News Releases

May 15, 2007

Toronto, Ontario – May 15, 2007 Energy Fuels Inc. (TSX: EFR) (“Energy Fuels” or the “Company”) wishes to comment on recent heavy volume and the decline in the value of its shares.  The Company is not aware of any fundamental change to explain this share activity.  George Glasier, President and CEO stated, “I wish to confirm my personal commitment to the Energy Fuels stakeholders, Energy Fuels management, our technical team, and to the execution of our corporate strategy.  Our strategy is tracking on target and on budget as the Company progresses to production.  The budget is fully funded. The annual general and special meeting is at our offices in Lakewood, Colorado, Wednesday, May 16, 2007 at 3:00 PM and Steve Antony and I will be providing a corporate update at that time.”  The Company will continue to announce developments as they occur.
Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral exploration and development company with more than 30,000 acres of highly prospective uranium and vanadium property located in the States of Colorado, Utah and Arizona. The Company, through its wholly-owned Colorado subsidiary, Energy Fuels Resources Corporation, 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.

‘George E.L. Glasier’

President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Website: www.energyfuels.com

 (The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.)