Energy Fuels Announces Election of Directors and Results of Shareholder Meeting

TORONTO, May 27, 2020 - Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the "Company"), the leading uranium producer in the United States, announces the results of the election of directors and other matters at its annual meeting of shareholders (the "Meeting") held virtually on May 27, 2020.

Meeting Results

The eight (8) nominees proposed by management for election as directors were elected by the shareholders of the Company, through a combination of votes by proxy and electronic poll, as follows:

At the Meeting, the shareholders also voted to approve the appointment of KPMG LLP, an independent registered public accounting firm located in Denver, Colorado, as the auditors of the Company.

The shareholders also approved, on a non-binding advisory basis, the compensation of the Company's named executive officers, commonly referred to as a "Say-on-Pay" vote.

Finally, the shareholders selected, on a non-binding advisory basis, every three years as the preferred frequency of holding future non-binding advisory votes on the compensation of the Company's named executive officers, commonly referred to as a "Say-on-Frequency" vote.

Details of each of these matters are set out in the Management Information Circular of the Company dated April 7, 2020. A report of voting results for each resolution presented at the Meeting prepared in accordance with National Instrument 51-102 has been filed under the Company's profile on SEDAR at www.sedar.com.

About Energy Fuels: Energy Fuels is a leading US-based uranium mining company, supplying U₃O₈ to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant. Its corporate offices are near Denver, Colorado, 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 U₃O₈ 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 U₃O₈ per year. The Alta Mesa ISR Project is currently on standby. 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." Energy Fuels' website is www.energyfuels.com.

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SOURCE Energy Fuels Inc.