News Column

Alaska State Legislature Votes Unanimously in Favor of Bokan Development

Apr 23 2013 12:00AM

Marketwire

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HALIFAX, NOVA SCOTIA -- (Marketwired) -- 04/23/13 -- Ucore Rare Metals Inc (TSX VENTURE: UCU)(OTCQX: UURAF) ("Ucore" or "the Company") is pleased to report on the passage of Senate Joint Resolution No. 8 (the "Resolution" or "Joint Resolution") by the State of Alaska Legislature. All 39 representatives in attendance voted in favor of the Resolution, which states the Legislature's support for continued and increased exploration, extraction, processing and production of rare earth elements in the State.

Several Representatives spoke out in favor of the Joint Resolution, including Representatives Costello, Kreiss-Tomkins, Johnson, and Millett. A video record of the discussion is available at the following link: http://ucore.com/resolution8

In discussing the prospective positive environmental aspects of the Bokan Project and China's domination of rare earth mining and downstream processing industries, Representative Craig Johnson noted, "I see a future for Alaska where we can become a state that processes these minerals....and this could be the future of Alaska."

Representative Millett noted Alaska's potential to play a crucial role in the US Department of Defense's recent announcement to stockpile strategic rare earths such as dysprosium. She asked representatives to vote in favor of the Joint Resolution and to "...send a message to Congress that we are ready, willing, and able to serve their needs for rare earth elements".

The Joint Resolution, introduced in the Alaska Senate by Senator Lesil McGuire with 15 co-sponsors, passed both the Senate (with all 20 Senators voting in favor) and Legislature unanimously. The Resolution will now be submitted to Governor Sean Parnell for ratification.

The Resolution speaks to a number of Federal entities, including the US Geological Survey (USGS), the US Department of Commerce (USDOC), US Department of Defense (USDOD) and US Congress. The Resolution urges support for a number of initiatives, and expressly urges agencies that administer permits required for the development of rare earth element projects in the State, which include the Bokan Project, to expedite the consideration and issuance of such permits.

"We're thrilled with the unanimous support of the Bokan Project by State of Alaska lawmakers," said Jim McKenzie, President & CEO of Ucore. "We believe the passage of this Resolution in both the State Senate and House, particularly the high number of State Senators who joined in sponsoring the resolution, sends a very clear message that the state government stands behind initiatives for expedited development and facilitating of projects like the Bokan Project."

For additional information on the Bokan near term mine development plan in Southeast Alaska, please visit: www.ucore.com

For additional information on Alaska State Legislature initiatives regarding rare earth development and mining infrastructure, please visit: http://www.aidea.org/Programs/InfrastructureDevelopment.aspx

Cautionary Notes

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.

About Ucore Rare Metals Inc.

Ucore Rare Metals Inc. is 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 - Dotson Ridge property is the subject of a Preliminary Economic Assessment which was prepared by Tetra Tech of Vancouver, ("Preliminary Economic Assessment on the Bokan Mountain Rare Earth Element Project, Near Ketchikan, Alaska, dated March 4, 2013).

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



Contacts:
Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com





Source: Marketwire


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