Ucore Applauds Signing of 2018 National Defense Authorization Act

Ucore Rare Metals(TSXV:UCU) (OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to comment on the signing yesterday of the 2018 National Defense Authorization Act by President Trump. The Act features a number of initiatives of strategic importance to Ucore, including the authorization for $5 million in funding for the development of strategic materials technologies at the Army Research Laboratory (“ARL”) during the coming fiscal year.

The $5 million program has direct import to Ucore, as the funds have been set aside for the “development of improved manufacturing technology for separation, extraction, smelter, sintering, leaching, processing, beneficiation, or production of specialty metals such as lanthanide elements…” The lanthanide elements comprise the suite of metals more commonly referred to as the Rare Earth Elements.

As previously stated in a report by the Senate Armed Services Committee, this significant funding is allocated for domestic producers that the Department believes are likely to initiate commercial production of such materials within the next five years.

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