Mr. William Sheriff reports

ENCORE COMPLETES SALE OF NEW MEXICO ASSETS TO VERDERA ENERGY CORP.

Further to its press release dated March 18, 2025, EnCore Energy Corp. has completed the sale of an EnCore subsidiary that holds the Crownpoint, Hosta Butte, Nose Rock, West Largo and Ambrosia Lake/Treeline uranium projects located in New Mexico to Verdera Energy Corp.

As consideration for the sale, EnCore received 50 million non-voting preferred shares of Verdera, representing approximately 73 per cent of the issued shares of Verdera on a fully diluted basis. In addition, EnCore received a 2-per-cent royalty on uranium and other minerals from the properties and $350,000 (U.S.) as a cash payment.

The company and Verdera have also entered into a side letter dated April 4, 2025, pursuant to which the company agreed to consent to a going-public transaction by Verdera in conjunction with a significant financing. The side letter also provides that the company will set a record date for the distribution of the 35 million consideration shares (as converted to common shares of the resulting listed company) to its shareholders upon Verdera's request following a listing on a Canadian stock exchange.

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 only U.S. uranium company with multiple central processing plants in operation. The EnCore team is led by industry experts with extensive knowledge and experience in all aspects of in situ recovery 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.

Following upon EnCore's demonstrated success in southern Texas, future projects in EnCore's planned project pipeline include 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 impact from corporate developments.

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