UURAF Ucore Rare Metals Inc (QX)

November 29, 2012 –
Halifax, Nova Scotia – Ucore Rare Metals Inc (TSX-V:UCU) (OTCQX:UURAF)
(“Ucore” or “the Company”) is pleased to announce that it will be presenting at
the Alaska Strategic and Critical Minerals Summit on Friday, November 30, 2012.  The event is being sponsored by the State of
Alaska and the University of Alaska Fairbanks. 

The agenda for the summit
includes a progress report on the State of Alaska’s strategic metals
initiative, announced by Governor Sean Parnell in September of 2011 and
entitled “Secure Alaska’s Future – Strategic Minerals”.  The strategy includes the following
initiatives:

·         - The undertaking of an assessment of the
State’s  strategic mineral potential;

·         - The provision of incentives for development
of strategic mineral occurrences;

·   - Improvements to the structure and efficiency
of permitting processes in order to expedite mineral development;

·         - Deepening coordination between public and
private entities;

·         - And attracting new investment for Alaska’s
mineral resources. 

Speakers at the conference
include Lt. Gov. Mead Treadwell; Department of Commerce, Economic Development
and Community Affairs Commissioner Susan Bell; Department of Natural Resources
Deputy Commissioner Ed Fogels; other State officials and representatives from
the private sector.  United States
Senator Lisa Murkowski, R-Alaska is expected to attend.

The Company’s Chief
Operating Officer, Ken Collison will be discussing the Company’s recently released
Preliminary Economic Assessment on the Bokan Mountain project.  Excerpts from the Company’s conference
materials can be found at the following link:

http://www.ucore.com/advantages

“We are grateful to the
organisers for the opportunity to present at the Second Annual Alaska Strategic
and Critical Minerals Summit,” said Jim McKenzie, President & CEO of
Ucore.  “Alaska’s strategic minerals
initiative demonstrates the State’s commitment to the development of its rare
earth resources and to aid the United States in its efforts to develop an
independent supply of these critical materials.”

About
Ucore Rare Metals Inc.

Ucore Rare Metals Inc. is a
development-phase mining company focused on establishing rare metal resources
with near term production potential. 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 developing near term production facilities and
limiting the capital costs associated with mine construction.

The Bokan property is
particularly enriched with heavy rare earth elements, including the critical
elements dysprosium, terbium and yttrium. Approximately 40% (by weight) of the
rare earth elements contained on the Dotson Ridge property are heavy rare earth
elements, as disclosed in the Company’s NI43-101 resource estimate technical
report, filed on April 21^st, 2011. The resource was completed by R.
J. Robinson, a consultant from Aurora Geosciences.

For further information,
please contact Mr. Jim McKenzie, President and Chief Executive Officer of Ucore
Rare Metals Inc. at: (902) 482-5214 or visit http://www.ucore.com

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