Canada Rare Earth Corp. — Board/Management Information 2021

Jul 20, 2021

TSX.V: LL

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HEAD OFFICE Suite 2110 - 650 West Georgia St. Vancouver, BC V6B 4N8 Tel +1 604 638 8886 www.canadarareearth.com

July 19, 2021

Canada Rare Earth Builds Its Global Trading Business and Appoints Head of Global Trading

Vancouver, British Columbia: Canada Rare Earth Corp. (“Canada Rare Earth” or the “Company”) (TSX.V: LL) is continuing to build its global trading business focused on technology materials centred around rare earths and is pleased to announce the appointment of Mr. Elyse Kohyann as Head of Global Trading.

Elyse Kohyann comes to Canada Rare Earth with a wealth of international commodity trading experience having managed over 15 years, billions of US dollars in trading turnover working for such companies as Trafigura, Rusal, and Concord Resources Ltd. and having traded with the major upstream and downstream players in the base metal industry. Based in Asia for the past decade, Mr. Kohyann has developed new markets and extended his global reach in the Middle East, Africa, Europe, and South America.

Tracy A. Moore, Chief Executive Officer of the Company explained, “As we have indicated in previous announcements, we are committed to building our global trading business. With the addition of Elyse to our team as a proven, experienced and capable trader and leader we are confident that the Company will accelerate the growth of its rare earth and complementary products trading business. We are extremely pleased to have Elyse join our team as the Head of Global Trading.”

Peter Shearing, Chief Operating Officer added, “Elyse joins Canada Rare Earth at a key point in the expansion of our business as we prepare for processing the Brazilian stockpile to produce multiple streams of commercially saleable products including cassiterite, zircon, ilmenite and rare earths. While the Company remains focused on creating value from the sourcing and processing of rare earths we view trading of rare earth and technology materials as a key pillar to increase our capabilities and extend our reach.”

Mr. Kohyann has in-depth experience in logistics and operations, metal and mining trading, arbitrage and derivatives trading and risk management. He is fluent in French and English, proficient in Spanish and German and has conversational Chinese spoken skills.

Mr. Kohyann stated, “I’m delighted to join Canada Rare Earth Corp. and to have the opportunity grow the company global trading book of rare earth and its related products. The increasing demand of green technologies and electronics will put pressure on the supply of rare earth and our vision is to become a market leader in our industry by providing the best services, operations, and solutions throughout the whole supply chain.”

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HEAD OFFICE Suite 2110 - 650 West Georgia St. Vancouver, BC V6B 4N8 Tel +1 604 638 8886 www.canadarareearth.com TSX.V: LL

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 the 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 Peter Shearing Chief Executive Officer Chief Operating Officer tmoore@canadarareearth.com pshearing@canadarareearth.com

Telephone: (604) 638-8886 Website: www.canadarareearth.com