Ucore Updates on its US Heavy Rare Earth Production and DPAS Status

Ucore announces:

• Under its US$22.4 million funding agreement with the US Army Contracting Command-Orlando to launch its RapidSX™ rare earth element separation technology operations in Alexandria, Louisiana, the following progress updates:

  • Completion of initial Alexandria field work activities

  • The application of Defense Priorities & Allocations System ("DPAS") status to work being performed on the project

  • RapidSX™ full commercial scale-up engineering and testing program

  • Continued execution towards feedstock partnerships

  • Long Lead Time Material identification and sourcing

Halifax, Nova Scotia--(Newsfile Corp. - September 19, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide progress updates regarding its US$22.4 million modified funding agreement with the US Army Contracting Command-Orlando. The purpose of the May 2025, Phase II modification project (the "Project") is to facilitate the construction of a production-ready commercial RapidSX™ machine and supporting infrastructure in Alexandria, Louisiana.

Defense Priorities & Allocations System ("DPAS") Rating

The Company is also pleased to report on the recent application of a DPAS DO-B8 rating to purchase orders related to the Project.

A DPAS rating imposes legal obligations on suppliers of equipment to the Louisiana SMC such that the fulfillment of any order for the SMC must be afforded preferential treatment over unrated orders in order to meet national defense and emergency preparedness requirements.

The DPAS is a regulation administered by the Department of Commerce that implements the priorities and allocations authority contained in Title 1 of the Defense Production Act ("DPA") of 1950 with respect to industrial resources, essentially prioritizing DPAS rated orders over all others in order to meet national defense and emergency preparedness requirements.

The Company's contract with US Army Contracting Command-Orlando was modified on July 9, 2025 to afford the contract DPAS status.

Figure 1 - Ucore's Demonstration-Scale Transition to Commercial-Scale US Rare Earth Separation

To view an enhanced version of this graphic, please visit:
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Louisiana SMC

Current updates include:

• Completion of initial Alexandria field work activities for acquired, and as applicable, properties over which the Company has a right of first refusal ("ROFR"), including:

  • Boundary surveys

  • Final Level II Environmental Site Assessment

  • Topographical surveys

  • Utility surveys

  • Revit model of the original building design with a confirming dimensional 3D-building scan

  • Existing building slab engineering analysis

Figure 2 - Final Level II Environmental Site Assessment Bore Hole Drilling

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• RapidSX™ full commercial scale-up engineering and confirmation testing program, including:

  • Design engineering, material sourcing, and initial commencement of full-scale RapidSX™ equipment confirmation testing

  • Exceeding the 50% progress milestone for system engineering transition planning from the Commercialization and Demonstration Facility ("CDF") to the SMC based on projected Louisiana SMC feedstocks

• Continued execution towards feedstock partnerships

  • August 2025, in-country due diligence meetings at multiple prospective partners' sites and continued definitive agreement discussions

• Long Lead Time Material ("LLTM") identification and sourcing

  • Exceeding the 75% milestone towards finalization of the bill of materials and sourcing for all primary and supporting LLTM equipment to support planned H2-2026 US Government demonstrations of a single RapidSX™ machine

The primary objectives of the Phase II Project are:

1. Construct and demonstrate optimized full-scale RapidSX™ technology modules at the CDF.
2. Conduct a systems engineering approach to facilitate a knowledge transfer of the innovative RapidSX™ separation technology from the CDF to the SMC based on selected Louisiana SMC feedstocks.
3. Install production separation capacity at the SMC capable of processing hundreds of tonnes of heavy and/or light total rare earth oxide ("TREO") processing utilizing the RapidSX™ technology equipment platform.

It is anticipated that upon the successful completion of the Project, Ucore will continue to construct and install its RapidSX™ machines in succession to complete its planned 2,000 tonne per annum ("tpa") TREO Stage 1^[i] construction and simultaneous production project. The concurrent construction and production efforts are enabled by the unique modular and adaptable attributes of the RapidSX™ technology platform, coordinated with a prudent capitalization plan.

"During the Phase I government demonstration program, Ucore made significant strides in the validation and commercialization of its RapidSX™ separation technology platform," stated Mike Schrider, P.E., Ucore's Vice President and Chief Operating Officer. "The Phase II full-scale underway assembly and engineering transition work simply builds upon the approximately 5,500 hours of Demonstration Plant run time in a simulated commercial environment, and allows us to truly optimize the scaled-up equipment against the millions of collected system data points assembled throughout the collection and analysis of nearly 11,000 process samples.

"Ucore has established a decisive pathway to heavy rare earth processing in the United States based on a technology that significantly modernizes and improves the fundamentally sound and well-proven chemistry of solvent extraction."

Further, Ucore Rare Metals Inc. is pleased to announce that it has engaged the services of ImpactDeck, a leading investor relations firm specialising in metals and mining companies. ImpactDeck will assist Ucore Rare Metals Inc. in increasing its visibility within the investment community and enhancing engagement with key investors.

In consideration of the services provided, Ucore Rare Metals Inc. will pay ImpactDeck a prepaid cash consideration of $25,000 CAD for an initial six-month term, starting September 15, 2025, and ending on March 15, 2026. Upon completion of the initial term, the Company may elect to continue services on a month-to-month basis or under a renewed six-month agreement. ImpactDeck, led by James McFarland and based in Montreal, Quebec, does not directly or indirectly have an interest in the securities of the Company.

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About Ucore Rare Metals Inc.

Ucore is focused on rare- 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.

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 the OTA and the expected successful progress of the Project and the resulting milestone payments from the DoD, the Company has assumed that the Project (including each of its milestones) will be completed in a satisfactory manner and in a reasonable period of time within approximately the next two years. For additional risks and uncertainties regarding the Company, the CDF, the Demo Plant and the Project (generally), see the risk disclosure in the Company's MD&A for Q2 2025 (filed on SEDAR on August 28, 2025) (www.SEDAR.com) 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 Strategic Metals Complexes ("SMCs"). Ucore has also assumed that sufficient external funding will be found to complete the Demo Plant commissioning and demonstration schedule and also later prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Element 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 continue the development of the specific engineering plans for the SMCs and their 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 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.

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.

CONTACTS

Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.

For additional information, please contact:

^[i] Followed by a 5,000± tpa TREO total Stage 2 capacity, with an ultimate capacity of 10,000± TREO tpa in Stage 3.

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