File: Attachment CRECNRAPR15.pdf

HEAD OFFICE Suite 2110 - 650 West Georgia St.

Vancouver, BC V6B 4N8 Tel +1 604 638 8886

www.canadarareearth.com

TSX.V: LL

Canada Rare Earth Adopts New Stock Option Plan

Vancouver, BC, April 15, 2024 - Canada Rare Earth Corp. ("Canada Rare Earth" or the "Company") (TSX.V: LL) announces that at its Annual Meeting held January 12, 2024, shareholders of the Company approved the adoption of a new 10% rolling stock option plan (the "New Plan"). The New Plan is in line with other TSX Venture Exchange Issuers' option plans. Details of the Annual Meeting and of the New Plan can be found under the Company's profile on SEDAR+.

The Company also announces that it has granted 2,850,000 stock options to various Officers, Directors, and Consultants. These stock options are exercisable at $0.05 per share for a period of five (5) years.

About Canada Rare Earth Corp.

Canada Rare Earth Corp. operates a rapidly growing global essential minerals business built from over a decade of success in rare earth minerals and products. Our strategy leverages near-term positive cash flow opportunities supporting our business growth, including acquiring and developing proprietary projects, resources and processing capabilities and facilities. For more information on our strategy, please see our updated corporate overview at www.canadarareearth.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION, PLEASE CONTACT: Janet Meiklejohn Chief Financial Officer Peter Shearing jmeikjlejohn@canadarareearth.com Chief Executive Officer pshearing@canadarareearth.com

Telephone: (604) 638-8886 Website: www.canadarareearth.com