NetworkNewsBreaks – Energy Fuels Inc. (NYSE Amer

NetworkNewsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) and Penn State Team to Collaborate on US DOE Rare Earth Initiative

Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, today announced that it has been advised by the U.S. Department of Energy (“DOE”) Office of Fossil Energy (“FE”) and the National Energy Technology Laboratory (“NETL”) of their intent to award a contract to Energy Fuels, working with a team from Penn State University, to evaluate and develop a conceptual design to allow for the commercial production of mixed rare earth oxides (“REO”) from coal-based resources in an environmentally benign fashion. In addition, the DOE has the option to award Energy Fuels a contract for the completion of a feasibility study on this initiative. “We are excited to have the opportunity to work with the DOE office of Fossil Energy, the National Energy Technology Laboratory and Penn State on this important rare earth initiative,” said Mark S. Chalmers, president and CEO of Energy Fuels, in the press release. “Energy Fuels has been carrying out substantial work over the past year to explore the potential for implementing a commercial rare earth recovery and processing program at our White Mesa Mill. This initiative to produce REOs from coal-based resources is complementary to our ongoing efforts and will potentially broaden the sources of REE feedstock available to us in the future. We also hope this project opens the door for us to work with the DOE and other agencies on future rare earth initiatives.”

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