The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Ucore Appoints Ryan as Board Member

Monday, May 14, 2012

Ucore Appoints Ryan as Board Member09:24 EDT Monday, May 14, 2012HALIFAX, NOVA SCOTIA--(Marketwire - May 14, 2012) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or the "Company") is pleased to announce the appointment of Mr. Patrick Ryan to its Board of Directors, effective May 14, 2012.Mr. Ryan brings to Ucore a broad range of experience and corporate leadership in industrial operations management, large scale manufacturing, and the supply side of the international automotive industry, facilitating significant long term supply contracts with automotive assembly concerns in North America, Europe and the Pacific Rim.Mr. Ryan has a keen sense of global market supply stream logistics, routinely serving major automotive concerns including Ford, General Motors, Toyota, Nissan, Hyundai and Mercedes, among others. He is the Founder of Neocon International, an automotive OEM design and lean manufacturing enterprise which he conceptualized in 1993 and continues to spearhead today. From the company's inception he has been the strategic architect responsible for raising capital, assembling and directing a team of R&D engineers, establishing niche product opportunities such as lighter weight and recyclable materials tapping into OEM "green" initiatives, developing business plans for optimum market positioning, establishing efficient QA systems for complying with environmental and automotive process standards and procuring equipment and facilities to deliver to international markets. Under Mr. Ryan's leadership, Neocon was acquired in 2002 by Exco Technologies, Ltd., a publically traded TSX company. In recent years he has accepted awards on behalf of Neocon as Subaru's "Gold Supplier" of the year from 2008-2011, Honda's "Outstanding Supplier" award in 2011, and Nova Scotia's top export award in 2008. He has been noted as "inventor" on numerous patents in North America and Europe, working with notable industrial science firms such as DuPont, Exxon Mobile and Dow throughout his career. He is a P. Eng, and recipient of the APENS Award from the Atlantic Provinces Engineering Society as the most likely to serve society in an ethical manner. "We're very pleased to welcome Mr. Ryan to our Board," said Jim McKenzie, President and CEO of Ucore. "His background offers a unique blend of experience in large scale manufacturing, international trade, and strategic contracting in the transportation sector, a primary target of Ucore's Bokan product line. As our flagship heavy rare earth property at Bokan matures, this background will be invaluable to assessing opportunities and negotiating relationships of greatest benefit to Ucore shareholders." Commensurate with his appointment, Mr. Ryan will be granted 250,000 stock options, subject to the approval of the TSX Venture Exchange. The options are exercisable at a price of $0.29 per share and will expire five years from May 14, 2012, the date of the grant. One third of the options will vest six months after the date of the grant, with an additional third to vest every six months thereafter until fully vested.About Ucore Rare Metals Inc.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.Jim McKenzie, President and CEO 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.FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Jim McKenzieUcore Rare Metals Inc.President and Chief Executive Officer(902) 482-5214www.ucore.comNeither 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.