Ucore Receives a Crucial DPAS-Rated Long Lead Equipment Component at the Louisiana SMC

• On April 16, 2026, Ucore announced the arrival of a critical 4,000-gallon jacketed glass-lined reactor at its Louisiana Strategic Metals Complex (LA-SMC).
• The equipment procurement is funded under a US$22.4 million modified agreement with the US Army Contracting Command-Orlando and carries a Defense Priorities & Allocations System (DPAS) DO-B8 rating.
• This milestone supports the technology transfer of the RapidSX™ platform from the Ontario Commercial Demonstration Facility (CDF) to Louisiana.
• Commissioning for the first unit is scheduled for the first half of 2027, with technology transfer continuing throughout 2026.
• Logistics were managed by Ratcliff Construction, involving structural modifications to the building to accommodate delivery.

• Execution Validation: The news confirms physical progress on the Louisiana SMC construction timeline established in May 2025 (groundbreaking) and April 2026 (Phase 1 acceptance). It validates that long-lead equipment is being procured under DPAS priority, reducing supply chain risk.
• Expectation Alignment: This announcement was anticipated following the Phase 1 completion news on April 7, 2026. The timeline for commissioning (H1-2027) remains unchanged from previous guidance.
• Market Reaction Context: Despite positive execution, the stock price has declined significantly from its October 2025 highs ($11.71) to current levels (~$5.72). This suggests the market is pricing in broader sector headwinds or waiting for definitive offtake agreements rather than construction milestones.
• Risk Mitigation: The DPAS rating ensures suppliers prioritize Ucore's orders, mitigating equipment delivery delays which are a common risk in heavy industrial projects. However, this does not de-risk feedstock security or final permitting entirely.

• Company: Ucore Rare Metals Inc. focuses on building an integrated North American rare earth supply chain using proprietary RapidSX™ technology.
• Flagship Project: Louisiana Strategic Metals Complex (SMC) in Alexandria, LA. This is a mid-stream separation facility designed to process mixed rare earth oxides into individual high-purity oxides for defense and commercial use.
• Technology: RapidSX™ claims 3–7× faster throughput and smaller footprint compared to conventional solvent extraction (CSX). Phase 1 validation was completed in April 2026.
• Upstream Assets: Bokan Mountain Project (Alaska) provides a domestic resource base, though the Louisiana SMC is designed to be feedstock agnostic (processing imports from allied nations like Australia and Greenland).