Energy Fuels Granted Mine Permit for Sheep Mountain Uranium Project

Energy Fuels Inc. (NYSEMKT:UUUU, TSX:EFR) has been granted a mine permit for the 100%-owned Sheep Mountain Project by that the State of Wyoming. The Sheep Mountain Project is a conventional uranium project in the Crooks Gap Mining District of central Wyoming, and one of the largest uranium development projects in the USA. In order to place the Sheep Mountain Project into production, a final environmental impact statement from the U.S. Bureau of Land Management and a facility to process the ore from this property is also required. In January 2015, the BLM issued a draft EIS, and Energy Fuels expects the BLM to issue a final EIS and approve the Plan of Operations by mid-2016. The Company is currently evaluating processing options, including the permitting and construction of a new onsite heap leach facility or the use of an existing third party milling facility in the region.
As quoted in the press release:

Energy Fuels Inc. (NYSE MKT: UUUU, TSX: EFR) (“Energy Fuels” or the “Company”) is pleased to announce that the State of Wyoming has granted the Company approval for a major revision to the existing mining permit for its 100%-owned Sheep Mountain Project, including expansion of surface and underground mining. This is considered a major milestone in the permitting process for this facility. The Sheep Mountain Project is a conventional uranium project located in the Crooks Gap Mining District of central Wyoming, and one of the largest uranium development projects in the U.S. today. The project was formerly operated by Western Nuclear from the 1950’s to the 1980’s, at which time the mine was shut down due to low uranium prices.

Energy Fuels President and CEO, Stephen P. Antony, said:

With over 30 million pounds of uranium resources, the Sheep Mountain Project is one of the largest and most important uranium projects in the U.S. Receipt of the mining permit is a key achievement for Energy Fuels, as we work to ready this project for mining.

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