enCore Energy Announces Group 11 Technologies Update and Webinar


enCore Energy Announces Group 11 Technologies Update and Webinar

 

July 26, 2021 – Corpus
Christi, Texas – enCore Energy Corp.
(TSXV: EU; OTCQB:ENCUF) (the “Company”) is pleased to advise that Group 11 Technologies Inc., a private US-based company held 40%, pre-financing, by enCore Energy, has completed a USD $1 million financing with accredited investors. Proceeds will advance test work to assess the amenability and recovery rates for gold extraction through the combination of in situ recovery technology and an environmentally friendly water-based solution.

Register for Live
Webcast – July 26, 2021

Management of GFG and Group 11 will host a webcast on Monday, July 26, 2021, at 2:30 pm Eastern Standard Time (11:30 am Pacific Standard Time) to discuss Group 11’s innovative technology and the upcoming programs. To register please visit: https://my.6ix.com/event/gfg-and-group11/

After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast. A replay of the webcast will be available following the conclusion of the call.

About Group 11
Technologies Inc.

Group 11 is a private US-based company committed to the development and application of environmentally and socially responsible precious metals mineral extraction. The combination of in-situ recovery extraction (ISR) technology and environmentally friendly water based chemistry to recover gold and other metals provides a promising alternate solution to conventional open pit and underground mineral extraction. The goal of advancing sustainable extraction considers growing concerns surrounding water use and discharge, carbon footprint, energy consumption, community stakeholders and workplace safety while addressing a growing global need for metals in our daily lives. Group 11 was founded by Enviroleach Technologies Inc. (CSE: ETI; OTCQB: EVLLF), Encore
Energy Corp.
(TSXV: EU; OTCQB: ENCUF) and Golden Predator Mining Corp. (TSXV: GPY; OTCQB: NTGSF).

Group 11 is a group of elements in the periodic table, also known as the
coinage metals, consisting of gold (Au), silver (Ag) and copper (Cu).

About enCore Energy
Corp.

enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the Company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources. enCore Energy also holds 35.3% of Group 11 Technologies Inc.

For additional information:

William M. Sheriff

Executive Chairman

972-333-2214

info@encoreenergycorp.com

www.encoreenergycorp.com

Release – Capstone Green Energy CEO Darren Jamison To Participate In Water Tower Research Fireside Chat Series

 

Capstone Green Energy CEO, Darren Jamison, To Participate In Water Tower Research Fireside Chat Series

 

Webcast to Be Held on Thursday, July 22, 2021 at 12:00 PM PT / 3:00 PM ET

VAN NUYS, CA / ACCESSWIRE / July 20, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), a global partner in carbon reduction and on-site resilient green energy solutions, will be participating in the Water Tower Research Virtual Fireside Chat Series on Thursday, July 22, 2021, at 12:00 PM PT / 3:00 PM ET. The topic will be “An Update on Strategic Initiatives.” Registration for the live event is limited, but the presentation may be accessed at any time after the event for replay.

Darren Jamison, Capstone Green Energy’s President and Chief Executive Officer, will participate in the Fireside Chat Series hosted by Shawn Severson, Head of ClimateTech and Sustainable Investing at Water Tower Research.

The topic of the Fireside Chat is a review and update on the Company’s strategic initiatives surrounding its recent transformation and expansion to provide more comprehensive microgrid solutions for customers.

Capstone Green Energy’s four business lines are:

  • Energy as a Service (EaaS) through its industry-leading Factory Protection Plan (FPP) service program, microturbine rental fleet, and Distributor Support System (DSS).
  • Energy Conversion Products via its existing microturbine products and additional energy conversion and storage products, including Baker Hughes industrial gas turbines.
  • Energy Storage Products, which will begin to manufacture modular hybrid energy stations and lithium-ion battery energy storage systems (BESS) to be sold individually or combined as part of a custom microturbine battery storage solution.
  • Hydrogen Solutions, which will focus on expanding the Company’s capability to use hydrogen as a fuel in its gas microturbines with a development roadmap to 100% hydrogen.

The presentation is open to all investors and will be webcast live and available for replay by visiting the Investor Relations section of the Company’s website at www.CapstoneGreenEnergy.com and on the Water Tower Research website at www.watertowerresearch.com.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited, but the presentation may be accessed at any time after the event for replay.

REGISTER HERE

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – enCore Energy Provides South Texas Uranium Operations Update


enCore Energy Provides South Texas Uranium Operations Update

 

July 20, 2021 – Corpus Christi, Texas – enCore Energy Corp.
(TSXV: EU; OTCQB:ENCUF) (the “Company”) is pleased to provide an update on its South Texas Uranium Operations. Since acquiring the uranium assets from Westwater Resources, Inc. on December 30, 2020, enCore Energy has aggressively executed its strategy to become the newest in-situ recovery (“ISR”) uranium producer in the U.S. with operational highlights including:

  • Acquisition of mineral and surface properties in known uranium historic resource areas, including several that are partially permitted and previously licensed Texas projects, located within 75 miles of the Rosita Central Processing Plant. These properties provide a pipeline of future production projects to feed the Rosita plant as satellite operations;
  • Commencement of the refurbishment and upgrade work for the Rosita Processing Facility projected for completion by Q2 2022;
  • Preparation of applications to the State of Texas for the commencement of confirmation drilling;
  • Completion of surface reclamation and decommissioning work at the former Vasquez ISR project. The Company is now working with the State of Texas to finalize and release the bonding as sites are returned to their prior use;
  • Relocation of the Corporate Office to Corpus Christi, Texas.

Paul Goranson, enCore Energy Chief Executive Officer said, “Our team at enCore has been executing our South Texas strategy which prioritizes restoring the Rosita processing facility to production capability along with securing additional resources to feed the plant over the coming years We will continue to move forward on our initiatives, meeting our key milestones while nuclear energy continues to establish itself as the low carbon emission, affordable and sustainable energy source.”

About enCore Energy Corp.

enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the Company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources.

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 policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.

No stock exchange, securities
commission or other regulatory authority has approved or disapproved the
information contained herein. This press release contains projections and
forward-looking information that involve various risks and uncertainties
regarding future events. Such forward-looking information can include without
limitation statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future performance. There
are numerous risks and uncertainties that could cause actual results and the
Company’s plans and objectives to differ materially from those expressed in
the forward-looking information. Actual results and future events could
differ materially from those anticipated in such information. These and all
subsequent written and oral forward-looking information are based on
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Except as required by
law, the Company assumes no obligation to update forward-looking information
should circumstances or management’s estimates or opinions change.

Release – Indonesia Energy Discovers Oil in the First New Well at Kruh Block


Indonesia Energy Discovers Oil in the First New Well at Kruh Block

 

Drilling Rig Has Moved to New Location to Drill Second New Well

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / July 20, 2021 / IndonesiaEnergy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it has discovered oil in its “Kruh 25” well and the drilling rig has now moved to the second well location and will commence the drilling of its second new well (called “Kruh 26”) in the next few weeks. This activity is a continuation of IEC’s previously announced plan to drill three new wells at Kruh Block this year, with more wells anticipated to follow over the next several years.

The Kruh 25 well is still in the stage of a “cleaning up” process where the well is flowing crude oil with decreasing amount of drilling fluids daily. IEC also plans to conduct its planned stimulation operations on all three new wells and will announce production rates after such stimulation is completed on all three wells.

IEC also announced that the oil-bearing interval (meaning the top of the oil zone to the bottom of the oil zone) in the Kruh 25 well was thicker and therefore larger than anticipated.

The Kruh 25 well was drilled to a depth of 3,368 feet. Completion of the well took longer than anticipated because of new restrictions that were initiated by the Government of Indonesia because of the significant increase in cases of Covid-19 which delayed operations.

Mr. Frank Ingriselli, IEC’s President, commented “This is a significant milestone for IEC as we begin to deliver on the potential for new production at Kruh Block per our announced plans. We are very excited that our first of our three anticipated back-to-back wells at the Kruh Block has discovered oil and the producing zone was bigger than anticipated. We accomplished this notwithstanding delays we had to overcome, first because of permitting and then because of new government Covid restrictions that affected logistical operations. We look forward to drilling the final two wells in this three well campaign for 2021 and then maximizing new production with a planned stimulation program that we expect will significantly grow our cash flow and will maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including the results of IEC’s drilling activities at Kruh Block as described herein) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

Indonesia Energy Discovers Oil in the First New Well at Kruh Block


Indonesia Energy Discovers Oil in the First New Well at Kruh Block

 

Drilling Rig Has Moved to New Location to Drill Second New Well

JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / July 20, 2021 / IndonesiaEnergy Corporation (NYSE American:INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it has discovered oil in its “Kruh 25” well and the drilling rig has now moved to the second well location and will commence the drilling of its second new well (called “Kruh 26”) in the next few weeks. This activity is a continuation of IEC’s previously announced plan to drill three new wells at Kruh Block this year, with more wells anticipated to follow over the next several years.

The Kruh 25 well is still in the stage of a “cleaning up” process where the well is flowing crude oil with decreasing amount of drilling fluids daily. IEC also plans to conduct its planned stimulation operations on all three new wells and will announce production rates after such stimulation is completed on all three wells.

IEC also announced that the oil-bearing interval (meaning the top of the oil zone to the bottom of the oil zone) in the Kruh 25 well was thicker and therefore larger than anticipated.

The Kruh 25 well was drilled to a depth of 3,368 feet. Completion of the well took longer than anticipated because of new restrictions that were initiated by the Government of Indonesia because of the significant increase in cases of Covid-19 which delayed operations.

Mr. Frank Ingriselli, IEC’s President, commented “This is a significant milestone for IEC as we begin to deliver on the potential for new production at Kruh Block per our announced plans. We are very excited that our first of our three anticipated back-to-back wells at the Kruh Block has discovered oil and the producing zone was bigger than anticipated. We accomplished this notwithstanding delays we had to overcome, first because of permitting and then because of new government Covid restrictions that affected logistical operations. We look forward to drilling the final two wells in this three well campaign for 2021 and then maximizing new production with a planned stimulation program that we expect will significantly grow our cash flow and will maximize returns on our investments and grow shareholder value.”

About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American:INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.

Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the IEC’s control, that could cause actual results (including the results of IEC’s drilling activities at Kruh Block as described herein) to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, www.sec.gov. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com

SOURCE: Indonesia Energy Corporation Limited

enCore Energy Provides South Texas Uranium Operations Update


enCore Energy Provides South Texas Uranium Operations Update

 

July 20, 2021 – Corpus Christi, Texas – enCore Energy Corp.
(TSXV: EU; OTCQB:ENCUF) (the “Company”) is pleased to provide an update on its South Texas Uranium Operations. Since acquiring the uranium assets from Westwater Resources, Inc. on December 30, 2020, enCore Energy has aggressively executed its strategy to become the newest in-situ recovery (“ISR”) uranium producer in the U.S. with operational highlights including:

  • Acquisition of mineral and surface properties in known uranium historic resource areas, including several that are partially permitted and previously licensed Texas projects, located within 75 miles of the Rosita Central Processing Plant. These properties provide a pipeline of future production projects to feed the Rosita plant as satellite operations;
  • Commencement of the refurbishment and upgrade work for the Rosita Processing Facility projected for completion by Q2 2022;
  • Preparation of applications to the State of Texas for the commencement of confirmation drilling;
  • Completion of surface reclamation and decommissioning work at the former Vasquez ISR project. The Company is now working with the State of Texas to finalize and release the bonding as sites are returned to their prior use;
  • Relocation of the Corporate Office to Corpus Christi, Texas.

Paul Goranson, enCore Energy Chief Executive Officer said, “Our team at enCore has been executing our South Texas strategy which prioritizes restoring the Rosita processing facility to production capability along with securing additional resources to feed the plant over the coming years We will continue to move forward on our initiatives, meeting our key milestones while nuclear energy continues to establish itself as the low carbon emission, affordable and sustainable energy source.”

About enCore Energy Corp.

enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the Company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources.

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 policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.

No stock exchange, securities
commission or other regulatory authority has approved or disapproved the
information contained herein. This press release contains projections and
forward-looking information that involve various risks and uncertainties
regarding future events. Such forward-looking information can include without
limitation statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future performance. There
are numerous risks and uncertainties that could cause actual results and the
Company’s plans and objectives to differ materially from those expressed in
the forward-looking information. Actual results and future events could
differ materially from those anticipated in such information. These and all
subsequent written and oral forward-looking information are based on
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Except as required by
law, the Company assumes no obligation to update forward-looking information
should circumstances or management’s estimates or opinions change.

Capstone Green Energy CEO, Darren Jamison, To Participate In Water Tower Research Fireside Chat Series

 

Capstone Green Energy CEO, Darren Jamison, To Participate In Water Tower Research Fireside Chat Series

 

Webcast to Be Held on Thursday, July 22, 2021 at 12:00 PM PT / 3:00 PM ET

VAN NUYS, CA / ACCESSWIRE / July 20, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), a global partner in carbon reduction and on-site resilient green energy solutions, will be participating in the Water Tower Research Virtual Fireside Chat Series on Thursday, July 22, 2021, at 12:00 PM PT / 3:00 PM ET. The topic will be “An Update on Strategic Initiatives.” Registration for the live event is limited, but the presentation may be accessed at any time after the event for replay.

Darren Jamison, Capstone Green Energy’s President and Chief Executive Officer, will participate in the Fireside Chat Series hosted by Shawn Severson, Head of ClimateTech and Sustainable Investing at Water Tower Research.

The topic of the Fireside Chat is a review and update on the Company’s strategic initiatives surrounding its recent transformation and expansion to provide more comprehensive microgrid solutions for customers.

Capstone Green Energy’s four business lines are:

  • Energy as a Service (EaaS) through its industry-leading Factory Protection Plan (FPP) service program, microturbine rental fleet, and Distributor Support System (DSS).
  • Energy Conversion Products via its existing microturbine products and additional energy conversion and storage products, including Baker Hughes industrial gas turbines.
  • Energy Storage Products, which will begin to manufacture modular hybrid energy stations and lithium-ion battery energy storage systems (BESS) to be sold individually or combined as part of a custom microturbine battery storage solution.
  • Hydrogen Solutions, which will focus on expanding the Company’s capability to use hydrogen as a fuel in its gas microturbines with a development roadmap to 100% hydrogen.

The presentation is open to all investors and will be webcast live and available for replay by visiting the Investor Relations section of the Company’s website at www.CapstoneGreenEnergy.com and on the Water Tower Research website at www.watertowerresearch.com.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited, but the presentation may be accessed at any time after the event for replay.

REGISTER HERE

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – Capstone Green Energy To Provide Hydrogen Blend Microturbines For Industrial Application In Europe

 


Capstone Green Energy To Provide Hydrogen Blend Microturbines For Industrial Application In Europe

 

Austrian Power System will rely on Rooftop Solar to Generate Green Hydrogen

VAN NUYS, CA / ACCESSWIRE / July 19, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it will be providing two C65 microturbines to Austrian company Innovametall Stahl- und Metallbau for use in an ultra-low emissions Combined Heat & Power (CHP) system. The contract was secured by Wels Strom GmbH, Capstone’s distributor in Austria and Germany.

This will be the first hydrogen-fueled microturbine system in Europe. The system will initially run on 10% hydrogen blended with natural gas, with the amount of hydrogen expected to increase as Capstone approves higher blend levels in the future.

Capstone Green Energy is continuing to expand and develop its new Hydrogen Solutions business line. The Company recently released its first commercially available hydrogen-based CHP product, which can safely run on a 10% hydrogen – 90% natural gas mix, and the Company is targeting a commercial release of 30% hydrogen – 70% natural gas mix product by March 31, 2022, the end of Capstone’s current fiscal year.

The system to be provided to Innovametall Stahl- und Metallbau, which will provide efficient, on-site power to a powder coating production facility in Freistadt, will be designed in a hybrid configuration in which solar panels installed on the roof of the Innovametall industrial hall will provide renewable electricity. The excess electricity not required for production will be used to generate hydrogen, which will be used to fuel the microturbines. From there, the exhaust from the turbines will be captured and used in the facility’s powder coating furnace.

In addition to the microturbine system, which is expected to be commissioned in October 2021, Innovametall has purchased a 10-year Factory Protection Plan, which fixes maintenance costs and provides both planned and unplanned repairs, among other benefits for the duration of the contract.

“This is an important project, particularly as the Austrian government has instituted ambitious plans to integrate hydrogen into its climate and energy strategy,” said Leopold Berger, Head of Energy Systems at Wels Strom. “We aim to demonstrate, not just the successful application of renewable hydrogen as a fuel, but also the high efficiency and reliability benefits of this type of a CHP system.”

“As the world starts to take more aggressive steps to address climate change, innovative solutions like this renewable hydrogen-based system will become more commonplace,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “We are thrilled to offer a renewable hydrogen-based solution to meet the clean energy goals of today’s progressive businesses.”

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Biofuels, Biodiversity and Climate Change



Raze Paradise to Put in a Biofuel Crop? No, There Are Far Better Ways to Tackle Climate Change

 

 

We all know action on climate change is urgently needed. But that doesn’t mean a forest should be razed to build a wind farm. Nor should vast fields of a single crop be grown year after year – reducing the number of other species that can live there – even if the plant is used to produce renewable biofuel.

Climate change and biodiversity loss are the two greatest challenges to humanity and our planet. But they’re often dealt with by separate laws and policies, which can lead to perverse, unwanted outcomes.

 

This article was republished with permission
from 
The Conversation, a news site dedicated to sharing ideas from academic
experts. It represents the research-based findings and opinions of
Michelle Lim, Senior
Lecturer, Macquarie Law School, Macquarie University.

Michelle Lim was a co-author of the “IPBES-IPCC Co-sponsored Workshop Report on Biodiversity and
Climate Change

discussed in the article.

 

Clearly, this siloed approach must change. This was recognized in a draft plan by the Convention on Biological Diversity, released overnight, which stated that biodiversity should not be harmed by efforts to tackle climate change.

But how do we ensure solutions to one of these wicked problems does not worsen the other? Some 50 of the world’s leading researchers on biodiversity and climate have released a report which sought to answer this question. Below, I outline the conundrums we tackled and the solutions we came up with.

 

A World-First
Collaboration

Our report, released last month, represents the first-ever collaboration between the world’s largest research and policy communities on biodiversity and climate – the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) and the Intergovernmental Panel on Climate Change (IPCC).

IPBES is an independent intergovernmental body that synthesises evidence on the state of biodiversity, ecosystems and natures’ contributions to people. The IPCC is the United Nations body for assessing climate science.

The word “biodiversity” refers to the variety of living things: all the animals, plants and tiny micro-organisms on Earth, including the genetic information they contain and the ecosystems they form.

 

 

Biodiversity loss, then, is a reduction in the variety of species in an ecosystem, a geographic area or the planet as a whole. Biodiversity, including extinctions, is currently declining at rates unprecedented in human history.

There’s a growing recognition that climate, biodiversity and human well-being are inextricably linked.

To date, biodiversity loss has largely been caused by human actions which harm land, rivers and oceans. However, research suggests worsening climate change will be the main cause of global biodiversity loss this century.

For example, climate change is causing marine heatwaves which threaten the existence of the Great Barrier Reef. Climate change also makes bushfires more intense and frequent, pushing species closer to extinction.

Biodiversity loss can also make climate change worse. For example, forests store large amounts of carbon, and their destruction is a key source of greenhouse gas emissions.

Robbing
Peter to Pay Paul

Bioenergy crops such as corn, canola and soybeans can be processed and used as a fuel for heat or energy. This can provide an alternative energy source to fossil fuels. And forest plantations storing carbon dioxide can be an effective way to reduce atmospheric carbon levels.

But these climate solutions can be bad for nature. Crop or forest monocultures greatly diminish the diversity of other plant and animal species the land can support. Such practices can also degrade ecosystems and damage native species.

Similarly, renewable energy technologies can harm biodiversity. For example, large-scale solar plants across vast areas of land can destroy animal habitats and disrupt wildlife movement.

Crucially, climate and biodiversity interventions can also be harmful to human well-being. Many communities in developing countries rely directly on nature for their everyday needs. Efforts to protect biodiversity by locking up natural areas in forest reserves can deprive local people of their lands and erode their food security.

What Must
Be Done?

Our report sets out key steps to protecting the climate, biodiversity and human well-being in unison. I outline these below.

 

Protect
and Restore Carbon-Rich Ecosystems

This is the number one priority for joint action on climate and biodiversity. It is critical, however, that such processes involve – and consider the needs of – local communities. They must also take future climate conditions into account.

Slash Carbon
Emissions

By storing carbon in forests, wetlands and other ecosystems, nature can do a lot to tackle climate change. But it can’t do everything. Ambitious reductions in greenhouse gas emissions are needed across multiple sectors of the global economy. Without this, it will be virtually impossible to restore and protect natural ecosystems.

Increase Sustainable
Agricultural and Forestry Practices

Food systems contribute up to one-third of total human-caused greenhouse gas emissions. The agricultural sector must urgently reduce waste. And if humans, particularly those in rich countries, eat less meat this will also help address emissions and biodiversity loss. In the forestry sector, careful species selection and management can mitigate climate while being good for biodiversity.

 

Eliminate
Harmful Subsidies

Government subsidies for activities that harm the environment, such as burning fossil fuels, should be removed.

Delivering
a Revolution

The above measures will not be easily achieved. And they are each contingent on revolutionary economic and societal shifts.

Unsustainable consumption and production are key causes of climate change and biodiversity loss. Our report calls for a shift in individual and societal values away from materialism. We must also challenge the dominant worldview which equates continuous economic growth with human well-being.

Justice and equity must be at the centre of our new ways of being. Indigenous and local communities should lead the stewardship of forest, lands and seas. And system-wide change should not disproportionately impact the already disadvantaged.

And all this will require coordinated action at local, national and global scales. This must integrate multiple knowledge systems and worldviews.

A bright future for people and nature is possible. But achieving win-wins across climate, biodiversity and society requires urgent, transformative and just action which addresses not only the symptoms, but the causes of our greatest problems.

 

Suggested
Reading:



Finding Replacements for Petroleum Based Chemicals



Rare Earth Elements Demand is Still Growing





Is Biden Tightening the Reins on Large Companies?



Can Mining be Green and Sustainable?

 

Stay up to date. Follow us:

 

Capstone Green Energy To Provide Hydrogen Blend Microturbines For Industrial Application In Europe

 


Capstone Green Energy To Provide Hydrogen Blend Microturbines For Industrial Application In Europe

 

Austrian Power System will rely on Rooftop Solar to Generate Green Hydrogen

VAN NUYS, CA / ACCESSWIRE / July 19, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it will be providing two C65 microturbines to Austrian company Innovametall Stahl- und Metallbau for use in an ultra-low emissions Combined Heat & Power (CHP) system. The contract was secured by Wels Strom GmbH, Capstone’s distributor in Austria and Germany.

This will be the first hydrogen-fueled microturbine system in Europe. The system will initially run on 10% hydrogen blended with natural gas, with the amount of hydrogen expected to increase as Capstone approves higher blend levels in the future.

Capstone Green Energy is continuing to expand and develop its new Hydrogen Solutions business line. The Company recently released its first commercially available hydrogen-based CHP product, which can safely run on a 10% hydrogen – 90% natural gas mix, and the Company is targeting a commercial release of 30% hydrogen – 70% natural gas mix product by March 31, 2022, the end of Capstone’s current fiscal year.

The system to be provided to Innovametall Stahl- und Metallbau, which will provide efficient, on-site power to a powder coating production facility in Freistadt, will be designed in a hybrid configuration in which solar panels installed on the roof of the Innovametall industrial hall will provide renewable electricity. The excess electricity not required for production will be used to generate hydrogen, which will be used to fuel the microturbines. From there, the exhaust from the turbines will be captured and used in the facility’s powder coating furnace.

In addition to the microturbine system, which is expected to be commissioned in October 2021, Innovametall has purchased a 10-year Factory Protection Plan, which fixes maintenance costs and provides both planned and unplanned repairs, among other benefits for the duration of the contract.

“This is an important project, particularly as the Austrian government has instituted ambitious plans to integrate hydrogen into its climate and energy strategy,” said Leopold Berger, Head of Energy Systems at Wels Strom. “We aim to demonstrate, not just the successful application of renewable hydrogen as a fuel, but also the high efficiency and reliability benefits of this type of a CHP system.”

“As the world starts to take more aggressive steps to address climate change, innovative solutions like this renewable hydrogen-based system will become more commonplace,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “We are thrilled to offer a renewable hydrogen-based solution to meet the clean energy goals of today’s progressive businesses.”

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – International Consolidated Uranium Enters the U.S. Uranium Sector with Transformational Acquisition and Strategic Alliance with Energy Fuels

 

 


International Consolidated Uranium Enters the U.S. Uranium Sector with Transformational Acquisition and Strategic Alliance with Energy Fuels

 

– Acquires Portfolio of Projects in the U.S., including Three Past Producing Mines; Enters into Toll-Milling and Operating Agreements –

VANCOUVER, BC and LAKEWOOD, Colo.July 15, 2021 /CNW/ – International Consolidated Uranium Inc. (“CUR“) (TSXV: CUR) (OTCQB: CURUF) and Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (“Energy Fuels“) are pleased to announce that CUR has entered into a definitive asset purchase agreement (the “Purchase Agreement“) with certain wholly-owned subsidiaries of Energy Fuels (collectively, the “EF Parties“) whereby CUR will acquire a portfolio of conventional uranium projects located in Utah and Colorado (the “Projects“) from the EF Parties (collectively, the “Transaction“). In connection with the closing of the Transaction, the companies have also agreed to enter into toll-milling and operating agreements with respect to the Projects which positions CUR as a potential near-term US Uranium producer subject to an improvement in uranium market conditions and/or CUR entering into acceptable uranium supply agreements.

Transaction Highlights:

  • New Entrant into the U.S. Uranium Sector – The acquisition and alliance is expected to establish CUR as a new player in the U.S. uranium sector. The U.S. is currently the largest generator of nuclear power in the world and, by extension, the largest consumer of uranium. At the same time, domestic production of uranium is almost non-existent due to low prices and anti-competitive practices by foreign suppliers. In late 2020, the U.S. government approved the proposed establishment of a U.S. national strategic uranium reserve. Uranium mined by CUR, at one of the acquired Projects, and processed into natural uranium concentrates at Energy Fuels’ White Mesa Mill located near Blanding, Utah, is expected to qualify for the proposed reserve.
  • Unlocks the Value of Past Producing Mines, Permitted and Well-Positioned for Rapid Restart – The portfolio of Projects being acquired pursuant to the Transaction includes, among other assets, the following three permitted, past-producing mines in Utah, which are expected to be the immediate focus of CUR:
    • Tony M Mine – Located in the Henry Mountains area of southeastern Utah, the Project is a large-scale, fully-developed and permitted underground mine that operated most recently in 2008.
    • Daneros Mine – Located in the White Canyon District, the Project is a fully-developed and permitted underground mine that was most recently in production in 2013.
    • Rim Mine – Located in the East Canyon portion of the Uravan Mineral Belt, the Project is a fully-developed and permitted underground mine that was most recently in production in 2009.
  • Strategic Alliance with Energy Fuels, the Leading U.S. Uranium Producer – With the toll-milling agreement for production from the Projects to be executed on closing of the Transaction, CUR will become the only current U.S. uranium developer (other than Energy Fuels) with guaranteed access to Energy Fuels’ White Mesa Mill, which is the only permitted and operating conventional uranium mill in the U.S. Further, the operating agreements will allow the Projects to continue to be managed by the experienced team at Energy Fuels, ensuring a smooth transition.
  • Compelling Acquisition Terms and Structure – The consideration payable to Energy Fuels for the acquisition of the Projects and for securing the toll-milling and operating agreements includes US$2 million payable at closing, Cdn$6 million of deferred cash payable over time, Cdn$5 million of deferred cash payable on commencement of commercial production, and such number of CUR shares that results in Energy Fuels holding 19.9% of the outstanding CUR common shares immediately after closing. CUR will also pay Energy Fuels a management fee, along with a toll milling fee for ore produced at the Projects in the future.
  • Board of Directors Strengthened with Addition of Mark Chalmers. On closing, it is expected that Mark Chalmers, President and CEO of Energy Fuels, will join the CUR Board of Directors. Mr. Chalmers, a mining engineer by training, is a recognized leader in the uranium sector, both in the US and globally, and will bring decades of experience in uranium project development and mining to CUR.

Philip Williams, President and CEO of CUR commented, “We could not be more excited about today’s announcement. Our strategy has been to acquire uranium projects around the world, create critical mass, and target the acquisition of larger, more advanced projects. While the recently announced acquisition of the high-grade Matoush Project in Quebec was a big step forward for CUR, today’s acquisition and alliance with Energy Fuels represents a giant leap. In one transaction, we are entering the important U.S. uranium sector by acquiring past producing mines which are permitted and well positioned for a rapid restart when market conditions are right. And, with the toll-milling agreement for the Projects, we are now the only company other than Energy Fuels to have secured guaranteed access to the White Mesa Mill. This is a truly unique position for CUR. Add to that the operating agreements, which allow us to benefit from the decades of experience that the Energy Fuels team has with these projects, and the addition of Mark Chalmers to the board, and the benefits to CUR and its shareholders are substantial.”

Mark Chalmers commented, “This transaction has all the hallmarks of a true win-win for both parties. Energy Fuels currently holds the largest and highest quality portfolio of uranium production, development, and exploration projects in the U.S. The assets we are selling to CUR are proven U.S. uranium mines, and in fact production from these mines since 2006 has accounted for over 1,050,000 lbs of US uranium production, which would rank those mines as fifth among all current uranium producers in the US over those years. However, because Energy Fuels is focusing its attention on its core projects – the Nichols Ranch and Alta Mesa ISR properties and the Pinyon Plain, La Sal and other conventional properties, we do not believe markets have properly valued the Projects within our expansive portfolio of exceptional assets. We believe that, in order to realize the full value of our expansive portfolio, certain assets, such as the Projects, can be repositioned to the benefit of Energy Fuels and its shareholders, provided we find the right vehicle to unlock the value of these assets. In this transaction, we believe we have found that vehicle in CUR. Having known and worked with the team behind CUR for almost 15 years, I have watched keenly as they have gained market support for their consolidation strategy. This is why we have structured the transaction to provide Energy Fuels with significant exposure to the future share price performance of CUR through a 19.9% equity interest and speaks to our belief in and our commitment to these assets. My joining the CUR board, as well as Energy Fuels’ entering into the toll-milling and operating agreements for the Projects, should also be strong signals as to how important we view our alliance with CUR for these assets.”

Terms of the Asset Purchase Agreement

Pursuant to the Purchase Agreement, CUR will acquire from the EF Parties 100% of the Tony M, Daneros and Rim mines in Utah, as well as the Sage Plain property and eight DOE Leases in Colorado, for the following consideration:

  • the payment of US$2.0 million in cash, payable on closing of the Transaction;
  • the issuance of that number of CUR shares that results in Energy Fuels holding 19.9% of the outstanding CUR common shares immediately after closing of the Transaction;
  • the payment of Cdn$3.0 million in cash on or before the 18-month anniversary of closing of the Transaction;
  • the payment of an additional Cdn$3.0 million in cash on or before the 36-month anniversary of closing of the Transaction; and
  • the payment of up to Cdn$5.0 million in contingent cash payments tied to achieving commercial production at the Tony M Mine, the Daneros Mine and the Rim Mine.

The Purchase Agreement includes provision for the return of the Projects to Energy Fuels in the event that CUR does not make the deferred cash payments as described above.

Closing of the Transaction is subject to satisfaction of certain closing conditions including, among other things, CUR receiving approval of the TSX Venture Exchange. All securities issued in connection with the Agreement are subject to a hold period expiring four months and one day from the date of issuance.

The Strategic Alliance

The strategic alliance between CUR and Energy Fuels for the Projects involves three key components:

  1. The Toll-Milling Agreement – Under this agreement, the EF Parties will toll-mill ore mined from the Projects at the White Mesa Mill, subject to payment by CUR of a toll-milling fee and certain other terms and conditions.
  2. The Operating Agreements – Under these agreements, the EF Parties will provide ongoing services for a fee to maintain the Projects in good standing, as well as additional services as agreed to by the parties.
  3. The Investor Rights Agreement – Under this agreement, for so long as Energy Fuels’ equity ownership in CUR remains at or above 10%, it will be entitled to equity participation rights to maintain its pro rata equity ownership in CUR and to appoint one nominee to the CUR Board of Directors. Energy Fuels has also agreed to certain resale restrictions on the shares of CUR it will hold and to provide voting support in certain circumstances.

Strengthening the Board of Directors

In accordance with the terms of the investor rights agreement to be entered into on closing of the Transaction, for so long as Energy Fuels maintains its equity ownership in the common shares of CUR at or above 10%, Energy Fuels is entitled to nominate one member to the CUR Board of Directors. On closing of the Transaction, it is expected that Energy Fuels will nominate Mark Chalmers, its current President and CEO, to the CUR Board of Directors. Mr. Chalmers has spent nearly his entire career in the uranium industry, taking the role of President and Chief Executive Officer of Energy Fuels on February 1, 2018. He returned to Energy on July 1, 2016 after 15 years working in the uranium sector in the Southern Hemisphere. From 2011 to 2015, Mr. Chalmers served as Executive General Manager of Production for Paladin Energy Ltd., a uranium producer with assets in Australia and Africa, including the Langer Heinrich and Kayelekera mines where, as head of operations, he oversaw sustained, significant increases in production while reducing operating costs. He also possesses extensive experience in ISR uranium production, including management of the Beverley Uranium Mine owned by General Atomics (Australia), and the Highland Mine owned by Cameco Corporation (USA). Mr. Chalmers has also consulted to several of the largest players in the uranium supply sector, including BHP Billiton, Rio Tinto, and Marubeni and, until recently, served as the Chair of the Australian Uranium Council, a position he held for 10 years. Mr. Chalmers is a registered professional engineer and holds a Bachelor of Science in Mining Engineering from the University of Arizona.

The Tony M Mine

The Tony M Mine is located in eastern Garfield County, Utah approximately five miles north of Ticaboo, Utah and approximately 127 road miles west of the White Mesa Mill. The deposit currently forms part of the Henry Mountains Complex.

Uranium mineralization on the property is hosted by favorable sandstone of the Salt Wash Member of the Morrison Formation, a principal uranium host in the US. Mineralization primarily consists of coffinite with minor uraninite, which usually occurs in close association with vanadium mineralization.

The Tony M Mine was originally developed by Plateau Resources Ltd. (“Plateau“) in the late 1970s to provide a nuclear fuel supply to its parent company Consumers Power Company (Consumers) of Michigan. In 1984, operations were suspended.

In February 2007, Denison Mines Corp. (“Denison“) acquired the Tony M property and, following rehabilitation work and re-establishment of surface facilities in 2006, received the necessary operational permits for the reopening of the Tony M underground workings, after which it commenced mining activities in September 2007. Denison operated the mine from September 2007 to November 2008. The following table sets forth the historic production from the Tony M Mine by Plateau and Denison:

Tony M Historic Production

Company

Tons (000s)

%U3O8

Lbs U3O8 (000s)

Plateau (1979-1984)

237

0.12

569

Denison (2007-2008)

162

0.13

422

Totals

399

0.12

991

In 2008, the Tony M Mine was placed on care and maintenance, and in June 2012, Energy Fuels acquired all of Denison’s uranium properties in the United States, including the Henry Mountains Complex. Since acquiring the Henry Mountain Complex, Energy Fuels has not carried out any further exploration work nor conducted any further mine development at the Tony M Mine. The Tony M Mine is currently being maintained in a ready state with all required permits in place to resume operations as market conditions warrant.

In June 2012, Roscoe Postle Associates Inc. prepared a technical report entitled “Technical Report on the Henry Mountains Complex Uranium Property, Utah U.S.A.” for Energy Fuels, which detailed the mineral resource estimate set out in the table below for the Tony M Mine. This mineral resource estimate is considered to be a “historical estimate” for CUR as defined under NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“). A Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource, and CUR is not treating the historical estimate as a current Mineral Resource. See below under “Technical Disclosure and Qualified Person”.

Tony M Mine Historical Mineral Resource Estimate

Category

Tons (000s)

%U3O8

Lbs U3O8 (000s)

Indicated

1,690

0.24

8,130

Inferred

860

0.16

2,750

Notes:


1.

Mineral Resources were classified in accordance with CIM Definition Standards.

2.

Cut-off grade is 0.10% eU3O8 over a minimum thickness of 2 ft. for the Tony M-Southwest deposit.

3.

Mineral Resources have not been demonstrated to be economically viable.

4.

All mine production by Plateau and Denison has been deducted.

Following closing of the Transaction, CUR intends to undertake a program to verify the historical estimate as a current mineral resource estimate and complete a preliminary economic assessment to quantify the cost, development activity and time required to bring the mine back into production.

The Daneros Mine

The Daneros Mine is located on the Colorado Plateau in San Juan County, Utah approximately 70 miles west of the White Mesa Mill. The property is in the Red Canyon portion of the White Canyon Mining District.

Major uranium deposits in the White Canyon District occur at or near the base of the Upper Triassic Chinle Formation, in fluvial channel deposits of the Shinarump Member, the basal member of the Chinle Formation. Uranium mineralization appears to be related to low-energy depositional environments in that uranium is localized in fluvial sandstones that lie beneath organic-rich lacustrine-marsh mudstone and carbonaceous delta-front sediments.

The Daneros Mine operated from 2009 until October 2012 when the mine was placed on standby. Initially, White Canyon Uranium Limited (“White Canyon“) brought the mine into production by sending millfeed to the White Mesa Mill under a toll-milling agreement with Denison. Daneros was White Canyon’s principal asset. Denison acquired White Canyon in June 2011 for AU$57 Million in cash and continued to operate the mine until its U.S. operations were acquired by Energy Fuels in June 2012. The following table sets forth the historic production from the Daneros Mine:

Daneros Historic Production

Project

Tons (000s)

%U3O8

Lbs U3O8 (000s)

Daneros (2010-2013)

120

0.26

628

Other Mines1

73

0.22

314

Notes:


1)

Other Mines include the Cove (Lark), Bullseye and Spook former mines.  These former mines are located on claims obtained as part of the Transaction.

In March 2018, Peters Geosciences produced a technical report entitled “Updated Report On The Daneros Mine Project, San Juan County, Utah, U.S.A.” for Energy Fuels, which detailed the mineral resource estimate set out in the table below for the Daneros Mine. This mineral resource estimate is considered to be a “historical estimate” for CUR as defined under NI 43-101. A Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource, and CUR is not treating the historical estimate as a current Mineral Resource. See below under “Technical Disclosure and Qualified Person”.

Daneros Mine Historical Mineral Resource Estimate

Project

Tons (000s)

%U3O8

Lbs U3O8 (000s)

Indicated

20

0.36

142

Inferred

7

0.37

52

Notes:


1)

Mineral Resources were classified in accordance with CIM Definition Standards.

2)

Mineral Resources are estimated at a cut-off grade of 0.23% eU3O8.

3)

Mineral Resources are estimated using a long-term uranium price of $55 per pound U3O8.

4)

A minimum thickness of 1 foot was used.

5)

Bulk density is 0.07143 ton/ft3 (14 ft3/ton).

6)

Mineral Resources are exclusive of Mineral Reserves and do not have demonstrated economic viability.

7)

Numbers may not add due to rounding.

The Daneros Mine remains fully permitted and well-positioned for restarting operations on an expeditious basis as market conditions warrant. Following closing of the Acquisition, CUR intends to perform surface drilling to verify the historical estimate as a current mineral resource estimate and connectivity of resources. Following mine restart, CUR expects to perform underground long hole drilling to determine the likely location of any mineral resources and where to drive mine headings to best access these resources.

Rim Mine

The Rim Mine is a permitted, formerly producing mine located 15 miles northeast of Monticello, Utah in San Juan County, approximately 62 road miles from the White Mesa Mill. The property consists of 26 unpatented lode mining claims, a private lease, and a Utah State Mineral Lease totaling about 1,100 acres. The mine has operated historically on a periodic basis starting in the mid-1960s. Mining last occurred in early 2008 by Denison and ceased in late 2010. Energy Fuels acquired the property in 2012 and has maintained it on care and maintenance since that time, such that it can be restarted with relatively little permitting or development costs as market conditions warrant.

A previous internal resource estimate by Energy Fuels (this estimate was not completed in accordance with the disclosure standards of NI 43-101), indicated that the project has high vanadium grades at 1.83% V2O5 and a ~9.15:1 uranium-to-vanadium ratio, and the table below sets out the previous resource estimate (using categories other than those set out in section 1.2 and 1.3 of NI 43-101). This estimate is considered to be a “historical estimate” for CUR as defined under NI 43-101. A Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource, and CUR is not treating the historical estimate as a current Mineral Resource. See below under “Technical Disclosure and Qualified Person”.

Rim Mine Historical Mineral Resource Estimate


Tons 
(000s)

%U3O8

Lbs U3O8 (000s)

%V2O5

Lbs V2O5 (000s)

Inferred

82

0.20

327

1.83

3,028

Notes:


1)

The historical estimates for RIM do not comply with CIM Definition Standards on Mineral Resources and Mineral Reserves as required by NI 43-101 and have no comparable resource classification.

2)

Mineral Resources are estimated at a cut-off grade of 0.10% U3O8.

3)

A minimum thickness of 3 feet was used.

Sage Plain  

The Sage Plain Property is located about 16 miles northeast of Monticello, Utah and approximately 54 road miles from the White Mesa Mill. The Sage Plain District (also referred to as the Egnar District or Summit Point District) is a portion of the greater Slick Rock District. It is the southwest continuation into Utah of the prolific Uravan Mineral Belt.

Uranium-vanadium deposits were first discovered in the Morrison Formation 32 miles north of the Sage Plain Project in the 1880s. Uranium and vanadium mineralization at the Sage Plain project is hosted in sandstones of the Salt Wash Member of the Morrison Formation, which is also the host unit for the uranium deposits at the Rim Mine, Tony M project and the DOE leases in western Colorado. The Morrison sediments accumulated as oxidized detritus in the fluvial environment. However, there were isolated environments where reduced conditions existed, such as oxbow lakes and carbon-rich point bars where the uranium precipitated. While Sage Plain is part of the Uravan Mineral Belt, it has a significantly higher ratio of V2O5:U3O8 in the rock than the deposits farther north. Vanadium may have been leached from the detrital iron-titanium mineral grains and subsequently deposited along with or prior to the uranium.

The project area is at the location of the historic Calliham Mine. The current Sage Plain landholdings consist of two fee mineral leases covering about 960 acres (Calliham and Crain) and a Utah State lease of 640 acres.

The Calliham Mine was in production from the 1970s to the early 1980s by Atlas Minerals. The Calliham Mine property was explored in the early 1970s by Hecla Mining Company. The Calliham lease was acquired by Atlas Minerals and went into production in March 1976. Atlas Minerals departed the uranium business in the region in the mid-1980s. The Calliham Mine and associated leases were acquired by Umetco Minerals (“Umetco“) in 1988 and operated briefly in 1990-1991 during a spike in vanadium prices. During Umetco’s tenure, the Calliham Mine produced 13,300 tons of ore averaging 0.21% U3O8 (~56,000 lbs. U3O8) and 1.29% V2O5 (~343,000 lbs. V2O5). This ore was milled at the White Mesa Mill near Blanding, Utah. All infrastructure from the historic mine has been removed and all permits have lapsed. The following table sets forth the historic production from the Calliham Mine:

Calliham Mine Historic Production

Operator

Tons (000s)

%U3O8

Lbs U3O8 (000s)

%V2O5

Lbs V2O5 (000s)

Atlas

209

0.15

605

0.90

3,773

Umetco

13

0.21

56

1.29

343

Total

221

0.15

661

0.93

4,116

In a technical report entitled “UPDATED TECHNICAL REPORT ON SAGE PLAIN PROJECT (Including the Calliham Mine)” dated March 18, 2015, the mineral resource estimate set out in the table below was published. This mineral resource estimate is considered to be a “historical estimate” for CUR as defined under NI 43-101. A Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource, and CUR is not treating the historical estimate as a current Mineral Resource. See below under “Technical Disclosure and Qualified Person”.

Calliham/Crain Historical Mineral Resource Estimate


Tons (000s)

%U3O8

Lbs U3O8 (000s)

%V2O5

Lbs V2O5 (000s)

Measured

240

0.16

772

1.32

6,349

Indicated

13

0.10

26

0.77

199

Inferred

10

0.13

25

0.94

188

Notes:


1)

Grades and tonnages shown as diluted amounts.

2)

Vanadium grades are based on assays where known, otherwise estimated at the average V2O5:U3O8 ratios for the individual properties used by previous operators based on core assay data and past production.

3)

Mineral Resources were classified in accordance with CIM Definition Standards.

The DOE Leases

The DOE leases are located in the historically productive Uravan Mineral Belt portion of MesaMontrose, and San Miguel Counties, Colorado. The tracts are designated C-SR-12, C-SR-16A, C-AM-19, C-AM-19A, C-AM-20, C-CM-24, C-G-26, and C-G-27. The leases are located 80-175 road miles from the White Mesa Mill. New 10-year leases for these lease tracts were executed by Energy Fuels on January 6, 2020.

Technical Disclosure and Qualified Person

The scientific and technical information contained in this news release was reviewed and approved by Dean T. Wilton, CPG-7659, who is a “Qualified Person” (as defined in NI 43-101). 

Each of the above estimates are considered to be “historical estimates” as defined under NI 43-101 for CUR, and have been sourced as follows:

  1. Tony M Mine: reported by Energy Fuels in a Technical Report entitled “Technical Report on the Henry Mountains Complex Uranium Property, Utah U.S.A.” prepared by William E. RoscoeDouglas H. Underhill, and Thomas C. Pool of Roscoe Postle Associates, Inc., dated June 27, 2012;
  2. Daneros Mine: reported by Energy Fuels in a Technical Report entitled “Updated Report on the Daneros Mine Project, San Juan County, Utah, U.S.A.”, prepared by Douglas C. Peters, C. P. G., of Peters Geosciences, dated March 2, 2018;
  3. Rim Mine: reported by Energy Fuels in an internal company report entitled “Rim Resource Evaluation” prepared by Energy Fuels dated June 14, 2018; and
  4. Sage Plain Project: reported by Energy Fuels in a Technical Report entitled “Updated Technical Report on Sage Plain Project (Including the Calliham Mine)”, prepared by Douglas C. Peters, CPG of Peters Geosciences, dated March 18, 2015.

In each instance, other than with respect to Rim, the historical estimate is reported using the categories of Mineral Resources and Mineral Reserves as defined by the Canadian Institute CIM Definition Standards for mineral reserves, and mineral reserves that are incorporated by reference into National Instrument 43-101, and these “historical estimates” are not considered by CUR to be current. The historical estimates for Rim do not comply with CIM Definition Standards on Mineral Resources and Mineral Reserves as required by NI 43-101 and have no comparable resource classification. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource and CUR is not treating the historical estimate as a current Mineral Resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.

For the Tony M Mine, as disclosed in the above noted technical report, the historical mineral resources were estimated by Denison using the contour method and were audited by Scott Wilson RPA in the 2009 Technical Report (Underhill and Roscoe, 2009). CUR would need to review and verify the scientific information and conduct an analysis and reconciliation of production data in order to verify the Tony M historical estimate as a current Mineral Resource.

For the Daneros Mine, as disclosed in the above noted technical report, the historical estimate was prepared by Energy Fuels using a wireframe model of the mineralized zone based on an outside bound of a 0.05% eU3O8 grade cutoff at a minimum thickness of 1 foot. CUR would need to conduct surface drilling to confirm resources and connectivity of resources in order to verify the Daneros historical estimate as a current Mineral Resource.

For the Rim Mine, as disclosed in the above noted internal report, the historical estimate was prepared internally by Energy Fuels using the inverse distance squared interpolation method and checked by the nearest neighbor (polygonal) method. CUR would need to conduct an exploration program, including twinning of historical drill holes in order to verify the RIM historical estimate as a current Mineral Resource.

For the Sage Plain Project, as disclosed in the above noted technical report, the historical estimate was prepared by Peters Geosciences using modified polygonal method. CUR would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Sage Plain historical estimate as a current Mineral Resource.

About Energy Fuels Inc.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial production of rare earth carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and Energy Fuels’ common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

About International Consolidated Uranium

International Consolidated Uranium Inc. (TSXV: CUR) is well financed to execute its strategy of consolidating and advancing uranium projects around the globe. The Company has acquired a 100% interest or has entered into option agreements to acquire a 100% interest in seven uranium projects, in AustraliaCanada, and Argentina, each with significant past expenditures and attractive characteristics for development. CUR has entered into option agreements with Mega Uranium Ltd. (TSX: MGA) to acquire a 100% interest in the Ben Lomond and Georgetown uranium projects in Australia; with IsoEnergy Ltd. (TSXV: ISO) to acquire a 100% interest in the Mountain Lake uranium project in Nunavut, Canada; with a private individual to acquire a 100% interest in the Moran Lake uranium and vanadium project in Labrador, Canada; and with U3O8 Corp. (TSXV: UWE.H) to acquire a 100% interest in the Laguna Salada uranium and vanadium project in Argentina. CUR has also acquired a 100% interest in the Dieter Lake uranium project and entered into an agreement to acquire a 100% interest in the Matoush uranium project, both in Quebec, Canada. The option agreement with IsoEnergy for Mountain Lake and the option agreement with U3O8 Corp. for Laguna Salada both remain subject to regulatory approval.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information.

This news release contains “forward-looking information” within the meaning of applicable Canadian and U.S. securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that CUR and Energy Fuels expect or anticipate will or may occur in the future including: any expectation that the Transaction will be completed; any expectation as to the accuracy of mineral resource estimates; any expectation with respect to any permitting, development or other work that may be required to bring any of the Projects into production; any expectation that any of the Projects can be brought back into production rapidly or expeditiously; any expectations as to future exploration potential for any of the Projects; any expectation as to the outcome or success of any proposed programs for any of the Projects; any expectation that the proposed strategic alliance will be successful or that the transition of ownership of the Projects will be smooth; any expectation that the Transaction will be a win-win transaction for both CUR and Energy Fuels; any expectation that the Transaction will result in the market properly valuing the Projects; any expectation as to the future performance of CUR’s shares and the value of Energy Fuel’s share position in CUR; any expectation that Energy Fuels will maintain its share position in CUR in the longer term; any expectation that market conditions will warrant future production from any of the Projects; any expectation that any future production payments will become due and payable and be paid; any expectation that the TSXV will approve the Transaction; any expectation that the proposed uranium reserve will be established and the terms and conditions of the proposed uranium reserve; and any expectation that any uranium produced from the Projects will be eligible for the proposed uranium reserve. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: the failure to close the Transaction; potential conflicts of interest between CUR and Energy Fuels; the costs associated with bringing any of the Projects back into production; permitting and regulatory delays; litigation risks; competition from others; market factors, including future demand for and prices realized from the sale of uranium and vanadium; the proposed uranium reserve never being established or the uranium reserve if established not benefitting the Projects; government actions that could restrict or eliminate the ability to mine on public lands, such as through the creation or expansion of national monuments or through mineral withdrawals; and the policies and actions of foreign governments, which could impact the competitive supply of and global markets for uranium and vanadium. Forward-looking statements contained herein are made as of the date of this news release, and CUR and Energy Fuels disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. CUR and Energy Fuels assume no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: International Consolidated Uranium Inc.: Philip Williams, President and CEO, +1 778 383 3057, pwilliams@consolidateduranium.com; Energy Fuels: Curtis Moore, VP of Marketing & Corporate Development, (303) 974-2154, cmoore@energyfuels.com

Release – CanAlaska Appoints New Vice President Exploration


CanAlaska Appoints New Vice President Exploration

 

Nathan Bridge appointed VP to work with Dr. Karl Schimann

Saskatchewan Technical Team Expands with senior geologists Carey Galeschuk and Greg Gudmundson

Appointments Support Renewed Investment Interest in Carbon-Free Energy Metals

Vancouver, British Columbia–(Newsfile Corp. – July 15, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSEDH7N) (“CanAlaska” or the “Company”) is pleased to announce the appointment of Mr. Nathan Bridge to Vice President of Exploration of the Company effective July 12, 2021. Dr. Karl Schimann will continue as Senior Exploration Consultant to CanAlaska, working closely with Nathan in transition to execute on the Company’s exploration plans. The Company’s activities are accelerating rapidly in a renewed investment environment for carbon-free energy metals, the core of CanAlaska’s portfolio.

Mr. Nathan Bridge has over a decade of experience managing exploration, delineation, and geotechnical drilling programs at Cameco Corporation. He was senior Geologist on Cameco’s Fox Lake discovery team that took the deposit from exploration stage, through discovery, and into resource definition. Nathan has spent the majority of his career exploring for uranium and in 2017 he led the exploration program that discovered the 42 Zone on the Company’s West McArthur project. Apart from his extensive experience on uranium mineralization zones along the “C10” corridor, Nathan has managed and worked on delineation and geotechnical programs on Cameco’s Cigar Lake, Eagle Point and Millennium deposits. Nathan brings his very strong technical background to the CanAlaska team, focussing on exploration that is guided by geoscientific rigour and an understanding of the key criteria for the formation and preservation of high-quality ore deposits. Mr. Bridge is a licensed Professional Geoscientist and holds both B.Sc. and M.Sc. degrees in Geology, from the University of Western Ontario.

Nathan Bridge, Vice President Exploration, comments: “I am very excited to be joining the CanAlaska team. Having spent over eight years of my career working on the C10 corridor I’ve developed a deep understanding of the geology that hosts the Company’s 42 Zone discovery. I have seen the magnitude and intensity of the alteration, structure, and mineralization along the C10 and have first-hand knowledge of its ability to host tier one uranium deposits. I look forward to advancing the Company’s extensive portfolio of projects that cover the highly prospective Wollaston-Mudjatik Transition Zone in the eastern Athabasca Basin. On top of the uranium projects, I’m thrilled about the nickel portfolio that the Company has assembled and I am excited to work with the team to make discoveries of this increasingly important battery metal in a globally established mineral belt. We have assembled a top-notch team with a deep understanding of uranium and nickel deposits that will allow us to be successful in moving CanAlaska toward new discoveries.”

The Company is also pleased to announce the additions of Mr. Carey Galeschuk as Senior Exploration Geologist and Mr. Greg Gudmundson as Project Geologist. Mr. Galeschuk is a Professional Geoscientist registered in four provinces in Canada and has over 30 years of mineral exploration experience in a vast array of geological settings and commodities, including nickel, copper, zinc, PGE, cobalt, lithium, tantalum, rare earths, gold and industrial minerals. Carey has been a geological consultant since 2016 following numerous geology roles in junior and senior exploration companies, including management of exploration for the Tantalum Mining Corporation (Tanco Mine) and VP Exploration for Mustang Minerals. Mr. Galeschuk has a B.Sc. in Geology from the University of Saskatchewan.

Mr. Gudmundson has nearly 30 years of geological and management experience spanning environmental, wellsite, gold and uranium exploration. Most recently, Greg was with Orano Canada as a project geologist for over 15 years where he was responsible for project design, execution and management of greenfield to brownfield uranium exploration programs in the Athabasca Basin of northern Saskatchewan. Mr. Gudmundson is a registered Professional Geoscientist with a B.Sc. in Geology from the University of Saskatchewan.

As part of CanAlaska’s transition, Dr. Karl Schimann has assumed the role of Senior Exploration Consultant with the Company after 17 years as Vice President Exploration. Dr. Schimann has been integral to the growth of CanAlaska’s exploration portfolio since 2004 helping guide the Company with innovative exploration techniques targeting discovery of a tier one uranium deposit. CanAlaska’s current portfolio of projects are world-class and have the Company poised for ongoing discoveries in uranium, nickel and copper. Recent exploration successes at West McArthur and Waterbury South highlight the importance of the early exploration direction set by Dr. Schimann to assemble this strategic land-holding. In his new role, Karl will continue to be an integral part of the CanAlaska team moving forward and will remain on the Company’s Board of Directors.

The Company also announces that it has granted incentive stock options to an officer of the Company to purchase up to 200,000 common shares of the Company pursuant to the Company’s share option plan. The options are exercisable for a period of three years at a price of $0.54 per share.

Cory Belyk, Chief Executive Officer, comments: “The additions of Nathan, Carey and Greg bring an incredible wealth of experience to the CanAlaska team in our core portfolio commodities of uranium and nickel. This is an exciting time for CanAlaska as we get ready to roll into this developing commodity cycle for carbon-free energy metals as the dream of an electrified world becomes a reality. The ability to attract such talented and experienced individuals to the team is a testament to our impressive portfolio of projects in the Athabasca Basin and Thompson Nickel Belt. Peter, Karl and myself look forward to working with the new team members as they grow and flourish, and ultimately bring new discoveries to our shareholders.”

Other News

The Company has recently opened a new office in Saskatoon, Saskatchewan to support the growing exploration team.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 214,000 hectares (530,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Dr. Karl Schimann, P. Geo, CanAlaska director and Senior Exploration Consultant.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:
Cory Belyk,
Executive Vice President & CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler,
President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.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.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

CanAlaska Appoints New Vice President Exploration


CanAlaska Appoints New Vice President Exploration

 

Nathan Bridge appointed VP to work with Dr. Karl Schimann

Saskatchewan Technical Team Expands with senior geologists Carey Galeschuk and Greg Gudmundson

Appointments Support Renewed Investment Interest in Carbon-Free Energy Metals

Vancouver, British Columbia–(Newsfile Corp. – July 15, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSEDH7N) (“CanAlaska” or the “Company”) is pleased to announce the appointment of Mr. Nathan Bridge to Vice President of Exploration of the Company effective July 12, 2021. Dr. Karl Schimann will continue as Senior Exploration Consultant to CanAlaska, working closely with Nathan in transition to execute on the Company’s exploration plans. The Company’s activities are accelerating rapidly in a renewed investment environment for carbon-free energy metals, the core of CanAlaska’s portfolio.

Mr. Nathan Bridge has over a decade of experience managing exploration, delineation, and geotechnical drilling programs at Cameco Corporation. He was senior Geologist on Cameco’s Fox Lake discovery team that took the deposit from exploration stage, through discovery, and into resource definition. Nathan has spent the majority of his career exploring for uranium and in 2017 he led the exploration program that discovered the 42 Zone on the Company’s West McArthur project. Apart from his extensive experience on uranium mineralization zones along the “C10” corridor, Nathan has managed and worked on delineation and geotechnical programs on Cameco’s Cigar Lake, Eagle Point and Millennium deposits. Nathan brings his very strong technical background to the CanAlaska team, focussing on exploration that is guided by geoscientific rigour and an understanding of the key criteria for the formation and preservation of high-quality ore deposits. Mr. Bridge is a licensed Professional Geoscientist and holds both B.Sc. and M.Sc. degrees in Geology, from the University of Western Ontario.

Nathan Bridge, Vice President Exploration, comments: “I am very excited to be joining the CanAlaska team. Having spent over eight years of my career working on the C10 corridor I’ve developed a deep understanding of the geology that hosts the Company’s 42 Zone discovery. I have seen the magnitude and intensity of the alteration, structure, and mineralization along the C10 and have first-hand knowledge of its ability to host tier one uranium deposits. I look forward to advancing the Company’s extensive portfolio of projects that cover the highly prospective Wollaston-Mudjatik Transition Zone in the eastern Athabasca Basin. On top of the uranium projects, I’m thrilled about the nickel portfolio that the Company has assembled and I am excited to work with the team to make discoveries of this increasingly important battery metal in a globally established mineral belt. We have assembled a top-notch team with a deep understanding of uranium and nickel deposits that will allow us to be successful in moving CanAlaska toward new discoveries.”

The Company is also pleased to announce the additions of Mr. Carey Galeschuk as Senior Exploration Geologist and Mr. Greg Gudmundson as Project Geologist. Mr. Galeschuk is a Professional Geoscientist registered in four provinces in Canada and has over 30 years of mineral exploration experience in a vast array of geological settings and commodities, including nickel, copper, zinc, PGE, cobalt, lithium, tantalum, rare earths, gold and industrial minerals. Carey has been a geological consultant since 2016 following numerous geology roles in junior and senior exploration companies, including management of exploration for the Tantalum Mining Corporation (Tanco Mine) and VP Exploration for Mustang Minerals. Mr. Galeschuk has a B.Sc. in Geology from the University of Saskatchewan.

Mr. Gudmundson has nearly 30 years of geological and management experience spanning environmental, wellsite, gold and uranium exploration. Most recently, Greg was with Orano Canada as a project geologist for over 15 years where he was responsible for project design, execution and management of greenfield to brownfield uranium exploration programs in the Athabasca Basin of northern Saskatchewan. Mr. Gudmundson is a registered Professional Geoscientist with a B.Sc. in Geology from the University of Saskatchewan.

As part of CanAlaska’s transition, Dr. Karl Schimann has assumed the role of Senior Exploration Consultant with the Company after 17 years as Vice President Exploration. Dr. Schimann has been integral to the growth of CanAlaska’s exploration portfolio since 2004 helping guide the Company with innovative exploration techniques targeting discovery of a tier one uranium deposit. CanAlaska’s current portfolio of projects are world-class and have the Company poised for ongoing discoveries in uranium, nickel and copper. Recent exploration successes at West McArthur and Waterbury South highlight the importance of the early exploration direction set by Dr. Schimann to assemble this strategic land-holding. In his new role, Karl will continue to be an integral part of the CanAlaska team moving forward and will remain on the Company’s Board of Directors.

The Company also announces that it has granted incentive stock options to an officer of the Company to purchase up to 200,000 common shares of the Company pursuant to the Company’s share option plan. The options are exercisable for a period of three years at a price of $0.54 per share.

Cory Belyk, Chief Executive Officer, comments: “The additions of Nathan, Carey and Greg bring an incredible wealth of experience to the CanAlaska team in our core portfolio commodities of uranium and nickel. This is an exciting time for CanAlaska as we get ready to roll into this developing commodity cycle for carbon-free energy metals as the dream of an electrified world becomes a reality. The ability to attract such talented and experienced individuals to the team is a testament to our impressive portfolio of projects in the Athabasca Basin and Thompson Nickel Belt. Peter, Karl and myself look forward to working with the new team members as they grow and flourish, and ultimately bring new discoveries to our shareholders.”

Other News

The Company has recently opened a new office in Saskatoon, Saskatchewan to support the growing exploration team.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 214,000 hectares (530,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Dr. Karl Schimann, P. Geo, CanAlaska director and Senior Exploration Consultant.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:
Cory Belyk,
Executive Vice President & CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler,
President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.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.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.