TORONTO, ONTARIO--(Marketwire
- March 24, 2011) - Energy Fuels Inc. (TSX:EFR) ("Energy
Fuels" or the "Company"), reported the approval of the
Radioactive Materials License by the Colorado Department of Public
Health and Environment for the 500 ton per day Pinon
Ridge uranium/vanadium mill facility on January 6, 2011. In that news
release, information was provided concerning the targeted production
rates for the proposed Pinon Ridge mill, as
well as targeted mining production rates for Energy Fuels' Whirlwind
and Energy Queen properties. The Company wishes to advise investors
that the targeted production rates, life of mine and projected pounds
per year of uranium and vanadium production set out in the January 6,
2011 news release have not been supported by an independent economic
assessment, as required by NI 43-101, and these estimates should not be
relied upon.
About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium mineral
development company. With more than 38,000 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 its British Columbia subsidiary,
Magnum Uranium Corp., has assembled this property portfolio along with
a first class management team, including highly skilled technical
mining and milling professionals based in Lakewood and Naturita, 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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