As Washington Races to Rebuild Domestic Uranium Supply, One Nasdaq Company Is Lining Up the Team at American's Largest Conventional, Measured and Indicated Uranium Deposit

Issued on behalf of Eagle Nuclear Energy Corp.

Eagle Nuclear Energy Corp. (NASDAQ: NUCL) engaged a new project-management consultant and expanded two existing technical agreements, putting all major operational contractors in place for its planned Pre-Feasibility Study work program at the Aurora Uranium Project, with the PFS targeted for the second half of 2027.

RENO, Nev., July 8, 2026 /CNW/ -- USA News Group News Commentary, The United States is racing to rebuild a domestic uranium supply chain it spent decades letting wither, and the pressure is only building as nuclear power returns to the center of the country's energy strategy. That national push runs straight through the companies holding American uranium in the ground. Against that backdrop, Eagle Nuclear Energy Corp. (NASDAQ: NUCL), a next-generation nuclear energy company that owns what it describes as the largest conventional, measured and indicated uranium deposit in the United States, has taken a step toward advancing its flagship asset toward drilling and pre-feasibility, assembling the full slate of contractors it needs to begin the work program at the project ahead of a planned Pre-Feasibility Study.

Key Takeaways

• Eagle Nuclear Energy Corp. (NASDAQ: NUCL) announced the engagement of Yukuskokon Professional Services and the expansion of existing agreements with BBA USA Inc. and SLR International Corporation, completing the roster of major operational contractors for its planned Pre-Feasibility Study (PFS)-related work program at the Aurora Uranium Project.
• The Company said it is now awaiting permit approvals from state-level regulators in Oregon before commencing drilling at Aurora, which sits along the Oregon-Nevada border, with the PFS expected to be completed in the second half of 2027.
• The Aurora deposit hosts 32.75 million pounds Indicated and 4.98 million pounds Inferred (SK-1300 TRS) of near-surface uranium resource, with the adjacent Cordex deposit offering what the Company believes is potential to expand the overall resource inventory.
• Aurora anchors Eagle's strategy to build an integrated nuclear platform combining domestic uranium resources with access to certain small modular reactor (SMR) technology, positioning the Company within the U.S. push to strengthen domestic fuel supply chains.
• Investors tracking uranium and advanced-nuclear development follow public names including Uranium Energy Corp (NYSE American: UEC), Energy Fuels (NYSE American: UUUU), Denison Mines (NYSE American: DNN), and Oklo (NYSE: OKLO), each distinct, and none a proxy for Eagle Nuclear.

Assembling the Team

The substance of the announcement is that Eagle has now put in place the full set of specialist contractors required to execute a work program, a necessary precursor to the technical study that will define the project's economics. The Company engaged Yukuskokon Professional Services, LLC in a new collaboration, and expanded existing agreements with BBA USA Inc. and SLR International Corporation. Pending the required regulatory approvals, Eagle envisions all three playing central roles in the drill program at Aurora as it advances toward the planned Pre-Feasibility Study.

Each contractor carries a defined mandate. Yukuskokon will work alongside the Eagle team to provide turnkey project management and geological support for the drill program. BBA will handle real-time geological modeling, drill-hole targeting, and resource-consulting support, along with preparing standard operating procedures ahead of the program's start. SLR will provide real-time support on hydrogeological and geochemical objectives, including installing groundwater monitoring wells, well development, slug testing, collecting samples for geochemical characterization, groundwater monitoring, and hydrogeological modeling. There is a continuity angle worth noting: BBA previously completed Aurora's S-K 1300 Mineral Resource Estimate and authored the related Technical Report Summary in August 2025, so it already knows the deposit.

"With the engagement of Yukuskokon, putting key operational contractors in place for an efficient execution of our proposed PFS-related work program," said Vishal Gupta, Eagle's VP of Operations. "We are now waiting for permit approvals from the state-level regulators in Oregon before commencing drilling activities at Aurora. Yukuskokon, BBA and SLR bring the expertise needed to execute our drill program responsibly and proficiently, while preparing Eagle for the upcoming Pre-Feasibility Study. The advancement of Aurora remains a key priority as the United States looks to strengthen its domestic uranium supply chain and today's announcement moves us closer to this goal."

What Comes Next: Permits, Then Drilling

The announcement makes clear what the gating item now is: permitting. Eagle has said it is awaiting approvals from state-level regulators in Oregon before it can begin drilling at Aurora. That sequencing matters for how investors should read the news. Lining up the contractors is the step a company controls directly; the permit timeline sits with regulators, and drilling cannot start until those approvals are in hand. The Company has framed the contractor engagements as readiness, so that once permits arrive, execution can move efficiently.

The drill program itself feeds the larger objective: a Pre-Feasibility Study, which Eagle expects to complete in the second half of 2027. A PFS is an intermediate technical and economic study that assesses whether a deposit can be developed into a viable mine, sitting between early resource definition and a full feasibility study. Reaching it requires the field data the drill program is designed to gather. None of this is guaranteed, drill results, study outcomes, permitting, and financing all carry real risk, and the timeline could shift, but the roadmap from here is clearly defined: permits, then drilling, then the study.

The Asset at the Center

What gives the story its weight is the underlying resource. Eagle describes Aurora, located in southeastern Oregon along the Oregon-Nevada border, as part of the largest conventional, measured and indicated uranium deposit in the United States. The Aurora deposit hosts 32.75 million pounds Indicated and 4.98 million pounds Inferred of near-surface uranium resource, reported under the SK-1300 standard, and the adjacent Cordex deposit offers what the Company believes is potential to expand the overall resource inventory further. Near-surface resources can carry advantages for eventual development, and the scale of the measured-and-indicated base is the foundation the entire investment case rests on.

That resource is also the anchor of a broader ambition. Eagle is not positioning itself solely as a uranium miner; it describes a strategy to build an integrated nuclear energy platform that combines domestic uranium resources with access to certain small modular reactor (SMR) technology. The thesis is that owning both a sizeable domestic uranium asset and a path into advanced reactor technology positions the Company to become a strategic source of fuel for the next generation of nuclear energy. That is an ambitious, multi-part vision, and the SMR component in particular carries its own substantial technical, licensing, and commercialization risks, but it frames Aurora as more than a standalone mine in the Company's telling.

Why the Timing Matters

The backdrop to all of this is a national one. The United States has leaned back into nuclear power as it confronts surging electricity demand, from electrification and industrial growth to the enormous power appetite of AI data centers, and that revival has exposed how dependent the country has become on foreign sources of uranium and fuel. Policymakers have made rebuilding a domestic uranium supply chain an explicit priority, and companies holding American uranium in the ground sit squarely in that policy tailwind. Eagle has tied its own progress directly to that objective, casting Aurora's advancement as a contribution to domestic supply security.

For investors, that context is the opportunity and the caution at once. The policy momentum behind domestic uranium is real and has drawn fresh capital and attention to the sector. But Eagle remains a development-stage company advancing a project that is years from any potential production, dependent on permits it does not yet hold, studies it has not yet completed, and financing it will need to secure. The national tailwind does not remove those hurdles; it simply raises the stakes of clearing them.

The Public Companies in Uranium and Advanced Nuclear

Eagle Nuclear is a development-stage company and is not directly comparable to the names below. These comparisons are for industry context only; each company pursues a different asset base and business model, several are larger, revenue-generating, or further along, and none is a proxy for Eagle Nuclear or implies any partnership or comparable performance. The uranium and nuclear equity group has been volatile, and these names have not moved in lockstep.

Uranium Energy Corp (NYSE American: UEC) is a U.S.-focused uranium company advancing in-situ recovery projects in Texas and Wyoming, with additional assets elsewhere in North America. As one of the more prominent domestic-focused uranium names, UEC illustrates the U.S.-supply-chain thesis that Eagle's Aurora project also speaks to.

Energy Fuels (NYSE American: UUUU) is among the largest U.S. uranium companies by licensed and potential production capacity, and has been expanding its milling and processing footprint. Energy Fuels offers a view of the producing, homegrown-supplier end of the domestic uranium market that development-stage peers are working toward.

Denison Mines (NYSE American: DNN) is a uranium development company advancing an in-situ recovery project in Canada's Athabasca Basin, one of the world's premier uranium districts. As a development-stage name defining a project through technical studies, Denison offers a comparison for the path Eagle is on, in a different jurisdiction.

Oklo (NYSE: OKLO) is an advanced-reactor developer working to design, build, and operate small fast reactors and to supply fuel, positioning it in the SMR and advanced-nuclear segment. Oklo is relevant to the advanced-reactor side of Eagle's integrated-platform ambition, though it is a pre-commercial company pursuing a different model.

The Bottom Line

Assembling a drill team is a preparatory step, not a milestone that changes a project's fundamentals on its own, and Eagle Nuclear remains a development-stage company whose Aurora project depends on permits it is still awaiting, a drill program it has not yet started, a Pre-Feasibility Study not expected until the second half of 2027, and financing still to come, each carrying real risk. But the step is a logical one on a clearly defined path, and it lands against a powerful backdrop: a national drive to rebuild domestic uranium supply, and an asset Eagle describes as the largest measured-and-indicated uranium deposit in the country. For investors tracking how American uranium projects advance toward development, Eagle Nuclear's progress at Aurora is a concrete data point, with the Oregon permit approvals, the start of drilling, and the 2027 Pre-Feasibility Study the markers worth watching from here.

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CONTACT
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SOURCES

[1] Eagle Nuclear Energy Corp., "Eagle Nuclear Energy Advances Aurora Toward Pre-Feasibility with Key Technical Engagements" (news release, RENO, Nev., July 8, 2026; engagements of Yukuskokon, BBA, and SLR; PFS-related drill program; PFS expected H2 2027; Aurora 32.75Mlbs Indicated / 4.98Mlbs Inferred, SK-1300 TRS).

[2] Uranium Energy Corp (NYSE American: UEC), Energy Fuels Inc. (NYSE American: UUUU), Denison Mines Corp. (NYSE American: DNN), and Oklo Inc. (NYSE: OKLO), corporate disclosures and market data, 2026.

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CAUTIONARY NOTE AND FORWARD-LOOKING STATEMENTS: This publication contains forward-looking statements, including statements regarding the engagements of, and services to be provided by, Yukuskokon, BBA, and SLR; the planned PFS-related drill program at the Aurora Uranium Project and the receipt of required Oregon state-level and other regulatory permits and approvals; the timing and completion of the Pre-Feasibility Study, expected in the second half of 2027; the Aurora and Cordex resource estimates and the potential to expand the resource inventory; the technical feasibility, validation, regulatory pathway, and future development of Eagle's SMR program; and the Company's strategy to build an integrated nuclear energy platform supporting domestic uranium supply. Forward-looking statements are based on current expectations and assumptions and are subject to known and unknown risks and uncertainties, many beyond the Company's control, including the effects of Eagle's previously completed business combination with Spring Valley Acquisition Corp. II; the ability to obtain and maintain permits and licenses necessary for exploration, drilling, and development; the speculative nature of mineral exploration and development and the inability to determine production and cost estimates with certainty; the ability to validate, license, finance, construct, commercialize, or deploy SMR technology on anticipated timelines or at all; fluctuations in uranium and other commodity prices; the ability to maintain the listing of Eagle's securities on Nasdaq; the volatility of Eagle's securities; the need for additional capital, which may not be available on favorable terms or at all; environmental, regulatory, and community risks; 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 in other filings made with the SEC by Eagle from time to time, available at www.sec.gov. Actual results could differ materially from those projected. Except as required by law, Eagle undertakes no obligation to update any forward-looking statement. References to other companies are based on those companies' public disclosures, are provided for industry context only, and do not imply any partnership, endorsement, affiliation, or comparable performance.