Curtis Moore 303-842-5122 VP Marketing/Corporate Development, Jackie Brown-Griggs 303-300-2255 Energy Fuels Establishes the San Juan County Clean Energy Foundation with Potential to Contribute Millions to Local Communities

FOR IMMEDIATE RELEASE:      CONTACTS: 

Curtis Moore 303-842-5122

VP Marketing/Corporate Development,

Jackie Brown-Griggs 303-300-2255

Energy Fuels Establishes the San Juan County Clean Energy 

Foundation with Potential to Contribute Millions to Local 

Communities 

Blanding, UT – September 16, 2021 – At its recent open house showcasing its uranium and rare

earth businesses for local and national dignitaries and industry leaders, Energy Fuels Inc. (“Energy Fuels”

or the “Company”) announced the establishment of the San Juan County Clean Energy Foundation, a

fund specifically designed to contribute to the communities surrounding Energy Fuels’ White Mesa Mill

in Southeastern, Utah.

This week, Energy Fuels deposited $1 million into the Foundation and anticipates providing

ongoing annual funding equal to 1% of the Mill’s future revenues, providing funding to support the local

economy and local priorities. The Foundation will focus 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 Mark Chalmers, CEO of Energy Fuels. “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

earth’s 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. 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.”

Company executives met with local community members to better understand and identify how

the Foundation will strategically support the local communities and how to best structure the Foundation.

“Energy Fuels 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,” said Blanding's Mayor Joe B.

Lyman. “Over the last year, the Company has met with local community members to understand and

identify needs in the area. 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.” To ensure that the Foundation’s contributions are well-planned

and correspond to the specific needs and aspirations of the communities, the Foundation will have a

community-based Advisory Board to help it determine the best allocation for the funds.

“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,” continued

Mr. Chalmers. “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.”

With a population of a little more than 3,000 people, Blanding is the most populous city in

San Juan County. Economic contributors include mineral processing, mining, agriculture, local

commerce, tourism, and transpor tation. The community is also a gateway to nearby natural,

cultural and archaeological reso urces. Energy Fuels’ rare earth initiative will only involve

mineral processing, and it is not expected to involve any new mining in the region.

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. Energy Fuels is a publicly traded company on the NYSE under the

trading symbol "UUUU," and its common shares are also listed on the Toronto Stock Exchange under the

trading symbol "EFR." Energy Fuels' website is www.energyfuels.com

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CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS 

This news release contains "forward-looking information" within the meaning of applicable securities laws.

Forward-looking information may relate to future even ts or future performance of Energy Fuels. All

statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives

and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations,

estimates, and intentions, are forward-looking informa tion. Specific forward-looking statements in this

discussion include, but are not limited to, the following: any expectation as to future production of uranium

at the Mill; any expectation as to future production of rare earth products at the Mill; any expectation as

to future production of thorium and other radioisotopes for use in emerging targeted alpha therapies; any

expectation as to future revenues at the Mill; any exp ectation that San Juan County will become a critical

minerals hub for the U.S.; any expectation as to any ongoing annual funding for the Foundation or the

longevity of the Foundation; any expectation that the Foundation will provide the potential to contribute

millions to local communities; any expectation as to the manner in which the Foundation will distribute or

invest its funds; and any expectation that the Foundation’s money will help support and catalyze

sustainable economic and communi ty development, beyond good j obs and more tax revenues. Often,

but not always, forward-looking in formation can be identified by the use of words such as "plans",

"expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects",

"predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and

phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will"

be taken, occur or be achieved. This informati on involves known and unknown risks, uncertainties and

other factors that may cause actual results or events to differ materially from those anticipated in such

forward-looking information. Facto rs that could cause actual results to differ materially from those

anticipated in these forward-looking statements in clude risks associated with: commodity prices;

processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs

associated with the recovery of uranium, rare earth products, thorium and other radioisotopes at the Mill;

licensing, permitting and regulatory delays; litigation risks; competition from others; market factors,

including future demand for and prices realized from the sale of uranium, rare earth products, and thorium

or other radioisotopes produced at the Mill; and any changes that may be made to the structure, funding

or term of the Foundation if the Company determines at any time that the Foundation is not achieving its

objectives or to better meet its objectives. Forward-looking statements contained herein are made as of the

date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to

update any forward-looking statements whether as a result of new information, results, future events,

circumstances, or if management’s estimates or opi nions should change, or otherwise. There can be no

assurance that forward-looking statements will prove to be accurate, as act ual results and future events

could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not

to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the

information in this communication, except as otherwise required by law.