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 releases dated April 11, 2014 and April 16,
2014 it has closed the final tranche of a non-brokered private placement
("Private Placement") by issuing 2,050,000 units ("Units") at $0.38 per Unit for
gross proceeds of $779,000, resulting in cumulative gross proceeds for the
Private Placement of $7,878,126. 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 final tranche entitles the
holder to acquire one Common Share at a price of $0.50 until April 17, 2017.


All Common Shares and Warrants issued in connection with the closing of the
final tranche of the Private Placement are subject to a statutory hold period
that expires on August 18, 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 $26,600 and issued a total of
140,000 finder's warrants pursuant to certain subscriptions that were accepted
in connection with the final tranche, bringing total finder's fees for the
Private Placement to $26,942 and total finder's warrants to 140,900. Each
finder's warrant issued with respect to the final tranche entitles the holder to
acquire one Common Share at a price of $0.38 until April 17, 2016. 


"The Company is very pleased to have completed this offering. The funds were
raised on a cost-effective basis and the investors' apparent support for the
Company and our projects and plans is exceptional. We look forward to the next
steps and the progress that will be made on the Bokan Mountain Project and our
continued march toward the intended development of a low cap-ex rare earth
mineral mine and separation facility in Alaska," said Jim McKenzie, Ucore's
President & CEO.


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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