Energy Fuels Inc. Announces Pinyon Plain Uranium Mine Continues to Outperform

Published: 2025-07-02 08:35:35 ET UUUU

Published on 07/02/2025 at 08:35

Energy Fuels Inc. announced that its Pinyon Plain uranium mine in Arizona continues to significantly exceed previous production estimates. During June 2025, the Company mined 230,661 pounds of U3O8 from the Pinyon Plain mine, resulting in 638,700 total pounds of U3O8 mined in Second Quarter-2025. These elevated mining rates are mainly driven by the high uranium grades at Pinyon Plain which averaged 3.51% U3O8 during the month of June 2025 and 2.23% U3 O8 during the second quarter.

Production and drill results to date indicate that it will be the highest-grade uranium deposit to be mined in the U.S. over the past 30 years, and I believe it is likely to be one of the highest-grade uranium deposits mined in U.S. history. We also believe that increased uranium production is very likely to result in lower unit production costs, which would positively impact our bottom line. In addition, there remains significant additional exploration potential, as the Company is only currently mining approximately 25% of the vertical extent of the prospective ore zone, and recent exceptional drill results in the Juniper zone highlight the potential for additional discovery".

The Company further notes that during Second Quarter-2025, Energy Fuels sold 50,000 pounds of U3O8 on the spot market for an average price of $77.00 per pound. In addition, due to exceptional production from the Company's uranium mines and White Mesa Mill (the only producing conventional uranium mill in the U.S.), the Company expects to complete increasing levels of uranium sales over the next few quarters, including 140,000 pounds of U3 O8 in Third Quarter and 160,000 pounds of U3o8 in Fourth Quarter under its existing portfolio of long-term utility contracts. The Company is based in Lakewood, Colorado, near Denver.

The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR.