Ucore Comments on Royalty Conversion and Positive Outlook of New 10% Shareholder

HALIFAX, NOVA SCOTIA--(Marketwired - Jan. 18, 2016) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to comment on the addition of Orca Holdings LLC ("Orca"), an Alaska-based enterprise controlled by Ucore Advisory Board member Randy Johnson, as a 10% Shareholder of Ucore and Mr. Johnson as a Reporting Insider of the Company.

On January 15, 2016, the Company reported that a recent investment of USD $5.3 million has been converted into 30,470,760 equity common shares of the Company. The majority of those shares (81%) are owned by Mr. Johnson. On January 17, 2016, pursuant to the conversion, Mr. Johnson issued a supplementary Early Warning Press Release ("EWPR") informing that Orca is now a 10% Shareholder of Ucore and that he is now a Reporting Insider of Ucore.

In the January 17^th EWPR, Mr. Johnson commented on his positive outlook for Ucore, his intention to remain as a long-term shareholder of the Company and his reasons for the immediate increase of his sizable stake in Ucore beyond the 10% threshold. For a copy of the EWPR, and Mr. Johnson's positive commentary on Ucore, please refer to the following link: http://www.marketwired.com/press-release/orca-holdings-llc-exercises-its-right-convert-production-royalty-into-common-shares-2088709.htm

As a Reporting Insider, any and all transactions in Ucore securities entered into by Mr. Johnson will be reported promptly on SEDI, in accordance with applicable Securities Legislation. Mr. Johnson has up to 10 days to file his initial insider report.

"We're extremely pleased to welcome Mr. Johnson as a Reporting Insider of Ucore," commented Jim McKenzie, President and CEO of Ucore. "Randy has built an impressive industrial resume in Alaska and beyond, and his experience in company-building will be a significant asset and resource to us as Ucore enters its early production phase. What's more, his substantial recent investments in Ucore, and his commitment to retaining and progressively expanding his ownership position over the long term, are significant votes of confidence in the prospects of the Company. We look forward to rewarding this commitment with continued growth and return on investment.