An anonymous director reports

ENCORE ENERGY PROVIDES Q1/24 ATM SALES UPDATE; SUSPENDS ATM PROGRAM

EnCore Energy Corp. issued a total of 495,765 common shares, between the period of Jan. 1, 2024, and March 31, 2024, under the at-the-market (ATM) controlled equity offering program. The shares were issued through the facilities of the TSX-V and Nasdaq at an average share price of $4.05 (U.S.) per share for gross proceeds of $2,008,256.36 (U.S.) with a commission of $50,206.42 (U.S.) paid to the agent. The last settlement date was Jan. 16, 2024.

The company also advises it has suspended its ATM program with a remaining balance of approximately $18.7-million (U.S.) of common shares available for sale. The company does not anticipate further sales under the ATM program in light of its current cash on hand of approximately $80-million (U.S.), zero debt, revenue from continuing operations at the Rosita in situ recovery uranium central processing plant (CPP) and expected near-term production revenue from the Alta Mesa CPP.

About EnCore Energy Corp.

EnCore Energy, America's clean energy company, is committed to providing clean, reliable and affordable fuel for nuclear energy as the newest uranium producer in the United States. Uranium production commenced at EnCore's licensed and past-producing south Texas Rosita Central in situ recovery uranium processing plant in November, 2023, with work under way for a planned 2024 restart of uranium production at its licensed and past-producing South Texas Alta Mesa CPP. The EnCore team is led by industry experts with extensive knowledge and experience in all aspects of 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. ISR extracts uranium in a well field using natural groundwater and oxygen, coupled with a proven ion exchange process, to recover the uranium.

Future projects in EnCore's production pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming, along with significant uranium resource endowments in New Mexico providing long-term opportunities. EnCore diligently works to realize value from other owned assets, including its proprietary uranium database, which includes technical information from many past-producing companies, from its various non-core assets, and by leveraging the company's ISR expertise in researching opportunities that support the use of this technology as applied to other metals. EnCore is also committed to working with local communities and indigenous governments to create positive impact from corporate developments.

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