Ucore Updates Mineral Resource Estimate and Technical Report for Bokan Dotson-Ridge Rare Earth Property

Ucore Rare Metals Inc. (TSXV: UCU,OTC:UURAF) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the completion of an upgraded mineral resource estimate ("Resource" or "Mineral Resource") for the Bokan Dotson-Ridge rare earth element project in Southeast Alaska ("Bokan"), together with the associated Technical Report (the "Technical Report"). The Technical Report has been prepared in accordance with both National Instrument 43-101 and SEC Regulation S-K 1300. The effective date of both the mineral resource estimate and the technical report is April 9, 2026.

A summary of the upgraded mineral resource estimate is as follows:

Notes:

1. Total Rare Earth Oxides (TREO) includes: La₂O₃, Ce₂O₃, Pr₂O₃, Nd₂O₃, Sm₂O₃, Eu₂O₃, Gd₂O₃, Tb₂O₃, Dy₂O₃, Ho₂O₃, Er₂O₃, Tm₂O₃, Yb₂O₃, Lu₂O₃, Y₂O₃

2. Heavy Rare Earth Oxides (HREO) includes: Eu₂O₃, Gd₂O₃, Tb₂O₃, Dy₂O₃, Ho₂O₃, Er₂O₃, Tm₂O₃, Yb₂O₃, Lu₂O₃, Y₂O₃

3. The mineral resource estimate was completed by Mr. Jim Robinson, a Senior Consulting Geologist at Aurora Geosciences (Alaska) Ltd. ("Aurora"). Mr. Robinson is an independent qualified person for the purposes of NI 43-101 standards of disclosure for mineral projects of the Canadian Securities Administrators and has reviewed and verified the technical and scientific content disclosed in this release. A Technical Report with the updated Mineral Resource estimate will be filed on SEDAR+ within 45 days.

4. The resource estimate is based on:

• A database of 97 diamond drill holes totaling 20,000 m and 85 surface channels totaling 280 m. This diamond drilling and channel sampling was completed by Ucore in 2008, 2009, 2010, 2011, 2014, and 2022 on the Dotson Ridge zone.

• All geochemical analyses were performed by ALS Chemex, Eco-tech Laboratories Ltd., Bureau Veritas (ACME Analytical), and Activation Laboratories.

• The specific gravity ("SG") used is the overall mean of 2.77, determined from 309 SG readings.

• Block model was estimated by the Inverse Distance Squared interpolation method on blocks of maximum 4 m x 4 m and minimum 1 m x 1 m dimensions.

• All rare earth element ("REE") assays exceeding the 95% confidence level ("CL") were cut to the 95% CL for each element.

• All intercepts with a true width of less than 1.5 m were diluted to a potential mining width of 1.5 m.

"While the Company's focus remains squarely on the deployment of RapidSX^TM rare earth refining technology in our Louisiana SMC, the Bokan Dotson-Ridge property remains an important asset as the United States develops an independent rare earth supply chain," said Pat Ryan, Chairman and CEO of Ucore. "Critical minerals are not just commodities but are strategic national security inputs. As demand for rare earth elements continues to grow, the importance of this supply chain will only increase."

Rare earth grades by individual light rare earth oxide at the 0.4% cut-off are as follows:

Rare earth grades by individual heavy rare earth oxide at the 0.4% cut-off are as follows:

An additional 801,600 tonnes of newly estimated Measured mineralization grading 0.60% of total rare earths ("TREO") at a cut-off grade of 0.40% TREO has now been added to the total Resource at Bokan, which is a result of a surface channel sampling program carried out on the property in the summer of 2022. After the sampling program was completed, a new deposit model was constructed and a new mineral resource was calculated.

The Company is additionally pleased to report that Bokan has an anomalous skew towards the more valuable heavy rare earths ("HREO") and this appears to be consistent across the entire deposit at 35-40% of the TREO. The Resource remains open both at depth and along strike.

The upgraded Resource has been prepared by Aurora. As a third-party consultant, Aurora was additionally responsible for the data collection, quality control, modeling, and reporting associated with the Resource estimate upgrade.

In keeping with the initial mine design set out by Stantec Inc. of Tempe, AZ, ("Stantec"; released April 18, 2012), the upgraded Mineral Resource excludes the I&L Zone (previously included in the initial resource estimate released by the Company March 7, 2011). On the recommendation of Stantec, I&L mineralization, located outside of the primary Dotson Zone of mineralization, will be examined as part of a prospective Phase II mine expansion program.

The drill-defined Mineral Resource at Bokan Dotson-Ridge commences at surface and is open both at depth and along strike. Additional information regarding significant drill results from the Company's prior exploration programs and maps and sections detailing the drill-hole locations and individual REE values are available at: www.ucore.com.

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About Ucore Rare Metals Inc.

Ucore is focused on rare-earth 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 Ucore's plan to file a Technical Report on SEDAR+ within 45 days, the Company has assumed that the Technical Report and the accompanying certificates and consents required under Part 8 of NI 43-101 will be filed in the short term. 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 Q4-2025 (filed on SEDAR+ on March 18, 2026) (www.sedarplus.ca) as well as the risks described below.

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 Kingston 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.

Regarding the mineral resource estimate reported in this news release, there are several risks or factors which may affect the reported resource. These include but are not limited to:

• changing economic factors such as metal prices, and mining, shipping, fuel, electrical, and other costs, changes to which could make some or all of the deposit uneconomic to mine, decreasing the resource, or could cause more of the deposit to become economic to mine, thereby adding to the resource;
• new knowledge of the deposit geometry and metal distribution derived from further exploration or mining development;
• changes to the permitting regime, rules, and regulations which could make it more efficient and cost effective to permit a mine, or make it not feasible to do so;
• and government, aboriginal, community and NGO issues which could make the deposit more or less amenable to development and mineral extraction.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292398