Market Overview

Energy Fuels Enters Into Strategic Relationship Agreement With KEPCO

Energy Fuels. (NYSE MKT: UUUU) is pleased to announce that it has entered into a Strategic Relationship Agreement (the "SRA") with Korea Electric Power Corporation ("KEPCO"). KEPCO (NYSE: KEP) is the largest electric utility in South Korea, responsible for 93% of South Korea's electricity generation and the development of nuclear power projects worldwide. The South Korean government owns a 51% equity interest in KEPCO. On the 2013 Fortune Global 500 ranking of the world's largest companies, KEPCO was ranked 235. KEPCO is also a member of the World Energy Council, the World Nuclear Association and the World Association of Nuclear Operators. KEPCO is Energy Fuels' largest shareholder, and an affiliate of KEPCO is Energy Fuels' largest uranium customer, based on FY-2013 deliveries. Mr. Eun Ho Cheong, KEPCO's Vice President of Overseas Resources Project Development, is a member of Energy Fuels' board of directors. The key objectives of the SRA are to establish a long term and strategic collaborative business relationship and to promote the development of each company's business. The SRA addresses a number of areas of interest for both Energy Fuels and KEPCO,

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