Apr5/22 News ReleaseCanada Rare Earth Commences Shipments under a Five Year Contract for Rare Earth Concentrates April 5, 2022 VANCOUVER, BRITISH COLUMBIA - Canada Rare Earth Corp. ("Canada Rare Earth" or the "Company") (TSX.V: LL) is pleased to announce the first shipment of rare earth concentrate from a new supplier is in transit to its customer base. This is the initial shipment of a minimum of 60 shipments anticipated over the five-year period. The contract, signed 3 September 2021, calls for a total quantity of 18,000 metric tons over a five year period, however, the Company and the supplier are working together to increase this quantity through larger and more frequent shipments. Peter Shearing, COO of Canada Rare Earth commented, We are very excited about this initial shipment as the start of a multi-year successful relationship. We are confident that together with the supplier we will build the shipments up to much higher quantities to help satisfy our customer demand. Canada Rare Earths strategy calls for growing its supply base of rare earth and critical minerals through proprietary properties and various third-party arrangements. The Company views this particular contract as an important component of our efforts to diversify our concentrate sources as it will augment supply from our proprietary properties such as the Bom Futuro tailings stockpile in Brazil which is presently under development.