Energy Fuels has successfully developed the technical ability it believes is required to commercially produce samarium, gadolinium, dysprosium, terbium, lutetium, yttrium, and other oxides, at scale through expansion of its existing REE production capability in Utah, at the same time President Trump commences Section 232 investigation on imports of processed critical minerals, including the rare earth, uranium, and vanadium oxides produced by Energy Fuels.

DENVER, April 17, 2025 /PRNewswire/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), a leading U.S. producer of uranium, rare earth elements and other critical minerals, today announced that it has successfully developed the technology it believes is required to produce six (6) of the seven (7) rare earth oxides, at scale, that are now subject to newly enacted Chinese export controls, amid increasing trade tensions between the U.S. and China. Energy Fuels' White Mesa Mill in Utah currently has the commercial capacity to process monazite ore concentrates into separated neodymium-praseodymium ("NdPr") oxide. Through its ongoing testwork at the White Mesa Mill, the Company believes it now has the technical knowhow to design, construct, and commission the expansion of its existing infrastructure to produce these six (6) rare earth oxides1 from monazite relatively quickly with appropriate U.S. government support and/or market conditions.