UCU Ucore Rare Metals Inc

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Ucore Rare Metals Inc. (TSX VENTURE:UCU), ("Ucore" or the "Company") is pleased
to announce that further to its news release dated April 11, 2014, it has closed
the second tranche of a non-brokered private placement ("Private Placement") by
issuing 8,104,281 units ("Units") at $0.38 per Unit for gross proceeds of
$3,079,626, resulting in total gross proceeds for the two tranches combined of
$7,099,126. Each Unit consists of one common share in the capital of the Company
("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant
issued as part of the second tranche entitles the holder to acquire one Common
Share at a price of $0.50 until April 16, 2017.


All Common Shares and Warrants issued in connection with the closing of the
second tranche of the Private Placement are subject to a statutory hold period
that expires on August 17, 2014, in accordance with applicable securities
legislation. The net proceeds from the Private Placement will be used for
permitting and feasibility studies with respect to the Bokan Mountain property
in Alaska and for general working capital purposes. 


The Company has paid finder's fees totaling $342 and issued a total of 900
finder's warrants pursuant to certain subscriptions that were accepted in
connection with the second tranche. Each finder's warrant entitles the holder to
acquire one Common Share at a price of $0.38 until April 16, 2016. The Company
may close a further tranche of the Private Placement on the same terms. The
completion of a subsequent tranche will be subject to certain customary
conditions, including, but not limited to, the execution of definitive
subscription agreements with subscribers, the receipt of funds and the receipt
of all necessary regulatory approvals, including the approval of the TSX Venture
Exchange.


About Ucore Rare Metals Inc.

Ucore Rare Metals Inc. is an early stage mine development company focused on
rare earth elements ("REE"), strategic and technology metals. With multiple
projects across North America, Ucore's primary focus is the 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 expediting mine production and limiting the
capital costs associated with mine construction. The Bokan properties are
located in an area reserved for sustainable resource development.


Jim McKenzie, President and CEO 

This press release includes certain statements that may be deemed
"forward-looking statements", including statements regarding the completion of
subsequent tranches of the Private Placement. All statements in this release,
other than statements of historical fact, that address future exploration
drilling, exploration activities, the intended use of proceeds of this
financing, the intention to renounce Canadian Exploration Expenses and events or
developments that the Company expects, are forward looking statements. Although
the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking statements
include exploitation and exploration successes, continued availability of
financing, and general economic, market or business conditions.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


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

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