Issued on behalf of Eagle Nuclear Energy Corp.
Eagle Nuclear Energy (NASDAQ: NUCL) Confirms July 2026 Drill Program at Aurora as Uranium Hits $101/lb and SMR Demand Accelerates
Companies mentioned in this commentary include: Eagle Nuclear Energy Corp. (NASDAQ: NUCL), Cameco Corporation (NYSE: CCJ), Uranium Energy Corp (NYSE American: UEC), NexGen Energy Ltd. (NYSE: NXE), Centrus Energy Corp. (NYSE American: LEU).
Key Takeaways:
· Eagle Nuclear Energy (NASDAQ: NUCL) owns the largest conventional, measured and indicated uranium deposit in the United States — the Aurora Project in southeastern Oregon — with 32.75 Mlbs Indicated and 4.98 Mlbs Inferred U3O8 (SK-1300 TRS).
· The company has formally filed its drill permit applications with both the U.S. Bureau of Land Management and Oregon DOGAMI, and engaged Harris Exploration Drilling for a 47-hole, 27,000-foot diamond drill program scheduled to commence in July 2026 — designed to advance Aurora toward a Pre-Feasibility Study targeted for 2H 2027.
· Eagle commenced trading on Nasdaq on February 25, 2026 under the ticker “NUCL” following completion of its business combination with Spring Valley Acquisition Corp. II, and reported a $31.3 million cash balance with no debt as of February 28, 2026.
· Uranium spot prices hit a year-to-date high of $101.41/lb on January 29, 2026, with the long-term contract price climbing to $93/lb — its highest level since 2008 — as utilities scramble to cover record “uncovered requirements.”
· Eagle’s strategy combines domestic uranium with exclusive Small Modular Reactor (SMR) technology, positioning the company at the center of two of the most powerful policy tailwinds in U.S. energy: the restoration of a domestic nuclear fuel cycle and the rapid build-out of next-generation reactors.
NEW YORK, April 14, 2026 — Baystreet.ca News Commentary —
The U.S. has spent four decades letting its uranium supply chain wither while every other major nuclear nation built theirs up. That’s now changing — fast. The Trump administration’s executive orders on nuclear energy, the U.S. Department of Energy’s $2.7 billion in fresh enrichment contracts, and a $93/lb long-term uranium contract price (the highest since 2008) have collectively rewritten the economics of domestic uranium development in less than 18 months.
Into that backdrop steps Eagle Nuclear Energy Corp. (NASDAQ: NUCL), which today provided its first quarter 2026 corporate update — and confirmed that its 47-hole, 27,000-foot diamond drill program at the Aurora Project in southeastern Oregon will commence in July 2026.
According to the company, Aurora is the largest conventional, measured and indicated uranium deposit in the United States, hosting 32.75 million pounds Indicated and 4.98 million pounds Inferred U3O8 under the SK-1300 Technical Report Summary, with the adjacent Cordex deposit offering significant expansion potential.
CEO Mark Mukhija framed the moment in the announcement: “During the first quarter, Eagle made significant progress as we completed our business combination with Spring Valley Acquisition Corp. II, commenced trading on the Nasdaq, and simultaneously achieved a number of key operational milestones to advance our flagship Aurora Uranium Project site… The 47 diamond drill hole program, collectively totaling 27,000 ft of drilling, advances one of the largest undeveloped uranium deposits in the U.S. toward a Pre-Feasibility Study, which is expected to be completed in the second half of 2027.”
The company also confirmed it has engaged Harris Exploration Drilling & Associates Inc. as the drill rig contractor and SLR International Corporation to lead permitting — with applications now formally filed with both the federal Bureau of Land Management and the Oregon Department of Geology and Mineral Industries (DOGAMI).
Eagle’s broader strategy is what differentiates it from other developers in the space: the company combines domestic uranium exploration with exclusive SMR technology, building toward an integrated nuclear platform rather than a pure mining play. With $31.3 million in cash and no debt as of February 28, 2026, the company is funded for its near-term execution roadmap.
CONTINUED… Read the full press release for Eagle Nuclear Energy’s First Quarter 2026 Corporate Update by clicking here.
In other industry developments:
Cameco Corporation (NYSE: CCJ) remains the sector’s blue-chip anchor — a tier-one Athabasca Basin producer with deep exposure across the entire fuel cycle through its Westinghouse partnership and conversion businesses. Recent commentary from Cameco’s president and COO Grant Isaac noted that the volume of utility “uncovered requirements” — future uranium demand not yet under contract — has reached record levels. Speaking at the PDAC convention in March 2026, Isaac said: “The forward demand that has yet to come to the market has never been bigger.” For investors looking for diversified, lower-volatility exposure to the uranium thesis, Cameco continues to be the reference name.
Uranium Energy Corp (NYSE American: UEC) is the leading U.S.-focused in-situ recovery (ISR) producer, having transitioned from developer to producer in fiscal 2025 with the successful restart of the Christensen Ranch ISR mine in Wyoming’s Powder River Basin. Production ramp-ups are expected to continue through 2026, alongside the anticipated startup of the Burke Hollow project in Texas, driving higher output into fiscal 2026. UEC’s emphasis on lower-capex ISR mining and a building U.S. footprint positions it directly in line with the domestic supply-security theme that’s driving policy and capital flows.
NexGen Energy Ltd. (NYSE: NXE) is one of the most-watched uranium developer names globally, focused on its Rook I project (Arrow deposit) in Saskatchewan’s Athabasca Basin — widely described as one of the most significant undeveloped uranium deposits in the world by both scale and grade. While construction risk and timeline slippage remain in the frame for any pre-production developer, NXE tends to benefit disproportionately from uranium sentiment because of its size and visibility. For investors seeking world-class developer torque rather than near-term cash flow, it remains a benchmark comparison point.
Centrus Energy Corp. (NYSE American: LEU) sits on the enrichment side of the fuel cycle rather than the mining side, but plays a critical role in the U.S. nuclear supply chain restoration story. Centrus is the only U.S.-based enricher manufacturing centrifuges and related equipment exclusively with American technology — a meaningful distinction in a market where nearly all global enrichment capacity is controlled by foreign, state-owned enterprises. The company has raised more than $1.2 billion through two convertible note offerings and secured contingent purchase commitments of more than $2 billion from utility customers, alongside an MOU with Korea Hydro & Nuclear Power and POSCO International. For investors playing the broader nuclear fuel-cycle thesis, Centrus offers exposure to the enrichment bottleneck downstream of where Eagle, Cameco, and UEC operate.
The setup across the sector is consistent: spot uranium has retraced from its January 2026 high of $101.41/lb to the mid-$80s amid geopolitical volatility, but the long-term contract price keeps marching higher — a signal that utilities are moving past the spot-market noise and locking in supply they can’t afford to be without. The U.S. cannot meet its projected nuclear fuel demand from existing domestic sources, and the political environment now actively rewards companies trying to fix that.
For Eagle Nuclear, the next 90 days will be about completing permits, mobilizing Harris’s drill rigs, and getting steel into the ground at Aurora. The company has now told the market exactly what it intends to do, who’s doing it, and when. The drills are scheduled to turn in July.
For the latest updates, visit www.eaglenuclear.com and follow Eagle Nuclear Energy on the Nasdaq under the symbol NUCL.
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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that the business combination with Spring Valley Acquisition Corp. II will not produce its anticipated benefits; that Eagle Nuclear Energy may be unable to maintain its Nasdaq listing; that actual results may differ materially from those expressed or implied in any forward-looking statement made in this release; that legal proceedings, regulatory developments, market volatility, and commodity price fluctuations (including for uranium) may adversely affect Eagle Nuclear Energy’s business and the price of its securities; that the Company may be unable to obtain or renew permits required for the operation, exploration, and development of the Aurora Project on its targeted timeline or at all; risks associated with the speculative nature of mineral exploration and development; and the inability to determine, with certainty, production and cost estimates. Investors are encouraged to review Eagle Nuclear Energy’s filings with the U.S. Securities and Exchange Commission, including its registration statement on Form S-4 initially filed by the Company on September 30, 2025, and the definitive proxy statement / prospectus contained therein, and any subsequent filings, available at www.sec.gov, for additional information regarding the risks and uncertainties facing the Company.
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