Halifax, Nova Scotia--(Newsfile Corp. - June 1, 2026) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce a significant step forward in Canada's critical minerals strategy, having hosted senior officials from Natural Resources Canada ("NRCan") and other Government of Canada departments at its Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario, on May 14, 2026. The high-level visit focused on Ucore's progress under Natural Resources Canada's Critical Minerals Research, Development and Demonstration ("CMRDD") program, and other federal initiatives to strengthen domestic rare earth element ("REE") supply chains.

During the visit, Ucore showcased the Company's advancements in REE separation using its patent pending RapidSX™ technology. Funding from the CMRDD program is advancing the Technology Readiness Level ("TRL") of Ucore's RapidSX™ technology platform through the production of neodymium-praseodymium ("NdPr") and Samarium ("Sm") products at the CDF from tonnes of Canada-friendly feedstock sources.

Figure 1 - Officials from The Government of Canada and NRCan at Ucore's CDF

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Discussions also explored the implementation of new policies supporting Canadian critical mineral independence and the standing up of the recently established $2 billion Critical Minerals Sovereign Fund.

Mike Schrider, P.E., Ucore's Vice President & Chief Operating Officer, emphasized the growing momentum behind the Company's Canadian operations:

"Our Kingston team has made demonstrable progress under the NRCan CMRDD program, continuing to prove the efficacy of RapidSX™ as a commercial-ready solution for the separation of both heavy and light rare earth elements. Hosting NRCan and other senior officials at our facility allowed us to show, firsthand, how we are turning policy into practice."

Dr. Ahmad Hussein, Head of External Affairs and Ucore's Advisory Board Member, highlighted the technical and strategic alignment with federal priorities:

"The visit confirmed that Ucore's work directly supports Canada's mandate to build secure, sustainable rare earth supply chains. Our progress in REE processing at the Kingston facility demonstrates the viability of on-shore separation. We are actively reviewing how the $2 billion Critical Minerals Sovereign Fund and new policy frameworks can be leveraged to scale our operations, reduce foreign dependency, and deliver long-term value for Canadian industry."

The RapidSX™ Commercialization and Demonstration Facility is the centerpiece of Ucore's Canadian strategy, positioning the Company as a key enabler of North American rare earth production. Ucore continues to work closely with federal partners to advance towards full commercial deployment in Canada.

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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-inclass 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 US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore's 100% controlled BokanDotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA ("Bokan").

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

For further information, please visit www.ucore.com.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

Regarding the disclosure in the press release above about government support for Ucore, the Company has assumed that the applicable projects (including each of the associated milestones) will be completed satisfactorily and in accordance with the respective agreements or letters of intent (as applicable) for such government support. For additional risks and uncertainties regarding the Company, its business activities, its ability to qualify for and receive any additional funding from any U.S. or Canadian government, the CDF and the aforementioned projects (generally), see the risk disclosure in the Company's MD&A for Q1-2026 (filed on SEDAR+ on May 29, 2026) (www.sedarplus.ca) as well as the risks described below.

Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as supply chain participants for Ucore's expected future SMCs. Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work required at the CDF and also later prepare a new National Instrument 43-101 technical report that demonstrates that Bokan is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction and eventual commissioning and operations. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; unexpected cost overruns; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

CONTACTS

Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.

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