Mr. Jim McKenzie reports

UCORE RARE METALS INC. ANNOUNCES CLOSING OF OFFERING

Ucore Rare Metals Inc. has completed the equity offering previously announced on March 15, 2013, in the full amount for gross proceeds of $5-million. The offering consisted of 20 million units priced at 25 cents per unit. Each unit sold consisted of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 35 cents for a period of 36 months.

The offering was conducted on an agency basis by Byron Capital Markets Ltd. as Canadian agent and Knight Capital Americas LLC as United States agent. Byron has been granted an option, exercisable at any time until 30 days following the closing of the offering, to sell additional units or warrants up to 15 per cent of the number of units sold pursuant to the offering at the issue price of the units to cover overallotments, if any, and for market stabilization purposes.

In consideration for their services in connection with the offering, the agents, selling group members and finders received aggregate cash commissions of $269,398.50 and an aggregate total of 1,077,594 non-transferable broker warrants, with each broker warrant entitling the holder thereof to acquire one common share at an exercise price of 25 cents for a period of 36 months following the completion of the offering.

The company plans to use the net proceeds of the offering to progress the development of the Bokan Mountain/Dotson Ridge property and for general working capital purposes.

We seek Safe Harbor.