Energy Fuels (NYSE American: UUUU) (TSX: EFR), the leading
producer of uranium in the United States, today announced its entry into an
agreement to acquire from GeoInstruments Logging LLC (“GIL”) all of its Prompt
Fission Neutron (“PFN”) technology, equipment and related intellectual
property. Under the agreement, Energy Fuels will be given the exclusive right
to globally use, license and service this particular PFN technology, which is
critical to successful uranium production, particularly from many in situ
recovery (“ISR”) deposits, as it more accurately measures downhole in-situ U3O8
ore grade versus traditional Total Gamma and Spectral Gamma methods. “Energy
Fuels’ acquisition of this PFN equipment and technology will further solidify
Energy Fuels’ position as the leading uranium miner in the United States,
especially in the ISR space,” Energy Fuels president and CEO Mark S. Chalmers
stated in the news release. “We believe that acquiring PFN technology is now
more important than ever, as we believe a revival of the U.S. uranium industry
is imminent. On April 23, 2020, the U.S. Nuclear Fuel Working Group (“NFWG”)
conclusively described why the U.S. needs healthy uranium and nuclear fuel
industries in order to secure U.S. energy and national security and prevent
Russia, China and other geopolitical rivals from gaining control of global –
and U.S. – nuclear markets.”
To view the full press release, visit http://ibn.fm/65jTk
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-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 in Lakewood, Colorado near Denver, 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.” For more information, visit the
company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates
relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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