Ucore Provides Louisiana SMC Organizational and Project Team Updates

Ucore Rare Metals Inc. (UCU) has appointed Process Engineering Associates, LLC as the Owner’s Engineering Representative for its Louisiana Strategic Metals Complex. In this role, PEA will monitor engineering progress, delays, and risks, operating as an integrated component of the consortium led by Orbital Engineering. The project structure also incorporates Mech-Chem, permitting specialists, fire and safety experts, and procurement support.

The company announced four key personnel appointments to support the project: Greg Montgomery as Plant Manager, Bryan Peak as Project Manager, Brad Laeger as Construction Manager, and Didi Kazadi as Operational Process Engineer. These hires contribute to a workforce of approximately sixty people dedicated directly and indirectly to Ucore’s operations in Louisiana, Nova Scotia, and Ontario. The company cited its recent C$69 million capital raise as context for the expansion of its team.

Ucore reaffirmed its target for the installation, testing, and commissioning of Enhanced Machine A in the first half of 2027. This initial production line is designed to deliver 600 tonnes per annum of total rare earth oxide (TREO) capacity using RapidSX technology. Following commissioning, the company plans to conduct early product qualification trials and advance Production Line 1.

Ucore Rare Metals Inc. (UCU) has appointed owner’s engineering oversight and dedicated management teams for its plant, project, and construction phases. The company stated that these additions are intended to reduce execution risk and strengthen project governance by improving integration between engineering, procurement, construction, and operations.

The announcement does not alter the company’s commercial timeline, funding requirements, capital expenditure estimates, feedstock position, or offtake status. While the release provides details on management structure, it does not address the capital expenditure overrun disclosed in the MD&A, which noted that the initial LSMC capex for Machine A plus Production Line 1 increased to US$135 million from a prior estimate of US$65 million.

The H1 2027 production target referenced in the release was previously communicated in earlier filings. The company did not provide new information regarding production, revenue, contracts, permits, or financing. UCU shares are currently trading below the C$2.80 financing price set in August 2026, and the project timeline has already slipped from prior targets of H2 2026 or mid-2026.

Ucore Rare Metals Inc. (TSXV: UCU, OTCQX: UURAF) is a pre-revenue critical-metals technology and processing company. Its flagship near-term project is the Louisiana Strategic Metals Complex in Alexandria, Louisiana, which utilizes the proprietary RapidSX solvent-extraction platform. The first commercial unit, Enhanced Machine A, is designed for 600 tpa TREO and is targeted for installation, testing, and commissioning in H1 2027. The broader Louisiana SMC design targets approximately 9,600 tpa TREO using Enhanced Machine A plus three production lines, each around 3,000 tpa. Initial capex for Machine A plus Production Line 1 is US$135 million per the MD&A.

Planned products include NdPr, Pr, Nd, Sm, Gd, SEG, Tb, Dy, and eventually Y. The Kingston CDF in Ontario serves as the demonstration, co-commissioning, training, and customer-qualification site. It has produced 99.5% NdPr and 99.9% Dy oxide samples and has accumulated thousands of hours of simulated commercial runtime.

Bokan-Dotson Ridge in Alaska is a 100% controlled heavy rare earth asset. The April 2026 update reported Measured 0.802 Mt at 0.60% TREO, Indicated 3.37 Mt at 0.58% TREO, and Inferred 0.98 Mt at 0.57% TREO, with HREO at 35-40% of TREO.

No royalty terms are disclosed in the provided materials. Royalty-free status cannot be confirmed from the available information. No analyst target range or consensus is provided in the materials. Coverage cannot be assessed.