Energy Fuels Announces Q1-2021 Results, Including Robust Balance Sheet, Continued Readiness to Supply Uranium into the U.S. Uranium Reserve when Established & Continued Ramp-up to Commercial Rare Earth Production; Webcast on Monday, May 17, 2021

LAKEWOOD, Colo., May 13, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the quarter ended March 31, 2021. The Company’s annual report on Form 10-K has been filed with the U.S. Securities and Exchange Commission (" SEC ") and may be viewed on the Electronic Document Gathering and Retrieval System (" EDGAR ") at www.sec.gov/edgar.shtml , on the System for Electronic Document Analysis and Retrieval (" SEDAR ") at www.sedar.com , and on the Company’s website at www.energyfuels.com . Unless noted otherwise, all dollar amounts are in U.S. dollars.

Highlights: At March 31, 2021, the Company had $60.37 million of working capital, including $44.11 million of cash and marketable securities and $27.98 million of inventory, including approximately 690,800 pounds of uranium and 1,672,000 pounds of high-purity vanadium in the form of immediately marketable product.

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