New Uranium Mineralized Roll Fronts Discovered Adjacent to Existing Wellfields at the Alta Mesa In-Situ Recovery Uranium Project

Executive Summary

• enCore Energy announced the discovery of multiple new uranium‑mineralized roll fronts adjacent to existing wellfields at its Alta Mesa ISR Uranium Project in Texas.
• The newly identified mineralization lies 320–345 ft below surface (≈200 ft shallower than previously exploited zones), offering shorter drill times, reduced cement and casing requirements, and significant cost savings.
• Initial drilling intercepts show several high‑grade zones (e.g., 0.277 % U₃O₈ over 5.5 ft) that meet the company’s ISR suitability threshold (Grade Thickness > 0.3).

Key Details

• Discovery Scope: At least three areas of new roll fronts identified through re‑analysis of historic drill data; follow‑up drilling is ongoing to delineate extents.
• Wellfield Impacts:
• One roll front advanced to permitting as “Wellfield 3 Extension.”
• Two new roll fronts added to Wellfield 4 permit, each > 2,500 ft long and included in existing authorization.
• Additional expansion noted south of Wellfield 1.
• Depth & Cost Advantages: New mineralization at 320‑345 ft (≈200 ft shallower than prior zones) reduces drilling footage, cement usage, and casing intervals, lowering development costs.
• Water Table: Approx. 120 ft below surface; four saturated sandstone horizons identified within the B Sand of the Goliad Formation—required for ISR operations.

• Current Drilling Intercepts (selected):

• Hole 148.5‑94.6 B: Depth 335.5 ft, Thickness 5.5 ft, Grade 0.277 % U₃O₈, Grade‑Thickness 1.522.

• Hole 147.4‑95.3 B: Depth 329 ft, Thickness 8.5 ft, Grade 0.154 % U₃O₈, GT 1.13.
• Hole 147.7‑93.9 B: Depth 340.5 ft, Thickness 4.5 ft, Grade 0.18 % U₃O₈, GT 0.811.

• Historic Hole 142.8‑95.5 B: Depth 321 ft, Thickness 4.5 ft, Grade 0.10 % U₃O₈, GT 0.45.

• Future Work: Granular re‑analysis to continue through year‑end; delineation drilling into 2026. A major drill program on the recently acquired Alta Mesa East Property is slated to start in the next few weeks.

• Qualified Person: John M. Seeley, Ph.D., VP Exploration & Production, signed off under NI 43‑101 and SEC S‑K 1301.
• Equity Grants (non‑material): Concurrently announced RSU awards to directors/officers (60k RSUs vesting in 1 yr; 948,031 RSUs over 2 yrs; 767,789 RSUs over 3 yrs).

Notable Quotes

(No direct CEO/President quotes were provided in the release.)