enCore Energy Completes Construction of Largest Satellite Ion Exchange Plant at Upper Spring Creek ISR Uranium Project

• enCore has completed the first phase of construction on the Upper Spring Creek In-Situ Recovery (ISR) Uranium Project's Satellite Remote Ion Exchange (IX) Plant, the largest satellite facility the Company has ever built.
• The IX Plant is currently processing at 1,600 gallons per minute (gpm), 50% of its planned 3,200 gpm capacity, with 75% flow expected by the end of June 2026 and full capacity by the end of July 2026.
• Drilling for the first 800 gpm production module is complete, and wellfield infrastructure is nearly finished; Module 2 drilling is approximately 90% complete.
• Once connected to wellfields and final permits are received, the plant will supply uranium-loaded resin to enCore's fully licensed Rosita Central Processing Plant (CPP), with uranium extraction planned for late 2026.
• The Upper Spring Creek project is a 100% Company-owned asset and a key component of enCore's broader South Texas Uranium Project, located in the historic Clay West uranium district.

Company Overview

enCore Energy (NASDAQ: EU | TSXV: EU) is a US-focused uranium producer operating exclusively through In-Situ Recovery (ISR) methods, a minimally invasive, eco-friendly, and economically competitive approach to uranium extraction co-developed by enCore's leadership team. Positioning itself as America's Clean Energy Company, enCore is focused on supplying domestically produced uranium to meet rapidly expanding US nuclear energy needs. The Company's operational base is centred on its South Texas operations, which include the Rosita Central Processing Plant (CPP), multiple satellite IX Plants, and a growing portfolio of licensed wellfields. Future growth assets in enCore's pipeline include the Alta Mesa East expansion, the Dewey Burdock project in South Dakota, and the Gas Hills project in Wyoming.

First Phase Construction Complete at Largest Satellite Facility

The has announced the successful completion of the first phase of construction on the Satellite Remote Ion Exchange (IX) Plant at the Upper Spring Creek ISR Uranium Project in South Texas. The facility is the largest satellite IX Plant enCore has ever built, representing a meaningful expansion of the Company's operational infrastructure in the region.

The completed phase of the IX Plant is currently capable of processing 1,600 gallons per minute (gpm) through the facility, representing 50% of the planned total flow capacity. The expansion to full capacity of 3,200 gpm is progressing in stages, with 75% of flow capacity expected to be operational before the end of June 2026 and full 3,200 gpm capacity targeted by the end of July 2026.

Executive Chairman of enCore Energy, William M. Sheriff, commented on the significance of the milestone:

"This milestone reflects the dedication and teamwork of everyone involved. The Upper Spring Creek Project strengthens the Company's operational capabilities by providing uranium-loaded resin feed for our fully licensed Rosita Central Processing Plant ("CPP"). We look forward to continuing this momentum as we move into the operational phase, which is planned in late 2026 once final permits are received."

Construction of the first production wellfield, which will supply the IX Plant with uranium-bearing solutions, is also nearing completion. Uranium extraction from the first production area will commence once final permits are received.

Wellfield Construction Progress Across Four Modules

Wellfield development is advancing across multiple production modules. Drilling activities for the first 800 gpm module are complete, and wellfield infrastructure for the entire module is nearly finished. Drilling and infrastructure activities for three additional 800 gpm modules are well underway, with Module 2 drilling approximately 90% complete.

Project Background & the Clay West Uranium District

The Upper Spring Creek ISR Project is 100% owned by enCore and forms a key component of the Company's larger South Texas Uranium Project. The project was previously held by Signal Equities LLC, which originally licensed and permitted the property as an ISR uranium project, including securing an aquifer exemption. Work on the project ceased following a prolonged period of low uranium spot prices. enCore acquired the project in December 2020.

The uranium-mineralised sands at the project area lie within the Oakville Formation, a historically productive uranium-bearing horizon that stretches across an area of approximately 120 miles long by approximately 20 miles wide in South Texas. The saturated, uranium-mineralised ore body typically occurs at depths of between 300 and 450 feet below the surface, allowing for efficient and economical uranium recovery using ISR methods. The satellite facility is designed to operate in conjunction with multiple future potential production units within the historic Clay West uranium district.

How the Satellite Ion Exchange Process Works

The Satellite IX Plant uses ion-exchange technology that begins with the injection of a lixiviant, consisting of groundwater mixed with oxygen, into the wellfield. The lixiviant dissolves uranium from underground sandstone formations, and the resulting uranium-bearing water is pumped to the surface and cycled through the nearby Satellite IX Plant, where uranium is absorbed onto resin beads.

The uranium-loaded resin is then transported to enCore's Rosita CPP, where uranium is stripped from the resin and processed into yellowcake. The stripped resin is returned to the satellite plant for reuse, and the process water is refortified with oxygen and recycled back into the formation.

This ISR approach has been in commercial use for more than 50 years and is closely monitored by the Texas Commission on Environmental Quality. enCore's satellite IX Plants are modular and efficient, have a short installation time, and enable cost-effective operation across multiple sites without requiring a full central processing facility at each location. They can also be relocated to support additional uranium recovery, as wellfields are developed and depleted.

Next Steps

With the first phase of construction complete, enCore's near-term focus is on advancing the IX Plant to full operational capacity and finalising wellfield readiness ahead of the planned production start. The plant's flow capacity is scheduled to reach 75% by the end of June 2026, with full 3,200 gpm capacity targeted by the end of July 2026. Wellfield infrastructure for Module 1 is nearing completion, while drilling and infrastructure activities for Modules 2, 3, and 4 are progressing in parallel. The commencement of uranium extraction from the first Upper Spring Creek production area remains contingent on receipt of final permits, with operations planned for late 2026. Once operational, the facility will supply uranium-loaded resin to the Rosita CPP, expanding the volume of uranium feed available for processing into yellowcake and strengthening enCore's overall South Texas production base. 

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