Ucore Updates on its US Heavy Rare Earth Production and DPAS Status

Ucore announces:

• Under its US$22.4 million funding agreement with the US Army Contracting Command-Orlando to launch its RapidSX™ rare earth element separation technology operations in Alexandria, Louisiana, the following progress updates:

• Completion of initial Alexandria field work activities

• The application of Defense Priorities & Allocations System ("DPAS") status to work being performed on the project

• RapidSX™ full commercial scale-up engineering and testing program

• Continued execution towards feedstock partnerships

• Long Lead Time Material identification and sourcing

Halifax, Nova Scotia--(Newsfile Corp. - September 19, 2025) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide progress updates regarding its US$22.4 million modified funding agreement with the US Army Contracting Command-Orlando. The purpose of the May 2025, Phase II modification project (the "Project") is to facilitate the construction of a production-ready commercial RapidSX™ machine and supporting infrastructure in Alexandria, Louisiana.

Defense Priorities & Allocations System ("DPAS") Rating

The Company is also pleased to report on the recent application of a DPAS DO-B8 rating to purchase orders related to the Project.

A DPAS rating imposes legal obligations on suppliers of equipment to the Louisiana SMC such that the fulfillment of any order for the SMC must be afforded preferential treatment over unrated orders in order to meet national defense and emergency preparedness requirements.

The DPAS is a regulation administered by the Department of Commerce that implements the priorities and allocations authority contained in Title 1 of the Defense Production Act ("DPA") of 1950 with respect to industrial resources, essentially prioritizing DPAS rated orders over all others in order to meet national defense and emergency preparedness requirements.

The Company's contract with US Army Contracting Command-Orlando was modified on July 9, 2025 to afford the contract DPAS status.

Figure 1 - Ucore's Demonstration-Scale Transition to Commercial-Scale US Rare Earth Separation

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Louisiana SMC