Equity Financing TSX Venture OTC Nova Scotia Alaska Rare Earth Elements

Ucore Rare Metals announces $1.44M private placement

News Release

Ucore Announces Non-Brokered Private Placement Financing

May 23, 2018 – HALIFAX, NOVA SCOTIA – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to announce that it is conducting a non-brokered private placement of up to 8,000,000 units at $0.18 per unit, for total potential proceeds of $1,440,000 (the “Private Placement”). Each unit consists of one common share and one common share purchase warrant. Each warrant gives the holder the right to purchase one common share at an exercise price of $0.25 for a period of 36 months.

The net proceeds from the financing will be used for general corporate purposes.

The Company expects that certain Insiders of the Company will subscribe for a portion of the Private Placement and that, as such, the Private Placement will constitute a Related Party Transaction. Details of amounts subscribed for by Related Parties will be disclosed once finalized. The Company expects that the Private Placement will be exempt from formal valuation and shareholder approval requirements contained in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions as the fair market value of the consideration involved is not expected to exceed 25% of the market capitalization of the Company. A description of the effect of the voting interests of Related Parties will be disclosed once finalized.

The closing of the Private Placement is subject to certain conditions, including, but not limited to the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Background

Ucore Rare Metals is a development-phase company focused on rare metals resources, extraction and beneficiation technologies. The Company has a 100% ownership stake in the Bokan project. On March 31, 2014, Ucore announced the unanimous support of the Alaska State Legislature for the investment of up to USD $145 Million in the Bokan project at the discretion of the Alaska Import Development and Export Agency (“AIDEA”).

For further information, please contact Mr. Jim McKenzie, President and Chief Executive Officer of Ucore Rare Metals Inc. at: +1 (902) 482-5214 or visit .

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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