enCore Energy Reaches Final Stage of Permitting at Upper Spring Creek; Alta Mesa PAA-8 and PAA-3 Extension Remain on Schedule

Upper Spring Creek’s plant and first wellfield are constructed and already expensed, with extraction expected shortly after authorization.

Rhea-AI Summary

enCore Energy (NASDAQ: EU; TSXV: EU) expects final authorization for Upper Spring Creek’s first uranium production area by November 13, 2026. The Texas Commission on Environmental Quality has completed its technical review and public notice process for the production area authorization, or PAA-1, advancing the expected approval date from earlier guidance.

The 100%-owned project’s ion-exchange plant and first wellfield are constructed and already expensed. enCore expects extraction to begin shortly after authorization, with uranium-loaded resin sent to its Rosita processing plant. A constructed waste disposal well remains in final testing and regulatory review; operational approval is required to support optimal production. Alta Mesa’s PAA-8 and PAA-3 Extension remain under technical review and on schedule. The company expects the three production areas to support extraction growth into 2027.

5 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointUpper Spring Creek technical review and public notice are complete, advancing the expected authorization date from earlier guidance.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Upper Spring Creek’s plant and first wellfield are constructed and already expensed, with extraction expected shortly after authorization.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Alta Mesa’s PAA-8 and PAA-3 Extension remain on schedule, with PAA-3 Extension permitting expected by year-end.
• Moderate point. Forward-looking: it has not happened yet and may not happen.The three production areas are expected to support enCore’s extraction growth into 2027.
• Minor pointPublic-notice changes implemented May 1, 2026 remove the opportunity for a potentially delaying public hearing.

Negative

• Moderate pointUpper Spring Creek final authorization remains pending, with the regulatory signature expected October 29–November 13, 2026.
• Moderate pointThe constructed waste disposal well still requires operational approval to support optimal production; testing and review continue.
• Moderate pointAlta Mesa’s PAA-8 and PAA-3 Extension technical reviews remain pending with the Texas regulator.

News Explained

With public comment closed, legislative changes to public-notice and hearing procedures effective May 1, 2026 mean no public hearing can now delay the Upper Spring Creek first-area permit process; final TCEQ authorization still requires a signature.

Key Figures

USC PAA-1 final authorization: On or before November 13, 2026 PAA-3 Extension permitting: Expected before the end of the year PAA-8 permitting: Expected early in the new year

USC PAA-1 final authorization

On or before November 13, 2026

Expected TCEQ authorization

PAA-3 Extension permitting

Expected before the end of the year

Alta Mesa

PAA-8 permitting

Expected early in the new year

Alta Mesa

Key Terms

isr, yellowcake, bleed stream

3 terms

isr technical

"Upper Spring Creek In-Situ Recovery ("ISR") Uranium Project"

ISR stands for socially responsible investing (from the French phrase Investissement Socialement Responsable) and means choosing stocks, bonds or funds based on environmental, social and governance criteria in addition to financial return. Like picking a brand that matches your values, ISR matters to investors because it helps align portfolios with personal or institutional priorities, can reduce exposure to companies with regulatory or reputational risks, and can influence demand and valuation for firms deemed more sustainable.

yellowcake technical

"processing into yellowcake"

Yellowcake is a coarse, powdery concentrate of uranium extracted from mined ore and refined into a form suitable for further processing into nuclear fuel. For investors, it matters because it represents the key raw material in the nuclear fuel supply chain—changes in yellowcake availability, production costs, or regulation can affect the value and profitability of mining and energy companies, similar to how crude oil inventories influence the oil sector.

bleed stream technical

"which will handle the bleed stream from ISR production operations"

A bleed stream is a small, controlled portion of fluid (liquid or gas) diverted from a main process flow to manage operating conditions or remove unwanted material. It is used to relieve pressure, control concentrations, purge impurities, or provide a sample for monitoring; the diverted flow is typically treated, recycled, or disposed of rather than becoming part of the finished product. A bleed stream differs from a product or waste line in that it is intentionally sized and routed to maintain stable process performance or safety, not primarily to carry final output.

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DALLAS, Oct. 27, 2026 /PRNewswire/ -- enCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the "Company" or "enCore"), America's Clean Energy Company™, today provided an update on permitting for the three new production areas that underpin its South Texas extraction outlook. The Production Area Authorization ("PAA") for the first production area at the 100%-owned Upper Spring Creek In-Situ Recovery ("ISR") Uranium Project ("USC PAA-1") has completed the Texas Commission on Environmental Quality's ("TCEQ") technical review and public notice process, with final authorization expected on or before November 13, 2026. At the Alta Mesa ISR Uranium Project, the TCEQ is working to complete its technical review of both the PAA-8 application and the PAA-3 Extension amendment. Both remain on schedule and are expected before the end of the year.

Highlights

• USC PAA-1 is in the final stage of permitting: the public comment period on the Final Draft Permit closed on October 19, 2026, and final TCEQ authorization is expected on or before November 13, 2026, an accelerated date from guidance issued in the Company's Q2-2026 guidance.
• USC is built and ready: the Satellite Ion Exchange ("IX") Plant and first production wellfield are constructed and already expensed. Uranium extraction is expected to begin shortly after receipt of the PAA, supplying uranium-loaded resin feed to the Company's fully licensed Rosita Central Processing Plant ("CPP").
• Alta Mesa PAA-8 and PAA-3 extension continue to work their way through TCEQ technical review and the wellfields remain on schedule as announced in our Q2 report with final permitting expected by the end of the year for PAA3 Extension and early in the new year for PAA8. With legislative changes to the public notice and hearing procedures implemented May 1, 2026, there will be no opportunity for a public hearing which could have otherwise delayed the process. 
• Together, these three production areas are expected to renew enCore's extraction growth profile into 2027.

Richard Little, Chief Executive Officer, stated: "Permitting has been the last step between the infrastructure we have built in South Texas and new production. We are prepared to initiate injection and recovery operations at Upper Spring Creek as soon as the final permit is received. At Upper Spring Creek, the initial designed capacity of the plant and first wellfield are constructed with a large majority of these expenses now behind us. All that is remaining now is a final review process of the permit along with the approval of our disposal well completion report. PAA-8 and the PAA-3 Extension at Alta Mesa are following the same path. These are the wellfields that support our improved extraction outlook for 2027, and we look forward to bringing them online."

Upper Spring Creek PAA-1: Final Authorization Expected Within Weeks

A PAA is the TCEQ authorization that permits ISR uranium extraction within a defined wellfield area. Receipt of USC PAA-1 will allow enCore to begin ISR operations at Upper Spring Creek, the largest satellite facility the Company has built to date. The USC PAA-1 application was submitted in May 2025 and progressed through the TCEQ's administrative review, a technical review that included seven revision cycles, and two public notice periods. Key milestones are summarized below:

Date	Milestone
May 27, 2025	PAA-1 application submitted to TCEQ
May 29, 2025	USC added to the Company's TCEQ radioactive material license, allowing construction of wellfields and the Satellite IX Plant (previously announced)
October 21, 2025	TCEQ administrative review completed
November 13, 2025	Notice of Receipt of Application and Intent to Obtain Permit ("NORI") published; initial public comment period opened
August 28, 2026	Initial Draft Permit issued following technical review and seven revision cycles
September 23, 2026	Final Draft Permit published with Notice of Application and Preliminary Decision ("NAPD")
October 19, 2026	Public comment period closed (grace period for comments postmarked by this date ended October 24, 2026)
Oct. 29 – Nov. 13, 2026	Final TCEQ authorization signature expected

Following the close of the notice period, the permit requires a final authorization signature from the TCEQ. Upon receipt, the Company expects to commence uranium extraction from the first USC wellfield, with loaded resin trucked to the Rosita CPP for processing into yellowcake.

To support optimal production, the USC project also requires TCEQ operational approval of its Waste Disposal Well ("WDW"), which will handle the bleed stream from ISR production operations. The WDW has been constructed and is in final testing and TCEQ review.

About the Upper Spring Creek ISR Project

The 100% Company-owned Project consists of a Satellite IX Plant and wellfield and is a key component of enCore's larger South Texas Uranium Project. This satellite facility will operate in conjunction with multiple future potential production units within the historic Clay West uranium district. The Project was previously held by Signal Equities LLC, which previously had licensed and permitted the property including the aquifer exemption as an ISR uranium project prior to 2020. The Company acquired the Project in December 2020. The uranium-mineralized sands at the Project lie within the Oakville Formation at depths typically between 300 and 450 feet below surface, allowing for efficient and economical uranium recovery with ISR methods.

Technical Disclosure and Qualified Person

Dain McCoig, P.E., MBA, enCore's Chief Operating Officer, and a Qualified Person under Canadian National Instrument 43-101 and S-K 1300, has reviewed and approved the technical disclosure in this news release on behalf of the Company.

About enCore Energy Corp.

enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable uranium to fuel the rapidly expanding U.S. nuclear energy needs. enCore's team is led by industry experts with extensive knowledge and experience in all aspects of uranium ISR operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a minimally invasive, eco-friendly, and economically competitive approach to mineral extraction technology co-developed by enCore's leadership.

Building on enCore's demonstrated and continuing success in South Texas, future projects in enCore's planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, the Dewey Burdock project in South Dakota, and the Gas Hills project in Wyoming. The Company holds other assets, including non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impacts from corporate projects.

Cautionary Note Regarding Forward-Looking Statements:

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 press release.

For further information:
William M. Sheriff, Executive Chairman & Chief Investment Officer
972-333-2214
info@encoreuranium.com
www.encoreuranium.com 

View original content:https://www.prnewswire.com/news-releases/encore-energy-reaches-final-stage-of-permitting-at-upper-spring-creek-alta-mesa-paa-8-and-paa-3-extension-remain-on-schedule-302920436.html

SOURCE enCore Energy Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When does enCore expect Upper Spring Creek’s first production permit?

enCore expects final authorization on or before November 13, 2026. Technical review and the public notice process are complete, and the remaining permitting step is the Texas Commission on Environmental Quality’s final authorization signature.

When will enCore start uranium extraction at Upper Spring Creek?

enCore expects uranium extraction to begin shortly after receipt of PAA-1. The plant and first production wellfield are constructed. Uranium-loaded resin will be trucked to the Rosita Central Processing Plant for processing into yellowcake.