enCore Energy Extends Uranium Mineralization 3,700 Feet at Alta Mesa East

NASDAQ: EU
TSXV: EU
www.encoreuranium.com

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company^TM, today shared positive results from initial exploration drilling tests conducted on its Alta Mesa East ("AME") property, which is immediately adjacent to the Alta Mesa wellfields and extraction operations.

Exploratory drilling tests are designed to outline mineralization, which will guide the Company's efforts in permitting and expanding In-Situ Recovery ("ISR") operations into the AME from the existing Alta Mesa operations. These initial results have confirmed uranium mineralization extending more than 3,700 feet to the east from the nearest wellfield.

William M. Sheriff, Executive Chairman of enCore, said, "Our initial drill results from Alta Mesa East have reconfirmed our expectations of encouraging uranium grades across all major mineralized sand units known to exist at Alta Mesa. Uranium extraction efforts from these sand units at the Alta Mesa wellfields have generated solid results, including current operations at wellfield 7. An aggressive drill program is underway with additional results pending."

To view the Alta Mesa Wellfield maps, please visit: Alta Mesa Maps

Alta Mesa East Project Drilling Update

Exploration drilling at enCore's 5,900-acre AME Project is well underway and continues to advance with 6 drilling rigs in operation. The AME Project targets the continuation of productive roll fronts from Alta Mesa wellfields 1, 3, 3EXT, 4, 5B, and 7. Overall, exploration efforts are focused on mineralization within the designated B sands, Middle C sands (MCL & MCU in the table), Lower C sands (LCL & LCU in the table), and potentially the D sands in the northeast areas.

Initial exploration drilling is typically conducted on 400 and 500 foot centers with closer offsets in mineralized areas. Seven widely spaced east-west fences of drilling are underway for overall regional characterization. Drilling is averaging a total depth of approximately 600 feet below the surface. Exploration drilling has discovered mineralization within the Middle C sands at a depth on average between 400 and 460 feet, and within Lower C sands between 480 and 520 feet below surface. The final results are reported for the initial 17 holes, which include six holes ranging from 0.351 to 2.297 Grade Thicknesses ("GT"). GT of 0.3 is considered suitable for inclusion in a wellfield. Of the 17 holes reported, 10 were mineralized.

Significant Alta Mesa East Wellfield Results

• All reported intercepted mineralization lies within the Pliocene Goliad Formation. Holes with less than 2 ft of 0.02% U₃O₈ are not reported in the table.
• The Company has identified four saturated (required for ISR) mineralized sandstone horizons within the Pliocene Goliad Formation lying approximately 400 to 520 feet below the surface. The water level is located approximately 180 feet below the surface.
• ISR recoverable uranium with a Grade Thickness of >0.3 is considered suitable for inclusion in a wellfield.

John M. Seeley, Ph.D., P.G., C.P.G., enCore's Vice President of Exploration and Production, and a Qualified Person under Canadian National Instrument 43-101 and U.S. Securities and Exchange Commission 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 uranium, primarily to fuel the U.S. nuclear energy future. enCore's team is led by industry experts with extensive knowledge and experience in all aspects of uranium ISR operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a minimally intrusive, eco-friendly, and economically competitive approach to mineral extraction technology co-developed by enCore's leadership.

Building on enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, 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 impacts from corporate projects.

Cautionary Note Regarding Forward-Looking Statements:

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 "becomes," "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, the Company's prospects, the Company's decisive action plan, 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, and our commitment to working with local communities and indigenous governments to create a positive impact from corporate projects 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, Quarterly Reports on Form 10-Q, management's discussion and analysis, and annual information form. 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 press release, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company 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 press release are expressly qualified by this cautionary statement.

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 press release.

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SOURCE enCore Energy Corp.