<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0609</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-03-10</periodOfReport>

    <issuer>
        <issuerCik>0001419806</issuerCik>
        <issuerName>RARE ELEMENT RESOURCES LTD</issuerName>
        <issuerTradingSymbol>REEMF</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001719869</rptOwnerCik>
            <rptOwnerName>Synchron</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>3550 GENERAL ATOMICS COURT</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92121</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001034584</rptOwnerCik>
            <rptOwnerName>GENERAL ATOMIC TECHNOLOGIES CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>3550 GENERAL ATOMICS COURT,</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO,</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92121-1122</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>See Remarks</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001715926</rptOwnerCik>
            <rptOwnerName>Tenaya Corp</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>3550 GENERAL ATOMICS COURT,</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO,</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92121-1122</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>true</isOther>
            <otherText>See Remarks</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2026-03-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>100149060</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>24035774.4</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>460889576</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The Common Shares are held of record by Synchron, a wholly-owned subsidiary of General Atomic Technologies Corporation (&quot;GATC&quot;), which is a wholly-owned subsidiary of Tenaya Corporation (&quot;Tenaya&quot;).</footnote>
    </footnotes>

    <remarks>GATC may be deemed to beneficially own all of the Common Shares beneficially owned by Synchron as its sole shareholder. Tenaya may be deemed to beneficially own all of the Common Shares beneficially owned by Synchron as the sole shareholder of GATC.</remarks>

    <ownerSignature>
        <signatureName>SYNCHRON /s/ Kristopher S. George Name: Kristopher S. George Title: Assistant Treasurer</signatureName>
        <signatureDate>2026-03-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>GENERAL ATOMIC TECHNOLOGIES CORPORATION /s/ Kristopher S. George Name: Kristopher S. George Title: Assistant Treasurer</signatureName>
        <signatureDate>2026-03-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>TENAYA CORPORATION /s/ Kristopher S. George Name: Kristopher S. George Title: Assistant Treasurer</signatureName>
        <signatureDate>2026-03-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
