Energy Fuels Announces High-Grade Uranium Intercepts at Nichols Ranch ISR Project
Energy Fuels Inc. (NYSE MKT: UUUU; TSX: EFR) (�Energy Fuels� or the �Company�), a leading producer of uranium in the United States, is pleased to announce that it has intercepted several large and high-grade areas of mineralization in the next wellfield expected to go into production at its Nichols Ranch ISR Project (�Nichols Ranch�) in Wyoming, USA. On August 1, 2016, the Company began delineation drilling and the installation of the wellfield to be associated with Header House 9 at Nichols Ranch. Currently, four rigs are being utilized to drill pilot holes, ream, case, and complete the injection and recovery wells for this wellfield. Header House 9 is expected to begin producing uranium later in 2016.
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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 NI 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�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�.
Stephen P. Antony, P.E., President & CEO of Energy Fuels, is a Qualified Person as defined by Canadian National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain information contained in this news release, including any information relating to: the Company being a leading producer of uranium in the U.S.; the Companies expectation that Header House 9 will contain 120 wells and goes into production later in 2016; the results of drilling completed to date and the amount of recoverable uranium implied by that drilling; the Company�s belief that this will be the largest and most productive wellfield at Nichols Ranch to date; Nichols Ranch continuing to exceed the Company�s expectations; 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.; the Companies expectation that Header House 9 contains 120 wells and goes into production later in 2016; the results of drilling completed to date and the amount of recoverable uranium implied by that drilling; the Company�s belief that this will be the largest and most productive wellfield at Nichols Ranch to date; Nichols Ranch continuing to exceed the Company�s expectations; 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.
Investor Relations Inquiries:
Energy Fuels Inc. Curtis Moore � VP � Marketing & Corporate Development (303) 974-2140 or Toll free: (888) 864-2125 investorinfo@energyfuels.com www.energyfuels.com |