International Consolidated Uranium Acquisition And Strategic Alliance

VANCOUVER, BC - International Consolidated Uranium Inc. (CUR) and Energy Fuels Inc. reported that CUR has entered into a definitive asset purchase agreement with certain wholly-owned subsidiaries of Energy Fuels (EF Parties) whereby CUR will acquire a portfolio of conventional uranium projects located in Utah and Colorado from the EF Parties. In connection with the closing of the Transaction, the companies have also agreed to enter into toll-milling and operating agreements with respect to the Projects which positions CUR as a potential near-term US Uranium producer subject to an improvement in uranium market conditions and/or CUR entering into acceptable uranium supply agreements.