Mr. Michael Schrider reports

UCORE PRODUCES NDPR OXIDE AND SHIPS QUALIFICATION SAMPLES TO MAJOR RARE EARTH MAGNET MANUFACTURERS

Ucore Rare Metals Inc. has produced commercial-grade neodymium-praseodymium (NdPr) oxide and shipped initial qualification samples to major rare-earth permanent magnet manufacturers for technical evaluation.

Ucore announces:

• Ucore has produced 99.5-plus-per-cent neodymium-praseodymium oxide generated at its 52-stage RapidSX demonstration plant in Kingston, Ont.
• Initial NdPr oxide qualification samples were shipped to major rare-earth permanent magnet manufacturers serving North American and European supply chains.
• Testing of the samples begin the process of confirming purity, phase composition, consistency and compatibility with customer-compliant NdFeB permanent magnet manufacturing processes.
• The qualification work is intended to support the development of structured definitive supply agreements aligned with Ucore's planned Louisiana strategic metals complex and its commercialization and demonstration facility in Kingston, Ont.

The sample shipments mark an important step in Ucore's strategy to connect its RapidSX rare-earth separation platform directly with downstream magnet, metal, alloy and advanced materials supply chains. NdPr oxide is a critical mid-stream material that is converted into metal and alloy feedstock for neodymium-iron-boron (NdFeB) permanent magnets, which are used across high performance motors, robotics, electric vehicles, industrial automation, renewable energy systems and defence applications.

The NdPr oxide qualification samples were produced as part of Ucore's continuing demonstration and commercialization work. During this work, the company's 52-stage RapidSX demonstration plant at its commercialization and demonstration facility (CDF) in Kingston, Ont., processed a heavy mixed rare-earth oxide (MREO) feedstock derived from an ionic clay source and produced 99.5-plus per cent NdPr chloride. Ucore subsequently converted a portion of this chloride solution into 99.5-plus per cent NdPr oxide.

Strategic alignment with Western supply chain development

Ucore has previously announced strategic relationships with major rare-earth permanent magnet manufacturers that are working to expand Western magnet production capacity. These relationships are intended to position Ucore as a mid-stream rare-earth oxide supplier for strategically important downstream manufacturers focused on rebuilding North American and allied rare-earth magnet supply chains. In addition to utilizing dysprosium (Dy) and terbium (Tb), which Ucore plans to produce in Louisiana, these magnet manufacturers also utilize NdPr oxide, which is expected to be an important part of Ucore's product suite at its prospective Louisiana SMC.

"Sample qualification is a critical step toward developing potential offtake arrangements," stated Pat Ryan, PEng, Ucore's chairman and chief executive officer. "The NdPr oxide shipped to major rare-earth magnet manufacturers was not produced in a concept study. It was produced through Ucore's RapidSX demonstration platform, from real mixed rare-earth feedstock and is now in the hands of companies working to develop Western magnet manufacturing capacity."

Mike Schrider, PE, Ucore's vice-president and chief operating officer, commented: "For downstream customers, oxide quality matters. Purity, impurity control, physical form, consistency, conversion performance and traceability all have to be understood before commercial supply can begin. These samples give potential customers the material they need to evaluate Ucore's rare-earth oxides against their own technical and manufacturing requirements."

Mr. Schrider added: "This work also gives Ucore direct feedback from downstream customers as we continue to translate the learnings from our Kingston CDF into the design, construction, commissioning and operational plans of the Louisiana strategic metals complex."

Customer qualification: turning separated oxides into supply chain inputs

The evaluation work by major downstream customers focuses on confirming that Ucore's rare-earth oxides meet the technical, quality and traceability requirements for use in Western magnet and advanced materials supply chains.

The qualification process is expected to include:

• Independent chemical assay work to confirm rare-earth oxide purity and key impurity levels;
• Confirmation of oxide characteristics, including phase composition, handling, moisture and consistency;
• Assessment of compatibility with magnet manufacturing requirements, including alloy formulation, process qualification and finished magnet compliance expectations;
• Development of product specifications, quality assurance protocols, logistics requirements and commercial terms to support definitive long-term supply agreements.

This qualification process is a key step toward elevating strategic relationships currently at the MOU level and could contribute toward potential commercial offtake arrangements. It allows downstream manufacturers and advanced materials customers to certify that Ucore's separated rare-earth oxide products meet their required technical specifications before larger-volume supply commitments are finalized.

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, Ucore aims to support the development of a more diversified and resilient North American REE 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, U.S. (Bokan).

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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