Canada Rare Earth Corporation

Canada Rare Earth Presents Development Strategy at a Public Forum in Brazil

April 12, 2022

VANCOUVER, BRITISH COLUMBIA - Canada Rare Earth Corp. ("Canada Rare Earth" or the "Company") (TSX.V: LL) recently participated in public forum meeting with the Governor of the State of Rondonia, Brazil to discuss the Company’s plans for developing operations in Rondonia. On behalf of Canada Rare Earth, Peter Shearing, Chief Operating Officer and Dr. Dorival Carvahlo Pinto, Managing Director for Brazil, presented a summary of the Company’s near and long term plans to the audience including the Governor, his cabinet, members of the public, and members of the press.

The Governor was particularly interested in informing the public of the Company’s intentions; the short, intermediate and longer term plans; and the impact and benefits of those activities on the community.

Canada Rare Earth’s presentation highlighted:

• The initial focus on establishing mining operations to extract valuable ores contained in the tailings stockpile derived from over 25 years of mining. The tailings are situated on 590 hectares leased by the Company for 25 years.
• By reclaiming minerals including rare earths, cassiterite, ilmenite, and zircon from the tailings, Canada Rare Earth will not require an environmental impact study nor an additional mining license. The reclamation processing will help treat waste left behind by previous mining activities.
• These initial operations will involve both wet and dry processing operations to produce separate mineral streams and will process over 10,000 mt per day once in full operation.
• The second phase will entail the development of a rare earth chemical concentrate plant to further refine the stockpile ore. The planned concentrate is a valuable and highly sought after feedstock suitable for rare earth separation facilities. The development and construction of this facility is estimated to take 12 to 24 months.
• The third phase entails the development of a rare earth separation refinery for the production of rare earth oxides and metals which are used in numerous high-profile applications such as electric vehicles, wind turbines, electronics and batteries to name a few. This facility will leverage the initial two development stages. Presently the Company is evaluating the scope and feasibility of the potential rare earth separation facility to ensure that all the necessary inputs can be sourced and are economically viable.
• Rare earth separation technology and capabilities are largely dominated by China and the establishment of a rare earth processing separation facility in Brazil will have a significantly positive impact on the industrial market for rare earth dependent products.
• It is expected that each of the Company’s initiatives will create a significant number of direct jobs, an even larger number of in-direct employment, many business opportunities in Rondonia and in Brazil, and increase corporate tax base for the community.

The Governor and his cabinet were very appreciative of the presentation and of the plans and consequential benefits to the community at large and the local citizens.

The Company will be issuing 1,500,000 stock options to officers and directors of the Company . These options vest over 18 months and are exercisable at 7 cents per share for five years.ABOUT CANADA RARE EARTH CORP.

Canada Rare Earth Corp. is developing an international vertically integrated business within the global rare earth industry. Our key focus is to generate revenues and positive cash flow from a variety of profit centres in the rare earth production and sales chain by sourcing, adding value and selling rare earths in all stages and forms. We are in the process of establishing our own mining, concentrating and refinery capabilities in addition to working with affiliated and third party organizations.
ON BEHALF OF THE BOARD OF DIRECTORS OF CANADA RARE EARTH CORP:

Tracy A. Moore, CEO and Peter Shearing, COO 

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. Forward-looking statements in this release are made pursuant to the ‘safe harbour’ provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.

For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
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