Energy Fuels Announces Resource Expansion and Consolidation Strategy

Energy Fuels Inc. (TSX:EFR) reports that it is planning to expand and consolidate its uranium and vanadium resources on the Colorado plateau in the second half of 2011.

The press release is quoted as saying:

Energy Fuels is actively acquiring mining properties within reasonable haul distance of the Piñon Ridge Mill that will enhance the Company’s existing portfolio of assets. The Company already owns two existing, permitted mines with large known uranium and vanadium resources, the Whirlwind Mine and the Energy Queen Mine. As was reported in an April 14, 2011 press release (please click here to view: http://energyfuels.com/news/index.html#apr14), Energy Fuels’ NI 43-101 compliant uranium and vanadium resource base continues to increase significantly through acquisitions and ongoing drill programs.

Energy Fuels’ President and CEO, Stephen P. Antony says:

“Energy Fuels is quietly assembling an impressive array of properties on the Colorado Plateau. This summer, we intend to expand our resource portfolio even further. In addition to the licensing and construction of the Piñon Ridge Mill, a vital aspect of Energy Fuels’ strategy is to convert historic known resources into compliant NI 43-101 resources through near-term drill programs and data acquisition. Our ultimate goal is to bring these proven and formerly-producing mines back into production and process the material at the Piñon Ridge Mill.”

Click here to access the entire news release.