Ucore Grants Incentive Stock Options and Provides Corporate Updates Page 1

Halifax, Nova Scotia–(Newsfile Corp. – September 2, 2024) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore”) or the “Company”) announces that a total of 965,000 options have been granted to directors, officers, employees and consultants of the Company, subject to TSX Venture Exchange approval. The options are exercisable into common shares at a price of $0.70 per share and will expire five years from the date of grant, September 2, 2024. One-third of the options will vest after six months, and one-third every six months thereafter until the options are fully vested.

The Company also reports that a total of 960,000 Restricted Share Units were issued to officers and employees of the Company. The Restricted Share Units vest over a period of three years, with the first third vesting 12 months after the date of issuance.