Ucore Receives a Crucial DPAS-Rated Long Lead Equipment Component at the Louisiana SMC

Halifax, April 16, 2026 - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the arrival of a crucial piece of long-lead-time equipment at its Louisiana Strategic Metals Complex ("LA-SMC") in Alexandria, LA. The equipment was procured under the Company's US$22.4 million modified funding agreement with the US Army Contracting Command-Orlando and associated Defense Priorities & Allocations System ("DPAS") Rating. The equipment is a GMM Pfaudler US Inc. 4,000-gallon jacketed glass-lined reactor designed to leach a wide variety of planned Western mixed rare earth oxides ("MREO") and mixed rare earth carbonates ("MREC") to be received at the LA-SMC.

Figure 1 - A 4,000 Gallon Pfaulder Leaching Reactor Arriving at the Louisiana SMC

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Ucore presented its DPAS DO-B8 rating in a September 19, 2025, news release and noted that a DPAS rating imposes legal obligations on equipment suppliers, requiring that fulfillment of any LA-SMC order be given preferential treatment over unrated orders to meet national defense and emergency preparedness requirements.

The offloading and placement of the Reactor within the LA-SMC was successfully coordinated by Ucore's selected LA-SMC construction management contractor, Ratcliff Construction of Alexandria, LA. A section of the end wall was removed and replaced to facilitate the placement of the reactor within the building.

"The arrival of this major piece of equipment is a significant milestone for the Ucore Team as we stay laser-focused on establishing commercial rare earth processing in Louisiana," stated Mike Schrider, P.E., Ucore Vice President and Chief Operating Officer. "Ucore is conducting a coordinated knowledge transfer of its RapidSX™ technology platform and ancillary processing systems from its Commercialization and Demonstration Facility [CDF] in Kingston, Ontario, to the LA-SMC. This effort will continue throughout 2026, with the installation of one RapidSX™ Machine scheduled for commissioning and product qualification trials in H1-2027."

Coordinated CDF to LA-SMC activities include:

• Anticipated LA-SMC feedstock testing and separation trials at the CDF
• Factory Acceptance Testing ("FAT") of the RapidSX™ Commercial Scale Equipment Platform at the CDF
• LA-SMC Engineering, Procurement, and Construction ("EPC") personnel familiarization, design, procurement, construction, and/or testing of the CDF equipment and processes
• LA-SMC personnel training at the CDF

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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 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 Q4-2025 (filed on SEDAR+ on March 18, 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, 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. 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.

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