Energy Fuels (NYSE American: UUUU) (TSX: EFR), a U.S. producer of rare earth element oxides, and Vulcan Elements, a U.S. manufacturer of rare earth permanent magnets, announced the signing of a Memorandum of Understanding (MOU) to establish a resilient domestic supply chain for rare earth magnets independent of China. Rare earth magnets are critical to commercial and defense applications, including satellites, robotics, AI data centers, semiconductor fabrication, drones, defense systems, electric vehicles, consumer electronics, industrial motors and power tools.

To view the full press release, visit https://ibn.fm/ywwi2

About Energy Fuels

Energy Fuels is a leading U.S.-based critical minerals company, focused on uranium,â?¯rare earth elementsâ?¯, heavy mineral sands, vanadium and medical isotopes. Energy Fuels, which owns and operates several conventional and in-situ recovery uranium projects in the westernâ?¯United States, has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy. Energy Fuels also owns the White Mesa Mill inâ?¯Utah, which is the only fully licensed and operating conventional uranium processing facility inâ?¯theâ?¯United States. At the Mill, Energy Fuels also produces advancedâ?¯rare earthâ?¯products, vanadium oxide (when market conditions warrant), and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy cancer treatments. Energy Fuels is also developing three (3) heavy mineral sands projects: the Toliara Project inâ?¯Madagascar; the Bahia Project inâ?¯Brazil; and the Donald Project inâ?¯Australiaâ?¯in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. Energy Fuels is based inâ?¯Lakewood,â?¯Colorado, nearâ?¯Denver.â?¯The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and its common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR."â?¯

NOTE TO INVESTORS:â?¯The latest news and updates relating to UUUU are available in the company's newsroom atâ?¯http://ibn.fm/UUUU

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