Energy Fuels Inc. Reports Mid-Year Uranium Production of 1.6 Million Pounds, On Track for Full-Year Guidance

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements and other critical materials, provided a mid-year update on its U.S. uranium segment, reporting that finished uranium production at its White Mesa Mill in Utah is expected to reach about 1.6 million pounds by June 30, within its full-year guidance range in just six months. The company said it expects to complete its current uranium ore processing campaign by the end of June before resuming ore processing in Q4 2026, while advancing planned rare earth element circuit modifications, conventional mine development and low-cost uranium production across its U.S. assets.

The mid-year achievement underscores Energy Fuels' position as the top U.S. producer of natural uranium concentrate, supplying nuclear utilities. The company's White Mesa Mill is the only fully licensed conventional uranium mill operating in the United States, and it also produces rare earth element products and evaluates medical isotope recovery for emerging cancer therapies. This dual capability positions the company strategically amid growing demand for both nuclear fuel and critical minerals used in clean energy technologies and medical applications.

Energy Fuels is also developing three heavy mineral sands/rare earths projects: the Vara Mada Project in Madagascar, Bahia Project in Brazil, and Donald Project in Australia (through a joint venture with Astron Limited). These projects aim to diversify the company's supply of critical materials, which are essential for electric vehicles, wind turbines, and defense systems. The company's rare earth element circuit modifications at the White Mesa Mill are expected to enhance its capacity to process these materials, reducing reliance on foreign supply chains.

The announcement is significant for investors and the broader energy sector, as it demonstrates operational progress despite challenges in the uranium market. The company's ability to meet production targets within six months indicates efficient management and robust processing capabilities. With uranium prices remaining volatile due to geopolitical tensions and increasing nuclear energy adoption, Energy Fuels' steady output provides stability for nuclear fuel buyers. Moreover, the company's rare earth initiatives align with U.S. government efforts to strengthen domestic supply chains for critical minerals, potentially attracting policy support and investment.

For more details on the mid-year update, visit the full press release at https://ibn.fm/fUP6m. Additional information on Energy Fuels is available in the company's newsroom at http://ibn.fm/UUUU.