Ucore Backs 2017 METALS Act

HALIFAX, NOVA SCOTIA--(Marketwired - March 7, 2017) - Ucore Rare Metals, Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is proud to announce its support of the Materials Essential To American Leadership and Security Act of 2017 (the "METALS Act" or the "Act"). The associated House of Representatives (H.R.) Bill, sponsored by California Congressman, Rep. Duncan Hunter was introduced today.

http://ucore.com/METALS-act

The purpose of the METALS Act is to re-establish a domestic industrial base for the production of rare earths, reduce existing dependence on foreign nations, and ensure the Department of Defense always has a secure supply chain for critical materials regardless of the geopolitical environment.

The Act recognizes that the People's Republic of China dominates the supply chain for the production of rare earth elements, controlling more than 90% of the world's production and that they have used this dominance geopolitically in the past by selectively enacting a de facto embargo on the export of rare earth elements. Additionally, the Act acknowledges that a host of advanced defense related applications would be rendered ineffective if the United States' access to foreign sources of these materials was restricted. The potential for China to suspend exports of these crucial materials exists to today.

"Ucore has worked closely with a number of key legislators to affect the intent and the potential of this bill," said Jim McKenzie, President and CEO of Ucore. "The Act promotes the development of a domestic industrial base for the production of strategic and critical materials, and is in direct keeping with our present objective of establishing a US based Strategic Metals Complex (SMC). With a new administration focused on trade issues vis a vis China, our timing could not be better."

"We're pleased to support the METALS Act and the goal of providing the United States with a domestic source of these critical materials," continued McKenzie. "The Act is a concrete step toward developing a domestic industrial base for the production of strategic and critical materials, including rare earths. Further, we support provisions prohibiting the sale of US rare earth assets to certain foreign parties. Ucore strongly believes a domestic industrial base for the production of rare earths is essential to ensuring safe and secure defense supply chains and is in the best interests of U.S. national security."