Ucore Rare Metals Inc. provided a technical update on its RapidSX Demonstration Plant ("Demo Plant") for the separation of heavy and light rare earth elements ("REEs"). The Demo Plant is located within Ucore's 5,000 square foot RapidSX? Commercialization and Demonstration Facility (" CDF") in Kingston, Ontario, and is operated by its commercialization partner, Kingston Process Metallurgy Inc. ("KPM").

The Ucore team's work at the CDF over the past three-plus years has demonstrated a range of significant gains and process benefits of RapidSX for separating and purifying REEs. Ucore has qualified these RapidSX benefits through an independent 3rd party evaluation, filing a robust intellectual property ("IP") patent to protect the Company's clear process advantages, and embarking on a Demo Plant commercialization, scale-up and technology transfer program for its developing 7,500 tonnes per annum (ex-cerium and ex-yttrium) REE separation plant - the Louisiana Strategic Metals Complex (" LA-SMC") in Alexandria, Louisiana. To ensure best in class processing metrics at its LA-SMC the Company is working to precisely quantify these RapidSX??

benefit through a rigorously engineered demonstration program for the US Department of Defense. Ucore is preparing for the commercial processing of a broad array of both heavy and light mixed rare earth chemical concentrates originating from a wide variety of mineralization sources. To date, three different feedstock sources have been included in the work at the CDF.

Noted below are the detailed engineering, commissioning, testing and/or demonstration focus/optimization areas currently underway for each CDF and LA-SMC feedstock: Cerium Depletion. Yttrium Depletion. Leaching to Produce Pregnant Leach Solution ("PLS").

Processing through a Conventional Solvent Extraction ("CSX") Mixer Settler Pilot. Plant of a Similar 52-Stage System to Establish Baseline SX Performance. Processing through the 52-Stage RapidSX Demo Plant (heavies and/or lights - yielding PrNd, Pr, Nd, Tb, Dy and Y).

To ensure optimum design and engineering of the LA-SMC, work at the RapidSX. Commercial Demonstration Plant, includes the following specific testing, engineering and integration activities: Chloride Precipitate Production Component Degradation Testing. Component Non-Destructive & Destructive Testing.

Distillation & Neutralization System. Dynamic Analytical Integration with Control System - on-site TXRF & ICP-MS. Hydrochloric Acid Recovery & Recycling. Oxalate Precipitate Production- small batch.

Oxide Production - small batch. Programmable Logic Controller ("PLC") System - feedstock-specific programming for chemistry delivery and feedback from over 600 system sensors. Radioactive Monitoring and Tracing - potential trace amounts in every product and waste stream.

Scale-Up Demonstration - for LA-SMC commercial plant. Techno-Economic Engineering - including digital twin modeling Ventilation & Fume Scrubbing System. Waste Water Treatment System.