Ucore Comments on China’s Expanded Rare Earth Export Controls

Halifax, Nova Scotia–(Newsfile Corp. – October 10, 2025) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company“) is pleased to comment on recent reports of China’s expanded rare earth export restrictions, including the addition of refining technology and equipment to the export control list.

The Company confirms that it does not require or intend to use equipment sourced from the People’s Republic of China for its U.S. heavy rare earth separation operations. Ucore’s equipment strategy for the Louisiana Strategic Metals Complex (“LA-SMC”), utilizing RapidSX technology, relies on North American and allied-nation suppliers, insulating the project from the newly announced controls on China-origin equipment and technology.

RapidSX Commercial Demonstration Plant – Kingston, Ontario

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“Today’s expansion of Chinese export controls underscores why Ucore built its plan around North American and allied supply chains from day one,” said Pat Ryan, P.Eng., Chairman & CEO of Ucore. “Our RapidSX refining technology not only produces the same rare earth products, at the same quality, as legacy solvent extraction, but does so with a faster throughput in a much reduced floorspace, resulting in a number of economic and environmental advantages. The majority of the components required for the RapidSX technology, including positive displacement pumps, columns, control valves and piping, are sourced from well established North American industrial supply chains. Automation of the system is achieved with PLC’s and industrial grade computers that are sourced within the United States.”

DPAS Status and Supply Chain Assurance

Equipment and material sourcing is further protected by the project’s Defense Priorities & Allocations System (“DPAS“) Status, as previously reported by the Company. Under DPAS, rated purchase orders must be prioritized by participating suppliers to meet national defense and emergency preparedness requirements. This priority treatment helps de-risk long-lead equipment deliveries such as electrical switch gear for LA-SMC in light of evolving global trade controls.

China’s New Export Controls

China’s new measures expand export controls to five more rare earth elements, as well as some processing equipment and technologies, tightening Beijing’s grip on the sector. Holmium, erbium, thulium, europium and ytterbium have been added to the list, in addition to critical magnet materials samarium, gadolinium, terbium and dysprosium which were added to the list in April of this year along with yttrium, scandium and lutetium. Export control licenses will now be required by foreign companies if they are producing products utilizing Chinese equipment or materials.

Ucore’s ex-China sourcing plan, the ability to build sequential and modular RapidSX machines that target specific rare earth oxides for production, and DPAS-rating are expected to neutralize sourcing risks that could arise from these actions.

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About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this plan includes disrupting the People’s Republic of China’s control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore’s 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA (“Bokan“).

Ucore is listed on the TSXV under the trading symbol “UCU” and in the United States on the OTC Markets’ OTCQX® Best Market under the ticker symbol “UURAF.”

For further information, please visit www.ucore.com.

Forward-Looking Statements

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 business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing 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 or results, and actual results or developments may differ materially from those in forward-looking statements.

Regarding the disclosure in the press release above about the government support for Ucore, the Company has assumed that the applicable projects (including each of the associated milestones) will be completed satisfactorily and in accordance with the respective agreements or letters of intent (as applicable) for such government support. For additional risks and uncertainties regarding the Company, its business activities, its ability to qualify for and receive any additional funding from any U.S. or Canadian government, the CDF and the aforementioned projects (generally), see the risk disclosure in the Company’s MD&A for Q1 2025 (filed on SEDAR+ on May 9, 2025) (www.sedarplus.ca) as well as the risks described below. As noted above, the execution of a Definitive Offtake Agreement will be conditional upon the parties agreeing on commercial terms, among other conditions precedent.

Regarding the disclosure above in the “About Ucore Rare Metals Inc.” section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. (“IMC“), as suppliers for Ucore’s expected future SMCs. Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work required at the CDF and also later prepare a new National Instrument 43-101 technical report that demonstrates that Bokan is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction and eventual commissioning and operations. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX; RapidSX failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

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

Contacts

Mr. Peter Manuel, Ucore Vice President and Chief Financial Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.

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