HALIFAX, Nova Scotia, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Ucore Rare Metals, Inc. (TSXV:UCU) (OTCQX:UURAF) (“Ucore” or the “Company”) applauds the Trump Administration for issuing an Executive Order that fundamentally changes the way the United States views its national security and critical minerals policy.
President Trump signed the Executive Order on Wednesday instructing his deputies to develop a strategy to end the United States’ reliance on imports for minerals that are “vital to the Nation’s security and economic prosperity.” The order acknowledges that continued reliance on foreign nations such as China for a critical supply of minerals is dangerous and jeopardizes the United States’ technological superiority and military readiness.
“This EO represents a turning point in US critical mineral policy, and a sea change in thinking from the past 30 years,” said Jim McKenzie, President & CEO of Ucore. “It portends the dropping of unnecessary and duplicative regulatory barriers, the opening of capital markets to mining investment, and the US government finally embracing the link between critical materials and national security. With our plans for strategic metals production capabilities in Southeast Alaska and with significant strategic minerals resources at hand, Ucore is well positioned to take advantage of this Executive Order and its benefits.”
As a North American company focused on rare metal resources, Ucore continues its focus on critical minerals exploration and extraction. The Company supports the Trump Administration’s initiative to streamline the permitting process for exploration and the promotion of investment in domestic critical mineral companies.
Ucore Rare Metals is a development-phase company focused on rare metals resources, extraction and beneficiation technologies with near term potential for production, growth and scalability. The Company has a 100% ownership stake in the Bokan project. On March 31, 2014, Ucore announced the unanimous support of the Alaska State Legislature for the investment of up to USD $145 Million in the Bokan project at the discretion of the Alaska Import Development and Export Agency (“AIDEA”).
For further information, please contact Mr. Jim McKenzie, President and Chief Executive Officer of Ucore Rare Metals Inc. at: +1 (902) 482-5214 or visit http://www.ucore.com.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities, research and development timelines, and events or developments that the Company expects, are forward looking statements. Forward looking statements in this press release include that we may enter into a long-term supply partnership and offtake relationship and the possibility of an independent North American REE supply chain. 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 or setbacks, research and develop successes or setbacks, continued availability of financing, that we may not be able to reach agreements, that the product may not be suitable for intended uses, and general economic, market or business conditions.
MRT is at advanced testing stages and has yet to be proven, at a commercial scale, for the separation of rare earth elements. The Company has not yet released an economic assessment on the use of MRT for the separation of rare earth elements and does not yet have any specific contracts for the processing of rare earths using MRT.
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