Ucore Rare Metals, Inc. (UURAF: OTC Link) | Ucore Initiates Bulk Sample in Preparation for Production Scale Testing


Ucore Initiates Bulk Sample in Preparation for Production Scale Testing

Jun 14, 2012

OTC Disclosure News Service

Hammonds Plains, NS, Canada –

Ucore Initiates Bulk Sample in Preparation for Production Scale Testing

June 14, 2012 – Ucore Rare Metals Inc. (TSX-V:UCU|OTCQX:UURAF), (“Ucore” or the “Company”) is pleased to announce that custom processing has been initiated on a 20 ton bulk sample extracted from three sites along its Bokan Mountain rareearth deposit in Southeast Alaska.  Excavating the metallurgical sample was approved by a Decision Memorandum on July 1st,2011 from the US Forest Service. 

This past week, a local Ketchikan contractor was retained to crush andsegregate the material into 4 specified size fractions. The individual sampleswill now be transported to Germany to be processed through a production scale X-raysorter to prepare an upgraded ore sample for future metallurgical testing.

“Ucore is now progressing to further metallurgical testing and a pilotplant for the metal recovery section of the circuit to give us the informationrequired for a Feasibility Study,” said Ken Collison, COO of Ucore. “Ourprevious work on X-ray ore sorting has shown significant Capex and operatingcost advantages, and we’re anxious to optimize those advantages. Previous productionscale sorter tests showed that 50% of the material mined will be rejected aswaste, while recovering approximately 97% of the rare earth metal content.  This is a significant advantage, since a1,500 tonne per day mine will theoretically require only a 750 tonne per daymill. Our plan is to conduct the majority of pilot scale test work in 2012.”

Randy MacGillivray, the Environment and Community Relations Directorsaid “I’m very excited about the Bokan project due to its favorablegeochemistry, and mining and milling method which will require that 100% of thetailings be placed back underground as backfill and the fact that we aredeveloping a Community Plan which will focus on having local people andbusinesses involved in the project. Using a local Ketchikan based contractor to prepare and ship this samplefor us is in line with our commitment for local hire and procurement.  Obtaining and processing a 20 tonmetallurgical bulk sample is a significant milestone for the Bokan Project aswe transition from an exploration project to a development project.”

The forthcoming production scale research will supplement prior bulktesting conducted by Ucore (see Ucore press release dated March 6, 2012). Itwill additionally advance the preliminary metallurgical flow sheet which willbe included in the Company’s forthcoming Preliminary Economic Assessment,expected to be released within the next 30 days.

About Ucore Rare MetalsInc.

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 properties are located in an area reservedfor sustainable resource development with an existing road network providingaccess to the main target areas. REE mineralization at the Bokan-Dotson Ridgeproject occurs in a well-demarcated vein system related to a Mesozoic Bokanperalkaline granitic complex. Viewed in a geological and geophysical context,the Bokan complex is a distinctive circular structure and is highly prospectivefor rare earths deposits.

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

Signed “Jim McKenzie”

Jim McKenzie, President and CEO  

This press release includes certainstatements 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 lookingstatements. Although the Company believes the expectations expressed insuch forward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual results ordevelopments may differ materially from those in forward-lookingstatements. Factors that could cause actual results to differ materiallyfrom those in forward-looking statements include exploitation and explorationsuccesses, continued availability of financing, and general economic, market orbusiness conditions.

Neither TSX Venture Exchange norits Regulation Services Provider (as that term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy or accuracyof 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.

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