Energy Fuels Welcomes New President to Lead Critical Minerals Production

Energy Fuels Welcomes New President

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a prominent producer in the critical minerals sector, has recently made an exciting announcement regarding its leadership team. Effective August 4, 2025, Ross R. Bhappu will take on the role of President, succeeding in a role aligned with the company's long-term succession strategies.

Currently, Mark S. Chalmers holds the positions of President, Chief Executive Officer, and Director. He will continue to lead the company as CEO while welcoming Bhappu into the executive team. In making the announcement, Chalmers expressed his enthusiasm about Bhappu's extensive background in mining and private equity, which spans over 35 years. Notably, Bhappu spent nearly 25 years at Resource Capital Funds, focusing on evaluating and supporting projects across the mining and minerals sector.

Chalmers highlighted Bhappu's impressive qualifications, noting his educational credentials, including a Ph.D. in Mineral Economics from the Colorado School of Mines and both B.S. and M.S. degrees in Metallurgical Engineering from the University of Arizona. Bhappu's career commenced with Cyprus Minerals Company, after which he joined Newmont Mining Corporation, where he developed substantial expertise in the marketing of copper concentrates. He also served as CEO of GTN Copper Corporation, where he emphasized the redevelopment of the Cyprus Tahono Copper Project.

Throughout his tenure at Resource Capital Funds, Bhappu played a significant role in the acquisition of Mountain Pass, recognized as the only operational rare earth mine in the U.S. His efforts contributed to the revival of Molycorp, Inc., where he served as Chairman between 2008 and 2013.

Energy Fuels Inc. has established a strong foothold as a U.S.-based critical minerals company, focusing on uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotopes. Over the past few years, the company has been the leading U.S. producer of natural uranium concentrate, supplying nuclear utilities that further refine it for carbon-free energy production. Among its facilities is the White Mesa Mill in Utah, the only fully licensed conventional uranium processing facility currently operational in the U.S.

At the White Mesa Mill, Energy Fuels also produces advanced rare earth element products and has the potential to generate vanadium oxide when market conditions permit. Additionally, the company is exploring the recovery of certain medical isotopes from existing uranium processing streams, crucial for emerging Targeted Alpha Therapy treatments for cancer.

To expand its portfolio, Energy Fuels is also focusing on three new heavy mineral sands projects in Madagascar, Brazil, and Australia, where it is looking to earn up to a 49% stake through a joint venture with Astron Corporation Limited.

Headquartered in Lakewood, Colorado, near Denver, and managing its heavy mineral sands operations from Perth, Australia, Energy Fuels continues to make strides in the critical minerals landscape. The company's common shares trade under the symbol 'UUUU' on the NYSE American and are also listed on the Toronto Stock Exchange (TSX) under the symbol 'EFR.' For further details about the company and its initiatives, visit Energy Fuels.

Cautionary Notes

This press release contains forward-looking statements outlined in U.S. and Canadian securities legislation. While the company is optimistic about its future, these statements involve inherent risks and uncertainties, and actual results may differ. Factors affecting these projections include market fluctuations, regulatory changes, and operational challenges. For a complete overview, consult the company's Annual Reports and disclosures available on EDGAR and SEDAR.