Ucore Rare Metals Inc. (Ucore) is a junior exploration company engaged in the exploration and development of rare earth element (REE) and uranium properties. As of December 31, 2011, Ucore was focusing its exploration activities on its Bokan Mountain/Dotson Ridge property in Alaska, while allowing its Lost Pond property in the Province of Newfoundland and Labrador to be advanced pursuant to a property option agreement. Ucore owns a 100% interest in 422 claims at Bokan Mountain/Dotson Ridge and has the option to purchase a 100% interest in an additional 90 claims, and holds a 100% interest in the Sandybeach Lake property, located in southwestern Nunavut. In addition to the Lost Pond property, Ucore holds a portfolio of uranium properties spanning current and prospective uranium districts in Newfoundland and Labrador. During the year ended December 31, 2011, it acquired through physical staking and claim recording approximately 11,400 acres located in the Ray Mountains, Alaska.