enCore Energy Announces Formation of Group 11 Technologies Environmentally-Friendly Solutions and In Place Mining to Extract Precious Metals
enCore Energy Announces Formation of Group 11 Technologies
Environmentally-Friendly Solutions and In Place Mining to Extract Precious Metals
VANCOUVER, British Columbia, Sept. 01, 2020 -- enCore Energy Corp. (TSX-V: EU) (OTCQB: ENCUF) (the "Company")
reports that it has completed necessary agreements to acquire 40% of Group 11 Technologies Inc., (‘Group 11”) a United
States-based private company committed to testing and implementing non-invasive extraction technologies (“in-situ recovery”
or “ISR”) of precious metals with the use of environmentally-friendly solutions. Group 11 has now completed a successful
commercial launch. Effective August 28 th, 2020 the Group 11 has finalized all necessary Organizational, Shareholder, and
Licensing documentation with its founding partners and will now commence formal operations. Group 11’s initials steps will
include acquisition and subsequent testing of already identified gold projects that demonstrate specific qualities lending
themselves to the Company’s environmentally and economically superior processes. Group 11 is committed to providing
commercially viable, sustainable alternatives to conventional mining for the extraction and processing of precious metals.
Group 11 was founded and is owned by enCore Energy Corp. (“enCore”) (TSXV: EU; OTCQB: ENCUF) with 40% of the
common stock, EnviroLeach Technologies Inc. (“EnviroLeach”) (CSE : ETI; OTCQB: EVLLF) with 40% of the common stock
and Golden Predator Mining Corp. (“Golden Predator”) (TSXV: GPY; OTCQB: NTGSF) with 20% of the common stock. EnCore
has contributed $750,000 in initial funding and will provide in-situ extraction expertise, EnviroLeach has entered into a license
agreement with Group 11 for the use of its environmentally friendly metal recovery process and will provide chemical and
metallurgical expertise, Golden Predator will contribute mobile processing equipment and expertise in utilizing EnviroLeach’s
environmentally friendly solution for recovery of gold from sulphide concentrates. Group 11, a private company, will finance all
ongoing research and development expenditures for in-situ and secondary recovery applications.
About Group 11 Technologies Inc.
Sustainable metals extraction is a serious challenge for the mining industry which faces mounting concerns over its
environmental and 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 brings a vital skill set to
address these challenges and create a unique business opportunity. Group 11 is supported by a first-class staff of scientists
and engineers, an extraordinary data set, independent technical validations, strategic relationships, over $20 million in
research and development, and commercially proven processes and technologies.
Dennis Stover, CEO of enCore Energy stated: "The enCore team members were active inventors and innovators in the earliest
stages of developing and commercializing ISR technologies for the U.S. uranium mining industry and continue these leading
efforts today. We look forward to applying our expertise with this proven, environmentally sound technology to the recovery of
precious and other metals."
Background on Non-Invasive Extraction Technology
Non-invasive extraction of minerals has been successfully implemented in the mining sector with many innovators and patent
holders in the field on the team at enCore, one of the Group 11 partners. These innovators pioneered In-situ Recovery (“ISR”)
which has been successfully utilized to recover metals including uranium and copper using liquid solutions other than cyanide.
Group 11 is committed to the development and application of ISR extraction for gold and other metals using EnviroLeach’s
patented environmentally friendly process 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,
diluted water-based solutions are circulated underground, dissolving the targeted metals, and returned to surface for further
processing and recovery of the target metals. 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. When many projects are burdened by remediation and rehabilitation requirements, ISR means substantially
reduced mine closure time and costs compared to conventional practices. In addition, energy requirements, water usage and
the environmental footprint of mining projects can be significantly reduced using ISR technology.
Group 11 Technologies Inc. (‘Group 11’) is a private US-based company committed to the development and application of
environmentally and socially responsible mineral extraction. Its combination of non-invasive extraction technology and
environmentally friendly processes to recover gold and other metals provides an alternate solution to conventional open pit and
underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water
use and discharge, carbon footprint, energy consumption and safety while addressing a growing global need for metals in our
daily lives.
About enCore Energy Corp.
enCore Energy Corp., with assets 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. A portion of these resources are under NRC license. The Company also holds the Marquez project in New Mexico as
well as a dominant land position in Arizona with additional properties in Utah 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 Breccia Pipe 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 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
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