Abstract. This paper attempts to summarize and systematize findings of geological, geophysical, geochronological and geochemical studies over the past three decades on Late Paleoproterozoic granitoids, basites and sedimentary-volcanic rocks of the Ulkan trough in the southeastern flanking of the Siberian Platform, which make it possible to identify their sources and to reconstruct conditions and geodynamic settings of their formation. Rocks of the Ulkan volcano-plutonic complex are found to form in an anorogenic environment under intra-continental extension in relation to the mantle plume activity at 1.77 -1.70 Ga. Based on geodynamic criteria, five stages recognised in the evolution of the Ulkan paleorift system can be grouped into three major stages of the Late Paleoproterozoic intra-plate magmatism. The study of data made it apparent that the Ulkan paleorift system has characteristics of a three-armed structure indicative of the intense rifting in response to the hot spot activity; the Ulkan alkaline-granitic batholith with its distinct metallogenic specialization for rare-earth elements (REE) and rare earth metals (REM) could be such a hotspottype diapir. Tectonically, the triple junction appears as a zone that underwent intense intra-plate alkaline-granitic magmatism in the Late Paleoproterozoic and hosts ore targets unique in scale and diversity (Be, Ta, Nb, TR, Zr, U, Au, Li, Sn, Mo, P, and Ti) with ages in the 1.72 -1.67 Ga range. Rare-metal and REE deposits are essentially the product of rare-metal alkaline granitic magmatism and most likely related to the evolution of the mantle source in the course of plume activity. The presence of both subalkaline granitoids and volcanic rocks (K-series) and alkaline granites, comendites and pantellerites (Na-series) intensely fractionated and enriched to a maximum degree in most noncoherent elements, as well as Zr, Mn, F, Fe, Ti, is characteristic of the Ulkan anorogenic magmatism. Granitoids of the Ulkan paleorift structure and its southern flanking foldbelts have mixed mantle-crustal sources. Subalkaline granites are derived from a source containing material from lower continental crust and alkaline granites from a mantle source containing the OIB-type component. The origin of the Ulkan-Bilyakchan volcano-plutonic belt initiated as an intracontinental system along the southeastern edge of the Siberian Platform is considered to be related to hot spots of this type.