News Releases
November 18, 2009
Energy Fuels Inc. (TSX-EFR) (“Energy Fuels” or the “Company”), continues to advance its Piñon Ridge uranium/vanadium milling project toward construction by filing a Radioactive Material License Application (the Application) and Environmental Report (the ER) with the Colorado Department of Public Health and Environment, Radiation Management Program (CDPHE) on November 18, 2009.
George Glasier , President and CEO of Energy Fuels, stated, ”I am confident that the Energy Fuels technical team has prepared a thorough and accurate license application that meets all regulations administered by CDPHE. In progressing to this final stage of approvals, Energy Fuels is clearly moving forward on its plan to construct the first new uranium mill in the US in more than 25 years”.
The Application completes a detailed process started in August of 2007 when site characterization data collection was initiated at the Piñon Ridge Mill site selected by the Company and located 12 miles west of Naturita in western Montrose County , Colorado .
The license review process could take as few as ten months, but no more than fourteen months, underColorado law. Upon issuance of the mill license, Energy Fuels will have the right to construct and operate the Piñon Ridge Mill.
CDPHE’s review process includes a review of the Application for completeness within thirty days of submittal. Once the Application is found to be substantially complete, Energy Fuels must arrange two public meetings in Montrose County ; the first meeting within forty-five days of the finding of completeness and the second within thirty days of the first meeting. Public testimony will be taken at both public meetings.
The Montrose Board of County Commissioners (BOCC) will have ninety days after the first public meeting to provide comments to CDPHE on the Application. CDPHE is required by Colorado statute to render a decision on the Application within 270 days after receipt of the county’s comments, or within 365 days after the second public meeting, if a timely response is not received from the BOCC.
Many of the supporting documents for the Application were filed with CDPHE as completed. These documents along with the filed Application and ER can be viewed at:
http://www.cdphe.state.co.us/hm/rad/rml/energyfuels/index.htm.
Additionally, Energy Fuels is pleased to announce that the Board of Directors has appointed Stephen P. Antony, Executive Vice President and Chief Operating Officer, as a Director of the Company. Mr. Antony has been in his current management role since the fall of 2006.
Stephen P. Antony, P.E., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the content of this press release.
Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral development company actively rehabilitating and developing formerly producing mines. With more than 47,000 acres of highly prospective uranium and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming, and New Mexico, and exploration properties in Saskatchewan’s Athabasca Basin totaling approximately 32,000 additional acres, the Company has a full pipeline of additional development prospects. Energy Fuels, through its wholly-owned Colorado subsidiary, Energy Fuels Resources Corporation and Magnum Uranium subsidiary, has assembled this property portfolio along with a first class management team, including highly skilled technical mining and milling professionals based in Lakewood and Nucla, Colorado and Kanab, Utah.
This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and “Forward Looking Information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time-to-time with the British Columbia , Alberta and Ontario Securities Commissions.
FOR FURTHER INFORMATION PLEASE CONTACT:
Energy Fuels Inc.
Gary Steele
Investor Relations
(303) 974-2147
Toll free: 1-888-864-2125
Email: investorinfo@energyfuels.com
Website: www.energyfuels.com