Vancouver, British Columbia--(Newsfile Corp. - January 3, 2024) - Canada Rare Earth Corp. (TSXV: LL) ("Canada Rare Earth" or the "Company") is pleased to announce the appointment of Mr. Donald Anderson as Chief Investment Officer (CIO), effective January 1, 2024.

Canada Rare Earth is excited to welcome Mr. Anderson as CIO, where he will play a pivotal role in driving the Company's growth and making strategic investment decisions within the rare earth and essential minerals industries. His appointment reinforces confidence in the Company's prospects and underscores its commitment to achieving strategic objectives.

CEO of Canada Rare Earth, Peter Shearing, expressed his enthusiasm, stating, "Don's extensive experience in both financial markets and entrepreneurship, particularly in Africa, aligns perfectly with our strategic goals. We believe his insights and leadership will contribute significantly to our success in the rare earth and essential minerals sectors. He is a highly valuable addition to Canada Rare Earth, and I expect him to take a central role in driving the Company's rapid growth."

Mr. Anderson's nearly three decades of successful experience in financial markets, investment management, and entrepreneurship will be a valuable asset to the organization as it transitions to owning, managing, and operating its proprietary sources of rare earths and other essential minerals. Currently a Partner at Moneta Capital Advisory, Mr. Anderson has also spent more than a decade in successful entrepreneurial ventures, including mining, mineral procurement, aircraft leasing, and intelligence/security, much of it in Africa. His tenure at Phillips, Hager & North, a prestigious Canadian investment management firm, highlights his proficiency in managing investment portfolios and making informed financial decisions. Mr. Anderson studied Economics at the University of Western Ontario, has completed coursework in Investment Decisions and Behavioral Finance at Harvard Kennedy School, and earned the Chartered Financial Analyst designation in 1999. Mr. Anderson's alignment with Canada Rare Earth's expansion goals is evident.

Mr. Anderson commented, "After nearly a year advising and working closely with the Company, I'm thrilled to join Canada Rare Earth. I believe my direct experience with sourcing and developing projects in Africa, on top of more than 20 years in global capital markets, can make a meaningful and near-term impact on the Company as it transitions to owning and managing its proprietary sources of rare earths and other essential minerals."