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Tuesday, 05/10/2022 12:42:02 PM

Tuesday, May 10, 2022 12:42:02 PM

Post# of 2144
Ucore Mobilizes Geological Crew to Bokan Mountain as Prices for Heavy Rare Earth Oxides Continue to Rise

- Ucore's subcontracted geological team, Aurora Geosciences Ltd., is mobilizing for deployment to the Bokan Mountain Complex during the week of May 9, 2022, for Ucore's Summer 2022 Resource Upgrade Program, a program intended to:
- Upgrade the Bokan-Dotson Ridge Zone Mineral Resource estimate from the current ˜18% Indicated and ˜82% Inferred classifications to include a ˜17% to 20% Measured classification later in 2022 by:
- Obtaining ˜50 additional channel samples along the ˜2 km exposed vein outcroppings
- Extracting ˜50 tonnes of supplementary mineralized material from two new bulk sample locations for planned mill flowsheet pilot-scale testing
- The Bokan-Dotson Ridge Zone is enriched with heavy rare earth elements, including terbium and dysprosium, the two heavy rare earth elements associated with electric vehicle permanent magnet synchronous motors.

Halifax, Nova Scotia (May 10, 2022) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the planned mobilization of a geological crew to conduct Ucore's Summer 2022 fieldwork program (the "Program") at the Company's Bokan-Dotson Ridge Zone mineral deposit ("Bokan" or "Bokan Project") on Prince of Wales Island, Alaska, USA. The Program is a continuation of Ucore's 2007, 2008, 2009, 2010, 2011 & 2014 Bokan Mountain Complex exploration drill programs and is being undertaken by Aurora Geosciences (Alaska) Ltd. ("AGL" or "Aurora") of Juneau, Alaska. The Program is designed to improve the geological confidence of the mineral deposit in preparation for a forthcoming planned pre-feasibility study ("PFS"), as the rare earth oxide ("REO") market continues its favourable response to the increased electrification demands related to the electric vehicle ("EV") and renewable energy sectors.