enCore Energy Corp. (NASDAQ:EU|TSXV:EU) (the “Company” or “enCore”), America’s Clean Energy CompanyTM, today provides an initial corporate update on its accelerated expansion plans at its South Texas uranium extraction operations.
William M. Sheriff, Executive Chairman of enCore Energy stated: “Our Alta Mesa asset remains our priority project and has proven highly successful in extracting uranium. The wellfield decline curve at Alta Mesa is quite steep achieving approximately 80% uranium capture in just over 4 months.
With this we see very quick recovery of uranium, however this necessitates a very aggressive drilling and well completion schedule which requires extra logistical emphasis, urgency and oversight in the continued development and expansion of the wellfield.
The board has directed management to implement an accelerated action plan to successfully achieve our uranium capture goals. Members of the board, led by Dr. Dennis Stover and the technical team, are on-site currently and committed to assisting and overseeing the implementation of this directive. Progress will be reported to enCore’s senior management on a daily basis during this initiative.”
Mr. Sheriff continued: “enCore has an exceptional technical team as evidenced by our successful start-up and operation of two Central Processing Plants and wellfields. Our senior management team, operating under the Board-led committee overseeing operations, is acting swiftly to meet our expectations to see more drilling, more wellfield installation, an increased permitting pace and more collaborative efforts to reach these milestones.”
enCore’s experienced operations team has extensive experience in the In-Situ Recovery (“ISR”) uranium sector and is fully engaged with the following steps already underway:
Significant Highlights:
- Dr. Dennis Stover, Director and former Chief Technical Officer, and one of the founders and world leaders of ISR technology, is now at site and working daily with the Chief Operating Officer, Peter Luthiger, to ensure efficient and effective implementation of the accelerated drilling program and aggressive extraction expansion plan;
- Mark Pelizza, Director, with over 40 years of permitting and regulatory experience in the ISR sector is now working with the technical team, charged with meeting with regulators at the State level to ensure that permitting proceeds as quickly as possible and does not slow progress;
- The Board of Directors is working with a leading global executive search firm to recruit for the position of Chief Executive Officer with a focus on identifying an elite business leader with deep corporate-level experience in the oil and gas or other extractive industries;
- Additional corporate updates will follow.
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 producer with multiple extraction facilities in operation.
The enCore team is led by industry experts with extensive knowledge and experience in all aspects of In-Situ Recovery 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 up on enCore’s demonstrated success in South Texas, future projects include the Dewey-Burdock Project in South Dakota and the Gas Hills Project in Wyoming.
The Company holds other non-core assets including significant New Mexico resources and conventional projects in Arizona, Utah, and Wyoming along with proprietary databases. enCore is committed to working with local communities and Indigenous governments to create positive impact from corporate developments.
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