July 07, 2009 09:00 ET
TORONTO, ONTARIO--(Marketwire - July 7, 2009) - Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") completed another major step on the path to permitting the Pinon Ridge Uranium mill in western Montrose County, Colorado. By a unanimous vote of 5 to 0, the Montrose County Planning Commission passed a resolution recommending approval by the 3-person Board of County Commissioners of the Company's Special Use Permit. This Permit will allow the 880 acre site located about 12 miles west of the town of Naturita, Colorado, and acquired by Energy Fuels in July of 2007, to be used for the construction and operation of the mill. Energy Fuels anticipates that the permit will come before the Board of County Commissioners within the next 4 to 6 weeks, for their consideration.
This special use permit process leads to a land use decision at the county level and is separate from the technical licensing process to actually construct and operate the mill. The mill licensing process is administered by the Colorado Department of Public Health and Environment (CDPHE). Energy Fuels has been gathering data to support the license application since the 4th quarter of 2007. The application for the CDPHE license will be submitted this fall.
Once both the Montrose County Special Use Permit and the CDPHE mill license are obtained, Energy Fuels will have authorization to build and operate the Pinon Ridge uranium mill.
George Glasier, Energy Fuels President and CEO, said after the meeting, "The Energy Fuels Team has been working diligently on this permit for almost a year, and we are very happy with the unanimous decision. After 3 separate public meetings in which a total of 15 hours of public testimony were heard from over 100 individuals, the Planning Commission through its vote, confirmed the site selected by Energy Fuels. This decision clearly supports the site selection process applied by the Company to identify this prime mill site two years ago."
Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral development company actively rehabilitating and developing formerly producing mines. With more than 55,000 acres of highly prospective uranium and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming, Idaho, and New Mexico, and exploration properties in Saskatchewan's Athabasca Basin totaling almost 50,000 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 its recently acquired 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.
Energy Fuels Inc.Gary SteeleInvestor Relations(303) 974-2147 or Toll Free: 1-888-864-2125Email: firstname.lastname@example.orgWebsite: www.energyfuels.com
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