The Conversation (0)
Issued on behalf of Eagle Nuclear Energy Corp.
Companies mentioned in this article: Eagle Nuclear Energy Corp. (NASDAQ: NUCL), Cameco Corp. (NYSE: CCJ), Uranium Energy Corp. (NYSE: UEC), NuScale Power (NYSE: SMR), NexGen Energy (NYSE: NXE)
Key Takeaways:
• The United States imports roughly 95% of the uranium it consumes — a dependency the federal government has now classified as a national security vulnerability by adding uranium to the Critical Minerals List.
• Eagle Nuclear Energy Corp. (NASDAQ: NUCL) owns the Aurora Uranium Project, the largest conventional, measured and indicated uranium deposit in the United States at 32.75 million pounds of indicated uranium and 4.98 million pounds of inferred (SK1300 compliant), and has just engaged world-renowned permitting firm SLR International Corporation to lead the project toward potential development.
• Eagle is not building a conventional mining company — its strategy combines domestic uranium resources with exclusive Small Modular Reactor technology to create a vertically integrated nuclear energy platform.
• With spot uranium approaching $92 per pound, 65 reactors under construction worldwide, and the U.S. Government committing $80 billion to nuclear deployment through Cameco and Westinghouse, the supply-demand imbalance is accelerating.
VANCOUVER, British Columbia, March 24, 2026 (GLOBE NEWSWIRE) -- USANewsGroup.com News Commentary — Here is something that should bother every investor paying attention to the energy transition: the United States operates the largest fleet of nuclear reactors on earth — 93 of them — and it cannot fuel a single one with domestically sourced uranium[1].
The United States now imports roughly 95% of the uranium that fuels its nuclear power. Much of that supply comes from Kazakhstan, Russia, and Uzbekistan. According to the White House, some of it has passed through entities with ties to Rosatom, the Russian state nuclear corporation. In an era where supply chain sovereignty is a matter of national security — where the federal government has banned Chinese-origin rare earth materials from weapons systems by 2027 and launched a $12 billion strategic minerals stockpile — America's uranium dependency is one of the most conspicuous vulnerabilities left on the board[2].
The market knows it. Spot uranium is approaching $92 per pound. Approximately 65 new reactors are under construction globally. AI-driven data center demand is forcing utilities to rethink their baseload power assumptions. And in Washington, bipartisan consensus has coalesced around a simple idea: if the United States is going to lead a nuclear renaissance, it needs to own the fuel[3].
That's the backdrop. Now here's the question that matters for investors: who actually has the uranium in the ground, in the United States, at a scale that matters?
The answer, by the numbers, could be Eagle Nuclear Energy Corp. (NASDAQ: NUCL).
Eagle owns the Aurora Uranium Project, located along the Oregon–Nevada border. Aurora is the largest conventional, measured and indicated uranium deposit in the United States — 32.75 million pounds indicated and 4.98 million pounds inferred under the SK-1300 technical standard. That's not a preliminary estimate from early-stage exploration. That's a defined, measured resource sitting in American soil.
And this week, Eagle took a step towards shifting the Aurora story from "resource" to "development." The company announced it has engaged SLR International Corporation — a renowned global mining advisory firms — as the lead permitting manager for Aurora. SLR isn't a small consultancy. The firm provides technical, engineering, and environmental services to resource projects across the globe. More importantly, the team assigned to Eagle has direct, relevant experience with the Bureau of Land Management and Oregon's Department of Geology and Mineral Industries in Malheur County — the same county where Aurora sits.
That local experience matters. SLR's team successfully navigated permitting for Paramount Gold's Grassy Mountain project and Jindalee Lithium's McDermitt project in the same jurisdiction. McDermitt was fast-tracked under the federal government's FAST-41 initiative, a designation that accelerates environmental reviews for critical infrastructure projects. Eagle's management is now working with SLR to get Aurora on the FAST-41 list as well.
"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," said Vishal Gupta, Eagle's VP of Operations. "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."
SLR will now serve as program manager for all environmental permitting at Aurora — baseline studies, exploration permits, drill programs, metallurgical work, hydrogeological assessments. The goal is a Pre-Feasibility Study by late 2027. But the permitting engagement is more than a technical milestone. It's the moment Aurora begins its transition from a deposit on a map to a project with a development timeline.
And Eagle's ambition extends well beyond mining. The company is building what it calls a vertically integrated nuclear energy platform — combining domestic uranium resources with exclusive Small Modular Reactor technology. In plain terms: Eagle doesn't just want to dig up the fuel. It wants to own the pathway from the ground to the grid. In a sector where the companies that mine uranium and the companies that build reactors have traditionally operated in separate universes, Eagle is attempting to bridge them under one roof.
Consider the asymmetry. Cameco (NYSE: CCJ) commands a multi-billion dollar market capitalization. NexGen Energy (NYSE: NXE) just raised C$800 million for a single project. NuScale Power (NYSE: SMR) trades on its reactor design alone. Eagle is seeking to advance advancing the largest conventional U.S. uranium deposit with a NASDAQ listing, a world-class permitting partner, and a strategy that spans both sides of the nuclear value chain. That gap between what Eagle owns and where it trades is the kind of disconnect that, in resource markets, doesn't tend to last.
The broader sector is moving fast. Cameco Corp. (NYSE: CCJ) recently announced that it has entered a strategic partnership with the U.S. Government alongside Brookfield, committing at least $80 billion to accelerate deployment of Westinghouse nuclear reactor technologies and rebuild domestic supply chains. Cameco is extending Cigar Lake to 2036, ramping McArthur River toward 25 million pounds of annual capacity, and projecting 55% earnings growth in fiscal 2026. When the world's second-largest uranium producer is scaling this aggressively, it supports that the demand signal is real.
Uranium Energy Corp. (NYSE: UEC) has announced that it has crossed the line from developer to producer, restarting the Christensen Ranch ISR mine in Wyoming and acquiring Rio Tinto's Sweetwater mill to expand licensed capacity to 12.1 million pounds annually — making it the largest U.S. uranium company by potential production. NuScale Power (NYSE: SMR) has announced that it is partnering with Oak Ridge National Laboratory on AI-enabled reactor design and advancing what could be the largest nuclear deployment in a generation through its TVA partnership. And NexGen Energy (NYSE: NXE) announced commencement of final regulatory hearings for its Rook I project in February 2026 — a deposit designed to produce 30 million pounds annually at under $10 per pound, with C$800 million raised to fund construction.
These are some of the companies defining the nuclear renaissance. Eagle Nuclear Energy is the one that owns one of the largest American uranium deposits and is just now beginning to unlock it.
The nuclear fuel supply chain is being rebuilt in real time. Governments are writing checks. Producers are scaling. Reactor developers are breaking ground. But all of it — every reactor, every SMR, every AI-powered data center that needs baseload nuclear power — will require uranium. And the country that needs it most has almost none of its own coming out of the ground. Eagle Nuclear Energy Corp. (NASDAQ: NUCL) is sitting on the largest conventional answer to that problem. The permitting team is in place. The development timeline is taking shape. And the market, so far, likely hasn't caught up.
Investor Contact: Investors@eaglenuclear.com | 775-335-2029
SOURCE: www.eaglenuclear.com
CONTACT:
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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. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. Forward-looking statements include, without limitation, expected benefits from Eagle's business combination with SVII; the outlook for Eagle's business; the viability of Eagle's mining claims and technologies; 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 team 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 outcome of any legal proceedings that may be instituted against Eagle related to its business combination; (iii) failure to realize the anticipated benefits of the business combination; (iv) the inability to maintain the listing of the Company's securities on Nasdaq Capital Market or a comparable exchange; (v) 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; and (vi) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity). The foregoing list is not exhaustive, and there may be additional risks that Eagle does not presently know or that Eagle currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this document and the other risks and uncertainties described in filings made with the SEC by Eagle from time to time, which are or will be accessible 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 document speak only as of the date of this document.
SOURCES:
1. U.S. Energy Information Administration, Uranium Marketing Annual Report — https://www.eia.gov/uranium/marketing/
2. The White House, Project Vault Strategic Minerals Stockpile — https://www.bloomberg.com/news/articles/2026-02-02/trump-launches-12-billion-minerals-stockpile-to-counter-china
3. CarbonCredits.com, Uranium Prices 2026: Supply Crunch and Rising Demand — https://carboncredits.com/uranium-prices-2026-supply-crunch-and-rising-demand-fuel-a-nuclear-bull-market/
