Announcement • Jun 04
Encore Energy Announces Completion of Construction At the Upper Spring Creek Isr Uranium Project EnCore Energy Corp. announced the completion of the first phase of construction on the Upper Spring Creek In-Situ Recovery Uranium Project's Satellite Remote Ion Exchange Plant. Construction of the first production wellfield, which will feed the IX Plant, is also nearing completion and will begin uranium extraction once final permits are received. The currently constructed portion of the satellite can process 1,600 gallons per minute through the facility. This represents 50% of the satellite's planned flow capacity. The plant's flow capacity is in the process of being doubled. Before the end of June, 75% of the flow capacity is expected to be completed, and the plant is expected to be at 100% capacity by the end of July (3,200 gallons per minute total capacity). The new plant will be capable of producing from the first Upper Spring Creek Project area once connected to the wellfields currently under construction. Drilling activities for the first 800-gallons per minute module are complete, and wellfield infrastructure for this entire module is nearly completed. Drilling and infrastructure activities for three other 800 gallons per minute modules are well underway. Module 2 drilling activities are approximately 90% complete. The 100% Company-owned Project consists of a Satellite IX Plant and wellfield and is a key component of enCore's larger South Texas Uranium Project. This satellite facility will operate in conjunction with multiple future potential production units within the historic Clay West uranium district. The Project was previously held by Signal Equities LLC, which licensed and permitted the property as an ISR uranium project. Key elements of their permit were maintained, including the aquifer exemption. Their work ceased following continued low uranium spot prices. In December 2020, the Company acquired the Project. The uranium-mineralized sands associated with the Project area lie within the Oakville Formation. These historic uranium-producing sands stretch across an area of approximately 120 miles long by approximately 20 miles wide in South Texas. The saturated uranium-mineralized ore body at the Project typically occurs at depths between 300 and 450 feet below the surface, allowing for efficient and economical uranium recovery with ISR methods. A Satellite IX Plant uses ion-exchange technology that begins with injecting a lixiviant, consisting of groundwater mixed with oxygen, into the wellfield, where it dissolves uranium from underground sandstone. The uranium-bearing water is then pumped to the surface and cycled through the nearby Satellite IX Plant, where uranium is absorbed onto resin beads. The IX resin is then transported to enCore's Rosita Central Processing Plant, where the uranium is stripped from the resin, and the stripped resin is returned and reused. The water is refortified with oxygen and recycled back into the formation. This 50-year-old process is closely monitored and has been verified by the Texas Commission on Environmental Quality. For more than five decades, it has been proven to be environmentally safe and very efficient to operate. EnCore's Satellite IX Plants are located near wellfields and are a key component of the ISR uranium extraction process. These modular, efficient IX Plants have a short installation time, enable cost-effective operation across multiple sites without constructing full Central Processing Plant facilities at each site, and can be relocated to support additional uranium recovery. The Rosita Central Processing Plant receives uranium-loaded resin transported from enCore's South Texas Satellite IX Plants. The Central Processing Plant removes the uranium from the resin and processes it into yellowcake. Once processed, the resin is recycled and transported back to the Satellite IX Plants for reuse. Dain McCoig, P.E., MBA, enCore's Chief Operating Officer, and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company. Announcement • Jun 02
Encore Energy Shares Positive Results from Initial Exploration Drilling Tests At Alta Mesa East EnCore Energy Corp. shared positive results from initial exploration drilling tests conducted on its Alta Mesa East (AME) property, which is immediately adjacent to the Alta Mesa wellfields and extraction operations. Exploratory drilling tests are designed to outline mineralization, which will guide the Company's efforts in permitting and expanding In-Situ Recovery (ISR) operations into the AME from the existing Alta Mesa operations. These initial results have confirmed uranium mineralization extending more than 3,700 feet to the east from the nearest wellfield. Exploration drilling at enCore's 5,900-acre AME Project is well underway and continues to advance with 6 drilling rigs in operation. The AME Project targets the continuation of productive roll fronts from Alta Mesa wellfields 1, 3, 3EXT, 4, 5B, and 7. Overall, exploration efforts are focused on mineralization within the designated B sands, Middle C sands (MCL & MCU in the table), Lower C sands (LCL & LCU in the table), and potentially the D sands in the northeast areas. Initial exploration drilling is typically conducted on 400 and 500 foot centers with closer offsets in mineralized areas. Seven widely spaced east-west fences of drilling are underway for overall regional characterization. Drilling is averaging a total depth of approximately 600 feet below the surface. Exploration drilling has discovered mineralization within the Middle C sands at a depth on average between 400 and 460 feet, and within Lower C sands between 480 and 520 feet below surface. The final results are reported for the initial 17 holes, which include six holes ranging from 0.351 to 2.297 Grade Thicknesses (GT). GT of 0.3 is considered suitable for inclusion in a wellfield. Of the 17 holes reported, 10 were mineralized. Significant Alta Mesa East Wellfield Results: Drill Hole Number Goliad Sandstone Horizon Dept (ft) Grade%U3O8 Thickness (ft) Grade Thickness (GT) Total Drill Hole GT 12-9 MCL 442.0 0.118 2.5 0.294 12-8 MCL 429.5 0.164 14.0 2.297 12-15 LCL 502.0 0.108 5.0 0.682 12-7 MCU 413.0 0.158 7.0 1.106 12-7 LCL 500.0 0.068 3.0 0.205 1.311 12-21 MCU 415.0 0.152 4.0 0.705 12-41 MCU 415.0 0.181 5.5 0.995 15-1 MCL 429.5 0.078 4.5 0.351 12-6 MCU 406.0 0.036 2.5 0.095 12-6 LCU 494.0 0.027 2.5 0.068 0.163. All reported intercepted mineralization lies within the Pliocene Goliad Formation. Holes with less than 2 ft of 0.02% U3O8 are not reported in the table. The Company has identified four saturated (required for ISR) mineralized sandstone horizons within the Pliocene Goliad Formation lying approximately 400 to 520 feet below the surface. The water level is located approximately 180 feet below the surface. 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. Recent Insider Transactions • May 22
Executive Chairman recently bought CA$201k worth of stock On the 19th of May, William Sheriff bought around 100k shares on-market at roughly CA$2.01 per share. This transaction amounted to 7.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. William has been a buyer over the last 12 months, purchasing a net total of CA$39k worth in shares. 
