Canada Rare Earth Corporation

June 1, 2020

Canada Rare Earth – South American Advisory Board Appointments

Vancouver, British Columbia: Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSX.V: LL) is pleased to announce the appointment of the initial members of the Company’s South American Advisory Board, set up to help guide the Company through its expansion plans in South America. Both Ian Gordon Hall Dun and Simon Rosental have extensive experience that will provide the Company with a wealth of knowledge as it grows its business in South America. 

Chris Goodman, Canada Rare Earth’s Managing Director for South America said, “The addition of Ian and Simon to our South American Advisory Board demonstrates our commitment to building our presence in South America. We look forward to their involvement in the development of the South American components of CREC’s integrated supply chain spanning from sourcing of raw material through to production of rare earth products in oxide and metal form. We expect further additions to our Advisory Board over the coming months." 

Ian Gordon Hall Dun has been involved in the mining and mineral processing industry for over 45 years having worked in Peru and Brazil since 1977, the United Kingdom and four countries in Africa. From 2008 to 2015 Ian held a senior management position as Director of the Mineracão Taboca S.A. which is the Brazilian arm of Minsur S.A.  Since 2015 he has worked independently through his own consulting company. Ian earned his B.Sc. engineering degree in mineral technology from the Royal School of Mines, Imperial College, London University in 1971 and completed his M.Sc. in earth sciences at the Leeds University in 1972.

Simon Rosental is a Brazilian national with a degree in chemical engineering from the University of Brazil. Simon has held senior management positions including Industrial Director of Nuclemon, a rare earth producer and a subsidiary of Nuclebras / Industrias Nucleares Do Brasil (“INB”). INB is organizationally linked to the Brazilian Ministry of Mines and Energy. Its activities are licensed and inspected by the Brazilian Nuclear Energy Commission and the Brazilian Institute for the Environment and Renewable Resources. He has been on the Board of Directors of the Brazilian Nuclear Quality Institute and of TÜV Nord Brasil. Simon is a Professor for the MBA course on Security and Defense, at the Catholic University of Petrópolis (UCP) and a Professor Scientific in the Technological and Innovation Affairs department of Escola Superior de Guerra where he was awarded the Marshal Cordeiro de Faria Medal of Merit, awarded in 2010 for services.

On other corporate matters the Company confirms that it recently settled $8,870 of debt by the issuance of 177,400 shares at a deemed price of 0.05per share.

On behalf of the Board,