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Monday, 11/20/2023 12:31:05 PM

Monday, November 20, 2023 12:31:05 PM

Post# of 2144
Ucore Receives a $4.28 Million Funding Agreement from the Government of Canada


Ucore Announces:

It is the recipient of $4.28 million funding agreement from the Government of Canada for the demonstration of Ucore’s RapidSX™ Rare Earth Element Separation Technology Capabilities (the “Project”).
Under the Project, the Company will produce high-purity NdPr, Pr and Nd over a 6-month period from 13-15 tonnes of Canadian and US feedstock sources.


Halifax, Nova Scotia (November 20, 2023) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to announce that the Company has executed a $4.28 million Non-Repayable Contribution Agreement with the Government of Canada (“Government”) to demonstrate its RapidSX™ Rare Earth Element Separation Technology Capabilities (the “Project”).

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The funding will be used to demonstrate the commercial efficacy of the Company’s patent-pending RapidSX™ rare earth element (“REE”) separation technology platform specifically for light REEs. The Company will produce nearly continuous high-purity samples of praseodymium (Pr), neodymium (Nd), and a praseodymium|neodymium compound (NdPr). The Company expects to process 13-15 tonnes of mixed rare earth carbonates and oxides from various Canadian and US feedstock sources at its RapidSX™ Commercialization and Demonstration Facility (“CDF”) in Kingston, Ontario. The Project budget totals $8.31 million, with $4.28 million provided through the Government funding.