Energy Fuels Agrees to Sell Its Interest in Bayswater Uranium to Mega Uranium

Energy Fuels Inc. (NYSE MKT:UUUU) (TSX:EFR) ("Energy Fuels" or the "Company") is
pleased to announce that it has entered into a Securities Purchase Agreement to
sell all of its shares of Bayswater Uranium Corp. ("Bayswater") to Mega Uranium
Ltd. (TSX:MGA) ("Mega") in exchange for 1,750,000 newly issued common shares of
Mega. Energy Fuels acquired 2,759,807 shares of Bayswater as part of its August
30, 2013 acquisition of Strathmore Minerals Corp. The 2,759,807 shares represent
approximately 11.5% of the issued and outstanding shares of Bayswater. The
transaction is expected to be completed on or before January 17, 2014, or such
other date as the parties may agree, and is subject to various conditions
including acceptance by the Toronto Stock Exchange. The shares of Mega being
acquired by Energy Fuels will be issued on a private placement basis and are
subject to a statutory four-month holding period. 


Stephen P. Antony, President and CEO of Energy Fuels stated: "Energy Fuels and
Mega have an established relationship, and Energy Fuels is already a shareholder
of Mega through a previous non-core asset sale. Mega's market capitalization is
currently significantly lower than the Toro Energy Limited common shares it
received as consideration for its sale of the Maitland Lake uranium project,
which closed on November 19, 2013. Mega also owns other investments, including
about 17% of the currently outstanding shares of NexGen Energy Ltd. Energy Fuels
is pleased to increase its investment in Mega at this time."


About Energy Fuels: Energy Fuels is currently America's largest conventional
uranium producer, supplying approximately 25% of the uranium produced in the
United States. 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 and has a licensed capacity of over
8 million lbs. of U3O8 per year. 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" and on the NYSE MKT
under the trading symbol "UUUU".


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 

This news release contains certain "Forward Looking Information" and "Forward
Looking Statements" within the meaning of applicable Canadian and United States
securities legislation, which may include, but is not limited to, statements
with respect to the closing of the transaction, the relationship between Energy
Fuels and Mega, the value of Mega, Toro, or NexGen shares, and the nature of the
assets discussed or the Company's position in Bayswater and/or Mega. Generally,
these forward-looking statements can be identified by the use of forward-looking
terminology such as "expects" "does not expect", "is expected", "subject to",
"prospective" or "believe", or variations of such words and phrases, or state
that certain actions, events or results "may", "could", or "will be taken", "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
[phone] or Toll free: 1-888-864-2125
[e-mail]
www.energyfuels.com