Pinyon Plain Mine Has Record Monthly Production

DENVER, CO - Energy Fuels Inc. reported that uranium mining rates at its Pinyon Plain mine in Arizona reached record levels in April, while the ongoing underground drill program at the mine delivers exceptional new results. During April 2025, the Company mined 4,604 tons of ore, containing roughly 151,400 pounds of uranium with an average grade of 1.64% eU3O8 at its Pinyon Plain mine, which the Company believes is one of the highest-grade uranium mines in U.S. history. Production rates at the mine have steadily increased over the past several months, with April's results representing the largest monthly production rate since mining began last year. Furthermore, as mined ore grades so far are significantly higher than the gamma probe grades from previous drill programs, the Company believes it will mine considerably more uranium from the Main Zone of the deposit versus what is described in the Technical Report on the Pre-Feasibility Study on the Pinyon Plain Project (PFS) prepared in February 2023 in accordance with S-K 1300 and NI 43-101.

In addition to the increase in production, the Company is pleased to announce exceptional results from its 2024 – 2025 underground drill program in another area of mineralization at the Pinyon Plain mine called the "Juniper Zone." The February 2023 PFS includes a Mineral Resource estimate for the Juniper Zone of 703,000 pounds of U3O8 at an average grade of 0.95% contained in 37,000 tons of Indicated Mineral Resources, in addition to a small amount of Inferred Mineral Resources. New drill results show numerous additional high-grade intercepts within the Juniper Zone and other zones within the deposit, which together have the potential to significantly increase the mineable uranium resources at the mine.

49 core holes were completed in the Juniper Zone drilling program. All drill holes targeted the Juniper Zone and were completed from two underground drill stations. The Company believes drill results confirm that the Juniper Zone is another very high-grade zone of uranium mineralization. The Company is planning to conduct additional drilling in the Juniper Zone as it continues development of that area.