enCore Energy Reports Strong Uranium Extraction Growth and Key Leadership Appointment

• Q2 2025 uranium extraction reached 203,797 pounds, up 79% from Q1's 113,816 pounds 
• Monthly production more than doubled since March, reaching 80,346 pounds in June 2025 
• Dain McCoig promoted to Chief Operating Officer following operational transformation success 
• 75 new wells installed in Wellfield 7 during Q2, with drilling operations expanding to 30 rigs by August 
• Alta Mesa facility operates at 1.5 million pounds annual capacity on 200,000+ acres in Texas

enCore Energy Corp. (NASDAQ:EU | TSXV:EU), America's Clean Energy Company ™ , is the only United States uranium company with multiple Central Processing Plants in operation. enCore's team has experience across ISR uranium operations and the nuclear fuel cycle.

The company utilises in-situ recovery (ISR) technology for uranium extraction. enCore maintains a project pipeline that includes the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming. The company also holds additional assets including non-core properties and proprietary databases.

Increased Uranium Extraction Performance

enCore's Alta Mesa facility has demonstrated production growth throughout 2025, with extraction rates showing month-over-month improvements. June 2025 production reached 80,346 pounds of uranium, compared to 15,647 pounds extracted in January. This reflects operational optimisation efforts and expanded drilling activities across South Texas operations.

Second quarter results show 203,797 pounds of uranium extracted compared to 113,816 pounds in the first quarter, a 79% quarterly improvement. The monthly increases throughout the reporting period indicate momentum in production capabilities.

Operational enhancements include expanding drilling activities to 25 active rigs in South Texas, with plans to increase to 30 rigs by August 2025. The company has implemented improvements to electrical systems controlling wellfield operations, reducing operational interruptions. These infrastructure investments support the company's ability to maintain and expand production levels.

The production increases reflect optimisation of existing assets. The Alta Mesa Central Processing Plant has a total operating capacity of 1.5 million pounds of uranium per year.

Leadership Appointment of Dain McCoig as COO

The promotion of Dain McCoig from Senior Vice President to Chief Operating Officer follows operational improvements that resulted in more than doubling uranium extraction rates since March 2025. McCoig led the operations team during this period of increased production.

McCoig brings over 18 years of experience in mining, mineral processing, and facility development. His background includes serving as Vice President of Operations at Alabama Graphite Products, where he managed engineering, construction, and team development for a $200 million battery-grade graphite facility.

McCoig is a licensed Professional Engineer in Texas and Alabama, with a Bachelor of Science in Engineering from the Colorado School of Mines and ongoing MBA studies at Auburn University. He is involved in industry organisations including SME and various mining associations.

William M. Sheriff stated that McCoig "has been instrumental in leading and transforming our operations and expanding our uranium extraction rates. His steady leadership, deep technical expertise, and relentless focus on safety, efficiency, and execution have been essential to enCore's success and growth."

Infrastructure Development and Expansion Progress

enCore's infrastructure development accelerated during the second quarter, with 75 new wells installed in Wellfield 7, comprising 35 extraction wells and 40 injection wells. This wellfield expansion supports increased production capacity. Installation efficiency improvements have shortened timeframes for new well deployment.

The Alta Mesa Uranium Project operates on over 200,000 acres of private land and mineral rights in Texas. The facility operates under a 70/30 joint venture with Boss Energy Limited (ASX: BOE; OTCQX: BQSSF), with enCore serving as the managing partner.

The Central Processing Plant produced nearly 5 million pounds of uranium between 2005 and 2013 before production was curtailed due to low uranium prices. Current operations utilise ISR technology that extracts uranium through a process using natural groundwater and oxygen.

Infrastructure improvements include upgrading electrical systems controlling wellfield operations, resulting in fewer operational interruptions. The company has advanced delineation and monitor well drilling for permit amendment applications for Wellfield 3 extension, indicating preparation for further expansion phases.

Summary and Forward Outlook

enCore Energy has demonstrated operational progress through doubled uranium extraction rates, leadership appointments, and infrastructure development. The company's second quarter production of 203,797 pounds represents a 79% increase over first quarter results, with monthly extraction rates showing growth throughout 2025. The promotion of Dain McCoig to Chief Operating Officer provides experienced leadership for continued operational expansion.

Operational milestones include expanding drilling operations to 25 active rigs with plans for 30 rigs by August, installing 75 new wells in Wellfield 7, and implementing electrical system improvements that reduce operational interruptions. Looking ahead, enCore plans continued wellfield expansion at Alta Mesa while advancing permit applications for Wellfield 3 extension. The company's project pipeline includes the Dewey-Burdock project in South Dakota and Gas Hills project in Wyoming.

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