Mr. William Sheriff reports

ENCORE ENERGY CORP. APPOINTS MR. ROBERT WILLETTE AS CHIEF EXECUTIVE OFFICER

Robert Willette, who has been serving as acting chief executive officer, has now been formally appointed as CEO of EnCore Energy Corp.

William M. Sheriff, executive chairman, stated: "On behalf of the board of directors, I am extremely pleased to announce the promotion of Robert Willette to the permanent position of chief executive officer of EnCore Energy. After an extensive search process led by the search committee and a prominent U.S. executive search firm, we conducted multiple interviews with a large number of candidates. The committee and the board of directors unanimously selected Robert as the top candidate. Although a select few highly qualified candidates made it to the final round, it became clear that Robert's performance as the acting chief executive officer (A/CEO) over the past six months is without a doubt his best qualification. In addition to Robert's previous role as chief legal officer at EnCore, and extensive background in the oil and gas industry, his 'in the trenches' performance as A/CEO highlighted his exceptional leadership skills and ability to successfully manage challenges to the benefit of our shareholders. I personally cannot think of anyone I would rather work closely with as we continue to move forward. Finding a leader that performs well under ideal circumstances is one thing but finding a battle tested and proven leader is a true rarity, and we are pleased to have such an individual leading us through the coming years of aggressive growth."

Mr. Willette is an accomplished general counsel and business executive with 20-plus years of experience managing corporate legal functions for public and privately held entities across a multitude of sectors, including industrial, manufacturing, transportation, oil and gas, and renewables.

He brings with him broad experience in corporate law and sophisticated commercial transactions, including securities, capital market transactions, mergers and acquisitions (M&As), divestitures, as well as significant experience in manufacturing, real estate, governance, compliance, intellectual property, and international operations and transactions. Most recently, Mr. Willette served as ProFrac Holding Company's chief legal officer, chief compliance officer and corporate secretary, a multibillion-dollar publicly traded oil and gas services and technology company. Mr. Willette holds a BS, an MBA and a JD from the University of Kansas.

Mr. Willette was awarded one-time inducement equity-based grants under the 2023 long-term incentive plan. These grants consist of 125,000 RSUs under the plan to vest ratably over a period of four years, 125,000 stock options under the plan, to vest ratably over a period of four years with an exercise price of $3.10 (U.S.) expiring five years from the date of the grant, and 500,000 RSUs under the plan to vest in full on the fifth anniversary of the grant date, all of which are subject to the terms and conditions of the plan, Mr. Willette's continued employment, and applicable award agreements approved by the compensation committee and the full board of directors.

Other officers were awarded 125,000 RSUs under the plan, to vest ratably over a period of four years, 100,000 stock options under the plan, to vest ratably over a period of four years, with an exercise price of $3.10 (U.S.), expiring five years from the date of the grant, 320,000 stock options under the plan, to vest ratably over a period of two years, with an exercise price of $3.10 (U.S.), expiring three years from the date of the grant, and 500,000 RSUs under the plan, to vest in full on the fifth anniversary of the grant date, all of which are subject to the terms and conditions of the plan, continued employment of the officers, and applicable award agreements approved by the compensation committee and the full board of directors.

About EnCore Energy Corp.

EnCore Energy, America's Clean Energy Company, is committed to providing clean, reliable and affordable fuel for nuclear energy as the only United States uranium company with multiple central processing plants in operation. The EnCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR (in situ recovery) uranium operations and the nuclear fuel cycle. EnCore solely utilizes ISR for uranium extraction, a proven technology co-developed by the leaders at EnCore Energy.

Following upon EnCore's demonstrated success in south Texas, future projects in EnCore's planned project pipeline include the Dewey Burdock project in South Dakota and the Gas Hills project in Wyoming. The company holds other assets, including non-core assets and proprietary databases. EnCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments.

We seek Safe Harbor.