Mr. Peter Shearing reports

CANADA RARE EARTH PROVIDES CORPORATE UPDATE

The British Columbia Securities Commission (BCSC) has issued a cease trade order (CTO) against Canada Rare Earth Corp. dated March 6, 2026, as a result of the company's failure to file its interim financial statements, management's discussion and analysis, and related chief executive officer and chief financial officer certifications, for the period ended Dec. 31, 2025, by the prescribed filing deadline of March 2, 2026.

Trading in the company's common shares on the TSX Venture Exchange has been halted since January, 2025, in connection with a previously proposed transaction. The CTO imposes additional restrictions on all trading in the company's securities until the required filings have been completed and the CTO has been revoked by the BCSC.

The company was unable to complete the required filings within the prescribed timeline due to a lack of available financial resources following the non-completion of the previously proposed transaction and the resulting inability to raise capital while the company's shares remain halted from trading.

The company is working diligently with its advisers to complete the required filings as soon as possible. Once the required filings have been filed and the CTO has been revoked by the BCSC, the company intends to work with the exchange toward a resumption of trading in its common shares. There can be no assurance as to the timing of the filing of the required filings, the revocation of the CTO or the resumption of trading.

The company will provide further updates as developments warrant.

About Canada Rare Earth Corp.

Canada Rare Earth operates a global essential minerals business in rare earth minerals and products. The company's strategy focuses on leveraging near-term positive cash flow opportunities to support growth, including acquiring and developing proprietary projects, resources, and processing capabilities.

We seek Safe Harbor.