HALIFAX, NOVA SCOTIA -- (Marketwire) -- 02/02/12 -- Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to announce the release of two mobile software applications ("Apps") that will introduce and educate investors regarding historical and current uses of Rare Earth Elements, while providing additional up to date information on international REE market prices. The free Apps are now available for both Apple (iOS) and Android devices. Visitors can learn more about these applications on the Ucore website at http://ucore.com/apps.

"In developing relationships with end users and other participants in the REE space, Ucore became aware of the desire and need for readily available price and reference info across the entire lanthanide suite," said Jim McKenzie, President and CEO of Ucore. "Rare Earths are a hot topic and we wanted to create a platform for users to learn just how vital these critical technology metals are to the future of our economy, while giving investors the tools to make informed investment decisions in the sector."

"These mobile Apps have been developed by our in-house team," continued McKenzie. "Much of the research material has been utilized by Ucore for internal planning and economic assessment purposes, and we're now pleased to offer the collateral data and market information as a service to Ucore investors and the REE community at large."

The rare earth reference and educational information contained in the software has been developed internally by Ucore personnel. Specific REE pricing data applicable to the mobile Apps has been furnished by Asian Metals, a leader in the provision of current specialty metals economic data. Ucore has partnered with Asian Metals for these innovative Apps primarily due to the currency of the data, which reflects actual transactional prices as opposed to speculative spot prices. Asian Metals has been compiling market based data via their Beijing office for over 12 years and have a very close relationship with producers and traders of rare earths.

The Ucore Rare Earth educational and information iPad App has been in beta phase since August, 2011, and has already garnered in excess of 3,000 downloads on the Apple App Store. The finalized iPad App will now be available for free to investors, educational institutions and the general public. For more information, please visit http://ucore.com/apps or contact Mr. Byron Fillmore ([email protected]) for details.

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.

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