EFR Energy Fuels Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Energy Fuels Inc. ("Energy Fuels") (TSX:EFR) and Denison Mines Corp. ("Denison")
(TSX:DML)(NYSE MKT:DNN)(NYSE Amex:DNN) are pleased to announce that the Ontario
Superior Court of Justice has issued a final order approving the plan of
arrangement (the "Arrangement") whereby Energy Fuels will acquire all of the
shares of the subsidiaries holding Denison's U.S. mining assets and operations
(the "US Mining Division"), as well as all of the inter-company debt between
Denison and the US Mining Division.


Pursuant to the Arrangement, Denison will complete a reorganization transaction
which will result in Denison shareholders receiving approximately 1.106 common
shares of Energy Fuels per Denison common share held, while retaining their
interest in Denison. After the Arrangement, Denison shareholders will hold the
same number of common shares of Denison as were held prior to the Arrangement.
Further information about the Arrangement is set out in the management
information circulars of Energy Fuels and Denison, each dated May 28, 2012,
which are available on www.sedar.com.


Assuming that all other conditions set out in the Arrangement Agreement dated
May 23, 2012 between Energy Fuels and Denison are satisfied or waived, the
Arrangement is expected to become effective at 11:59 p.m. on June 29, 2012.


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 

Certain information contained in this news release, including any information
relating to the completion of the Arrangement between Energy Fuels and Denison
and any other statements regarding Energy Fuels' or Denison's future
expectations, beliefs, goals or prospects constitute forward-looking information
within the meaning of applicable securities legislation (collectively,
"forward-looking statements"). All statements in this news release that are not
statements of historical fact (including statements containing the words
"expects", "does not expect", "plans", "anticipates", "does not anticipate",
"believes", "intends", "estimates", "projects", "potential", "scheduled",
"forecast", "budget" and similar expressions) should be considered
forward-looking statements. All such forward-looking statements are subject to
important risk factors and uncertainties, many of which are beyond Energy Fuels'
and Denison's ability to control or predict. A number of important factors could
cause actual results or events to differ materially from those indicated or
implied by such forward-looking statements, including without limitation: that
receipt of third party and regulatory approvals required for the Arrangement may
not be obtained on the terms expected or on the anticipated schedule; the
parties' ability to meet expectations regarding the timing, completion and
accounting and tax treatments of the Arrangement; the volatility of the
international marketplace; and other risk factors as described in Energy Fuels'
and Denison's most recent annual information forms and annual and quarterly
financial reports.


Energy Fuels and Denison assume no obligation to update the information in this
communication, except as otherwise required by law. Additional information
identifying risks and uncertainties is contained in Energy Fuels' and Denison's
respective filings with the various provincial securities commissions which are
available online at www.sedar.com. Forward-looking statements are provided for
the purpose of providing information about the current expectations, beliefs and
plans of the management of each of Energy Fuels and Denison relating to the
future. Readers are cautioned that such statements may not be appropriate for
other purposes. Readers are also cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.


This news release and the information contained herein does not constitute an
offer of securities for sale in the United States. The securities to be issued
pursuant to the Arrangement have not been, and will not be, registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption from such
registration requirements.

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