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Wednesday, January 4, 2012

Rare Earth company Ucore Rare Metals hires new CEO

Ucore Rare Metals Inc.Ucore Rare Metals Inc.
TSX VENTURE : UCU
OTCQX : UURAF



January 04, 2012 11:49 ET



HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 4, 2012) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(NASDAQ-OTCQX:UURAF) ("Ucore" or the "Company") is pleased to announce the appointment of Ken Collison as Chief Operating Officer.

Mr. Collison holds a B.Sc. in Mining Engineering from the University of Saskatchewan and a Masters of Engineering in Mining from the University of Saskatchewan. He was the Chief Operating Officer of Blue Pearl Mining/Thompson Creek Metals from 2005 to 2009, and was part of the team that purchased Thompson Creek Metals and built it into one of North America's premier molybdenum producers. He has previously held the positions of Vice President at Crandon Mining Corporation and Coeur Alaska, the Alaskan subsidiary of Coeur d'Alene Mines. He has extensive experience in mining operations, permitting and preparation of mining feasibility studies. 

Mr. Collison replaces Harmen Keyser in the capacity of Ucore's senior technologist and will be assembling a team of mine development specialists focused on the near term development of the Company's flagship heavy rare earth property at Bokan Mountain Alaska. 

"We're delighted that Mr. Collison has elected to join the Ucore team in a formal capacity," said Jim McKenzie, President and CEO of Ucore. "He's an accomplished mine development specialist with a reputation for bringing advanced stage properties to production on minimal turnaround and in a highly efficient and economical manner. He has a tremendous track record, is highly regarded in the mine engineering community, and brings a significant depth of experience managing and developing mining operations in Alaska.

Mr. Collison's appointment is additionally a benchmark event for Ucore, as we transition from advanced mineral exploration into fast track mine development. We'd also like to take this opportunity to thank Harmen Keyser for his invaluable contribution in taking early stage exploration activities to the threshold of mine development."

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.

Contact Information


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