Strategic Alliance Acquisition Completed

TORONTO - Consolidated Uranium Inc. (CUR) and Energy Fuels Inc. announced the closing of the acquisition of a portfolio of conventional uranium projects located in Utah and Colorado pursuant to the asset purchase agreement among CUR and certain wholly-owned subsidiaries of Energy Fuels (“EF Parties”). In connection with the closing of the Transaction, the companies have also entered into toll-milling, operating and investor rights agreements with respect to the Projects.

Philip Williams, President and CEO of CUR, said, “This is a seminal moment for Consolidated Uranium. With the closing of this acquisition and entering into of the toll-milling and operating agreements, CUR is firmly established as a U.S. uranium player with near term production potential from a portfolio of past producing mines with a clear pathway to production from guaranteed access to the White Mesa Mill. We have been very busy in the background putting plans in place to accelerate development of these projects and look forward to updating the market on that plan in due course. Finally, on behalf of myself and the rest of the directors of CUR, I would formally like to welcome Mark to the Board and look forward to working closely together as we advance this exciting portfolio of projects.”