TSX-V: RES Ref: 3-2008

VANCOUVER, March 10 /CNW/ - Rare Element Resources Ltd. (TSX.V: RES) (the "Company") has agreed to appoint Mr. Gregory E. McKelvey as a Director of the Company effective February 19, 2008.

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Mr. McKelvey, MS. Geol., has more than forty years of international experience in Latin America, Africa, and Europe in expanding responsibilities for major mining companies such as Kennecott, Cominco, Homestake, and Phelps Dodge. He was Vice President-South America for Phelps Dodge Exploration, and is currently the President and CEO of Animas Resources. He also acts as an Adjunct Faculty member at the University of Arizona in their International Center for Mining Health, Safety and Environment and worked for the USGS in Latin America. He has also consulted for many companies.

Mr. McKelvey has successfully directed and led innovative exploration efforts, resulting in the discovery and identification of several major ore deposits. He participated in or led the teams that discovered Sossego (Cu/Au) in Brazil; Sheep Creek (Zn, Cu, Co) in Montana; Spar Lake-Cabinet Mts. (Cu, Ag) in Montana; Sechura, (P(2)O(5)) in Peru; extensions of the Punta de Cobre (Cu/Au) deposits in Chile; extensions of ore at Chino (Cu) in New Mexico; the Codelco IOCG discovery in Brazil, and the recent new porphyry copper center at Sierra Gorda in Chile.

Well known in the minerals exploration industry, Mr. McKelvey has participated in formulating and implemented strategic and tactical exploration plans for four different international mining/exploration companies. He developed a resource-based metal market mine closure prediction system to assist in longer-term mine development planning. He completed several mineral business entry strategy plans for adding diversification to emeriging third world countries.

Mr. McKelvey is optimistic about the significant gold and rare-earth potential of the Company's Bear Lodge property in northeastern Wyoming and states that "the Bear Lodge property has a tremendous opportunity for discovery of a major gold system as well as substantial rare-earth occurrences. With Newmont leading the gold exploration, the Company has one of the world's best exploration teams advancing the Sundance project, which has great potential for both near-surface gold deposits as well as deeper high-grade deposits. Rare Element Resources has the potential of defining a large rare-earth resource with its current program of drilling, metallurgical testing, and resource estimation."

The Board of Directors of Rare Element Resources would like to thank Mr. David Beling for being a member of the Board during the past two years. Mr. Beling was on the Board during a period of growth of the Company to its present position. Mr. Beling has resigned from the Company's Board of Directors; however, he will remain a friend and a member of the Advisory Board.

Rare Element Resources Ltd (TSX-V:RES - News) is a publicly traded mineral resource company focused on gold and strategic metals such as the rare-earth elements (REE's). The author of US Geological Survey Professional Paper 1049D stated that what is now Rare Element Resources' Bear Lodge REE property is the largest disseminated REE occurrence in North America. REE's, which have been called "catalysts for high-tech living," are required for many new technologies, including nickel-metal-hydride batteries and the motors, generators and batteries used in hybrid cars. The US market for REE's exceeds US$1 billion, with most supplied by China.

The Rare Element Resources' Bear Lodge property also has gold-exploration potential. Previous gold exploration has identified numerous gold geochemical anomalies and gold occurrences in intrusive breccia bodies. The surface geology exposes the upper levels of a mineralized alkaline intrusive complex, which is geologically similar to the igneous intrusive complex that hosts the Cripple Creek, Colorado, gold deposits.

Paso Rico (USA) Inc, a wholly owned subsidiary of Rare Element Resources, and Newmont North America Exploration Limited, a subsidiary of Newmont Mining Corporation (Newmont), have entered into a gold exploration venture, named the Sundance Joint Venture, on the Company's Bear Lodge property. Newmont has the right to earn a 65% working interest in Rare Element Resources' Bear Lodge property, excluding any rights to the rare-earth elements and uranium but including rights to gold and other metals, by performing US$5 million in property work expenditures over a five-year period. Newmont also has the right to earn an additional 15% working interest by completing a positive project feasibility study.

	    ON BEHALF OF THE BOARD  	    Donald E. Ranta, PhD, PGeo  

Donald E. Ranta, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Dr Ranta This news release was prepared by Company management, who take full responsibility for content. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual future-period results to differ materially from forecasts.

For further information

check the Company's website at www.rareelementresources.com or contact: Donald E Ranta, President & CEO, don@rareelementresources.com
Mark T Brown, CFO, (604) 687-3520, mtbrown@pacificopportunity.com