enCore Energy Receives Fast-Track Federal Permitting for Dewey Burdock Uranium Project

• Dewey Burdock ISR Uranium Project approved for Fast-41 federal permitting, becoming South Dakota's first critical minerals project with this designation
• Project holds Nuclear Regulatory Commission licence (SUA-1600) covering 10,580 acres, currently under renewal
• Measured and indicated resources total 17.1 million pounds of uranium oxide (U3O8) with 0.12% average grade
• Uses in-situ recovery technology for uranium extraction with minimal surface disturbance
• Designation supports domestic uranium production objectives under federal energy policy

enCore Energy Corp. (NASDAQ: EU) is a uranium production company focused on nuclear fuel supply. The company currently runs multiple central processing plants and uses in-situ recovery (ISR) methods for uranium extraction. ISR technology dissolves uranium minerals underground using water-based solutions, avoiding conventional mining methods.

The company operates facilities in South Texas and maintains a project pipeline including Dewey Burdock in South Dakota and Gas Hills in Wyoming. The management team has experience in ISR uranium operations and nuclear fuel cycle processes.

Federal Fast-Track Permitting Approval

The Fast-41 programme, established under the 2015 Fixing America's Surface Transportation Act, provides streamlined federal permitting for critical infrastructure projects. The Federal Permitting Improvement Steering Council, comprising 13 federal agencies, coordinates environmental reviews and authorisations for qualifying projects.

Dewey Burdock's inclusion follows President Trump's Executive Order on Immediate Measures to Increase American Mineral Production, which prioritises domestic uranium production. The Nuclear Regulatory Commission will serve as the lead federal agency for permitting coordination.

The Fast-41 designation provides comprehensive permitting timetables and project management through the Federal Permitting Dashboard. Executive Chairman William Sheriff stated the company would work with the Permitting Council and NRC to advance the project through transparent processes, noting Dewey Burdock's role in supporting domestic nuclear fuel supply.

Project Development and Operational Status

The Dewey Burdock project, located in Custer and Fall River counties, South Dakota, received its Source and Byproduct Materials Licence (SUA-1600) from the NRC in April 2014. The licence covers 10,580 acres where enCore controls both mineral and surface rights. The licence is currently under timely renewal.

The project will use ISR technology to recover uranium from subsurface sandstone ore bodies. This method uses chemical-free water-based solutions in production wellfields to dissolve uranium minerals, then pumps the uranium-bearing solution to a central processing plant. The process requires minimal surface disturbance compared to open-pit or underground mining.

Project infrastructure includes wellfield areas, a central processing plant, supporting infrastructure, and environmental protection systems. The company's objective is to advance Dewey Burdock into development and operation as an ISR uranium extraction project following Fast-41 approval.

Resource Base and Technical Specifications

The project contains measured resources of 14.3 million pounds of U3O8 and indicated resources of 2.8 million pounds, totalling 17.1 million pounds across 7.4 million tons of material. Inferred resources add 712,624 pounds. The measured and indicated resources have an average grade of 0.12% U3O8 and average thickness of 5.65 feet.

Resource estimates use a minimum grade-thickness cut-off of 0.20 ft% U3O8 and are based on geological models derived from surface drillhole information. The estimates assume ISR extraction methods and carry an effective date of October 2024.

Dr John Seeley, the company's Chief Geologist and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, reviewed and approved the technical disclosure. The resource estimates follow standard industry protocols for uranium projects using ISR technology.

Next Steps

enCore will work with the Permitting Council and NRC to advance the project through federal permitting processes. The company aims to complete the NRC licence renewal and utilise Fast-41 procedures to move toward project development. The timeline for development activities will depend on regulatory approval processes and permit acquisitions.

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