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Halifax, Nova Scotia–(Newsfile Corp. – October 7, 2021) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company“) and Alaska’s Southeast Conference (collectively the “Parties“) are pleased to announce the execution of a Memorandum Of Agreement (“MOA“), setting forth certain nonbinding understandings and binding agreements between Ucore and Southeast Conference for the evaluation and potential establishment of a Natural Resource Development Complex. The complex will include land and a building (the “Facility“) suitable to house Ucore’s rare earth element (“REE“) separation and purification plant (the “Plant“, the “Alaska Strategic Metals Complex” or the “Alaska SMC“) for the production of REE oxides (“REOs“). The site selection for the Facility shall be based on the explicit goal of expanding the Natural Resource Development Complex with other related and non-related Southeast Alaska economic development opportunities.

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