Ucore Comments on American Mineral Security Act of 2015

HALIFAX, NOVA SCOTIA--(Marketwired - May 22, 2015) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to comment on recent hearings held in Washington, DC, by the Senate Committee on Energy and Natural Resources with respect to S.883 - Mineral Security Act of 2015 (the "Act"). The Act was recently introduced to the Senate by Senator Lisa Murkowski (R-AK) and has been referred to the Committee on Energy and Natural Resources (the "Committee").

"We commend Senator Murkowski in her efforts to reduce US reliance on foreign supply of critical minerals", said Jim McKenzie, President & CEO of Ucore. "The issue of US independence from China in matters related to critical metals has increasing resonance, especially given recent tensions between the two powers in the South China Sea. In identifying strategic resources located on US soil and seeking to streamline the permitting processes related thereto, the Act has important implications for the Bokan-Dotson Ridge Rare Earth Element Project. The Bokan-Dotson Ridge Project represents the highest grade heavy REE deposit in the US, under NI 43-101 standards, with materials essential to domestic energy and military applications, such as dysprosium, terbium and yttrium."

The Act seeks to revitalize the United States domestic minerals supply chain and help reduce dependence on foreign suppliers of critical minerals, including Rare Earth Elements ("REE"'s) through a number of initiatives. Broadly speaking, the Act proposes to establish an analytical and forecasting capability for identifying critical mineral market factors so as to avoid supply chain shortages and to encourage federal agencies to facilitate development and production of domestic resources to meet critical mineral needs. The Act additionally directs the US Bureau of Land Management and Forest Service to complete Federal permitting and review processes, with respect to critical mineral production on Federal land, with maximum efficiency and effectiveness and to report to Congress on additional measures and implementation options to facilitate expedient permitting strategies.