Mr. Mark Chalmers reports

ENERGY FUELS ANNOUNCES ELECTION OF DIRECTORS

Energy Fuels Inc. has released the results of the election of directors at its annual meeting of shareholders held virtually on May 25, 2023.

The 10 nominees proposed by management for election as directors were elected by the shareholders of the company, through a combination of votes by proxy and electronic poll.

                VOTING RESULTS FOR ELECTION OF DIRECTORS

Nominee                  Votes for    % for    Votes withheld   % withheld

J. Birks Bovaird        40,314,043    86.84%        6,109,486        13.16%  
Mark S. Chalmers        44,897,509    96.71%        1,526,020         3.29%  
Benjamin Eshleman III   44,779,891    96.46%        1,643,638         3.54%  
Ivy V. Estabrooke       45,201,656    97.37%        1,221,873         2.63%  
Barbara A. Filas        45,171,479    97.30%        1,252,050         2.70%  
Bruce D. Hansen         44,379,653    95.60%        2,043,876         4.40%  
Jaqueline Herrera       45,135,865    97.23%        1,287,664         2.77%  
Dennis L. Higgs         45,121,354    97.20%        1,302,175         2.80%  
Robert W. Kirkwood      45,135,063    97.22%        1,288,466         2.78%  
Alexander G. Morrison   45,286,508    97.55%        1,137,027         2.45%  

About Energy Fuels Inc.

Energy Fuels is a leading United States-based critical mineral company. The company, as the leading producer of uranium in the United States, mines uranium and produces natural uranium concentrates that are sold to major nuclear utilities for the production of carbon-free nuclear energy. Energy Fuels recently began production of advanced rare earth element materials, including mixed REE carbonate, and plans to produce commercial quantities of separated REE oxides in the future. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is evaluating the recovery of radionuclides needed for emerging cancer treatments. Its corporate offices are in Lakewood, Colo., near Denver, and substantially all its assets and employees are in the United States.

Energy Fuels holds two of America's key uranium production centres: the White Mesa mill in Utah and the Nichols Ranch in situ recovery (ISR) project in Wyoming. The White Mesa mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over eight million pounds of triuranium octoxide per year and has the ability to produce vanadium when market conditions warrant, as well as REE products, from various uranium-bearing ores. The Nichols Ranch ISR project is on standby and has a licensed capacity of two million pounds of U3O8 per year.

The company recently acquired the Bahia project in Brazil, which is believed to have significant quantities of titanium (ilmenite and rutile), zirconium (zircon) and REE (monazite) minerals.

In addition to the production facilities, Energy Fuels also has one of the largest National Instrument 43-101-compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development.

The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol UUUU, and the company's common shares are also listed on the Toronto Stock Exchange under the trading symbol EFR.