enCore Energy Reports High-Grade Uranium Mineralization at Alta Mesa East Project

NASDAQ: EU
TSXV: EU
www.encoreuranium.com

DALLAS, June 16, 2026 /PRNewswire/ - enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company^TM, reports positive results from the ongoing drilling program at the Alta Mesa East Project, located immediately adjacent to the established Alta Mesa Wellfields and Central Processing Plant in South Texas. The Alta Mesa East Project drilling program targets the continuation of productive roll fronts from several Alta Mesa Wellfields.

Alta Mesa East Project Drilling Highlights

• Drill hole number 12-20 intersected 8.5 feet of mineralization grading 0.199% U₃O₈, for a Grade Thickness ("GT") of 1.69, from a depth of 487 feet.   The Company considers a GT value of 0.3 as being suitable for inclusion in a wellfield;
• The latest results include 20 drill holes, of which 12 were found to be mineralized (see June 1, 2026, news release for initial results);
• Six of the ten drill holes have returned GT values ranging from 0.43 to 1.76;
• The ongoing drill program has discovered uranium mineralization within sands at an average depth between 400 and 460 feet, and within sands between 480 and 520 feet;
• The drill program continues to make excellent progress with six rigs typically drilling on 400 to 500 foot spacing with an average depth of 600 feet;
• Seven widely spaced east-west fences of drilling are underway to generally characterize the mineralization across the entire property.

To view the Alta Mesa East Project maps, please visit: Alta Mesa Maps

"enCore made the strategic acquisition of the Alta Mesa East project based on analysis that suggested the previously and currently productive formations in the Alta Mesa wellfields extend eastward onto the Alta Mesa East property. Our aggressive exploratory drilling program continues to provide results that support our thesis," William M. Sheriff, Executive Chairman of enCore, stated. "Ultimately, our goal is to confirm mineralization at levels that will enable Alta Mesa East to directly feed the fully operational Alta Mesa Central Processing Plant."

Significant Alta Mesa East Results

• All reported intercepted mineralization lies within the Pliocene Goliad Formation. Holes with less than 2 ft of 0.02% U₃O₈ are not reported in the table.
• The Company has identified four saturated (required for ISR) mineralized sandstone horizons within the Pliocene Goliad Formation lying approximately 400 to 520 feet below the surface. The water level is located approximately 180 feet below the surface.
• ISR recoverable uranium with a Grade Thickness of >0.3 is considered suitable for inclusion in a wellfield.
• All drill holes are vertical and represent approximate true thicknesses as the sedimentary strata are generally flat dipping.

About the Alta Mesa East Project

The Alta Mesa East Project, located immediately adjacent to enCore's Alta Mesa Uranium Project, hosts uranium mineralization in multiple stacked sands within the Goliad Formation similar to the Alta Mesa Uranium Project. Historical drilling completed by Chevron Minerals during the late 1970s discovered multiple uranium roll fronts located at various depths within multiple sand units, all of which have been or are currently productive at the Alta Mesa Uranium Project.  

About the Alta Mesa Uranium Project

The Alta Mesa Uranium Project hosts a fully licensed and operational Central Processing Plant (CPP) and operational wellfield located on 200,000+ acres of private land and mineral rights in, and regulated by, the state of Texas. Total operating capacity at the Alta Mesa CPP is 1.5 million pounds of uranium per year, with additional drying capacity of 0.5 million pounds. The Alta Mesa Uranium Project operates under a 70/30 joint venture with Boss Energy Limited, which is managed by the Company.

The Alta Mesa Uranium Project utilizes well-known in-situ recovery (ISR) technology to extract uranium in a non-invasive process using natural groundwater and oxygen. Currently, oxygenated water is being circulated in the wellfield through injection and extraction wells plumbed directly into the primary pipelines feeding the Alta Mesa CPP.   

Quality Assurance (QA) and Quality Control (QC)

enCore's uranium exploration programs in South Texas utilize mud rotary drilling. For this project, each 6 5/8-inch-diameter exploration hole was drilled to approximately 600 ft below the ground surface with drill cuttings collected every five feet. Lithologic sediment composition and sediment geochemistry were logged by enCore geologists. Sediment coring and subsequent analytical laboratory analyses were not conducted as part of this exploration project. Upon completion of drilling, each hole was electronically logged for spontaneous potential (SP), resistivity, and gamma response. Drillholes indicating radiometric gamma intervals greater than 1,000 counts per second (CPS) were subsequently re-logged using the Company's proprietary Prompt Fission Neutron (PFN) tool, which directly measures the presence of uranium through neutron activation, yielding a direct, in-place uranium assay.

PFN technology is well-established and superior to core drilling and laboratory assays. It includes a much larger sample, is less expensive, and provides instantaneous and accurate results. enCore's PFN tools are properly maintained and calibrated on a quarterly basis. In addition, all of enCore's logging tools undergo rigorous inspections and testing before use.

John M. Seeley, Ph.D., P.G., C.P.G., enCore's Vice President of Exploration and Production, and a Qualified Person under Canadian National Instrument 43-101 and U.S. Securities and Exchange Commission S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company.

About enCore Energy Corp.

enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable uranium to fuel the U.S. nuclear energy future. enCore's team is led by industry experts with extensive knowledge and experience in all aspects of uranium ISR operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a minimally intrusive, eco-friendly, and economically competitive approach to mineral extraction technology co-developed by enCore's leadership.

Building on enCore's demonstrated success in South Texas, future projects in enCore's planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, the Dewey Burdock project in South Dakota, and the Gas Hills project in Wyoming. The Company holds other assets, including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impacts from corporate projects.

Cautionary Note Regarding Forward-Looking Statement

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 press release.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that are based on management's current expectations, assumptions, and beliefs. Forward-looking statements can often be identified by such words as "becomes," "expects," "plans," "believes," "intends," "continue," "potential," "remains," and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events, or results "may," "could," or "will" be taken.

Forward-looking statements and information that are not statements of historical fact include, but are not limited to, any information relating to statements regarding future or potential extraction, the Company's prospects, the Company's decisive action plan, and any other statements regarding future expectations, beliefs, goals or prospects, statements regarding the success of current and future ISR operations, including projects in our pipeline, and our commitment to working with local communities and indigenous governments to create a positive impact from corporate projects should be considered forward-looking statements. All such forward-looking statements are not guarantees of future results and forward-looking statements are subject to important risks and uncertainties, many of which are beyond the Company's ability to control or predict, that could cause actual results to differ materially from those expressed in any forward-looking statement, including those described in greater detail in our filings with the SEC and on SEDAR+, particularly those described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, management's discussion and analysis, and annual information form. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with assumptions regarding project economics; discount rates; expenditures and the current cost environment; timing and schedule of the projects; general economic conditions; adverse industry events; future legislative and regulatory developments; the ability of enCore to implement its business strategies; and other risks. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including, without limitation, exploration and development risks; changes in commodity prices; access to skilled personnel; the results of exploration and development activities; extraction risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment; timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property; the failure to adequately manage future growth; adverse market conditions; the failure to satisfy ongoing regulatory requirements; and factors relating to forward-looking statements listed above. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The Company assumes no obligation to update the information in this press release, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company which are available online at www.sec.gov and www.sedarplus.ca. Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. 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. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE enCore Energy Corp.