Startup Of Production At Alta Mesa Uranium Central Processing Plant

DALLAS, TX - enCore Energy Corp. reported the successful startup of production at the Alta Mesa Uranium Central Processing Plant (CPP) and Wellfield (Alta Mesa Project). With the restart of the previously producing Alta Mesa Project, enCore Energy is now the only uranium producer in the United States with multiple production facilities in operation. The initial ramp up will be a progressive process to advance and continually increase uranium production via direct feed to the CPP.  enCore is anticipating its first shipment of yellowcake (uranium) from the Alta Mesa Project to occur in approximately 60 to 90 days.

Paul Goranson, Chief Executive Officer, said, "The enCore team has advanced the Alta Mesa Project from acquisition in February 2023, to completion of upgrades, wellfield installation and production in fifteen months' time. This effort has brought our second producing asset on-line achieving our commitment to commence production in Q2 of 2024. Our strategy at Alta Mesa is to initiate phased ramp-up from the wellfield located in Production Authorization Area 7 ("PAA-7"), increasing production progressively and consistently as additional injection and recovery wells are systematically tied into the production lines. As we continue to increase production from PAA-7, work has commenced on the second new wellfield at Production Authorization Area 8 ("PAA-8") with a goal of achieving full operational capacity by 2026. We are very pleased with our initial early production providing enCore with a second revenue source as we continue to build out the Alta Mesa Project."