Ucore Rare Metals and Sumitomo Corporation of Americas Announce Strategic Collaboration in Rare Earth Supply Chain
Ucore Rare Metals and Sumitomo Corporation of
Americas Announce Strategic Collaboration in
Rare Earth Supply Chain
Halifax, Nova Scotia, June 15, 2026 - Ucore Rare Metals Inc. (TSXV: UCU | OTCQX:
UURAF) (“ Ucore” or the “ Company”) is pleased to announce a strategic cooperation
framework with Sumitomo Corporation of Americas (“SCOA”) to support the development
of a diversified rare earth supply chain across North America and allied markets.
Under the Agreement, signed on June 10, 2026, the companies will collaborate on sourcing
rare earth feedstock for Ucore’s Louisiana Strategic Metals Complex (SMC) and downstream
offtake development for separated rare earth products. The focus is on selected middle and
heavy rare earth elements critical to high-performance magnets and advanced materials
applications primarily in Japan while preserving feedstock for additional processing for North
American and allied markets.
The collaboration is intended to combine Ucore’s developing RapidSX™ technology platform
at its Louisiana (“SMC”) rare earth refinery with SCOA’s global sourcing, logistics, and market
access capabilities, including in Japan, as the parties work to support more diversified rare
earth supply chains. Furthermore, the companies intend to formally cooperate as project
partners in Ucore’s previously announced Global Partnership Initiative with the Government
of Canada.
Ucore is advancing its rare earth processing platform in North America, including the
development of its planned SMC in Louisiana and continued commercial demonstration with
the Government of Canada. SCOA has longstanding experience in the global rare earth
industry, including sourcing, trading, and supply chain development.
As part of the framework, SCOA will serve as Ucore’s distribution partner for designated
separated rare earth products sold to selected customer segments in Japan and other
mutually agreed industrial applications.
The companies will work together to explore opportunities for cooperation across the rare
earth value chain, subject to mutually agreed commercial terms and existing business
arrangements.
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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, Ucore aims to support the development of a more diversified
and resilient 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
(“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 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 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.
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 Canadian government, the
CDF and the aforementioned projects (generally), see the risk disclosure in the Company’s
MD&A for Q1-2026 (filed on SEDAR+ on May 29, 2026) ( 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 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.
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 engi neering,
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 acceptabl e 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, marke t,
and industry conditions, including assumptions regarding rare earth oxide prices, which are
subject to significant volatility..
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.
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. Peter Manuel, Ucore Vice President and Chief Financial 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