$UUUU Finalizes Agreements with Rare Earth Element Industry Experts to Advance Commercial, Technical Strategies

Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading uranium producer in the United States, recently finalized consulting agreements with two rare earth element (“REE”) industry experts, Constantine Karayannopoulos and Brock O’Kelley. The experts will consult with the company on the development and implementation of commercial and technical REE strategies for the new U.S. REE program (http://nnw.fm/z82zF). An article discussing the company reads, “The company previously announced that it is entering the U.S. rare earths space by potentially leveraging its existing White Mesa Mill in Utah to produce high-value rare earth concentrates. If successful, the mill would play a critical role in restoring a U.S. rare earths supply chain. . . . ‘Energy Fuels is extremely excited to bring Constantine Karayannopoulos and Brock O’Kelley on board to advance our entry into the rare earth space in the U.S.,’ UUUU president and CEO Mark S. Chalmers stated in a news release. ‘Over the past year or so, Energy Fuels has been actively evaluating this rare earth opportunity. We are quickly coming to the conclusion that the White Mesa Mill may be an ideal U.S. facility to process rare earth element ore streams and produce rare earth concentrates. Mr. Karayannopoulos and Mr. O’Kelley will assist Energy Fuels in the commercial and technical aspects of this endeavor.’”

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About Energy Fuels

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant. Its corporate offices are near Denver, Colorado, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the United States today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S., including several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol UUUU; the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol EFR. For more information, visit the company’s website at www.EnergyFuels.com.

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://nnw.fm/UUUU

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