Mr. Peter Shearing reports

CANADA RARE EARTH APPOINTS DR. "JOCK" HARMER TO ITS ADVISORY BOARD, ISSUES SHARES FOR DEBT

Canada Rare Earth Corp. has appointed Dr. Robin (Jock) Harmer, MSc, PhD, to the Canada Rare Earth advisory board.

Dr. Harmer holds an MSc in geology from the University of Natal and a PhD in geochemistry from the University of Cape Town, both in South Africa. He is a fellow of the SEG and life fellow of the GSSA, professor emeritus in the geology department at Rhodes University, and a registered professional scientist with SACNASP. He is the 2021 recipient of the GSSA's Des Pretorius medal, awarded for work in economic geology.

Dr. Harmer has been continuously involved in the rare earth market and sector since late 2008. He has worked in virtually all aspects of the industry, including exploration, rare earth mineralogy extraction strategies, advising on REE (rare earth element) market conditions and reviewing technologies to reduce the environmental impact, especially of extraction processes and technologies.

In 2009, Dr. Harmer co-founded and was chief executive officer of Rare Earth International, which was acquired by Southern Crown Resources (Australian Securities Exchange), where as managing director he was responsible for the rights acquisition, exploration and evaluation of the Nkombwa Hill and Xiluvo RE projects. Later, he held the position of the technical director of Galileo Resources, managed its option on the Glenover rare earth project and carried on as an ad hoc adviser on the deposit until its successful sale in 2021. In addition, Dr. Harmer worked on two rare earth deposits in Greenland for Nuna Minerals and the Wigu Hill deposit in Tanzania for Montero Minerals.

Peter Shearing, chief executive officer of Canada Rare Earth, stated: "The company is extremely pleased with Jock joining the Canada Rare Earth team. He has exceptional experience and knowledge in the rare earth sector, directly related to our strategic plans and objectives. I look forward to collaborating with Jock, and am confident that our projects and initiatives will benefit greatly from his advice and input."

The company also announces that, subject to approval from the TSX Venture Exchange, it will issue 1.68 million shares at a deemed price of three cents per share as payment of $50,400 of fees to Moneta Advisory Partners (Vancouver) Corp. for the provision of investment banking services in support of the company's acquisition, development and operational plans for its mining, processing and supply chain.

Erin Campbell, ICD.D, founder and investment banking partner at Moneta, commented: "At Moneta, we value the close relationship with Canada Rare Earth. We are very confident in their business plans and are glad to assist in and be a part of their future success as their investment banking partners."

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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