enCore Energy Corp. (“enCore” or the “Company”) (TSXV: EU) (OTCQB: ENCUF) is pleased to announce the U.S. Nuclear Regulatory Commission (“NRC”)  has accepted the change of control, to enCore, of the Dewey Burdock Source and By-Product Materials License.

Chief Executive Officer Paul Goranson stated “enCore appreciates the speed of the NRC in handling our license transfer from the Azarga acquisition. This license, issued in 2014 by the NRC, authorizes the production of uranium using in-situ recovery technologies at the Company’s Dewey-Burdock Project located in South Dakota, a key component in enCore Energy’s mid and long term production objective.  Our immediate production focus remains our South Texas Rosita ISR uranium project, now under development, with a planned production date of 2023.

The Company also announces that it has granted incentive stock options (the “Options”) to certain of its directors, officers, employees and consultants to purchase an aggregate of up to 7,090,000 common shares in the capital of the Company at a price of $1.40 per share for a five year period, in accordance with its Stock Option Plan.  Vesting will occur over a period of twenty-four months, with an initial 25% of the Options vesting six months following the date of grant, followed by an additional 25% of the Options every six months thereafter until fully vested.

The Company also announces it has terminated the previously announced capital market advisory contract with Red Cloud Securities Inc. and Red Cloud Financial Services Inc. The Company also thanks Red Cloud for their support and contributions.