Energy Fuels Inc. CEO Discusses Newly Released Sustainability Report and Entry Into Rare Earths Production for 2021

NEW YORK, Jan. 13, 2021 - via NetworkNewsAudio — Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) today announces that its President and CEO, Mark Chalmers, has been featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company and one of 50+ brands in the InvestorBrandNetwork (“IBN”). During the interview, Chalmers discussed Energy Fuel’s very active 2020 despite the COVID-19 pandemic and the company’s recently released Sustainability Report, as well as providing a bright outlook for 2021.

The broadcast can be heard at The NetworkNewsAudio Interviews Podcast

Chalmers said Energy Fuels has been preparing to enter a new business in 2021 – the commercial production of rare earths.

“We are first and foremost a uranium producer, the largest producer of uranium in the United States. We also announced in April we’re entering the rare earth sector. We just recently announced that we secured a supply agreement with The Chemours Company for the purchase of monazite ore, which contains both uranium and rare earths. In addition, we’ve got substantial traction with the U.S. government on supporting a national uranium reserve, which our company had a lot to do with in D.C. So it’s been a busy year, despite the COVID issues.”

In addition to being the largest uranium miner in the U.S., the Energy Fuels portfolio includes a pipeline of high quality, large scale exploration and development projects. Chalmers also commented on the company’s newly released Sustainability Report, available at www.energyfuels.com.

“When you look at all the positive impacts we have as a company when it comes to reducing carbon emissions, whether it be the uranium production for providing nuclear power, the recycling we’ve done for the past couple of decades, the vanadium sector where we have the only primary vanadium plant in the U.S., or our entrance into rare earths, we cover all these critical minerals and materials that are focused on reducing carbon emissions in a more energy-efficient society.”

He concluded with a positive outlook for 2021.

“We will be busy with commercial production of rare earths in 2021. We also hope there will be further activity in the uranium market, whether it be the national reserve or higher uranium prices. We’re prepared for advances in both rare earths and the uranium business. We will also continue to focus on our recycling business where we recover uranium. If you’re committed to clean energy, and I think most people are, we’re in the right spot.”

Please listen to the full interview with Energy Fuels Inc. President and CEO Mark Chalmers at https://nnw.fm/3HkVN

About Energy Fuels Inc.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and anticipates commencing 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 U.S. 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. and 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.

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Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

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