Ucore Comments on G7 Focus to Secure Critical Mineral Supply Chains, October 30-31, 2025

Company highlights policy tools-offtakes with price supports, strategic stockpiling, and targeted financing-that could accelerate North American rare earth independence

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") issued the following statement regarding the G7 Energy and Environment Ministers' Meeting taking place in Toronto, Ontario, October 30-31, 2025.

Public statements by government officials ahead of the meeting indicate that ministers intend to move beyond discussion toward concrete measures that strengthen allied critical mineral supply chains. With partners including the United States and Australia a multilateral approach is the mandate. These measures include long-term offtake agreements with price-support features, strategic stockpiling, and targeted public financing for mining, refining, and midstream processing - tools aimed at improving market stability, enhancing security of supply, and catalyzing private investment across the energy-transition value chain.

"We will see this week many examples of us moving beyond talks to firm commitments," said Canada's Minister of Energy and Natural Resources in remarks previewing the meeting.

What this means for Ucore shareholders

• Improved bankability & revenue visibility: Durable pricing frameworks and government-backed offtakes can reduce commodity price volatility, narrowing financing risk and improving the economics of North American rare earth refining.
• Faster path to domestic supply: Strategic stockpiles and procurement programs can accelerate qualification cycles and enable earlier, larger-scale purchases of high-purity rare earth oxides (REOs) by automakers, wind OEMs, and defense supply chains.
• Reduced single-country risk: Coordinated G7 action to diversify supply reduces exposure to concentrated sources for rare earth magnets and battery materials -supportive of regional refining capacity and multi-source feedstock strategies.

"Rare earths are foundational to the clean energy transition and modern manufacturing," said Pat Ryan, P.Eng., Chairman & CEO of Ucore. "As policy frameworks take shape to secure and decarbonize energy systems, Ucore is progressing North American refining capacity designed to deliver high-purity rare earth oxides responsibly and at scale. We see working with key allied Western world countries to achieve this objective as a priority."

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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.

Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA ("Bokan").

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."

For further information, please visit www.ucore.com.

Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

Regarding the disclosure in the press release above about the government support for Ucore, the Company has assumed that the applicable projects (including each of the associated milestones) will be completed satisfactorily and in accordance with the respective agreements or letters of intent (as applicable) for such government support. For additional risks and uncertainties regarding the Company, its business activities, its ability to qualify for and receive any additional funding from any U.S. or Canadian government, the CDF and the aforementioned projects (generally), see the risk disclosure in the Company's MD&A for Q1 2025 (filed on SEDAR+ on May 9, 2025) (www.sedarplus.ca) as well as the risks described below. As noted above, the execution of a Definitive Offtake Agreement will be conditional upon the parties agreeing on commercial terms, among other conditions precedent.

Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future SMCs. Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work required at the CDF and also later prepare a new National Instrument 43-101 technical report that demonstrates that Bokan is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction and eventual commissioning and operations. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

CONTACTS

Mr. Peter Manuel, Ucore Vice President and Chief Financial Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272422