Ucore Executes Supply Agreement with Critical Metals Corp.
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Ucore Executes Supply Agreement
with Critical Metals Corp.
Halifax, Nova Scotia August 26, 2025 – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX:
UURAF) (“Ucore” or the “Company”) is pleased to announce the execution of a Non-binding
Letter of Intent (“LOI”) with Critical Metals Corp. (NASDAQ: CRML) (“CMC”) for a long-term
offtake agreement to secure heavy rare earth element feedstock from CMC’s Tanbreez
Project in southern Greenland.
Under the terms of the proposed arrangement, Critical Metals Corp. intends to supply Ucore
with a rare earth product from Tanbreez over an initial 10-year term. This material will be used
as feedstock for Ucore’s Strategic Metals Complex (SMC) in Alexandria, Louisiana, a facility
supported by both the U.S. Department of Defense and the State of Louisiana. Smaller
volumes will initially be processed at Ucore’s Commercial Demonstration Facility (“CDF”) in
Kingston, Ontario.
“Critical Metals Corp’s Tanbreez offers tremendous opportunities for Ucore given the
significant concentration of heavy rare earths it contains, which are essential for the
production of rare earth permanent magnets,” said Pat Ryan, Chairman and CEO of Ucore.
“Both Critical Metals Corp and Ucore share a vision to lessen China’s grip of the rare earth
ecosystem in the West, and we look forward to our partnership, positioning us both to meet
the growing demand for rare earths while addressing national security challenges.”
“Ucore’s refining capabilities, together with feedstock from the Tanbreez project, has the
potential to fill key gaps in the western rare earth supply chain ,” said Tony Sage, CEO and
Executive Chairman of Critical Metals Corp. “ These materials are critical to a number of
western defense and consumer applications and we look forward to teaming up with Ucore
and their exceptional team to support the development of a robust supply chain in America
that isn’t reliant on China.”
The non-binding LOI sets out the parties ’ intentions to negotiate and execute a Definitive
Offtake Agreement. Terms of the LOI include the delivery of a mixed rare earth carbonate or
oxide, with specifications to be agreed to, over a multi-year term commencing on the later of
July 1, 2027 or commercial production. The execution of a Definitive Offtake Agreement
remains subject to customary conditions including completion of due diligence, finalization of
commercial terms, and necessary approvals.
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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-
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Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA
(“Bokan”).
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 tha t 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 government support for Ucore,
the Company has assumed that the applicable projects (including each of the associated
milestones) will be completed satisfactorily and in accordance with the respective agreements
or letters of intent (as applicable) for such government support. For additional risks and
uncertainties regarding the Company , its business activities , its ability to qualify for and
receive any additional funding from any U.S. or Canadia n government, the CDF and the
aforementioned projects (generally), see the risk disclosure in the Company’s MD&A for Q1
2025 (filed on SEDAR+ on May 9, 2025) (www.sedarplus.ca) as well as the risks described
below. As noted above, the execution of a Definitive Offtake Agreement will be conditional
upon the parties agreeing on commercial terms, among other conditions precedent.
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 SMCs.
Ucore has also assumed that sufficient external funding will be found to continue and
complete the ongoing research and development work required at the CDF and also later
prepare a new National Instrument 43 -101 technical report that demonstrates that 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 and eventual
commissioning and operations . 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 Industrial Development a nd 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