License Received For Upper Spring Creek ISR Uranium Project

DALLAS, TX  - enCore Energy Corp. reported the approval for the inclusion of the Upper Spring Creek In-Situ Recovery (ISR) Uranium Project in the existing Radioactive Materials License (RML) from the TCEQ (Texas Commission on Environmental Quality). This license allows enCore to handle radioactive materials, which includes the final product, U3O8 ("uranium"). The current RML includes the Rosita Uranium Project, which has now been extended to cover the Upper Spring Creek Project's Brown Area.  The RML allows the construction of wellfields and a Satellite Ion Exchange (IX) Plant to commence, which will feed the Rosita ISR Uranium Central Processing Plant (CPP). These Satellite IX Plants, located adjacent to wellfields, are a key part of the satellite ISR process; they are modular, efficient, and relocatable, allowing for cost-effective uranium extraction across multiple remote sites which can be moved once a wellfield is depleted. The RML is scheduled for renewal in 2032, provided the Project's operation remains in compliance.  The RML provides safety, material handling, record keeping and reporting protocols.

William M. Sheriff, Executive Chairman, said, "The receipt of the RML, allowing enCore to build its next remote Satellite Ion Exchange Plant and wellfield in a timely manner from application, is a testament to the efficiency of the Texas Commission on Environmental Quality. The ability to operate and issue these critical permits under authority of being an Agreement State in conjunction with the U.S. Nuclear Regulatory Commission is a clear competitive advantage for enCore.  This is our third permitted facility in Texas with each of our preceding permits having been granted in 20 months or less.  The Upper Spring Creek Project brings important uranium mineralization into the operations of the Company, and we look forward to recovering (capturing) increasing amounts of uranium from late this year into 2026. On behalf of the Board, I want to thank our dedicated team for bringing this project to the point of permit application and issuance. We have the utmost confidence in them completing the new construction soon.”