enCore Energy Completes First Phase of Construction at Upper Spring Creek ISR Uranium Project

• enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) has completed the first construction phase of the Satellite Ion Exchange Plant at its Upper Spring Creek In-Situ Recovery Uranium Project in South Texas.
• The plant currently processes 1,600 gallons per minute, with capacity expected to reach 75 percent by the end of June 2026 and full capacity of 3,200 gallons per minute by the end of July 2026.
• Drilling for the first 800 gallon per minute wellfield module is complete, and three additional modules are in progress, with the second approximately 90 percent drilled.
• The plant will supply uranium-loaded resin to enCore's Rosita Central Processing Plant for further processing.
• Operations at Upper Spring Creek are planned to begin in late 2026, pending receipt of final permits.

enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) is a uranium producer focused on supplying the United States nuclear power sector. The company extracts uranium through in-situ recovery methods across its South Texas operations. Its broader project pipeline includes the Alta Mesa East expansion, the Dewey Burdock project in South Dakota, and the Gas Hills project in Wyoming, along with additional assets in its portfolio.

Completion of First Phase Construction at Upper Spring Creek ISR Satellite IX Plant

enCore has completed the first construction phase of the Satellite Ion Exchange Plant at Upper Spring Creek. The plant processes uranium-bearing water drawn from underground wellfields, capturing uranium onto resin beads before the resin is sent to a central processing facility. This modular design allows enCore to add production capacity in a given area without building a full processing plant at each site.

The plant currently processes 1,600 gallons of fluid per minute, half of its designed capacity. The company expects to reach 75 percent of total capacity by the end of June 2026, with full capacity of 3,200 gallons per minute targeted by the end of July 2026.

Upper Spring Creek is enCore's largest satellite plant to date within its South Texas operations. Once fully built, it will add processing capacity to the company's existing wellfield network in the Clay West uranium district.

Wellfield Drilling Progress Across Multiple Production Modules

enCore is advancing the wellfields that will supply water to the new plant. Drilling for the first 800 gallon per minute production module is complete, with supporting infrastructure for this module nearly finished.

Three additional 800 gallon per minute modules are in progress. The second module has reached approximately 90 percent completion on its drilling activities. Combined, these four modules are designed to support the full flow capacity of the Satellite IX Plant.

Construction of the plant and drilling of the wellfields are proceeding on parallel timelines through mid-2026, with each module expected to connect to the plant as it is completed.

Integration with Rosita Central Processing Plant Ahead of Late 2026 Operations

Once operational, the Upper Spring Creek Satellite IX Plant will send uranium-loaded resin to enCore's Rosita Central Processing Plant, where the uranium is separated from the resin and processed into yellowcake. The resin is then returned to the satellite plant for reuse.

Executive Chairman and Chief Investment Officer, William M. Sheriff said:

"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. 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."

Operations at Upper Spring Creek are planned to begin in late 2026, contingent on receiving final permits.

Milestones and Next Steps

Construction and drilling at Upper Spring Creek are progressing toward the plant's planned integration with the Rosita Central Processing Plant. Remaining milestones include reaching full flow capacity at the Satellite IX Plant by the end of July 2026, completing wellfield infrastructure across the remaining production modules, and securing final permits ahead of planned operations in late 2026.

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