EU.V · 2022-05-03 12:00:00

Encore Energy Appoints Peter Luthiger as Chief Operating Officer

Management Changes

ENCORE ENERGY APPOINTS PETER LUTHIGER AS

CHIEF OPERATING OFFICER

TSX.V: EU

OTCQB:ENCUF

www.encoreuranium.com

CORPUS CHRISTI, Texas

May 3, 2022

/CNW/ -

enCore Energy Corp.

enCore

" or the "

Company

") (TSXV: EU)

(OTCQB: ENCUF) announced today the appointment of Mr.

Peter Luthiger

as Chief Operating Officer. Mr. Luthiger will be

responsible for the commissioning and operation of the Rosita Uranium Processing Plant in

South Texas

. The Plant

modernization and refurbishment is essential to the Company goal of becoming the next producer of American uranium. Mr.

Luthiger will also be integral to the Company's plant capacity expansion in

South Texas

, along with expansion of operations

Wyoming

South Dakota

, and

New Mexico

CEO

Paul Goranson

stated "We are very excited that

Peter Luthiger

has joined the enCore Energy team. I have had the

good fortune of working with Peter over a span of 25 years as his direct supervisor and as a colleague in the uranium

industry. He has earned my complete trust and has proven his capability of successfully delivering projects on time and on

budget. He brings a wealth of operational and management experience that bolsters enCore's industry leading expertise in

ISR uranium production. As we continue to advance to production in

South Texas

, while advancing future production in

Wyoming

and

South Dakota

, Peter has the proven track record to meet every target for enCore's business. I am personally

grateful that Peter saw enCore as the best work environment to lead in the next uranium renaissance in the U.S."

Peter Luthiger

, Chief Operating Officer

Mr. Luthiger brings over 35 years of in-situ recovery (ISR) and conventional uranium production, processing, exploration,

radiation safety and environmental management experience within the uranium fuel cycle. Recently serving as the Director of

Texas Operations for Energy Fuels Inc. he was responsible for managing the Alta Mesa ISR Uranium Project. While working

for Energy Fuels, Mr. Luthiger was responsible for the standby operations of the 1.5 million pound U

per year capacity

ISR production center during which time successful completion of groundwater restoration and release of financial assurance

with the

State of Texas

was achieved. Mr. Luthiger served as the Vice President of Mesteña Uranium LLC, a private

company that owned the Alta Mesa ISR Uranium Project, that at its peak operation employed a workforce of over 100 direct

and contractor employees. Prior to that, Mr. Luthiger worked for BHP Billiton PLC/Rio Algom Mining LLC, in Grants, New

Mexico where he was the Manager, Regulatory Compliance and Licensing where he managed the successful

decommissioning efforts of two former uranium mills and the accompanying underground mines. Mr. Luthiger was also

involved with the radiation safety programs for testing activities at the Nevada Test Site for the U.S. Department of Energy.

Mr. Luthiger also has extensive experience in effectively managing legislative and regulatory affairs as well as permitting and

compliance with a commitment to Health Safety and Environmental (HSE) management excellence. He has directly managed

reclamation and closure programs including surface reclamation for ISR and conventional mine/mill sites, tailings facilities,

groundwater restoration, and audit support for several diverse extraction operations.

Mr. Luthiger has a degree in Geological Engineering from the Mackay School on Mines,

University of Nevada, Reno

. He is

the Vice Chair of the Texas Mining and Reclamation Association, Section Chair and a member of the Texas Mining and

Reclamation Association, Section Chair and a member of the Society for Mining, Metallurgy and Exploration (SME).

Mr. Luthiger, as part of his compensation package, has been granted 250,000 stock options. 25% to vest six months

following the grant, and the remainder vesting in 25% increments every 6 months thereafter. The stock options are

exercisable for a term of five years at an exercise price of

$1.44

per common share.

Rosita Central Uranium Processing Plant (Rosita Plant)

enCore's Rosita Plant, located approximately 60 miles from

Corpus Christi, Texas

, is a licensed, past-producing in-situ

recovery (ISR) uranium plant currently under modernization and refurbishment. With a completion deadline at the end of

Q2/2022, the plant is on schedule and on budget to meet a 2023 production target. The Rosita Plant is designed to process

uranium feed from multiple satellite operations, all located in the

South Texas

area and is 1 of 11 licensed uranium

processing plants in

the United States

, 2 of which are owned by enCore Energy.

About enCore Energy Corp.

enCore Energy is rapidly advancing towards becoming the next producer of American uranium. With approximately 90 million

pounds of U

estimated in the measured and indicated categories and 9 million pounds of U

estimated in the inferred