December 21, 2009
Energy Fuels Inc. (TSX-EFR) (“Energy Fuels” or the “Company”), is pleased to announce that its Piñon Ridge Uranium/Vanadium Mill project has cleared another major hurdle on the path to production. On December 18th, Energy Fuels was notified by the Colorado Department of Public Health and Environment, Radiation Management Program (CDPHE), that the Radioactive Materials License Application (the Application) submitted on November 18th, was determined to be complete. This decision moves the Application into the technical adequacy review process, which is driven by compliance with applicable regulations and based on design and findings of fact regarding environmental impacts, operations, and health and safety for the community and mill employees. According to the press release from CDPHE, this comprehensive technical review will last between 12 and 14 months. The first public meeting on the Application has been scheduled for Thursday, January 21 at 6:00 pm in the Nucla High School Gymnasium, 225 W. 4th Ave., Nucla, Colorado.
Sheep Mountain Alliance, a Telluride-based organization, has filed a lawsuit against the Board of County Commissioners of Montrose County and Montrose County Land Use Director, Steve White, challenging the County’s decision to issue a Special Use Permit for the Pinon Ridge Mill. Energy Fuels was named as an Indispensible Party in that litigation. No injunctive relief or monetary damages are sought against Energy Fuels pursuant to the lawsuit.
George Glasier, President and CEO of Energy Fuels, stated ”Montrose County and Energy Fuels, through their respective counsels, believe that this lawsuit is without merit and I am confident that the Court will uphold the decisions and the process of Montrose County in reviewing and granting the Special Use Permit. The recent action of CDPHE granting the finding of completeness on our license application illustrates that this lawsuit has not affected the regulatory review process at CDPHE, and we believe the CDPHE review process will not be affected by this lawsuit in the future.”
Energy Fuels announces that on December 11th, Craig Schneider resigned as a member of the Board of Directors of Energy Fuels, effective December 17th due to a significantly increased commitment required by his other business activities. The Board of Energy Fuels thanks Mr. Schneider for his service to the Company.
Stephen P. Antony, P.E., 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 47,000 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 32,000 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 Magnum Uranium subsidiary, has assembled this property portfolio along with a first class management team, including highly skilled technical 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.
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