NASDAQ:EU
TSXV:EU
www.encoreuranium.com
DALLAS, March 6,
2025 /CNW/ - 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.
www.encoreuranium.com
Cautionary Note Regarding Forward Looking
Statements:
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 and Canadian securities laws that are based on management's
current expectations, assumptions, and beliefs. Forward-looking
statements can often be identified by such words as "expects",
"plans", "believes", "intends", "continue", "potential", "remains",
and similar expressions or variations (including negative
variations) of such words and phrases, or statements that certain
actions, events or results "may", "could", or "will" be taken.
Forward-looking statements and information that are not statements
of historical fact include, but are not limited to, any information
relating to statements regarding future or potential extraction,
and any other statements regarding future expectations, beliefs,
goals or prospects, statements regarding the success of current and
future ISR operations, including projects in our pipeline, our
accelerated wellfield development and uranium extraction plans, the
ability to complete and expected timing of completion of
permitting, the ability and timing of recruiting a new qualified
chief executive officer should be considered forward looking
statements. All such forward-looking statements are not guarantees
of future results and forward-looking statements are subject to
important risks and uncertainties, many of which are beyond the
Company's ability to control or predict, that could cause actual
results to differ materially from those expressed in any forward
looking statement, including those described in greater detail in
our filings with the SEC and on SEDAR+, particularly those
described in our Annual Report on Form 10-K, annual information
from and MD&A. Forward-looking statements necessarily involve
known and unknown risks, including, without limitation, risks
associated with assumptions regarding timing and schedule of the
projects, general economic conditions; adverse industry events;
future legislative and regulatory developments; the ability of
enCore to implement its business strategies; 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 personnel, the results of exploration and
development activities; extraction 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; adverse market
conditions, the failure to satisfy ongoing regulatory requirements
and factors relating to forward looking statements listed above.
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.sedarplus.ca.
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.
