Ucore Rare Metals, Inc. (UURAF: OTC Link) | Ucore Comments on The Announcement Of A Chinese Rare Earth Stockpile

OTC

Ucore Comments on The Announcement Of A Chinese Rare Earth Stockpile

Jul 04, 2012

OTC Disclosure News Service

Hammonds Plains, NS, Canada –

Ucore Comments on The Announcement Of A Chinese Rare Earth Stockpile

July 3, 2012 – UcoreRare Metals Inc. (TSX-V:UCU|OTCQX:UURAF) (“Ucore” or “the Company”) ispleased to comment on the recent announcement that the Chinese governmentintends to implement a stockpile of critical rare earth oxides, including DysprosiumOxide, Terbium Oxide, Europium Oxide, and Yttrium Oxide.  It is expected that rare earth producersChalco, China Minmetal, and Baotou Steel Rare Earth are to receive interestfree loans in conjunction with the creation of the stockpile. 

This action by the Chinese Government to further control thesupply of these crucial elements, all of which are considered to be critical bythe US Department of Energy, further increases attention on the degree of exposurethat the West has to supply interruption of a small group of critical metals.  Ucore continues to encourage Federalinitiatives to increase competition in the U.S. domestic rare earth market.  The Company’s extensive resource holdings,particularly its Bokan – Dotson Ridge REE property in Alaska, hold greatpotential for the U.S. to develop a fully independent rare earth industry.

“Ucore is actively pursuing collaboration with the U.S.government to accelerate the development of Bokan Mountain’s heavy rare earthresources, and is pleased with the progress of Federal initiatives to date.”,said Jim McKenzie, President CEO of Ucore.  “China’s prospective stockpile of some of themost critically threatened strategic metals to the US is a watershed event thatwill likely accelerate the development of domestic initiatives to protect thesupply of these materials.” 

About Ucore RareMetals Inc.

Ucore Rare Metals Inc. is a well-funded development-phasemining company focused on establishing rare metal resources with near termproduction potential. With multiple projects across North America, Ucore’sprimary 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 directocean access to the western seaboard and the Pacific Rim, a significantadvantage in developing near term production facilities and limiting thecapital costs associated with mine construction.

The Bokan property is particularly enriched with heavy rareearth elements, including the critical elements Dysprosium, Terbium and Yttrium.  Approximately 40% (by weight) of therare earth elements contained on the Dotson Ridge property are heavy rareearths elements, as disclosed in the Company’s NI43-101 compliant resourceestimate, released in March of 2011.

For further information, please contact Mr. Jim McKenzie,President and Chief Executive Officer of Ucore Rare Metals Inc. at: (902)482-5214 or visit http://www.ucore.com

Jim McKenzie, President and CEO

This press release includescertain statements that may be deemed “forward-looking statements”. Allstatements in this release, other than statements of historical facts, thataddress future exploration drilling, exploration activities and events ordevelopments that the Company expects, are forward looking statements. Althoughthe Company believes the expectations expressed in such forward-lookingstatements are based on reasonable assumptions, such statements are notguarantees of future performance and actual results or developments may differmaterially from those in forward-looking statements. Factors that could causeactual results to differ materially from those in forward-looking statementsinclude exploitation and exploration successes, continued availability of financing,and general economic, market or business conditions.

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

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Leave a Reply