Canada Rare Earth Corp V.LL

NOV 30 NR

[kingscorpion]

November 30, 2020 Rare Earth Prices are Firming and Trending Upwards Market Commentary Vancouver, British Columbia: Canada Rare Earth Corp. (Canada Rare Earth or the Company) (TSX.V: LL) observes strong market fundamentals for rare earths. Peter Shearing, Chief Operating Officer of Canada Rare Earth stated, Driven in large measure by the increasing demand for rare earths in cleantech applications such as electric vehicles, wind power and electronics the prices of rare earths are trending upwards. We foresee ongoing and sustained increases in demand that is causing a supply deficit for some rare earths. This is particularly evident in the international marketplace (rest of world outside of China ROW) where we are focusing our concentrate sourcing, production and refinery initiatives. The market for rare earth materials formed a solid base in 2020 and the market is seeing price increases reflecting this base. The potential for increased prices is as potentially strong as it was in 2011 when prices increased 10 to 40 times due to geo-political tensions. Tracy A. Moore, Chief Executive Officer of Canada Rare Earth remarked, We are planning for price increases in the short, medium and longer term although not to 2011 levels. If achieved, these projected price increases bode well for rare earth refineries including the refineries we are in the process of permitting, negotiating to purchase and developing (CREC Refineries). The CREC Refineries are capable of separating the entire spectrum of commercially traded rare earths including the high-profile elements neodymium (Nd), praseodymium (Pr) and, uniquely in the ROW, dysprosium (Dy) and terbium (Tb). There can be no assurance that prices will continue to maintain their levels or increase or that the Company will be successful in completing the acquisition and/or development of refineries. About Canada Rare Earth Corp. Canada Rare Earth is developing an international supply network based on proprietary, affiliated and third-party mineral sources and existing, developing and planned processing facilities. We are generating revenues and gross profits from the sale of rare earths and connected mineral products. On behalf of the Board Tracy A. Moore, CEO and Peter Shearing, COO Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking statements in this release are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties. For more information on the Company, interested parties should review the Company's filings that are available atwww.sedar.com. FOR FURTHER INFORMATION PLEASE CONTACT: Tracy A. Moore Chief Executive Officer [e-mail] Shearing Chief Operating Officer [e-mail]:[phone] Website:www.canadarareearth.com Canada Rare Earth Corporation 15th floor - 1040 West Georgia St

[kingscorpion]

China controls 90% of rare earth and with the on going pandemic that some suggests may continue into next year spring time the rare earth metal prices may actually go higher than the previous peak that was seen several years ago. I mean if the rest of the world is left with 10% of rare earth and China has dramatically restricted sales of these rare earth metals to rest of the world then it makes