Energy Fuels to Host Investor Webcast to Discuss FY-2019 Results

• FY-2019 financial results;
• The status of U.S. government efforts to support domestic uranium miners, including the proposed creation of a U.S. uranium reserve;
• Proactive measures the Company is taking to preserve cash and working capital, including the $16.6 million bought deal financing we completed in February 2020, the Company's response to the COVID-19 virus, and recent market volatility; and
• The status of other cash flow generating initiatives for Energy Fuels, including ongoing alternate feed material processing, progress on land cleanup, and potential rare earth element opportunities.

How to Join the Webcast

To join the webcast, please dial 1-888-664-6392 (toll free in the U.S. and Canada) or 416-764-8659. The webcast slides can be accessed through the following link:

Energy Fuels – Webcast Link

A link to a recorded version of the proceedings will be available shortly after the webcast by calling 1-888-390-0541 (toll free in the U.S. and Canada) or 416-764-8677 and entering the code 434744#. This recording will be available until March 27, 2020.

Commitment to Continued Investor Outreach in the Era of COVID-19

Energy Fuels is committed to doing our part to contain the spread of the COVID-19 virus, including eliminating travel and conference attendance for the time being. At the same time, Energy Fuels believes it is critically important to maintain open lines of communication with the investor community at all times, especially in today's challenging environment. In addition to the webcast this Friday, the Company may host additional conference calls and/or webcasts when we have significant announcements or when otherwise warranted in the coming weeks or months. We will be able to provide investors with a forum to speak directly to Senior Management, while also adhering to the recommendations of authorities related to the novel coronavirus. In addition, anyone is welcome to call or email the Company at any time using the investor contact information at the end of this press release.

About Energy Fuels: Energy Fuels is a leading US-based uranium mining company, supplying U₃O₈ to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant. Its corporate offices are near Denver, Colorado, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers, the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U₃O₈ per year, and has the ability to produce vanadium when market conditions warrant. The Nichols Ranch ISR Project is in operation and has a licensed capacity of 2 million pounds of U₃O₈ per year. The Alta Mesa ISR Project is currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S., and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU", and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.

Cautionary Notes: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but is not limited to, statements with respect to: any expectation as to U.S. government efforts to support domestic uranium miners, including the proposed creation of a U.S. uranium reserve; any expectation as to any proactive measures the Company may be taking to preserve cash and working capital; any expectation as to the Company's response to the COVID-19 virus and recent market volatility and the success of any such responses; any expectation as to the ability of the Company to secure any other cash flow generating initiatives, including alternate feed material processing, land cleanup activities and potential rare earth element opportunities; and any expectation that the Company is or will maintain its position as a leading uranium company in the United States. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: any expectation as to U.S. government efforts to support domestic uranium miners, including the proposed creation of a U.S. uranium reserve; any expectation as to any proactive measures the Company may be taking to preserve cash and working capital; any expectation as to the Company's response to the COVID-19 virus and recent market volatility and the success of any such responses; any expectation as to the ability of the Company to secure any other cash flow generating initiatives, including alternate feed material processing, land cleanup activities and potential rare earth element opportunities; any expectation that the Company is or will maintain its position as a leading uranium company in the United States; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company's website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.



Contact

Energy Fuels Inc., Curtis Moore - VP - Marketing & Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com, www.energyfuels.com