Energy Fuels and Uranerz Energy Obtain Shareholder Approval for Transaction Creating a Leading Diversified U.S. Uranium Producer

Energy Fuels Inc. (NYSE MKT: UUUU)(TSX:EFR) ("Energy Fuels") and Uranerz Energy Corporation (NYSE MKT: URZ)(TSX:URZ) ("Uranerz") are pleased to announce that today shareholders of both Energy Fuels and Uranerz approved the acquisition of Uranerz by Energy Fuels (the "Transaction"). Both Energy Fuels and Uranerz held their respective meetings of shareholders, at which time both sets of shareholders approved the Transaction. At this time, all conditions to closing have been satisfied, subject to final U.S. Nuclear Regulatory Commission consent, which is in the final stages of the agency's concurrence process. Pursuant to the Transaction, each Uranerz shareholder will receive 0.255 Energy Fuels common shares for each share of Uranerz common stock held. In addition, all outstanding options and warrants to acquire Uranerz shares of common stock will entitle the holder thereof to acquire 0.255 common shares of Energy Fuels on exercise thereof at an exercise price equal to the exercise price of such option or warrant divided by 0.255.