Ucore Comments on Unanimous Passing of SB 99 by Alaska State Senate

Ucore Rare Metals Inc (TSX VENTURE:UCU) ("Ucore" or "the Company") is pleased to
comment on the passage of Senate Bill 99 "AIDEA: Development Loans" ("SB 99" or
"the Bill") through the Alaska State Senate. SB 99 passed in a unanimous vote,
with all 20 senators voting in favor of the Bill. The Bill would authorize the
Alaska Industrial Development and Export Authority ("AIDEA" or the "Authority")
to issue bonds to finance the infrastructure and construction costs of the
Bokan-Dotson Ridge rare earth element project up to a principal amount of $145
million. 


The Bill, originated by Senator Lesil McGuire (AK-R) and subsequently amended by
Senator Bert Stedman (AK-R) will likely now be referred to the Labor and
Commerce Committee of the House of Representatives for consideration and
approval before final consideration by the entire House. 


"We thank the Alaska Senate for their support of Senate Bill 99," stated Jim
McKenzie, President & CEO of Ucore. "Specifically, we are grateful to Senators
McGuire and Stedman and their respective staffs for their initiative with
respect to this project. We welcome the opportunity to work with Alaskan
lawmakers, AIDEA, and local constituents in developing the Bokan-Dotson Ridge
project."


Pending approval of SB 99 by the House of Representatives, AIDEA will be given
the authority to arrange for the bond financing, subject to its own final due
diligence and the approval of the AIDEA Board. 


AIDEA is a public corporation of the State of Alaska which was created in 1967.
AIDEA was originally capitalized in the early 1980's with an existing loan
portfolio and a small amount of cash held by the Department of Revenue in the
General Fund in the amount of $189 million. AIDEA's Development Finance Program
started in the mid-1980's, capitalized with the transfer of a loan portfolio in
the amount of $128 million from the State General Fund. 


AIDEA has repaid all of these initial capitalization funds to the State through
its annual dividend program. To date, AIDEA has paid the State General Fund a
total of $345 million in dividends, including the 2014 dividend of $20.75
million. With approximately $1.4 Billion under its management, the Authority has
an ownership position in 8 Alaskan projects, has issued in excess of $1.3
Billion in Conduit Bonds and has a loan portfolio in excess of $400 million.


Cautionary Notes

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term is defined in policies of the TSX Venture Exchange) accepts responsibility
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About Ucore Rare Metals Inc.

Ucore Rare Metals Inc. is a development-phase mining company focused on
establishing rare metal resources with near term production potential. With
multiple projects across North America, Ucore's primary focus is the 100% owned
Bokan - Dotson Ridge REE property in Alaska. The Bokan - Dotson Ridge REE
project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of
Prince Rupert, British Columbia and has direct ocean access to the western
seaboard and the Pacific Rim, a significant advantage in developing near term
production facilities and limiting the capital costs associated with mine
construction.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com

Ucore Rare Metals (TSXV:UCU)
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