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InvestorNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Releases Q1 2020 Financial, Corporate Report
May 14, 2021

InvestorNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Releases Q1 2020 Financial, Corporate Report

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, has reported its first quarter 2021 results for the period ended March 31, 2021. Highlights of the report include a robust balance sheet, continued readiness to supply uranium into the U.S. Uranium Reserve when established and the ramp-up of rare earth product. In addition, UUUU announced the arrival of the first shipments of natural monazite ore at the company’s White Mesa Mill as well as the execution of a nonbinding memorandum of understanding (“MOU”) for a future supply of natural monazite sands from Hyperion Metals Ltd.’s  heavy mineral sand project in Tennessee. Finally, the company also noted that it has asked Carester SAS, a leading global consultant on REE supply chain, to execute a study for the development of a solvent extraction (“SX”) REE separation circuit at the White Mesa Mill. The company also announced it will host a webcast to discuss the Q1 2021 report; the webcast is scheduled for Monday, May 17, 2021, at 4 p.m. ET. Those interested can call into the webcast by dialing (888) 664-6392 domestically. A recorded replay of the webcast will be available on the company website until May 31, 2021. “Without a doubt, Energy Fuels is making major strides toward restoring critical U.S. rare earth supply chains, while also maintaining our position as the leading U.S. uranium producer,” said Energy Fuels president and CEO Mark S. Chalmers in the press release. “On rare earths, our efforts over the past several months culminated in the announcement in March that Energy Fuels and Neo Performance Materials were creating a new, U.S.-European rare earth supply chain. In early March, we began to receive shipments of rare-earth-rich natural monazite sands from Chemours’ Georgia heavy mineral sand operations. In late-March, we began to ramp-up production of an intermediate rare earth product at our White Mesa Mill in Utah using monazite from Chemours. This is expected to be a high-value product ready to be separated and refined into value-added rare earth products at Neo’s plant in Europe. At this time, no other U.S. company is producing a product this far down the rare earth value chain.”

To view the full press release, visit https://ibn.fm/63Pp5

About Energy Fuels Inc.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 (“U308”) to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and expects to commence commercial production of rare earth element (“REE”) carbonate in 2021. 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 United States today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant, and is completing final test-work for the production of REE carbonate from various uranium-bearing ores. 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 on standby and has a licensed capacity of 1.5 million pounds of U3O8 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. along with several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. 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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