Halifax, Nova Scotia–(Newsfile Corp. – October 10, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to comment on recent reports of China’s expanded export restrictions on rare earths, including the addition of refining technologies and equipment to the export control list.
The Company confirms that it does not require or intend to use any equipment from the People’s Republic of China for its heavy rare earth separation activities in the United States. Ucore’s equipment strategy for the Louisiana Strategic Metals Complex (“LA-SMC”), which utilizes RapidSX™ technology, relies on suppliers from North America and allied countries, thereby exempting the project from the newly announced controls on equipment and technology from China.
RapidSX™ Demonstration Plant – Kingston, Ontario
A high-resolution version of this graphic can be found at:
https://images.newsfilecorp.com/files/1119/269965_e6f11bb5e4503826_002full.jpg
“Today’s expansion of Chinese export controls underscores why Ucore has focused its plan on North American and allied supply chains from the outset,” said Pat Ryan, P.Eng., Chairman and CEO of Ucore. “Our RapidSX™ refining technology not only produces the same rare earth products with the same quality as conventional solvent extraction, but it does so with faster throughput on a much smaller footprint, resulting in a number of economic and environmental benefits. Most of the components required for RapidSX™ technology, including displacement pumps, columns, control valves, and piping, are sourced from established North American industrial supply chains. The system’s automation is achieved through PLC controls and industrial computers sourced from the United States.”
DPAS Status and Supply Chain Security
Equipment and material procurement is further protected by the project’s Defense Priorities & Allocations System (“DPAS”) status, as previously reported by the Company. Under DPAS, rated orders must be prioritized by participating suppliers to meet the requirements of national defense and emergency preparedness. This priority treatment helps mitigate the risk of long lead-time deliveries, such as electrical switchgear for LA-SMC, in light of evolving global trade controls.
China’s New Export Controls
China’s new measures expand export controls to five additional rare earth elements, as well as some processing equipment and technologies, tightening Beijing’s control over the sector. Holmium, erbium, thulium, europium, and ytterbium have been added to the list, in addition to the critical magnetic materials samarium, gadolinium, terbium, and dysprosium, which were added to the list in April of this year, along with yttrium, scandium, and lutetium. Foreign companies now require export permits if they manufacture products using Chinese equipment or materials.
Ucore’s plan to source outside of China, the ability to build sequential and modular RapidSX™ machines geared toward the production of specific rare earth oxides, and the DPAS rating should neutralize procurement risks that may arise from these measures.
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About Ucore Rare Metals Inc.
Ucore focuses on resources, extraction, processing, and separation technologies for rare and critical metals with the potential for production, growth, and scalability. Ucore’s vision and plan is to become a leading advanced technology company that offers the mining and mineral extraction industry first-class metal separation products and services.
Through strategic partnerships, this plan includes lifting the People’s Republic of China’s control over the North American REE supply chain by establishing a processing plant for heavy and light rare earths in the US state of Louisiana in the short term, subsequent SMCs in Canada and Alaska, and the longer-term development of the 100% Ucore-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 more information, please visit www.ucore.com.
Forward-Looking Statements
This press release contains certain statements that may be considered “forward-looking statements.” All statements in this press release (other than statements of historical facts) that relate to future business development, technological developments, and/or acquisition activities (including any related required financing), timelines, events, or developments that the Company pursues are forward-looking statements. Although the Company believes that 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 the forward-looking statements.
With respect to the disclosure in the above press release regarding government support for Ucore, the Company has assumed that the relevant projects (including all related milestones) will be completed satisfactorily and in accordance with the respective agreements or letters of intent (if applicable) for such government support. Further risks and uncertainties relating to the Company, its operations, its ability to qualify for and obtain additional funding from the U.S. or Canadian government, the CDF, and the aforementioned projects (in general) can be found in the Risk Disclosure in the Company’s MD&A for the first quarter of 2025 (filed with SEDAR+ on May 9, 2025) (www.sedarplus.ca) as well as the risks described below. As mentioned above, the conclusion of a definitive acceptance agreement depends, among other things, on the parties agreeing on the commercial terms.
With respect to the above disclosure in the “About Ucore Rare Metals Inc.” section, the Company has assumed that it can attract or retain additional partners and/or suppliers as suppliers for Ucore’s expected future SMCs in addition to Innovation Metals Corp. (“IMC”). Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work at the CDF and later to prepare a new technical report in accordance with National Instrument 43-101 demonstrating that Bokan is profitable and economically viable for the production of rare earth metals and by-products, and indicating the then applicable market prices based on assumed acceptance agreements with customers. Ucore has also assumed that sufficient external funding can be secured to continue the development of the specific technical plans for the SMCs and their construction, as well as their subsequent commissioning and operation. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: IMC cannot protect its intellectual property rights in RapidSX™; RapidSX™ cannot demonstrate its economic viability in large commercial applications; Ucore is unable to attract additional key partners or suppliers for the SMCs; Ucore is unable to raise sufficient funds to finance the specific planning and construction of the SMCs and/or the further development of RapidSX™; unfavorable capital market conditions; unexpected results of due diligence; the emergence of alternative, superior metallurgy and metal separation technologies; the inability of Ucore and/or IMC to retain key employees; a change in legislation in Louisiana or Alaska and/or support from the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of required intermediate and/or long-term financing; as well as general economic, market-related or business conditions.
Neither TSXV nor its Regulation Services Provider (as that term is defined by TSXV) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Mr. Peter Manuel, Vice President and Chief Financial Officer of Ucore, is responsible for the content of this press release and can be contacted at 1.902.482.5214.
For further information, please contact:
Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
1.902.482.5214
mark@ucore.com
