Critical Metals Corp. (Nasdaq: CRML) (“Critical Metals Corp” or the “Company”), a leading critical minerals mining company, today announced that it has signed a letter of intent (LOI) for an offtake agreement with Ucore Rare Metals Inc (“Ucore”), a leader in rare-and critical-metal resources, extraction, beneficiation, and separation technologies.

Under the terms of the multi-year offtake arrangement, Critical Metals Corp expects to supply up to 10,000 metric tons annually of rare earth concentrate from its Tanbreez Project, which represents approximately 10% of the project’s initial projected production. After hydro-metallurgical processing, the concentrate will be used as feedstock for Ucore’s rare earth element processing facility, which is focused on heavy rare earths and broke ground in May, in Alexandria, Louisiana and Ucore’s facility in Kingston, Ontario. The Louisiana facility, which received support and funding from the state government and the U.S. Department of Defense, will produce high-purity rare earth oxides from mixed rare earth carbonates or oxides, which Critical Metals Corp expects to produce at Tanbreez.

“Critical Metals Corp’s Tanbreez offers tremendous opportunities for Ucore given the significant concentration of heavy rare earths it contains, which are essential for our processing facility in Louisiana, and our downstream partners,” said Pat Ryan, Chairman and CEO of Ucore. “Both Critical Metals Corp and Ucore share a vision to lessen China’s grip of the rare earth ecosystem in the West, and we look forward to our partnership, positioning us both to meet the growing demand for rare earths while addressing national security challenges.”

“This development further validates the opportunities ahead for Critical Metals Corp and the strength of our world-class asset in Southern Greenland,” said Tony Sage, CEO and Executive Chairman of Critical Metals Corp. “Securing this offtake provides Critical Metals Corp both with our first buyer and the flexibility to supply other US based rare earth facilities in the future, given the immense size of our Tanbreez deposit. We look forward to teaming up with Ucore and their exceptional team to support the development of a robust supply chain in America that isn’t reliant on China.”

Next Steps

The parties are working expeditiously toward definitive documentation. The execution of definitive agreements remains subject to customary conditions including completion of due diligence, finalization of commercial terms, and necessary approvals.

About Critical Metals Corp.

Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for the United States, Europe and their western world partners. Its flagship Project, Tanbreez, is one of the world’s largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.

Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio.

With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.

For more information, please visit https://www.criticalmetalscorp.com/.

About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, this plan includes disrupting the People’s Republic of China’s control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore’s 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA.

Ucore is listed on the TSXV under the trading symbol “UCU” and in the United States on the OTC Markets’ OTCQX® Best Market under the ticker symbol “UURAF.”

For further information, please visit www.ucore.com.

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