Ucore Secures Additional US$4.6 Million from U.S. Department of War to Advance Samarium and Gadolinium Refining Expanded RapidSX™ program supports critical defense supply chains amid heightened interest from Washington Ucore announces:
Ucore Secures Additional US$4.6 Million from
U.S. Department of War to Advance Samarium
and Gadolinium Refining
Expanded RapidSX™ program supports critical defense supply chains amid
heightened interest from Washington
Ucore announces:
• Additional US$4.6 million Other Transaction Agreement ("OTA") for expanding the
first RapidSX ™ Enhanced Machine A in Louisiana, bringing the total OTA grant
funding to US$27.0 million
• Expanding samarium and gadolinium process development in Kingston, for
Enhanced Machine A deployment in Louisiana
• Ucore reports heightened interest from Washington on Samarium and Gadolinium
development.
Halifax, Nova Scotia – September 14, 2026 - Ucore Rare Metals Inc. (TSXV: UCU | OTCQX:
UURAF) (“Ucore” or the “Company”) is pleased to report the execution of a US$4.6 million
Other Transaction Agreement (" OTA") Modification from the U.S. Department of War
(“DoW”) to expand its RapidSX ™ rare earth separation program. The additional funding
supports samarium (“ Sm”) and gadolinium (“ Gd”) process development and the
deployment of Enhanced Machine A at Ucore’s planned Louisiana Strategic Metals Complex
(“SMC”) in Alexandria.
This latest award advances work on two materials that the U.S. government has identified as
priorities for strengthening domestic critical mineral supply chains. Ucore is deploying
separation capabilities intended to address those needs as sourcing requirements tighten.
“We are seeing heightened interest from Washington in the role Ucore can play in
securing critical rare earth supplies,” stated Pat Ryan, P .Eng., Chairman and CEO of
Ucore. “We have optimized our commercial equipment configurations, strengthened
our financial position, and now secured additional DoW funding for an expanded
program. The dots are connecting around a clear national need: the ability to separate
the materials that U.S. defense and industrial supply chains depend on.”
A growing priority for defense supply chains
Sm is a key input for samarium-cobalt magnets used in demanding defense and aerospace
applications where magnetic performance at high temperatures is essential. Gd has
specialized coatings, electronics, and nuclear applications, including neutron absorption in
nuclear reactors. Both were identified by the U.S. Geological Survey among the mineral
commodities with the highest supply-chain risks in its 2025 assessment.
China’s April 2025 export controls included samarium - and gadolinium -related metals,
oxides, and compounds. In February 2026, the Defense Industrial Base Consortium
(“DIBC”) issued a U.S. government request for projects addressing domestic production
gaps across 13 critical minerals, including both Sm and Gd. Separation and processing were
among the capabilities specifically sought.
The procurement requirements are also tightening. Effective January 1, 2027, applicable
Defense Federal Acquisition Regulation Supplement (“DFARS”) restrictions for samarium -
cobalt and neodymium -iron-boron magnets extend across their upstream supply chains,
including mining, refining , and separation in covered countries such as China, subject to
specified exceptions and nonavailability determinations. Ucore believes these
requirements increase the importance of qualifying dependable processing sources outside
covered countries.
Ucore’s role is at the separation stage, where mixed rare earth feedstocks must be divided
into individual rare earth oxide products suitable for industrial use or further downstream
processing. Building that capability is a necessary part of connecting mineral supply with
oxide, metal, alloy and/or magnet manufacturing.
Additional funding advances the next stage
The new award increases funding for Phase 2 of Ucore’s Rare Earth Separation Technology
Capabilities Prototype Project from US$18.4 million to US$23.0 million . Including the
original US$4.0 million Phase 1 award , total grant funding under the Company’s OTA with
U.S. Army Contracting Command-Orlando increases to US$27.0 million.
Building Momentum Toward Commercial Deployment
The additional DoW support follows a series of advances across Ucore’s commercialization
program. In June, the Company shipped NdPr oxide qualification samples to major magnet
manufacturers. In July, it announced production of 99.9% dysprosium oxide , which it has
since shipped for customer qualifications . These steps support the development of future
commercial relationships for Ucore’s broader rare earth product platform.
In August, Ucore completed its RapidSX ™ contactor scale-up program following more than
400 optimization tests and closed a public offering raising approximately C$69 million in
gross proceeds. The financing’s net proceeds are intended for Louisiana SMC development,
working capital, and general corporate purposes.
The expanded DoW program connects that technical progress and stronger financial
position to a specific strategic need. Ucore is advancing the separation capabilities intended
to turn reliable feedstock sources into a North American supply of the rare eart h products
manufacturers require.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare -earth 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 Rare Earth Elements (“ 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 Heav y 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, including without limitation
statements with respect to: the progress of development at the Louisiana SMC and any
subsequent SMCs; and future development plans. 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 Company’s Commercialization and Demonstration Facility (“CDF”) and the
aforementioned projects (generally), see the risk disclosure in the Base Shelf Prospectus
and the Prospectus Supplement, and in the continuous disclosure documents filed by the
Company on SEDAR+ ( http://www.sedarplus.ca), including the Company’s annual
information form for the year ended December 31, 2025 (filed on SEDAR+ on June 8, 2026)
and MD&A for Q2-2026 (filed on SEDAR+ on August 26, 2026), 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 technical report in compliance with National Instrument 43-101 – Standards
of Disclosure for Mineral Projects 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 agr eements. 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
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, marke t, and industry conditions, includin g 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 re alized.
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, construction, 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
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