Ucore Grants Incentive Stock Options

HALIFAX, NOVA SCOTIA -- (Marketwire) -- 11/08/11 -- Ucore Rare Metals Inc. (TSX VENTURE: UCU) ('Ucore' or the 'Company') advises that an aggregate of 1,920,000 options have been granted to directors, officers, employees and consultants of the Company, subject to the approval of the TSX Venture Exchange. The options are exercisable at a price of $0.55 per share and expire five years from November 7, 2011, the date of grant. One third of the options will vest after six months, with one third vesting every six months thereafter until fully vested.

Disclaimer

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 Corporation expects, are forward looking statements. Although the Corporation 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined by the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Ucore Rare Metals Inc.

Mr. Jim McKenzie

President and Chief Executive Officer

(902) 482-5214