Energy Fuels' Dysprosium Oxide Qualifies for Automotive Magnet Production, Bolstering U.S. Rare Earth Supply Chain

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) announced that its high-purity dysprosium oxide has successfully passed all initial purity and quality assurance and quality control benchmarks of a major South Korean automotive manufacturer for use in downstream rare earth permanent magnet production. The qualification marks a significant milestone in the company's critical materials strategy, validating its ability to produce separated heavy rare earth oxides from monazite at its White Mesa Mill in Utah, and follows the company's earlier qualification of neodymium-praseodymium oxide for magnet applications.

This development is particularly important because dysprosium is a critical component in high-performance permanent magnets used in electric vehicle motors, wind turbines, and various defense applications. The successful qualification by a major automotive manufacturer demonstrates that Energy Fuels can produce material that meets the exacting standards required for advanced manufacturing applications. Energy Fuels reported it has produced approximately 29 kilograms of dysprosium oxide at pilot scale to date, achieving 99.9% purity, exceeding automotive specifications and underscoring its role in strengthening U.S. and allied rare earth supply chains amid ongoing global supply constraints.

The qualification comes at a time when Western nations are seeking to reduce dependence on Chinese rare earth production, which currently dominates the global market. By establishing domestic production capabilities for separated heavy rare earth oxides like dysprosium, Energy Fuels is helping to create more resilient supply chains for critical technologies. The company's White Mesa Mill in Utah represents a strategic asset as it is the only fully licensed and operating conventional uranium processing facility in the United States that can also process rare earth elements.

This achievement builds upon Energy Fuels' broader strategy to become a diversified supplier of critical materials. The company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy. Energy Fuels also produces advanced rare earth products, vanadium oxide when market conditions warrant, and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams needed for emerging Targeted Alpha Therapy cancer treatments.

The successful qualification of dysprosium oxide represents tangible progress in Energy Fuels' rare earth strategy and demonstrates the technical capability of North American facilities to produce high-purity materials that meet international standards. As global demand for rare earth magnets continues to grow, particularly in the electric vehicle and renewable energy sectors, this development positions Energy Fuels to potentially play a significant role in supplying critical materials to manufacturers seeking diversified and secure supply chains. For more information about the company's activities, visit http://www.energyfuels.com.