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These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.Certain statements and information in this Annual Report may constitute “forward-looking statements.” The words “may,” “will,” estimate,” “predict,” “potential,” “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions adverse industry events future legislative and regulatory developments inability to access additional capital the ability of enCore to implement its business strategies and other risks. Forward-looking statements in this news release include, but are not limited to, statements relating to the intended use of the net proceeds of ‎the Offering and the completion of any capital project or property acquisitions. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. The Rosita Plant has operated for 1,290 days without a Lost Time Accident and the Kingsville Dome Plant has operated for 2,662 days without any Lost Time Accidents.ġ Mineral resource estimates are based on technical reports prepared in accordance with NI43-101 and available on SEDAR as well as company websites at NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.ĬAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. No additional permits are required to upsize capacity at the Rosita Plant.ĮnCore congratulates the team at the licensed Rosita Plant and Kingsville Dome Plant, both located in South Texas, for operating with phenomenal safety records. The capacity of the Rosita Plant has the potential to be increased to 2,000,000 pounds U 3O 8 with the primary expense being acquisition and installation of a larger second dryer that could range between $1.25 and $2.0 million. Simultaneously, enCore is commencing a cost benefit analysis to consider options for expansion of the current 800,000 pounds U 3O 8 production capacity at its Rosita Plant. All activities are on track and on budget for a projected 2023 production start. Wellfield installation will begin immediately following the submittal of the PAA data package to the TCEQ.

Concurrently, monitor well installation, baseline water quality analysis, and hydrological testing will be completed as part of the Production Area Authorization (PAA) process with the Texas Commission on Environmental Quality. Following commissioning work the Plant will be ready to start receiving loaded resin. Once the modernization and refurbishment project is complete, enCore will commence commissioning work, expected to take approximately 30 days.