Rare Element Resources Ltd (TSX-V: RES) and Medallion Resources Ltd (TSX-V: MDL) reported that they have signed a letter of intent whereby Rare Element will grant to Medallion an option to earn a 65% interest in a joint venture to explore the Eden Lake rare-earth-element property, Manitoba, Canada.
The press release is quoted as saying:
Rare Element Resources Ltd (TSX-V: RES) is a publicly traded mineral resource company focused on rare-earth elements and gold. In addition to the REE exploration and evaluation efforts, the Company and Newmont have entered into the Sundance gold exploration joint venture on the Company’s Wyoming property.
