NEWS RELEASE 21-19 - enCore Energy Corp. Announces Clarification on Uranium Sales Agreement News Release

Rhea-AI Summary

enCore Energy Corp. (OTCQB: ENCUF) has clarified its plans to advance its South Texas uranium facilities towards production. The company executed a uranium sales agreement covering 2 million pounds of U₃O₈ at market-related prices over a 5-year period starting in 2023. This initiative aligns with enCore's strategy to leverage its ISR uranium production capabilities, focusing on opportunities created by a shifting global supply and demand landscape while engaging with local communities in New Mexico.

Positive

• Executed a uranium sales agreement for 2 million pounds of U3O8.
• Sales agreement spans a 5-year period starting in 2023.
• Company focused on advancing South Texas uranium facilities towards production.

Negative

• None.

TSX.V: EU
OTCQB:ENCUF
www.encoreenergycorp.com

CORPUS CHRISTI, Texas, Aug. 4, 2021 /PRNewswire/ - enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) (the "Company")   announces, for greater clarity, as stated in the August 4, 2021 news release, the Company's objective is to advance its South Texas uranium facilities towards production and as such has executed a uranium sales agreement. The Agreement covers a total of 2 million pounds U₃O₈ at market related prices over a 5-year period starting in 2023.

About enCore Energy Corp.

enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy's opportunities are created from the Company's transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation.  These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources.

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SOURCE enCore Energy Corp.

FAQ

What is the recent uranium sales agreement by enCore Energy Corp (ENCUF)?

enCore Energy Corp has executed a uranium sales agreement for 2 million pounds of U3O8 at market-related prices over five years, starting in 2023.

How will the uranium sales agreement impact enCore Energy Corp's production plans?

The uranium sales agreement is aimed at advancing enCore Energy Corp's South Texas uranium facilities towards production.

What is the significance of in-situ recovery for enCore Energy Corp (ENCUF)?

In-situ recovery is a key focus for enCore Energy Corp as it positions itself as a leading uranium producer.

When will enCore Energy Corp's uranium sales agreement begin?

The uranium sales agreement will start in 2023.