Ucore Engineering Report Drives Optimized Commercial Deployment Plan for Louisiana Strategic Metals Complex Orbital Engineering, Inc.’s Louisiana SMC report supports:
Ucore Engineering Report Drives Optimized Commercial
Deployment Plan for Louisiana Strategic Metals Complex
Orbital Engineering, Inc.’s Louisiana SMC report supports:
• a three production-line RapidSX™ configuration targeted to process up to ≈9,000 tpa of
TREO contained in qualified rare earth feedstocks, eliminating the fourth production line
as originally considered.
• the production of a full rare earth product suite, including NdPr, Pr, Nd, Sm, Gd, Tb and
Dy, noted by the U.S. DoW as most crucial under their Defense Production Act and IBAS
Programs.
• incorporating the principles of lean manufacturing with fewer parallel production lines,
yielding fewer individual column stages , resulting in reduced maintenance points, l ess
operator time, and other operating cost efficiencies , yet with similar processing
throughput.
• the creation of an additional ≈600 tpa TREO capacity, multi-purpose RapidSX™ Machine
“A” to be constructed first under the DoW Phase 2 Project, allowing for broader product
flexibility, production line integration, and simplified execution.
Halifax, Nova Scotia - May 28, 2026: Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF)
(“Ucore” or the “ Company”) is pleased to announce the results of a CAPEX and Capacity
Engineering Report, dated May 27, 2026, prepared by the Company’s engineering consortium and
led by Orbital Engineering, Inc. (“Orbital”). This report reflects the effort s to move from the
Company’s Kingston, Ontario, Commercialization and Demonstration Facility (“CDF”) to Production
Line 1 at the Louisiana Strategic Metals Complex (“ SMC”). Details include engineered capital
expenditure (“CAPEX”) and capacity projections for the initial standalone Machine A, and its planned
integration into the first multi -machine RapidSX™ Production Line 1 (“Production Line 1”) at the
Louisiana SMC.
Optimized Louisiana SMC Configuration
As a result of efficiencies identified through engineering, demonstration, and scale-up work testing,
Ucore is designing the Louisiana SMC to consist of the initial ≈600 tonnes per annum (“ tpa”) total
rare earth oxide (“TREO”) Machine A plus three RapidSX™ Production Lines (or “Trains”), each
capable of processing up to ≈3,000 tpa of TREO. This optimized configuration reduces the planned
number of production lines from four to three, while targeting an overall Louisiana SMC throughput
1 A RapidSX™ Production line is a series of RapidSX™ Machines (each machine conducts a specific solvent
extraction chemistry split) working together to produce multiple separated products.
capacity of ≈9,600 tpa of TREO . This configuration better balances capital intensity, reliability,
maintainability, commercial flexibility, and operating cost per unit of production.
Each machine will use optimized RapidSX™ columns and supporting equipment throughout,
increasing upfront capital costs but improving long -term operating economics by reducing the
number of parallel processing lines, individual columns, pumps, valves, instruments, and
maintenance points, and lowering operator time per unit of production.
“After approximately 6,500+ run-time hours in Ucore’s RapidSX™ Commercialization and
Demonstration Facility, our engineering team has developed a commercial configuration that
is expected to lower unit operating costs and improve reliability over the life of the plant with
expanded initial investment,” stated Pat Ryan, P.Eng., Chairman and CEO of Ucore. “This
is an important evolution in the Louisiana SMC plan. We are moving from a lowest initial build-
cost concept toward a more robust commercial operating configuration designed for higher
throughput per production line, fewer production lines, fewer maintenance points, and better
long-term operating performance.”
Mike Schrider, P .E., Vice President and Chief Operating Officer of Ucore, commented:
“The engineering objective has been to translate RapidSX ™ demonstration work into a
commercial configuration that is practical to build, practical to operate, and scalable for North
American rare earth supply chain requirements. The optimized design is intended to reduce
process complexity while retaining Ucore’ s ability to process qualified feedstocks from
multiple independent rare earth sources.”
Pending construction completion, commissioning, qualification, and receipt of all required funding
and permits, Ucore’s Louisiana SMC shall be capable of accepting mixed rare earth carbonate
(“MREC”) and mixed rare earth oxide (“ MREO”) from Western -friendly feedstock sources and
processing up to ≈9,600 tpa of contained TREOs. The SMC is designed to take advantage of the
inherent flexibility and modularity of the RapidSX ™ technical platform and capable of producing
NdPr, Pr, Nd, Sm, Gd, SmEuGd (“SEG”), Tb, Dy, rare earth oxide products, and intermediates.
Enhancements to Standalone Machine A
The first RapidSX ™ machine to be deployed in Louisiana , Machine A, is to be partially funded
through the Company’s previously announced US$18.4 million funding agreement with the US
Department of War (see Ucore Press Release dated Ju ly 14, 2025). Originally contemplated as a
single machine with 64 RapidSX ™ stages and designed to replicate the ‘any split’ methodology
demonstrated at the CDF through intermediate product storage and machine reuse, the now
enhanced Machine A will consist of ≈118 RapidSX™ stages. This will allow for the direct production
of neodymium-praseodymium (“NdPr”) from conventional MREC or MREO feedstocks, as well as
praseodymium (“Pr”), neodymium (“ Nd”), samarium (“ Sm”), gadolinium (“ Gd”), terbium (“ Tb”),
and/or dysprosium (“Dy”) from select partial MREC product groups without the use of interim product
holding tanks for successive separations. This important strategic adjustment was in direct
response to feedback from North American defense contractors regarding their urgent need
to secure Western sources of these critical oxides.
Combining Machine A with Production Line #1
Upon successful operation and completion of gating items associated with Machine A, the Company
intends to construct RapidSX™ Machines #1 and #2 of Production Line 1, dedicated to processing
up to 3,000 tpa of TREO to produce an NdPr product. At the same time, Machine A will have the
ability to work independently or attach to the back end of Production Line 1 to produce a SEG 2
product, while subsequent Production Lines 2 and 3 will be installed to eventually broaden the SMC’s
multi-product suite of offerings.
Planned Production Scale-Up
Ucore’s Louisiana SMC facility scale-up is proceeding under a defined execution plan:
Deployment step
Scope
Products
Enhanced Machine A The first RapidSX™ commercial
machine capable of up to ≈600
tpa TREO of bespoke processing
NdPr at an estimated throughput of
≈600 tpa TREO, with the ability to
also produce Pr, Nd, Sm, Gd, Tb,
and/or Dy, depending on feedstock
and sub-products availability
Production Line 1 Two RapidSX™ machines of
≈3,000 tpa TREO throughput
NdPr production with the remaining
products feeding Production Line 2
Enhanced Machine A
- Integration
Machine A can be integrated into
Production Line 1
Capable of producing a SEG
product sub-group
Production Line 2 Five RapidSX™ machines ≈3,000
tpa TREO throughput
NdPr, Tb, Dy, and SEG. Machines
#3, #4 and #5 will be sized to
accept intermediate streams from
Production Lines 1 and 3
Production Line 3 Two RapidSX™ machines ≈3,000
tpa TREO throughput
NdPr production with the remaining
products feeding Production Line 2
2 Samarium, Europium and Gadolinium
Engineered Capital Cost Estimates
Orbital’s engineered capital cost estimate for the Enhanced Machine A and Production Line 1 is as
follows:
Item
Engineered Capital Cost
Estimate
Enhanced Machine A
US$60M
Production Line 1
US$44M
Oxide Production and Packaging
US$31M
Machine A and Production Line 1 - Cumulative Cost
US$135M
The updated capital plan reflects the Company’s move from a lower initial build-cost configuration to
a more robust configuration designed to lower long -term unit operating costs, improve process
reliability, and increase maintainability as the Louisiana SMC scales toward commercial operations.
The updated estimates also reflect inflation and market -cost escalation since the prior pre-
engineering estimates, as well as the expansion of commercial-scale oxide production and
packaging equipment with more substantive supporting infrastructure and higher-capacity systems.
As mentioned above, the US$60 million estimated capital cost of Enhanced Machine A will be
partially funded by the previously announced US$18.4 million funding agreement with the US
Department of War. The amounts in the table above do not include the cost of the first-fill of
prospective feedstocks. The estimated timeline for completing the installation, testing, and
commissioning of Machine A remains H1-2027.
Rare Earth Market Conditions
Market prices for rare earth oxides sold outside of China continue to reflect constrained Western
supply chains and strong demand for critical magnet materials. According to Benchmark Mineral
Intelligence’s Rare Earths Price Assessment (30th April 2026), selected rare earth oxide prices were
as follows:
Product China price Indicative ex-China price
NdPr oxide US$116 / kg US$119 / kg
Tb oxide US$890 / kg Upwards of 5x DDP China
Dy oxide US$200 / kg Upwards of 7x DDP China
The markets for samarium and gadolinium remain more opaque, with fewer published data points
available. However, the Company’s trading partners have anecdotally observed samarium and
gadolinium each trading outside of China at more than US$300 per kg. The Company cautions that
these indicative and anecdotal pricing observations may not be representative of realized sales
prices, which will depend on product specification, jurisdiction, customer qualification, contract terms,
volume, delivery timing, and other commercial factors.
Canadian SMC Update
The Company remains engaged with Canadian federal government officials regarding the
Company’s proposed Canadian rare earth processing facility and the conditional funding package of
up to C$36.3 million announced by Ucore on October 31, 2025 . Ucore looks forward to providing
further details to stakeholders as they become available in the coming months.
About Ucore Rare Metals Inc.
Ucore is advancing North American rare earth separation and refining through its Louisiana Strategic
Metals Complex and the commercialization of its RapidSX ™ separation technology. Ucore’s vision
is to become a leading advanced technology company providing metal separation products and
services to the mining and mineral extraction industry.
Through strategic partnerships, Ucore’s plan includes the development of a heavy and light rare
earth processing facility in the United States, subsequent Strategic Metals 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 TSX Venture Exchange under the trading symbol “ UCU” and in the United
States on the OTC Markets’ OTCQX® Best Market under the ticker symbol “UURAF.”
Forward-Looking Statements
This press release contains “forward -looking information” and “forward -looking statements”
(collectively, “forward-looking statements”) within the meaning of applicable Canadian securities
laws. All statements in this release, other than statements of historical fact, that address future
business development, technological development, engineering, procurement, construction,
commissioning, commercial production, operating costs, capital costs, project timelines, throughput,
product mix, feedstock processing, government funding, customer qualification, offtake, market
prices, or other future events or developments are forward-looking statements.
Forward-looking statements in this release includes, without limitation, statements regarding: the
design, configuration and development of the Louisiana SMC; the expected number of RapidSX ™
production lines and machines; expected throughput of 9,600 tonnes per annum of TREO; expected
production of NdPr, Nd, Pr, Sm, Gd, Tb, and Dy; the expected sequencing and timing of t Machine
A, Production Line 1, Production Line 2, and Production Line 3; estimated capital costs for Machine
A and Production Line 1 and r elated infrastructure; expected operating characteristics, including
potential reductions in unit operating costs and improvements in reliability; targeted milestones for
engineering, construction, commissioning and commercial production; availability and sourcing of
feedstock; customer engagement and potential product demand; rare earth market conditions and
pricing; and the potential receipt of government funding and other financing..
Forward-looking statements are based on a number of material assumptions, including, without
limitation: the successful completion and accuracy of baseline, front -end-engineering design and
detailed engineering studies; the ability to complete further engineering, procurement, and
construction activities as currently contemplated; the availability, cost, and timely delivery of
equipment, materials, utilities, labour and construction services; the Company’s ability to secure
sufficient financing on acceptable terms; the receipt and timing of all required permits and approvals;
the successful scale-up and commercial deployment of RapidSX™ technology from demonstration
to commercial operation; the availability of qualified feedstock from third-party suppliers; successful
customer qualification and offtake discussions; continued support from governmental partners; and
general economic, market, and industry conditions, including assumptions regarding rare earth
oxide prices, which are subject to significant volatility..
Forward-looking information relating to capital cost estimates and project design is based on a
baseline engineering report and remains subject to refinement through further engineering and
project development. Such estimates may not be directly comparable to previously disclosed
estimates, which were prepared at an earlier stage of project development and may have included
different scope elements, assumptions, or cost categories, including feedstock, working capital, or
other non-capital items.
In addition, statements regarding expected operating efficiencies, cost reductions, reliability, and
commercial performance are based on current engineering assumptions and preliminary analyses
and are subject to validation through commissioning and commercial operations. There can be no
assurance that such expectations will be achieved in whole or in part.
Although the Company believes that the assumptions underlying the forward -looking information
are reasonable, there can be no assurance that such assumptions will prove to be accurate or that
the anticipated results, performance, or achievements will be realized. Actual results may differ
materially from those expressed or implied by the forward-looking information.
Factors that could cause actual results to differ materially include, without limitation: risks
associated with the development, scale -up, and commercialization of new or unproven
technologies; the risk that RapidSX™ may not perform at commercial scale as expected; engineering
design changes; inaccuracies in capital or operating cost estimates; cost escalation due to inflation,
supply chain disruption, or market conditions; delays or failures in procurement, construct ion, or
commissioning; the inability to obtain or maintain required permits, approvals, or regulatory
authorizations; challenges in securing adequate financing; adverse capital market conditions;
variability in feedstock supply, quality, or pricing; failure to secure or maintain commercial
relationships, customer qualification, or offtake arrangements; fluctuations and uncertainty in rare
earth oxide prices and demand; the risk that indicative or quoted market prices, including for
ex-China markets, may not be realized; operational risks once in production, including equipment
failures or lower -than-expected recoveries; geopolitical risk; changes in applicable laws or
regulations; environmental or permitting challenges; loss of key personnel; and general economic,
business, or competitive conditions.
Readers are cautioned not to place undue reliance on forward -looking statements. The Company
undertakes no obligation to update forward -looking statements except as required by applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts 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