Ucore Hosts 'Secure Supply Chains' Panel at PDAC 2022 - Rare Earths and other Critical Metals

• Ucore Rare Metals Inc. will lead a diverse international panel covering:
  • the need for self-sufficient and sustainable new supply chains in the West
  • the role of Western technologies and superior environmental standards in the shift to an independent critical materials supply chain
• Moderated by Tracy Weslosky on the InvestorIntel.com stage on June 14, 2022, at 3 p.m. at PDAC 2022

Halifax, June 13, 2022 - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce that it will host a panel discussion on Tuesday, June 14, 2022, from 3-4 p.m. EDT on InvestorIntel Stage 1, Level 700 at the Metro Convention Centre in Toronto, Ontario as part of PDAC, the world's premier mineral exploration & mining convention. The topic is "Building the Rare Earths and Critical Materials' Supply Chain to Meet the EV Market Demand." Panelists with varied experiences will discuss the collective shift from high dependency to diversified, sustainable and socially responsible sourcing, circularity, and innovation. They include:

• Byron W King, InvestorIntel.com
• Pat Ryan. Ucore Rare Metals Inc.
• Boyd Davis, Kingston Process Metallurgy (KPM)
• Geoff Atkins, Vital Metals Ltd.
• Jon Hykawy, Stormcrow Capital

The panel will be moderated by InvestorIntel Founder and CEO Tracy Weslosky and will be recorded for publication on InvestorIntel.com the following week on Monday, June 20, 2022.

"These are some of the leading lights of the rare earths and critical materials world," said InvestorIntel Founder and CEO Tracy Weslosky, "and this is guaranteed to be an informative and lively discussion of one of the most important investment trends of the decade."

Discussion will focus on the need for self-sufficient and sustainable new supply chains founded on state-of-the-art technological advancements and superior environmental standards in the West - as automotive companies commit hundreds of billions of dollars to shift their vehicle platforms to electric. More than 60% of passenger car sales must be EVs by 2030 for the world to be on track to meet net-zero greenhouse gas emissions. China however controls many portions of critical material supplies and had over 50% of global EV sales in 2021 with a target to have 75% of new passenger vehicles electrified by 2025. Their supply chains that control many resources as well as refining for battery metals like nickel, lithium and cobalt or rare earths for EV motors have been evolving since the turn of the century and will be used first and foremost for their own domestic needs. This exposed vulnerability has the attention of many Western nations as they seek to develop critical material supply chains to ensure manufacturing independence and security.

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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, Ucore's vision includes disrupting the People's Republic of China's control of the US REE supply chain through the near-term development of a heavy and light 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.

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 exploration drilling, exploration activities, mine re-opening, property transactions and 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. The historic mineral production estimates described in this press release do not represent estimates of mineral resources or mineral reserves that may be present at the Property, and there is no assurance that any current uranium resources or reserves may be present at the Property. Uranium prices are subject to fluctuation, and a decrease in the price of uranium could drastically impact the likelihood of the Company entering into any potential transaction with respect to the former Ross-Adams Uranium Mine.

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 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: 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127443