Canada Rare Earth Corporation

March 26, 2020

Canada Rare Earth Officers Exercise $250,000 of Stock Options

Vancouver, British Columbia: Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSX.V: LL) is developing an international supply chain business based on existing, developing and planned processing facilities; proprietary and third-party sources of feedstock; and our commodity-trading platform.

The Company is pleased to announce that Tracy A. Moore, CEO; Peter Shearing, COO; and Gordon J. Fretwell, Corporate Secretary have exercised options to purchase 5 million shares in consideration of $250,000.

The exercises confirm senior management’s confidence in Canada Rare Earth’s business and business development described in our recent news release of March 2, 2020.

During this challenging time with the COVID-19 pandemic impacting the world economy, Canada Rare Earth is continuing to make deliveries to customers and advance our strategic plans and projects while taking measures to protect its employees, their families, and partners.

We encourage stakeholders and interested parties to read our updated PowerPoint presentation found on our website: http://www.canadarareearth.com/

On behalf of the Board

Tracy A. Moore, CEO and Peter Shearing, COO

ABOUT CANADA RARE EARTH CORP.

Canada Rare Earth is developing an international supply network business based on our commodity-trading platform and existing, developing and planned processing facilities. We are generating revenues and gross profits as we develop our network based on the rare earth industry and with increasing attention directed to valuable by-products. Our business involves sourcing, adding value and selling rare earths and other mineral products in all stages and forms utilizing proprietary, affiliated and third-party sources and facilities.

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.

We seek Safe Harbor.

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