Mr. Peter Manuel reports

UCORE ANNOUNCES CLOSING OF BOUGHT DEAL PUBLIC OFFERING FOR GROSS PROCEEDS OF C$69 MILLION

Ucore Rare Metals Inc. has closed its previously announced bought deal public offering for aggregate gross proceeds of $69,004,600, which includes the exercise in full of the overallotment option for gross proceeds of $9,000,600. Pursuant to the offering, Ucore sold a total of 24,644,500 common shares of the company at a price of $2.80 per common share, which includes 3,214,500 common shares sold pursuant to the exercise of the overallotment option. Red Cloud Securities Inc. acted as sole bookrunner and co-lead underwriter, and B. Riley Securities Inc. acted as co-lead underwriter.

The company intends to use the net proceeds from the offering to finance the development of the company's Louisiana strategic metals complex (SMC), and for working capital and general corporate purposes, as further described in the prospectus supplement (as defined below).

The common shares were offered for sale in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan pursuant to a prospectus supplement dated Aug. 10, 2026, which supplements the company's (final) short form base shelf prospectus dated June 30, 2026. Portions of the offering were also sold in jurisdictions outside of Canada on a private placement or equivalent basis. The prospectus was filed in each of the provinces and territories of Canada. Investors should read the prospectus and other documents that the company has filed for more complete information about the company and the offering. Copies of these documents are available under Ucore's profile on SEDAR+. The offering remains subject to the final approval of the TSX Venture Exchange.

As consideration for their services in connection with the offering, the underwriters received an aggregate cash fee of $4,125,276.04, which is equal to a cash fee of 6.0 per cent of the gross proceeds of the offering (other than in respect of the gross proceeds from the sale of common shares to purchasers under a president's list, which such gross proceeds were subject to a cash fee of 3.0 per cent of such gross proceeds).

About Ucore Rare Metals Inc.

Ucore is focused on rare-earth 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, Ucore aims to support the development of a more diversified and resilient North American rare-earth elements (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 SMCs in Canada and Alaska, and the longer-term development of Ucore's 100-per-cent-controlled Bokan-Dotson Ridge rare heavy REE project on Prince of Wales Island in southeast Alaska, United States.

Ucore is listed on the TSX-V under the trading symbol UCU and in the United States on the OTC Market's OTCQX Best Market under the ticker symbol UURAF.

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