Mr. Michael Schrider reports

UCORE APPLAUDS WHITE HOUSE EXECUTIVE ACTION TO STRENGTHEN CRITICAL MINERAL PRODUCTION

Ucore Rare Metals Inc. has commented on the latest executive order issued by President Trump, invoking wartime powers under the Defense Production Act to address threats to the country's national and economic security by reliance upon hostile foreign powers' mineral production.

The executive order outlines a number of initiatives to "facilitate domestic mineral production to the maximum extent possible" and is aimed at the production of a number of critical minerals, including rare-earth elements. More specifically, the executive order directs the Development Finance Corp. (DFC) and Secretary of Defense to develop a plan to establish a dedicated mineral and mineral production fund for domestic investments within 30 days.

Additionally, the Secretary of Defense has been directed to add mineral production as a priority industrial capability development area for the Industrial Base Analysis and Sustainment program (IBAS). Ucore is a current participant of the IBAS program and is processing rare-earth materials at its RapidSX commercial demonstration facility further to a $4-million (U.S.) contract with the U.S. Department of Defense (see Ucore press release dated June 6, 2023).

"President Trump's executive order underscores the urgent need to establish robust, domestic rare-earth processing capabilities," said Pat Ryan, chairman and chief executive officer of Ucore. "As the U.S. looks to onboard rare-earth mineral projects, there is strategic merit in knowing that significant security can be established by first dominating the processing and refining. We look forward to continuing our work with the Department of Defense to support this important initiative as we move toward commercializing our RapidSX rare-earth element (REE) refining technology."

Ucore's first strategic metals complex is to be located in the England Airpark (formerly the England Air Force Base). The project has already garnered strong support from both government and private sector stakeholders and will provide the U.S. with the capacity to produce high-purity REEs essential for national security and technological advancement.

This executive order aligns strongly with Ucore's continuing efforts to develop a resilient Western supply of REEs, including those crucial to semiconductor manufacturing, robotics and clean energy applications. With the global semiconductor market projected to exceed $1-trillion by 2030 and artificial-intelligence-driven automation fuelling unprecedented demand for rare-earth permanent magnets, Ucore's scalable and modular refining process is uniquely positioned to fill this critical gap.

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 establishment 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-per-cent-controlled Bokan-Dotson Ridge rare heavy REE project on Prince of Wales Island in southeast Alaska, United States.

We seek Safe Harbor.