enCore Energy Corp. announced 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. 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 second producing asset on-line achieving commitment to commence production in second quarter of 2024. The 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 the company 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.

Alta Mesa In-Situ Recovery ("ISR") Uranium Central Processing Plant (CPP") & Wellfield. The Alta Mesa Project utilizes well-known 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 or extraction wells plumbed directly into the primary pipelines feeding the CPP.

Expansion of the wellfield will continue with production to steadily increase from the wellfield as expansion continues through 2024 and beyond.