Eagle Energy Metals Reports Positive Metallurgical Optimization Results for its Aurora Uranium Project
Uranium recoveries in the high-80-percent range and lower processing costs strengthen the Aurora Project and support Eagle’s growth into a leading domestic supplier of nuclear power
RENO, Nev., Nov. 12, 2025 (GLOBE NEWSWIRE) -- Eagle Energy Metals Corp. (“Eagle” or the “Company”), a next-generation nuclear energy company with rights to the largest, measured and indicated uranium deposit in the United States and exclusive Small Modular Reactor (SMR) technology, today highlighted new metallurgical optimization results announced by Aurora Energy Metals Ltd. (“Aurora Energy”) for the Aurora Uranium Project (“Aurora” or the “Project”) in southeast Oregon.
The Project includes the Aurora deposit, with 32.75Mlbs Indicated and 4.98Mlbs Inferred (from SK-1300 Technical Report Summary dated August 8, 2025, “TRS”) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the Project’s overall resource inventory, based on over 500 completed drill holes, making it one of the largest uranium assets in the country. Eagle expects the Project to serve as its flagship asset following the completion of its proposed business combination (the “Business Combination”) with Spring Valley Acquisition Corp. II (SVIIF), announced in July. Upon closing, Eagle plans to list on Nasdaq under the ticker “NUCL”.
By pairing a large, geologically low-risk uranium resource with exclusive SMR technology, Eagle aims to help strengthen the U.S. uranium supply and help rebuild a secure domestic nuclear supply chain. Aurora Energy’s recently completed metallurgical program demonstrates strong gains in processing efficiency and cost reduction.
Metallurgical Optimization Delivers High Recoveries and Lower Costs
- Optimization program confirms uranium recoveries in the high 80% range, consistent with prior best results.
- Initial acid addition reduced to 240-250 kg/t from the previous requirement of over 600 kg/t.
- Overall acid consumption lowered to ~70–90 kg/t, enhancing project economics.
- Tests demonstrate no requirement for separate processing of clay and middlings, simplifying the flowsheet while reducing capital and operating costs.
- Leach duration reduced to ~12 hours from the previous duration of 24 hours, with no requirement for ferric sulphate, further reducing reagent costs.
- Recycling of leach solution shows potential to further lower acid consumption.
“Reducing acid use and cutting processing times can make a meaningful difference in the economics of a uranium project,” said Mark Mukhija, CEO of Eagle Energy Metals. “These results show that Aurora’s uranium may be recovered more efficiently and at lower cost than anticipated, without sacrificing performance. For Eagle, that would be a clear validation of the Project’s quality and a key step toward building a reliable U.S. uranium supply chain that can support the nation’s clean energy goals.”
Eagle will continue working closely with Aurora Energy as the Project advances toward the next phase of technical and economic studies. The optimization results reinforce Eagle’s long-term vision to develop a fully integrated nuclear energy platform, linking domestic uranium resources with next-generation SMR technology to help meet rising U.S. demand for reliable, carbon-free power.
About Eagle Energy Metals Corp.
Eagle Energy Metals Corp. is a next-generation nuclear energy company that seeks to combine domestic uranium exploration with proprietary Small Modular Reactor (SMR) technology. The Company holds the rights to the largest 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 (from TRS) of near-surface uranium resource, and the adjacent Cordex deposit, which offers significant potential to expand the Project’s overall resource inventory. 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 Energy Metals Corp., visit www.eagleenergymetals.com.
About SVII Acquisition Corp. II
Spring Valley Acquisition Corp. II (“SVII”) (SVIIF, SVIRF, SVIUF, and SVIWF) is a part of a family of investment vehicles formed for the purpose of acquiring or merging with a business focused on the energy and decarbonization industries. Over the past 5 years, Spring Valley has raised $690 million in three IPOs. SVII is led by Christopher D. Sorrells, Chief Executive Officer and Chairman, and Robert Kaplan, Chief Financial Officer and Head of Business Development. SVII’s board of directors includes Christopher D. Sorrells (Chairman), Sharon Youngblood, Rich Thompson, David Buzby, David Levinson, and Kevin Pohler. Its Sponsor group includes Pearl Energy; a $3.0 billion Texas-based firm focused on the North American energy sector. Spring Valley I successfully completed its business combination with NuScale Power, a leading U.S. small modular reactor (“SMR”) technology company in May 2022. SVII maintains a corporate website at https://sv-ac.com.
The scientific and technical information related to metallurgical test work disclosed in this release has been reviewed and approved by BBA USA Inc. BBA USA Inc. is considered a "Qualified Person" as defined under S-K 1300.
Investor Relations Contact:
775-335-2029
info@eagleenergymetals.com
Media Relations Contact:
Gateway Group
Zach Kadletz, Brenlyn Motlagh
949-574-3860
eagle@gateway-grp.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 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. 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, SVII’s, Eagle Nuclear Energy Corp.’s (“New Eagle”), Eagle’s, or their respective management teams’ expectations concerning the proposed Business Combination and expected benefits thereof; the outlook for Eagle’s or New Eagle’s business; costs and yields of Eagle’s mining projects; the abilities to execute Eagle’s or New Eagle’s strategies; 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 or New Eagle. The forward-looking statements are based on the current expectations of the respective management teams of Eagle, New Eagle, and SVII, as applicable, 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) the risk that the proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of SVII’s securities; (ii) the risk that the proposed Business Combination may not be completed by SVII’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SVII; (iii) the failure to satisfy the conditions to the consummation of the proposed Business Combination, including the approval of the Merger Agreement relating to the Business Combination (the “Merger Agreement”) by the shareholders of SVII and the receipt of regulatory approvals; (iv) market risks; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vi) the effect of the announcement or pendency of the proposed Business Combination on Eagle’s business relationships, performance, and business generally; (vii) risks that the proposed Business Combination disrupts current plans of Eagle and potential difficulties in its employee retention as a result of the proposed Business Combination; (viii) the outcome of any legal proceedings that may be instituted against Eagle or SVII related to the Merger Agreement or the proposed Business Combination; (ix) failure to realize the anticipated benefits of the proposed Business Combination; (x) the inability to maintain the listing of SVII’s securities or to meet listing requirements and maintain the listing of the combined company’s securities on Nasdaq Capital Market or a comparable exchange; (xi) the risk that the price of the combined company’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; (xii) fluctuations in spot and forward markets for lithium and uranium and certain other commodities (such as natural gas, fuel oil and electricity); (xiii) restrictions on mining in the jurisdictions in which Eagle operates; (xiv) laws and regulations governing Eagle’s operation, exploration and development activities, and changes in such laws and regulations; (xv) 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; (xvi) 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); (xvii) 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); (xviii) environmental regulations and legislation; (xix) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xx) risks relating to Eagle’s exploration operations; (xxi) fluctuations in currency markets; (xxii) the volatility of the metals markets, and its potential to impact Eagle’s ability to meet its financial obligations; (xxiii) disputes as to the validity of mining or exploration titles or claims or rights, which constitute most of Eagle’s property holdings; (xxiv) Eagle’s ability to complete and successfully integrate acquisitions; (xxv) increased competition in the mining industry for properties and equipment; (xxvi) limited supply of materials and supply chain disruptions; (xxvii) relations with and claims by indigenous populations; (xxviii) relations with and claims by local communities and non-governmental organizations; and (xxix) the risk that the proposed Series A Preferred Stock Investment into New Eagle may not be completed, or that other capital needed by the combined company may not be raised on favorable terms, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither SVII, Eagle, nor New Eagle presently know or that SVII, Eagle, and New Eagle currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this document and the other risks and uncertainties described in the “Risk Factors” section of the 2024 Form 10-K, the risks described or to be described in the Registration Statement on Form S-4, the Proxy Statement (each as defined below), and any amendments or supplements thereto, and those discussed and identified in filings made with the Securities and Exchange Commission (the “SEC”) by SVII, New Eagle or Eagle from time to time. Eagle, New Eagle, and SVII caution 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. Neither Eagle, SVII, nor New Eagle undertakes any 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 New Eagle, Eagle or SVII will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the proposed Business Combination, in SVII’s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.
Additional Information and Where to Find It
In connection with the proposed Business Combination, New Eagle filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 (File No. 333-290631) (the “Registration Statement”), which includes a preliminary prospectus with respect to New Eagle’s securities to be issued in connection with the Business Combination and a preliminary proxy statement to be distributed to holders of SVII’s Class A Ordinary Shares in connection with SVII’s solicitation of proxies for the vote by SVII’s shareholders with respect to the Business Combination and other matters described in the Registration Statement (collectively, the “Proxy Statement”). After the SEC declares the Registration Statement effective, SVII plans to file the definitive Proxy Statement with the SEC and to mail copies to shareholders of SVII as of a record date to be established for voting on the Business Combination and other matters described in the Registration Statement. This press release does not contain all of the information that should be considered concerning the Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that SVII, New Eagle or Eagle may file with the SEC. Before making any investment or voting decision, investors and security holders of SVII, New Eagle and Eagle are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Business Combination as they become available because they will contain important information about New Eagle, Eagle, SVII and the Business Combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by SVII, New Eagle or Eagle through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by SVII may be obtained free of charge from SVII’s website at www.sv-ac.com or by directing a request to Spring Valley Acquisition Corp. II, Attn: Corporate Secretary, 2100 McKinney Avenue, Suite 1675, Dallas, Texas 75201. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this document.
Participants in the Solicitation
New Eagle, Eagle, SVII and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from SVII’s shareholders in connection with the Business Combination. For more information about the names, affiliations and interests of SVII’s directors and executive officers, please refer to SVII’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on April 11, 2025 (the “2024 Form 10-K”) and the Registration Statement, Proxy Statement and other relevant materials filed or to be filed with the SEC in connection with the Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of SVII’s shareholders generally, will be included in the Registration Statement and the Proxy Statement. Shareholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, carefully, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation
This document shall not constitute a “solicitation” as defined in Section 14 of the Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.
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