enCore Energy Announces Expansion of the Alta Mesa Uranium Project
NASDAQ:EU
TSXV:EU
www.encoreuranium.com
DALLAS, Aug. 18, 2025 /PRNewswire/ - enCore Energy Corp. (NASDAQ:EU) (TSXV:EU) (the "Company" or "enCore"), America's Clean Energy CompanyTM, today announced the acquisition of a 5,900 acre parcel of private land ("Tacubaya") located immediately adjacent to, and east of, enCore's Alta Mesa historic and producing wellfields and Central Processing Plant ("Alta Mesa Uranium Project"). Tacubaya is expected to provide additional feed and longevity for the Alta Mesa In-Situ Recovery ("ISR") Uranium Central Processing Plant ("CPP").
William M. Sheriff, Executive Chairman of enCore Energy, stated: "On behalf of the Board, I extend our congratulations to our land department which worked for many months to assemble this strategic land acquisition that significantly expands the Alta Mesa Uranium Project. The compelling geology and location, immediately adjacent to, and on-trend with, our active and past wellfields make this a key acquisition for enCore. We will begin an aggressive exploration program, following up on mineralization discovered by Chevron in the late 1970's, which lies along projected trends extending from several of the wellfields at Alta Mesa."
Highlights for the Tacubaya acquisition include:
- Over 5,900 acres of private land consisting of mineral and surface leases with private parties located immediately adjacent to, and east of, enCore's Alta Mesa Uranium Project;
- Tacubaya is a part of the Alta Mesa Uranium Project joint venture ("JV") between enCore Energy (70%) and Boss Energy Ltd. (30%);
- Tacubaya's uranium mineralization occurs as roll fronts in multiple stacked sands within the Goliad Formation just as it does at the Alta Mesa Uranium Project;
- Historical drilling completed by Chevron Minerals during the late 1970's discovered multiple uranium roll fronts located at various depths within multiple sand units interpreted to be the lower C, middle C, B and A sands, all of which have been, or are currently productive, at the Alta Mesa Uranium Project;
- Additional exploration will be required to fully explore and delineate uranium mineralization on Tacubaya;
- Projected continuation of productive roll fronts from Alta Mesa Wellfields 1, 3, 4, 5B and the currently operating Wellfield 7; and
- Initial exploration to include a 200-hole drilling program beginning in two key areas utilizing several rigs. Two rigs will begin in October 2025, with an additional two drill rigs being added as the program progresses.
To view the project map, please visit: https://shorturl.at/sBh69
About the Alta Mesa ISR Uranium CPP and Wellfield ("Alta Mesa Uranium Project")
The Alta Mesa Uranium Project hosts a fully licensed and operational ISR Central Processing Plant and operational wellfield located on 200,000+ acres of private land and mineral rights in and regulated by the state of Texas. Total operating capacity at the Alta Mesa CPP is 1.5 million pounds uranium per year with additional drying capacity of 0.5 million pounds. The Alta Mesa Uranium Project operates under a 70/30 joint venture with Boss Energy Limited which is managed by the Company.
The Alta Mesa Uranium Project utilizes well known ISR technology to extract uranium in a non-invasive process using natural groundwater and oxygen. Currently, oxygenated water is being circulated in the wellfield through injection or extraction wells plumbed directly into the primary pipelines feeding the Alta Mesa CPP. Expansion of the wellfield will continue, with extraction to steadily increase from the wellfield as expansion continues through 2025 and beyond. The Alta Mesa CPP historically produced nearly 5 million pounds of uranium between 2005 and 2013 when production was curtailed as a result of low prices.
John M. Seeley, Ph.D., P.G., C.P.G., enCore's Chief Geologist, and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company.
About enCore Energy Corp.
enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium company with multiple central processing plants in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of In-Situ Recovery ("ISR") uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy. enCore operates the 100% owned and operated Rosita CPP in South Texas and the Alta Mesa CPP & Project under a 70/30 joint venture with Boss Energy Ltd.
Following upon enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The Company holds other assets including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments.
Cautionary Note Regarding Forward Looking Statements:
Neither 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 press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions, and beliefs. Forward-looking statements can often be identified by such words as "expects", "plans", "believes", "intends", "continue", "potential", "remains", and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", or "will" be taken.
Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any information relating to statements regarding future or potential extraction, and any other statements regarding future expectations, beliefs, goals or prospects, statements regarding the success of current and future ISR operations, including projects in our pipeline, our development plans, the anticipated timeline for starting exploration drilling related to Tacubaya, anticipated synergies of Tacubaya with the Alta Mesa Uranium Project, our future extraction plans and expectations and our commitment to working with local communities and indigenous governments to create positive impact from corporate developments should be considered forward looking statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risks and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward looking statement, including those described in greater detail in our filings with the SEC and on SEDAR+, particularly those described in our Annual Report on Form 10-K, annual information from and MD&A. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with assumptions regarding project economics; discount rates; expenditures and the current cost environment; timing and schedule of the projects, general economic conditions; adverse industry events; 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 personnel, the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment, timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; 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. 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.sedarplus.ca. 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 based 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.
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SOURCE enCore Energy Corp.