enCore Energy Signs Agreement to Acquire Uranium Properties
250-200 Burrard Street Vancouver BC Canada V6C 3L6
[email protected] www.encoreenergycorp.com
NEWS RELEASE
TSX.V: EU
February 8, 2018
NR 18-01
www.encoreenergycorp.com
enCore Energy Signs Agreement to Acquire Uranium Properties
February 8, 2018 – Vancouver, British Columbia – enCore Energy Corp. (TSXV : EU) ( the
“Company”) is pleased to announce that it has entered into an agreement with Metamin
Enterprises Inc. (“Metamin”), a private British Columbia company, to acquire Metamin’s wholly
owned subsidiary, Metamin US Inc. (“MEUS”) , which includes 13,605 acres of prospective
uranium mining properties located in the States of Arizona, Utah and Wyoming, USA, along with
drill core, geophysical data, drilling data and equipment related to the properties.
The Assets
MEUS owns or controls 3 Arizona State Mineral Leases and 467 unpatented Federal lode
mining claims covering more than 10,000 acres in the northern Arizona Strip District. The
Arizona Strip district is noted for uranium bearing breccia pipes which are typ ically the highest
grade deposits occurring in the United States. MEUS Arizona holdings include 3 recently
discovered uranium bearing breccia pipes that had been identified as priority drill targets from
newly applied VTEM geophysical surveys. Exploration success in the district has been greatly
enhanced with the development and application of VTEM. An additional 145 VTEM targets
have been identified on the property package.
Although much of the MEUS acreage was withdrawn from development in 201 2 by Executive
Order, which is currently under review by the current US administration, MEUS maintains and
asserts its claim to the mineral rights under valid claim. Currently MEUS has 3 valid discoveries
on federal land, 5 high priority VTEM targets on Arizona St ate Lease lands which are not
subject to withdrawal and are permitted for drilling. An additional 34 ready to drill high priority
targets occur on withdrawn federal lands with approved and bonded Notice of Intent (NOI)
permits. These federal lands are under legal proceedings and review.
In Utah and Wyoming MEUS owns unpatented claims, state leases and private leases covering
4.4 square miles including several former producing mines with historic resources remaining.
The Snow, and Probe mines in the Tidw ell district and the Sinbad mine in Emery County Utah
are reported to have historic mineral resources totaling several hundred thousand pounds
U3O8. Neither MEUS nor enCore have done sufficient work to verify or properly characterize
these historic mineral resources and they should not be relied upon . Considerable additional
work will be necessary to verify and report them under NI 43-101 standards. In the Temple
Mountain District of Utah, claims cover several untested high priority breccia pipe ta rgets.
MEUS is believed to be the first company to identify prospective breccia pipe targets in the
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250-200 Burrard Street, Vancouver, B.C. V6C 3L6
[email protected] www.encoreenergycorp.com
district. MEUS owns claims in Wyoming on the edge of Shirley Basin and covering a large
untested breccia pipe target in Crook County.
enCore plans to cont inue to maintain the MEUS office and warehouse in Kanab , Utah which
houses an extensive data collection, core, sample library and field equipment.
The Transaction
The Company plans to complete the transaction by way of purchase of the shares of Metamin’s
wholly owned Nevada subsidiary , Metamin US Inc., that holds the properties and assets. The
Company also has the option of purchasing the properties and assets directly. Pursuant to the
agreement, the Company will pay Metamin $55,000 in cash and issue 3, 000,000 common
shares at a deemed price of $0.05 per share as consideration for the acquisition. Completion of
the acquisition is subject to the approval of the TSX Venture Exchange.
About enCore Energy Corp.
enCore Energy Corp. is focused entirely on domestic U.S. uranium assets. The Company has a
100% interest, with no holding costs, on 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 Indicated mineral resource of 26.6 MM pounds of U3O8 at an average grade of
0.105% eU3O8 and an Inferred mineral resource of 6.1 MM pounds of U3O8 at an a verage
grade of 0.110% eU3O8 . A portion of these re sources are under NRC license. The Company
also holds the Marquez and Treeline projects in New Mexico as well as a number of other
properties in Utah, Arizona and Wyoming.
Dr. Douglas H. Underhill, CPG, a Qualified Person as defined by National Instrument 43-101
and Chief Geologist for the Company, has reviewed, verified and approved disclosure of the
technical information contained in this news release.
For additional information:
Dennis Stover
Chief Executive Officer
405-306-3491
www.encoreenergycorp.com
Neither the 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.