enCore Energy Announces Appointment of Paul Goranson as Chief Executive Officer
enCore Energy Announces Appointment of Paul Goranson as Chief Executive
Officer
VANCOUVER, British Columbia, Sept. 14, 2020 -- enCore Energy Corp. (TSXV:EU; OTCQB:ENCUF) (the “Company”) is
pleased to announce the appointment of Paul Goranson, P.E., as Chief Executive Officer effective October 1, 2020. Dennis
Stover, currently serving as Chief Executive Officer, will continue to serve the Company as the Chief Technical Officer and a
Director.
William M. Sheriff, Executive Chairman of enCore Energy, stated, “On behalf of the encore Energy Board of Directors I am
extremely pleased to welcome Paul Goranson as our new Chief Executive Officer. Mr. Goranson is an experienced executive
with extensive expertise across the uranium sector. Under his leadership, and backed by one of the most experienced teams
in the industry, enCore will be well-placed to work towards advancing our goal to become a uranium producer in the United
States. I also want to thank Dr. Dennis Stover for his years at the helm, we are most fortunate that he will continue to provide
enCore and Group 11 with his ISR and other technical expertise in his new position as our Chief Technical Officer.”
”I am truly excited with enCore’s strategy and vision to build towards becoming a uranium producer in America,” said Paul
Goranson. “During my previous limited tenure on the Company’s Board, I developed a deep regard and respect for the
experience and energy of enCore’s management team. I believe that with the changes in the supply-demand balance in the
uranium markets, along with initiatives being carried forward by the U.S. Government, enCore Energy is well situated to
successful implement its strategy and vison. I am excited to be able to lead that effort.”
”Paul and I worked side by side for many years at Rio Algom Mining Corp. I am extremely pleased that he is taking the reins
at enCore,” added Dennis Stover. “I look forward to working with Paul as we accelerate our efforts to develop uranium
production facilities and expand our resource base in the United States.”
The appointment of Mr. Goranson as Chief Executive Officer provides the Company with the leadership and technical skill set
to advance enCore Energy Corp towards its goal of developing uranium production facilities in the United States. His vast
experience includes building, renovating and operating a number of ISR facilities in the United States. With his experience in
South Texas, he is particularly well suited to guide the Westwater transaction towards completion and advance the licensed
Texas facilities back into production.
The Company recently announced a binding letter of intent with Westwater Resources to acquire their United States uranium
assets. These assets include two licensed Texas-based uranium production facilities, mineral exploration leases in Texas,
and more than 270 square miles (180,000 acres) of patented mineral rights in New Mexico. This acquisition will more than
double the Company’s current mineral rights and holdings and add two already licensed uranium production facilities. The
Westwater acquisition, combined with enCore’s already extensive New Mexico holdings, will on closing, make the company
the dominant holder of high-quality uranium properties in New Mexico.
William Paul Goranson, P.E.
Paul Goranson has over thirty years of mining, processing and regulatory experience in the uranium extraction industry that
includes both conventional and in-situ recovery (ISR) mining. Most recently, Mr. Goranson was the Chief Operating Officer for
Energy Fuels Resources (USA) Inc., where he was responsible for the operations of the White Mesa Uranium Mill located in
Southeast Utah, the Nichols Ranch ISR uranium and Sheep Mountain projects located in Central Wyoming, and the Alta
Mesa ISR uranium project located in South Texas. He was closely involved with the company’s efforts at the federal level on
trade actions and the President’s Nuclear Fuel Working Group interagency process. Prior to the acquisition by Energy Fuels,
Inc. of Uranerz Energy Corporation, Mr. Goranson served as President, Chief Operating Officer and Director for Uranerz, where
he was responsible for commissioning, operating and expanding the Nichols Ranch ISR Uranium Project. In addition to those
duties, he also managed uranium marketing, regulatory and government affairs, exploration, and land groups.
Prior to his time with Uranerz, Mr. Goranson was President of Cameco Resources, a wholly-owned U.S. subsidiary of Cameco
Corporation. While President of Cameco Resources, Mr. Goranson's responsibilities included executive leadership for the
operations at the Smith Ranch-Highland (Wyoming), which produced over 5.5 million pounds of uranium, the Crow Butte
(Nebraska) ISR operations, the construction and startup of the North Butte (Wyoming) ISR project, and licensing and
permitting other projects in Wyoming and Nebraska for eventual expanded uranium production at new facilities.
Prior to Cameco Resources, Mr. Goranson was Vice President of Mesteña Uranium LLC where he led the construction,
startup and operation of the Alta Mesa project, in Texas, that achieved over one million pounds of uranium production per year
under his stewardship. At Mesteña, his responsibilities included responsibility for marketing uranium where he negotiated long
term uranium supply contracts with nuclear utilities as well as spot uranium sales. Prior to Mesteña, Mr. Goranson was the
manager for radiation safety, regulatory compliance and licensing with Rio Algom Mining LLC, a division of BHP Billiton, in
Utah, New Mexico, and Wyoming, and he served in various operational management positions for Uranium Resources, Inc.
(now Westwater Resources) in South Texas.
Mr. Goranson most recently served as the President of the Uranium Producers of America, immediate past President of the
Wyoming Mining Association, immediate Chairman of the Uranium Environmental Subcommittee for the National Mining
Association, Board member of the National Mining Association, and is currently a Board member of the Brush Country
Groundwater Conservation District. Mr. Goranson is a registered Professional Engineer in the State of Texas, and he holds a
Master of Science in Environmental Engineering and a Bachelor of Science in Natural Gas Engineering from Texas A&M
University-Kingsville and Texas A& I University, respectively. Dennis Stover will, effective October 1, 2020, be appointed as
Chief Technical Officer, and will remain a Director of the Company. Mr Goranson will, effective immediately, join the
Company’s Board of Directors.
Dennis Stover, Ph.D.
Dr. Dennis Stover, co-discoverer of the ISR process and patent holder on six ISR uranium applications is recognized as a
leading expert in in-situ metal recovery with dozens of relevant technical publications. As Chief Engineer for Everest Minerals
Corp, Dr. Stover was responsible for the design and construction of the Highland ISR Project, now owned by Cameco
Resources, in Wyoming as well as Everest's Hobson, Mt. Lucas and Las Palmas projects in south Texas. Subsequently, as
Director of ISR Technology for Rio Algom Mining Corp, he was responsible for design, construction, and startup of the Smith
Ranch Project, also now owned by Cameco Resources. As an independent consultant, he led the design team for Cameco's
commercial Inkai ISR Facilities in Kazakhstan prior to joining Energy Metals Corporation (EMC) where he oversaw EMC's
development of commercial production facilities in Texas and Wyoming. Dr. Stover holds BSC, MSC, and PhD degrees in
Chemical Engineering from the University of Michigan as well as a BA in Chemistry from Kalamazoo College. His academic
and applied interests have focused on electrochemical kinetics and surface chemistry, both key elements of the ISR process.
About enCore Energy Corp.
enCore Energy Corp. is focused on working towards becoming a domestic United States uranium producer. With significant
existing resources in the SW United States and a binding letter of intent to acquire production facilities in Texas along with
additional uranium resources in New Mexico, enCore will, upon completion of the Westwater transaction, will hold the largest
uranium land position in the Grants Mineral Belt and licensed processing facilities in Texas.
For additional information:
William M. Sheriff
Executive Chairman
972-333-2214
www.encoreenergycorp.com
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements within the meaning of applicable securities law including the
anticipated completion of the transaction and acquisition of the Marquez, Nose Rock and other properties, and the potential
advancement thereof. Forward- looking statements are statements that relate to future, not past, events. In this context,
forward - looking statements often address expected future business and financial performance, and often contain words such
as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might",
"could", "should", or "will" be taken or occur, or other similar expressions. Estimates of mineral resources and reserves are
also forward looking statements because they constitute projections regarding the amount of minerals that may be
encountered in the future. All statements, other than statements of historical fact, included herein including, without limitation;
statements about the terms and completion of the transaction are forward-looking statements. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results,
performance or achievements, or other future events, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on
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undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing
undue certainty to forward-looking statements.