• This phase 2 award builds on phase 1 success, during which Ucore successfully separated two heavy rare earths critical for defense applications.
• RapidSX offers a U.S. government-backed alternative to traditional vat-based solvent extraction technology, which is dominated by Chinese refiners. 
• Ucore plans to achieve full mechanical completion of the Louisiana-based SMC by the second half of 2026.

In a bold step toward reshoring critical mineral processing, Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF) has received an $18.4 million phase 2 award from the U.S. Department of Defense (“DoD”) to accelerate the engineering, procurement and site work for its Louisiana Strategic Metals Complex (“LA SMC”), reinforcing its leadership in domestic heavy rare earth element (“HREE”) supply (https://ibn.fm/OTvbq). Ucore’s RapidSX(TM) column-based solvent extraction platform, already proven under phase 1 funding, is central to the company’s mission to break reliance on China-controlled legacy REE separation methods.

The phase 2 award expands an earlier $4 million phase 1 demonstration project and supports detailed engineering, long-lead equipment procurement and early-stage construction at the LA SMC in Alexandria, Louisiana. This award builds on phase 1 success, during which Ucore successfully separated terbium (Tb) and dysprosium (Dy) — two heavy rare earths critical for permanent magnets and defense applications — with phase 1 payments totaling more than $3.35 million to date (https://ibn.fm/RxJ1W). Phase 2 is intended to scale RapidSX to commercial readiness and position Ucore for mechanical completion of the facility in late 2026 with minimal equity dilution.

RapidSX offers a U.S. government-backed alternative to traditional vat-based solvent extraction technology, which is dominated by Chinese refiners. Unlike legacy processing methods, RapidSX enables nearly tenfold faster separation of rare earth elements and requires only one-third of the physical footprint, significantly improving cost-effectiveness and scalability. The phase 2 award formally confirms U.S. government validation of RapidSX as a secure, high-efficiency pathway to HREE independence.

In addition, the phase 2 funding signals confidence from the DoD in Ucore’s ability to deliver a domestic heavy REE source that meets strategic demand. It sends a strong message to original equipment manufacturers (“OEMs”) in sectors such as defense, electric vehicles, clean energy and AI hardware that a reliable North American supply chain for terbium and dysprosium is increasingly viable. RapidSX’s ability to produce these materials at commercial scale aligns directly with growing demand across high-tech and defense supply chains.

Ucore’s engineering-focused approach and DoD support not only accelerate its roadmap toward full-scale production but also minimize shareholder dilution. By leveraging fixed-price contract funding rather than raising equity, Ucore retains strong balance sheet discipline and positions the Louisiana facility for rapid commissioning with limited capital risk. This financial structure heightens confidence among institutional investors that Ucore can execute its strategy without needing to issue significant new shares.

Looking forward, Ucore aims to achieve full mechanical completion of the Louisiana-based SMC by the second half of 2026, at which point early production of salable rare earth elements will commence. With scaled RapidSX operations, the company plans to demonstrate commercial readiness and begin delivering separated heavy rare earth oxides such as terbium and dysprosium. This progress not only strengthens the U.S. rare earth supply chain but also offers investors a rare convergence of technological innovation, national security alignment and scalable infrastructure investment opportunities.

For more information, visit www.Ucore.com.

NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF

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