Eagle Nuclear Energy Advances Aurora Project with Completion of Key Environmental and Site Readiness Milestones
RENO, Nev., May 28, 2026 (GLOBE NEWSWIRE) -- Eagle Nuclear Energy Corp. ("Eagle" or the "Company") (NASDAQ:NUCL), a next-generation nuclear energy company that owns the largest conventional, measured and indicated uranium deposit in the United States, today announced the completion of several key environmental and site-readiness initiatives at its flagship Aurora Uranium Project ("Aurora" or the "Project") located along the Oregon–Nevada border.
This news follows Eagle's previously announced commencement of environmental baseline studies at Aurora earlier this month and reflects continued progress toward the Company's planned 27,000-foot Pre-Feasibility Study ("PFS") related drill program. These milestones are expected to support permitting, environmental review, mine planning, and the broader advancement of the Project.
The completed initiatives include:
- Installation of the meteorological ("MET") station
- Completion of the wetland delineation study
- Completion of the cultural and archeological survey
Eagle's VP of Operations, Vishal Gupta, stated, "Advancing Aurora responsibly and efficiently remains a key priority as the United States looks to strengthen its domestic uranium supply chain. The completion of these studies and site initiatives marks important progress in advancing the Project through the environmental review and permitting process. We remain focused on progressing Aurora methodically and responsibly while continuing to generate the critical data needed to support future development activities."
Additional Details Regarding Environmental Baseline Studies
MET station: Eagle, through its lead permitting manager, SLR International Corporation ("SLR"), completed the permitting, procurement, and installation of a 10-meter-high MET station at Aurora. The station is expected to be fully operational by June 1, 2026, and will support air-quality permitting and related environmental studies by collecting ambient weather and atmospheric data, including wind speed and direction, temperature, humidity, barometric pressure, and solar radiation.
Wetland delineation study: On behalf of Eagle, SLR also completed a detailed delineation of wetlands and other jurisdictional aquatic resources within the specific areas at Aurora covered by the planned drill program. Field teams identified and mapped wetland boundaries, streams, and other waters, and assessed their functional characteristics, hydrologic connectivity, and ecological value. The resulting data is expected to support permitting compliance efforts with the U.S. Army Corps of Engineers and the Oregon Department of State Lands, while also informing project planning and environmental management strategies.
Cultural and archeological study: Eagle engaged Native-X, Inc. ("Native-X"), a full-service archeological consulting firm that works extensively throughout Oregon, Nevada, and California, to conduct a comprehensive evaluation of the Project area for historical properties and cultural resources. The results from these studies will support future engagement with regulatory agencies and Tribal Nations and inform project design to avoid or mitigate potential impacts as Aurora advances through future permitting and environmental review processes.
These completed initiatives build upon the broader environmental baseline studies program Eagle announced earlier this month, which includes hydrology, hydrogeology, groundwater quality, flora and fauna, geochemistry, and other environmental workstreams designed to support the responsible development of Aurora.
Aurora anchors Eagle's long-term strategy to develop an integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology. As global demand for nuclear power accelerates and the U.S. looks to strengthen domestic fuel supply chains, the Company believes Aurora is positioned to become a strategic source of uranium for the next generation of nuclear energy.
About Eagle Nuclear Energy Corp.
Eagle Nuclear Energy Corp. is a next-generation nuclear energy company that combines domestic uranium exploration with exclusive Small Modular Reactor (SMR) technology. The Company owns the largest conventional, measured and indicated uranium deposit in the United States, located in southeastern Oregon. This includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (SK-1300 TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which the Company believes offers significant potential to expand the project's overall resource inventory. BBA USA Inc. 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. 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 environmental and site-readiness initiatives at the Aurora Project supporting permitting, environmental review, mine planning, and the broader advancement of the Project, the PFS-related drill program; the outlook for Eagle's business; the ability to execute Eagle's strategies and reach permitting and operational milestones timely or at all; projected and estimated financial performance; anticipated industry trends; the future price of minerals; future capital expenditures; success of exploration activities; mining or processing issues; government regulation of mining operations; and environmental risks; as well as any information concerning possible or assumed future results of operations of Eagle. The forward-looking statements are based on the current expectations of the management teams of Eagle, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) market risks; (ii) the effect of the Company's previously completed business combination with Spring Valley Acquisition Corp. II (the "Business Combination") on Eagle's business relationships, performance, and business generally; (iii) risks that the Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the Business Combination; (iv) the outcome of any legal proceedings that may be instituted against Eagle related to the Business Combination; (v) failure to realize the anticipated benefits of the Business Combination; (vi) the inability to maintain the listing of Eagle's securities on Nasdaq Capital Market or a comparable exchange; (vii) the risk that the price of Eagle's securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business; (viii) fluctuations in spot and forward markets for 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-1 initially filed by Eagle on March 19, 2026, 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
