Urano Energy Strengthens I-70 Uranium Project with Key Acquisition from enCore Energy Corp.

Urano Energy Expands I-70 Uranium Project through Strategic Acquisition

In a significant development in the world of uranium mining, Urano Energy Corp. (CSE: UE) (OTCQB: UECXF) announced on October 27, 2025, its acquisition of the historically productive Snow and Probe Uranium Mines from enCore Energy Corp. This strategic move marks a critical expansion of Urano's I-70 Uranium Project, previously referred to as the Green River Project. The acquisition is poised to enhance Urano’s growth trajectory in Utah's rich uranium landscape.

The Snow and Probe Mines are conveniently located just 1.5 miles apart within unpatented mining claims that are adjacent to Urano's existing I-70 Uranium Project in Emery County, Utah. These mines were previously operated by Atlas Corporation, which reported an estimated historical resource of 295,534 pounds of U₃O₈, averaging 0.23% U₃O₈ until production ceased in 1981. This historical data not only adds valuable resources to Urano’s existing inventory but also positions the company for future exploration and production efforts.

Key Highlights of the Acquisition

1. Significant Land Expansion: The acquisition adds approximately 599 acres (2.42 km²) to Urano’s mineral rights, increasing the company’s total footprint at the I-70 Uranium Project by about 60%.
2. Historical Production Insight: From 1973 to 1982, Atlas Corp. successfully extracted around 935,000 pounds of U₃O₈ with an average concentration of 0.19%. The historical assessment from Atlas has identified remaining resources alongside multiple drill-ready exploration targets, indicating potential for further discovery.
3. Geological Favorability: The uranium deposits exist within the Saltwash Member of the Jurassic Morrison Formation, recognized as a prominent host for uranium-vanadium mineralization across southeastern Utah, enhancing the feasibility for future mining projects.

CEO's Statement

Jason Bagg, CEO of Urano Energy, expressed optimism about this strategic acquisition, stating, "This acquisition not only significantly expands our operation area but also brings us valuable historical mining data from Atlas. By integrating this data with our evaluations, we can enhance our uranium inventory and create significant value as we focus on advancing our portfolio towards NI 43-101 compliance."

Such compliance is crucial for ensuring transparency and professionalism in the mining sector, reinforcing investor confidence and attracting further investment.

Financial Aspects of the Deal

The terms of the acquisition included an immediate cash payment of CAD 65,980.60, complemented by the issuance of CAD 200,000 worth of common shares in Urano Energy. This financial model underscores Urano's commitment to strategically invest in opportunities that allow for growth while also offering stakeholders a vested interest in the mines' potential profitability.

The I-70 Uranium Project Overview

The I-70 Uranium Project holds historical significance due to its mining history, notably when Atlas Corp operated a large uranium mill in Moab, Utah during the late 20th century. With uranium characterized primarily in the Salt Wash Member of the Jurassic Morrison Formation, the project is already pre-approved for small-scale underground mining operations, facilitating swift exploration and production commenced with less regulatory complexity.

Furthermore, historical reports, certified by independent mining engineers, yield a reliable foundation for modern assessments. Urano intends to prioritize this project for future drilling expeditions and necessary technical reporting as prescribed by NI 43-101 standards.

Urano Energy's Future Outlook

Urano Energy positions itself strategically in a growing market, as the demand for clean energy and domestic uranium grows in the United States. The company is moving forward with plans to enhance its mineral exploration projects, ensuring alignment with current industry standards to secure both ecological and economic benefits.

As trends in energy production shift towards sustainability, developments like Urano’s acquisition signify important steps towards fulfilling uranium resources while maintaining environmental considerations. The strategic expansion into the I-70 area allows Urano to participate more robustly in the evolving landscape of uranium mining in North America, setting the stage for a brighter energy future.

In conclusion, Urano Energy's acquisition of the Snow and Probe Uranium Mines exemplifies a substantial enhancement to its operational capabilities and resource access, ensuring the company is well-positioned for future challenges and opportunities in the uranium market.