EU.V · 2023-05-24 12:00:00

enCore Energy Set to Join Russell 3000® Index NYSE American:EU

Listings & Exchange

enCore Energy Set to Join Russell 3000® Index

NYSE American:EU

TSXV:EU

www.encoreuranium.com

DALLAS, Texas

May 24, 2023

/CNW/ -

enCore Energy Corp.

(NYSEAmerican: EU) (TSXV: EU) (the

Company

" or "

enCore"

) is set to join the Russell 3000

Index effective after the US market opens on

June 26, 2023

according to a preliminary list of additions posted

May 19, 2023

. Membership in the

Russell 3000

Index, which remains in place for one year, means automatic inclusion in in the large-cap

Russell 1000

Index or small-cap Russell 2000

Index as well as the appropriate growth and value style

indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-

capitalization rankings and style attributes.

enCore Energy Executive Chairman,

William M. Sheriff

, said, "enCore's acceptance on the Russell 3000®

Index reflects our continued efforts to gain a greater awareness and presence within the US financial

community and the NYSE-American. The Russell indexes are widely followed by the investment

community providing enCore us with the opportunity to expand our access to the largest capital market in

the world. enCore remains committed to becoming the next producer of domestic uranium, essential to

the development of low carbon energy with environmentally-friendly in-situ recovery techEUnology."

Russell indexes are widely used by investment managers and institutional investors for index funds and as

benchmarks for active investment strategies. Approximately

$12.1 trillion

in assets are benchmarked

against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell Microcap

Index and the Russell indexes reconstitution, go to the

"Russell Reconstitution" section on the

FTSE Russell website

About enCore Energy Corp.

enCore Energy Corp. is committed to providing clean, reliable, and affordable domestic nuclear energy

by becoming the next

United States

uranium producer in 2023. enCore solely utilizes In-Situ Recovery

(ISR) for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore

Energy. In-Situ Recovery extracts uranium in a non-invasive process using natural groundwater and

oxygen, coupled with a proven ion exchange process, to recover the uranium. Uranium production is

planned at enCore's licensed and past-producing South Texas Rosita Processing Plant in 2023, and at its

licensed and past-producing South Texas Alta Mesa Processing Plant in 2024. Future projects in

enCore's production pipeline include the Dewey-Burdock project in

South Dakota

and the Gas Hills

project in

Wyoming

, along with significant uranium resource endowments in

New Mexico

providing long-

term opportunities. The enCore team is led by industry experts with extensive knowledge and experience

in all aspects of ISR uranium operations and the nuclear fuel cycle. enCore diligently works to realize

value from other owned assets, including our proprietary uranium database that includes technical

information from many past producing companies, from our various non-core assets, and by leveraging

our ISR expertise in researching opportunities that support the use of this technology as applied to other

metals. enCore is also committed to working with local communities and indigenous governments to

create positive impact from corporate developments.

About FTSE (Financial Times Stock Exchange)

Russell

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions

for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark

markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors

globally. Approximately

$20.1 trillion

is currently benchmarked to FTSE Russell indexes. For over 30

years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE

Russell indexes to benchmark their investment performance and create ETFs, structured products and

index-based derivatives. Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of

April 28, 2023

ranking them by total market capitalization.

FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit

www.ftserussell.com

Cautionary Note Regarding Forward-Looking Statements:

Certain information contained in this

news release, including: any information relating to the Company being a leading uranium company;

and any other statements regarding future expectations, beliefs, goals or prospects; may constitute

"forward-looking information" and "forward-looking statements" within the meaning of applicable

Canadian and

United States

securities legislation (collectively, "forward-looking statements"). All

statements in this news release that are not statements of historical fact (including statements

containing the words "expects", "is expected", "does not expect", "plans", "anticipates", "does not

anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget"

and similar expressions or variations (including negative variations) of such words and phrases, or

statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken)

should be considered forward-looking statements. All such forward-looking statements are subject to

important risk factors and uncertainties, many of which are beyond the company's ability to control or

predict. Forward-looking statements necessarily involve known and unknown risks, including, without

limitation, risks associated with general economic conditions; adverse industry events; future legislative

and regulatory developments; that results of past mining operations at the Alta Mesa and Rosita sites

are indicative of the results of proposed mining activities at those sites; that a production decision will

result in actual production commencing and that such production will be economically viable over time;

the ability of enCore to implement its business strategies; and other risks. A number of important

factors could cause actual results or events to differ materially from those indicated or implied by such

forward-looking statements, including without limitation exploration and development risks, changes in

commodity prices, access to skilled mining personnel, the results of exploration and development

activities; production risks; uninsured risks; regulatory risks; defects in title; the availability of materials

and equipment, timeliness of government approvals and unanticipated environmental impacts on

operations; risks posed by the economic and political environments in which the Company operates and

intends to operate; increased competition; assumptions regarding market trends and the expected

demand and desires for the Company's products and proposed products; reliance on industry

equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property;

the failure to adequately manage future growth; adverse market conditions, the failure to satisfy ongoing

regulatory requirements and factors relating to forward looking statements listed above which include

risks as disclosed in the companies' annual information form filings. Should one or more of these risks

materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual

results may vary materially from those described herein as intended, planned, anticipated, believed,

estimated or expected. The Company assumes no obligation to update the information in this

communication, except as required by law. Additional information identifying risks and uncertainties is

contained in filings by the Company with the various securities commissions which are available online

www.sec.gov

and

www.sedar.com

. Forward-looking statements are provided for the purpose of

providing information about the current expectations, beliefs and plans of management. Such

statements may not be appropriate for other purposes and readers should not place undue reliance on

these forward-looking statements, that speak only as of the date hereof, as there can be no assurance

that the plans, intentions or expectations upon which they are placed will occur. Such information,

although considered reasonable by management at the time of preparation, may prove to be incorrect

and actual results may differ materially from those anticipated. Forward-looking statements contained in

this news release are expressly qualified by this cautionary statement.

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https://www.prnewswire.com/news-releases/encore-energy-set-to-join-russell-3000-index-301832961.html

SOURCE

enCore Energy Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/May2023/24/c2767.html

%SEDAR: 00029787E

For further information:

William M. Sheriff, Executive Chairman, 972-333-2214,

[email protected], www.encoreuranium.com

CO: enCore Energy Corp.

CNW 07:00e 24-MAY-23

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