Rare Element Resources sets timelines, flags operational risks

This news release contains forward-looking statements and information within the meaning of securities legislation in the United States and Canada (collectively, “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,” “plans,” “has potential to,” or “intends” (including negative and grammatical variations thereof), or by discussions of strategy or intentions. Such forward-looking statements include statements regarding (i) the timing of the

operations stages of the Demonstration Plant and our ability to successfully navigate through the steps of operations commencement, (ii) expectations that the Demonstration Plant will generate the operational and economic data necessary for the design of a commercial-scale plant; (iii) the Company’s ability to meet the demand for a secure and diversified domestic source of critical rare earths for U.S. defense and high-tech applications; (iv) expectations that the Demonstration Plant will operate for up to 12 months, (v) the Company’s ability to progress the NEPA

process and continue as a Covered Project in the FAST-41 program, and (vi) whether the resolution of filtration inefficiencies now will de-risk our future commercial trajectory. Factors that could cause actual results to differ materially from those contemplated, expressed or implied by the forward-looking statements contained in this news release include, but are not limited to, the ability to operate the Demonstration Plant for a sufficient amount of time to ascertain commercialization decisions, the ability to maintain Demonstration Plant licensing and permits, the possible full

impacts of inflation and supply chain issues, such as delays or further cost increases, tariffs or trade restrictions, and other matters discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and our other periodic and current reports filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on www.sec.gov and with the Canadian securities commissions available on www.sedarplus.ca. There can be no assurance that future developments affecting the Company will be

those anticipated by management. Please refer to the discussion of these and other uncertainties and risk factors set out in our filings made from time to time with the SEC and the Canadian regulators, including, without limitation, our annual reports on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. While we may elect to

update our forward-looking statements at any time, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Rare Element Resources, Demonstration Plant, rare earths, FAST-41, NEPA, filtration inefficiencies, forward-looking statements, SEC, SEDAR+