GLE Appoints President and Chief Commercial Officer

SASKATOON, Saskatchewan, June 14, 2021 (GLOBE NEWSWIRE) —

Highlights:

• James Dobchuk appointed because the President and Chief Business Officer of World Laser Enrichment LLC (GLE)
• Previously Govt Director at Cameco Inc. engaged in key US-based technique, company improvement, challenge administration, authorities and business relations actions, very nicely positioned to help GLE in its subsequent section of commercialization
• Present Chair of the Nuclear Power Institute’s Nuclear Gasoline Suppliers Committee, a Secretary of the Board of the Uranium Producers of America, and a member of the Govt Committee of Radiant Power Fund, LLC

Silex Methods Restricted (Silex) (ASX: SLX; OTCQX: SILXY) and Cameco Company (Cameco) (TSX: CCO; NYSE: CCJ) are happy to announce the appointment of James Dobchuk as President and Chief Business Officer of GLE, efficient June 15, 2021.

James has over 20 years of expertise in international uranium advertising and gross sales, together with seven years as President of Cameco’s US subsidiary, Cameco Inc., main the corporate’s worldwide gross sales and advertising efforts. Most lately, James served as an Govt Director liable for supporting Cameco’s US-focused business pursuits and directing its authorities affairs actions in Washington, DC. Together with his background and intensive expertise within the international nuclear gasoline markets, he’s nicely positioned to steer the all-important customer-facing aspect of GLE’s potential commercialization section.

“Following the profitable completion of the GLE restructure in January 2021, Silex and Cameco have centered on recruiting an govt workforce to steer GLE via its commercialization section,” stated Craig Roy, Silex Chair and Chair of the GLE Governing Board. “We’re delighted to have made the primary of those appointments, with James Dobchuk being chosen as GLE’s President and Chief Business Officer.

“James will lead GLE’s business and enterprise improvement actions and can characterize GLE with key authorities and business stakeholders. This contains driving GLE’s business alternatives, together with the Paducah challenge, and doubtlessly positioning GLE as a supplier of high-assay low-enriched uranium (HALEU) for the rising superior reactor and small modular reactor markets,” Mr. Roy stated.

“We’re very happy to have somebody with James’ huge expertise and experience within the nuclear vitality business step into this vital function,” stated Cameco President and CEO Tim Gitzel. “He’ll deliver a powerful business focus to GLE supported by his prolonged historical past in gross sales and advertising, enterprise improvement, worldwide commerce and authorities relations throughout this sector.

“GLE is the unique licensee of next-generation SILEX laser uranium enrichment expertise that we imagine has a vibrant future,” Mr. Gitzel stated. “The formidable local weather commitments being made by international locations and firms all over the world confirms that zero-carbon nuclear vitality is on an upward trajectory. Ought to this expertise efficiently proceed via improvement and into commercialization, we really feel now we have the fitting individual in place to assist it set up a powerful basis inside that rising market.”

“I’m excited to be entering into this function with GLE, an organization main the event of a unprecedented expertise that I really feel is simply starting to scratch the floor of its great potential,” stated James Dobchuk, GLE’s President and Chief Business Officer. “I’m proud to be a part of such an progressive, world-class workforce that’s dedicated to shifting this firm ahead, and I’m very eager to get to work.”

About World Laser Enrichment

The profitable completion of the GLE restructure occurred on January 31, 2021 following the conclusion of the US authorities approval course of. The transaction concerned the joint buy of GE-Hitachi’s (GEH) 76% curiosity in GLE by Silex and Cameco. Closing of the settlement resulted in Silex buying a 51% curiosity in GLE and Cameco growing its share from 24% to 49%, with the choice to achieve a majority curiosity of 75% possession.

The transaction included a website lease between GLE and GEH, which is able to allow GLE to finish the SILEX expertise commercialization program on the check loop facility in Wilmington, North Carolina. This program is anticipated to culminate with the full-scale demonstration of the SILEX uranium enrichment expertise on the Wilmington website.

The Paducah Uranium Manufacturing Venture (Paducah challenge)

Underpinning the Paducah challenge is the gross sales settlement between GLE and the US Division of Power (DOE), which supplies GLE with entry to giant stockpiles of depleted uranium tails inventories owned by DOE and positioned in Paducah, Kentucky. Topic to profitable commercialization of the SILEX expertise, the Paducah challenge represents an excellent path to market.

This chance is anticipated to contain GLE developing the proposed Paducah Laser Enrichment Facility (PLEF), using the SILEX expertise to counterpoint the DOE tails inventories, which have been saved within the type of depleted uranium hexafluoride. The potential for second stage processing of PLEF output, involving enrichment from natural-grade uranium to low-enriched uranium for at present’s typical nuclear reactor fleet and a further stage for manufacturing of HALEU gasoline for the next-generation superior reactor and small modular reactor markets, are presently being assessed.

Silex Profile

Silex is a analysis and improvement firm whose major asset is the SILEX laser enrichment expertise, which has been beneath improvement for uranium enrichment collectively with its US-based unique licensee, GLE, for a variety of years. Improvement operations proceed in Sydney, Australia and Wilmington, North Carolina at GLE’s Check Loop facility. Silex can be creating its laser enrichment expertise to supply enriched Silicon, a key enabling materials for silicon quantum computer systems. Silex is headquartered in Sydney, Australia.

Additional data on the corporate’s actions will be discovered on the Silex web site: www.silex.au.

Cameco Profile

Cameco is likely one of the largest international suppliers of the uranium gasoline wanted to energise a clean-air world. Our aggressive place relies on our controlling possession of the world’s largest high-grade reserves and low-cost operations. Utilities all over the world depend on our nuclear gasoline merchandise to generate energy in protected, dependable, carbon-free nuclear reactors. Our shares commerce on the Toronto and New York inventory exchanges. Our head workplace is in Saskatoon, Saskatchewan.

Warning Relating to Ahead-Trying Data and Statements

This information launch contains statements thought of to be forward-looking data or forward-looking statements beneath Canadian and US securities legal guidelines (which we check with as forward-looking data), together with: the appointment of Mr. Dobchuk turning into efficient on June 15, 2021; our expectations that Mr. Dobchuk is nicely positioned to steer the customer-facing aspect of GLE’s commercialization section, the function that he’ll play, and the main focus that he’ll deliver to that function; the opportunity of GLE turning into a supplier of high-assay low-enriched uranium (HALEU) for the rising superior reactor and small modular reactor markets; the expectation that GLE will efficiently full the event of the SILEX expertise; our beliefs concerning the longer term prospects for next-generation laser enrichment expertise and the flexibility of the expertise licensed by GLE to ascertain a powerful market basis; and the expectations concerning the Paducah challenge and GLE’s capability to commercialize the SILEX expertise.

This forward-looking data relies on a variety of assumptions, together with assumptions concerning: Mr. Dobchuk’s capability to realize the goals of his function; the flexibility of GLE to finish the event and commercialization of the SILEX expertise; the extent of future market demand for the SILEX expertise, and its capability to compete in opposition to any comparable or different expertise which can be developed; GLE’s capability to turn out to be a supplier of HALEU for the meant markets; and GLE’s capability to buy depleted uranium from the DOE’s stockpiles in Paducah, Kentucky and to assemble the proposed laser enrichment facility utilizing the SILEX expertise. This data is topic to a variety of dangers, together with: the danger that Mr. Dobchuk will face sudden impediments in executing his duties; the danger that GLE could not be capable to full the event of the SILEX expertise efficiently or, as soon as developed, could not be capable to commercialize it successfully; the danger of a lower in future market demand for the SILEX expertise; the danger that different comparable or different applied sciences could also be developed, and should obtain success in competing with the SILEX expertise; the danger that GLE could not be capable to turn out to be a supplier of HALEU for the meant markets; and the danger that GLE is probably not ready proceed to have entry to the DOE’s depleted uranium shops in Paducah, Kentucky or that the proposed laser enrichment facility is probably not efficiently accomplished. The forward-looking data on this information launch represents our present views, and precise outcomes could differ considerably. Ahead-looking data is designed that will help you perceive our present views, and is probably not applicable for different functions. We won’t essentially replace this data until we’re required to by securities legal guidelines.