The growing demand for rare earth elements (REEs) in high-tech and green energy sectors has prompted renewed exploration of unconventional sources. Drill cuttings, which are commonly discarded during subsurface drilling, are increasingly recognized as a potentially valuable, underutilized secondary REE reservoir. This review adopts a mineral-first lens to assess REE occurrence, extractability, and recovery strategies from drill cuttings across various lithologies. Emphasis is placed on how REEs associate with specific mineral host phases ranging from ion-adsorbed clays and organically bound forms to structurally integrated phosphates, each dictating distinct leaching pathways. The impact of drilling fluids on REE surface chemistry and mineral integrity is critically examined, alongside an evaluation of analytical and extraction methods tailored to different host phases. A scenario-based qualitative techno-economic assessment and a novel decision-tree framework are introduced to align mineralogy with optimal recovery strategies. Limitations in prior studies, particularly in characterization workflows and mineralogical misalignment in leaching protocols, are highlighted. This review redefines drill cuttings from industrial waste to a strategic resource, advocating for mineralogically guided extraction approaches to enhance sustainability in the critical mineral supply chain.