December 3, 2010
Energy Fuels Inc. (TSX-EFR) (“Energy Fuels” or the “Company“), an advanced uranium and vanadium development company reported today that the Denver Post published an editorial entitled “Uranium Mill in Colorado Could Benefit State, Nation”, in their print and online editions of December 2, 2010.
Excerpts from the editorial included, “An effort underway in western Colorado to build the first conventional uranium mill since the Cold War seems to be a welcome step toward energy independence, and we hope it gains a state permit by the beginning of next year.” The editorial applauded the efforts of Energy Fuels in stimulating the local economy with the caveat that the Company builds the mill to stringent safety and environmental standards. The editorial continued, “If Energy Fuels can meet the exceedingly high bar set by the Nuclear Regulatory Commission (NRC), we welcome the multiple benefits the mill would bring to that part of the state and the nation.”
The editorial said, “Residents of the tiny towns of Nucla and Naturita near the site of the proposed Piñon Ridge Mill overwhelmingly support a return of uranium milling and mining. Montrose County officials do as well….The Montrose Economic Development Corp. estimates that the total economic impact to the region — in direct and indirect employment — would be nearly $50 million a year.”
“We appreciate the Denver Post’s positive editorial coverage of our uranium mill, which we feel will economically benefit the region and directly employ up to 85 people in the area,” commented Steve Antony, President and CEO of Energy Fuels. “Safety and protection of the environment have been paramount considerations every step of the way in the design of this proposed mill. We believe that nuclear energy is the future of global electrification, and we are confident in our ability to be an important strategic supplier to that market.”
The full editorial can be viewed on The Denver Post website at http://www.denverpost.com/search/ci_16752996.
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Energy Fuels Inc. is a uranium and vanadium mineral development company actively rehabilitating and developing formerly producing mines. With more than 44,000 acres of highly prospective uranium and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming, and New Mexico, and exploration properties in Saskatchewan’s Athabasca Basin totaling approximately 40,000 additional acres, the Company has a full pipeline of additional development prospects. Energy Fuels, through its wholly-owned Colorado subsidiary, Energy Fuels Resources Corporation and its British Columbia subsidiary, Magnum Uranium Corp., has assembled this property portfolio along with a first class management team, including highly skilled techn*-ical mining and milling professionals based in Lakewood and Nucla, Colorado and Kanab, Utah.
This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and “Forward Looking Information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with the British Columbia, Alberta and Ontario Securities Commissions.
FOR FURTHER INFORMATION PLEASE CONTACT:
Energy Fuels Inc.
Toll free: 1-888-864-2125