VANCOUVER – October 28, 2026 -- Purecore Metals Inc. (CSE: PURE) has published a report that cites Sprott scenarios of cumulative uranium supply deficits of roughly 700 million to 1.7 billion pounds of U3O8 through 2040. The report, titled Uranium and the AI Power Boom, sets those scenarios against rising electricity consumption from artificial intelligence and data centre infrastructure.
It draws on the IEA, IAEA, U.S. Energy Information Administration, Sprott Asset Management and Cameco. The central argument is a timing mismatch: AI infrastructure is built quickly, while new uranium mines take far longer to bring into production.
IEA sees data centre power use reaching 950 TWh a year by 2030
The report cites an IEA projection that data centre electricity consumption could hit 950 TWh annually by 2030. CEO Peter Berdusco said the largest technology companies increasingly look to nuclear for reliable, around-the-clock power. He added that Purecore compiled the report so investors can see the same industry data that informs its strategy.
IAEA high case puts nuclear capacity at 1,284 GW by 2060
About 413 reactors were operating worldwide at the end of 2025, with 377.1 GW of generating capacity, according to the IAEA's September 2026 estimates. Under its high-growth scenario, capacity rises to about 1,045 GW by 2050 and 1,284 GW by 2060, more than three times the 2025 level. The report stresses these are scenario-based projections, not assured outcomes.
Sprott estimates cumulative deficits could approach 700 million pounds of U3O8 by 2040 under its base demand assumptions. A scenario that includes global net-zero commitments lifts the figure to about 1.7 billion pounds. Sprott's analysis uses data as of Dec. 31, 2024.
Uranium spot price reaches US$89.63/lb, up from US$24.63 in January 2020
Cameco's industry-average spot price stood at US$89.63/lb U3O8 on Sept. 30, 2026. The long-term price indicator was US$96.50/lb, against US$35.00/lb at the end of 2020.
EIA data cited in the report show roughly 186.3 million pounds of unfilled U.S. utility requirements for 2026-2035. The report examines how those requirements, together with possible global fleet expansion, could shape procurement strategies and demand for primary uranium production.
Kazakhstan supplies about 40% of global mine output
The World Nuclear Association says Kazakhstan accounted for about 40% of global uranium mine production in 2025, making it the largest producing country. Kazatomprom, the national uranium company, reported attributable production equal to about 20% of global primary uranium output in 2025.
Purecore holds option on 35,029-hectare Yurchison uranium property
Purecore pursues an acquisition- and exploration-focused strategy in uranium and copper. Its Yurchison Uranium Property in the Wollaston Domain of northern Saskatchewan comprises 22 mineral claims covering about 35,029 hectares. Under a definitive option agreement with Skyharbour Resources Ltd., Purecore can earn up to a 100% interest.
Yurchison lies about 75 kilometres south of Cameco's Rabbit Lake operation. A historical data compilation and technical review program is under way to support future exploration target generation. The company also holds the Bankier Property in British Columbia.
The report is not a technical report under National Instrument 43-101. Purecore says third-party projections are scenarios, not guarantees.