Eagle Nuclear Energy Announces Plans to Conduct a 27,000 Ft Drill Program To Advance Aurora Toward a Pre-Feasibility Study

RENO, Nev., April 01, 2026 (GLOBE NEWSWIRE) -- Eagle Nuclear Energy Corp. ("Eagle" or the "Company") (NASDAQ:NUCL), a next-generation nuclear energy company which owns the largest conventional, measured and indicated uranium deposit in the United States, today announced its intention to conduct a 27,000 ft drill program at its flagship Aurora Uranium Project ("Aurora" or the "Project") located along the Oregon–Nevada border, this summer.

Following the recommendations of a comprehensive "Gap Analysis" study completed by Eagle's resource consultants, BBA USA Inc. ("BBA"), the limited drill program has been designed to address data gaps at Aurora in order to advance the Project toward a Pre-Feasibility Study ("PFS"). Specifically, the drill program has been formulated to achieve the following objectives:

• Resource expansion and definition;
• Resource classification enhancement;
• Advanced metallurgy and process flow-sheet design;
• Rock mechanics and geotechnical analysis for pit engineering; and
• Hydrogeological analysis.
  
  

The samples and data generated from the drill program will feed into the individual studies stated above, which in turn will collectively form the bulk of the eventual PFS. Management has been working very closely with BBA and Eagle's permitting manager, SLR International Corporation ("SLR"), since September, 2025 to meticulously plan this drill program.

The drill program is scheduled to commence in early July and shall consist of 47 diamond drill holes, collectively totaling 27,000 ft of drilling. Every drill hole will be surveyed by a gamma probe in order to get a detailed downhole radiometric log in addition to chemical assays from the drill core itself. A few specific drill holes have also been earmarked for an Acoustic Televiewer survey that will provide detailed structural geology information relevant to resource delineation and advanced pit engineering. Six of the 47 drill holes have been designated to provide hydrogeological data for the deposit, including information on groundwater elevation and flow-rates.

Eagle's VP of Operations, Vishal Gupta, stated, "While each drill hole has been assigned a primary purpose, it has also been carefully crafted to concurrently fulfill additional secondary and tertiary goals, thereby limiting the size of the overall drill program without compromising on any of its objectives. It was imperative for us to have an integral contribution to the planning process for this drill program from both BBA and SLR, since these two firms have been tasked to help Eagle take Aurora through to the PFS stage from a technical and a permitting perspective, respectively."

Eagle's management has sent Requests for Proposals ("RFPs") to numerous drilling contractors in order to secure drill rigs in time to commence the drill program in early July. It is anticipated that the entire drill program will be completed in a 3-4 month time-frame using 2-3 drill rigs. Eagle has requested track-mounted drill rigs with above-ground mud systems in order to avoid digging sumps and reduce overall surface disturbance. The PFS is slated to be completed in the second half of 2027.

Aurora anchors Eagle's long-term strategy to develop a vertically integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology. As global demand for nuclear power accelerates and the U.S. looks to strengthen domestic fuel supply chains, the company believes Aurora is positioned to become a strategic source of uranium for the next generation of nuclear energy.

About Eagle Nuclear Energy Corp.

Eagle Nuclear Energy Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project's overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

For more information about Eagle Nuclear Energy Corp., visit www.eaglenuclear.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "strategy," "future," "opportunity," "may," "target," "should," "will," "would," "will be," "will continue," "will likely result," "preliminary," or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Eagle's, or its management team's expectations concerning the Business Combination and expected benefits thereof; the outlook for Eagle's business; the ability to execute Eagle's strategies and reach permitting and operational milestones timely or at all; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle. The forward-looking statements are based on the current expectations of the management teams of Eagle, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Business Combination on Eagle's business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle's securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle's securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle's operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle's ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle's exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle's ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle's property holdings; (xx) Eagle's ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that Eagle presently does not know or that Eagle currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the registration statement on Form S-4 initially filed by Eagle on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by Eagle from time to time, which may be found on the SEC's website at www.sec.gov. Eagle cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Eagle undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle will make additional updates with respect to that statement, related matters, or any other forward-looking statements.

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