Energy Fuels | Page 2

The White

Mesa Mill

2

Integrated U3O8 Producer

Two operating production facilities – one of only three public companies with dual production capabilities.

Conventional Uranium Recovery: The White Mesa Mill is the only fully-licensed and operating conventional uranium mill in the United States, and is expected to produce 600,000 lbs. of uranium in 2016. This facility, which is central to the highest-grade uranium deposits in the U.S., has a licensed capacity to produce over 8 million lbs. of uranium per year.

In Situ Uranium Recovery: Nichols Ranch, one of the newest uranium production centers in the U.S., is expected to produce 350,000 lbs. of uranium in 2016. This low-cost in-situ recovery (“ISR”) processing facility, which is located in the productive Powder River Basin, has a total licensed capacity of 2 million pounds of uranium per year. The company is also acquiring Mesteña Uranium which will add a second ISR production center to the company’s portfolio.

Our story is beginning to be recognized by national media, including favorable mentions and published guest Op-Eds in respected media outlets such as The Denver Post, USA Today, The Boston Globe, The Street, and most recently by Canada's BNN TV (interview with Energy Fuels CEO Stephen Antony depicted to the left). Click images on left to launch BNN video.

*Uranium is the fuel for clean, carbon-free nuclear energy

*Nuclear energy experiencing strong global growth

*U.S. is world’s largest producer of nuclear energy + consumer of uranium

*Energy Fuels is the dominant Conventional + ISR Producer of uranium in the U.S.

*Demand for electricity increasing worldwide

*Over 1 billion people in the World have no access to electricity

*Increasing urgency to combat air pollution + climate change

*Hundreds of billions of dollars being invested in nuclear around the World – right now

*Uranium supplies subject to geopolitical risks not applicable to Energy Fuels

*Current Uranium Requirements > Mine Production

2 operating uranium production facilities (1 of 3 global public companies with dual production capabilities).

Positive Catalysts