Press Release

Ucore Accepts Additional Proceeds
for a Total of CAD $1.24 M

June 28, 2018 – HALIFAX, NOVA SCOTIA – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) is pleased to announce that further to its news release dated June 20, 2018, the Company has now accepted additional proceeds in relation to the Company’s previously announced non-brokered private placement (the “Private Placement”) by issuing an additional 555,555 units (“Units”) at a subscription price of $0.18 per Unit for gross proceeds of approximately $100,000.

Each Unit consists of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire an additional Common Share at an exercise price of $0.25 until June 28, 2021.

The Company announced on June 20, 2018 that it was not accepting any further investment at that time, however, due to further shareholder interest in addition to the potential Control Person discussed in that press release, the Company decided to accepted this investment opportunity as part of the previously announced Private Placement (see press releases on May 23, and June 11, 2018).

In total, the Private Placement has generated aggregate proceeds of approximately $1,242,000 and resulted in the issue of an aggregate of 6,899,629 Units. The Company can now confirm that this Private Placement is fully closed and will not be accepting any additional proceeds at this time.

“This was a very limited bridge financing to underwrite advanced engineering work on our Alaska based SMC facility,” said Jim McKenzie, President & CEO of Ucore. “Demand has exceeded the proceeds accepted, and we’re busying ourselves with the application of funding towards a very aggressive design/build process in Ketchikan.”

Pursuant to applicable Canadian securities laws, all securities issued pursuant to this final Tranche are subject to, among other things, a statutory hold period of four months and one day, which expires on October 28, 2018. The Private Placement remains subject to the final approval of the TSX-V.


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 <>.

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 expected insider participation, the completion of the Private Placement, the anticipated timing of closing of the Private Placement and the use of proceeds therefrom, 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, the trading price of the Common Shares, the TSX-V not providing its final approval for the Private Placement, and general economic, market or business conditions.

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units, Common Shares or Warrants (collectively, the “Securities”) in the United States or to, or for the account or benefit of, any U.S. person. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, any U.S. person unless an exemption from such registration requirements is available. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.