Ucore Secures Rights to SuperLig(R) Molecular Recognition Technology for Rare Earth Recycling and Tailings Processing Applications

HALIFAX, NOVA SCOTIA--(Marketwired - March 3, 2015) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or "the Company") is pleased to announce that it has entered into an agreement with IBC Advanced Technologies Inc. ("IBC") to acquire the exclusive rights to IBC's SuperLig® Molecular Recognition Technology ("SuperLig®" or "MRT") for rare earth separation and recycling applications, in addition to tailings processing applications.

Under the terms of the license agreement (the "Agreement"), Ucore has agreed to pay a one-time licensing fee to IBC in the amount of USD $2.9 million (the "Licensing Fee"). The payment is subject to the delivery by IBC of a fully operational rare earth SuperLig® pilot plant ("Pilot Plant") and due diligence review by Ucore. The Pilot Plant will be constructed at SepraMet, IBC's wholly owned subsidiary in Houston, Texas.

Under the terms of the Agreement, upon the satisfactory completion of the foregoing terms and conditions at Ucore's discretion, the parties agree to constitute a joint venture for the purpose of marketing and purveying SuperLig® products and services exclusively to world markets in the rare earth, recycling and tailings processing sectors (the "Joint Venture"). The Joint Venture will involve utilizing IBC's proprietary technology regarding advanced metals separation and recovery technology on a royalty free basis and applying it to the REE, recycling and tailings processing markets worldwide. Ucore will have a controlling interest (60%) in the Joint Venture, while IBC will retain a 40% beneficial interest.

"This is an important step for Ucore in obtaining the capabilities of an integrated provider of rare earth products from mine to metal," said Jim McKenzie, President & CEO of Ucore. "MRT is a remarkable technology, already used extensively around the world in non-REE mining applications, where advanced SuperLig® circuits are currently used to liberate high purity PGM's and specialty metals. We're delighted that IBC, the recognized world leader in the highly specialized field of MRT, has now partnered with Ucore to bring this extensively proven separation platform to the rare earth sector. Perhaps most importantly, our licensing arrangement includes the application of SuperLig® technology to the world recycling and tailings processing sector – both for the recovery of rare earths and all other metals."