Energy Fuels Extends Expiry Date of Certain Outstanding Warrants

LAKEWOOD, COLORADO--(Marketwired - May 29, 2015) - Energy Fuels Inc. (NYSE MKT:UUUU)(TSX:EFR) ("Energy Fuels" or the "Company") is pleased to announce that it intends to extend the expiry dates of two different series of previously issued common share purchase warrants, in each case by one year.

The warrants which the Company proposes to extend are as follows:

1. An aggregate of 355,000 warrants (the "2012 Warrants") issued on June 21, 2012 as part of a private placement, having an original expiry date of June 22, 2015. Each 2012 Warrant entitles the holder to purchase one common share of the Company at a price of Cdn$13.25 per share; and
2. An aggregate of 464,859 warrants (the "2013 Warrants") issued on June 13, 2013 as part of a private placement, having an expiry date of June 15, 2015. Each 2013 Warrant entitles the holder to purchase one common share of the Company at a price of Cdn$9.50 per share.

The Company has applied to the Toronto Stock Exchange (the "TSX") to extend the expiry date of the 2012 Warrants to June 21, 2016, provided that in the event that the trading price of the Company's common shares on the TSX shall exceed Cdn$19.875 (being 150% of the exercise price of the 2012 Warrants) for any period of twenty consecutive trading days (a "Selected Period"), the Company would have the right (but not the obligation) to accelerate the expiry date of the 2012 Warrants to a date which is not less than 30 days after the date on which the Company gives notice of such accelerated expiry date to the holders of the 2012 Warrants.

Additionally, the Company has applied to the TSX to extend the expiry date of the 2013 Warrants to June 15, 2016, provided that in the event that the trading price of the Company's common shares on the TSX shall exceed Cdn$13.50 (being 150% of the exercise price of the 2013 Warrants) for a Selected Period, the Company would have the right (but not the obligation) to accelerate the expiry date of the 2013 Warrants to a date which is not less than 30 days after the date on which the Company gives notice of such accelerated expiry date to the holders of the 2013 Warrants.