I Halifax, Nova Scotia I

“We are pleased for a”Ucore welcomes Ty as a valued new addition to the leadership team. Ty brings to Ucore a wealth of upstream and downstream REE and other critical-materials technology experience. He has served as an effective executive officer and senior advisor for several private and public technology and advanced materials companies – including IMC – in North America, Europe and Australia.”

Pat Ryan

P.Eng., Chairman and Interim CEO

Ucore Rare Metals

Ucore Rare Metals Inc. has embarked on a journey to bolster its management team with the appointments of senior management in addition to the implementation of its MINE to METAL to MARKET plan of strategic actions (the M³ Plan).
With the recent integration of the Company’s acquisition of Innovation Metals Corp. (IMC) and its proprietary RapidSX™ technology for the separation and purification of critical metals, including rare-earth elements (REEs), lithium (Li), nickel (Ni) and cobalt (Co), Ucore is indicated its interest in preparing itself to serve its shareholders as a company that is on the threshold of the first phase of production related to its M3 Plan and associated revenue; and through RapidSX™, potentially expanding into battery-material supply chains, in addition to REEs.

Dr. Kurt Forrester – Vice President, Metallurgy
Ucore has announced the appointment of Chartered Chemical Engineer and Chartered Professional Metallurgist Dr. Kurt Forrester, CEng, MIChemE, MAusIMM(CP) as the Company’s Vice President of Metallurgy.

Dr. Gareth Hatch, CEng, FRSA, FIMMM, FIET, CEO of IMC and CTO and Director of Ucore stated, “Kurt’s impressive skill set, experience and expertise will be instrumental as we commercialize the RapidSX™ separation technology platform for REEs, Li, Ni, Co, et al.; develop the Alaska SMC, and in parallel, progress through the feasibility study for the Bokan-Dotson Ridge Rare Earth Element Project.”

During his 15-year career, Dr. Forrester has been professionally engaged as an engineering consultant in the metals and minerals, environmental and applied-research domains. His work includes process development, feasibility assessment, as well as detailed engineering design. Dr. Forrester has a broad experience base across several commodities including REEs and industrial minerals. A two-time graduate of the University of Sydney, Dr. Forrester holds a BEng degree (First-Class Honours) in Chemical Engineering and a PhD in Engineering.

Ty Dinwoodie – President
Ucore also announced the appointment of Ty Dinwoodie as the new President of Ucore. A senior corporate strategic advisor and marketing professional with an extensive background in market and industry analysis for the global critical-minerals/critical-materials sectors, Mr. Dinwoodie specializes in Li-ion battery materials (Li, Ni, graphite, Co) and REEs – with a particular focus on North American security of supply and downstream transformational installed capacity.

“Ucore welcomes Ty as a valued new addition to the leadership team,” stated Pat Ryan, P.Eng., Ucore Chairman and Interim CEO. “Ty brings to Ucore a wealth of upstream and downstream REE and other critical-materials technology experience. He has served as an effective executive officer and senior advisor for several private and public technology and advanced materials companies – including IMC – in North America, Europe and Australia.”

Previously, Mr. Dinwoodie served as President and Corporate Secretary of TSXV-listed Alabama Graphite Corp. prior to arranging, negotiating and overseeing the company’s acquisition by a NASDAQ-listed company in 2018. He also served as Chief Marketing Officer for additive-manufacturing metal-powders producer Equispheres Inc., where he was instrumental in the company’s founding, development of its business strategy and commercialization of its proprietary atomization technology.

Mr. Dinwoodie is the Chairman of Benchmark Mineral Intelligence’s annual Benchmark Summit in Washington D.C., sits on the Board of Directors of the National Alliance for Advanced Technology Batteries (NAATBatt International) and is an active member of the United States Energy Association (USEA), the American Society of Mechanical Engineers (“ASME”), the Governance Professionals of Canada (“GPC”), the Canadian Investor Relations Institute (CIRI), and the U.S. based National Investor Relations Institute (NIRI). Mr. Dinwoodie studied economics at McMaster University and physics at Laurentian University.

Search for New Permanent CEO
As announced on June 15, 2020, the Company’s Board of Directors is leading a search for a permanent CEO for Ucore, with this process expected to be completed in the coming months.

U.S. REE Supply-Chain Development
“Ucore is highly encouraged by and supportive of recent developments within the U.S. Federal Government (“USG”) to enhance REE development funding within the United States”, said Pat Ryan. “Ucore is in the midst of its strategic plan to establish the core of the U.S. REE supply-chain resurgence through critical separation-technology deployment, the development of the Alaska Strategic Metals Complex (“SMC”), the parallel progression of the Bokan-Dotson Ridge Rare Earth Element Project and the collaboration of significant industry participants through all phases of the REE supply chain. Ucore’s M³ Plan is significantly enhanced by the demonstrated pilot-scale capabilities of IMC’s RapidSX™ technology, with a clear path to commercialization and a formidable business strategy with potentially significant and diverse financing opportunities.”

“The Company is extremely pleased with the USG’s increasing determination to fund and assist with the development of a U.S. based REE supply chain,” added Mike Schrider, P.E., Vice-President & COO of Ucore. “However, although Ucore is actively pursuing USG assistance, the Company is not dependent on prospective USG participation to see the Company’s plans come to fruition. Ucore is privately funding several required precursor initiatives to achieve its stated goals and the Company remains in discussions with the Alaska Industrial Development and Export Authority (“AIDEA”) to include an Alaska-centric solution to U.S. rare earth independence from China.”

Engagement of J.A. Green & Company
Ucore’s efforts in Washington D.C. are spearheaded by the engagement of government-relations firm J.A. Green & Company, led by well-known strategic-materials advocate Jeff Green. Dr. Hatch is an advisor to J.A. Green & Company and has been working with Mr. Green for more than 10 years.

Recently, Mr. Green offered his thoughts to Defense News regarding an unprecedented suggestion by the Pentagon to raise spending limi
ts under the Defense Production Act (“DPA”). The legislative proposal, which was submitted to the U.S. Congress for consideration in the upcoming National Defense Authorization Act for Fiscal Year 2021, would allow the U.S. Department of Defense (“DoD”) to invest up to US$350 million to address each of the five REE supply-chain node shortfalls identified by the five REE Presidential Determinations issued in July 2019. The following is an excerpt from the Defense News article “ Pentagon legislation aims to end dependence on China for rare earth minerals

To me, this is the biggest thing that has happened to rare earths in a decade,” Jeffery Green, a defense industry consultant and advocate for government intervention on rare earth materials, said Monday. “The policy shift is the government realizing they have to put serious bucks into this.”

Mr. Dinwoodie stated, “With the recent acquisition of IMC, the RapidSX™ technology, the Company’s enhanced management team, the closing of our recent fully subscribed $2.8 million financing, and its burgeoning relationships with major strategic partners, Ucore has uniquely positioned itself to build an independent U.S. REE supply chain. We look forward to updating our investors and stakeholders on multiple technical and business-development initiatives over the coming weeks and months.”

About Ucore Rare Metals Inc.
Ucore is focused on rare and critical metals resources, extraction and beneficiation technologies with potential for production, growth, and scalability. The Company has a 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Project. Ucore’s vision and plan is to transition to become a leading advanced technology company that provides mineral separation products and services to the mining and mineral extraction industry. This vision includes the development of the Alaska SMC in Southeast Alaska and the development of the Company’s rare earth minerals property located at Bokan Mountain in Alaska.

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