Ucore Applauds White House Executive Action to Strengthen Critical Mineral Production
Ucore Applauds White House Executive
Action to Strengthen Critical Mineral
Production
Halifax, Nova Scotia (March 21, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX:
UURAF) (“Ucore” or the “Company”), is pleased to comment on the latest executive order
issued by President Trump, invoking wartime powers under the Defense Production Act to
address threats to the country’s national and economic security by reliance upon “hostile
foreign powers’ mineral production” (the “Executive Order”).
The Executive Order outlines a number of initiatives to “facilitate domestic mineral production
to the maximum extent possible ” and is aimed at the production of a number of critical
minerals, including rare earth elements. More specifically, the Executive Order directs the
Development Finance Corporation (“ DFC”) and Secretary of Defense to develop a plan to
establish a dedicated mineral and mineral production fund for domestic investments within
30 days.
Additionally, the Secretary of Defense has been directed to add mineral production as a
priority industrial capability development area for the Industrial Base Analysis and
Sustainment Program (“IBAS”). Ucore is a current participant of the IBAS Program and is
processing rare earth materials at its RapidSX ™ Commercial Demonstration Facility further
to a USD$4 million contract with the US Department of Defense (see Ucore Press Release
dated June 6, 2023 Ucore Announces a US$4 Million Award from the US Department of
Defense – Ucore Rare Metals Inc.).
“President Trump’s executive order underscores the urgent need to establish robust ,
domestic rare earth processing capabilities,” said Pat Ryan, Chairman and CEO of Ucore.
“As the US looks to onboard rare earth mineral projects, there is strategic merit in knowing
that significant security can be established by first dominating the processing and refining.
We look forward to continuing our work with the Department of Defense to support this
important initiative as we move toward commercializing our RapidSX™ rare earth element
(“REE”) refining technology.”
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Figure 1 – Aerial view of Ucore’s planned Strategic Metals Complex in the England
Airpark, Alexandria, Louisiana
Ucore’s first Strategic Metals Complex is to be located in the England Airpark (formerly the
England Air Force Base). The project has already garnered strong support from both
government and private sector stakeholders and will provide the U.S. with the capacity to
produce high-purity REEs essential for national security and technological advancement.
This executive order aligns strongly with Ucore’s ongoing efforts to develop a resilient
Western supply of REEs, including those crucial to semiconductor manufacturing, robotics,
and clean energy applications. With the global semiconductor market projected to exceed $1
trillion by 2030 and AI -driven automation fueling unprecedented demand for rare earth
permanent magnets, Ucore’s scalable and modular refining process is uniquely positioned to
fill this critical gap.
See the following link for the full text of the Executive Order: Immediate Measures to Increase
American Mineral Production – The White House.
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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 establishment of a
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heavy and light rare -earth processing facility in the U.S. State of Louisiana, subsequent
Strategic Metal Complexes 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. The details of the legislation by which
tariffs are implemented can potentially impact the effectiveness of the protections afforded by
Foreign Trade Zones. 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 any disclosure in the press release above about the US Department of Defense
or the Government of Canada Programs and the expected successful progress and resulting
milestone payments from these Programs, the Company has assumed that the Programs
(including each of their milestones) will be completed satisfactorily. For additional risks and
uncertainties regarding the Company, the CDF, the Demo Plant and ongoing Programs
(generally), see the risk disclosure in the Company’s MD&A for Q3-2023 (filed on SEDAR on
November 20, 2023) (www.sedarplus.ca) 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 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 construct ion 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 Industri al Development and Export
Authority (“AIDEA”) regarding the development of Bokan; the availability and procurement of
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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:
Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
1.902.482.5214