Eagle Nuclear Energy Provides First Quarter 2026 Corporate Update

RENO, Nev., April 15, 2026 (GLOBE NEWSWIRE) -- Eagle Nuclear Energy Corp. (“Eagle” or the “Company”) (NASDAQ: NUCL), a next-generation nuclear energy company which owns the largest conventional, measured and indicated uranium deposit in the United States, today announced a corporate update and financial results for the first quarter of 2026, ending February 28, 2026.

Management Commentary

“During the first quarter, Eagle made significant progress as we completed our business combination with Spring Valley Aqcuisition Corp. II, commenced trading on the Nasdaq, and simultaneously advanced our flagship Aurora Uranium Project (“Aurora”) site,” stated, Mark Mukhija, Eagle’s CEO. “In subsequent weeks, we have seen that momentum continue, led by the announcement of our drill program plan at Aurora which is scheduled to commence in July 2026. The 47 diamond drill hole program, collectively totaling 27,000 ft of drilling, advances one of the largest undeveloped uranium deposits in the U.S. toward a Pre-Feasibility Study (“PFS”), which is expected to be completed in the second half of 2027.”

“Alongside our drill program announcement, we have moved swiftly to secure drill rigs with a premier contactor in the mining industry and file permit applications that are essential to beginning the program,” said Mukhija. “Aurora anchors Eagle’s long-term strategy to develop an integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology, and these steps move us closer to this goal.”

“We are excited about the path forward for Eagle and our positioning to help restore a secure domestic nuclear supply chain that addresses the rapid growth of electricity demand. We look forward to providing further updates as our progress continues.”

Recent Operational Updates

• January 2026: Announced engagement with BBA USA Inc. (“BBA”) to develop a comprehensive “Gap Analysis” study designed to address data gaps at Aurora in order to advance the Project toward a PFS. BBA designed and optimized the number, location, and orientation of drill holes to achieve critical objectives in the completion of the PFS.
• February 2026: Completed business combination (the “Business Combination”) with Spring Valley Acquisition Corp. II (“SVII”). This resulted in the new combined company, Eagle Nuclear Energy Corp., commencing trading on the Nasdaq on February 25, 2026 under the ticker symbol “NUCL”.
• March 2026: Selected SLR International Corporation (“SLR”) to lead the permitting effort at Aurora. The engagement with SLR initially focused on filing permit applications with the federal Bureau of Land Management (“BLM”) and the Oregon Department of Geology and Mineral Industries (“DOGAMI”) for approval of the Aurora drill program. Additionally, we joined the Uranium Producers of America (“UPA”). Membership in UPA highlights Eagle’s commitment to strengthening America’s domestic uranium supply.
• April 2026: Announcement of drill program, engagement with Harris Exploration Drilling & Associates Inc. to provide the drill rigs that will be used to complete the drill program at Aurora. Formally filed our permit applications with BLM and DOGAMI. All of these actions have advanced Eagle towards a pre-feasibility study and development of our Aurora site.

Liquidity and Balance Sheet