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To: LoneClone who wrote (170110)

2/15/2023 1:34:06 PM

From: LoneClone

Respond to of 192593

Canada Silver Cobalt Provides Update on Spin-Out of Graal Nickel Property into Coniagas Battery Metals and Appoints Coniagas Directors and Officers

newsfilecorp.com

Coquitlam, British Columbia--(Newsfile Corp. - February 15, 2023) - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company", "Canada Silver Cobalt" or "CCW") is pleased to provide an update on the previously-announced spin-out of the Graal property in Quebec into a separate public company called Coniagas Battery Metals Inc. ("Coniagas"), currently a wholly-owned subsidiary of CCW (see CCW press release - October 4, 2022). The Board of Directors of CCW has approved proceeding with the spin-out by way of plan of arrangement under the Canada Business Corporations Act. In connection with the plan of arrangement, approximately 37% of the shares of Coniagas will be distributed to the shareholders of CCW by way of special dividend, consisting of approximately 11.7 million shares, each accompanied by one-half of a common share purchase warrant.

The closing of this transaction is subject to a number of conditions, including court, shareholder and regulatory approval, including that of the TSX Venture Exchange, and the listing of Coniagas on a Canadian stock exchange. CCW intends to call a special meeting of shareholders to approve the plan of arrangement and will file and distribute a management information circular with full details of the proposed transaction.

Frank J. Basa, B.Eng., P.Eng., CEO of CCW, who will become President and CEO of Coniagas, stated: "It is the Company's intention to develop Coniagas into a premier supplier to the EV market. Coniagas' significant land package in northern Quebec, positive drill results, and the province's supportive approach to resource development provides confidence that our shareholders are well positioned in CCW and Coniagas."

"With respect to CCW, it is on its way to becoming a pure precious-metal play," Frank J. Basa further commented. "The two main silver and gold properties held by CCW are in mining friendly historical jurisdictions. Castle East has had eight high-grade silver vein structures identified and, with ongoing work, has the potential to identify additional mineralized structures. Silver grades of 89,000 gpt silver have been drilled at Castle East. Eby-Otto, the Company's gold prospect, is on the Larder Lake-Cadillac Break and is next to the high grade Maccassa mine in Kirkland Lake, Ontario where the Company has recently completed a preliminary drill program where assays are still pending. CCW has also been accumulating shares in a company with an advanced gold deposit that is permitted for production with a positive PFS as a potential acquisition."

The Graal Property

The Graal Property is a grassroots Nickel-Copper-Cobalt (Ni-Cu-Co) exploration property located in northern Quebec, approximately 160 km north-west of the town of Saguenay. The overall size of the property is 6,113 hectares and results from claim staking, a property acquisition from a SOQUEM/Mines Coulon joint-venture, and an option agreement with Globex Mining Enterprises Inc.

The Graal Property lies within the Grenville geologic province and contains ultramafic to mafic magmatic type rocks belonging to the Lac-Saint-Jean suite - one of the largest anorthositic complexes in the world. The types of deposits expected in this geological setting are Fe-Ti-P and/or Ni-Cu-PGE and are caused by the immiscibility of specific elements/components within the cooling of magma during geological deposition. The mineralization typically consists of sulphides such as pyrrhotite, chalcopyrite, pentlandite, and various amounts of pyrite.

Over the last two years, the Company has completed various types of exploration work on the Graal Property including airborne magnetic/gravity geophysics, ground SQUID geophysics, borehole EM geophysics, and 16,794.60m of diamond drilling since its acquisition in late 2020. The exploration program, and the airborne geophysics in particular, had identified a large gravity anomaly in the heart of the property. Further geophysics including SQUID and borehole EM surveys were completed to further understand the nature of the anomaly and identified a large EM conductor that is approximately 6km in length. Diamond drilling was completed to test specific locations within the multiple geophysical anomalies within the property. The drilling returned various amounts of Nickel-Copper-Cobalt, with minor amounts of Platinum-Palladium.

Historical drilling prior to the acquisition had previously indicated a potential target of near-surface tonnage of 30 to 60 million tonnes with a grade range of 0.60-0.80% nickel, 0.30-0.50% copper and 0.10-0.15% cobalt in the MHY section along the 6 km EM corridor. This calculation is conceptual in nature and there has been insufficient exploration to define the resource, but it highlights the overall potential of the deposit given the historic grades (excluding the 2021-2022 drilling) and size of the property. The drill results of Phase 1 of the diamond drilling have been publicly released, some of the highlights are listed in Table 1 below.

Table 1: Result Highlights from the Phase 1 2021-2022 Drilling:

DDH	From (m)	To (m)	Length (m)	Ni %	Cu %	Co%	Pt g/t	Pd g/t
NRC-21-03	138.30	144.00	5.70	0.84	0.59	0.09	0.03	0.03
Including	138.30	142.40	4.10	1.15	0.27	0.12	0.04	0.04
NRC-21-15	56.30	62.10	5.80	0.43	0.43	0.05	-	0.00
Including	57.30	57.90	0.60	1.22	0.43	0.08	-	0.08
Including	57.90	58.50	0.60	0.36	1.62	0.00	-	0.03
Including	61.60	62.10	0.50	0.28	0.12	0.07	0.20	0.00
NRC-21-18	83.00	88.20	5.20	0.48	0.38	0.06	-	0.04
NRC-22-24	121.50	152.10	30.60	0.39	0.40	0.05	-	-
NRC-22-24	121.50	129.20	7.70	0.61	0.34	0.07	-	-
Including	122.50	123.50	1.00	1.35	1.16	0.14	-	-
NRC-22-24	142.80	152.10	9.30	0.72	0.86	0.09	-	-
NRC-22-26	135.00	140.80	5.80	0.57	0.41	0.08	-	-
Including	137.00	137.70	0.70	1.02	0.66	0.13	-	-

Some Historic Drill Results:

Intercepted 0.84% Ni, 0.50% Cu and 0.10% Co over 10.20m including 1.03% Ni, 0.49% Cu and 0.13% Co over 3.00m in hole 1279-00-08 (GM 58807, Roy 2001).

Intercepted 1.03% Ni and 0.80% Cu over 10.25m including 1.06% Ni and 2.75% Cu over 1.50m in hole 1279-03-40 (GM 60730, Roy 2003).

Intercepted 1.15% Ni, 0.56% Cu and 0.15% Co over 4.50m in hole 1279-00-10 (GM 58807 Roy 2001, Francoeur 1998).

Figure 1: Map of location, claims, and several drill intercepts from historic and 2021-2022 drilling

To view an enhanced version of this graphic, please visit:
images.newsfilecorp.com

Coniagas Battery Metals Directors & Executive Officers

CCW also announces that the following people have been appointed as directors and executive officers of Coniagas.

Ron Goguen - Independent Director

Ron Goguen became Chairman & CEO of Colibri Resource Corporation in July 2017. Colibri Resource Corporation has been a public company since 2004 and is a junior gold mining company. Mr. Goguen purchased his first exploration drilling company, Ideal Drilling, in 1980. In 1981, he added a second exploration drilling company and increased sales and net income significantly. Those companies were combined to become Major Drilling Group International Inc., a publicly traded company that has traded on the TSX since 2015. Mr. Goguen served as President and Chief Executive Officer until 2000 and during this time was a key driving force in building Major Drilling into one of the largest mineral drilling service companies in the world (33 operations in 15 countries).

Since leaving Major Drilling in 2000, Mr. Goguen has served as the President of Royal Oaks Real Estates Inc. and Royal Oaks Golf & Country Club. He has been a member of the Board of Directors of Northeast Bank since 1990. During 2006, Mr. Goguen was appointed Chairman of the Board for Beaver Brook Antimony Mine Inc., and he remained so until bringing the operation into production in 2008. Beaver Brook is the largest antimony mine outside of China. In 1995, Mr. Goguen was named Atlantic Canada's Entrepreneur of the Year as presented by Governor General of Canada.

William D. Macdonald - Independent Director

William D. Macdonald is a former Director and Logistics Mexican Manager of Landdrill International Inc., a Mexican-based company engaged in providing drilling services throughout Mexico and Nicaragua. The company offers various drilling services including diamond, reverse circulation, residential well, geotechnical, and environmental drilling. Mr. Macdonald is presently a director of Colibri Resource Corporation, a junior mining company. He is also a director of Canadian Gold Resources Ltd. Mr. Macdonald was also Chief Executive Officer of LEM Manufacturing, a manufacturer of drilling equipment.

Dianne Tookenay - Independent Director

Dianne Tookenay is a band member of Brunswick House First Nation in Ontario. She has been involved with the topic of Aboriginal Consultation and Accommodation since 2007 and has served as a director of pubic companies in mining exploration in the past as well. She holds a Certificate in Mining Law from the Osgoode Hall Law School - York University, a Masters of Public Administration from the University of Manitoba, a Bachelor of Administration from Lakehead University, Native Band Management Diploma and Indian Economic Development Diploma from Confederation College Applied Arts and Technology. Ms. Tookenay has accumulated a wide breadth of business development and advocacy roots within the First Nation communities which will be of significant value to Coniagas' development now and in the coming years.

Aurelian Basa - Director

Aurelian Basa has spent nearly a decade engaged in the natural resources industry and has travelled extensively throughout Asia, Africa, and Europe in this capacity. Most recently, he has secured feed sources for the Re-2Ox Process including high-grade tailings projects, recycled batteries, and battery metal deposits abroad.

In his current role, Aurelian advances 'Metals-as-a-Service (MaaS)', a platform connecting commodity traders to responsible sources of critical metals supported through ongoing relationships with European metal traders and Asian battery manufacturers.

Aurelian holds a Bachelor's degree in Geography with a specialization in Planning and the Environment from Concordia University in Montreal, Quebec. He also manages Resource Active Media, a digital content agency tailored to publicly traded mining companies.

Isabelle Gauthier - Chief Financial Officer

Isabelle Gauthier has over 20 years of accounting, transactional and reporting experience. She holds a B.A. in Administration from Université du Québec à Montréal (UQAM) and she has been a member of the Ordre des Comptables professionnels agréés du Québec since 1998. She held the position of Senior Manager within the firm Raymond Chabot Grant Thornton for which she worked as an Auditor from 1996 to 2006. She has developed an expertise in public companies, primarily in the mining sector. Through her involvement in various assignments, she acquired solid experience in consolidation of foreign entities, reverse take-over and spinout and financial reporting.

Gerhard Kiessling, P.Geo. - Vice President Exploration

Gerhard Kiessling joined the Company in 2020 and has served as both an exploration geologist and exploration manager before being promoted to Vice President Exploration. Mr. Kiessling has built an excellent team within Canada Silver Cobalt, and his high standard of work, organization, and managing skills have greatly improved the Company's internal organization. The Company believes he will continue to bring his work ethic to and will be an asset to Coniagas Battery Metals. He graduated from the University of Waterloo in 2016 where he majored in Earth Science and has spent over six years working in the mining industry for companies such as Agnico Eagle, Kirkland Lake Gold, First Cobalt and McEwen Mining before joining Canada Silver Cobalt.

Qualified Person

The technical information in this news release was approved and prepared under the supervision of Mr. Frank J. Basa, B.Eng., P.Eng., CEO of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.

In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.

The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 15,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it is exploring.

Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com.

"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer

For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

Neither the 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 news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com.

To: LoneClone who wrote (170110)

2/15/2023 1:43:58 PM

From: LoneClone

Read Replies (1) | Respond to of 192593

enCore Energy Completes Alta Mesa Acquisition; 3rd Licensed In-Situ Recovery Uranium Plant in South Texas

newswire.ca

enCore Energy Corp. Feb 15, 2023, 06:00 ET

NYSE American:EU
TSXV: EU
www.encoreuranium.com

FUELING THE FUTURE IN THE UNITED STATES

CORPUS CHRISTI, Texas, Feb. 15, 2023 /CNW/ - enCore Energy Corp. ("enCore" or the "Company") (NYSE American: EU) (TSXV: EU) is pleased to announce the closing of the acquisition of the Alta Mesa In-Situ Recovery uranium project from Energy Fuels Inc. (the "Alta Mesa Acquisition"). The transaction provides enCore with three licensed uranium in-situ recovery (ISR) processing plants and positions enCore as a leading US-focused ISR uranium company with the proven management expertise required to advance multiple production opportunities within its portfolio.

Transaction Highlights
Alta Mesa includes a fully-licensed and constructed ISR processing facility that has an operating capacity of 1.5 million pounds of uranium per year. Between Alta Mesa, Rosita and Kingsville Dome, all fully licensed for production, enCore's ISR processing facilities have a combined potential processing capacity of 3.6 million pounds of uranium per year.

Alta Mesa is host to a measured and indicated resource of 3.41 million lbs U3O8 (1.57 million tons at an average grade of 0.109% U3O8) and an inferred resource of 16.79 million lbs U3O8 (7.0 million tons at an average grade of 0.120% U3O8). Abundant exploration upside exists within the Alta Mesa land package around the existing defined resource areas, which enCore will prioritize;

Alta Mesa will diversify enCore's South Texas operations into a 3rd fully licensed production facility, along with Rosita and Kingsville Dome, all located in the business-friendly state of Texas. enCore's mid- and long-term production potential is further fueled by a pipeline of projects with Dewey-Burdock in South Dakota, Gas Hills in Wyoming and additional projects in New Mexico. There are only 11 licensed production facilities in the United States;

Alta Mesa is currently on standby and ready to resume production. The facility can reach commercial production levels with limited required capital within an estimated 10 months of a production decision;

Control of a large private land package totaling 203,292 contiguous acres, including 4,575-acres currently under a lease and mining permit and 198,717 acres under a lease-option and exploration/testing permit;

The acquisition will further cement enCore's position as a dominant ISR uranium company and near term future producer in the US;

Alta Mesa's operations are located on private land, with 100% of minerals privately owned, and in a supportive jurisdiction with primary regulatory authority residing with the State of Texas;

The Alta Mesa ISR processing facility is a fully permitted and constructed past-producing ISR operation, with a previous well-established track record of lower cost uranium production. The project is fully permitted for uranium extraction upon installation of the next wellfield;

Alta Mesa has extensive exploration potential across an area that has previously identified uranium mineralization;

Alta Mesa produced a total of 4.6 million pounds of uranium between October 2005 and November 2013, including 1 million pounds of uranium per year over a two-year period;

With low holding costs, Alta Mesa provides fully permitted lower-cost production scalability that can be brought into production quickly to provide a domestic energy source for the United States.

Conference Call: The Company will host an online conference call on Wednesday, February 22nd, 2023 at 11:00 AM ET. To register for the presentation please log in at: c212.net

To view the Alta Mesa project maps and enCore Energy's South Texas projects please visit: c212.net.

William M. Sheriff, Executive Chairman of enCore, stated "Alta Mesa is a key acquisition in enCore's development into the dominant ISR uranium producer in the state of Texas. With its more immediate plan of restarting Rosita in later 2023 and greatly expanding its production profile with the start-up of Alta Mesa in early 2024 our goal of becoming a 3 million pound per year domestic producer from a consolidated base of operations within a 100 mile radius of Corpus Christi, Texas is well underway. This Texas platform positions the company well for its continued growth not only in Texas, but with planned operations in South Dakota, Wyoming and ultimately New Mexico. We are all looking forward to a dynamic and rewarding 2023. On behalf of the Board of Directors we extend congratulations to the enCore team for a major achievement."

Paul Goranson, CEO and Director of enCore, further added "With the completion of this transaction enCore is more than doubling our production capacity in South Texas. As we advance towards our Q3/23 production goal at our Rosita ISR Uranium Processing Plant we will commence work at the Alta Mesa Project with plans to restart production in 2024 with installation of a fully permitted wellfield. The strong technical team at enCore is excited to get started at Alta Mesa. Our collective South Texas operations puts us on the path to becoming a leading producer of uranium in the U.S."

Alta Mesa
The Alta Mesa project is a fully licensed and constructed ISR project and central processing facility currently on standby, located on over 203,000 acres of private land in the state of Texas. Total operating capacity is 1.5 million lbs U3O8 per year. Alta Mesa historically produced nearly 5 million lbs of U3O8 between 2005 and 2013, when full production was curtailed as a result of low uranium prices at the time. enCore will immediately pursue the resumption of operations.

Alta Mesa & Mesteña Grande Mineral Resource Summary (0.30 GT cut-off)2	Tons ('000)	Avg. Grade (% U3O8)	Pounds ('000)
Total Measured Mineral Resource1	54	0.152	164
Alta Mesa Indicated Mineral Resource	1,397	0.106	2,959
Mesteña Grande Indicated Mineral Resource	119	0.120	287
Total Measured & Indicated Resources	1,570	0.109	3,410
Alta Mesa Inferred Mineral Resource	1,263	0.126	3,192
Mesteña Grande Inferred Mineral Resource	5,733	0.119	13,601
Total Inferred Resources	6,996	0.120	16,793

1 Represents that portion of the in-place mineral resource that are estimated to be recoverable within existing wellfields. Wellfield recovery factors have not been applied to indicated and inferred mineral resources.

2 As reported in the NI-43-101 Technical Report Summary for the Alta Mesa Uranium Project, Brooks and Jim Hogg Counties, Texas, USA completed by Doug Beahm, PE, PG, of BRS Engineering. (Effective January 19, 2023).

The Transaction
The Consideration paid to Energy Fuels consisted of US$60 million in cash and a US$60 million secured vendor take-back convertible promissory note (the "Note"). The Note has a two (2) year term and bears interest at a rate of 8% per annum payable on June 30th and December 31st of each year during the term. The Note is convertible at the election of the holder, to acquire common shares of enCore at a price of US$2.9103 per share. Energy Fuels has agreed not to transact with the common shares of enCore received on conversion of the Note, including hedging and short sales, with exceptions for sale transactions of up to US$10 million in value in any 30-day period, block trades and underwritten distributions. In addition, Energy Fuels has agreed to standard standstill provisions restricting additional acquisitions of enCore securities.

Additional information regarding the Alta Mesa Project acquisition, is available in the Company's news release dated November 14, 2022.

In connection with the closing of the Alta Mesa Acquisition, 23,277,000 subscription receipts issued December 6, 2022 at a price of C$3.00 per Subscription Receipt (the "Subscription Receipt Offering") were automatically converted into units comprised of one common share of enCore and one common share purchase warrant, with each warrant entitling the holder thereof to acquire one common share of enCore at a price of C$3.75 for a period of 3 years until February 14, 2026. The net proceeds from the Subscription Receipt Offering of approximately C$66 million, after deduction of fees and commissions, have been released from escrow to the Company, and were applied to fund the cash portion of the consideration payable by the Company pursuant to the Alta Mesa Acquisition.

For additional information regarding the Subscription Receipt Offering, please see the Company's news release dated December 6, 2022.

Additionally, further to the Company's news release dated February 8, 2023 announcing the closing of the offering of units for proceeds of C$34.5 million, the Company advises that it paid cash commissions to Canaccord Genuity Corp. (C$1,065,756.17), Cantor Fitzgerald Canada Corporation (C$659,753.82), and Haywood Securities Inc. (C$304,501.76). For additional information regarding the unit offering, please see the Company's news release dated February 8, 2023.

John M. Seeley, Ph.D., P.G., CPC, enCore's Manager of Geology and Exploration, and a Qualified Person under NI 43-101, has reviewed and approved the technical disclosure in this news release on behalf of enCore.

About enCore Energy Corp.
enCore Energy is the most diversified In-Situ Recovery (ISR) uranium development company in the United States and is focused on becoming the next uranium producer in 2023 from its licensed and past-producing South Texas Rosita Processing Plant. The Alta Mesa Project is scheduled to come online in 2024 and position enCore as a leading US-focused ISR uranium company with the proven management expertise required to advance multiple production opportunities within its portfolio. The South Dakota-based Dewey-Burdock project and the Wyoming Gas Hills project offer mid-term production opportunities, with significant New Mexico uranium resource endowments 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 is committed to engaging and working with local communities and indigenous governments to create positive impact from corporate developments.

NI-43-101 Technical Report Summary for the Alta Mesa Uranium Project, Brooks and Jim Hogg Counties, Texas, USA completed by Doug Beahm, PE, PG, of BRS Engineering. (Effective January 19, 2023).

Neither the 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.

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; the ability of the Company to produce and process uranium from its projects including the Alta Mesa, Rosita and Kingsville Dome projects, and to realize the expected benefits of the Alta Mesa Acquisition; 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; risks associated with accessing additional funding required for the transactions and operations discussed in this news release; the Company's ability to advance production and processing at the Alta Mesa Project and other facilities; 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 mining personnel, the results of exploration and development activities; 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; the potential for losses arising from the expansion of operations into new markets; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry 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.

For further information: please contact: William M. Sheriff, Executive Chairman, 972-333-2214, info@encoreuranium.com, www.encoreuranium.com