LAKEWOOD, CO, Jan. 23, 2018 /PRNewswire/ - Energy Fuels Inc.
(NYSE American: UUUU; TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce that, in accordance with the
Company's long-term succession planning, the Board of Directors (the "Board") has appointed Mark S.
Chalmers, the current President and Chief Operating Officer of Energy Fuels, as President and Chief Executive Officer
("CEO") and a Director of the Company, effective February 1, 2018. On January 31, 2018, Stephen P. Antony, the current CEO of the Company, will retire
as CEO and as a Director of the Company.
Mr. Chalmers brings decades of global uranium mining experience to Energy Fuels. Prior to joining Energy Fuels in July of
2016, Mr. Chalmers served as Executive General Manager of Production for Paladin Energy Ltd., where he oversaw operations of the
Langer Heinrich and Kayelekera Mines in Africa. He also possesses extensive experience in in
situ recovery ("ISR") uranium production, including management of the Beverley Mine in Australia and the Highland Mine in the United States. Mr. Chalmers has also
consulted to several of the largest players in the uranium supply sector, including BHP Billiton, Rio Tinto, and Marubeni. Since
joining Energy Fuels, Mr. Chalmers has overseen Energy Fuels' conventional and ISR operations, focusing on production
optimization, resource growth, and obtaining new sources of revenue for the Company including alternate feed materials and land
clean-up work.
Mr. Antony has served Energy Fuels since 2005, when he joined the Company as Chief Operating Officer. He was later appointed
President and CEO in 2009. During his tenure as President and CEO, Energy Fuels has grown from a small uranium project developer
into the largest uranium producer in the U.S. in 2017. Under Mr. Antony's leadership, Energy Fuels consolidated a large
proportion of the U.S. uranium industry through six (6) major acquisitions including Magnum Uranium Corp. (2009), Titan Uranium
Inc. (2012), the US mining division of Denison Mines Corp. (2012), Strathmore Minerals Corp. (2013), Uranerz Energy Corp. (2015),
and Mesteña Uranium, LLC (2016). Through these acquisitions, Energy Fuels now holds three uranium production facilities, a number
of permitted and developed conventional and ISR mines, and the largest National Instrument 43-101 uranium resource portfolio in
the United States among producers and near-producers.
J. Birks Bovaird, Chairman of the Board for Energy Fuels states: "The Board of Directors of Energy Fuels is pleased that
Mark Chalmers has agreed to serve as the Company's President and CEO. Mark brings the suite of
skills that we believe Energy Fuels needs to continue our growth and development into the future. We believe the next few years
could be very interesting for the Company. Major uranium production cuts have been announced by world producers. Energy Fuels is
taking proactive actions to potentially increase the value of U.S. uranium production through our recent submittal of a 232
Petition to the U.S. Department of Commerce. And, we are seeking new sources of revenue through alternate feed materials and land
clean-up work. Despite continuing challenges in uranium markets, Energy Fuels has several unique and exciting opportunities that
no other uranium miner in the U.S. enjoys. Last but certainly not least, the Board thanks Steve
Antony for his service to the Company over the past 13 years. He has been 'the right man at the right time' to guide
Energy Fuels, always leading the Company with intelligence, tenacity, and most importantly, integrity. His crowning achievement
will always be the -consolidation of the U.S. uranium space. Through Mr. Antony's guidance, Energy Fuels is now the premier U.S.
uranium mining company, and we are well positioned to capitalize on increasing uranium prices and other opportunities in the
future. We wish Mr. Antony the very best in the future and a happy and fulfilling retirement."
About Energy Fuels: Energy Fuels is a leading integrated US-based uranium mining company, supplying
U3O8 to major nuclear utilities. Energy Fuels holds three of America's key uranium production centers, the
White Mesa Mill in Utah, the Nichols Ranch Processing Facility in Wyoming, and the Alta Mesa Project in Texas. The White Mesa Mill is the
only conventional uranium mill operating in the U.S. today and has a licensed capacity of over 8 million pounds of
U3O8 per year. The Nichols Ranch Processing Facility is an ISR production center with a licensed capacity
of 2 million pounds of U3O8 per year. Alta Mesa is an ISR production center
currently on care and maintenance. Energy Fuels also has the largest National Instrument 43-101 compliant uranium resource
portfolio in the U.S. among producers, and uranium mining projects located in a number of Western U.S. states, including one
producing ISR project, mines on standby, and mineral properties in various stages of permitting and development. The Company also
produces vanadium as a co-product of its uranium production from certain of its mines on the Colorado Plateau, as market
conditions warrant. The Company's common shares are listed on the NYSE MKT under the trading symbol "UUUU", and on the Toronto
Stock Exchange under the trading symbol "EFR".
Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward
Looking Information" and "Forward Looking Statements" within the meaning of applicable securities legislation, which may include,
but is not limited to, statements with respect to: the Company being a leading producer of uranium in the U.S;
proactive actions taken by the Company to potentially increase the value of U.S. uranium production through the
submittal of a 232 Petition to the U.S. Department of Commerce; any expectations regarding new sources of revenue through
alternate feed materials and land clean-up work; any unique opportunities the Company may have relative to other uranium
miners; and any other statements regarding Energy Fuels' future expectations, beliefs, goals or prospects; constitute
forward-looking information within the meaning of applicable securities legislation (collectively, "forward-looking statements").
All statements in this news release that are not statements of historical fact (including statements containing the words
"expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects",
"potential", "scheduled", "forecast", "budget" and similar expressions) should be considered forward-looking statements. All such
forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond Energy Fuels'
ability to control or predict. A number of important factors could cause actual results or events to differ materially from those
indicated or implied by such forward-looking statements, including without limitation factors relating to : the
Company being a leading producer of uranium in the U.S; proactive actions taken by the Company to
potentially increase the value of U.S. uranium production through the submittal of a 232 Petition to the U.S. Department of
Commerce; any expectations regarding new sources of revenue through alternate feed materials and land clean-up work; any unique
opportunities the Company may have relative to other uranium miners ; and other risk factors as described in Energy
Fuels' most recent annual report on Form 10-K and quarterly financial reports. Energy Fuels assumes no obligation to
update the information in this communication, except as otherwise required by law. Additional information identifying risks and
uncertainties is contained in Energy Fuels' filings with the various securities commissions which are available online at
www.sec.gov and www.sedar.com.
Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and
plans of the management of Energy Fuels relating to the future. Readers are cautioned that such statements may not be appropriate
for other purposes. Readers are also cautioned not to place undue reliance on these forward-looking statements, that speak only
as of the date hereof.
SOURCE Energy Fuels Inc.