ENERGY FUELS INC. (TSE:EFR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

On May 17, 2017, the Board of Directors of Energy Fuels Inc. (the
Company) appointed Robert W. Kirkwood and Benjamin Eshleman III
to the Board of Directors of the Company.

In addition, Mr. Kirkwood has been appointed to and Chairs the
Compensation Committee and has also been appointed to the
Governance and Nominating Committee, and Mr. Eshleman has been
appointed to both the Compensation Committee and Governance and
Nominating Committee.

Mr. Kirkwood is a principal of the Kirkwood Companies, including
Kirkwood Oil and Gas LLC, Wesco Operating, Inc., and United
Nuclear LLC (United Nuclear). United Nuclear, owns a 19% interest
in the Companys Arkose Mining Venture while the Company owns the
remaining 81%. The Company acts as manager of the Arkose Mining
Venture and has management and control over operations carried
out by the Arkose Mining Venture. The Arkose Mining Venture is a
contractual joint venture governed by a venture agreement dated
as of January 15, 2008 entered into by Uranerz Energy Corporation
(a subsidiary of the Company) and United Nuclear (the Venture
Agreement).

As part of the Venture Agreement, the Company prepares proposed
programs and budgets on an annual basis. The proposed programs
and budgets may include exploration programs, pre-feasibility
studies, feasibility studies, mine construction, mining, and
expansion or modification of operation plans. A participant may
elect to participate in an approved program and budget either (i)
in proportion to the participants respective interest in the
Arkose Mining Venture, or (ii) not at all. In the event that a
participant elects not to participate in a program and budget,
then its participating interest in the Venture Agreement is
subject to recalculation in accordance with the Venture Agreement
to reflect the decision not to participate.

The foregoing description of the Venture Agreement does not
purport to be complete and is qualified in its entirety by the
full text of the Venture Agreement, which is filed as Exhibit
99.2 to the Current Report on Form 8-K filed by Uranerz with the
United States Securities and Exchange Commission (the SEC) on
January 22, 2008.

United Nuclear contributed $248,745 to the expenses of the Arkose
Joint Venture in respect of the fiscal year ended December 31,
2016, and based on the budget for the fiscal year ended December
31, 2017, it is projected that United Nuclear will contribute
$308,466 in respect of the current fiscal year.

Mr. Benjamin Eshleman III is President of Mestea LLC, which
became a shareholder of the Company through the Companys
acquisition of Mestea Uranium, L.L.C (now Alta Mesa LLC) in June
2016 to a Membership Interest Purchase Agreement (the Purchase
Agreement) dated March 4, 2016 between Mestea LLC, Jones Ranch
Minerals Unproven, LTD., and Mestea Unproven LTD. (collectively
the Sellers) and Energy Fuels Holdings Corp, an indirect
subsidiary of the Company (EFHC), whereby EFHC acquired from the
Sellers all the membership interests in Mestea Uranium, L.L.C.,
Leoncito Plant, L.L.C., and Leoncito Project, L.L.C. (the
Acquired Companies), in consideration of the issuance of
4,551,284 common shares of the Company to or to the direction of
the Sellers (of which 4,303,032 common shares of the Company are
currently held by the Sellers). In connection with the Purchase
Agreement, one of the Acquired Companies, Leoncito Project,
L.L.C. entered into an Amended and Restated Uranium Testing
Permit and Lease Option Agreement with Mestea Unproven, Ltd.,
Jones Ranch Minerals Unproven, Ltd and Mestea Proven, Ltd.
(collectively the Grantors), which requires Leoncito Project,
L.L.C., to make a payment in the amount of $600,000 to the
Grantors in June 2019 (of which up to 50% may be paid in common
shares of the Company at the Companys election). The Grantors are
managed by Mestea LLC.

to the Purchase Agreement, the acquired properties (the Alta Mesa
Properties) held by the Acquired Companies are subject to a
royalty of 3.125% of the value of the recovered
U_{O8 from the Alta Mesa Properties sold at a price
of $65.00 per pound or less, 6.25% of the value of the recovered
UO8 from the Alta Mesa Properties sold at a price
greater than $65.00 per pound and up to and including $95.00 per
pound, and 7.5% of the value of the recovered UO from
the Alta Mesa Properties sold at a price greater than $95.00 per
pound. The royalties are held by the Sellers, and Mr. Eshleman
and his extended family hold all of the ownership interests in
the Sellers. In addition, Mr. Eshleman and certain members of his
extended family are parties to surface use agreements that
entitle them to surface use payments from the Acquired Companies
in certain circumstances. The Alta Mesa Properties are currently
being maintained on care and maintenance to enable the Company to
restart operations as market conditions warrant. Due to the price
of UO, the Company did not pay any royalty payments or
surface usepayments to the Sellers or to Mr. Eshleman or his
immediate family members in the fiscal year ended December 31,
2016 and does not anticipate paying any royalty payments or
surface use payments to the Sellers or to Mr. Eshleman or his
immediate family members during the fiscal year ending December
31, 2017.}

_{The foregoing description of the Purchase Agreement does not
purport to be complete and is qualified in its entirety to the
full text of the Purchase Agreement, which is filed as Exhibit
10.1 to the Companys Current Report on Form 8-K filed with the
SEC on March 8, 2016.}

_{Item 5.07. Submission of Matters to a Vote of
Security Holders.}

_{The Company held its Annual Meeting of Shareholders (the
Meeting) on May 17, 2016. At the meeting, two proposals were
submitted to the shareholders for approval as set forth in the
Companys definitive proxy statement, filed with the United States
Securities and Exchange Commission on March 29, 2017. In total,
29,065,029 Common Shares were present in person or represented by
proxy at the Meeting, which represented 41.45% of the Common
Shares outstanding and entitled to vote at the Meeting.}

_{Proposal No. 1 Election of Directors. The shareholders
elected all of the directors presented to the shareholders.}

_{Proposal No. 2 Appointment of KPMG as independent auditors
of the Company.}

_{Item 9.01. Financial Statements and
Exhibits.}

About ENERGY FUELS INC. (TSE:EFR)

Energy Fuels Inc. (Energy Fuels) is engaged in conventional and in situ (ISR) uranium extraction and recovery, along with the exploration, permitting and evaluation of uranium properties in the United States. The Company operates through two segments: ISR Uranium and Conventional Uranium. It conducts its ISR activities through its Nichols Ranch Project, located in northeast Wyoming. It conducts its conventional uranium extraction and recovery activities through its White Mesa Mill. It owns the Nichols Ranch Uranium Recovery Facility in Wyoming (the Nichols Ranch Project), which is a uranium recovery facility operating in the United States. In addition, the Company owns the White Mesa Mill in Utah, which is a conventional uranium recovery facility operating in the United States. It also owns uranium and uranium/vanadium properties and projects in various stages of exploration, permitting, and evaluation, as well as fully-permitted uranium and uranium/vanadium projects on standby.

ENERGY FUELS INC. (TSE:EFR) Recent Trading Information

ENERGY FUELS INC. (TSE:EFR) closed its last trading session down -0.03 at 2.25 with 39,084 shares trading hands.