Ucore Receives Priority Permitting Assistance from US Dept of Agriculture

HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 3, 2011) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to announce that the U.S. Department of Agriculture ("USDA" or the "Department") has granted a request for priority permitting of the Company's Bokan Mountain rare earth project in Southeast Alaska. The Department has approved exploration permitting in inventoried roadless areas of the Tongass National Forest proximal to Bokan. The permitting approvals will allow the Bokan project to proceed significantly faster than previously anticipated, reducing project development time by a year or more.

The special approvals were granted as a result of proactive measures undertaken by USDA Under Secretary Harris Sherman, and underscore the interpretation of Bokan as a federally controlled area subject to priority mineral development. In a statement issued on August 1, U.S. Forest Service Alaska Regional Forester, Beth Pendleton, announced the permitting approvals will allow Ucore to proceed with helicopter supported exploration in the roadless areas adjacent to the Bokan resource, effective immediately.

The US Forest Service is an operating arm of the USDA. In the Forest Service Land Plan Update filed in 2008, the Bokan area was identified as a "Mineral Prescription". The status acknowledges the region's inordinate mineral content and confers resource development as a priority to alternative permitting applications in the area.

"I appreciate the U.S. Forest Service Alaska Region's attention to the needs of mining exploration and the important role mining plays in Southeast Alaska's economy," commented Alaskan Senator Mark Begich. "The action by the Forest Service is critical to moving these projects forward and helping to create some badly needed jobs in the region. In particular, I look forward to learning more about the Bokan project firsthand during my visit later this week."

"I welcome the Forest Service's efforts to find a compromise that allows responsible development to proceed," commented Alaskan Senator Lisa Murkowski. "The ability to develop our domestic supplies of critical minerals is important both to our national security and to the economy of Alaska."

"This initiative is a tremendous lift for expedited development at Bokan," said Jim McKenzie, President & CEO of Ucore. "The Bokan heavy rare earth resource is now recognized as a unique American asset of critical importance to domestic technology, defense and alternative energy sectors. Under Secretary Sherman has shown great vision in asserting that projects like Bokan require federal intervention to advance as quickly as possible, and we're very grateful for this. We're also particularly thankful to Alaska Senator's Lisa Murkowski and Mark Begich for their strong support of the project and direct intervention in obtaining these approvals. This priority permitting has resulted from the combined efforts of the Alaska Senatorial delegation, the USDA and the local USFS; a remarkable show of support for the expedited development at Bokan from both federal and state jurisdictions."

Background

Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. With multiple projects across North America, Ucore's primary 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 direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in expediting mine production and limiting the capital costs associated with mine construction.

The Bokan properties are located in an area reserved for sustainable resource development with an existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson ridge project occurs in a well-demarcated vein system related to a Mesozoic Bokan peralkaline granitic complex. However, a number of other occurrences of REE mineralization are also located within, or at the margins of the complex. Viewed in a geological and geophysical context, the Bokan complex is a distinctive circular structure and is highly prospective for rare earths deposits.

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 and events or developments that the Company expects, are forward looking statements. 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, continued availability of financing, and general economic, market or business conditions.