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Energy Fuels Renews Its ATM Program

LAKEWOOD, CO, Dec. 29, 2017 /PRNewswire/ - Energy Fuels Inc. (NYSE American:UUUU; TSX:EFR) ("Energy Fuels" or the "Company"), a leading producer of uranium in the United States, is pleased to announce that today the Company has amended its sales agreement with Cantor Fitzgerald & Co. and filed a prospectus supplement to its effective U.S. registration statement on Form S-3 in order to renew its 'at-the-market' program ("ATM").  Under the renewed ATM program the Company may, at its discretion from time to time, sell up to $30 million of common shares, with sales only being made on the NYSE American at then-prevailing market prices, or any other existing trading market of the common shares in the United States.  The prospectus supplement and the accompanying base prospectus relating to this offering have been filed with the U.S. Securities and Exchange Commission ("SEC") and are available on the SEC's website at www.sec.gov.  Copies of the prospectus supplement and the accompanying base prospectus relating to this offering, when available, may be obtained from Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 110 East 59th Street, New York, New York, 10022, telephone: (212) 829-7122.

In the event the ATM is utilized, the Company intends to use the net proceeds to provide the Company with additional financial flexibility and enhanced options with respect to any or all of the following:  (i) to continue to pursue additional revenue-generating activities at the White Mesa Mill, including alternate feed material processing and land clean-up activities; (ii) to continue to finance evaluation of the high-grade uranium and copper mineralization at the Company's Canyon Mine, including further evaluation of processing options at the White Mesa Mill for the copper resources; (iii) to fund wellfield construction at the Company's Nichols Ranch ISR Project in Wyoming, as market conditions warrant; (iv) to continue permitting the Company's projects, including Roca Honda; (v) to repay principal on outstanding indebtedness; and/or (vi) for general corporate needs and working capital requirements.

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 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 American under the trading symbol "UUUU", and on the Toronto Stock Exchange under the trading symbol "EFR".

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.; any expectations about potential revenue-generating activities at the White Mesa Mill; any expectations relating to evaluation of the Company's resources or processing options at the White Mesa Mill; any expectations about permitting any of the Company's projects; any expectations about improvements in market conditions; the successful utilization of the ATM; the use of proceeds from the ATM; 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.; any expectations about potential revenue-generating activities at the White Mesa Mill; any expectations relating to evaluation of the Company's resources or processing options at the White Mesa Mill; any expectations about permitting any of the Company's projects; any expectations about improvements in market conditions; the successful utilization of the ATM; the use of proceeds from the ATM; 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.