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rare-earth elements - Hard Assets Rare Earths Investment Summit

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Bear Lodge<br />

<strong>Rare</strong>-<strong>Earths</strong> Overview<br />

NYSE AMEX: REE<br />

TSX: RES<br />

• Contains “one of the largest deposits of disseminated (low-grade)<br />

<strong>rare</strong> <strong>earth</strong>s in North America” plus high-grade zones (US Geological<br />

Survey (2) ); USBM historic resource estimate<br />

• Indicated mineral resource - 4.9 mm tons @ 3.77% REO (1) of oxide,<br />

Inferred mineral resources of 17.8 mm tons @ 3.03% REO (1)<br />

including oxide zone of 11.6 mm tons @ 3.22% REO (NI 43-101)<br />

• Exploring for additional oxidized REE mineralization in the Bull Hill area<br />

carbonatites within 500 feet of surface<br />

• Low-cost simple metallurgical process for near-surface oxide<br />

mineralization; Pilot Plant in progress;<br />

• Preliminary Feasibility Study in progress<br />

(1) NI-43-101 compliant using 1.5% REO cut-off-grade; prepared by Ore Reserves<br />

Engineering, June 2011<br />

(2) US Geological Survey (Staatz, Professional Paper 1049-D, 1983)<br />

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