November 16, 2010
Energy Fuels Inc. (TSX-EFR) (“Energy Fuels” or the “Company“), an advanced uranium and vanadium exploration and development company, is pleased to provide an update on its license application for the Piñon Ridge Uranium and Vanadium Mill located near Naturita, Colorado.
On November 12, 2010, Energy Fuels submitted the last set of responses to the technical review comments and questions posed by the Radiation Program officials of the Colorado Department of Public Health and Environment. As of this date, all the necessary technical responses have been filed. The Company is now awaiting a decision from the State.
The Radiation Program is required under state law to render a draft decision on Energy Fuels’ Radioactive Material License Application by January 17, 2010. This license is the primary permit needed for mill construction and operation in Colorado. Once the draft decision is reached, a 60-day public comment period will occur after which the Radiation Program will make its final decision.
“Permitting a uranium mill in the United States is no small task and I credit my permitting team at Energy Fuels on their attention to detail and prompt responses at every stage of this process,” commented Stephen Antony, President and CEO of Energy Fuels. “Public health and safety, and protection of the environment have been at the forefront of every decision that has gone into this mill design and operating plan. A positive decision from the State would represent the first uranium mill permitted in the United States in 30 years and will enable Energy Fuels to continue the aggressive pursuit of our consolidation and development plan for the historic Uravan Mineral Belt uranium /vanadium district.”
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Stephen P. Antony, President and CEO, and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the content of this press release.
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