NASDAQ:EU
TSXV:EU
www.encoreuranium.com
DALLAS, Sept. 12,
2024 /PRNewswire/ - enCore Energy Corp.
(NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"),
a uranium producer, today provides an update on the regulatory
progress for the Company's 100% owned Dewey-Burdock In-Situ
Recovery ("ISR") Uranium Project located near Edgemont, South Dakota. The Dewey-Burdock
Project has received its Source Material License from the U.S.
Nuclear Regulatory Commission ("NRC"), its Aquifer Exemption and
its Class III and V Underground Injection Control ("UIC") Permits
from the U.S. Environmental Protection Agency ("EPA") Region 8.
These three Federal approvals have been subject to appeal by the
Oglala Sioux Tribe ("OST"). The Company announced on March 20, 2023 that the NRC Source Material
License was final when the OST chose not to appeal the decisions by
the D.C. Circuit Court of Appeals to the U.S. Supreme Court. On
September 3, 2024, the Environmental
Appeals Board ("EAB") of the EPA issued its ruling on the OST
appeal regarding the Dewey- Burdock Class III and V UIC Permits.
The EAB decision is consistent with the ruling by the D.C. Circuit
Court of Appeals where both appeals involved similar issues.
Paul Goranson, Chief Executive
Officer stated: "This is another significant milestone for
advancing the Dewey-Burdock Project, and it remains consistent with
the prior outcome from the U.S. NRC. We believe that the portion of
the Order remanding back to EPA Region 8 is administrative and will
not significantly impact the overall timing to advance the
Dewey-Burdock project."
In summary, the EAB decision:
- Reiterated the EAB 2023 decision denying OST claims and finding
that EPA complied with the National Historic Preservation Act
("NHPA") Section 106;
- Denied OST claims and found that EPA complied with NHPA Section
110;
- Denied OST claims that EPA failed to comply with the National
Environmental Protection Act (NEPA);
- Reserved judgment on other OST claims until EPA expands the
administrative record by adding documents, considers those
additional materials, responds to related comments, takes further
appropriate action in reissuing the permit decisions;
- The EAB remanded the reserved issues to EPA and specified that
any appeals challenging the reissued permit decisions will be
limited to the issues reserved in the remand and any modifications
to the permits made as a result of the remand.
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 production facilities
in operation. The enCore team is led by industry experts with
extensive knowledge and experience in all aspects of In-Situ
Recovery ("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 production success in
South Texas, future projects in
enCore's production pipeline include the Dewey-Burdock project in
South Dakota and the Gas Hills
project in Wyoming. The Company
holds other assets including significant New Mexico resources, non-core assets and
proprietary databases. enCore is committed to working with
local communities and indigenous governments to create positive
impact from corporate developments.
www.encoreuranium.com
Cautionary Note Regarding Forward Looking
Statements:
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Certain information contained in this news release,
including: any information relating to the Company being a leading
uranium company, statements regarding future or potential
production, and any other statements regarding future expectations,
beliefs, goals or prospects; may constitute "forward-looking
information" and "forward-looking statements" within the meaning of
applicable Canadian and United
States securities laws and regulations (collectively,
"forward-looking statements"). All statements in this news release
that are not statements of historical fact (including statements
containing the words "expects", "is expected", "does not expect",
"plans", "anticipates", "does not anticipate", "believes",
"intends", "estimates", "projects", "potential", "scheduled",
"forecast", "budget" and similar expressions or variations
(including negative variations) of such words and phrases, or
statements that certain actions, events or results "may", "could",
"would", "might" or "will" be taken) should be considered
forward-looking statements. All such forward-looking statements are
subject to important risk factors and uncertainties, many of which
are beyond the company's ability to control or predict.
Forward-looking statements necessarily involve known and unknown
risks, including, without limitation, risks associated with general
economic conditions; adverse industry events; future legislative
and regulatory developments; the ability of enCore to implement its
business strategies; including achieving expected levels of
production at Rosita and Alta Mesa in the planned time frame or at
all; and other risks. A number of important factors could cause
actual results or events to differ materially from those indicated
or implied by such forward-looking statements, including without
limitation exploration and development risks, changes in commodity
prices, access to skilled mining personnel, the results of
exploration and development activities; production risks; uninsured
risks; regulatory risks; defects in title; the availability of
materials and equipment, timeliness of government approvals and
unanticipated environmental impacts on operations; litigation
risks; risks posed by the economic and political environments in
which the Company operates and intends to operate; increased
competition; assumptions regarding market trends and the expected
demand and desires for the Company's products and proposed
products; reliance on industry equipment manufacturers, suppliers
and others; the failure to adequately protect intellectual
property; the failure to adequately manage future growth; adverse
market conditions, the failure to satisfy ongoing regulatory
requirements and factors relating to forward looking statements
listed above which include risks as disclosed in the Company's
annual information form filings. Should one or more of these risks
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, believed,
estimated or expected. The Company assumes no obligation to update
the information in this communication, except as required by law.
Additional information identifying risks and uncertainties is
contained in filings by the Company with the various securities
commissions which are available online at
www.sec.gov and www.sedar.com.
Forward-looking statements are provided for the purpose of
providing information about the current expectations, beliefs and
plans of management. Such statements may not be appropriate for
other purposes and readers should not place undue reliance on these
forward-looking statements, that speak only as of the date hereof,
as there can be no assurance that the plans, intentions or
expectations upon which they are based will occur. Such
information, although considered reasonable by management at the
time of preparation, may prove to be incorrect and actual results
may differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement.
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SOURCE enCore Energy Corp.
