Ucore Provides Update on the Commercialization of IMC's RapidSX Rare-Earth-Elements Separation Technology

Independent third-party expert evaluation testing of RapidSX™ technology is complete, and the independent report describing the findings is expected in January 2022
RapidSX™ hardware design and the commercial demonstration plant engineering layout are complete
Procurement of components and construction of the commercial demonstration plant are well underway
Ucore is advancing its coordinated ALASKA2023 Plan, including Strategic Metals Complex engineering, feedstock sourcing and testing, product offtake arrangements, metal and alloy making strategic alliances, and solidification of funding sources

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide the following update regarding the Company's wholly owned subsidiary, Innovation Metals Corp. ("IMC" or the "company"), and their activities concerning the commercialization of RapidSX™ technology for the separation and purification of rare-earth elements ("REEs"), at IMC's Commercialization and Development Facility ("CDF") in Kingston, Ontario, Canada.

Figure 1 - 3D CAD Model of the IMC Demo Plant Design (showing the layout of the RapidSX™ contactor-separator pairs and selected additional supporting hardware)

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1119/108603_101a6181b42f0a94_001full.jpg

After completing extensive process and hardware design activities this year, the commissioning of the RapidSX demonstration-scale plant ("Demo Plant") is currently scheduled to begin in Q1-2022. Following a comprehensive, independent techno-economic study and the subsequent design of a commercial-scale REE separation facility, Ucore and IMC anticipate that the RapidSX technology will be ready for commercial adoption and implementation in Ucore's Alaska Strategic Metals Complex ("SMC") engineering development program by Q2-2022, coupled with IMC's roll-out of a revenue-producing licensing model by the end of 2022.

"Dr. Gareth Hatch and the entire IMC team have put forth a tremendous effort in recent months towards the commercial realization of the RapidSX rare earth separation technology; a technology that we believe is the critical link in reestablishing a North American rare-earth-element supply chain," stated Ucore Chairman and CEO, Pat Ryan, P.Eng. "Our belief is led by our actions, and we have supported and funded IMC's efforts for the development of RapidSX and the coordinated plan for its subsequent deployment into the first modern rare-earth separation plant in North America, the Alaska SMC - on schedule for production of individual rare-earth oxides in H1-2024."

Independent Evaluation

Following initial extraction-rate testing in the summer of this year, the team at Kingston Process Metallurgy ("KPM") subsequently completed a series of additional extraction-rate tests to further validate the approach being taken and to quantify the effects of the underlying phenomenon being exploited using the RapidSX columns. Such tests utilized various mixed REE solutions, including commercially-available feedstocks procured from a US-allied source.

A subset of the tests was observed by an independent third party as part of the Independent Evaluation of the RapidSX technology, initiated earlier in the year. With the associated empirical work now concluded, an independent report describing the findings is scheduled for January 2022.

Completion of RapidSX Hardware Design and Demo Plant Layout

IMC has completed the initial design and layout of the individual column assemblies for the RapidSX Demo Plant, as well as the pump and piping networks and other physical hardware required. The company is in the final stages of selecting and subsequently procuring the components of the instrumentation and control system that will be utilized for the Demo Plant. The layout of the RapidSX columns that make up the Demo Plant had been further optimized to reduce the overall footprint at the CDF, as shown in Figure 1.

Working with IMC's laboratory partner, KPM, the company has undertaken initial Hazard Identification and Analysis ("HAZID / HAZAN") work at the CDF, ahead of completing a standard Hazard and Operability ("HAZOP") study for the Demo Plant. HAZID / HAZAN is an important 'best-practice' risk-assessment process for engineering projects of this type, and the associated HAZOP study will be an essential means of ensuring safe, efficient and reliable plant operations.

Construction and Commissioning of the Demo Plant

Procurement of the other components for the Demo Plant is well underway, with some fabricated sub-assemblies and off-the-shelf items already having been received. The current target for the completion of construction is the end of Q1 2022, with commissioning and operation during an initial test campaign to commence shortly thereafter. IMC is carefully managing the procurement process, cognizant of the current volatility in the general supply chain at present as a result of the Covid-19 pandemic.

Mathematical Process Modeling

IMC has made significant progress in recent months on the mathematical modelling of the chemical processes that occur during the operation of the RapidSX technology. These models will form the basis of the proprietary software that will be utilized at the commercial scale for the control of RapidSX-based separation facilities to optimize parameters for the physical hardware platform. The mathematical models have already been effectively used in the development of REE separation flowsheets and regimes for extraction-rate testing and will assist in the finalization of the flowsheet for the initial campaign, which will be undertaken using the Demo Plant.

Yttrium Removal

In addition to the ongoing RapidSX development work, IMC has also been working with researchers at the University of Toronto to develop and evaluate proprietary, cost-effective methods of reducing the quantity of yttrium ("Y") in heavy-REE ("HREE")-rich feedstocks, prior to separation using RapidSX. The empirical work is being overseen by IMC Technical Advisory Board member Prof. Gisele Azimi, associate professor in the Departments of Chemical Engineering & Applied Chemistry and Materials Science & Engineering.

Y is a lower-value REE, and reducing the quantity of Y in HREE feedstocks (such as from the Bokan-Dotson Ridge Rare Earth Element Project) prior to subsequent separation, has the potential to reduce operating costs, as well to reduce the required plant size, thus reducing capital costs. The work has progressed very well to date, and Ucore looks forward to reporting on further developments in early 2022.

The advancements made by IMC are just one of many steps in the development of the ALASKA2023 Plan that Ucore is currently progressing, including:

Securing third-party allied-sourced feedstock for the Alaska SMC (see Ucore's October 19, 2021, news release regarding the MOU with Vital Metals)
Engineering planning for the Alaska SMC REE separation & purification plant founded on modern RapidSX technology
Securing offtake agreements for the sale of rare-earth oxides
Forming strategic alliances for the production of rare-earth metals and alloys
Working with prospective partners for various sources of project funding:
- Debt Financing, Offtake Pre-Purchase & Supply, USG Matching Grant Funds, Lease Back Arrangement (see Ucore's October 7, 2021, news release regarding the MOA with Southeast Conference), Other Funding
Engineering and testing for the Bokan-Dotson Ridge Zone mill flowsheet
Community and stakeholder engagement to ensure prudent environmental, social and corporate governance ("ESG") activities.

###

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has a 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. 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, Ucore's vision includes disrupting the People's Republic of China's control of the US REE supply chain through the development of a heavy-rare-earth processing facility - the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

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.

About Innovation Metals Corp.

IMC has developed the proprietary RapidSX™ process, for the low-cost separation and purification of rare-earth elements, Ni, Co, Li and other technology metals, via an accelerated form of solvent extraction. IMC is commercializing this approach for a number of metals to help enable mining and metal-recycling companies to compete in today's global marketplace. IMC is a wholly owned subsidiary of Ucore Rare Metals Inc.

For more information, please visit www.innovationmetals.com.

About the RapidSX™ Technology

IMC developed the RapidSX separation technology with early-stage assistance from the United States Department of Defense ("US DoD"), later resulting in the production of commercial-grade, separated rare-earth oxides at the pilot scale. RapidSX combines the time-proven chemistry of conventional solvent extraction ("SX") with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth-element ("REE") industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX is not a "new" technology but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements" regarding, among other things, the Company's ALASKA2023 Business Plan as well as the upcoming prospective financing activities involving the Company and AIDEA. 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, litigation outcomes, events, or developments that the Company expects, 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. In regard to the disclosure in the "About Ucore Rare Metals Inc." section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to IMC, as suppliers for Ucore's expected future Alaska Strategic Metals Complex ("Alaska SMC"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("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 develop the specific engineering plans for the Alaska SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: Innovation Metals Corp. ("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 Alaska SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the Alaska SMC 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 Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the Alaska SMC; 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.

CONTACT

Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
902.482.5214
mark@ucore.com

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Ucore Rare Metals UCU:CA UURAF Rare Earth Investing

UCU:CA,UURAF

Ucore Announces Private Placement Financing

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce plans to complete a non-brokered private placement of approximately 3.1 million units ("Units") for total proceeds of $2 million (the "Offering").

Proceeds from the Offering are expected to be used towards the commissioning of the Company's planned RapidSX^TM demonstration plant; the processing of initial feedstock through the demonstration plant; finalization of offtake and feedstock agreements; engineering work for the proposed Strategic Metals Complex in Louisiana, USA; and for general working capital purposes.

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The US State of Louisiana Offers C$15M+ Incentive Package for Ucore's First RapidSX Rare Earth Processing Facility - the Louisiana SMC

The proposed incentive package from Louisiana includes US$9.6M in tax incentives and payroll rebates over the first ten years of operation. Upon specific site selection:
- potential additional state and local economic and workforce incentives
- an expedited process for all required state permits
Ucore's Board of Directors has unanimously agreed to commit the Company toward establishing its first Strategic Metals Complex (SMC) in Louisiana
Rare earth oxide products from the Louisiana SMC will be critical to North America's and Louisiana's goal to expand toward green energy technologies

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce a mutual commitment with the US State of Louisiana ("Louisiana" or the "State") toward the establishment of the Company's first Strategic Metals Complex ("SMC") rare earth element ("REE") separation facility - the Louisiana SMC.

The Company's executive team has been in discussions with the State since the spring of 2022 and spent the better part of summer in a due-diligence process. This included an August trip to examine ten existing "brownfield facilities" throughout the State. Each of these facilities provides a head start as the prospective location of the Louisiana SMC versus a new construction or "greenfield facility."

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Ucore's Rare Earth Separation Commercial Demonstration Plant On-Track for Q4-2022 Commissioning

Ucore's rare earth separation commercial demonstration plant is designed to process:
- Tens of tonnes of mixed rare earth concentrates on a per annum basis.
- Many feedstock sources, including heavy and light rare earth element feedstocks planned for the full-scale Strategic Metals Complexes (SMC).
- All RapidSX™ splits required to produce individual praseodymium, neodymium, terbium, and dysprosium.
Planned commissioning in Q4-2022, followed by product qualification trials for prospective North American metal/alloy makers and original equipment manufacturers seeking diversified and sustainable metallic supply chains.
The full-scale SMC engineering entity, Mech-Chem Associates, Inc., is now fully integrated into all demonstration plant activities.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide an update on the Innovation Metals Corp.[i] ("IMC") RapidSX™ rare earth element ("REE") separation technology platform and the Company's commercial Strategic Metals Complex ("SMC") technology deployment process (the "Program"). The work is taking place at the companies' laboratory partner's (Kingston Process Metallurgy Inc. ("KPM")) facility in Kingston, Ontario, Canada.

The Program was enhanced after Ucore received the independent evaluation of the RapidSX™ technology platform leading to the subsequent July 12, 2022, announcement of the nearly 3X increase in scope of the RapidSX™ REE demonstration-scale plant ("Demo Plant"). Since then, the Ucore, IMC, KPM, and Mech-Chem Associates, Inc.^[ii] ("Mech-Chem") commercialization team (the "Team") has made significant strides in the procurement and construction process for the Demo Plant.

The final engineered layout of the Demo Plant takes up nearly all of the 5,000 square foot Commercialization and Demonstration Facility ("CDF") at KPM. And the concept of building a plant within an existing building is the go-forward transition template for the engineering process that the Team will replicate to create the first full-scale SMC, once the brownfield site^[iii] selection process is finalized. This initial SMC is scheduled to produce 2,000 tonnes of total rare earth oxides ("TREOs") by the end of 2024 and 5,000 tonnes by 2026.

Figure 1 - Engineered Design of the Currently Under Construction 51-Stage RapidSX™ REE Demo Plant

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1119/137284_ffcfc5cec4a3a9a7_001full.jpg.

"The CDF Team, and the rest of the world, is facing extraordinary supply chain challenges regarding equipment and component availability," stated Mike Schrider, P.E., Ucore's VP and COO. "Despite this situation, we have managed to procure the initial feedstocks and virtually all of the required major equipment and components, and the Demo Plant remains on track for a late 2022 commencement of the commissioning process."

"This process will demonstrate the unprecedented North American separation of tonnes of both heavy and light rare earth elements. It will then continue with end-user qualification trials throughout 2023 for Western entities seeking diversified and sustainable metallic supply chains as Ucore transitions to full-scale commercial mode with the construction of our first SMC."

Ucore's REE Separation Demo Plant is designed to:

Have the ability to process tens of tonnes of mixed rare earth concentrates on a per annum basis:
- from a wide variety of feedstock sources, including the heavy REE ("HREE") and light REE ("LREE") feedstocks planned for the full-scale SMCs.
Be capable of processing all RapidSX™ splits required to produce individual praseodymium, neodymium, terbium, and dysprosium.
Have a parallel 51-stage conventional solvent extraction ("CSX") mixer/settler circuit that will match the RapidSX™ process' configuration and enable direct head-to-head comparison of the performance of RapidSX™ vs. CSX.

Figure 2 - A Sampling of the On-hand CDF Components and Construction Efforts

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1119/137284_ffcfc5cec4a3a9a7_002full.jpg.

Ucore stands alone in its speed of executing the commercial deployment of one of the first modern technology platforms for separating HREEs and LREEs - as a replacement for CSX. Mech-Chem is now fully integrated into all CDF activities and is aligned to assist with the full-scale SMC techno-economic assessment and engineering data transfer. The efficiencies and environmental advantages resulting from the CDF demonstration processes are, and will continue to be, directly incorporated into the full-scale SMC engineering design packages. This integrated process is rapidly positioning Ucore to meet the demanding schedule requirements for the development of the first SMC and REO production for the Company's emerging list of prospective downstream partners.

# # #

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has an effective 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. 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 includes disrupting the People's Republic of China's control of the US REE supply chain through the near-term development of heavy and light rare-earth processing facilities - including the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

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.

About RapidSX™ Technology

IMC developed the RapidSX™ separation technology platform with early-stage assistance from the United States Department of Defense ("US DoD"), later resulting in the production of commercial-grade, separated rare-earth oxides at the pilot scale. RapidSX™ combines the time-proven chemistry of conventional solvent extraction ("SX") with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth-element ("REE") industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX™ is not a "new" technology but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.

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.

In regard to the disclosure in the "About Ucore Rare Metals Inc." section above, 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 Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("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. 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 Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the Alaska SMC; 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.

CONTACT

Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
1.902.482.5214
mark@ucore.com

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Ucore Secures Line of Credit Financing, Maintains Its Fast Track Plan for RapidSX Commercial Deployment

Orca Holdings, LLC provides a Line of Credit Facility in the amount of USD$2 million
The primary use of funds is for the continued construction of Ucore's rare earth element Commercial Demonstration Plant and its planned Q4-2022 commissioning

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the receipt of financing by way of a secured line of credit facility in the amount of up to USD$2 million (the "Line of Credit"). Proceeds from the Line of Credit will primarily be used to continue the development of the Company's RapidSXTM Rare Earth Element ("REE") Commercial Demonstration Plant ("Demo Plant"), currently scheduled for commissioning in Q4 of 2022, as detailed in the Company's July 12, 2022 news release.

The Line of Credit has been extended by Orca Holdings, LLC ("Orca"). In consideration for granting the Line of Credit and subject to the approval of the TSX Venture Exchange, two million warrants ("Warrants") will be issued to Orca, with each Warrant entitling Orca to acquire one common share of the Company at an exercise price of CAD$0.75 during a one-year term ending on July 20, 2023. On July 21, 2022, the Company applied to the TSXV for the exchange's approval of the issuance of the Warrants.

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Ucore Secures Strategic Advantage with Louisiana Foreign Trade Zone Amid Proposed U.S. Trade Policies

Ucore's proposed Louisiana rare earth refining facility is located within the England Airpark & Community, a Foreign Trade Zone.
Foreign Trade Zones have the potential to mitigate the impact of proposed tariffs on the import and export of rare earth products.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), noting the recent news about potentially increased tariffs, comments on the value of its new Strategic Metals Complex (SMC) in the favorable location of England Airpark Foreign Trade Zone (FTZ) for affordable supply of rare earths to U.S. consumers.

During the recent election campaign, and following the Republican victory, President-elect Trump emphasized a return to tariffs and other trade measures as a way to encourage the reshoring of American manufacturing. Key proposals include heightened tariffs on Chinese and other foreign-made goods, especially in critical materials supply chains.

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Ucore Provides Corporate Update

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") announces that the Company intends to extend the term of a total of 7,055,795 common share purchase warrants (the "Warrants"). The Warrants were originally issued pursuant to a non-brokered private placement of the Company, which closed on December 22, 2022. Each Warrant is exercisable at a strike price of $0.85, with an original 24-month term. The Company intends to extend the expiry date for these Warrants by 12 months, and accordingly, the new, proposed expiry date for the Warrants will be December 22, 2025.

All other terms and conditions of the Warrants will remain unchanged. The extension of the term of the Warrants is subject to the acceptance of the TSX Venture Exchange (the "TSXV").

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Mkango's Q3 Results Highlight Progress at US, UK Rare Earths Plants

Canadian rare earths company Mkango Resources (TSXV:MKA) has released its third quarter financial results, spotlighting the progress of its US-based HyProMag USA rare earth recycling project.

HyProMag USA is focused on rare earth magnet recycling and manufacturing in Texas, representing a key component of Mkango’s efforts to meet the growing demand for sustainable rare earth materials. The project is owned by Maginito, Mkango's 79.4 percent owned joint venture with partner CoTec Holdings (TSXV:CTH,OTCQB:CTHCF).

A feasibility study for the project, released on November 25, revealed a post-tax net present value of US$262 million and a 23 percent internal rate of return at current rare earth prices, demonstrating the project’s economic viability even under conservative market conditions. At forecast market prices, it reported an NPV of US$503 million and an IRR of 31 percent.

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Positive Feasibility Study Demonstrates Profitable Magnet Recycling Business in UK

Landmark Belfast facility backed by UK Government shows strong returns and supply chain engagement

Ionic Rare Earths Limited (“IonicRE” or the “Company”) (ASX: IXR) wholly owned subsidiary Ionic Technologies is on track for the development of a unique commercial REO manufacturing facility in Belfast, UK, following the successful completion of a Feasibility Study that demonstrates both strong financial returns and environmental sustainability. The study positions Ionic Technologies as the ‘first mover’ in the development of a sustainable, traceable and sovereign UK/Europe supply chain, meeting the demands of the net-zero transition, advanced manufacturing and defence.

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Sale of Crossroads Gold Royalty for A$4 Million Cash

CuFe Ltd (ASX: CUF) (CuFe or the Company) is pleased to announce that its wholly owned subsidiary Jackson Minerals Pty Ltd (Jackson) has entered into a binding sale and purchase agreement with Northern Star (Saracen Kalgoorlie) Pty Ltd and Northern Star (KLV) Pty Ltd (collectively Northern Star) for the sale of Jackson’s 2% Net Smelter Royalty over Northern Star’s Crossroads gold project.

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Ucore Closes Private Placement Financing

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce that has closed its previously announced non-brokered private placement offering of 4,803,329 units (the "Units") at a price of $0.50 per Unit for gross proceeds of $2,401,665 (the "Offering"). Each Unit consists of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") for a period of 24 months following the date of closing of the Offering (the "Closing Date", being the date hereof) at an exercise price of $0.75.

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Ucore Provides Update on the Commercialization of IMC's RapidSX Rare-Earth-Elements Separation Technology

Landmark Belfast facility backed by UK Government shows strong returns and supply chain engagement

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