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Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Announces Creation of Million-Dollar Foundation to Support Local Communities
September 24, 2021

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Announces Creation of Million-Dollar Foundation to Support Local Communities

  • UUUU’s San Juan County Clean Energy Foundation designed to assist communities surrounding Energy Fuels’ White Mesa Mill in southeastern Utah
  • Company initially donating $1 million, plans to donate annual funding equal to 1% of the mill’s future revenues
  • Investing back into the San Juan County community will give company opportunity to support, catalyze sustainable economic and community development

Committed to being a strong member of the community, Energy Fuels (NYSE American: UUUU) (TSX: EFR)  has established the San Juan County Clean Energy Foundation (https://ibn.fm/y7aW1). The foundation is a fund created to contribute to the communities surrounding Energy Fuels’ White Mesa Mill in southeastern Utah. 

Energy Fuels kicked off the fund by depositing $1 million into the foundation, noting that the company plans to continue to donate annual funding equal to 1% of the mill’s future revenues. The funds from the foundation are earmarked to support the local economy and local priorities, specifically focusing on supporting education, the environment, health/wellness, and economic advancement in the city of Blanding, San Juan County, the White Mesa Ute Community, the Navajo Nation and other area communities.

“The communities that surround our facility deserve to share in the benefits of the mill’s clean-energy future,” said Energy Fuels CEO Mark Chalmers. “We see San Juan County as becoming a critical minerals hub for the U.S., and we believe the foundation is truly the best way to make an impact and difference in the lives of those who work alongside us as we pursue these goals.”

In the announcement, Chalmers noted that uranium, which is the fuel for carbon-free, emission-free baseload nuclear power, is one of the cleanest forms of energy in the world. “The rare earths we are now producing are used for the manufacture of permanent magnets for electric vehicles, wind turbines and other clean energy and modern technologies, and the thorium and other radioisotopes we are evaluating for recovery from our rare earth and uranium processing streams have the potential to provide the isotopes needed for emerging targeted alpha therapy cancer-fighting therapeutics. The very heart of our business — uranium and rare-earth production and recycling — helps us play a big part in addressing global climate change, reducing air pollution, and making the world a cleaner and healthier place.”

“The processing of rare earths at the White Mesa Mill, in addition to processing and recycling uranium, is one of the best opportunities I have seen in my entire 40+ year career, as electric vehicles, renewable energy systems, and other clean energy and advanced technologies drive demand,” Chalmers continued. “And the potential to also extract isotopes that can be used to fight cancer is a very important added opportunity. Investing back into the San Juan County community will give us the opportunity to help support and catalyze sustainable economic and community development, beyond good jobs and more tax revenues.” 

Local community leaders reacted to the announcement, with Blanding mayor Joe B. Lyman noting that the company has long been a major contributor to not only the employment base of the community but also for the well-being and prosperity of this region. “Over the last year, the company has met with local community members to understand and identify needs in the area,” he observed. “The formation of the foundation is a culmination of these efforts and the beginning of a long-term commitment to improve the quality of life for everyone in the San Juan County area to help us reach our full potential.” 

While Blanding only boasts a population of a little more than 3,000, the city is the largest one in San Juan County. Resources in the area include mineral processing, mining, agriculture, local commerce, tourism and transportation. In addition, the community serves as a gateway to nearby natural, cultural and archaeological resources. Energy Fuels noted that the foundation will have a community-based advisory board, which will assist in determining the best allocation for the funds. This will “ensure that the foundation’s contributions are well planned and correspond to the specific needs and aspirations of the communities,” the company stated.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain projects, as market conditions warrant, as well as rare earth carbonate. With corporate offices in Lakewood, Colorado, near Denver, and all of its assets and employees 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. 

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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