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File: EU NR16-02 EU Announced Financing and Share Repurchase FINAL.docx

  

   NEWS RELEASE
TSX.V: EU
July 21, 2016
NR 16-02
www.encoreenergycorp.com 

Not for distribution into the United States or to U.S. newswire services

enCore Energy Announces Financing; Repurchase of Shares from Till Capital

Vancouver, BC, July 21, 2016 - enCore Energy Corp. (TSX-V: EU) ("enCore" or the "Company") is pleased to announce a no
--->n-brokered private placement (the "Private Placement") of up to 8,400,000 units at price of C$0.09 per unit, for proce
--->eds of up to C$756,000.  Each unit consists of one common share of enCore and one whole common share purchase warrant.
---> Each warrant will entitle the holder to purchase one additional common share of the Company at a price of C$0.15 for 
--->two years from the date of issue of the warrant and C$0.25 during the third year. 

Up to C$500,000 of the proceeds of the Private Placement will be used to repurchase from Till Capital Ltd. ("Till") up
---> to 10,000,000 common shares of enCore held by Till's subsidiary, Resource Re Ltd. ("Resource Re"), at a price of C$0.
--->05 per share (the "Repurchase"). The balance of the proceeds will be used for general corporate and administrative pur
--->poses.

Under the terms of an agreement between the Company and Till dated July 20, 2016, the parties have agreed to complete 
--->the Repurchase, subject to completion of the Private Placement and applicable regulatory approvals, by not later than 
--->August 10, 2016.  The Company intends to purchase 7,000,000 of the 10,000,000 shares and assign its right to purchase 
--->the remaining 3,000,000 shares to third parties, including some of the Company's officers and directors.  enCore has a
--->greed that any shares not ultimately acquired by third parties will be repurchased by the Company.  All shares repurch
--->ased by the Company will be cancelled and returned to the Company's treasury.  

"Through this creative financing and repurchase arrangement the Company will be able to add approximately $ 400,000.00
---> net to the treasury while only increasing the issued and outstanding shares by 1,400,000 shares." said William M. She
--->riff, Chairman.  "We intend to continue to position the company to participate in what we see as the bright long term 
--->future of the uranium industry."

Through Resource Re, Till currently owns an aggregate of 13,847,000 (or 19.37%) of the Company's outstanding common sh
--->ares.  The Repurchase is therefore a "related party transaction" within the meaning of Multilateral Instrument 61-101 
--->Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemption
---> from the formal valuation requirement in section 5.5(b) of MI 61-101 (as a result of its shares being listed on the T
--->SX Venture Exchange) and the exemption from the minority approval requirement in section in section 5.7(1)(f) of MI 61
--->-101 (as a result of the transaction having a fair market value of less than 25% of the Company's market capitalizatio
--->n).

On completion of the Repurchase and assuming the full amount of the Private Placement is raised, Till will control 3,8
--->47,000 (or 5.28%) of the Company's anticipated 72,892,750 outstanding common shares.  

Completion of the Private Placement and Repurchase transactions is subject to the approval of the TSX Venture Exchange
--->.  The Company may pay cash commission or finder's fees to eligible parties on all or a portion of the Private Placeme
--->nt, in accordance with the rules and policies of the TSX Venture Exchange.  

About enCore Energy Corp.
enCore Energy Corp. has a 100% interest, with no holding costs, on 115,000+ acres (46,400 ha) of private mineral right
--->s in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. These deposits contain an Indicated minera
--->l resource of 26.6 MM pounds of U3O8 at an average grade of 0.105% eU3O8 and an Inferred mineral resource of 6.1 MM po
--->unds of U3O8 at an average grade of 0.110% eU3O8(1).  A portion of these resources are under NRC license. The Company 
--->also holds certain processing rights at the White Mesa Uranium Mill of Energy Fuels in Blanding, Utah.

Dr. Douglas H. Underhill, CPG, a Qualified Person as defined by National Instrument 43-101 and Chief Geologist for the
---> Company, has reviewed, verified and approved disclosure of the technical information
contained in this news release.

For additional information:
enCore Energy Corp.

Dennis Stover, Chief Executive Officer
or
William M. Sheriff, Chairman
(972) 333-2214
info@encoreenergycorp.com 
www.encoreenergycorp.com 

Technical Report, titled, "Crownpoint and Hosta Butte Uranium Project Mineral Resource Technical Report, McKinley Coun
--->ty, New Mexico, USA, Mineral Resource Technical Report - National Instrument 43-101," dated May 14, 2012, and authored
---> by Douglas L. Beahm, PEng, PGeo.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Vent
--->ure Exchange) accepts responsibility for the adequacy or accuracy of this release. 

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information con
--->tained herein. This press release contains projections and forward-looking information that involve various risks and 
--->uncertainties regarding future events. Such forward-looking information includes, without limitation, the Company's in
--->tended financing and the amount planned to be raised thereby and the Company's proposed use of proceeds, including the
---> Company's intention to use a portion of the proceeds to repurchase and retire up to 10,000,000 common shares of the C
--->ompany from Till Capital Inc.  Often, but not always, forward-looking information statements can be identified by the 
--->use of words such as "proposes", "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "
--->intends", "anticipates", or "believes", or variations (including negative variations) of such words and phrases, or st
--->ate that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved
--->. The forward-looking statements made in this press release are based on current expectations involving a number of ri
--->sks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that co
--->uld cause actual results and the Company's plans and objectives to differ materially from those expressed in the forwa
--->rd-looking information, such as failure to satisfy the conditions to completion of the Repurchase, including a failure
---> to obtain TSX Venture Exchange approval for the Private Placement or Repurchase transactions, and other risks typical
---> of any junior mineral exploration company as set forth in the Company's Management Discussion & Analysis for the year
---> ended December 31, 2015 filed on SEDAR. Actual results and future events could differ materially from those anticipat
--->ed in such information. These statements are based on estimates and opinions of management on the dates they are made 
--->and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obliga
--->tion to update forward-looking information should circumstances or management's estimates or opinions change.