DENVER , July 31, 2025 ~ Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading producer of uranium, rare earth elements, and other critical minerals in the United States, has announced a change in leadership effective August 4, 2025. Mr. Ross R. Bhappu will take on the role of President while Mr. Mark S. Chalmers, the current President and CEO, will continue in his position as CEO and Director.

This transition is part of the company's long-term succession plans and has been met with enthusiasm from both parties involved. In a statement, Mr. Chalmers expressed his excitement for Mr. Bhappu to join the Energy Fuels team and highlighted his extensive experience in mining and private equity.

With over 35 years of experience in the industry, including nearly 25 years with Resource Capital Funds, Mr. Bhappu brings a wealth of knowledge to his new role. He holds a Ph.D degree in Mineral Economics from the Colorado School of Mines and B.S. and M.S. degrees in Metallurgical Engineering from the University of Arizona.

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Mr. Bhappu's professional career began with Cyprus Minerals Company before joining Newmont Mining Corporation where he served in both technical and financial roles. During his time at Newmont, he gained expertise in copper concentrate marketing and later served as CEO of GTN Copper Corporation for three years.

In 2001, Mr. Bhappu joined Resource Capital Funds where he played a key role in acquiring Mountain Pass, the only operating rare earth mine in the U.S., and recreating Molycorp Inc., where he served as Chairman from 2008 to 2013.

Energy Fuels is a critical minerals company focused on uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotopes. The company owns several conventional and in-situ recovery uranium projects in the western United States and has been the leading producer of natural uranium concentrate in the country for several years.

In addition to uranium, Energy Fuels also operates the White Mesa Mill in Utah, the only fully licensed and operating conventional uranium processing facility in the U.S. The company also produces advanced rare earth element products and vanadium oxide, with plans to potentially recover medical isotopes from existing uranium process streams for cancer treatments.

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Energy Fuels is also developing three additional heavy mineral sands projects: the Toliara Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia. The company has a 49% interest in a joint venture with Astron Corporation Limited for the Donald Project.

Headquartered in Lakewood, Colorado, near Denver, Energy Fuels' heavy mineral sands operations are managed from Perth, Australia. The company's common shares are traded on both the NYSE American under "UUUU" and the Toronto Stock Exchange under "EFR."

For more information on Energy Fuels and its operations, please visit http://www.energyfuels.com.

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