On behalf of the Board of Directors we extend congratulations to the enCore team for a major achievement.' We are all looking forward to a dynamic and rewarding 2023. 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. 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. 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. To view the Alta Mesa project maps and enCore Energy's South Texas projects please visit. To register for the presentation please log in at: 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.Ĭonference Call: The Company will host an online conference call on Wednesday, February 22 nd, 2023 at 11:00 AM ET.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.Alta Mesa has extensive exploration potential across an area that has previously identified uranium mineralization.The project is fully permitted for uranium extraction upon installation of the next wellfield 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.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 acquisition will further cement enCore's position as a dominant ISR uranium company and near term future producer in the US.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 facility can reach commercial production levels with limited required capital within an estimated 10 months of a production decision Alta Mesa is currently on standby and ready to resume production.There are only 11 licensed production facilities in the United States 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. Alta Mesa will diversify enCore's South Texas operations into a 3 rd fully licensed production facility, along with Rosita and Kingsville Dome, all located in the business-friendly state of Texas.Abundant exploration upside exists within the Alta Mesa land package around the existing defined resource areas, which enCore will prioritize Alta Mesa is host to a measured and indicated resource of 3.41 million lbs U 3O 8 (1.57 million tons at an average grade of 0.109% U 3O 8) and an inferred resource of 16.79 million lbs U 3O 8 (7.0 million tons at an average grade of 0.120% U 3O 8).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 includes a fully-licensed and constructed ISR processing facility that has an operating capacity of 1.5 million pounds of uranium per year.

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