Mr. Mike Schrider reports

UCORE UPDATES ON RAPIDSX(TM) REE DEMO PLANT AND LOUISIANA SMC ENGINEERING PROCESSES

Ucore Rare Metals Inc. has provided a technical update on its RapidSX demonstration plant for the separation of heavy and light rare earth elements (REEs). The Demo Plant is located within Ucore's 5,000 square foot RapidSX(TM) Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario, and is operated by its commercialization partner, Kingston Process Metallurgy Inc. ("KPM").

The Ucore team's work at the CDF over the past three-plus years has demonstrated a range of significant gains and process benefits of RapidSX(TM) for separating and purifying REEs. Ucore has qualified these RapidSX(TM) benefits through an independent 3rd party evaluation, filing a robust intellectual property ("IP") patent to protect the Company's clear process advantages, and embarking on a Demo Plant commercialization, scale-up and technology transfer program for its developing 7,500 tonnes per annum (ex-cerium and ex-yttrium) REE separation plant - the Louisiana Strategic Metals Complex ("LA-SMC") in Alexandria, Louisiana.

To ensure best in class processing metrics at its LA-SMC the Company is working to precisely quantify these RapidSX(TM) benefits through a rigorously engineered demonstration program for the US Department of Defense. Ucore is preparing for the commercial processing of a broad array of both heavy and light mixed rare earth chemical concentrates originating from a wide variety of mineralization sources. To date, three different feedstock sources[i] have been included in the work at the CDF. Noted below are the detailed engineering, commissioning, testing and/or demonstration focus/optimization areas currently underway for each CDF and LA-SMC feedstock[ii]:Cerium Depletion Yttrium Depletion Leaching to Produce Pregnant Leach Solution ("PLS")Processing through a Conventional Solvent Extraction ("CSX") Mixer Settler Pilot Plant of a Similar[iii] 52-Stage System to Establish Baseline SX PerformanceProcessing through the 52-Stage RapidSX(TM) Demo Plant (heavies and/or lights - yielding PrNd, Pr, Nd, Tb, Dy and Y)

To ensure optimum design and engineering of the LA-SMC, work at the RapidSX(TM) Commercial Demonstration Plant, includes the following specific testing, engineering and integration activities:Chloride Precipitate ProductionComponent Degradation Testing Component Non-Destructive & Destructive Testing Dynamic Analytical Integration with Control System - on-site TXRF & ICP-MSHydrochloric Acid Recovery & RecyclingOxalate Precipitate Production- small batchOxide Production - small batchProgrammable Logic Controller ("PLC") System - feedstock-specific programming for chemistry delivery and feedback from over 600 system sensorsRadioactive Monitoring and Tracing - potential trace amounts in every product and waste streamScale-Up Demonstration - for LA-SMC commercial plantTechno-Economic Engineering - including digital twin modelingVentilation & Fume Scrubbing SystemWaste Water Treatment SystemFigure 1 - 52-Stage CSX Pilot PlantTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/183030_fcea616ab457cb5a_001full.jpgFigure 2 - 52-Stage RapidSX(TM) Demo PlantTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/183030_fcea616ab457cb5a_003full.jpg

"Over the first two years in Kingston, we proved the technical superiority of our now patent-pending RapidSX(TM) technology platform to mix and separate the chemistry of solvent extraction," stated Mike Schrider, Ucore Vice President and Chief Operating Officer. "We have since taken those optimization and fine-tuning efforts and engaged in a robust engineering, construction, commissioning, testing and demonstration effort to truly optimize the chemistry delivery and feedback systems to and from the RapidSX(TM) platform within the Demo Plant and across all of the related systems within the CDF.

"This arduous yet thorough process will soon enable us to discreetly quantify the previous qualitative attributes of the RapidSX(TM) technology platform and the resulting rare earth element products as we incorporate every facet of our engineering and production learning curve from our project execution in Kingston into our underway LA-SMC commercial and technical activities."# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the U.S. State of Louisiana, subsequent Strategic Metal Complexes in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX(TM) Best Market under the ticker symbol "UURAF."

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