Energy Fuels completes acquisition of Uranium Resources parcel in N.M.

Energy Fuels Corp. said on Monday that it has completed the acquisition of mineral properties from Uranium Resources in an area adjacent to Energy Fuels' Roca Honda Project in New Mexico.

The acquisition area totals approximately 4,580 acres and includes ownership of 36 unpatented lode-mining claims and interests in 131 unpatented lode-mining claims. The Roca Honda project itself is owned by Energy Fuels subsidiary Roca Honda Resources, LLC, and Sumitomo Corp., with a 60 percent/40 percent split.

"We are very pleased to have acquired these key properties, since they have the potential to significantly expand the scale and improve the economics of this major U.S. uranium project," Stephen Antony, Energy Fuels' CEO and president, said. "We believe we have acquired these properties at an attractive price, since we believe we can achieve enhanced project economics through increased future uranium production, additional exploration potential and the possible use of existing on-site infrastructure, including a historic mine shaft located on Section 17. We continue to believe that Roca Honda is one of the true 'flagship' uranium-mining projects in the U.S. today."

The company expects that the additional property will enhance the overall economic value of the Roca Honda project with more uranium resources and potential in the form of lengthened mining life spans and synergy.

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Energy Fuels, Inc.

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