Mr. Peter Shearing reports

CANADA RARE EARTH APPOINTS PETER SHEARING AS CHIEF EXECUTIVE OFFICER

Canada Rare Earth Corp. has appointed Peter Shearing as chief executive officer (CEO), reflecting the acceleration of the company's business. Mr. Shearing previously held the position of chief operating officer (COO).

As COO, Mr. Shearing was directly responsible for accomplishing significant company milestones with the company's core assets. He has focused heavily on managing and accelerating the Bom Futuro tailings asset development as a crucial part of the foundation of a large-scale essential minerals business in western Brazil. Concurrent with the Bom Futuro development, Mr. Shearing has been and continues to develop complementary opportunities in the region for essential mineral resource properties. Beyond Brazil, he has expanded and grown the company's mineral concentrate supply base in other countries with a large focus on Africa, providing significant growth in Canada Rare Earth's trading business. Mr. Shearing has accomplished these foundational milestones for Canada Rare Earth while delivering on the company's speed to revenues goal, resulting in a tenfold revenue increase in the past fiscal year.

After serving as CEO, president and director for over a decade while maintaining the principal contact role with the company's customer base, Tracy A. Moore has resigned as CEO and president of the company. Mr. Moore will continue working closely with Mr. Shearing as director of corporate development and will remain a member of the board. Immediate collaborations will include participating in negotiations and closing on acquisitions of complementary essential mineral businesses and properties. The company wishes to thank Mr. Moore for his significant contributions to the company as CEO and president and looks forward to working with him in his new role.

Mr. Shearing, CEO of Canada Rare Earth, stated: "Tracy has been the lead of Canada Rare Earth for over a decade. He has guided the company successfully through both calm and rough waters. I, and the company, greatly appreciate his dedication to the business and thank him for the foundation he has built upon which we are building our future success. I look forward to continuing working with Tracy to accelerate the company's business development together."

About Canada Rare Earth Corp.

Canada Rare Earth is developing an international integrated business focusing on essential and critical minerals, including rare earths. Its strategy is to generate revenues and positive cash flow as it acquires and develops its own properties and establishes value-add processing capabilities.

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