Ucore Rare Metals Inc. Joins U.S. OTCQX
International
December 7, 2010 - Halifax, Nova
Scotia, Canada - Ucore Rare Metals
Inc. (TSX-V: UCU; OTCQX: UURAF) ("Ucore"
or the "Company") is pleased to announce that its common
shares have commenced trading on the OTC market's highest tier, OTCQX�,
under the name Ucore Rare Metals Inc., symbol
UURAF. Ucore's common shares continue to
trade on the TSX under the symbol "UCU". Investors can find
current financial disclosure and Real-Time Level 2 quotes for the
company on www.otcqx.com and www.otcmarkets.com.
Berenbaum Weinshienk PC will serve as Ucore's Principal American Liaison
("PAL") on OTCQX, responsible for providing guidance on OTCQX
requirements.
"American investors are well aware of the importance of
Heavy Rare Earths to the economy and the significant investment
opportunity with our unique Heavy Rare Earth deposit in Bokan, Alaska. Having Ucore
graduate to the OTCQX will better serve our U.S. investor base by
providing them with an alternative trading platform for our common
shares." said Ucore's President and
C.E.O, Jim McKenzie. "The OTCQX has earned a strong reputation for
providing U.S. investors with improved liquidity, transparency,
superior information, and easy access through their U.S. regulated
broker-dealers."
"Investors prefer the quality-controlled admission process
on OTCQX which identifies the segment of OTC-traded companies focused
on valuation and transparency," said R. Cromwell Coulson, President and CEO of Pink OTC Markets.
"We are pleased to welcome Ucore Rare
Metals to OTCQX."
About Ucore Rare Metals
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.
For further information, please contact Mr. Jim McKenzie, President and
Chief Executive Officer of Ucore Rare Metals
Inc. at: (902) 482-5214 or visit www.ucoreraremetals.com
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.
About OTCQX
The OTCQX marketplace is the premier tier of the U.S. OTC market.
Investor-focused companies use the quality-controlled OTCQX platform to
offer investors transparent trading, superior information, and easy
access through their regulated U.S. broker-dealers. The innovative
OTCQX platform offers companies and their shareholders a level of
marketplace services formerly available only on a U.S. stock exchange.
For more information and to view a full list of OTCQX companies, visit www.otcqx.com.
About Pink OTC
Markets Inc.
Pink OTC Markets Inc.. (OTCQX: PINK) operates
the leading electronic interdealer quotation and trading system for
over 9,000 securities not listed on a U.S. stock exchange.. Pink OTC Markets segments these securities into
three tiers: the quality-controlled OTCQX marketplace, the U.S.
registered and reporting OTCQB marketplace, and the speculative trading
Pink Sheets marketplace. These three tiers constitute the third largest
U.S. liquidity pool for trading public company shares, after The NASDAQ
Stock Market, Inc. and The New York Stock Exchange. Our products and
services promote market transparency, improve price discovery,
facilitate regulatory compliance, and increase the quality of issuer
disclosure, to the benefit of all OTC market participants. To learn
more about how Pink OTC Markets' products and services make OTC markets
more transparent, informed, and efficient, please visit our websites at
www.otcmarkets.com, www.pinkotc.com and www.otcqx.com or contact us at info@pinkotc.com.
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