Mr. William Sheriff reports

ENCORE ENERGY CONTINUES WELLFIELD EXPANSION AT THE ALTA MESA URANIUM PROJECT; ANNOUNCES SENIOR VICE PRESIDENT OF OPERATIONS

EnCore Energy Corp. has provided continued positive results from continuing improvements to well field operations at the Alta Mesa uranium central processing plant and Wellfield (see EnCore news release dated April 7, 2025). The company has also promoted Dain McCoig to the position of senior vice-president of operations.

The Alta Mesa CPP and Wellfield expansion highlights include:

• Well field development continues to show positive results with a total of 32 wells, 15 extractors and 17 injectors installed and operational with uranium-bearing solution scheduled to be piped to the Alta Mesa CPP by April 23, 2025; this current rate of under two days per installed well is the best in the company's history at the Alta Mesa project;
• Installation of PathCAD well field simulation and design software providing EnCore the ability to model well field flow for current and future well fields; PathCAD software is proved to provide for improved well field management, efficient well field planning, operations and optimization of uranium extraction;
• Wellfield 8 (PAA-8), planned for uranium extraction following the currently operational Wellfield 7, is renamed Wellfield 3-Ext (PAA-3 extension); the original plan to develop Wellfield 8 is altered due to new delineation drilling, which indicates the uranium mineralization occurs within the same ore horizon and partially within the boundary of the existing monitor well ring of the past-producing Wellfield 3 (PAA-3). Modelling Wellfield 3-Ext as an extension of Wellfield 3 is expected to reduce permitting timelines and well field installation costs while extending the existing monitor well ring; this approach also provides the ability to capture uranium stranded within the previously operated Wellfield 3;
• Alta Mesa well field optimization training and updated procedures are in progress; the enhanced procedures are positively impacting the productive life of existing well fields, and are expected to enhance future well field operations and total uranium capture.

William M. Sheriff, executive chairman, stated: "Since joining EnCore in June, 2023, as the director of technical services, Dain has played a critical role in the successful restart of both the Rosita and Alta Mesa central processing plants. On behalf of the board of directors, I want to congratulate him on a promotion that truly reflects his leadership, technical expertise and industry knowledge. In conjunction with directors Dr. Dennis Stover and Mark Pelizza, Mr. McCoig and the site management have accelerated well field installation and made alterations to well field design to maximize uranium extraction while reducing expected well field development costs."

About the Alta Mesa uranium CPP and Wellfield

The Alta Mesa uranium project hosts a fully licensed and constructed ISR central processing plant and operational well field located on 200,000-plus acres of private land and mineral rights in and regulated by the state of Texas. Total operating capacity at the Alta Mesa CPP is 1.5 million pounds uranium per year with additional drying capacity of 500,000 lb. The Alta Mesa project operates under a 70/30 joint venture with Boss Energy Ltd. that is managed by the company.

The Alta Mesa CPP historically produced nearly five million lb of uranium between 2005 and 2013, when production was curtailed as a result of low prices. The Alta Mesa project utilizes in situ recovery technology to extract uranium in a non-invasive process using natural groundwater and oxygen. Currently, oxygenated water is being circulated in the well field through injection or extraction wells plumbed directly into the primary pipelines feeding the Alta Mesa CPP. Expansion of the well field will continue with production to steadily increase from the well field as expansion continues through 2025 and beyond.

Dain McCoig, senior vice-president, operations

Mr. McCoig is a seasoned engineering and operations leader with 20 years of experience in mineral extraction, mineral processing and facility development. As director of operations at EnCore, he supported uranium recovery operations across engineering, geology and regulatory functions driving performance, cost-efficiency and technical excellence.

Previously, Mr. McCoig served as vice-president of operations at Alabama Graphite Products, where he led the engineering, construction and team development for a $200-million battery-grade graphite facility. Prior to this, he held several leadership roles at Uranium Resources Inc., where he oversaw operations at URI's Rosita, Kingsville Dome and Vasquez projects. Mr. McCoig managed early-stage planning, uranium production and site restoration, while co-ordinating and working with regulators, landowners and stakeholders.

A licensed professional engineer in Texas and Alabama, he holds a BS in engineering from the Colorado School of Mines and is pursuing his MBA at Auburn University. He is actively involved in industry groups, including SME and various mining associations.

John M. Seeley, PhD, PG, CPG, EnCore's manager of geology and exploration, and a qualified person under National Instrument 43-101 and Regulation S-K Subpart 1300 of the Exchange Act of 1933, as amended, has reviewed and approved the technical disclosure in this news release on behalf of the company.

With this transition, Peter Luthiger is no longer with the company. The company thanks him for his contributions to EnCore and wishes him success in his future endeavours.

About EnCore Energy Corp.

EnCore, 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 proven technology co-developed by the leaders at EnCore Energy.

Following upon EnCore's demonstrated success in south 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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