EFR Energy Fuels Inc

Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company"), reported the
approval of the Radioactive Materials License by the Colorado Department of
Public Health and Environment for the 500 ton per day Pinon Ridge
uranium/vanadium mill facility on January 6, 2011. In that news release,
information was provided concerning the targeted production rates for the
proposed Pinon Ridge mill, as well as targeted mining production rates for
Energy Fuels' Whirlwind and Energy Queen properties. The Company wishes to
advise investors that the targeted production rates, life of mine and projected
pounds per year of uranium and vanadium production set out in the January 6,
2011 news release have not been supported by an independent economic assessment,
as required by NI 43-101, and these estimates should not be relied upon. 


About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium mineral
development company. With more than 38,000 acres of highly prospective uranium
and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming,
and New Mexico, and exploration properties in Saskatchewan's Athabasca Basin
totaling approximately 32,000 additional acres, the Company has a full pipeline
of additional development prospects. Energy Fuels, through its wholly-owned
Colorado subsidiary, Energy Fuels Resources Corporation and its British Columbia
subsidiary, Magnum Uranium Corp., has assembled this property portfolio along
with a first class management team, including highly skilled technical mining
and milling professionals based in Lakewood and Naturita, Colorado and Kanab,
Utah.


This news release contains certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as
amended and "Forward Looking Information" within the meaning of applicable
Canadian securities legislation. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time-to-time with the British Columbia, Alberta and Ontario
Securities Commissions.

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