UCORE RARE METALS INC - UURAF STOCK NEWS

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has been invited to present at the Mine to Magnet Workshop hosted by Lockheed Martin, discussing challenges and opportunities in the rare earth supply chain. The company is working to bring the production of these critical materials onshore, aligning with new regulations requiring defense contractors to disclose the sources of rare earth elements. Ucore also announced a USD$4 million demonstration program with the US Department of Defense to demonstrate the capability to commercially source a sustainable, domestic processing facility for rare earth products.

Ucore Rare Metals Inc. (UCU) and Defense Metals Corp. announce the planned shipment of a mixed rare earth carbonate sample from Defense Metals' Wicheeda Project to Ucore's RapidSX™ Commercialization and Demonstration Facility in Kingston, Ontario. The shipment is part of a collaborative project under a Memorandum of Understanding to explore enhanced working relationships. Ucore is pleased to execute a non-binding MOU with Defense Metals to explore collaborative opportunities for a North American rare earth element supply chain. This marks one of the first projects under the MOU, with Defense Metals shipping a mixed rare earth carbonate sample to Ucore's facility for testing. The companies aim to be part of the Western world's REE supply chain, with Ucore's technology platform RapidSX™ playing a crucial role in the development of the first modern technology commercial REE processing plant in Louisiana.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has executed a multi-decade lease for an 80,800 square foot brownfield facility on a 10.7+ acre industrial parcel for its developing rare earth element processing facility in Alexandria, Louisiana. The company aims to process 2,000 tonnes per annum of total rare earth oxides by H1-2025, expanding to 5,000 tpa TREO by 2026, and 7,500 tpa TREO by 2027. The lease arrangement is designed to ensure the facility's long-term viability and employment opportunities for the residents of Rapides and the surrounding Parishes. Ucore is grateful to various entities for securing this long-term arrangement in Alexandria and looks forward to achieving numerous related milestones in Q1-2024.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) is pleased to comment on recent announcements out of China regarding the export of technology for the processing of rare earth elements. China announced a ban on the export of technology to produce rare earth permanent magnets and confirmed its existing ban on technology associated with the separation of REEs. China currently dominates the supply of rare earth components, particularly those containing terbium and dysprosium, accounting for nearly 90% of the world's rare earth permanent magnets. Ucore has commenced a US$4 million contract with the US Department of Defense to demonstrate its RapidSX™ rare earth processing technology.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) announces amendments and extension of debt agreements with Orca Holdings, LLC, to support long-term creditor position and business objectives. The company's strategic plan aligns with the amended credit agreements, positioning Ucore for an independent North American supply of critical materials.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) announces the completion of its third and final stage of Commercial Demonstration Plant commissioning procedures and the commencement of the US Department of Defense demonstration program for its RapidSX™ technology for rare earth element separation.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) announces significant updates regarding the ongoing development of its rare earth element processing refinery, the Louisiana Strategic Metals Complex. The updates include the execution of a contract for exemption of ad valorem taxes, the selection of construction engineering and contracting services, and a programmatic kick-off meeting for the construction engineering and contracting effort of the LA-SMC.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has secured a $4.28 million funding agreement from the Government of Canada to demonstrate its RapidSX™ Rare Earth Element Separation Technology Capabilities. The funding will be used to produce high-purity NdPr, Pr, and Nd over a 6-month period from 13-15 tonnes of Canadian and US feedstock sources. This non-repayable contribution will assist Ucore in qualifying critical magnet materials with automotive, wind energy, and consumer OEMs, complementing the recently announced US Department of Defense demonstration funding for heavy REE magnet materials. The initiative aims to develop an alternative North American rare earth supply chain, addressing concerns over the ongoing availability of these critical materials amid China's increased scrutiny over rare earth element exports.

Ucore Rare Metals (TSXV: UCU) (OTCQX: UURAF) will be presenting at Red Cloud's 2023 Fall Mining Showcase. The event will take place at the Sheraton Centre Toronto Hotel from November 7-8, 2023. Pat Ryan, Chairman & CEO, will present on November 8th at 04:20 PM Eastern Standard time.