February 13, 2007
Toronto, Ontario – Energy Fuels Inc. (TSX.V: EFR) (“Energy Fuels” or “the Company”) today provides this status update pursuant to the alternative information guidelines of the Ontario Securities Commission (“OSC”). These guidelines contemplate that the Company will normally provide bi-weekly updates on its affairs until such time as the Company is current with its filing obligations under Canadian securities laws.
The Company’s auditors are in the process of completing their audit and the Company anticipates being in a position to file its financial statements and related MD&A by the end of February, 2007. There are no material disputes or disagreements between the Company’s management and the auditors.
The Ontario Securities Commission has indicated that in accordance with its Policy 57- 603, should Energy Fuels fail to file the 2006 Statements by March 29, 2007, a cease trade order may be imposed by the applicable securities commissions, requiring that all trading of securities of Energy Fuels cease for such periods specified in the order. As previously disclosed, at the request of the Company, the OSC issued a management cease trade order (“MCTO”) restricting certain insiders of the Company from trading in and acquiring securities of the Company, whether direct or indirect, until two business days following the receipt by the OSC of all filings the Company is required to make pursuant to Ontario securities laws.
Since the Company’s original announcement of the delay in filing its financial statements and related MD&A on January 30, 2007, there has been no material change to the information contained in the announcement made on January 30, 2007 and no other material information concerning the affairs of the Company generally has arisen.
Energy Fuels Inc. is a Toronto-based mineral exploration and development company with uranium and vanadium projects located in the States of Colorado, Utah and Arizona, through its whollyowned Colorado subsidiary Energy Fuels Resources Corporation, and with gold, base metals and platinum group properties located in Newfoundland and Quebec and the Roberts property in Northern Ontario, which is prospective for uranium.
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.
“George E.L. Glasier”
President and CEO
For more information please contact:
Dan Barnholden or George E. L. Glasier, President & CEO
Phone: (416) 625 2334 Toll Free: (888) 864 2125 Investor Relations Phone: (970) 864 2125
Or visit the Company’s website at: http://www.energyfuels.com
(The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.)