Canada Rare Earth Corporation

January 29, 2021

Canada Rare Earth Director Repositions from Director to Advisor as Business Development Accelerates

Vancouver, British Columbia: Canada Rare Earth Corp.  (“Canada Rare Earth” or the “Company”) (TSX.V: LL) reports the resignation of William Purcell from the board of directors for personal reasons and his continuation as an advisor to the Company.

Tracy A. Moore, CEO of Canada Rare Earth remarked, “Bill has been a member of the board of directors for over five years and we are appreciative of his perspectives and  contributions. Bill continues with the Company as an advisor which will require less of his time as Canada Rare Earth aggressively expands its integrated rare earth business in Southeast Asia, Australia, South America and Africa. We are fully expecting our foreseeable future to be dynamic and  require considerable time, effort and attention of our team members.”

About Canada Rare Earth Corp.

Canada Rare Earth is developing an international supply network based on proprietary, affiliated and third-party mineral sources and existing, developing and planned processing facilities. We are generating revenues and gross profits from the sale of rare earths and connected mineral products.

On behalf of the Board

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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