Mr. Mark MacDonald reports

UCORE ANNOUNCES BOOKS CLOSED ON C$15.5 MILLION LIFE OFFERING AND FULL EXERCISE OF AGENTS' OPTION

Further to Ucore Rare Metals Inc.'s news release dated June 9, 2025, the order book for the company's previously announced upsized private placement is closed, with orders totalling $15.5-million. The offering is oversubscribed and includes the full exercise of the agents' option. Although orders in excess of $15.5-million were received in connection with the offering, in keeping with the previously announced upsize, the company and agents have elected to limit the order book to a total amount of $15.5-million.

Red Cloud Securities Inc., as lead agent and sole bookrunner, and Raymond James Ltd. are acting as agents in connection with the offering, which was originally announced for aggregate gross proceeds of up to $10-million on June 3, 2025, and then subsequently upsized due to strong investor demand.

For additional information regarding the offering and the anticipated use of proceeds from the offering, please see the company's press release dated June 9, 2025.

The company and the agents do not intend to further upsize the offering. It is anticipated that the offering will close on or about June 19, 2025, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange.

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

For further details concerning the offering, please refer to the company's amended and restated offering document relating to the offering, which can be accessed under the company's SEDAR+ profile and on the company's website.

About Ucore Rare Metals Inc.

Ucore is focused on rare-metal and critical-metal resources as well as extraction, beneficiation and separation technologies with the potential for production, growth and scalability. Ucore's vision 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 China's control of the North American rare earth element 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 heavy REE project on Prince of Wales Island in southeastern Alaska, United States.

We seek Safe Harbor.