Energy Fuels Files Updated Technical Report for its 100%-Owned Canyon Uranium/Copper Mine
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Energy Fuels Files Updated Technical Report for its 100%-Owned Canyon
Uranium/Copper Mine
Lakewood, Colorado – October 10, 2017
Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (“Energy Fuels” or the “Company”) , a leading producer
of uranium in the United States , is pleased to announce that it has filed an updated technical report for
its Canyon Mine on the System for Electronic Document Analysis and Retrieval (“SEDAR”) in accord ance
with National Instrument 43 -101 – Standards of Disclosure for Mineral Projects (“NI 43 -101”). The
Canyon Mine is a fully-permitted and substantially-developed uranium/copper mine located in Northern
Arizona.
The document, entitled “Technical Report on the Canyon Mine, Coconino County, Arizona, U.S.A.” and
dated October 6, 2017, was authored by Mark B. Mathisen, C.P.G., Valerie Wilson, M.Sc., P.Geo, and
Jeffrey L. Woods, QP MMSA, SME of Roscoe Postle Associates Inc. , each of whom is an independent
qualified person for purposes of NI 43-101. As previously reported in the Company’s news release dated
August 23, 2017, the Canyon Mine is estimated to contain 139,000 tons of Measured and Indicated
Mineral Resources with an average grade of 0.88% U 3O8 containing 2,434,000 pounds of uranium, along
with 18,000 tons of Inferred Mineral Resources with an average grade of 0.38% U3O8 containing 134,000
pounds of uranium . The Main Zone of the deposit is also estimated to contain 11,939,000 pounds of
copper contained in 101,000 tons of Measured and Indicated Mineral Resources with an average grade
of 5.93% Cu. There are no discrepancies between the technical report and the August 23 news release.
About Energy Fuels: Energy Fuels is a leading integrated US -based uranium mining company, supplying U 3O8 to
major nuclear utilities. Energy Fuels holds three of America’s key uranium production centers, the White Mesa Mill
in Utah, the Nichols Ranch Proc essing Facility in Wyoming , and the Alta Mesa Project in Texas . The White Mesa
Mill is the only conventional uranium mill operating in the U.S. today and has a licensed capacity of over 8 million
pounds of U3O8 per year. The Nichols Ranch Processing Facility is an ISR production center with a licensed capacity
of 2 million pounds of U 3O8 per year. Alta Mesa is an ISR production center currently on care and maintenance .
Energy Fuels also has the largest NI 43 -101 compliant uranium resource portfolio in the U.S. among producers, and
uranium mining projects located in a number of Western U.S. states, including one producing ISR project, mines on
standby, and mineral properties in various stages of permitting and development. The Company also produces
vanadium as a co -product of its uranium production from certain of its mines on the Colorado Plateau, as market
conditions warrant. The Company’s common shares are listed on the NYSE MKT under the trading symbol “UU UU”,
and on the Toronto Stock Exchange under the trading symbol “EFR”.
Stephen P. Antony, P.E., President & CEO of Energy Fuels , is a Qualified Person as defined by Canadian National
Instrument 43-101 and has reviewed and approved the technical disclosure contained in this news release.
Cautionary Note Regarding Forward -Looking Statements: Certain information contained in this news release,
including any information relating to : the Company being a leading producer of uranium in the U.S. ; the risks
associated with the mineral resource estimate contained in the revised NI 43 -101 Technical Report; and any other
statements regarding Energy Fuels’ future expectations, beliefs, goals or prospects; constitute forward -looking
information within the meaning of applicable securities legislation (collectively, "forward -looking statements"). All
statements in this news release that are not statements of historical fact (including statements containing the
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words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates",
"projects", "potential", "scheduled", "forecast", "budget" and similar expressions) should be considered forward-
looking statements. All such forward -looking statements are subject to important risk factors and uncertainties,
many of which are beyond Energy Fuels’ ability to control or predict. A number of important factors could cause
actual results or events to differ materially from those indicated or implied by such forward- looking statements,
including without limitation factors relating to : the Company being a leading producer of uranium in the U.S. ;; the
risks associated with the mineral resource estimate contained in the revised NI 43 -101 Technical Report ; and other
risk factors as desc ribed in Energy Fuels’ most recent annual report on Form 10 -K and quarterly financial reports.
Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required
by law. Additional information identifying ris ks and uncertainties is contained in Energy Fuels’ filings with the
various securities commissions which are available online at www.sec.gov and www.sedar.com. Forward- looking
statements are provided for the purpose of providing information about the curr ent expectations, beliefs and plans
of the management of Energy Fuels relating to the future. Readers are cautioned that such statements may not be
appropriate for other purposes. Readers are also cautioned not to place undue reliance on these forward -looking
statements, that speak only as of the date hereof.
Cautionary note to United States investors concerning estimates of measured, indicated and inferred resources.
This news release contains certain disclosure that has been prepared in accordance with the requirements of
Canadian securities laws, which differ from the requirements of U.S. securities laws. Unless otherwise
indicated, all reserve and resource estimates included in this news release have been prepared in accordance
with NI 43 -101 and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) classification system.
Canadian standards, including NI 43 -101, differ significantly from the requirements of U.S. securities laws, and
reserve and resource information contained in this news release may not be comparable to similar information
disclosed by companies reporting only under U.S. standards. In particular, the term “resource” does not equate
to the term “reserve” under SEC Industry Guide 7. United States investors are cautioned not to assume that
all or any of Measured or Indicated Mineral Resources will ever be converted into mineral reserves.
Investors are cautioned not to assume that all or any part of an “Inferred Mineral Resource” exists or is
economically or legally minable. Energy Fuels does not hold any Reserves as that term is defined by SEC
Industry Guide 7. Please refer to the section entitled “Cautionary Note to United States Inves tors Concerning
Disclosure of Mineral Resources” in the Company’s Annual Report on Form 10 -K dated March 15, 2016 for
further details.
Energy Fuels Inc.
Curtis Moore – VP – Marketing & Corporate Development
(303) 974-2140 or Toll free: (888) 864-2125
www.energyfuels.com