home Equities enCore Energy Announces Appointment of Paul Goranson as Chief Executive Officer

enCore Energy Announces Appointment of Paul Goranson as Chief Executive Officer

September 14th, 2020 – Vancouver, B.C. – enCore Energy Corp. (TSXV:EU; OTCQB:ENCUF) (the “Company”) is pleased to announce the appointment of Paul Goranson, P.E., as Chief Executive Officer effective October 1, 2020. Dennis Stover, currently serving as Chief Executive Officer will continue to serve the Company as the Chief Technical Officer and a Director.

William M. Sheriff, Executive Chairman of enCore Energy stated “On behalf of the encore Energy Board of Directors I am extremely pleased to welcome Paul Goranson as our new Chief Executive Officer. Mr. Goranson is an experienced executive with extensive expertise across the uranium sector. Under his leadership, and backed by one of the most experienced teams in the industry, enCore will be well-placed to work towards advancing our goal to become a uranium producer in the United States. I also want to thank Dr. Dennis Stover for his years at the helm, we are most fortunate that he will continue to provide enCore and Group 11 with his ISR and other technical expertise in his new position as our Chief Technical Officer.”

”I am truly excited with enCore’s strategy and vision to build towards becoming a uranium producer in America.” said Paul Goranson. “During my previous limited tenure on the Company’s Board, I developed a deep regard and respect for the experience and energy of enCore’s management team. I believe that with the changes in the supply-demand balance in the uranium markets, along with initiatives being carried forward by the U.S. Government, enCore Energy is well situated to successful implement its strategy and vison. I am excited to be able to lead that effort.”

”Paul and I worked side by side for many years at Rio Algom Mining Corp. I am extremely pleased that he is taking the reins at enCore,” added Dennis Stover. “I look forward to working with Paul as we accelerate our efforts to develop uranium production facilities and expand our resource base in the United States.”

The appointment of Mr. Goranson as Chief Executive Officer provides the Company with the leadership and technical skill set to advance enCore Energy Corp towards its goal of developing uranium production facilities in the United States. His vast experience includes building, renovating and operating a number of ISR facilities in the United States. With his experience in South Texas, he is particularly well suited to guide the Westwater transaction towards completion and advance the licensed Texas facilities back into production.

The Company recently announced a binding letter of intent with Westwater Resources to acquire their United States uranium assets. These assets include two licensed Texas-based uranium production facilities, mineral exploration leases in Texas, and more than 270 square miles (180,000 acres) of patented mineral rights in New Mexico. This acquisition will more than double the Company’s current mineral rights and holdings and add two already licensed uranium production facilities. The Westwater acquisition, combined with enCore’s already extensive New Mexico holdings, will on closing, make the company the dominant holder of high-quality uranium properties in New Mexico.

William Paul Goranson, P.E.

Paul Goranson has over thirty- years of mining, processing and regulatory experience in the uranium extraction industry that includes both conventional and in-situ recovery (ISR) mining. Most recently, Mr. Goranson was the Chief Operating Officer for Energy Fuels Resources (USA) Inc., where he was responsible for the operations of the White Mesa Uranium Mill located in Southeast Utah, the Nichols Ranch ISR uranium and Sheep Mountain projects located in Central Wyoming, and the Alta Mesa ISR uranium project located in South Texas. He was closely involved with the company’s efforts at the federal level on trade actions and the President’s Nuclear Fuel Working Group interagency process. Prior to the acquisition by Energy Fuels, Inc. of Uranerz Energy Corporation, Mr. Goranson served as President, Chief Operating Officer and Director for Uranerz, where he was responsible for commissioning, operating and expanding the Nichols Ranch ISR Uranium Project. In addition to those duties, he also managed uranium marketing, regulatory and government affairs, exploration, and land groups.

Prior to his time with Uranerz, Mr. Goranson was President of Cameco Resources, a wholly-owned U.S. subsidiary of Cameco Corporation. While President of Cameco Resources, Mr. Goranson’s responsibilities included executive leadership for the operations at the Smith Ranch-Highland (Wyoming), which produced over 5.5 million pounds of uranium, the Crow Butte (Nebraska) ISR operations, the construction and startup of the North Butte (Wyoming) ISR project, and licensing and permitting other projects in Wyoming and Nebraska for eventual expanded uranium production at new facilities.

Prior to Cameco Resources, Mr. Goranson was Vice President of Mesteña Uranium LLC where he led the construction, startup and operation of the Alta Mesa project, in Texas, that achieved over one million pounds of uranium production per year under his stewardship. At Mesteña ,his responsibilities included responsibility for marketing uranium where he negotiated long term uranium supply contracts with nuclear utilities as well as spot uranium sales. Prior to Mesteña, Mr. Goranson was the manager for radiation safety, regulatory compliance and licensing with Rio Algom Mining LLC, a division of BHP Billiton, in Utah, New Mexico, and Wyoming, and he served in various operational management positions for Uranium Resources, Inc. (now Westwater Resources) in South Texas.

Mr. Goranson most recently served as the President of the Uranium Producers of America, immediate past President of the Wyoming Mining Association, immediate Chairman of the Uranium Environmental Subcommittee for the National Mining Association, Board member of the National Mining Association, and is currently a Board member of the Brush Country Groundwater Conservation District. Mr. Goranson is a registered Professional Engineer in the State of Texas, and he holds a Master of Science in Environmental Engineering and a Bachelor of Science in Natural Gas Engineering from Texas A&M University-Kingsville and Texas A& I University, respectively. Dennis Stover will, effective October 1,

2020, be appointed as Chief Technical Officer, and will remain a Director of the Company. Mr Goranson will, effective immediately, join the Company’s Board of Directors.

Dennis Stover, Ph.D.

Dr. Dennis Stover, co-discoverer of the ISR process and patent holder on six ISR uranium applications is recognized as a leading expert in in-situ metal recovery with dozens of relevant technical publications. As Chief Engineer for Everest Minerals Corp, Dr. Stover was responsible for the design and construction of the Highland ISR Project, now owned by Cameco Resources, in Wyoming as well as Everest’s Hobson, Mt. Lucas and Las Palmas projects in south Texas. Subsequently, as Director of ISR Technology for Rio Algom Mining Corp, he was responsible for design, construction, and startup of the Smith Ranch Project, also now owned by Cameco Resources. As an independent consultant, he led the design team for Cameco’s commercial Inkai ISR Facilities in Kazakhstan prior to joining Energy Metals Corporation (EMC) where he oversaw EMC’s development of commercial production facilities in Texas and Wyoming. Dr. Stover holds BSC, MSC, and PhD degrees in Chemical Engineering from the University of Michigan as well as a BA in Chemistry from Kalamazoo College. His academic and applied interests have focused on electrochemical kinetics and surface chemistry, both key elements of the ISR process.

About enCore Energy Corp.

enCore Energy Corp. is focused on working towards becoming a domestic United States uranium producer. With significant existing resources in the SW United States and a binding letter of intent to acquire production facilities in Texas along with additional uranium resources in New Mexico, enCore will, upon completion of the Westwater transaction, will hold the largest uranium land position in the Grants Mineral Belt and licensed processing facilities in Texas.

Source: enCore Energy