⁠Eagle Nuclear Energy (NASDAQ:NUCL)

NEWS

Podcast – Energy News Beat: Building America’s Nuclear Future From Uranium to SMRs

“Did you know that a singular ChatGPT search is equivalent to leaving your light bulb on for 20 minutes?”

I learned a lot from Mark Mukhija, Eagle Nuclear Energy Corp, NUCL, and this was an absolute blast to find out how much uranium we need just to update our nuclear fleet, and how much we still buy from other countries.

Click to visit Podcast

Link: https://podcasts.apple.com/ca/podcast/building-americas-nuclear-future-from-uranium-to-smrs/id1564334366?i=1000758529646

Steve Yang (NaturalResourceStocks.net) sits down with Mark Mukhija, CEO of Eagle Nuclear Energy Corp, to break down why Eagle Nuclear believes it has one of the most important domestic uranium stories in the market right now.

Click to Watch Video

Link: https://www.youtube.com/watch?v=Djunfk1oaZQ

SLR International Corporation to oversee project permitting as Eagle advances one of the largest undeveloped uranium deposits in the United States toward the next stage of development

RENO, Nev., March 18, 2026– Eagle Nuclear Energy Corp. (“Eagle” or the “Company”) (NASDAQ: NUCL), a next-generation nuclear energy company which owns the largest conventional, measured and indicated uranium deposit in the United States, today announced it has engaged global mining advisory firm, SLR International Corporation (“SLR Consulting”) as the lead permitting manager for the Aurora Uranium Project (“Aurora”), the Company’s flagship uranium asset located along the Oregon–Nevada border.

SLR Consulting is world-renowned for providing technical, engineering, and environmental services to resource projects worldwide. The firm supports companies across all stages of project development, including geology, resource estimation, engineering studies, permitting, and environmental management.

SLR’s designated team for Eagle has relevant experience and an excellent track-record with the Bureau of Land Management (BLM) and Oregon Department of Geology and Mineral Industries (DOGAMI) for obtaining exploration and mining permits. Specifically, this team has demonstrated continued permitting success at Paramount Gold’s Grassy Mountain project and Jindalee Lithium’s McDermitt project, both of which are located in Malheur County, Oregon – the same county as Eagle’s Aurora project. SLR played an instrumental role in getting Jindalee’s McDermitt project’s permitting process fast-tracked under the US federal government’s FAST-41 initiative. Eagle’s management is collaborating with SLR to help get Aurora on the FAST-41 list as well, as we work towards achieving the requisite operational milestones over the next 12-18 months.

Following this engagement, SLR will serve as Aurora’s program manager for all tasks related to environmental permitting as an integrated part of Eagle’s team. This includes conducting, and managing subcontractors to conduct, environmental baseline studies and providing exploration permitting support, including for geological activities, drill programs, metallurgical studies, hydrogeological studies and other environmental studies. SLR’s work at Aurora will help Eagle progress the Project toward a future Pre-Feasibility Study estimated to be completed in late-2027.

Eagle’s VP of Operations, Vishal Gupta, stated, “SLR’s permitting expertise, their proven track-record around the world, and their relevant experience in our neighbourhood, makes them a natural partner for Eagle as we plan to take Aurora toward the next stage of development. The SLR team has been involved in extensive engagement with regulators at the county, state and federal levels, which has direct relevance to expediting the permitting process for Aurora.”

Aurora anchors Eagle’s long-term strategy to develop a vertically integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology. As global demand for nuclear power accelerates and the U.S. looks to strengthen domestic fuel supply chains, the company believes Aurora is positioned to become a strategic source of uranium for the next generation of nuclear energy.

About Eagle Nuclear Energy Corp.

Eagle Nuclear Energy Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

For more information about Eagle Nuclear Energy Corp., visit www.eaglenuclear.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Eagle’s, or its management team’s expectations concerning the Business Combination and expected benefits thereof; the outlook for Eagle’s business; the ability to execute Eagle’s strategies and reach permitting and operational milestones timely or at all; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle. The forward-looking statements are based on the current expectations of the management teams of Eagle, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Business Combination on Eagle’s business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle’s securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle’s exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xx) Eagle’s ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that Eagle presently does not know or that Eagle currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the registration statement on Form S-4 initially filed by Eagle on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by Eagle from time to time, which may be found on the SEC’s website at www.sec.gov. Eagle cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Eagle undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle will make additional updates with respect to that statement, related matters, or any other forward-looking statements.

Investor Relations Contact:

775-335-2029
Investors@eaglenuclear.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

Membership highlights Eagle’s commitment to strengthening America’s domestic uranium supply

RENO, Nev., March 10, 2026 (GLOBE NEWSWIRE) — Eagle Nuclear Energy Corp. (“Eagle” or the “Company”) (NASDAQ: NUCL), a next-generation nuclear energy company which owns the largest conventional, measured and indicated uranium deposit in the United States, today announced its membership into the Uranium Producers of America (“UPA”), the national trade association representing companies across the front end of the nuclear fuel cycle, including uranium mining, conversion, and enrichment.

As the leading trade association for the domestic uranium sector, UPA advocates for policies that promote fair competition, strengthen nuclear energy generation, and support a secure U.S. nuclear fuel supply chain.

Eagle joins UPA at a time when policymakers and industry leaders are increasingly focused on strengthening the nation’s domestic uranium supply. According to the U.S. Energy Information Administration, the United States currently relies on imports for roughly 95% of its uranium. Domestic production is expected to reach about 1 million pounds in 2026, far short of the nearly 50 million pounds required annually to fuel the country’s nuclear reactors.

“As nuclear power rises in strategic importance for U.S. energy security, building a strong domestic uranium supply chain is critical,” said Eagle CEO Mark Mukhija. “We’re proud to be part of the Uranium Producers of America (UPA), a strong group of companies developing and producing America’s uranium resources. With one of the largest U.S. uranium assets and exclusive SMR technology, Eagle is uniquely positioned to help power the next generation of nuclear energy in the United States.”

In February 2026, Eagle began trading on the Nasdaq under the ticker symbol “NUCL”, marking its entry into the public markets as a U.S.-focused uranium development company. Anchored by its flagship Aurora Uranium Project and with exploration upside at their adjacent Cordex deposit, the Company is building a scalable U.S. nuclear energy platform designed to expand domestic uranium supply and strengthen long-term fuel security.

About Eagle Nuclear Energy Corp.

Eagle Nuclear Energy Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

For more information about Eagle Nuclear Energy Corp., visit www.eaglenuclear.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Eagle’s, or its management team’s expectations concerning the Business Combination and expected benefits thereof; the outlook for Eagle’s business; and projections regarding uranium production and demand. The forward-looking statements are based on the current expectations of the management teams of Eagle, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Business Combination on Eagle’s business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle’s securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle’s exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xx) Eagle’s ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that Eagle presently does not know or that Eagle currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the registration statement on Form S-4 initially filed by Eagle on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by Eagle from time to time, which may be found on the SEC’s website at www.sec.gov. Eagle cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Eagle undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle will make additional updates with respect to that statement, related matters, or any other forward-looking statements.

Investor Relations Contact:

775-335-2029
Investors@eaglenuclear.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

 

Ceremony highlights Eagle’s recent public listing and Nasdaq debut under ticker “NUCL”

RENO, Nev., March 09, 2026 (GLOBE NEWSWIRE) — Eagle Nuclear Energy Corp. (“Eagle” or the “Company”), a next-generation nuclear energy company which owns the largest conventional, measured and indicated uranium deposit in the United States, today announced that CEO Mark Mukhija will ring the Nasdaq Opening Bell at 9:30 a.m. ET on Wednesday, March 11, in recognition of the Company’s recent public listing.

Eagle officially commenced trading on the Nasdaq on February 25, 2025, under the ticker symbols “NUCL”, marking a new chapter as a publicly traded U.S.-focused uranium development company.

Eagle is the first domestic uranium resource exploration company with exclusive small modular reactor (SMR) technology to list on a U.S. exchange. Anchored by its flagship Aurora Uranium Project and supported by the adjacent Cordex deposit, the Company is building a scalable U.S. nuclear energy platform designed to expand domestic uranium supply and strengthen long-term fuel security. Together, these assets establish a strong foundation for Eagle’s development strategy and its path to becoming a leading U.S. uranium producer.

“Ringing the Nasdaq Opening Bell is a meaningful milestone for Eagle and for domestic nuclear energy development,” said Mukhija. “With electricity demand accelerating and nuclear power playing an increasingly critical role in energy security, advancing large-scale U.S. uranium resources is essential. We believe Eagle is uniquely positioned to help strengthen America’s long-term nuclear fuel supply chain, and we are proud to mark this next chapter as we begin executing on that vision as a public company.”

The Opening Bell ceremony will be broadcast live at 9:30 a.m. ET and live-streamed to Nasdaq’s official channels. To view the live broadcast, visit: https://www.nasdaq.com/marketsite/bell-ringing-ceremony.

About Eagle Nuclear Energy Corp.

Eagle Nuclear Energy Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

For more information about Eagle Nuclear Energy Corp., visit www.eaglenuclear.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Eagle’s, or its management team’s expectations concerning the Business Combination and expected benefits thereof; the outlook for Eagle’s business; the abilities to execute Eagle’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle. The forward-looking statements are based on the current expectations of the management teams of Eagle, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Business Combination on Eagle’s business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle’s securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle’s exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xx) Eagle’s ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that Eagle presently does not know or that Eagle currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the registration statement on Form S-4 initially filed by Eagle on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by Eagle from time to time, which may be found on the SEC’s website at www.sec.gov. Eagle cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Eagle undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle will make additional updates with respect to that statement, related matters, or any other forward-looking statements.

Investor Relations Contact:

775-335-2029
Investors@eaglenuclear.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

Feb 25 (Reuters) – Eagle Nuclear Energy’s (NUCL.O), opens new tab shares rose 14.6% in afternoon trade on Wednesday after the uranium exploration company began trading on Nasdaq following its merger with the blank-check firm, Spring Valley Acquisition Corp II.
The listing comes as nuclear energy in the U.S. gains traction after decades of stagnation, fueled by surging electricity demand from power-hungry data centers.
 
Eagle Nuclear’s flagship project, named Aurora, is one of the largest undeveloped uranium deposits in the U.S., along the border between Oregon and Nevada.
 
The project does not yet have any offtake agreements, CEO Mark Mukhija said in an interview, but added it has begun to receive initial interest, given that supply is expected to come online in the early 2030s.
He also expects it to be of interest to the U.S. Department of Energy as the company completes its pre-feasibility study.
Eagle Nuclear expects to start production in 2032, but the timeline could be accelerated as the industry is seeing favorable conditions, such as support from U.S. President Donald Trump’s administration, Mukhija added.
Last year, Trump issued executive orders seeking to speed up permissions for nuclear reactors, allowing the DoE to authorize the test reactors without approval from the Nuclear Regulatory Commission.
 
Mukhija also expects hyperscalers to start looking at uranium producers, and not just utilities, as a source of power supply within the next couple of years.
Eagle Nuclear’s merger with SVAC II includes a $30 million public-private investment that is expected to fund the company’s operations for about two years.
 

Reporting by Katha Kalia in Bengaluru; Editing by Leroy Leo

RENO, Nev., Feb. 25, 2026 (GLOBE NEWSWIRE) — Eagle Nuclear Energy Corp. (“Eagle” or the “Company”), a next-generation nuclear energy company which owns the largest conventional, measured and indicated uranium deposit in the United States, today announced that it has officially commenced trading on the Nasdaq under the ticker symbols “NUCL” and “NUCLW”, respectively.

Eagle is the first domestic uranium resource exploration company with exclusive small modular reactor (SMR) technology to list on a U.S. exchange. The Company is building a leading U.S. nuclear energy platform anchored by its significant uranium resource base and differentiated SMR capabilities, creating a first-mover advantage to seek to address the structural undersupply of domestically produced uranium and strengthen America’s nuclear fuel security.

Eagle’s flagship Aurora Uranium Project hosts the largest conventional, measured and indicated uranium resource in the United States, with 32.75 million pounds (Indicated) and 4.98 million pounds (Inferred) of near-surface uranium. Located on the border of Oregon and Nevada, the Aurora site has more than 500 drill holes completed to date and is considered geologically low-risk and cost-effective.

Adjacent to Aurora is the Cordex deposit which has had over 100 additional holes drilled into it. Eagle believes that Cordex offers the potential to add significantly to the project’s overall uranium resource inventory once its ongoing data digitization and compilation work is completed.

Together the Aurora and Cordex projects have the potential to provide a strong, scalable resource foundation to support long-term growth and position the Company as a leading U.S. nuclear energy producer.

Eagle strives to restore American leadership in the nuclear industry at a time when AI, quantum computing, and cryptocurrency are driving unprecedented electricity demand, straining global grids and increasing reliance on always-on, high capacity factor power sources, such as nuclear energy.

Eagle is led by CEO Mark Mukhija, P.Eng., who has nearly two decades of global mining and mining technology experience with major industry players including Teck Resources, Barrick, and BHP.

Mark Mukhija, Eagle’s CEO, commented: “Eagle Nuclear Energy Corp. commencing trading on the Nasdaq is a major step forward for our company and an impactful development for the domestic nuclear industry here in the United States. Our mission is to restore American leadership in the nuclear industry. Equipped with the largest conventional, measured and indicated uranium deposit in the United States, alongside our exclusive SMR technology, I believe we are well positioned to capitalize on this mission and rebuild a secure domestic nuclear supply chain precisely when it is needed most. The rapid growth of electricity demand in recent years accentuates the need for reliable, affordable energy sources. We are eager to address this need moving forward, and view today’s Nasdaq listing as a tangible step towards closing the gap between domestic demand and supply.”

About Eagle Nuclear Energy Corp.

Eagle Nuclear Energy Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

For more information about Eagle Nuclear Energy Corp., visit www.eaglenuclear.com.

Cautionary Note Regarding Forward-Looking Statements 

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, Eagle’s, or its management team’s expectations concerning the Business Combination and expected benefits thereof; the outlook for Eagle’s business; the abilities to execute Eagle’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle. The forward-looking statements are based on the current expectations of the management teams of Eagle, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Business Combination on Eagle’s business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle’s securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle’s exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xx) Eagle’s ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that Eagle presently does not know or that Eagle currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the registration statement on Form S-4 initially filed by Eagle on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by Eagle from time to time, which may be found on the SEC’s website at www.sec.gov. Eagle cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Eagle undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle will make additional updates with respect to that statement, related matters, or any other forward-looking statements.

Investor Relations Contact:

775-335-2029
info@eaglenuclear.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

RENO, Nev., Feb. 24, 2026 (GLOBE NEWSWIRE) — Eagle Energy Metals Corp. (“Eagle”), a next-generation nuclear energy company with rights to the largest conventional, measured and indicated uranium deposit in the United States, today announced that it has completed its business combination with Spring Valley Acquisition Corp. II (OTC: SVIIF) (“SVII”), a special purpose acquisition company (the “Business Combination”). The Business Combination was approved by SVII shareholders in a special meeting held on February 23, 2026 and formally closed on February 24, 2026.

The new combined company will operate as “Eagle Nuclear Energy Corp.” (“Eagle Nuclear”). On February 25, 2026, Eagle Nuclear’s common stock and public warrants will begin trading on the Nasdaq under the ticker symbols “NUCL” and “NUCLW”, respectively.

Mark Mukhija, Eagle’s CEO, commented: “The completion of our business combination with SVII is the culmination of months of hard work and company development. The closing of this transaction marks another key milestone in our efforts to rebuild a secure domestic nuclear supply chain here in the United States. Anchored by our significant uranium deposit and SMR technology, we believe we are well positioned to restore American leadership in the nuclear industry at a time when AI, quantum computing, and cryptocurrency are driving unprecedented electricity demand. We are optimistic about the path ahead and look forward to addressing electricity demand and uranium market needs moving forward.”

Chris Sorrells, Chairman & CEO of SVII, added: “Today’s successful merger completion marks a significant milestone for our company, our shareholders and the future of the U.S. nuclear industry. Eagle is a unique partner, with significant domestic uranium capabilities that can directly respond to market demand, alongside record private investments in U.S. nuclear projects. We look forward to working closely with the Eagle team as they continue to address the need for domestic uranium production.”

Advisors

Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, is the exclusive financial advisor, lead capital markets advisor and private placement agent to SVII. Greenberg Traurig, LLP is serving as legal counsel to SVII, and Nelson Mullins Riley & Scarborough LLP is serving as legal counsel to Eagle. Gateway Group is serving as investor relations and public relations advisor for the transaction.

About Eagle Energy Metals Corp.

Eagle Energy Metals Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with proprietary Small Modular Reactor (SMR) technology. The Company holds the rights to the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

For more information about Eagle Energy Metals Corp., visit eaglenuclear.com

About Spring Valley Acquisition Corp. II

Spring Valley Acquisition Corp. II (“Spring Valley II”) is part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the Power Infrastructure and Decarbonization sectors. Over the past five years, Spring Valley has raised $920 million across four IPOs. Spring Valley II is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. Spring Valley I successfully completed its business combination with NuScale Power (NYSE: SMR), a leading U.S. small modular reactor (“SMR”) technology company, and Spring Valley II successfully completed its business combination with Eagle Energy Metals, a next-generation nuclear energy company that combines domestic uranium exploration with proprietary SMR technology. Spring Valley III has announced a business combination with General Fusion, a global leader in fusion energy developing a differentiated, engineering-driven approach to commercial fusion power.

SVII maintains a corporate website at https://sv-ac.com.

Cautionary Note Regarding Forward-Looking Statements 

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, SVII’s, Eagle Nuclear’s, Eagle’s, or their respective management teams’ expectations concerning the Business Combination and expected benefits thereof; the outlook for Eagle’s or Eagle Nuclear’s business; the abilities to execute Eagle’s or Eagle Nuclear’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle or Eagle Nuclear. The forward-looking statements are based on the current expectations of the respective management teams of Eagle, Eagle Nuclear, and SVII, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Business Combination on Eagle’s business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle or SVII related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle Nuclear’s securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle Nuclear’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro- economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (ix) restrictions on mining in the jurisdictions in which Eagle operates; (x) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xi) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xii) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xiii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) risks relating to Eagle’s exploration operations; (xvii) fluctuations in currency markets; (xviii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xix) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xx) Eagle’s ability to complete and successfully integrate acquisitions; (xxi) increased competition in the mining industry for properties and equipment; (xxii) limited supply of materials and supply chain disruptions; (xxiii) relations with and claims by indigenous populations; (xxiv) relations with and claims by local communities and non-governmental organizations; and (xxv) the risk that other capital needed by Eagle Nuclear may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither SVII, Eagle, nor Eagle Nuclear presently know or that SVII, Eagle, and Eagle Nuclear currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the “Risk Factors” section of the Form 10-K filed by SVII for the year ended December 31, 2024, the risks described in the registration statement on Form S-4 initially filed by Eagle Nuclear on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any amendments or supplements thereto, and those discussed and identified in other filings made with the SEC by SVII, Eagle Nuclear or Eagle from time to time, which may be found on the SEC’s website at www.sec.gov. Eagle, Eagle Nuclear, and SVII caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Neither Eagle, SVII, nor Eagle Nuclear undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Eagle Nuclear, Eagle or SVII will make additional updates with respect to that statement, related matters, or any other forward-looking statements.

Investor Relations Contact:

775-335-2029
info@eaglenuclear.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

– The U.S. Securities and Exchange Commission (“SEC”) has declared effective the registration statement on Form S-4 (File No. 333- 290631) (as amended, the “Registration Statement”) filed by Eagle Nuclear Energy Corp. (“New Eagle”) and co-registrant Eagle Energy Metals Corp. (“Eagle”) –

– Extraordinary General Meeting of Shareholders of Spring Valley Acquisition Corp. II (OTC: SVIIF) (“SVII”) to approve proposed business combination with New Eagle and Eagle (the “Proposed Business Combination”) to be held on February 23, 2026 –

– Record date for the Extraordinary General Meeting is January 5, 2026 –

– Upon closing, combined company stock and warrants will trade on Nasdaq under “NUCL” and “NUCLW” ticker symbols –

RENO, Nev., Feb. 02, 2026 (GLOBE NEWSWIRE) — Eagle, a next-generation nuclear energy company with rights to the largest open pit-constrained measured and indicated uranium deposit in the United States, and SVII, a special purpose acquisition company, today announced that the SEC has declared effective the Registration Statement, which includes a proxy statement/prospectus in connection with SVII’s Extraordinary General Meeting of Shareholders (the “Extraordinary General Meeting”) to approve the Proposed Business Combination. The Proposed Business Combination is expected to result in New Eagle listing its common stock and warrants on Nasdaq under the ticker symbols “NUCL” and “NUCLW,” respectively, subject to approval of its listing application. Additionally, SVII today announced that it has set a record date of January 5, 2026 (the “Record Date”) and meeting date of February 23, 2026 for the Extraordinary General Meeting.

SVII’s shareholders of record at the close of business on the Record Date are entitled to receive notice of the Extraordinary General Meeting and to vote the ordinary shares of SVII owned by them at the Extraordinary General Meeting. The Extraordinary General Meeting will be held virtually and in-person at the offices of Greenberg Traurig, LLP, located at One Vanderbilt Ave, New York, NY 10017. In connection with the Extraordinary General Meeting, SVII’s shareholders that wish to exercise their redemption rights must do so no later than 5:00 p.m. Eastern Time on February 19, 2026 by following the procedures specified in the proxy statement/prospectus for the Extraordinary General Meeting. There is no requirement that shareholders affirmatively vote for or against the Proposed Business Combination at the Extraordinary General Meeting in order to redeem their shares for cash.

As announced previously, upon completion of the Proposed Business Combination, SVII and Eagle will each become a direct wholly-owned subsidiary of New Eagle, and New Eagle will become a publicly traded company, with its common stock and warrants expected to trade on the Nasdaq Capital Market under the ticker symbols “NUCL” and “NUCLW,” respectively, and SVII’s securities will no longer trade.

The Record Date determines the holders of SVII’s ordinary shares entitled to receive notice of and to vote at the Extraordinary General Meeting, and at any adjournment or postponement thereof, whereby shareholders will be asked to approve and adopt the Proposed Business Combination, and such other proposals as disclosed in the proxy statement included in the Registration Statement. If the Proposed Business Combination is approved by SVII shareholders, SVII anticipates closing the Proposed Business Combination shortly after the Extraordinary General Meeting, subject to the satisfaction or waiver (as applicable) of all other closing conditions.

The Extraordinary General Meeting will take place at 10:00 a.m., Eastern Time, on February 23, 2026 via a virtual meeting at the following address: https://www.cstproxy.com/svacii/2026 and in-person at the offices of Greenberg Traurig, LLP, located at One Vanderbilt Ave, New York, NY 10017. SVII shareholders entitled to vote at the Extraordinary General Meeting will need the 12-digit meeting control number that is printed on their respective proxy cards to participate in the virtual meeting. SVII recommends that its shareholders wishing to vote at the Extraordinary General Meeting log in at least 15 minutes before the Extraordinary General Meeting starts. SVII encourages its shareholders entitled to vote at the Extraordinary General Meeting to vote their shares via proxy in advance of the Extraordinary General Meeting by following the instructions on the proxy card.

About Eagle Energy Metals Corp.
Eagle Energy Metals Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with proprietary Small Modular Reactor (SMR) technology. The Company holds the rights to the largest open pit-constrained, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry. For more information about Eagle Energy Metals Corp., visit www.eagleenergymetals.com.

About Spring Valley Acquisition Corp. II
Spring Valley Acquisition Corp. II (OTC: SVIIF, SVIRF, SVIUF, and SVIWF) is a part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the energy and decarbonization industries. SVII is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. SVII’s board of directors includes Christopher D. Sorrells (Chairman), Sharon Youngblood, Rich Thompson, David Buzby, David Levinson, and Kevin Pohler. Its Sponsor group includes Pearl Energy; a $3.0 billion Texas-based firm focused on the North American energy sector. Spring Valley I successfully completed its business combination with NuScale Power, a leading U.S. small modular reactor (“SMR”) technology company in May 2022. SVII maintains a corporate website at https://sv-ac.com.

Additional Information and Where to Find It

In connection with the Proposed Business Combination, New Eagle filed with the SEC the Registration Statement, which includes a prospectus with respect to New Eagle’s securities to be issued in connection with the Proposed Business Combination and a proxy statement to be distributed to holders of SVII’s Class A Ordinary Shares in connection with SVII’s solicitation of proxies for the vote by SVII’s shareholders with respect to the Proposed Business Combination and other matters described in the Registration Statement (collectively, the “Proxy Statement”). The SEC declared the Registration Statement effective on January 30, 2026, and SVII has filed the definitive Proxy Statement with the SEC on February 2, 2026 and will be mailing copies to shareholders of SVII as of the Record Date. This press release does not contain all of the information that should be considered concerning the Proposed Business Combination and is not a substitute for the Registration Statement, the Proxy Statement or for any other document that SVII, New Eagle or Eagle may file with the SEC. Before making any investment or voting decision, investors and security holders of SVII, New Eagle and Eagle are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about New Eagle, Eagle, SVII and the Proposed Business Combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by SVII, New Eagle or Eagle through the website maintained by the SEC at www.sec.gov. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation

New Eagle, Eagle, SVII and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from SVII’s shareholders in connection with the Proposed Business Combination. For more information about the names, affiliations and interests of SVII’s directors and executive officers, please refer to SVII’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on April 11, 2025 (the “2024 Form 10-K”) and the Registration Statement, the Proxy Statement and other relevant materials filed or to be filed with the SEC in connection with the Proposed Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of SVII’s shareholders generally, are included in the Registration Statement and the Proxy Statement. Shareholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, carefully, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This press release shall not constitute a “solicitation” as defined in Section 14 of the Exchange Act of 1934, as amended. This press release shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Proposed Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act or an exemption therefrom.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, SVII’s, New Eagle’s, Eagle’s, or their respective management teams’ expectations concerning the Proposed Business Combination and expected benefits thereof; the outlook for Eagle’s or New Eagle’s business; the abilities to execute Eagle’s or New Eagle’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle or New Eagle. The forward-looking statements are based on the current expectations of the respective management teams of Eagle, New Eagle, and SVII, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the Proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of SVII’s securities; (ii) the risk that the Proposed Business Combination may not be completed by SVII’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SVII; (iii) the failure to satisfy the conditions to the consummation of the Proposed Business Combination, including the approval of the related merger agreement (the “Merger Agreement”) by the shareholders of SVII and the receipt of regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the Proposed Business Combination on Eagle’s business relationships, performance, and business generally; (vii) risks that the Proposed Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Eagle or SVII related to the Merger Agreement or the Proposed Business Combination; (ix) failure to realize the anticipated benefits of the Proposed Business Combination; (x) the inability to meet listing requirements and maintain the listing of the combined company’s securities on Nasdaq Capital Market or a comparable exchange; (xi) the risk that the price of the combined company’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro- economic and social environments affecting its business; (xii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (xiii) restrictions on mining in the jurisdictions in which Eagle operates; (xiv) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xv) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xvi) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xvii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xviii) environmental regulations and legislation; (xix) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xx) risks relating to Eagle’s exploration operations; (xxi) fluctuations in currency markets; (xxii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xxiii) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xxiv) Eagle’s ability to complete and successfully integrate acquisitions; (xxv) increased competition in the mining industry for properties and equipment; (xxvi) limited supply of materials and supply chain disruptions; (xxvii) relations with and claims by indigenous populations; (xxviii) relations with and claims by local communities and non-governmental organizations; and (xxix) the risk that the Series A Preferred Stock Investment may not be completed, or that other capital needed by the combined company may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither SVII, Eagle, nor New Eagle presently know or that SVII, Eagle, and New Eagle currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the “Risk Factors” section of the 2024 Form 10-K, the risks described or to be described in the Registration Statement, the Proxy Statement, and any amendments or supplements thereto, and those discussed and identified in filings made with the SEC by SVII, New Eagle or Eagle from time to time. Eagle, New Eagle, and SVII caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this press release speak only as of the date of this press release. Neither Eagle, SVII, nor New Eagle undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that New Eagle, Eagle or SVII will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the Proposed Business Combination, in SVII’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.

Investor Relations Contact:

775-335-2029
info@eagleenergymetals.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

 

Targeted Drill Program Aimed at Advancing Aurora Uranium Project as Company Progresses Toward Planned Nasdaq Listing

RENO, Nev., Jan. 12, 2026 (GLOBE NEWSWIRE) — Eagle Energy Metals Corp. (“Eagle” or the “Company”), a next-generation nuclear energy company with rights to the largest open pit-constrained, measured and indicated uranium deposit in the United States and proprietary Small Modular Reactor (“SMR”) technology, is pleased to announce today that it has engaged BBA USA Inc. (“BBA”), an eminent consulting firm with more than 45 years of experience in the energy and natural resources sector, to develop and design a limited drilling campaign in support of an eventual Pre-Feasibility Study (“PFS”) at its Aurora Uranium Project (“Aurora” or the “Project”).

BBA will design and optimize the number, location, and orientation of drill holes to help achieve specific objectives that will each play a critical role in the completion of the PFS. These objectives include (1) advanced metallurgical testing and process flow sheet design, (2) hydrogeological analysis, (3) geotechnical and rock mechanics analysis, (4) mineral resource classification enhancement, and (5) mineral resource expansion. BBA previously completed Aurora’s S-K 1300 Mineral Resource Estimate and authored the related Technical Report Summary in August 2025, providing technical continuity as the Project advances.

“We’re seeing sustained demand for nuclear power translate into real demand for uranium, particularly for projects located in the U.S.,” said Mark Mukhija, CEO of Eagle Energy Metals. “Advancing Aurora with BBA is about making sure this asset is ready to meet that demand as the market continues to tighten. We believe that the continued development at Aurora paired with this significant industry demand furthers our ability to become a strategic national asset and leading domestic supplier of nuclear power.”

BBA’s engagement supports Eagle’s broader strategy as the Company continues to progress toward its planned Nasdaq listing under the ticker symbol “NUCL” in connection with its proposed business combination with Spring Valley Acquisition Corp. II (OTC: SVIIF).

Demand for nuclear power is increasing as technology companies seek reliable, long-term energy to support artificial intelligence and large-scale data centers. Recently, Meta announced agreements with nuclear energy providers including TerraPower and Oklo to help supply electricity for its planned Prometheus AI supercluster in Ohio, reinforcing the growing role of nuclear energy and the importance of a secure, domestic uranium supply.

For more information, please visit Eagleenergymetals.com.

About Eagle Energy Metals Corp.
Eagle Energy Metals Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with proprietary Small Modular Reactor (SMR) technology. The Company holds the rights to the largest open pit-constrained, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry. For more information about Eagle Energy Metals Corp., visit www.eagleenergymetals.com.

About Spring Valley Acquisition Corp. II
Spring Valley Acquisition Corp. II (“SVII”) (SVIIF, SVIRF, SVIUF, and SVIWF) is a part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the energy and decarbonization industries. Over the past 5 years, Spring Valley has raised $690 million in three IPOs. SVII is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. SVII’s board of directors includes Christopher D. Sorrells (Chairman), Sharon Youngblood, Rich Thompson, David Buzby, David Levinson, and Kevin Pohler. Its Sponsor group includes Pearl Energy; a $3.0 billion Texas-based firm focused on the North American energy sector. Spring Valley I successfully completed its business combination with NuScale Power, a leading U.S. small modular reactor (“SMR”) technology company in May 2022. SVII maintains a corporate website at https://sv-ac.com.

Additional Information and Where to Find It

In connection with the transactions (the “Proposed Business Combination”) contemplated by the Merger Agreement between Spring Valley Acquisition Corp. II (“SVII”), Eagle Energy Metals Corp. (“Eagle”), and Eagle Nuclear Energy Corp. (“New Eagle”), New Eagle filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 (File No. 333-290631) (as amended, the “Registration Statement”), which includes a preliminary prospectus with respect to New Eagle’s securities to be issued in connection with the Proposed Business Combination and a preliminary proxy statement to be distributed to holders of SVII’s Class A Ordinary Shares in connection with SVII’s solicitation of proxies for the vote by SVII’s shareholders with respect to the Proposed Business Combination and other matters described in the Registration Statement (collectively, the “Proxy Statement”). After the SEC declares the Registration Statement effective, SVII plans to file the definitive Proxy Statement with the SEC and to mail copies to shareholders of SVII as of a record date to be established for voting on the Proposed Business Combination and other matters described in the Registration Statement. This document does not contain all of the information that should be considered concerning the Proposed Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that SVII, New Eagle or Eagle may file with the SEC. Before making any investment or voting decision, investors and security holders of SVII, New Eagle and Eagle are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about New Eagle, Eagle, SVII and the Proposed Business Combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by SVII, New Eagle or Eagle through the website maintained by the SEC at www.sec.gov. The information contained on, or that may be accessed through, the websites referenced in this document is not incorporated by reference into, and is not a part of, this document.

Participants in the Solicitation

New Eagle, Eagle, SVII and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from SVII’s shareholders in connection with the Proposed Business Combination. For more information about the names, affiliations and interests of SVII’s directors and executive officers, please refer to SVII’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on April 11, 2025 (the “2024 Form 10-K”) and the Registration Statement, Proxy Statement and other relevant materials filed or to be filed with the SEC in connection with the Proposed Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of SVII’s shareholders generally, will be included in the Registration Statement and the Proxy Statement. Shareholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, carefully, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This document shall not constitute a “solicitation” as defined in Section 14 of the Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Proposed Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act or an exemption therefrom.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this document are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this document are forward-looking statements. The forward-looking statements are based on current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. You should carefully consider the factors discussed in this document and the other risks and uncertainties described in the “Risk Factors” section of the 2024 Form 10-K, the risks described or to be described in the Registration Statement, the Proxy Statement, and any amendments or supplements thereto, and those discussed and identified in filings made with the SEC by SVII, New Eagle or Eagle from time to time. Eagle, New Eagle, and SVII caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this document speak only as of the date of this document. Neither Eagle, SVII, nor New Eagle undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that additional updates will be made with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the Proposed Business Combination, in SVII’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.

Investor Relations Contact:

775-335-2029
info@eagleenergymetals.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

Appoints Ajay Toor, Chief Financial Officer, Vishal Gupta, Vice President of Operations, and Benjamin Egnew, Head of Reactor Licensing

RENO, Nev., Dec. 02, 2025 (GLOBE NEWSWIRE) — Eagle Energy Metals Corp. (“Eagle” or the “Company”), a next-generation nuclear energy company with rights to the largest open pit-constrained measured and indicated uranium deposit in the United States and exclusive Small Modular Reactor (SMR) technology, announced today the appointments of Ajay Toor as Chief Financial Officer, Vishal Gupta as Vice President of Operations, and Benjamin Egnew as Head of Reactor Licensing. These additions bring deep financial, operational, and regulatory expertise as Eagle advances towards its planned listing on Nasdaq under the ticker “NUCL” following its proposed business combination with Spring Valley Acquisition Corp. II (SVIIF).

The appointments come at a pivotal time for the Company as federal investment in next-generation nuclear technologies accelerates and U.S. agencies increase support for domestic uranium production. Eagle is expanding its leadership team to meet rising execution demands, strengthen public-company readiness, and advance its vertically integrated strategy.

Ajay Toor, Chief Financial Officer

Toor, a CPA, brings over nine years of experience in corporate finance, financial reporting, and public-company compliance. He has held CFO and director roles at multiple public companies in the mining and technology sectors, including NextGen Digital Platforms Inc., American Tungsten Corp., and Rush Gold Corp. He has also held finance and accounting roles at Windset Farms, BroadbandTV (now RHEI), Baron Global Financial, and MNP LLP. At Eagle, Toor will oversee all financial strategy, reporting, and public-company readiness as the Company prepares for the next phase of growth in the U.S. nuclear sector.

Vishal Gupta, Vice President of Operations

Gupta is a mining executive, professional geologist, and former investment banker with nearly two decades of experience across precious, base, battery, and energy metals. His work in capital markets includes technical due diligence, M&A advisory, and valuation analysis for resource projects across multiple jurisdictions. He has held C-suite and senior leadership roles at several mining companies and previously worked with Dundee Capital Markets, Cormark Securities, and Desjardins Securities. Gupta holds a Master of Science degree in geology from the University of Toronto and is registered as a P.Geo. with the Professional Geoscientists of Ontario. At Eagle, he will guide day-to-day operational planning to help advance the Company’s flagship Aurora uranium project towards Pre-Feasibility and eventual development as federal interest in domestic uranium supply continues to grow.

Benjamin Egnew, Head of Reactor Licensing

Egnew brings more than 27 years of nuclear experience across the U.S. Navy and the commercial nuclear fleet, with a background spanning operations, maintenance, training, and licensing. His leadership roles extend across both the Nuclear Navy and the Army National Guard’s Logistics Corps. He holds an MBA from the University of Phoenix and dual Bachelor of Science degrees in nuclear engineering and engineering physics from Rensselaer Polytechnic Institute. At Eagle, he will oversee licensing and develop a regulatory structure aligned with DOE and NRC priorities as federal agencies fast-track advanced reactor projects and expand support for domestic uranium supply and the broader nuclear fuel cycle.

“With one of the largest near-surface uranium resources in the country and exclusive SMR technology, Eagle is focused on building a platform that can support rising U.S. demand for carbon-free nuclear power,” said Mark Mukhija, CEO of Eagle Energy Metals. “As our work advances and we move toward our planned Nasdaq listing, having the right leadership becomes increasingly important. Ajay, Vishal, and Ben add meaningful capability at an important time for us.”

Toor added: “With so much momentum behind advanced nuclear, this is an exciting moment for Eagle. My focus is on building the financial and reporting foundation the Company needs as it becomes a public company and prepares for long-term growth.”

Gupta stated: “Uranium resources of this scale are rare in the United States. Bringing one forward takes real operational discipline, and that’s exactly what I’m here to build at Eagle.”

Egnew commented: “Clear, consistent licensing work is central to deploying next-generation SMRs in the U.S. I’m excited to help build the processes that support that effort and give Eagle a stable foundation as we scale our reactor technology, and I’m eager to collaborate with the exceptional team at Eagle to turn that vision into reality.”

For more information, please visit Eagleenergymetals.com.

About Eagle Energy Metals Corp.
Eagle Energy Metals Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company holds the rights to the largest open pit-constrained measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry. For more information about Eagle Energy Metals Corp., visit www.eagleenergymetals.com.

About Spring Valley Acquisition Corp. II
Spring Valley Acquisition Corp. II (“SVII”) (SVIIF, SVIRF, SVIUF, and SVIWF) is a part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the energy and decarbonization industries. Over the past 5 years, Spring Valley has raised $690 million in three IPOs. SVII is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. SVII’s board of directors includes Christopher D. Sorrells (Chairman), Sharon Youngblood, Rich Thompson, David Buzby, David Levinson, and Kevin Pohler. Its Sponsor group includes Pearl Energy; a $3.0 billion Texas-based firm focused on the North American energy sector. Spring Valley I successfully completed its business combination with NuScale Power, a leading U.S. small modular reactor (“SMR”) technology company in May 2022. SVII maintains a corporate website at https://sv-ac.com.

Investor Relations Contact:

775-335-2029
info@eagleenergymetals.com

Media Relations Contact:

Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
EAGLE@Gateway-grp.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this document are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, SVII’s, Eagle Nuclear Energy Corp.’s (“New Eagle”), Eagle’s, or their respective management teams’ expectations concerning the proposed business combination (the “Business Combination”) and expected benefits thereof; the outlook for Eagle’s or New Eagle’s business; costs and yields of Eagle’s mining projects; the abilities to execute Eagle’s or New Eagle’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle or New Eagle. The forward-looking statements are based on the current expectations of the respective management teams of Eagle, New Eagle, and SVII, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of SVII’s securities; (ii) the risk that the proposed Business Combination may not be completed by SVII’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SVII; (iii) the failure to satisfy the conditions to the consummation of the proposed Business Combination, including the approval of the Merger Agreement relating to the Business Combination (the “Merger Agreement”) by the shareholders of SVII and the receipt of regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the proposed Business Combination on Eagle’s business relationships, performance, and business generally; (vii) risks that the proposed Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Eagle or SVII related to the Merger Agreement or the proposed Business Combination; (ix) failure to realize the anticipated benefits of the proposed Business Combination; (x) the inability to meet listing requirements and maintain the listing of the combined company’s securities on Nasdaq; (xi) the risk that the price of the combined company’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro- economic and social environments affecting its business; (xii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (xiii) restrictions on mining in the jurisdictions in which Eagle operates; (xiv) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xv) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xvi) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xvii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xviii) environmental regulations and legislation; (xix) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xx) risks relating to Eagle’s exploration operations; (xxi) fluctuations in currency markets; (xxii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xxiii) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xxiv) Eagle’s ability to complete and successfully integrate acquisitions; (xxv) increased competition in the mining industry for properties and equipment; (xxvi) limited supply of materials and supply chain disruptions; (xxvii) relations with and claims by indigenous populations; (xxviii) relations with and claims by local communities and non-governmental organizations; and (xxix) the risk that the proposed Series A Preferred Stock Investment into New Eagle may not be completed, or that other capital needed by the combined company may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither SVII, Eagle, nor New Eagle presently know or that SVII, Eagle, and New Eagle currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this document and the other risks and uncertainties described in the “Risk Factors” section of SVII’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on April 11, 2025 (the “2024 Form 10-K”), the risks described or to be described in the Registration Statement on Form S-4, the Proxy Statement (each as defined below), and any amendments or supplements thereto, and those discussed and identified in filings made with the Securities and Exchange Commission (the “SEC”) by SVII, New Eagle or Eagle from time to time. Eagle, New Eagle, and SVII caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this document speak only as of the date of this document. Neither Eagle, SVII, nor New Eagle undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that New Eagle, Eagle or SVII will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the proposed Business Combination, in SVII’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.

Additional Information and Where to Find It

In connection with the proposed Business Combination, New Eagle filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 (File No. 333-290631) (the “Registration Statement”), which includes a preliminary prospectus with respect to New Eagle’s securities to be issued in connection with the Business Combination and a preliminary proxy statement to be distributed to holders of SVII’s Class A Ordinary Shares in connection with SVII’s solicitation of proxies for the vote by SVII’s shareholders with respect to the Business Combination and other matters described in the Registration Statement (collectively, the “Proxy Statement”). After the SEC declares the Registration Statement effective, SVII plans to file the definitive Proxy Statement with the SEC and to mail copies to shareholders of SVII as of a record date to be established for voting on the Business Combination and other matters described in the Registration Statement. This press release does not contain all of the information that should be considered concerning the Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that SVII, New Eagle or Eagle may file with the SEC. Before making any investment or voting decision, investors and security holders of SVII, New Eagle and Eagle are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Business Combination as they become available because they will contain important information about New Eagle, Eagle, SVII and the Business Combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by SVII, New Eagle or Eagle through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by SVII may be obtained free of charge from SVII’s website at www.sv-ac.com or by directing a request to Spring Valley Acquisition Corp. II, Attn: Corporate Secretary, 2100 McKinney Avenue, Suite 1675, Dallas, Texas 75201. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this document.

Participants in the Solicitation

New Eagle, Eagle, SVII and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from SVII’s shareholders in connection with the Business Combination. For more information about the names, affiliations and interests of SVII’s directors and executive officers, please refer to 2024 Form 10-K and the Registration Statement, Proxy Statement and other relevant materials filed or to be filed with the SEC in connection with the Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of SVII’s shareholders generally, will be included in the Registration Statement and the Proxy Statement. Shareholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, carefully, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This document shall not constitute a “solicitation” as defined in Section 14 of the Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

Uranium recoveries in the high-80-percent range and lower processing costs strengthen the Aurora Project and support Eagle’s growth into a leading domestic supplier of nuclear power

RENO, Nev., Nov. 12, 2025 (GLOBE NEWSWIRE) — Eagle Energy Metals Corp. (“Eagle” or the “Company”), a next-generation nuclear energy company with rights to the largest, measured and indicated uranium deposit in the United States and exclusive Small Modular Reactor (SMR) technology, today highlighted new metallurgical optimization results announced by Aurora Energy Metals Ltd. (“Aurora Energy”) for the Aurora Uranium Project (“Aurora” or the “Project”) in southeast Oregon.

The Project includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (from SK-1300 Technical Report Summary dated August 8, 2025, “TRS”) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the Project’s overall resource inventory, based on over 500 completed drill holes, making it one of the largest uranium assets in the country. Eagle expects the Project to serve as its flagship asset following the completion of its proposed business combination (the “Business Combination”) with Spring Valley Acquisition Corp. II (SVIIF), announced in July. Upon closing, Eagle plans to list on Nasdaq under the ticker “NUCL”.

By pairing a large, geologically low-risk uranium resource with exclusive SMR technology, Eagle aims to help strengthen the U.S. uranium supply and help rebuild a secure domestic nuclear supply chain. Aurora Energy’s recently completed metallurgical program demonstrates strong gains in processing efficiency and cost reduction.

Metallurgical Optimization Delivers High Recoveries and Lower Costs

  • Optimization program confirms uranium recoveries in the high 80% range, consistent with prior best results.
  • Initial acid addition reduced to 240-250 kg/t from the previous requirement of over 600 kg/t.
  • Overall acid consumption lowered to ~70–90 kg/t, enhancing project economics.
  • Tests demonstrate no requirement for separate processing of clay and middlings, simplifying the flowsheet while reducing capital and operating costs.
  • Leach duration reduced to ~12 hours from the previous duration of 24 hours, with no requirement for ferric sulphate, further reducing reagent costs.
  • Recycling of leach solution shows potential to further lower acid consumption.

 

“Reducing acid use and cutting processing times can make a meaningful difference in the economics of a uranium project,” said Mark Mukhija, CEO of Eagle Energy Metals. “These results show that Aurora’s uranium may be recovered more efficiently and at lower cost than anticipated, without sacrificing performance. For Eagle, that would be a clear validation of the Project’s quality and a key step toward building a reliable U.S. uranium supply chain that can support the nation’s clean energy goals.”

Eagle will continue working closely with Aurora Energy as the Project advances toward the next phase of technical and economic studies. The optimization results reinforce Eagle’s long-term vision to develop a fully integrated nuclear energy platform, linking domestic uranium resources with next-generation SMR technology to help meet rising U.S. demand for reliable, carbon-free power.

About Eagle Energy Metals Corp.
Eagle Energy Metals Corp. is a next-generation nuclear energy company that seeks to combine domestic uranium exploration with proprietary Small Modular Reactor (SMR) technology. The Company holds the rights to the largest measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (from TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the Project’s overall resource inventory. By integrating advanced SMR technology with a sizeable uranium asset, Eagle is building an integrated nuclear platform positioned to help restore American leadership in the global nuclear industry.

For more information about Eagle Energy Metals Corp., visit www.eagleenergymetals.com.

About SVII Acquisition Corp. II
Spring Valley Acquisition Corp. II (“SVII”) (SVIIF, SVIRF, SVIUF, and SVIWF) is a part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the energy and decarbonization industries. Over the past 5 years, Spring Valley has raised $690 million in three IPOs. SVII is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. SVII’s board of directors includes Christopher D. Sorrells (Chairman), Sharon Youngblood, Rich Thompson, David Buzby, David Levinson, and Kevin Pohler. Its Sponsor group includes Pearl Energy; a $3.0 billion Texas-based firm focused on the North American energy sector. Spring Valley I successfully completed its business combination with NuScale Power, a leading U.S. small modular reactor (“SMR”) technology company in May 2022. SVII maintains a corporate website at https://sv-ac.com.

The scientific and technical information related to metallurgical test work disclosed in this release has been reviewed and approved by BBA USA Inc. BBA USA Inc. is considered a “Qualified Person” as defined under S-K 1300.

Investor Relations Contact:
775-335-2029
info@eagleenergymetals.com

Media Relations Contact:
Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
eagle@gateway-grp.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this document are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, SVII’s, Eagle Nuclear Energy Corp.’s (“New Eagle”), Eagle’s, or their respective management teams’ expectations concerning the proposed Business Combination and expected benefits thereof; the outlook for Eagle’s or New Eagle’s business; costs and yields of Eagle’s mining projects; the abilities to execute Eagle’s or New Eagle’s strategies; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle or New Eagle. The forward-looking statements are based on the current expectations of the respective management teams of Eagle, New Eagle, and SVII, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of SVII’s securities; (ii) the risk that the proposed Business Combination may not be completed by SVII’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SVII; (iii) the failure to satisfy the conditions to the consummation of the proposed Business Combination, including the approval of the Merger Agreement relating to the Business Combination (the “Merger Agreement”) by the shareholders of SVII and the receipt of regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the proposed Business Combination on Eagle’s business relationships, performance, and business generally; (vii) risks that the proposed Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Eagle or SVII related to the Merger Agreement or the proposed Business Combination; (ix) failure to realize the anticipated benefits of the proposed Business Combination; (x) the inability to maintain the listing of SVII’s securities or to meet listing requirements and maintain the listing of the combined company’s securities on Nasdaq Capital Market or a comparable exchange; (xi) the risk that the price of the combined company’s securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro- economic and social environments affecting its business; (xii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (xiii) restrictions on mining in the jurisdictions in which Eagle operates; (xiv) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xv) Eagle’s ability to obtain or renew the licenses and permits necessary for the operation and expansion of its existing operations and for the development, construction and commencement of new operations; (xvi) risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins and flooding); (xvii) inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; the speculative nature of mineral exploration and development; the inability to determine, with certainty, production and cost estimates; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); (xviii) environmental regulations and legislation; (xix) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xx) risks relating to Eagle’s exploration operations; (xxi) fluctuations in currency markets; (xxii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xxiii) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xxiv) Eagle’s ability to complete and successfully integrate acquisitions; (xxv) increased competition in the mining industry for properties and equipment; (xxvi) limited supply of materials and supply chain disruptions; (xxvii) relations with and claims by indigenous populations; (xxviii) relations with and claims by local communities and non-governmental organizations; and (xxix) the risk that the proposed Series A Preferred Stock Investment into New Eagle may not be completed, or that other capital needed by the combined company may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither SVII, Eagle, nor New Eagle presently know or that SVII, Eagle, and New Eagle currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this document and the other risks and uncertainties described in the “Risk Factors” section of the 2024 Form 10-K, the risks described or to be described in the Registration Statement on Form S-4, the Proxy Statement (each as defined below), and any amendments or supplements thereto, and those discussed and identified in filings made with the Securities and Exchange Commission (the “SEC”) by SVII, New Eagle or Eagle from time to time. Eagle, New Eagle, and SVII caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this document speak only as of the date of this document. Neither Eagle, SVII, nor New Eagle undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that New Eagle, Eagle or SVII will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the proposed Business Combination, in SVII’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.

Additional Information and Where to Find It

In connection with the proposed Business Combination, New Eagle filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 (File No. 333-290631) (the “Registration Statement”), which includes a preliminary prospectus with respect to New Eagle’s securities to be issued in connection with the Business Combination and a preliminary proxy statement to be distributed to holders of SVII’s Class A Ordinary Shares in connection with SVII’s solicitation of proxies for the vote by SVII’s shareholders with respect to the Business Combination and other matters described in the Registration Statement (collectively, the “Proxy Statement”). After the SEC declares the Registration Statement effective, SVII plans to file the definitive Proxy Statement with the SEC and to mail copies to shareholders of SVII as of a record date to be established for voting on the Business Combination and other matters described in the Registration Statement. This press release does not contain all of the information that should be considered concerning the Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that SVII, New Eagle or Eagle may file with the SEC. Before making any investment or voting decision, investors and security holders of SVII, New Eagle and Eagle are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Business Combination as they become available because they will contain important information about New Eagle, Eagle, SVII and the Business Combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by SVII, New Eagle or Eagle through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by SVII may be obtained free of charge from SVII’s website at www.sv-ac.com or by directing a request to Spring Valley Acquisition Corp. II, Attn: Corporate Secretary, 2100 McKinney Avenue, Suite 1675, Dallas, Texas 75201. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this document.

Participants in the Solicitation

New Eagle, Eagle, SVII and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from SVII’s shareholders in connection with the Business Combination. For more information about the names, affiliations and interests of SVII’s directors and executive officers, please refer to SVII’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on April 11, 2025 (the “2024 Form 10-K”) and the Registration Statement, Proxy Statement and other relevant materials filed or to be filed with the SEC in connection with the Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of SVII’s shareholders generally, will be included in the Registration Statement and the Proxy Statement. Shareholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, carefully, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This document shall not constitute a “solicitation” as defined in Section 14 of the Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

MINING.COM: “We’re in project Manhattan 2.0”, uranium CEO says

The Aurora deposit in Oregon. Image from Eagle Energy Metals.

This week, when US Energy Secretary Chris Wright said the US should look to boost its strategic uranium reserve to buffer against Russian supplies and increase confidence in the long-term prospects of nuclear power generation, it shone a spotlight on the impending uranium supply deficit.

Uranium is a crucial source of reliable baseload power as nuclear energy, and the US requires an estimated 32 million pounds of uranium annually for its current nuclear reactors. Energy Fuels’ White Mesa Mill in Utah is the only producing mill in the US.

Click to read full article

Source:  https://www.mining.com/were-in-project-manhattan-2-0-uranium-ceo-says/

About Eagle Nuclear Energy Corp.

Eagle Nuclear Energy Corp. (NASDAQ: NUCL) is an America-first nuclear energy company that describes itself as the nation’s only integrated nuclear platform. The company’s core asset is the Aurora Uranium Project in southeastern Oregon — a near-surface, conventionally mined deposit hosting a SK1300-compliant resource of 32.75 million pounds Indicated and 4.98 million pounds Inferred uranium, making it the largest conventional uranium deposit in the United States. With over 500 drill holes completed at Aurora, and the adjacent Cordex property offering additional scalable resource potential, Eagle has assembled a uranium asset base of genuine national significance at a time when domestic uranium supply is a stated U.S. national security priority.

Beyond its uranium assets, Eagle Nuclear is simultaneously developing proprietary modular reactor technology — specifically, the Small Long-Life Modular (SLLIM) and Very Small Long-Life Modular (VSLLIM) reactor designs — intended for industrial and grid-scale power applications. This dual-track strategy creates a vertically integrated business model encompassing uranium extraction, domestic fuel production, and reactor deployment. The company’s March 2026 NASDAQ listing, engagement of SLR International Corporation to lead Aurora permitting, and membership in the Uranium Producers of America signal a decisive transition from early-stage exploration to active development and commercial execution.

Eagle Nuclear’s mission is to power America from the ground to the grid. The company’s strategic thesis rests on vertical integration across the nuclear fuel cycle — controlling uranium in the ground at Aurora, extracting it domestically, and ultimately deploying electricity through its own SMR technology. This positions Eagle as fundamentally different from a conventional uranium explorer: it is building toward a complete nuclear energy platform spanning resource ownership, fuel supply, and power generation. Management frames this as a direct response to two structural U.S. energy vulnerabilities: foreign dependence on uranium enrichment and grid fragility in the face of surging electricity demand from AI data centers, cryptocurrency, and industrial electrification. The global SMR market is projected to grow from approximately US$3.4 billion in 2024 to over US$18 billion by 2030, and Eagle’s proprietary SLLIM and VSLLIM designs — backed by a Head of Licensing with 27 years of nuclear sector experience — position the company within this rapidly expanding market (eaglenuclear.com).

Aurora Uranium Project: Scale and Strategic Importance

The Aurora Uranium Project is the cornerstone of Eagle Nuclear’s value proposition. With a SK1300-compliant Indicated Resource of 32.75 million pounds and Inferred Resource of 4.98 million pounds of U₃O₈, it is the largest conventional uranium deposit in the United States. The deposit features near-surface mineralization, low stripping ratios, and a well-understood geometry supported by over 500 drill holes — an unusually high level of geological confidence for a pre-production asset. The adjacent Cordex deposit, with approximately 100 holes drilled, provides an additional resource expansion pathway as data digitisation progresses. Aurora’s engagement of SLR International Corporation in March 2026 to lead environmental permitting marks the most critical near-term execution milestone, as permitting represents the primary de-risking hurdle between exploration and eventual production (eaglenuclear.com News, March 18, 2026).

The Uranium Supply Deficit: A Structural Tailwind

The macroeconomic backdrop for Eagle Nuclear’s uranium assets is strongly supportive. Global uranium demand is expected to increase materially over the next decade as nations accelerate nuclear buildouts to address energy security and net-zero commitments. Analysts project uranium spot prices approaching US$92 per pound as tightening primary supply — including Kazatomprom output constraints, geopolitical restrictions on Russian supply, and years of underinvestment — converges with accelerating reactor demand (Critical Minerals Institute, March 2026). The U.S. Prohibiting Russian Uranium Imports Act, passed in 2024, eliminated approximately 24% of U.S. enriched uranium supply overnight, creating an acute domestic sourcing imperative that places a company controlling the nation’s largest conventional uranium deposit in an exceptionally advantaged commercial position.

Leadership, Listing, and Commercial Momentum

Eagle Nuclear completed its NASDAQ listing and rang the Opening Bell in March 2026 — providing institutional investor access that few uranium development companies at this stage have achieved. The leadership team is notably experienced: CEO Mark Mukhija brings 16+ years at Teck Resources, Barrick, BHP, and TransAlta; Director Rob Kaplan previously led the Spring Valley Acquisition Corp. II merger with Eagle Nuclear and executed NuScale Power’s NASDAQ listing, providing direct precedent experience for a nuclear SMR company’s path to public markets; and the company became a member of the Uranium Producers of America in March 2026, positioning it favourably for government offtake discussions and defence-related procurement opportunities as the domestic nuclear supply chain buildout accelerates.

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