Ucore Announces a US$4 Million Award from the US Department of Defense

In This Article:

Ucore Announces:

  • A US$4 million award from the US Army Contracting Command-Orlando to demonstrate Rare Earth Element Separation Technology Capabilities at the RapidSX™ Commercialization and Demonstration Facility in Kingston, Ontario (the "Project")

  • It is anticipated that upon successful completion of the Project, a follow-on production award may be issued to further support Ucore's REE separation capabilities in Louisiana

Halifax, Nova Scotia--(Newsfile Corp. - June 6, 2023) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce that through its wholly owned subsidiary, Innovation Metals Corp. ("IMC"), the Company has been awarded a firm-fixed-price US$4 million Other Transaction Agreement[i] ("OT Agreement" or "Award") by the US Army Contracting Command-Orlando ("ACC-ORL" or "US-DoD") to conduct a Rare Earth Element ("REE") Separation Technology Capabilities Prototype Project (the "Project") at the Company's RapidSX™ Commercialization and Demonstration Facility ("CDF") in Kingston, Ontario, utilizing its 52-Stage RapidSX™ Demonstration Plant ("Demo Plant") for the separation of mixed heavy and light REE concentrate feedstocks.

The objectives of the Project are to present to the US-DoD:

  1. the capability to commercially source a sustainable domestic (i.e., United States and Canada) processing facility for converting heavy and light REEs feedstock sources to salable individual rare earth products.

  2. a new innovative separation process that increases the ability to create domestic REE processing plants.

It is anticipated that upon successful completion of the Project[ii], a follow-on production OT Agreement may be issued to further support Ucore's REE separation capabilities in North America, led by its flagship Louisiana Strategic Metals Complex ("SMC") planned for Alexandria, Louisiana, as announced on April 6, 2023.

"We believe that Ucore has one of the West's most compelling rare-earth-supply chain business models," stated Pat Ryan, Ucore Chairman and CEO. "This US-DoD Project will allow us to demonstrate the RapidSX™ technology platform for rare earth element separation and will include original equipment manufacturers' qualification trials in coordination with our commercial development activities at the Company's planned Louisiana SMC.

"The rare earth element processing opportunity afforded Ucore through this Award is pivotal as the Company continues to seek out and collaborate with like-minded upstream and downstream partners as part of a Western rare-earth-element supply chain solution."

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