HALIFAX, Nova Scotia, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Ucore Rare Metals Inc. (TSXV:UCU)
(OTCQX:UURAF) (“Ucore” or the “Company”) is pleased to report that representatives of the Company attended and
actively participated in the recent US Forest Service (“USFS”) Roundtable Discussion (“Roundtable”) held on February 24, 2018,
at the Ketchikan Public Library.
The one-day event, hosted and chaired by Senator Lisa Murkowski, was organized to solicit input from local
stakeholders and to gain a greater understanding of the forest management challenges faced by communities in the Tongass National
Forest (the “Tongass”), the nation’s largest national forest for the benefit of USFS Chief Tony Tooke.
Randy MacGillivray, Ucore’s VP of Project Development, represented the Company as a panel member in the
Roundtable interactions. Also in attendance was Ucore Advisory Board member Randy Johnson, of Orca Holdings, LLC. The Ucore
contingent participated in order to obtain ongoing stakeholder input and feedback, focusing on opportunities to improve access to
the Tongass and build a diverse and broad-based economy in southeast Alaska, and in support of U.S. Sen. Lisa Murkowski’s efforts
to ensure sustainable access to and development of mineral resources in Southeast Alaska.
Ucore recently announced the selection of Ketchikan as the location for the Company’s forthcoming U.S. Strategic
Metals Complex (SMC) (see Ucore Press Release dated January 30, 2018). The SMC is being developed for the purpose of processing
rare earth containing concentrates to coincide with the increasing demand for electric vehicles and the need to provide a domestic
supply of individual REE oxides for US commercial and military technologies. Feedstock from locations in the continental US, South
America, Africa, Asia, and Australia are under consideration. The Ketchikan SMC will also serve as the separation plant for REEs
mined from the Bokan project into individual saleable rare earth oxides once the development of the mine project is realized.
“We’re committed to the continued pursuit of development required to advance the Bokan – Dotson Ridge Rare Earth
Project on Prince of Wales Island,” said Randy MacGillivray. “We appreciate the invitation to participate in this important
dialogue with the Chief of the Forest Service due to the fact that the USFS will be the lead agency during the permitting process
to bring Bokan online. Further, our recent selection of Ketchikan as our targeted site for the Strategic Metals Separation Complex
will serve as the first step to ensuring that saleable rare earth oxide products can ultimately be produced locally from rare earth
ore concentrate.”
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 regarding the Bokan – Dotson Ridge Rare Earth Project, please contact: Randy
MacGillivray: randy@ucore.com; 604.842.9802
Cautionary Notes
This press release includes certain statements that may be deemed “forward-looking statements”. All statements
in this release, other than statements of historical facts, that address future exploration drilling, exploration activities,
research and development timelines, and events or developments that the Company expects, are forward looking statements. Although
the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements
include exploitation and exploration successes or setbacks, research and develop successes or setbacks, continued availability of
financing, and general economic, market or business conditions.
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.
