Energy Fuels completes acquisition of Bahia Project in Brazil for $21.9M cash

ENERGY FUELS INC

Completed acquisition of 17 mineral concessions in Bahia, Brazil totaling ~15,090 hectares for $21.9M cash.
Commenced sonic drilling program; Phase 1 expected to finish this month totaling 2,250 meters.
Previous 3,300 auger holes indicated significant Ti, Zr, REE near surface; sonic drilling to test deeper.
Plans to calculate initial mineral resource estimate under S-K 1300 and NI 43-101 after Phase 2 drilling.
Acquired to build monazite supply for REE processing; White Mesa Mill modifications to produce separated REE oxides.

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