Ucore Rare Metals Inc - UURAF STOCK NEWS

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) has announced a memorandum of understanding (MOU) with Cyclic Materials for the future supply of recycled mixed rare earth oxide (rMREO). The collaboration aims to:

1. Support Ucore's rare earth demonstration program at its RapidSX™ Commercialization and Demonstration Facility in Kingston, Ontario.
2. Establish a long-term source for Ucore's developing commercial rare earth element separation and oxide production plants in North America.

The project received $4.28 million in funding from Natural Resources Canada's Critical Minerals Research, Development and Demonstration Program. Both companies view this partnership as a step towards reducing North America's dependence on foreign rare earth supply chains.

Ucore Rare Metals announced that its Louisiana Rare Earth Refinery aligns strategically with US government efforts to bolster the American electric vehicle (EV) market. On May 14, 2024, the White House introduced a 100% tariff on EV imports from China and a new 25% tariff on permanent magnets, critical for EV motors, primarily controlled by China. Ucore's Alexandria, Louisiana facility aims to process up to six different sources of US-friendly feedstock, enhancing supply chain resilience. The facility plans to escalate production from 2,000 tonnes to 7,500 tonnes per annum. This development supports the US objective of reducing dependency on Chinese imports and fostering a robust domestic supply chain.

Ucore Rare Metals Inc. completed initial testing of a rare earth carbonate sample from Defense Metals' Wicheeda Project, confirming its suitability for commercial-scale processing with Ucore's RapidSX™ technology. The MREC sample will be incorporated into the NRCan light REE demonstration program and used in the Louisiana Strategic Metals Complex project. SGS Canada Inc. shipped the sample to Ucore's CDF, with positive feedback from both companies' executives. The collaboration aims to reduce North American reliance on non-Western rare earth sources.

Ucore Rare Metals Inc. announces successful separation of rare earth elements with RapidSX™ technology, achieving purity above 99%. Completion of second milestone in $4 million agreement with the US Department of Defense. The company is working towards individual separation of key rare earth elements, including dysprosium, from US-friendly sources to reduce dependence on China.

Ucore Rare Metals Inc. announces its participation in the 2024 Prospectors & Developers Association of Canada Conference. The company aims to provide updates to investors on recent developments and presents its vision to become a leading advanced technology company in metal separation products and services. Ucore plans to disrupt China's control of the North American REE supply chain through strategic partnerships and the development of rare-earth processing facilities.

Ucore Rare Metals Inc. secures $4.2 million in funding from Natural Resources Canada's Critical Minerals Research, Development and Demonstration program to scale up and demonstrate the commercial efficacy of its rare earth element separation technology. The investment aims to support the development of electric vehicle motors and wind turbines, create employment opportunities, and build expertise in the critical minerals space.

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.