Energy Fuels (NYSE American: UUUU) (TSX: EFR) today announced that the company has produced a rare earth element (“REE”) carbonate concentrate (“REE Concentrate”) on a pilot scale at its 100% owned White Mesa Mill (the “Mill”), located near Blanding, Utah. According to the update, the REE Concentrate was produced using the Mill’s existing infrastructure and technologies from a sample of monazite sands from a North American source. A valuable natural uranium ore, monazite sands also contain high concentrations of REEs. The Mill recovered high concentrations of REEs in the monazite sands in addition to the contained uranium, which will be sold into the nuclear fuel industry. The REE Concentrate produced is of high purity and ready to be sent to a separation plant and downstream REE processing facility for final acceptance test work. “This past weekend, Energy Fuels achieved a major milestone in U.S. rare earth element production when we successfully produced a REE Concentrate from a sample of monazite sands at our White Mesa Mill,” Mark S. Chalmers, Energy Fuels’ president and CEO, said in the news release. “Our company literally accomplished REE production in months, because we utilized existing resources, infrastructure and technologies.”
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About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U 3 O 8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the potential to also recover rare earth elements at its White Mesa Mill. Its corporate offices are in Lakewood, Colorado near Denver, 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 U.S. today, has a licensed capacity of over 8 million pounds of U 3 O 8 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 U 3 O 8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U 3 O 8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and 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,” and 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://ibn.fm/UUUU
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