X0306 4 2020-04-02 0 0001419806 RARE ELEMENT RESOURCES LTD REEMF 0001537008 Scott Randall John P.O. BOX 271049 LITTLETON CO 80127 1 1 0 0 President and CEO Common Shares 2020-04-02 4 S 0 10000 0.56 D 44186 D Common Shares 2020-04-03 4 S 0 10000 0.55 D 34186 D Common Shares 2020-04-06 4 S 0 10000 0.50 D 24186 D The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.56 to $0.57, inclusive. The Reporting Person undertakes to provide to Rare Element Resources Ltd. ("Rare Element"), any security holder of Rare Element, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth in this Footnote 1 to this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.54 to $0.55, inclusive. The Reporting Person undertakes to provide to Rare Element, any security holder of Rare Element, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this Footnote 2 to this Form 4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.50 to $0.52, inclusive. The Reporting Person undertakes to provide to Rare Element, any security holder of Rare Element, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this Footnote 3 to this Form 4. /s/ Randall J. Scott 2020-04-06