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Encore Energy Announces Completion of Azarga Uranium Acquisition: Creation of Top Tier United States ISR Uranium Company

CORPUS CHRISTI, TX / ACCESSWIRE / January 4, 2022 / enCore Energy Corp. ("enCore") (TSXV:EU)(OTCQB:ENCUF) and Azarga Uranium Corp. ("Azarga Uranium") (TSX:AZZ), (OTCQB:AZZUF), (FRA:P8AA) are pleased to announce the closing of the previously …

CORPUS CHRISTI, TX / ACCESSWIRE / January 4, 2022 / enCore Energy Corp. ("enCore") (TSXV:EU)(OTCQB:ENCUF) and Azarga Uranium Corp. ("Azarga Uranium") (TSX:AZZ), (OTCQB:AZZUF), (FRA:P8AA) are pleased to announce the closing of the previously announced plan of arrangement (the "Arrangement") whereby enCore has acquired all of the outstanding shares of Azarga Uranium. The Arrangement consolidates an industry leading pipeline of exploration and development stage in-situ recovery ("ISR") projects, including two production licenses and focused uranium projects in preferred, permittable United States jurisdictions and resources of approximately 90 million pounds of U3O8 estimated in the measured and indicated categories and 9 million pounds of U3O8 estimated in the inferred category1.

enCore's assets include the licensed Rosita & Kingsville production facilities in South Texas, the advanced-stage Dewey Burdock development project in South Dakota, which has been issued its key federal permits, the PEA-stage Gas Hills Project, located in Wyoming, and a dominant portfolio of large high quality ISR projects throughout Wyoming and New Mexico. The completion of the Arrangement is the second major acquisition by enCore within the past twelve months and represents a continuation of enCore's strategy to create the leading United States ISR uranium producer.

William Sheriff, Executive Chairman of enCore, stated: "ISR production has major operating and capital cost advantages as well as significantly less environmental impact compared to conventional mining. This strategic acquisition adds strong mid-term ISR opportunities in Wyoming and South Dakota to enCore's pipeline of near term production in Texas and longer-term opportunities in New Mexico. This second major acquisition for enCore within the last 12 months is in keeping with our announced decision to implement the aggressive M&A strategy our team successfully used to quickly build Energy Metals Corp, which was sold for $1.6 billion during the last uranium cycle. We believe industry consolidation in conjunction with an elite operational team are the keys to success in building a leading US ISR company."

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Encore Energy Announces Completion of Azarga Uranium Acquisition: Creation of Top Tier United States ISR Uranium Company CORPUS CHRISTI, TX / ACCESSWIRE / January 4, 2022 / enCore Energy Corp. ("enCore") (TSXV:EU)(OTCQB:ENCUF) and Azarga Uranium Corp. ("Azarga Uranium") (TSX:AZZ), (OTCQB:AZZUF), (FRA:P8AA) are pleased to announce the closing of the previously …

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