Energy Fuels Increases Measured and Indicated Uranium Resources by 27% with Updated NI 43-101 Technical Reports

Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company"), announced that
the Company has updated the mineral resource estimates on its primary, fully
permitted mining properties (the Whirlwind and Energy Queen Mines), as well as
on its San Rafael project. The updated resource estimates result in a measured
and indicated uranium mineral resource increase of about 27% from 5.1 million
lbs. to more than 6.4 million lbs. U3O8. Inferred mineral resource increased by
about 18% from 3.7 million lbs. to over 4.3 million lbs. Details of the updated
Energy Fuels uranium resource are shown below:




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                       Energy Fuels Mineral Resources                       
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                                                           U3O8             
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                                          Tons          Grade           Lbs.
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Measured                                                                    
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Energy Queen                           136,870          0.29%        789,960
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Indicated                                                                   
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Whirlwind                              169,129          0.30%      1,003,322
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Energy Queen                            86,820          0.35%        605,925
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San Rafael                             758,050          0.23%      3,404,600
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Other Pptys                            157,646          0.20%        642,119
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M & I Total                                                        6,445,926
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Inferred                                                                    
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Whirlwind                              437,100          0.23%      2,000,000
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Energy Queen                            67,780          0.27%        366,250
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San Rafael                             453,850          0.21%      1,859,600
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Other Pptys                             27,600          0.22%        120,000
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Inferred Total                                                     4,345,850
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The growth in resources reported in these updated technical reports came
primarily from adjoining property acquisitions. Significant pounds were added at
San Rafael that became accessible as a result of the Hollie Claims acquisition
from Titan Uranium. There was also new drilling at San Rafael since the earlier
43-101 technical reports were filed. 


So far in the 2011 calendar year, Energy Fuels has increased measured and
indicated U3O8 resources by more than 2.4 million lbs. U3O8, including the
acquisition of the Hollie claims from Titan Uranium. Titan's Hollie resources
were already estimated in accordance with NI 43-101 as a result of earlier work
by Magnum Uranium before it was merged into Energy Fuels. Inferred resources
have increased by about 666,000 lbs. These resource contributions come from the
following sources:




                                         Measured and Indicated     Inferred
                                                           Lbs.         Lbs.
                                      ------------------------- ------------
San Rafael Hollie Claims (already in                                        
 43-101 Resource)                                       983,300             
San Rafael Consolidation                              1,000,000      522,000
Whirlwind Property Acquisition                          236,000             
Energy Queen Property Acquisition                       181,000      144,000
                                      ------------------------- ------------
TOTALS                                                2,400,300      666,000



Steve Antony, President and CEO of Energy Fuels stated, "These additional
resource pounds are a direct result of our consolidation initiative in Colorado
and Utah. We think this is just the beginning of what we can accomplish with a
clear focus and the new investment capital that we are raising." 


The updated resource estimates for the Whirlwind and Energy Queen properties are
set out in technical reports dated March 15, 2011 prepared by Douglas C. Peters,
Certified Professional Geologist, of Peters Geosciences, Golden, Colorado, an
independent qualified person for purposes of NI 43-101. The updated resource
estimate for the San Rafael Property is set out in a technical report dated
March 21, 2011 prepared by O. Jay Gatten, Utah Professional Geologist, an
independent qualified person for purposes of NI 43-101. Copies of the technical
reports are available on SEDAR (www.sedar.com) and on the Company's website
(www.energyfuels.com).


About Energy Fuels: Energy Fuels Inc. is a uranium and vanadium mineral
development company. With more than 38,000 acres of highly prospective uranium
and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming,
and New Mexico, and exploration properties in Saskatchewan's Athabasca Basin
totaling approximately 32,000 additional acres, the Company has a full pipeline
of additional development prospects. Energy Fuels, through its wholly-owned
Colorado subsidiary, Energy Fuels Resources Corporation and its British Columbia
subsidiary, Magnum Uranium Corp., has assembled this property portfolio along
with a first class management team, including highly skilled technical mining
and milling professionals based in Lakewood and Naturita, Colorado and Kanab,
Utah. 


This news release contains certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as
amended and "Forward Looking Information" within the meaning of applicable
Canadian securities legislation. All statements, other than statements of
historical fact, included herein are forward-looking statements and
forward-looking information that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time-to-time with the British Columbia, Alberta and Ontario
Securities Commissions.