enCore Energy Announces Commercial Launch of New Green Extraction Technology for Gold Breakthrough recovery process eliminates cyanide In-situ mining a potential industry disruptor
enCore Energy Announces Commercial Launch of New Green Extraction
Technology for Gold
Breakthrough recovery process eliminates cyanide
In-situ mining a potential industry disruptor
VANCOUVER, British Columbia, March 02, 2020 -- enCore Energy Corp. (TSX-V: EU) (OTCQB: ENCUF) (the "Company")
announced today that the Company has signed an Letter of Intent (“LOI”) with EnviroLeach Technologies Inc. (CSE: ETI)
(OTCQB: EVLLF) and Golden Predator Mining Corp. (TSX-V: GPY) (OTCQB: NTGSF) to establish Group 11 Technologies Inc
(“Group 11”), a US-based technology firm focused primarily on non-invasive extraction technology utilizing environmentally-
friendly liquids to recover gold and other metals.
Group 11’s new proprietary process has been tested on high grade concentrates and is now ready for market and testing on
further applications, providing the mining industry for the first time with a commercially viable, sustainable alternative to
standard cyanide processes and conventional mining practices which often face community opposition and require slow-
moving and expensive regulatory compliance.
About Group 11 Technologies Inc.
Sustainable metals extraction has become a serious challenge for the mining industry which faces growing concerns over its
carbon footprint, energy consumption, operational safety and especially its impact on water use and water quality while
responding to an ever increasing need for metals in our daily lives. Each Group 11 owner makes an important contribution to
this business opportunity. EnviroLeach Technologies Inc. (CSE: ETI) (OTCQB: EVLLF) has developed an economically-viable
proprietary iodine leach technology. Encore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) has pioneered a proprietary expertise
in in-situ metal recovery that opens a remarkably large opportunity for recovering metals from deposits without the
environmental disturbance of both open pit and underground mining. Golden Predator Mining Corp. (TSXV:GPY)
(OTCQB:NTGSF) has spearheaded and successfully tested the application of EnviroLeach technology to the recovery of gold
from sulfide concentrates where cyanide is not feasible or permitted, using its proprietary mobile recovery unit. To learn more
about Group 11, please visit www.gr11tech.com.
William Sheriff, Executive Chairman of EnCore Energy, commented: “We intend to be disruptors in our industry. Mining needs
to become less invasive and more sustainable. Group 11 is our response, using a unique combination of proven, proprietary
knowledge to lessen the industry’s footprint without any sacrifice of efficiency. Dennis Stover is clearly one of the world’s
leading experts in the field of ISR. I first had the pleasure of working with Dennis Stover as our COO at Energy Metals where
we operated an ISR mine using non-invasive in-situ extraction successfully in the uranium sector. ISR for other metals has
enormous potential for ESG benefits if cyanide is not required. Combining our team’s expertise in ISR with EnviroLeach’s
environmentally-friendly solutions free of acids, toxic chemicals and cyanide is the key to a very exciting opportunity.”
Duane Nelson, President, and CEO of EnviroLeach, commented: “I am very excited that we will continue to advance the
application of our formulas for the in-situ recovery of gold and other metals. This application has the potential to change the
way the world mines. It has the potential to unlock the value of deposits in environmentally sensitive areas and it could also
provide a viable solution for thousands of smaller deposits worldwide that don’t justify the CAPEX of current conventional
mining methods.”
Background on Non-Invasive Extraction Technology
Non-invasive extraction of minerals, perfected by the team now at enCore, is known in the industry as In-situ Recovery (“ISR”)
and has been successfully utilized to recover metals including uranium and copper using liquid solutions other than cyanide.
Group 11 Technologies is committed to the development and application of ISR extraction for gold and other metals using
EnviroLeach’s patented environmentally-friendly liquids along with enCore’s expertise in ISR extraction. This combination of
expertise will advance a business model that has potential to disrupt the conventional mining industry.
In-Situ Recovery (meaning ‘in place’) is a non-invasive extraction method that has transformed the uranium industry. In ISR,
solvent-like fluids are circulated underground and returned to surface for further processing and recovery of the minerals. ISR
means no open pits or underground tunnels, no tailings or large waste dumps and no discharge of noxious chemical at
surface. It therefore has the potential to be a low-impact, low capital cost mining method. At the end of mine life, when many
projects are burdened by remediation and rehabilitation requirements, ISR means substantially reduced mine-closure costs
compared to conventional practices. In addition, energy requirements, water needs and the greenhouse gas footprint of mining
projects can be significantly reduced using ISR technology.
Under the terms of the LOI, enCore and EnviroLeach will be the largest shareholders of Group 11 with an initial stake of 40%
each. EnCore will provide $750,000 in funding and EnviroLeach will provide for the exclusive use of its non-invasive extraction
technology. Golden Predator will own an initial 20% interest and contribute mobile processing equipment and expertise in
utilizing EnviroLeach’s environmentally friendly solution for recovery of gold from sulphide concentrates, as demonstrated by
the successful test work at GPY’s 3 Aces Project. Upon completion of a definitive agreement, Group 11 will fund all ongoing
research and development expenditures for in-situ and secondary recovery applications. Completion of a definitive agreement
is subject to a number of conditions including but not limited to final term negotiations, licensing agreements and regulatory
approvals.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is engaged in the development and commercialization of environmentally-friendly formulas and
technologies for the treatment of materials in the mining and recycling sectors. Using its proprietary non-cyanide, water-based,
neutral pH treatment process, EnviroLeach extracts precious metals from ores, concentrates, and E-Waste using only FDA
approved additives and ambient temperature water.
Group 11 is backed by: a first-class staff of scientists and engineers; an extraordinary data set including tens of thousands of
individual assays; independent technical validations; strategic partners and over $20 million in research and development.
EnviroLeach’s technology is emerging as a potential new standard for the provision of eco-friendly hydrometallurgical extraction
of precious metals in both the mining and E-Waste sectors. Further information is available on the EnviroLeach web
site: https://enviroleach.com
About enCore Energy Corp.
enCore Energy Corp., with assets based entirely in the United States, has a 100% interest, free of holding costs, in 115,000+
acres (46,400 ha) of private mineral rights in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. These
deposits contain an estimated Indicated Mineral Resource of 26.6 million pounds of U3O8 at an average grade of 0.105% e
U3O8(1). A portion of these resources are under NRC license. The Company also holds the Marquez and Treeline projects in
New Mexico as well as other properties in Utah, Arizona, and Wyoming. The Company owns or has access to an extensive
collection of proprietary North American and global uranium data including the Union Carbide, US Smelting and Refining, UV
Industries, and Rancher’s Exploration databases in addition to a leading collection of geophysical data for the high-grade
Northern Arizona Strip district.
For additional information:
William M. Sheriff
Executive Chairman
972-333-2214
www.encoreenergycorp.com
(1) Technical Report, titled, "Crownpoint and Hosta Butte Uranium Project Mineral Resource Technical Report, McKinley
County, 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 the policies of the TSX Venture
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 laws 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
management's beliefs, estimates and opinions on the date that statements are made and the respective companies
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.