Energy Fuels Announces Updated Preliminary Feasibility Study and Improved Economics for Sheep Mountain Project

TORONTO, ONTARIO–(Marketwire – March 1, 2012) – Energy Fuels Inc. (TSX:EFR) (“Energy Fuels” or the “Company”) is pleased to announce that it has completed an update to the Preliminary Feasibility Study (PFS), originally reported by the Company’s wholly owned subsidiary Titan Uranium on April 12, 2010, for Energy Fuels’ 100% owned Sheep Mountain uranium project in Fremont County, Wyoming. All currency amounts reported in this release are quoted in US dollars.