Historic estimates on (a) Ambrosia Lake used circle tangent method and cut-off grades ranging from 0.03% to 0.10% over variable intervals and on a per section basis (b) Juan de Foya used polygonal method and a cut-off grade of 0.05% over a six foot interval (c) West Largo did not include a cutoff grade and used a general outline method described by the US Atomic Energy Commission and (d) Nose Rock used polygonal method and a cutoff grade of 0.07% over a six foot interval. To view historic mineral estimates please visit: Properties being acquired with significant in place historic uranium mineral estimates include the Nose Rock, West Largo and Ambrosia Lake projects in McKinley County and the Juan Tafoya project in Cibola, McKinley and Sandoval Counties.Ī summary of the significant historic mineral estimates follows: The New Mexico assets in the transaction include more than 175,000 acres of deeded mineral estate (formerly the Santa Fe railroad “checkerboard” land grant), 4200 acres of surface and/or mineral leases and 1200 acres of mining claims, encompassing much of the uranium-rich Grants mineral belt shown on the attached map, as well as an extensive and comprehensive database. The Westwater acquisition, combined with enCore’s already existing large New Mexico holdings, will on closing make the company the dominant holder of high-quality uranium properties in New Mexico. The package also includes several key mineralized leaseholds with excellent exploration potential and deposits on which historic mineral estimates exist, an extensive Texas database, and key equipment including PFN logging trucks, resin transfer trucks and remote ion exchange facilities. Each facility has an operating capacity of 800,000 pounds U 3O 8 per year.

Both facilities were established to process Ion Exchange resin from multiple satellite facilities.

Two licensed Texas uranium production facilities are being acquired, the Kingsville plant in Kleberg County, Texas and the Rosita plant in Duval County, Texas. To view maps of the property acquisitions please visit: This coupled with geologic characteristics well suited to ISR creates exceptional opportunities for enCore Energy Corp.” “While active exploration in the district has long been curtailed by market conditions, south Texas remains underexplored and one of the most prospective in the country for further uranium discoveries. It is not a coincidence that modern commercial in-situ recovery (ISR) operations originated in South Texas,” added enCore Energy’s Chief Executive Officer, Dennis Stover. “As market conditions continue to improve, we look forward to updating the Rosita, Texas processing facilities and restarting uranium production in one of the most favorable uranium districts in the United States.

In addition to the key acquisition of licensed production facilities in Texas, enCore will hold the leading land position in New Mexico, consolidating the large Santa Fe and Frisco railroad “checkerboard” mineral rights land grant running through most of the Grants mineral belt. Our experienced and accomplished management team believes that a major change is coming in the uranium market in the next 12 to 24 months. Sheriff, Executive Chairman of enCore Energy stated, “This transformational acquisition will on completion be the first significant step building enCore into a domestic uranium producer. This acquisition will more than double the Company’s current mineral rights and holdings with historical mineral estimates, and add two already licensed uranium production facilities. These assets include two two licensed Texas-based uranium production facilities, mineral exploration leases in Texas, and more than 270 square miles (180,000 acres) of patented mineral rights in New Mexico with four projects containing significant historical mineral estimates. (Nasdaq: WWR) (“Westwater”) to acquire all of Westwater’s United States uranium assets. (TSXV:EU OTCQB:ENCUF) (the “ Company”) is pleased to announce that effective Septemit has entered into a binding letter of intent (“Agreement”) with Westwater Resources Inc. 09, 2020 (GLOBE NEWSWIRE) - enCore Energy Corp.

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