Ucore Provides Operational Update on Bokan - Dotson Ridge Project

HALIFAX, NOVA SCOTIA--(Marketwired - July 23, 2014) - Ucore Rare Metals Inc (TSX VENTURE:UCU) (OTCQX:UURAF) ("Ucore" or "the Company") is pleased to provide the following update on operational activities in progress on the Bokan - Dotson Ridge Project in South East Alaska (Bokan).

Ucore has contracted with SRK Consulting of Vancouver, BC, to compile baseline data and qualitative results from ongoing engineering studies to produce a formal Plan of Operations (PoO) for the Bokan Project. The PoO will be submitted to the United States Forest Service to facilitate delivery of an Environmental Impact Statement (EIS) and initiate the review process set out in the National Environmental Policy Act (NEPA).

The collection of baseline water samples, commenced in 2012, continues on site. A meteorological station is under construction to collect weather data required for the permitting process. Representative samples of drill core have been selected to initiate kinetic testing required to support state and federal permitting initiatives. Barrel tests containing samples of sorted rock have been installed on site in order to assess water quality runoff for the planned Rock Management Facility (RMF). The RMF will contain rock rejected from the X-Ray sorting equipment planned for the Bokan operation (see Ucore press releases: June 25, 2013 and March 6, 2012).

Ucore additionally reports that two drills are now in operation at the site. The smaller of the two rigs is committed to infill drilling for the purpose of upgrading the existing Inferred resource to the Indicated category under NI 43-101 guidelines. The larger of the two rigs will drill multiple deep holes with the goal of expanding the existing Bokan-Dotson Ridge resource at further depth. The larger rig will additionally drill a number of geotech holes and groundwater monitoring wells to obtain supplementary data for use in the engineering and permitting of the project. The comprehensive field program, including all sampling, testing and drill work is being supervised by Project Manager Jim Robinson, P. Geo., of Aurora Geosciences, Juneau, Alaska.

In addition to the aforementioned field work, metallurgical test work is now underway at Hazen Research of Denver, Colorado. This testing has the objective of optimizing the process flowsheet already set out in Ucore's Preliminary Economic Assessment (see Ucore press release dated January 15, 2013). The finalized flowsheet will form the basis of the Bokan pilot plant scheduled for later this year. The results of the pilot plant testing, together with the above noted drill program, will be incorporated into the Bokan Feasibility Study, scheduled for delivery in 2015.