BLM BluMetric Environmental Inc

Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") announced today
that it has reached a key settlement with two of the Objectors to the Company's
water rights' application for the proposed Pinon Ridge Uranium and Vanadium Mill
(the "Mill"). On Wednesday September 21, a settlement agreement was filed in
State of Colorado District Court, Water Division 4 ("Water Court"), whereby
Energy Fuels settled with Sheep Mountain Alliance ("SMA") and Living Rivers
("LR"), two regional conservation groups who intervened in the water application
as Objectors. In that settlement agreement SMA and LR agreed to withdraw their
opposition to the Company's water rights application in exchange for Energy
Fuels implementing certain environmental and water supply protections. The Water
Judge quickly approved the settlement agreement as an Order of the Court.


This settlement will lead to the Company obtaining a Final Decreed Conditional
Water Right that will provide the water needed to construct and operate the
Pinon Ridge Mill. A similar settlement with the Bureau of Land Management
("BLM") has already been approved by the Court. The only other remaining
Objector, the Colorado Water Conservation Board ("CWCB"), has given preliminary
approval for a settlement pending the purchase of upstream water, which is
readily available from the watershed. 


"This water settlement is a major milestone for Energy Fuels and the Pinon Ridge
Mill," said Steve Antony, President and CEO of Energy Fuels. "In the Western
United States water is scarce and highly significant for all projects. By
settling with all of the Objectors, we will secure the water needed for the Mill
and add flows to the Dolores River for enhanced wildlife and habitat
protection."


Mr. Antony continued, "We were confident of prevailing in Water Court, but we
believe this settlement is in the best interests of Energy Fuels. Perhaps more
importantly, it shows that Energy Fuels and Sheep Mountain Alliance can reach
mutually acceptable agreements that protect the environment." 


About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium mineral
development company. The Company received a Final Radioactive Materials License
from the State of Colorado for the proposed Pinon Ridge Uranium and Vanadium
Mill in March 2011. The Mill will be the first uranium mill constructed in the
United States in over 30 years.


With more than 45,000 acres of highly prospective uranium and vanadium property
located in the states of Colorado, Utah, Arizona, Wyoming, and New Mexico, and
exploration properties in Saskatchewan's Athabasca Basin totaling approximately
32,000 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 British Columbia
subsidiary, Magnum Uranium Corp., has assembled this property portfolio along
with a first class management team, including highly skilled technical mining
and milling professionals based in Lakewood and Naturita, 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.

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