Mr. Pat Ryan reports

UCORE CONGRATULATES HASTINGS ON ITS ACQUISITION OF A MIXED RARE EARTH CHLORIDE PRODUCTION FACILITY AND UPDATES ON SUPPLY DISCUSSIONS

Ucore Rare Metals Inc. has acknowledged the recent disclosure by its partner, Hastings Technology Metals Ltd., in partnership with Wyloo, regarding the acquisition of a fully permitted hydrometallurgical mixed rare earth chloride production facility in Thailand.

Ucore congratulates Hastings and Wyloo (the Yangibana joint venture partners) on this strategic acquisition, which is expected to accelerate their ability to process third party monazite feedstock prior to development of the Yangibana project. The addition of near-term MREC production capability represents a step forward in strengthening a diversified, Western-aligned rare earth supply chain.

The announcement builds on the previously disclosed non-binding heads of agreement between Ucore and the Yangibana joint venture partners, under which the parties agreed to advance discussions toward a long-term supply arrangement of rare earth concentrate to Ucore's developing strategic metal complex in Louisiana.

Ucore fully endorses this acquisition in conjunction with the continuing efforts to progress from the heads of agreement toward a definitive supply agreement. The company continues to work collaboratively with Hastings and Wyloo to align commercial terms, product specifications and project timelines.

Pat Ryan, Ucore chairman and chief executive officer, commented: "This is a strong and strategic move by Hastings and Wyloo. Establishing early monazite processing capability adds momentum to the broader Yangibana development pathway and supports the availability of the supply chain we are working to build together. We look forward to continuing to advance our discussions and moving toward a definitive agreement."

Ucore's focus remains on aligning upstream supply with its developing mid-stream MREC processing and rare earth oxide production capabilities in Louisiana, with the objective of establishing a fully integrated Western rare earth supply chain spanning mine-to-oxide production.

About Ucore Rare Metals Inc.

Ucore is focused on rare and critical metal resource, extraction, beneficiation and separation technologies with the potential for production, growth and scalability. Ucore's vision and plan are 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 rare earth element 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 southeastern Alaska, United States.

Ucore is listed on the TSX Venture Exchange 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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