be approved by the State of WY before the final Mine Plan of Operations is authorized. 1 Progressive work 2 What remains 3 Timeline & oversight Reclamation occu
Slide 19: The Review Process — Transparency & Your Voice
THE REVIEW PROCESS — TRANSPARENCY & YOUR VOICE FAST-41 does not lower standards or eliminate review. It does not include any short cuts to NEPA requirements. It organizes agency coordination, creates a public permitting timetable, and improves transparency. It does not eliminate NEPA requirements, e
Slide 20: The Draft MPO Is a Starting Point, Not the Final Decision
THE DRAFT MPO IS A STARTING POINT NOT THE FINAL DECISION The Draft Mine Plan of Operations submitted July 29 is a living, evolving starting point for the NEPA process — not a final decision. NEPA is just starting The process started with the MPO submittal on July 29. It still must go through: Draft
Slide 21: Process Just Commenced: Stakeholders Have a Voice
PROCESS JUST COMMENCED STAKEHOLDERS HAVE A VOICE Cooperating Agencies You Are Not Late • Crook County and the Conservation • The NEPA process formally began District are cooperating agencies in with the MPO submittal on July 29, the NEPA process. last week. This is the beginning, not the end. • That
Slide 22: Key Takeaways
KEY TAKEAWAYS Defined, limited footprint — 287-acre impact to public lands with reclamation and mitigation measures required. Mechanical (crushing & screening of rock) upgrading only at the mine; chemical processing / separation is off-site near Upton. The final access route has not been decided, al
Slide 23: Questions
QUESTIONS We are here to listen and provide factual answers. Rare Element Resources, Inc. Kelli Kast, Senior Vice President, General Counsel, & Chief Admin Officer Paul Bonifas, Director of Business Development Cameo Flood, NEPA Coordinator WSP, Engineering Firm 23
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