Uranium next to rally...Yes Buy EFR-TSX

Energy Fuels Announces Additional DOE Lease Acquisitions, Positive Drilling Results, and Grant of Options 10:05 EDT Thursday, July 30, 2009 ( 60 days = sept 30 2009)

TORONTO, ONTARIO--(Marketwire - July 30, 2009) - Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company"), has been informed by the Department of Energy (DOE) that the Company has been awarded two additional DOE lease tracts (C-AM-19-A and C-AM-20) released for bid in the May 2008 DOE lease sale. These tracts are in western Montrose County, Colorado, (within the Uravan Mineral Belt) about 30 highway miles from the Company's Pinon Ridge Mill site currently being permitted.

Based on pre-bid public information provided by DOE in February of 2008, these two tracts combined contain about 2.3 million lbs. of historical resource (not NI 43-101 compliant) in a region of well developed historical mining by Union Carbide Corporation. The DOE data was from an estimate originally prepared by the Atomic Energy Commission (or AEC, predecessor of the DOE), based on US Geological Survey and AEC drilling conducted during 1951 - 1953. AEC/DOE do not apply resource categories or qualifiers. After 1974, private lease holders on these two tracts drilled another 367 holes. The Company has yet to acquire data from the private drilling.

Energy Fuels has also initiated its 2009 drilling program on other Uravan Mineral Belt properties held by the Company in western Colorado. Much of this drilling budget will be applied to exploring DOE leased tracts obtained as announced in May 2008 following the same DOE lease sale referenced above.

Early drilling on the Henry Claim Group in the Club Mesa area encountered a highly mineralized intercept of 4.5 feet with a grade of 0.33% U3O8. Historical data from this area indicates the potential for a V2O5 / U3O8 grade ratio of about 5:1. Drilling is continuing on this claim group and will progress onto the adjacent DOE lease block, (C-CM-24).

Drilling should begin in about 60 days on the HC Claim Block and the contiguous C-G-26 DOE lease, both of which are located on Calamity Mesa. This drilling has been planned utilizing the data on the DOE lease obtained by Energy Fuels as announced February 23, 2009, and is planned to develop additional resources with infill drilling.

Additionally, Energy Fuels has granted 850,000 options for a term of five years to employees, officers, and consultants to the Company.

Stephen P. Antony, P.E., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the content of this press release.

Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral development company actively rehabilitating and developing formerly producing mines. With more than 55,000 acres of highly prospective uranium and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming, Idaho, and New Mexico, and exploration properties in Saskatchewan's Athabasca Basin totaling almost 50,000 additional acres, the Company has a full pipeline of additional development prospects. Energy Fuels, through its wholly-owned Colorado subsidiary, Energy Fuels Resources Corporation and its recently acquired Magnum Uranium subsidiary, has assembled this property portfolio along with a first class management team, including highly skilled technical mining and milling professionals based in Lakewood and Nucla, Colorado and Kanab, Utah.

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and "Forward Looking Information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements and forward looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia, Alberta and Ontario Securities Commissions.

FOR FURTHER INFORMATION PLEASE CONTACT:

Energy Fuels Inc. Gary Steele Investor Relations (303) 974-2147 or Toll free:  1-888-864-2125  investorinfo@energyfuels.com www.energyfuels.com 

Stock markets move higher amid positive industrial reports

Stock markets move higher amid positive industrial reports TheStar.com - Business - Stock markets move higher amid positive industrial reports

September 16, 2009

Malcolm Morrison
THE CANADIAN PRESS

The Toronto stock market closed higher for a fifth session today amid positive industrial data from Canada and the U.S.

The Toronto energy and gold sectors led the way to a gain of 59.77 points to 11,555.6 on the main S&P/TSX composite index, its highest close since the end of September, 2008.

The solid showing followed a report showing that U.S. industrial companies boosted production more than expected in August.

The Federal Reserve says output at U.S. factories, mines and utilities rose 0.8 per cent in August. Economists surveyed by Thomson Reuters expected a 0.6 per cent increase.

"No doubt about it, the U.S. economy is recovering faster than expected, though questions remain about the sustained strength of the expansion," said BMO Capital Markets senior economist Sal Guatieri.

And Statistics Canada reported that manufacturing sales rose 5.5 per cent in July to $41.4 billion, adding to the 2.2 per cent increase reported in June, thanks to improved performances in the motor vehicle and primary metals industries.

Excluding the motor vehicle assembly and motor vehicle parts industries, manufacturing sales increased 2.1 per cent.

"July's strong manufacturing report provides additional force to the case for renewed growth in the third quarter," said TD Bank (TSX: TD) economist Grant Bishop.

"However, with indicators of future shipments easing, we do not anticipate that manufacturing will see rapid gains in the months ahead."

The gold sector was up 0.77 per cent on Wednesday as inflation worries and a weaker U.S. dollar helped push the December bullion contract on the New York Mercantile Exchange up $13.90 to US$1,020.20 an ounce. It earlier reached an intraday high of US$1,023.30, its highest level since March 2008.

On the TSX, Barrick Gold Corp. (TSX: ABX) climbed 39 cents to C$41.09.

The energy sector rose 0.88 per cent as the October crude contract on the New York Mercantile Exchange gained $1.58 to US$72.51 a barrel after the U.S. Energy Information Administration reported a decrease of 4.7 million barrels of oil in the U.S. last week, a bigger decline than the three million barrel drop expected by analysts. Suncor Inc. (TSX: SU) gained 79 cents to C$39.44.

Opti Canada Inc. (TSX: OPC) stock soared 57 cents or 33.93 per cent to $2.25 on heavy trading of 21 million shares on the Toronto Stock Exchange. Opti's sole business is a minority stake in Nexen Inc.'s (TSX: NXY) Long Lake oil sands project.

The reason for the spike wasn't immediately clear, although the company had made a bullish presentation on Tuesday morning at a major oil and gas conference in Calgary. Opti is also frequently the subject of takeover rumours that tend to make its shares volatile.

The Canadian dollar moved up 0.57 of a cent to 93.91 cents US, after rising more than a cent Tuesday amid yet another warning from the Bank of Canada that the strong loonie could derail an economic recovery.

The TSX has racked up a strong series of gains on hopes for a strong recovery and a positive third-quarter earnings season, leaving the market up 52 per cent since the lows of early March and up 28 per cent year to date.

However, analysts think the markets face some stiff headwinds in the near term that could erode those gains, pointing out that the runup has been almost straight up "and the fact that this rally has advanced further than previous rallies coming out of a bear market in the past 50 years," said Phillip Petursson, director of institutional equities at MFC Global Investment Management.

He added that the third and fourth quarters of 2009 could surprise to the upside but if consumers continue to pay down debt and cut spending, "that's going to keep growth somewhat subdued into 2010."

The TSX Venture Exchange climbed 15.19 points to 1,284.54.

New York markets were up sharply as the Dow Jones industrial average rose 108.3 points to 9,791.71.

The Nasdaq composite index moved up 30.51 points to 2,133.15 while the S&P 500 index gained 16.13 points to 1,068.76.

Investors were little swayed Wednesday by the latest report on U.S. consumer prices. The Commerce Department said its consumer price index, a measure of inflation at the retail level, rose 0.4 per cent in August, just above the 0.3 per cent rise economists polled by Thomson Reuters expected.

Excluding volatile energy and food prices, the index rose 0.1 per cent, in line with expectations.

Elsewhere on the TSX, the base metals sector rose 0.34 per cent as the December copper contract jumped 9.15 cents to US$2.9365 a pound. Teck Resources (TSX: TCK.B) gained 75 cents to $30.

In corporate news, the Globe and Mail reported that Magna International Inc.'s (TSX: MG.A) has been told by BMW, the auto parts giant's second-largest customer, that the close relationship between the two companies could be in jeopardy. It said that the German automaker fears Magna will go from parts supplier to competitor if the Canadian company fulfills its goal of leaping into the ranks of mass producers through an ownership stake in Adam Opel GmbH. Magna shares lost $1.92 to $45.09.

Harry Winston Diamond Corp. (TSX: HW) says a winter shutdown at the Diavik mine in Canada's North won't be necessary after all. The shutdown had been scheduled in response to the global economic recession that began about a year ago. Its shares rose 36 cents to $9.52.