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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1419806	Rare Element Resources Ltd	REE	Gold And Silver Ores (1040)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1521640	Ellis Gregory Mckelvey	225 Union Blvd. Suite 250 Lakewood CO 80228		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Shares	Acquisiton	2012-04-18	20,000	$2.72	212,600	No	4	M	Direct
Common Shares	Disposition	2012-04-19	24,000	$5.39	188,600	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Shares	Employee Share Option (Right to Buy)	Disposition	2012-04-18	20,000	$0.00	20,000	$2.72

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2010-05-28	2015-05-28	No	4	M	Direct

Footnotes

The original exercise price of the grant was CDN$2.71. The exercise price has been converted using the exchange rate on the date of the transaction, which was 1.00425.
This transaction was executed in multiple trades at prices ranging from $5.31 to 5.47. The price reported above is the weighted average sale price of such trades. The reporting person hereby undertakes to provide to the SEC staff, the issuer or a security holder of the issuer upon request, full information regarding the number of shares and the prices at which each transaction was effected.
Options vested as follows: 20% of the options vested 4 months from 5/28/2010 ("Grant Date"); 20% of the options vested 8 months from the Grant Date; 20% of the options vested 12 months from the Grant Date; 20% of the options vested 15 months from the Grant Date; and 20% of the options vested 18 months from the Grant Date.