Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") announced today
that the State of Colorado sent a strongly worded letter to the U.S. Nuclear
Regulatory Commission ("NRC") on Friday March 16, 2012. In the letter, the State
defends the Pinon Ridge Uranium Mill License ("License") against charges that
the process that resulted in the March 7, 2011 issuance of the License to Energy
Fuels was flawed. The letter to the NRC upholds the validity of the license and
was signed by Dr. Christopher Urbina M.D., Executive Director and Chief Medical
Officer for the Colorado Department of Public Health and Environment ("CDPHE").
Dr. Urbina is a key cabinet member in the administration of Colorado Governor
John Hickenlooper. 


Dr. Urbina's letter can be viewed at:
http://www.energyfuels.com/downloads/03-20-2012PR_1.pdf. 


The State's press release can be viewed at:
http://www.cdphe.state.co.us/release/2012/031612.pdf. 


Energy Fuels' President and CEO, Steve Antony, commented, "We are happy to see
the highest levels of Colorado state government defending the Pinon Ridge Mill
license. We firmly believe that all applicable state and federal laws were
followed meticulously. We hope this issue is resolved quickly and amenably, not
only for Energy Fuels but for the people on Colorado's West Slope who support
this important project."


About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium mineral
development company. The Company recently acquired Titan Uranium Inc., including
the Sheep Mountain Project in the Crooks Gap District of Wyoming. The Company
also received a Final Radioactive Materials License from the State of Colorado
for the proposed Pinon Ridge Uranium and Vanadium Mill in March 2011. The mill
will be the first uranium mill constructed in the United States in over 30
years.


With about 61,000 acres of highly prospective uranium and vanadium properties
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 subsidiaries,
Energy Fuels Resources Corporation, Titan Uranium Inc., and Magnum Uranium
Corp., has assembled this property portfolio along with a first class management
team, including highly skilled technical mining and milling professionals based
in Lakewood and Naturita, 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.
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