(SYMBOL: "EFR" - TSX)
TORONTO, Feb. 27 /CNW/ - Energy Fuels Inc. (TSX: EFR) is pleased to
announce that on February 21, the Colorado Division of Reclamation, Mining and
Safety approved, with no public objection, the 112d Hard Rock Reclamation
Permit for the Whirlwind Mine located near Gateway, Colorado. Energy Fuels'
permitting team completed this process in only seven months from the July 23,
2007 application submittal date. Approvals for construction of ventilation
shafts on the Utah side of the Whirlwind property and for site air emissions
were also obtained this month from the Utah Division of Oil, Gas, and Mining
and the Colorado Air Pollution Control Division, respectively. The only
remaining permit approval required for full-scale Whirlwind mining operations
is the US Bureau of Land Management "Plan of Operations" anticipated in May,
Energy Fuels President and CEO, George Glasier, stated that, "The receipt
of this permit moves us much closer to becoming the first junior uranium
company to actually reach production since the turnaround in the uranium
business. I am extremely proud of the efforts of our permitting team. Their
hard work, knowledge, and professionalism are responsible for the timely
approval of our permit with the State of Colorado."
Further progress on the ground at the Whirlwind includes mine de-watering
which was completed the end of January, approximately one month ahead of
schedule. The Whirlwind Mine is now 100% accessible to mine crews, from the
portal to the production faces. Energy Fuels will accelerate the clean-up,
drift development, and bulk sampling program at the mine as we continue to
work toward obtaining approval from the BLM for full-scale production.
Completion of de-watering opened up significantly more area in which to
work and Energy Fuels' management chose to move to a more efficient
double-shift schedule at Whirlwind starting the week of February 4. Currently,
there are 7 miners, 2 mechanics, and 1 laborer on the Whirlwind Mine payroll
with three newly approved miner positions being filled.
Energy Fuels also took delivery on a new Atlas Copco Wagner ST-2G
"Scooptram" underground loader in mid-February. This is a 2 1/2 cubic yard
production machine, specifically designed and selected for thin seam
underground mining of the type Energy Fuels will conduct at the Whirlwind
mine. This machine, matched with the 5 and 10 ton haulage vehicles rebuilt by
Energy Fuels, will provide the backbone for the 200 tpd permitted production
tonnage at Whirlwind.
Energy Fuels anticipates mineralized material to be stockpiled at the
mine during the second quarter of 2008, under the prospecting permit now in
Stephen P. Antony, P.E., a Qualified Person as defined by National
Instrument 43-101, has reviewed and approved the content of this press
Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral
exploration and development company actively rehabilitating and developing
formerly producing mines. With more than 40,000 acres of highly prospective
uranium and vanadium property located in the states of Colorado, Utah and
Arizona, the Company has a full pipeline of additional development prospects.
Energy Fuels, through its wholly-owned Colorado subsidiary, Energy Fuels
Resources Corporation, 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.
'George E.L. Glasier'
President & CEO
For further information:
For further information: Energy Fuels Inc.: Gary Steele, Investor
Relations, (303) 974-2147, Toll free: 1-888-864-2125, Email:
firstname.lastname@example.org; The Equicom Group: Martti Kangas, Investor
Relations, (416) 815-0700 x 243, email@example.com