Ucore produces 99.5% NdPr from multiple sources via RapidSX

Ucore announces:

It has produced 99.5% NdPr sample material from two different feedstock sources (ionic clay and bastnaesite) at its Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario, for ongoing and planned customer qualifications

NdPr is a fundamental product of most rare earth processing facilities, and on a scale of tonnes, Ucore has now demonstrated the ability to create 99.5% material from multiple sources with widely varying rare earth element compositions

Halifax, Nova Scotia--(Newsfile Corp. - August 20, 2026) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (" Ucore " or the " Company ") is pleased to announce that it has produced 99.5% NdPr from a second feedstock source at its Commercialization and Demonstration Facility (" CDF ") in Kingston, Ontario, for ongoing and planned customer qualifications:

The first batch of 99.5% NdPr material was processed from approximately two tonnes of Vietnamese mixed rare earth oxide (" MREO ") derived from ionic clay source material and sent to Western NdFeB magnet makers for product testing in Q2-2026;

The second batch of 99.5% NdPr material was produced in early August 2026 and was processed from approximately five tonnes of mixed rare earth carbonate (" MREC ") derived from North American bastnaesite source material.

Ucore continues to demonstrate the versatility and adaptiveness of its RapidSX™ technology platform in the simulated commercial environment of its Kingston CDF. NdPr is a fundamental product of most rare earth processing facilities. It will be a featured product along with samarium (Sm), gadolinium (Gd), terbium (Tb), dysprosium (Dy), and eventually yttrium (Y) within the developing Louisiana Strategic Metals complex (" SMC "). On a tonnes-of-processing scale, the Company has now demonstrated the production of 99.5% NdPr material from multiple sources with widely varying rare earth element (" REE ") compositions.

The 7,400+ hours of simulated commercial runtime and corresponding commercial scale-up work at the CDF have demonstrated the potential of the computerized and patent-pending RapidSX™ technology platform for full-scale REE processing. The chemistry of RapidSX TM is the same as that of conventional solvent extraction. As a result, as demonstrated in over 16,000 comparative test results, RapidSX TM typically yields recovery rates and target product purities equal to, or better than conventional solvent extraction; the only difference being faster processing throughput and a smaller equipment footprint for the same processing capacity. Together, these attributes have the potential to create multiple opportunities for commercial savings and efficiencies, which Ucore is incorporating into its developing Louisiana SMC.

Figure 1 - The RapidSX™ Demo Plant Machine at the Kingston CDF

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1119/310605_b375ac6964164b8e_002full.jpg

" Ucore is executing a very deliberate plan for the development of its first RapidSX™ production 'Machine A' at the Louisiana SMC ," stated Mike Schrider, P.E., Ucore's Vice President and Chief Operating Officer. " The work done at the CDF directly supports and validates the SMC engineering program while simultaneously demonstrating the effectiveness of the technology platform. Our work in Kingston will continue to serve as a co-commissioning, technology development and training center to support and de-risk our commercial endeavors."

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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, Ucore aims to support the development of a more diversified and resilient 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 contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. 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, products to be produced at the Louisiana SMC, 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.

Forward-looking statements in this release include, without limitation, statements regarding the development or execution of definitive supply, offtake agreements or other commercial agreements; the acceptability of rare earth oxide samples to magnet makers and other end users of product; the ability to provide high-purity materials or on-spec product to customers on an on-going basis; and the acceptability of the referenced samples to potential customers.

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 Q1-2026 (filed on SEDAR+ on May 29, 2026) ( www.sedarplus.ca ) as well as the risks described below.

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 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 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.

Forward-looking statements are based on a number of material assumptions, including, without limitation: the successful completion and accuracy of baseline, front-end-engineering design and detailed engineering studies; the ability to complete further engineering, procurement, and construction activities as currently contemplated; the availability, cost, and timely delivery of equipment, materials, utilities, labour and construction services; the Company's ability to secure sufficient financing on acceptable terms; the receipt and timing of all required permits and approvals; the successful scale-up and commercial deployment of RapidSX™ technology from demonstration to commercial operation; the availability of qualified feedstock from third-party suppliers; successful customer qualification and offtake discussions; continued support from governmental partners; and general economic, market, and industry conditions, including assumptions regarding rare earth oxide prices, which are subject to significant volatility..

Although the Company believes that the assumptions underlying the forward-looking information are reasonable, there can be no assurance that such assumptions will prove to be accurate or that the anticipated results, performance, or achievements will be realized. Actual results may differ materially from those expressed or implied by the forward-looking information.

Factors that could cause actual results to differ materially include, without limitation: risks associated with the development, scale-up, and commercialization of new or unproven technologies; the risk that RapidSX™ may not perform at commercial scale as expected; engineering design changes; inaccuracies in capital or operating cost estimates; cost escalation due to inflation, supply chain disruption, or market conditions; delays or failures in procurement, construction, or commissioning; the inability to obtain or maintain required permits, approvals, or regulatory authorizations; challenges in securing adequate financing; adverse capital market conditions; variability in feedstock supply, quality, or pricing; failure to secure or maintain commercial relationships, customer qualification, or offtake arrangements; fluctuations and uncertainty in rare earth oxide prices and demand; the risk that indicative or quoted market prices, including for ex-China markets, may not be realized; operational risks once in production, including equipment failures or lower-than-expected recoveries; geopolitical risk; changes in applicable laws or regulations; environmental or permitting challenges; loss of key personnel; and general economic, business, or competitive 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

Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer , is responsible for the content of this news release and may be contacted at 1.902.482.5214.

For additional information, please contact:

Mark MacDonald Vice President, Investor Relations Ucore Rare Metals Inc. 1.902.482.5214 mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310605

TMX Newsfile

August 20, 2026 - 6:40 AM PDT

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