enCore Energy Corp. (TSXV:EU; OTCQB:ENCUF) (the
“
Company”) is pleased to announce the appointment
of Paul Goranson, P.E., as Chief Executive Officer effective
October 1, 2020. Dennis Stover, currently serving as Chief
Executive Officer, will continue to serve the Company as the Chief
Technical Officer and a Director.
William M. Sheriff, Executive Chairman of enCore
Energy, stated, “On behalf of the encore Energy Board of Directors
I am extremely pleased to welcome Paul Goranson as our new Chief
Executive Officer. Mr. Goranson is an experienced executive
with extensive expertise across the uranium sector. Under his
leadership, and backed by one of the most experienced teams in the
industry, enCore will be well-placed to work towards advancing our
goal to become a uranium producer in the United States. I
also want to thank Dr. Dennis Stover for his years at the helm, we
are most fortunate that he will continue to provide enCore and
Group 11 with his ISR and other technical expertise in his new
position as our Chief Technical Officer.”
”I am truly excited with enCore’s strategy and
vision to build towards becoming a uranium producer in America,”
said Paul Goranson. “During my previous limited tenure on the
Company’s Board, I developed a deep regard and respect for the
experience and energy of enCore’s management team. I believe that
with the changes in the supply-demand balance in the uranium
markets, along with initiatives being carried forward by the U.S.
Government, enCore Energy is well situated to successful implement
its strategy and vison. I am excited to be able to lead that
effort.”
”Paul and I worked side by side for many years
at Rio Algom Mining Corp. I am extremely pleased that he is taking
the reins at enCore,” added Dennis Stover. “I look forward to
working with Paul as we accelerate our efforts to develop uranium
production facilities and expand our resource base in the United
States.”
The appointment of Mr. Goranson as Chief
Executive Officer provides the Company with the leadership and
technical skill set to advance enCore Energy Corp towards its goal
of developing uranium production facilities in the United States.
His vast experience includes building, renovating and operating a
number of ISR facilities in the United States. With his experience
in South Texas, he is particularly well suited to guide the
Westwater transaction towards completion and advance the licensed
Texas facilities back into production.
The Company recently announced a binding letter
of intent with Westwater Resources to acquire their United States
uranium assets. These assets include two licensed Texas-based
uranium production facilities, mineral exploration leases in Texas,
and more than 270 square miles (180,000 acres) of patented mineral
rights in New Mexico. This acquisition will more than double the
Company’s current mineral rights and holdings and add two already
licensed uranium production facilities. The Westwater acquisition,
combined with enCore’s already extensive New Mexico holdings, will
on closing, make the company the dominant holder of high-quality
uranium properties in New Mexico.
William Paul Goranson, P.E.
Paul Goranson has over thirty years of mining,
processing and regulatory experience in the uranium extraction
industry that includes both conventional and in-situ recovery (ISR)
mining. Most recently, Mr. Goranson was the Chief Operating Officer
for Energy Fuels Resources (USA) Inc., where he was responsible for
the operations of the White Mesa Uranium Mill located in Southeast
Utah, the Nichols Ranch ISR uranium and Sheep Mountain projects
located in Central Wyoming, and the Alta Mesa ISR uranium project
located in South Texas. He was closely involved with the company’s
efforts at the federal level on trade actions and the President’s
Nuclear Fuel Working Group interagency process. Prior to the
acquisition by Energy Fuels, Inc. of Uranerz Energy Corporation,
Mr. Goranson served as President, Chief Operating Officer and
Director for Uranerz, where he was responsible for commissioning,
operating and expanding the Nichols Ranch ISR Uranium Project. In
addition to those duties, he also managed uranium marketing,
regulatory and government affairs, exploration, and land
groups.
Prior to his time with Uranerz, Mr. Goranson was
President of Cameco Resources, a wholly-owned U.S. subsidiary of
Cameco Corporation. While President of Cameco Resources, Mr.
Goranson's responsibilities included executive leadership for the
operations at the Smith Ranch-Highland (Wyoming), which produced
over 5.5 million pounds of uranium, the Crow Butte (Nebraska) ISR
operations, the construction and startup of the North Butte
(Wyoming) ISR project, and licensing and permitting other projects
in Wyoming and Nebraska for eventual expanded uranium production at
new facilities.
Prior to Cameco Resources, Mr. Goranson was Vice
President of Mesteña Uranium LLC where he led the construction,
startup and operation of the Alta Mesa project, in Texas, that
achieved over one million pounds of uranium production per year
under his stewardship. At Mesteña, his responsibilities included
responsibility for marketing uranium where he negotiated long term
uranium supply contracts with nuclear utilities as well as spot
uranium sales. Prior to Mesteña, Mr. Goranson was the manager for
radiation safety, regulatory compliance and licensing with Rio
Algom Mining LLC, a division of BHP Billiton, in Utah, New Mexico,
and Wyoming, and he served in various operational management
positions for Uranium Resources, Inc. (now Westwater Resources) in
South Texas.
Mr. Goranson most recently served as the
President of the Uranium Producers of America, immediate past
President of the Wyoming Mining Association, immediate Chairman of
the Uranium Environmental Subcommittee for the National Mining
Association, Board member of the National Mining Association, and
is currently a Board member of the Brush Country Groundwater
Conservation District. Mr. Goranson is a registered Professional
Engineer in the State of Texas, and he holds a Master of Science in
Environmental Engineering and a Bachelor of Science in Natural Gas
Engineering from Texas A&M University-Kingsville and Texas
A& I University, respectively. Dennis Stover will, effective
October 1, 2020, be appointed as Chief Technical Officer, and will
remain a Director of the Company. Mr Goranson will, effective
immediately, join the Company’s Board of Directors.
Dennis Stover, Ph.D.
Dr. Dennis Stover, co-discoverer of the ISR
process and patent holder on six ISR uranium applications is
recognized as a leading expert in in-situ metal recovery with
dozens of relevant technical publications. As Chief Engineer for
Everest Minerals Corp, Dr. Stover was responsible for the design
and construction of the Highland ISR Project, now owned by Cameco
Resources, in Wyoming as well as Everest's Hobson, Mt. Lucas and
Las Palmas projects in south Texas. Subsequently, as Director
of ISR Technology for Rio Algom Mining Corp, he was responsible for
design, construction, and startup of the Smith Ranch Project, also
now owned by Cameco Resources. As an independent consultant, he led
the design team for Cameco's commercial Inkai ISR Facilities in
Kazakhstan prior to joining Energy Metals Corporation (EMC) where
he oversaw EMC's development of commercial production facilities in
Texas and Wyoming. Dr. Stover holds BSC, MSC, and PhD degrees
in Chemical Engineering from the University of Michigan as well as
a BA in Chemistry from Kalamazoo College. His academic and
applied interests have focused on electrochemical kinetics and
surface chemistry, both key elements of the ISR process.
About enCore Energy Corp.
enCore Energy Corp. is focused on working
towards becoming a domestic United States uranium producer. With
significant existing resources in the SW United States and a
binding letter of intent to acquire production facilities in Texas
along with additional uranium resources in New Mexico, enCore will,
upon completion of the Westwater transaction, will hold the largest
uranium land position in the Grants Mineral Belt and licensed
processing facilities in Texas.
For additional information: William M. Sheriff
Executive Chairman 972-333-2214 info@encoreenergycorp.com
www.encoreenergycorp.com
Neither 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.
Cautionary Note Regarding Forward-Looking
Statements
This news release includes certain
forward-looking statements within the meaning of applicable
securities law including the anticipated completion of the
transaction and acquisition of the Marquez, Nose Rock and other
properties, and the potential advancement thereof. Forward- looking
statements are statements that relate to future, not past, events.
In this context, forward - looking statements often address
expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other
similar expressions. Estimates of mineral resources and reserves
are also forward looking statements because they constitute
projections regarding the amount of minerals that may be
encountered in the future. All statements, other than statements of
historical fact, included herein including, without limitation;
statements about the terms and completion of the transaction are
forward-looking statements. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors, which may cause the actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Forward-looking
statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and the respective
companies undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable
securities laws. Investors are cautioned against attributing undue
certainty to forward-looking statements.
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