Mr. Mark MacDonald reports

UCORE ANNOUNCES BROKERED LIFE OFFERING OF UNITS FOR UP TO $10 MILLION

Ucore Rare Metals Inc. has entered into an engagement letter with Red Cloud Securities Inc., on behalf of a syndicate of agents, in connection with a best efforts agency basis private placement of units of the company at a price of $1.20 per unit (the offering price) for maximum gross proceeds of $10-million. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share for a period of 36 months following the closing date of the offering at an exercise price of $1.75.

The company has granted the agents an option, exercisable in whole or in part prior to the closing of the offering, to offer and sell up to an additional 1.25 million units at the offering price, for additional gross proceeds of up to $1.5-million. If the agents' option is exercised in full, the aggregate gross proceeds to the company will be $11.5-million.

The units to be issued under the offering will be offered to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions (NI 45-106), in all the provinces of Canada, except Quebec. The units will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

The net proceeds of the offering are expected to be used for the following: (i) finalization of upstream mixed-rare-earth feedstock agreements and downstream customer offtake agreements for the company's planned strategic metals complex (SMC) in Louisiana, United States; (ii) completion of the corporation's existing obligations pursuant to its agreements with the United States Department of Defense and Natural Resources Canada; (iii) commercial-scale column confirmation testing; (iv) progressing engineering drawings and plans, which are currently continuing, for the company's planned SMC; and (v) general working capital requirements.

There is an offering document relating to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The offering is scheduled to close on or about June 19, 2025 (the closing date), and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange (the TSX-V).

As consideration for their services, the agents will receive an aggregate cash fee equal to 6.0 per cent of the gross proceeds of the offering, provided that a cash fee equal to 3.0 per cent shall be payable in respect of gross proceeds from units sold to purchasers included on a president's list to be determined by the company. In addition, the corporation will issue to the agents warrants representing 6.0 per cent of the aggregate number of units issued pursuant to the offering, provided that broker warrants equal to 3.0 per cent shall be issuable in respect of units sold to purchasers on the president's list. Each broker warrant will entitle the holder to purchase one common share at a price equal to the offering price for a 36-month period from the date of issuance.

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 (rare-earth elements) 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 Markets' OTCQX Best Market under the ticker symbol UURAF.

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