White Mesa Mill Has Produced Over One Million Pounds of U3O8

DENVER, CO – Energy Fuels Inc. reported that the Pinyon Plain Mine in Arizona and La Sal Complex in Utah have mined over 1.6 million pounds of uranium in 2025, exceeding the top end of previously reported guidance by about 11%. The Company is currently mining at the rate of approximately 2.0 million pounds of recoverable uranium contained in ore per year from the “Main Zone” at Pinyon Plain and the La Sal Complex, which is expected to continue at least through 2026 at this mining rate. The Company plans to complete substantial additional exploration drilling in the “Juniper Zone” at Pinyon Plain in 2026 to further delineate the ore body and potentially expand the mineable resource at the mine. Further development work continues at the Company’s fully permitted and substantially developed Whirlwind, Energy Queen and Nichols Ranch Mines for future mining.
The Company’s White Mesa Mill in Utah (the “Mill”) has produced more than one million pounds of finished U3O8 during 2025, with over 350,000 pounds of U3O8 produced in the month of December alone. This exceeds the top end of previously reported guidance. The Company expects to continue milling at current milling rates, averaging approximately 250,000 pounds of U3O8 per month, through the first half of 2026 and, as previously announced, expects to shift to the commercial-scale production of the heavy rare earths dysprosium (“Dy”) and terbium (Tb) for the remainder of the year, which would mark the first U.S. commercial production of highly sought heavy rare earths in many years. As the Company expects to continue to mine uranium ore at its Pinyon Plain and La Sal mines during all of 2026, uranium ore mined during the second half of 2026 and not processed at the Mill into finished U3O8 during the year will be added to the Mill’s already significant inventory of uranium ore available for processing in 2027.