Amendments to Code of Ethics Form 8 K

On December 11, 2024, Rare Element Resources Ltd. (the "Company") adopted a revised Code of Business Conduct and Ethics (the "Code"). The changes to the Code include, among other things: (1) clarifying that the Company's employees and directors must comply with the Code, including when working from any home office location; (2) requiring that all waivers of or changes to the Code be publicly disclosed in compliance with any applicable rules of the OTCQB Venture Marketplace; (3) emphasizing strict adherence to the Company's safety and health policies and procedures, including the obligation to report any known or suspected unsafe working conditions; and (4) noting that the Company's employees should not engage in other activities that conflict with their time and attention required to perform their Company-assigned duties and responsibilities. A copy of the updated Code is available on the Company's website at www.rareelementresources.com.

The foregoing summary is qualified in its entirety by the full text of the Code, which is filed as Exhibit 14.1 to this Current Report on Form 8-K and incorporated herein by reference.

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