Rare Element Announces Appointment of Patrick M. James as Chairman of the Board
Rare Element Resources Ltd. (NYSE MKT: REE)(TSX: RES) (the “Company”), a mineral resources company advancing development of the Bear Lodge Critical Rare Earth Project (the “Project”), announced that all eight director-nominees were elected by the shareholders of the Company at the 2014 Annual General Meeting held on June 12, 2014. Additionally, Mr. Patrick M. James was appointed by the Company’s Board to serve as Chairman, replacing Dr. Donald Ranta who, as previously announced, retired from the Board effective June 12, 2014. Mr. James brings significant operating and executive experience to the Company through his 45 years in the mining industry, including most recently as President, CEO and a director of Rio Algom Ltd and as the current Chairman of the Board of General Moly Inc.
“We want to wish Don the best in his retirement and thank him for his many contributions over the years to the success of the Company and to the progress that we have made on the Bear Lodge Project,” said Randall J. Scott, President and Chief Executive Officer. “In appointing Pat James to the role of Chairman, the Board has acknowledged Pat’s unique experiences and skill set that will benefit the Company as we continue to move the Project toward development and operations. With over 45 years in the mining industry and executive roles in operating companies like Newmont, Santa Fe Pacific and Rio Algom, Pat is an excellent choice to assume the role of Chairman, as we continue on our path to become North America’s next rare earth producer.”
The Company also announced that the eight director nominees listed in the Company's management information circular dated April 29, 2014 were re-elected at the Annual General Meeting of shareholders of the Company held earlier today. Shareholders also approved the non-binding advisory vote on executive compensation and ratified the re-appointment of EKS&H, LLLP, Certified Public Accountants, as the auditors of the Company. Shareholders representing 56.49% of the 47,707,216 shares outstanding were represented in person or by proxy at the meeting. Please see the tables below for voting details.
| Votes in Favor | Votes Withheld | ||||||||||||
| Board Member | Number of votes | % | Number of Votes | % | |||||||||
| M. Norman Anderson | 5,131,245 | 75.06 | 1,705,193 | 24.94 | |||||||||
| Norman W. Burmeister | 4,830,139 | 70.65 | 2,006,299 | 29.35 | |||||||||
| Gerald W. Grandey | 5,265,083 | 77.02 | 1,571,355 | 22.98 | |||||||||
| Patrick M. James | 5,251,671 | 76.82 | 1,584,767 | 23.18 | |||||||||
| F. Steven Mooney | 5,262,909 | 76.98 | 1,573,529 | 23.02 | |||||||||
| Paul J. Schlauch | 5,117,202 | 74.85 | 1,719,236 | 25.15 | |||||||||
| Randall J. Scott | 5,287,304 | 77.34 | 1,549,134 | 22.66 | |||||||||
| Lowell A. Shonk | 5,165,437 | 75.56 | 1,671,001 | 24.44 | |||||||||
| Votes in Favor | Votes Against | Votes Withheld | ||||||||||||||||
| Number | % | Number | % | Number | % | |||||||||||||
| Approval on an Advisory Basis, | 4,071,900 | 59.56 | 2,566,734 | 37.54 | 197,804 | 2.89 | ||||||||||||
| Votes in Favor | Votes Withheld | ||||||||||
| Number of | % | Number of | % | ||||||||
| Ratification of EKS&H, LLLP, Certified | 25,688,106 | 95.33 | 1,259,589 | 4.67 | |||||||
The Board of Directors for Rare Element Resources would like to thank its shareholders for their continued support.
Rare Element Resources Ltd. is a publicly traded mineral resource company focused on exploration and development of rare-earth element deposits, specifically those with significant distribution of critical rare earths. The Company is advancing development of the Bear Lodge Project, located in northeast Wyoming. Bear Lodge is a significant mineralized district containing many of the less common, more valuable critical rare earths that are essential for electronics, fiber optics, laser systems for health and defense, as well as many evolving green technologies, like hybrid cars, solar panels and wind turbines. Permitting and feasibility work on the Project is currently underway.
For additional information, please visit the Company’s website at www.rareelementresources.com or contact Robbin Lee at 720-278-2462 or rlee@rareelementresources.com.
Contact
Rare Element Resources Ltd.
Robbin Lee, 720-278-2462
rlee@rareelementresources.com