Ucore Comments on Strategic Metals Complex & Consolidated Appropriations Act

- May 26th, 2017

Ucore Rare Metals (TSX VENTURE:UCU)(OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to comment on recent initiatives by the US government to assist in the development of strategic metals mining and separation in the United States. The Consolidated Appropriations Act, 2017 (the “Act”) which has been signed into law this month, includes a significant authorization of … Continued

Ucore Rare Metals (TSX VENTURE:UCU)(OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to comment on recent initiatives by the US government to assist in the development of strategic metals mining and separation in the United States. The Consolidated Appropriations Act, 2017 (the “Act”) which has been signed into law this month, includes a significant authorization of funds for the processing and acquisition of strategic metals from tailings on US soil, and directly addresses the Bokan project in Southeast Alaska.
The Act authorizes budget expenditures for F2017, including USD$5.5 million for the remediation of historic uranium mine waste from the Bokan Mountain site in Alaska, in addition to an allocation of USD$15 million for the extraction of rare earth elements (REE) and minerals from strategic coal tailings sites in the Eastern US.
Jim McKenzie, President & CEO of Ucore, commented:

“The US government’s dedication of over 20 million dollars in F2017 to projects which are directly aligned with Ucore’s Strategic Metals Complex (SMC) facilities and our strategy of tailings processing/monetization, is well timed.
We’re pleased that Sen. Joe Manchin, Sen. Lisa Murkowski, and their colleagues have ensured that the development of US based REE resources and the remediation and economic development of resource-rich tailings sites using clean extraction technologies, are high priorities for the U.S. government. Ucore, with its partner IBC Advanced Technologies Inc, is pursuing the application of the SuperLig® metals separation and tailings processing platform in both instances.”

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