enCore Energy Corp. (NYSE American: EU) (TSX-V: EU) announced that the Company has secured its fourth uranium sales agreement with the addition of a purchase sales agreement with a Fortune 500-listed United States utility. This agreement supports enCore’s business strategy to provide a domestic uranium supply commencing at its 100%-owned South Texas In-Situ Recovery uranium processing plants.

The uranium sales agreement, the fourth such agreement executed by enCore, is a multi-year agreement commencing in 2027. It covers firm deliveries of 650,000 pounds of U₃0₈, with an option to acquire up to 400,000 pounds U₃0₈ under a two year extended term, if exercised. The sales agreement is based on market pricing with a floor price well above our current projected costs of production and an inflation adjusted ceiling price significantly higher than the current uranium spot market pricing providing the U.S. with assurance of domestic supply along with cost certainty.

Paul Goranson, Chief Executive Officer of enCore Energy said, “We continue to see utilities in the United States looking to domestic uranium producers as a means to mitigate the supply chain risks resulting from continuing geopolitical uncertainty.  As enCore executes its strategy to be a uranium producer in the U.S. in 2023, we provide a necessary and reliable domestic uranium supply. enCore is committed to building a balanced portfolio of sales contracts with a portion of its production in defined agreements to ensure stability of operations while retaining a significant portion of production set aside to ensure participation in the upside of a rising spot market.”

About enCore Energy Corp.

enCore Energy is the most diversified In-Situ Recovery uranium development company in the United States and is focused on becoming the next uranium producer in 2023 from its licensed and past-producing South Texas Rosita Processing Plant. The Alta Mesa Project is scheduled to come online in 2024 and position enCore as a leading US-focused ISR uranium company with the proven management expertise required to advance multiple production opportunities within its portfolio. The South Dakota-based Dewey-Burdock project and the Wyoming Gas Hills project offer mid-term production opportunities, with significant New Mexico uranium resource endowments providing long-term opportunities. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore is committed to engaging and working with local communities and indigenous governments to create positive impact from corporate developments.