Ucore Updates on Ongoing Advancement of Mineralogy and Metallurgy at Bokan

HALIFAX, NOVA SCOTIA -- (Marketwire) -- 10/22/10 -- Ucore Rare Metals Inc. (TSX VENTURE: UCU) ('Ucore' or 'the Company') is pleased to provide an update on continued mineralogical and metallurgical research on bulk samples obtained from the Bokan-Dotson Ridge heavy rare earth project in southeast Alaska. The current research, being undertaken by Hazen Research Inc. of Golden, Colorado (Hazen), builds upon already completed mineralogical and metallurgical research on Bokan mineralized samples completed by Dr. Anthony Mariano of Carlisle, Massachusetts, Dr. Roshan Bhappu of Mountain States Laboratories of Vail, Arizona, the United States Bureau of Mines Laboratories in Salt Lake City, Utah, and SGS Lakefield Laboratories of Lakefield, Ontario(SGS).

Representative bulk samples were shipped to Hazen in early September, 2010, with the results of a detailed analysis anticipated at or around the end of 2010, to coincide with the delivery of an NI 43-101 compliant Inferred Resource for the combined I&L and Dotson Zones at Bokan. The objective of this research is to develop beneficiation, liberation and separation processes for Bokan rare earth mineralization, to be utilized in prospective near term rare earth mining and processing operations. Specifically, Hazen has been tasked with generating process methodologies customized to the mineralized signature of Bokan, including (1) quantitative mineralogy targeting alternative processing routes, (2) physical separation methodologies designed to eliminate the barren fractions as effectively and inexpensively as possible, and (3) procedures related to chemical attack of the resultant mineral concentrate, in order to solubilize the rare earth elements.

In March 2010, Ucore released information relative to a concentrate from Bokan mineralization which had been effectively developed by Dr. Anthony Mariano, employing inexpensive physical processing methodologies. Physical separation, entailing the crushing and grinding of ore to an optimal mesh for subsequent processing, serves as the initial stage of a beneficiation chain that will include flotation and hydrometallurgical processing, and conclude with final chemical cracking. Dr. Mariano's work complements prior mineralogical research on Bokan samples conducted by SGS Lakefield. The work of Dr. Mariano, Dr. Bhappu, SGS Lakefield and the U.S. Bureau of Mines Laboratories is now being augmented and synthesized into a final mineralogical and metallurgical study by Hazen, scheduled for delivery within the next quarter.

'Dr. Mariano's success in developing a concentrate using simple heavy media separation techniques, together with the work of SGS Lakefield in developing a protocol for the liberation of minerals in bulk samples from Bokan, provide a strong foundation for the more advanced work now being performed at Hazen.' said Jim McKenzie, President & CEO of Ucore. 'We're also grateful to be able to leverage the results of an ongoing active involvement of US federal agencies at Bokan, such as the USBM and USGS, as we refine a process for the recovery of rare earth elements at Bokan. We anticipate that the already effective processes utilised by Green and Harbuck in the 1990's can now be improved upon, using the contributing research of SGS and Dr. Mariano, and look forward to the results of Hazen's work in the near term.'

The Green and Harbuck study ('G&H', US Bureau of Mines, Salt Lake City, 1996), reported a significant 96% recovery of yttrium from bulk samples taken from Bokan. The favourable conclusions of G&H, using yttrium is an effective proxy for the recovery of other heavy rare earths, were supported by an independent review of the study commissioned by Ucore and completed by Dr. Roshan Bhappu of Mountain States R&D International (see Ucore release: Sept. 3, 2009). The G&H study is available in full on the Ucore website.

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 project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia. The project area is served by barge and float plane from Ketchikan, with a pre-existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson Ridge project is structurally controlled in multiple dikes radial to a Mesozoic peralkaline intrusive complex.

In 1989, a U.S. Bureau of Mines study (Barker & Warner, USBM OFR 33-89) estimated that the greater Bokan area contains 37.8 million tons grading 0.50% TREO. This historical non NI 43-101 compliant estimate equates to 374 million lbs of contained TREO and ranks as one of the most prospective and accessible heavy rare earth prospects in North America.

Readers are cautioned that the resource estimates quoted by the US Bureau of Mines were prepared prior to the implementation of National Instrument 43-101 and are therefore of a historical nature. A qualified person has not done sufficient work to classify the historical estimate contained hereunder as current mineral resources. The Company is not treating the historical resource estimate as a NI 43-101 defined resource or reserve, and therefore the historical resource estimate should not be relied upon.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Ucore Rare Metals Inc.

Mr. Jim McKenzie

President and Chief Executive Officer

(902) 482-5214