Encore Energy Corp. · TSXV:EU
Encore Energy — Investor Presentation (May 2022)
26 slides from Encore Energy's investor presentation, May 11, 2022
Slide 1: Advancing the Next Uranium Producer in the United States
Kingsville Plant, South Texas Advancing the Next Uranium Producer in the United States Corporate Presentation May 2022
Slide 2: Disclaimer
Disclaimer The technical contents of this presentation were reviewed and approved on behalf of enCore Energy Corp. by Douglas H. Underhill, PhD, CPG, enCore’s Chief Geologist, is the Qualified Person as defined under National Instrument 43-101 and has reviewed and verified the information presented
Slide 3: enCore Energy: A Path to Success
enCore Energy: A Path to Success Uranium Spot Price enCore Advancement of production facilities Continue consolidation through M&A Energy Metals enCore enCore enCore Announces acquisition of Energy Metals Corp. formed to pursue ISR enCore Energy Corp. Established Acquires Westwater Resources Azarga
Slide 4: Investment Overview
Most diversified US ISR uranium development company • Texas - two licensed processing plants in Texas (of 11 in the US) with offtake agreements in place • Turnkey production capability (Texas) and growing portfolio • Advanced-stage Dewey Burdock project (South Dakota) • Pipeline project at Gas Hil
Slide 5: In-Situ Recovery (ISR): Environmentally Superior & Economically Competitive
In-Situ Recovery (ISR): Environmentally Superior & Economically Competitive 57% of global uranium is produced through ISR ISR uses injection wells which add oxygen and carbon dioxide creating a lixiviant solution; uranium dissolves into the solution Recovery wells pump the solution back to the
Slide 6: Corporate Summary
Corporate Summary Market Capitalization (@$1.18 CDN) $ 387,830,435 CDN Shares Issued & Outstanding 321,042,742 Warrants 25,610,457 Options 22,946,881 Fully Diluted 369,600,080 Cash* $26.7 mm USD As at May 10 2022 Investor Tour at Kingsville Lab * Does not include an option to buy 200,000 lb U3O8 in
Slide 7: Strong Board & Management
Strong Board & Management William M. Sheriff, MSc Richard M. Cherry, MSc, P.E. Executive Chairman Independent Director Mr. Sheriff was a pioneer in the uranium renaissance as co-founder and Mr. Cherry is a veteran executive with over 40-years of experience in the Chairman of Energy Metals Corp., whi
Slide 8: American Uranium
American Uranium An industry leading pipeline of exploration and development staged ISR focused uranium projects throughout the Western US Combined estimated resource base of 90.0 Mlbs in the M&I category, 9.0 Mlbs in the Inferred category, and 68.4 Mlbs in the historic category (see Appendix)
Slide 9: US Uranium Sector Renaissance
US Uranium Sector Renaissance Bi-Partisan Support for Nuclear Energy in US – first time in 48 years Democrat platform supports nuclear “We are not going to be able to achieve our climate goals if nuclear plants shut down. We have to find ways to keep them operating” Energy Secretary Granholm1 US
Slide 10: Global Uranium Environment
Global Uranium Environment ~200 nuclear reactors under construction or planned – over 40% of current operating nuclear fleet1 “Global realignment away from Russia in the nuclear fuel supply chain…new emphasis on western and in particular US produced uranium.”1 Japan – 10 reactors restarted and
Slide 11: enCore Energy: Current Work Underway
enCore Energy: Current Work Underway 43-101 resource estimates and Rosita Plant modernization underway, on reclassification of historic resources schedule (Q2/22) and on budget underway Expansion of Texas ISR assets through On-going non-core asset divestment aggressive acquisition program Wellfield
Slide 12: enCore Energy: A Pipeline of US Projects
enCore Energy: A Pipeline of US Projects Texas South Dakota Wyoming New Mexico 2022 2023 2025 2027 Permitting & Development Production TSX.V: EU | OTCQB: ENCUF | 12 Note: Timelines are estimates and subject to change
Slide 13: Texas Uranium Near-Term Production
Texas Uranium Near –Term Production Texas Four project areas • Rosita Central Processing Plant: Modernization Completion Q2/22; • Kingsville Dome Processing Facility; • Rosita wellfield expansion within existing permit area; • Upper Spring Creek - previously licensed project, without production, t
Slide 14: Near Term Growth Production: Texas Production Strategy
Near Term Growth Production Texas Production Strategy Kingsville Dome and Rosita Central Processing Plants (“CPP”) have combined nameplate estimated uranium production capacity of 1.6 Mlbs U3O8 per year Capacity is modularly scalable to over double at reasonable capital costs Rosita CPP underg
Slide 15: Executing the Strategy
Executing the Strategy Rosita Modernization: On Time and On Budget Investor Tour at Rosita Relocating the filter press to Rosita . William M.Sheriff, Executive Chairman Opening an elution column at Rosita . TSX.V: EU | OTCQB: ENCUF | 15
Slide 16: Dewey Burdock ISR Project
Dewey Burdock ISR Project South Dakota The deposits within the Dewey Burdock project area contain Measured ISR resources of14.29 Mlbs at an average grade of 0.132% U3O8 and Indicated ISR resources of 2.84 Mlbs at a grade of 0.072% U3O8 for a total M&I ISR resource of 17.12 Mlbs U3O8 at a 0.2 GT cu
Slide 17: Robust Project Economics - 2019 Preliminary Economic Assessment
Robust Project Economics - 2019 Preliminary Economic Assessment15 Dewey Burdock, South Dakota of this size Initial capital costs of US$31.7m is ‘sector leading’ for a project Pre-tax IRR of 55% at US$55/lb long-term uranium price (post- tax IRR of 50%) Mine Life 16 years Strong project economi
Slide 18: Gas Hills ISR Project Wyoming
Gas Hills ISR Project Wyoming NI 43-101 Compliant ISR Resource17 Estimated Measured and Indicated U3O8 mineral resource: 7,705,610 lbs at avg. grade of 0.101% Estimated inferred mineral resource: 427,817 lbs U3O8 at average grade of 0.052% Uranium Development in a Historic Uranium District Loc
Slide 19: Gas Hills ISR Project, Wyoming 2021 PEA Results
Gas Hills ISR Project, Wyoming 2021 PEA Results17 Mine Life 7 years Annual Production 1.0 Mlbs/yr LOM Production 6.5 Mlbs Initial Capital Costs US$26.0M (US$3.99/lb) Cash Operating Costs US$11.52/lb Gas Hills, Wyoming - Plant and well field operation US$5.83/lb - Resin processing and transport US$2.
Slide 20: Dominant New Mexico Position: America's Kazakhstan
Dominant New Mexico Position: America’s Kazakhstan Most properties identified as amenable to ISR, consistent with enCore’s ‘ISR First’ strategy New Mexico’s Grants Uranium District is one of the largest uranium districts in the world5 enCore holds a ‘checkerboard’ position of 468 sq. miles (300,
Slide 21: New Mexico: Crownpoint & Hosta Butte Project
New Mexico: Crownpoint & Hosta Butte Project A large ISR-amenable project that hosts an estimated 26.6 Mlbs Indicated mineral resource (12.68Mt at 0.105% eU3O8) and 6.1 Mlbs Inferred mineral resource (2.76Mt at 0.110% eU3O8) Crownpoint is permitted under Laramide Resources Ltd.’s Nuclear Regulat
Slide 22: Investment Summary
Investment Summary The premier ISR uranium developer in the Pipeline of advanced Texas-based projects USA focused on future production Leading land position in New Mexico with A strong team with vast industry large endowment of resources for long expertise across the nuclear fuel cycle term growth T
Slide 23: Contact
info@encoreuranium.com www.encoreuranium.com (778) 383-6746 enCore Board and Management at Rosita Processing Plant TSX.V: EU | OTCQB: ENCUF | 23
Slide 24: enCore Energy Resources: Pathway to Production Assets
enCore Energy Resources: Pathway to Production Assets Rosita Central Processing Plant, Texas Currently under development and modernization Completion date Q3/2022 NI 43-101 Mineral Resources Resource Category Million Tons Grade eU3O8% Attributable U3O8 (M lbs.*) TOTAL Indicated Mineral Resource 90.0
Slide 25: enCore Energy Resources: Non-Core Assets
enCore Energy Resources: Non-Core Assets Marquez-Juan Tafoya Project, New Mexico2 NI 43-101 Mineral Resources Project Million Tons Grade eU3O8% U3O8 (M lbs.*) Indicated mineral resource (Minimum GxT = 0.60) 7.10 0.127 18.10 Centennial Project, Wyoming14 Project Million Tons Grade eU3O8% U3O8 (M lbs.
Slide 26: References
References 1. NI-43-101 Technical Report, Crownpoint and Hosta Bute Uranium Project, McKinley County, New Mexico, USA completed by BRS Inc. and enCore Energy Corp. (effective February 25, 2022). 2. NI-43-101 Technical Report, Preliminary Economic Assessment, Marquez-Juan Tafoya Uranium Project, McKi