Energy Fuels Announces Closing of $5 Million Bought Deal

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Energy Fuels Inc. (TSX:EFR) (the "Company") is pleased to announce that it has
closed the previously announced bought deal offering (the "Offering") of
31,250,000 common shares (the "Common Shares") at a price of $0.16 per Common
Share for aggregate gross proceeds of $5,000,000. The Offering was conducted by
way of a short form prospectus dated October 9, 2013 through a syndicate of
underwriters led by Dundee Securities Ltd., Cantor Fitzgerald Canada
Corporation, and Haywood Securities Inc. (the "Underwriters"). The Underwriters
have been granted an option to purchase up to an additional 15% of the Offering,
exercisable in whole or in part at any time up to 30 days after the closing
date. In addition, 1,548,125 compensation warrants were issued to the
Underwriters pursuant to the Offering.


The Company intends to use the net proceeds of the Offering for continued
exploration and development of the Company's Roca Honda, Sheep Mountain, Gas
Hills, Juniper Ridge and Canyon Mine mineral properties, the identification and
evaluation of future potential mineral property acquisitions and for working
capital and general corporate purposes.


About Energy Fuels

Energy Fuels is America's largest conventional uranium producer, supplying
approximately 25% of the uranium produced in the U.S. The Company is also a
significant producer of vanadium. Energy Fuels operates the White Mesa Mill,
which is the only conventional uranium mill currently operating in the U.S. The
mill is capable of processing 2,000 tons per day of uranium ore. Energy Fuels
has projects located throughout the Western U.S., including producing mines and
mineral properties in various stages of permitting and development. The
Company's common shares are listed on the Toronto Stock Exchange under the
trading symbol "EFR".


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain "Forward-Looking Information" within the
meaning of applicable Canadian securities legislation, which may include, but is
not limited to, statements with respect to the future financial or operating
performance of the Company and its projects. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
"plans", "expects" "does not expect", "is expected", "is likely", "budget"
"scheduled", "estimates", "forecasts", "intends", "anticipates", "does not
anticipate", or "believes", or variations of such words and phrases, or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur", "be achieved" or "have the potential to". All
statements, other than statements of historical fact, herein are considered to
be forward-looking statements. Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements express or implied by the
forward-looking statements. Factors that could cause actual results to differ
materially from those anticipated in these forward-looking statements are
described under the caption "Risk Factors" in the Company's Annual Information
Form dated December 20, 2012, which is available for review on the System for
Electronic Document Analysis and Retrieval at www.sedar.com. Forward-looking
statements contained herein are made as of the date of this news release and the
Company disclaims, other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information, results,
future events, circumstances, or if management's estimates or opinions should
change, or otherwise. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Energy Fuels Inc.
Curtis H. Moore
Investor Relations
(303) 974-2140
investorinfo@energyfuels.com
www.energyfuels.com
Energy Fuels (TSX:EFR)
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