Ucore Comments on Escalating HREE Supply Concerns in US Capitol - Seite 2

The FY 2014 Senate Interior Appropriations Bill is in Continuing Resolution status until January 15, 2014. Senator Murkowski has now added language to the Bill re-iterating the US Forest Service's obligation to provide reasonable access for mining within the Tongass National Forest, of direct benefit to the Bokan project, which houses material quantities CREO's important to defense systems, such as dysprosium and yttrium.

"We're pleased with the ongoing support that the Bokan project continues to receive by federal lawmakers," stated Jim McKenzie, President & CEO of Ucore. "All indicators are that the Bokan facility will be the first and only domestic producer of dysprosium on US soil when on-site production commences, thereby alleviating an issue under increasing attention in Washington."

In October 2012, Ucore announced that the United States Department of Defense (DOD) had contracted with the Company to conduct a mineralogical and metallurgical study at Bokan. The program, managed under the Defense Logistics Agency (DLA) has focused on the prospective development of Bokan, America's highest grade heavy rare earth resource disclosed under NI 43-101 regulations, to meet the requirements of the Department of Defense for an ongoing supply of critical heavy REE's. Under the agreement, Ucore has provided DOD with the most up-to-date data on the Bokan project's mineralogy and proprietary Solid Phase Extraction (SPE) nanotechnology research.

Bokan Mountain is the richest domestic source of three heavy rare earth elements -dysprosium, terbium, and yttrium - which are critical to several advanced weapon systems, such as stealth helicopters and precision-guided weapons. Both dysprosium and yttrium are critical to multiple US defense systems. Dysprosium is a crucial ingredient in neodymium-iron-boron magnets as a means of increasing coercivity, applications of which include aircraft actuator motors in flight control systems, landing gear, and munitions. Yttrium is critical to the defence industry applications such as the manufacture of various ceramic and glass materials required in jet engines. The Joint Strike Fighter (JSF) development program relies on both Dy and Y as critical input components.