• Ucore has recently acquired more than 2 tonnes of a mixed light rare earth element (REE) chemical concentrate derived from a US mineralization source

• This light REE feedstock is the third and final feedstock the Company will use during commissioning trials at its Kingston, Ontario, RapidSX Demonstration Plant:

  • The Company has also incorporated mixed chemical concentrates created from a synthetic monazite blend and a heavy mixed rare earth oxide acquired from a US-friendly ionic clay mineralization source

Halifax, Nova Scotia--(Newsfile Corp. - June 29, 2023) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the acquisition of its third mixed rare earth element ("REE") chemical concentrate at the Company's RapidSX Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario. This light REE feedstock is from a US mineralization source and will be incorporated into the commissioning process for the 52-Stage RapidSX Demonstration Plant ("Demo Plant") for the separation of mixed heavy and light REE chemical concentrates. It follows two other mixed chemical concentrates that are utilized in the commissioning process, a) a synthetic light mixed rare earth oxide blend modeled in a monazite source and b) a heavy mixed rare earth oxide acquired from a US-friendly ionic clay mineralization source.

Ucore's RapidSX commissioning program is a first-of-a-kind in North America. It consists of processing all three light and heavy REE feedstocks through the same Demo Plant circuit and, in parallel, a corresponding 52-stage conventional solvent extraction ("SX") mixer settler pilot plant to obtain direct comparative results between the two processes. Once the commissioning process is complete, Ucore will commence its heavy REE demonstration and qualification program with the US Department of Defense ("DoD"). This US$4 million project from the US government was announced on June 6, 2023, and represents a significant stepping stone in Ucore's transition to the commercial deployment of its RapidSX REE separation technology platform in Alexandria, Louisiana.

"We believe that Ucore's Kingston, Ontario, Demo Plant is currently the largest heavy REE separation plant in North America," stated Mike Schrider, Ucore Vice President and Chief Operating Officer. "It is capable of processing tens of tonnes of light and heavy REEs utilizing the exact same equipment - and represents a unique technological advantage as North America endeavors to compete on the global stage to produce individual rare earth oxides required to support the growing EV industry."

"The underway commissioning process at the CDF is the single most significant leap in the development of the RapidSX technology platform and, once completed, will open the pathway to direct commercialization and monetization of Ucore's business model."

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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.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX Best Market under the ticker symbol "UURAF."