ENCORE ENERGY SUPPORTS KEY TEXAS LEGISLATION

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Apr 04, 2023, 08:00 ET

CORPUS CHRISTI, Texas, April 4, 2023 /PRNewswire/ - enCore Energy Corp. ("enCore" or the "Company") (NYSE: EU) (TSXV: EU)) today announced that enCore's Chief Operating Officer, Peter Luthiger, testifies today before the Texas State House Committee on Natural Resources regarding two bills of importance to the uranium industry. Both bills are sponsored by Texas State Representative Ryan Guillen. Mr. Luthiger, who is also Chairman of the Texas Mining and Reclamation Association (TMRA), testifies both on behalf of enCore and TMRA's Uranium Mining Committee.

Bill HB 4119 would enhance the administrative procedure for permitting in-situ recovery (ISR) of uranium by clarifying the public's ability to participate in one fulsome and transparent hearing. Bill HB 4120 would allow the Texas Council on Environmental Quality (TCEQ) staff to inspect a proposed well site using aerial or satellite imagery, or other appropriate sources, rather than conducting an on-site visit. The bills would make the administrative process more efficient, reduce staff time and conserve groundwater that would otherwise be consumed in reclamation activities during the permitting process.

enCore Energy's Chief Executive Officer, Paul Goranson, stated "Working together with our Texas State Representatives and the Texas Mining and Reclamation Association is extremely important to enhance and improve our regulatory environment. While Texas is one of the most favorable states for in-situ recovery of uranium, we always seek ways to work together to ensure we maintain Texas as a leading jurisdiction. At all times enCore seeks to work to ensure our company leads the way to provide the people of Texas and the United States with a reliable and environmentally-responsible source of material for nuclear energy, fueling the future."

For more information about Texas State bills HB4119 and HB4120 please visit:
HB 4119 https://capitol.texas.gov/tlodocs/88R/billtext/html/HB04119I.htm
HB 4120 https://capitol.texas.gov/tlodocs/88R/billtext/html/HB04120I.htm

About the Texas Mining and Reclamation Association (TMRA)
The Texas Mining and Reclamation Association (TMRA) is a single voice for the Texas mining industry that exhibits integrity, clarity and vision in its efforts to create balance between mineral production, environmental protection, economic strength and public welfare; and to inform the public, regulators and legislators of the value of mining to the Texas economy and lifestyle.

About enCore Energy Corp.
enCore Energy Corp. is committed to providing clean, reliable, and affordable domestic nuclear energy by becoming the next United States uranium producer in 2023. enCore solely utilizes In-Situ Recovery (ISR) for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. In-Situ Recovery extracts uranium in a non-invasive process through the use of natural groundwater and oxygen, coupled with a proven ion exchange process, to recover the uranium. Uranium production is planned at enCore's licensed and past-producing South Texas Rosita Processing Plant in 2023, and at its licensed and past-producing South Texas Alta Mesa Processing Plant in 2024. Future projects in enCore's production pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, along with significant uranium resource endowments in New Mexico providing long-term opportunities. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore diligently works to realize value from other owned assets, including our proprietary uranium database that includes technical information from many past producing companies, from our various non-core assets, and by leveraging our ISR expertise in researching opportunities that support the use of this technology as applied to other metals. enCore is also committed to working with local communities and indigenous governments to create positive impact from corporate developments.

Cautionary Note Regarding Forward-Looking Statements: Certain information contained in this news release, including: any information relating to the Company being a leading uranium company; 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 legislation (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 companies' 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; that results of past mining operations at the Alta Mesa and Rosita sites are indicative of the results of proposed mining activities at those sites; that a production decision will result in actual production commencing and that such production will be economically viable over time; 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 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; 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 companies' 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 placed 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.

SOURCE enCore Energy Corp.