We received from enCore Energy Corp. and we are glad to publish the following press release:
“Dallas, Texas – enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the “Company” or “enCore”), America’s Clean Energy Company™, announced today important new uranium discoveries have been made in areas in or near existing wellfields. These discoveries have been made as a result of a major ongoing re-analysis of thousands of historic drill holes from across the Alta Mesa In-Situ Recovery (“ISR”) Uranium Project that began in April 2025. This more granular and detailed evaluation has identified uranium mineralized roll fronts in at least three areas to date. Follow up drilling by enCore has delineated these new roll fronts with drilling continuing to determine the extents of each.
To view the project map, please visit: https://shorturl.at/wf2Wp
This additional roll front uranium mineralization has been discovered in close proximity to known and already exploited roll fronts. One of these new roll fronts has progressed such that it has now advanced to permitting as Wellfield 3 Extension. Mineralized roll fronts have also been found overlying the past productive mineralization in Wellfield 4 with at least two new roll fronts discovered to date, each extending more than 2500 feet in length with both included in the existing permit authorization. This newly discovered mineralization lies at a depth of 320 to 345 feet, almost 200 feet above the previously exploited roll front. This shallow mineralization makes for shorter drill times with less footage required, less cement and shorter casing intervals resulting in significant cost savings in delineation and extraction versus deeper mineralization. A third area extending south from the previously exploited mineralization in Wellfield 1 continues to expand with additional ongoing drilling.
This granular re-analysis of previous drill data is expected to continue through the end of the year with follow-up delineation drilling continuing into 2026. This drilling is in addition to the major drill program, expected to commence in the next few weeks, on the recently acquired Alta Mesa East Property (EU NR dated August 18, 2025) which hosts the extensions of roll front uranium mineralization from several of the Wellfields to the west on the established Alta Mesa Project.
Current and historical drilling highlights are shown below:
All intercepts listed above are located within the B Sand which hosts mineralization within the Goliad Formation. The Company has identified 4 saturated (required for ISR), mineralized sandstone horizons within the B Sand of the Goliad Formation lying approximately 320 to 345 feet below the surface. The water level is located approximately 120 feet below the surface. Grade Thickness is Grade % U3O8 multiplied by the thickness of the mineralization. ISR recoverable uranium with a Grade Thickness of >0.3 is considered suitable for inclusion in a wellfield.
John M. Seeley, Ph.D., P.G., C.P.G., enCore’s Vice President of Exploration and Production, and a Qualified Person under Canadian National Instrument 43-101 and U.S. Securities and Exchange Commission S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company.
The Company has also awarded equity-based grants under the 2024 Long-Term Incentive Plan (the “Plan”) to certain of its directors and officers. These grants consist of 60,000 restricted stock units (“RSUs”) that cliff vest in one (1) year, 948,031 RSUs to vest ratably over two (2) years, 767,789 RSUs that vest ratably over three (3) years, all of which are subject to the terms and conditions of the Plan.
About the Alta Mesa ISR Uranium CPP and Wellfield (“Alta Mesa Uranium Project”)
The Alta Mesa Uranium Project hosts a fully licensed and operational ISR Central Processing Plant and operational wellfield located on 200,000+ acres of private land and mineral rights in and regulated by the state of Texas. Total operating capacity at the Alta Mesa CPP is 1.5 million pounds uranium per year with additional drying capacity of 0.5 million pounds. The Alta Mesa Uranium Project operates under a 70/30 joint venture with Boss Energy Limited which is managed by the Company.
The Alta Mesa Uranium Project utilizes well known ISR technology to extract uranium in a non-invasive process using natural groundwater and oxygen. Currently, oxygenated water is being circulated in the wellfield through injection or extraction wells plumbed directly into the primary pipelines feeding the Alta Mesa CPP. Expansion of the wellfield will continue, with extraction to steadily increase from the wellfield as expansion continues through 2025 and beyond. The Alta Mesa CPP historically produced nearly 5 million pounds of uranium between 2005 and 2013 when production was curtailed as a result of low prices.
About enCore Energy Corp.
enCore Energy Corp., America’s Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple Central Processing Plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy.
Following upon enCore’s demonstrated success in South Texas, future projects in enCore’s planned project pipeline include the Dewey Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments”.
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