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November 30, 2020

Rare Earth Prices are Firming and Trending Upwards – Market Commentary

Vancouver, British Columbia: Canada Rare Earth Corp.  (“Canada Rare Earth” or the “Company”) (TSX.V: LL) observes strong market fundamentals for rare earths.

Peter Shearing, Chief Operating Officer of Canada Rare Earth stated, “Driven in large measure by the increasing demand for rare earths in cleantech applications such as electric vehicles, wind power and electronics the prices of rare earths are trending upwards. We foresee ongoing and sustained increases in demand that is causing a supply deficit for some rare earths.  This is particularly evident in the international marketplace (rest of world outside of China – “ROW”) where we are focusing our concentrate sourcing, production and refinery initiatives.”

The market for rare earth materials formed a solid base in 2020 and the market is seeing price increases reflecting this base.  The potential for increased prices is as potentially strong as it was in 2011 when prices increased 10 to 40 times due to geo-political tensions.

Tracy A. Moore, Chief Executive Officer of Canada Rare Earth remarked, “We are planning for price increases in the short, medium and longer term although not to 2011 levels. If achieved, these projected price increases bode well for rare earth refineries including the refineries we are in the process of permitting, negotiating to purchase and developing (“CREC Refineries”). The CREC Refineries are capable of separating the entire spectrum of commercially traded rare earths including the high-profile elements neodymium (Nd), praseodymium (Pr) and, uniquely in the ROW, dysprosium (Dy) and terbium (Tb).”

There can be no assurance that prices will continue to maintain their levels or increase or that the Company will be successful in completing the acquisition and/or development of refineries.

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.
FOR FURTHER INFORMATION PLEASE CONTACT:

Tracy A. Moore

Chief Executive Officer

tmoore@canadarareearth.com

Peter Shearing

Chief Operating Officer 

pshearing@canadarareearth.com

Telephone: (604) 638-8886

Website:  www.canadarareearth.com

 

 
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