Eagle Nuclear Energy Engages Drilling Company And Files Permit Applications For PFS-Related Drill Program at Aurora
Rhea-AI Summary
Eagle Nuclear Energy (NASDAQ: NUCL) has engaged Harris Exploration Drilling to deliver up to three track-mounted core rigs for a 27,000 ft, 47-hole PFS-related drill program at the Aurora uranium project beginning in July and expected to run 3–4 months. BBA designed the program to support resource expansion, classification, metallurgy, pit geotechnical work and hydrogeology. SLR filed permit applications with the BLM and DOGAMI; both agencies acknowledged receipt. Eagle targets completion of a Pre-Feasibility Study in the second half of 2027 and will start an environmental baseline program ahead of drilling.
AI-generated analysis. Not financial advice.
Positive
- 27,000 ft drill program planned
- 47 drill holes designed to advance PFS
- Commitment of up to three core rigs from Harris Drilling
- Permit applications filed and acknowledged by BLM and DOGAMI
- PFS targeted H2 2027
Negative
- Permit approvals are pending (not yet granted)
- Drill start in July is contingent on receiving approvals
News Market Reaction – NUCL
On the day this news was published, NUCL gained 16.14%, reflecting a significant positive market reaction. Argus tracked a peak move of +18.4% during that session. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $37M to the company's valuation, bringing the market cap to $264.99M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
No uranium peers appeared in the momentum scanner, and sector-wide rotation was not flagged, suggesting the move in NUCL is company-specific to Aurora drilling and permitting progress.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 01 | Drill program plans | Positive | +0.0% | Outlined 27,000 ft, 47-hole drill program and PFS timing for Aurora. |
| Mar 18 | Permitting lead named | Positive | +2.7% | Appointed SLR to manage permitting and baseline work toward late-2027 PFS. |
| Mar 10 | Industry association | Positive | +13.0% | Joined Uranium Producers of America to reinforce role in U.S. uranium supply. |
| Mar 09 | Nasdaq milestone | Positive | +6.3% | Announced Nasdaq Opening Bell event highlighting public listing and strategy. |
Recent positive project and corporate milestones have mostly seen supportive price reactions, with one flat response to operational planning news.
Over the past month, Eagle Nuclear has steadily advanced the Aurora Uranium Project through corporate and project milestones. On Mar 9, 2026, it highlighted its Nasdaq Opening Bell event, followed by joining Uranium Producers of America on Mar 10 with a strong price response. Subsequent releases on Mar 18 and Apr 1 detailed permitting leadership and a 27,000 ft, 47-hole drill program toward a PFS in the second half of 2027. Today’s news operationalizes those plans with contractors and permit filings.
Market Pulse Summary
The stock surged +16.1% in the session following this news. A strong positive reaction aligns with a pattern where NUCL has often responded favorably to Aurora-related milestones, such as association membership and permitting steps with moves up to 12.99%. However, earlier planning for the same 27,000 ft drill program saw a flat reaction, showing not every update is rewarded. Investors would need to weigh execution risks around drilling, permitting timelines, and PFS delivery in the second half of 2027.
Key Terms
pre-feasibility study technical
pfs technical
metallurgy technical
geotechnical technical
hydrogeological technical
bureau of land management regulatory
process flow-sheet technical
AI-generated analysis. Not financial advice.
Eagle secures drill rigs for its PFS-related drill program by engaging Harris Exploration Drilling; SLR files permit applications for drill program with BLM and DOGAMI
RENO, Nev., April 09, 2026 (GLOBE NEWSWIRE) -- Eagle Nuclear Energy Corp. (“Eagle” or the “Company”) (NASDAQ: NUCL), a next-generation nuclear energy company which owns the largest conventional, measured and indicated uranium deposit in the United States, today announced that it has signed a Drilling Services Agreement with Fallon, NV based Harris Exploration Drilling & Associates Inc. (“Harris Drilling”) to complete the previously announced 27,000 ft PFS-related drill program at its flagship Aurora Uranium Project (“Aurora” or the “Project”) located along the Oregon–Nevada border, this summer.
Harris Drilling has committed to providing up to three track-mounted core drill rigs to complete the 47 drill hole program that has been specifically designed by Eagle’s resource consultants, BBA USA Inc. (“BBA”) to advance Aurora toward a Pre-Feasibility Study (“PFS”) by helping achieve the following objectives:
- Resource expansion and definition;
- Resource classification enhancement;
- Advanced metallurgy and process flow-sheet design;
- Rock mechanics and geotechnical analysis for pit engineering; and
- Hydrogeological analysis.
Eagle’s VP of Operations, Vishal Gupta, stated, “Harris Drilling has an excellent reputation as a top drilling contractor in the mining industry with deep experience in uranium projects, and comes highly recommended from within Eagle’s management team’s network. Above-ground mud systems will be used during the drill program in order to avoid digging sumps and reduce overall surface disturbance. The drill program is scheduled to commence in July and is expected to be completed within a 3-4 month time-frame. The PFS is slated to be completed in the second half of 2027.”
Eagle is also pleased to announce that the Company’s permitting manager, SLR International Corporation (“SLR”) has submitted permit applications on behalf of Eagle with the federal Bureau of Land Management (“BLM”) and the Oregon Department of Geology and Mineral Industries (“DOGAMI”) for approval of the PFS-related drill program. Both the BLM and DOGAMI have acknowledged receipt of the applications. Eagle anticipates obtaining the necessary approvals in time to commence the drill program in July.
Concurrent with advancing the Project on a technical and operational basis with assistance from BBA and Harris Drilling, Eagle’s management team is also progressing Aurora on the permitting front with the help of SLR. The Company is currently formalizing plans to commence a multi-faceted environmental baseline program in advance of this summer’s drill campaign at the Project.
Aurora anchors Eagle’s long-term strategy to develop an integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology. As global demand for nuclear power accelerates and the U.S. looks to strengthen domestic fuel supply chains, the Company believes Aurora is positioned to become a strategic source of uranium for the next generation of nuclear energy.
About Eagle Nuclear Energy Corp.
Eagle Nuclear Energy Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.
For more information about Eagle Nuclear Energy Corp., visit www.eaglenuclear.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Eagle’s, or its management team’s expectations concerning the PFS-related drill program; the outlook for Eagle’s business; the ability to execute Eagle’s strategies and reach permitting and operational milestones timely or at all; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle. The forward-looking statements are based on the current expectations of the management teams of Eagle, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Company’s previously completed business combination with Spring Valley Acquisition Corp. II (the “Business Combination”) on Eagle’s business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle’s securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle’s exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xx) Eagle’s ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that Eagle presently does not know or that Eagle currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the registration statement on Form S-4 initially filed by Eagle on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by Eagle from time to time, which may be found on the SEC’s website at www.sec.gov. Eagle cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Eagle undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle will make additional updates with respect to that statement, related matters, or any other forward-looking statements.
Investor Relations Contact:
775-335-2029
Investors@eaglenuclear.com
Media Relations Contact:
Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com
