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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report: July 2, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>RARE ELEMENT RESOURCES LTD. </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>British Columbia, Canada </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; border-bottom: windowtext 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">001-34852</TD>
    <TD STYLE="width: 47%; border-bottom: windowtext 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Not Applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Commission File Number) </TD>
    <TD STYLE="font-size: 10pt; text-align: center">(IRS Employer Identification No.) </TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
<FONT STYLE="text-transform: uppercase"><B>225 Union BLVD., SUITE 250, LAKEWOOD, COLORADO 80228</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices
and Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Registrant&rsquo;s telephone number, including area code: <B>(720)
278-2460</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 5%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 95%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 95%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 95%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 95%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02. &nbsp;&nbsp;Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 2, 2012, Kelli C. Kast was appointed
as the Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ms. Kast previously worked for Coeur d&rsquo;Alene
Mines Corporation (&ldquo;Coeur&rdquo;) as Senior Vice President, General Counsel and Corporate Secretary from March 2009 through
March 2012. Ms.&nbsp;Kast has also served as Coeur&rsquo;s Vice President, General Counsel and Corporate Secretary from May 2005
to March 2009 and additionally as its Chief Administrative Officer from March 2009 to December 2011. Prior to her tenure at Coeur.
Ms.&nbsp;Kast was Corporate Counsel for HealtheTech Inc. from April 2004 to April 2005 and the Assistant General Counsel and Corporate
Secretary for Global Water Technologies Inc. and Psychrometric Systems, Inc. from December 1997 through February 2003. Ms.&nbsp;Kast
earned her Juris Doctor from the University of South Dakota School Of Law and her Bachelor's degree from the University of Idaho.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 2 2012, the Registrant
entered into an employment agreement contract (&ldquo;Employment Agreement&rdquo;) with Ms. Kelli C. Kast pursuant to her
appointment as Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary of the
Registrant.&nbsp;&nbsp;Pursuant to the terms of the Employment Agreement, Ms. Kast&rsquo;s initial salary is to be set at a
rate of US$200,000 per year. Ms. Kast will be eligible to participate in all employee benefit programs of the Registrant. Ms.
Kast will also be granted stock options on a total of 150,000 shares of the Registrant&rsquo;s common stock of which 75,000
stock options will be granted upon appointment and 75,000 will be granted on or before October 15, 2012. The options will
vest as follows: 20% after four months from grant; 20% after eight months; 20% after 12 months; 20% after 15 months; and the
remaining 20% after 18 months from grant. The options granted at appointment will be exercisable at an exercise price of
US$5.02 with an expiry date of July 2, 2017.&nbsp;&nbsp;If the Registrant terminates the services of Ms. Kast without cause,
Ms. Kast will be entitled to six months of compensation at her normal annual rate if employed with the Registrant less than
12 months or one year of compensation at her normal annual rate if employed with the Registrant more than 12 months. In the
case of a &ldquo;change in control&rdquo; of the Registrant (as defined in the Employment Agreement) resulting in Ms.
Kast&rsquo;s loss of employment or a reduction in Ms. Kast&rsquo;s base salary greater than 10% or a material demotion in Ms.
Kast&rsquo;s title and position with the Registrant, the Registrant will provide Ms. Kast two years of compensation at her
normal annual rate.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing description of the Employment
Agreement is qualified in its entirety by reference to the Employment Agreement, a copy of which is filed as Exhibit 10.1 to this
Current Report on Form 8-K and which is hereby incorporated by reference into this Item 5.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7.01&nbsp;&nbsp;Regulation FD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 2, 2012, the Registrant issued
a press release announcing the appointment of Ms. Kelli C. Kast as Vice President, General Counsel, Chief Administrative Officer
and Corporate Secretary of the Corporation.&nbsp;&nbsp; A copy of the press release is attached to this report as Exhibit&nbsp;99.1.
In accordance with General Instruction B.2 of Form&nbsp;8-K, the information set forth herein and in the press release is deemed
to be &ldquo;furnished&rdquo; and shall not be deemed to be &ldquo;filed&rdquo; for purposes of the Securities Exchange Act of
1934, as amended. The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality
of any information in this report on Form&nbsp;8-K that is required to be disclosed solely to satisfy the requirements of Regulation
FD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01&nbsp;&nbsp;Exhibits</B>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 11%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 89%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">10.1&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">99.1</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Employment Agreement Contract between Ms. Kelli C.
        Kast, ESQ and the Registrant dated July 2, 2012</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Press Release dated July 2, 2012*</P></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*The Exhibit relating to Item 7.01 is intended
to be furnished to, not filed with, the SEC pursuant to Regulation FD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the requirements of
the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0"><B>RARE ELEMENT RESOURCES LTD.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">(Registrant)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt; font-size: 10pt">Dated:&nbsp;July 3, 2012</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">By:&nbsp;&nbsp; <U>/s/ David P. Suleski&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">David P. Suleski</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Chief Financial Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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{"company-data": {"conformed-name": "RARE ELEMENT RESOURCES LTD", "cik": "0001419806", "assigned-sic": "1040", "irs-number": "000000000", "state-of-incorporation": "A1"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34852", "film-number": "12941651"}, "business-address": {"street1": "325 Howe Street Suite 410", "city": "Vancouver", "state": "A1", "zip": "V6C 1Z7", "phone": "(604) 687-3520"}, "mail-address": {"street1": "325 Howe Street Suite 410", "city": "Vancouver", "state": "A1", "zip": "V6C 1Z7"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: July 2, 2012
(Date of earliest event reported)
RARE ELEMENT RESOURCES LTD.
(Exact Name of Registrant as Specified in
Charter)
British Columbia, Canada
(State or Other Jurisdiction of Incorporation)
001-34852
Not Applicable
(Commission File Number)
(IRS Employer Identification No.)
225 Union BLVD., SUITE 250, LAKEWOOD, COLORADO 80228
(Address of Principal Executive Offices
and Zip Code)
Registrant's telephone number, including area code:
(720)
278-2460
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02.   Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers
On July 2, 2012, Kelli C. Kast was appointed
as the Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary of the Registrant.
Ms. Kast previously worked for Coeur d'Alene
Mines Corporation ("Coeur") as Senior Vice President, General Counsel and Corporate Secretary from March 2009 through
March 2012. Ms. Kast has also served as Coeur's Vice President, General Counsel and Corporate Secretary from May 2005
to March 2009 and additionally as its Chief Administrative Officer from March 2009 to December 2011. Prior to her tenure at Coeur.
Ms. Kast was Corporate Counsel for HealtheTech Inc. from April 2004 to April 2005 and the Assistant General Counsel and Corporate
Secretary for Global Water Technologies Inc. and Psychrometric Systems, Inc. from December 1997 through February 2003. Ms. Kast
earned her Juris Doctor from the University of South Dakota School Of Law and her Bachelor's degree from the University of Idaho.
On July 2 2012, the Registrant
entered into an employment agreement contract ("Employment Agreement") with Ms. Kelli C. Kast pursuant to her
appointment as Vice President, General Counsel, Chief Administrative Officer and Corporate Secretary of the
Registrant.  Pursuant to the terms of the Employment Agreement, Ms. Kast's initial salary is to be set at a
rate of US$200,000 per year. Ms. Kast will be eligible to participate in all employee benefit programs of the Registrant. Ms.
Kast will also be granted stock options on a total of 150,000 shares of the Registrant's common stock of which 75,000
stock options will be granted upon appointment and 75,000 will be granted on or before October 15, 2012. The options will
vest as follows: 20% after four months from grant; 20% after eight months; 20% after 12 months; 20% after 15 months; and the
remaining 20% after 18 months from grant. The options granted at appointment will be exercisable at an exercise price of
US$5.02 with an expiry date of July 2, 2017.  If the Registrant terminates the services of Ms. Kast without cause,
Ms. Kast will be entitled to six months of compensation at her normal annual rate if employed with the Registrant less than
12 months or one year of compensation at her normal annual rate if employed with the Registrant more than 12 months. In the
case of a "change in control" of the Registrant (as defined in the Employment Agreement) resulting in Ms.
Kast's loss of employment or a reduction in Ms. Kast's base salary greater than 10% or a material demotion in Ms.
Kast's title and position with the Registrant, the Registrant will provide Ms. Kast two years of compensation at her
normal annual rate.
The foregoing description of the Employment
Agreement is qualified in its entirety by reference to the Employment Agreement, a copy of which is filed as Exhibit 10.1 to this
Current Report on Form 8-K and which is hereby incorporated by reference into this Item 5.02.
Item 7.01  Regulation FD
On July 2, 2012, the Registrant issued
a press release announcing the appointment of Ms. Kelli C. Kast as Vice President, General Counsel, Chief Administrative Officer
and Corporate Secretary of the Corporation.   A copy of the press release is attached to this report as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information set forth herein and in the press release is deemed
to be "furnished" and shall not be deemed to be "filed" for purposes of the Securities Exchange Act of
1934, as amended. The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality
of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation
FD.
Item 9.01  Exhibits
10.1
99.1
Employment Agreement Contract between Ms. Kelli C.
        Kast, ESQ and the Registrant dated July 2, 2012
Press Release dated July 2, 2012*
*The Exhibit relating to Item 7.01 is intended
to be furnished to, not filed with, the SEC pursuant to Regulation FD.
SIGNATURES
In accordance with the requirements of
the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
RARE ELEMENT RESOURCES LTD.
(Registrant)
Dated: July 3, 2012
By:
/s/ David P. Suleski
David P. Suleski
Chief Financial Officer