Mr. Peter Shearing reports

CANADA RARE EARTH WELCOMES DONALD ANDERSON AS CHIEF INVESTMENT OFFICER (CIO)

Canada Rare Earth Corp. has appointed Donald Anderson as chief investment officer, effective Jan. 1, 2024.

Canada Rare Earth is excited to welcome Mr. Anderson as CIO, where he will play a pivotal role in driving the company's growth and making strategic investment decisions within the rare earth and essential minerals industries. His appointment reinforces confidence in the company's prospects and underscores its commitment to achieving strategic objectives.

Chief executive officer of Canada Rare Earth Peter Shearing expressed his enthusiasm, stating: "Don's extensive experience in both financial markets and entrepreneurship, particularly in Africa, aligns perfectly with our strategic goals. We believe his insights and leadership will contribute significantly to our success in the rare earth and essential minerals sectors. He is a highly valuable addition to Canada Rare Earth and I expect him to take a central role in driving the company's rapid growth."

Mr. Anderson's nearly three decades of successful experience in financial markets, investment management and entrepreneurship will be a valuable asset to the organization as it transitions to owning, managing and operating its proprietary sources of rare earths and other essential minerals. Currently a partner at Moneta Capital Advisory, Mr. Anderson has also spent more than a decade in successful entrepreneurial ventures, including mining, mineral procurement, aircraft leasing and intelligence/security, much of it in Africa. His tenure at Phillips, Hager & North, a prestigious Canadian investment management firm, highlights his proficiency in managing investment portfolios and making informed financial decisions. Mr. Anderson studied economics at the University of Western Ontario, has completed course work in investment decisions and behavioural finance at Harvard Kennedy School and earned the chartered financial analyst designation in 1999. Mr. Anderson's alignment with Canada Rare Earth's expansion goals is evident.

Mr. Anderson commented: "After nearly a year advising and working closely with the company, I'm thrilled to join Canada Rare Earth. I believe my direct experience with sourcing and developing projects in Africa, on top of more than 20 years in global capital markets, can make a meaningful and near-term impact on the company as it transitions to owning and managing its proprietary sources of rare earths and other essential minerals."

The company believes Mr. Anderson's contribution to the Canada Rare Earth's leadership team will be invaluable. His appointment underscores the company's commitment to prudent and informed investment decisions to enhance portfolio performance and shareholder value.

About Canada Rare Earth Corp.

Canada Rare Earth operates a rapidly growing global essential minerals business built from over a decade of success in rare earth minerals and products.

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