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Rare Element Options Eden Lake Rare-Earth Property to Medallion

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  Published in Business and Finance on Tuesday, December 1st 2009 at 6:20 GMT by Market Wire
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<< Rare Element Resources Ltd TSX-V: RES Medallion Resources Ltd. TSX.V: MDL >> 

 Rare Element Resources Ltd TSX-V: RES Medallion Resources Ltd. TSX.V: MDL 

 ------------------------------------------------------------------------- Five-Year Option to earn 65% interest in joint venture to explore Cash Medallion's Property Work Eden Lake property payment common shares commitment ------------------------------------------------------------------------- Initial payment $25,000 ------------------------------------------------------------------------- At the signing of the definitive agreement $25,000 ------------------------------------------------------------------------- Upon TSX Venture Exchange's approval $50,000 200,000 ------------------------------------------------------------------------- End of first year $50,000 200,000 $250,000 ------------------------------------------------------------------------- End of second year $100,000 200,000 $500,000 ------------------------------------------------------------------------- End of third year $200,000 200,000 $500,000 ------------------------------------------------------------------------- End of fourth year $500,000 500,000 $500,000 ------------------------------------------------------------------------- End of fifth year $500,000 500,000 $500,000 ------------------------------------------------------------------------- TOTAL $1,450,000 1,800,000 $2,250,000 ------------------------------------------------------------------------- 

 ON BEHALF OF THE RARE ELEMENT ON BEHALF OF THE MEDALLION RESOURCES BOARD OF DIRECTORS RESOURCES BOARD OF DIRECTORS "Donald E. Ranta", PhD, PGeo, "William H Bird", PhD, PGeo, President & CEO President & CEO