Energy Fuels' Strategic Advantages for REE Production
Historical Auger Hole
Mineral Concession to be Acquired by Energy Fuels
The Bahia Project (Brazil)
Control of Low-Cost REE Deposit in Allied Nation
Potential to supply REE-bearing monazite to the White Mesa Mill for decades
Completed acquisition in February 2023
Low-cost, long-term source of monazite (rare earths), titanium (ilmenite & rutile) &
zirconium (zircon)
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· Potential to produce 3,000 - 10,000 MT monazite sand per year (1,500 - 5,000 MT TREO)1
58.3 square mile land position (~37,300 acres) on 17 mineral concessions
Several exploration & mining permits in place
Well-defined HMS mineralization
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At and near surface; relatively simple mining/concentrating methods
~3,300 historic holes drilled to water table (~5.86 meters depth) show significant mineralization
Sonic drilling program underway
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Confirming that HMS & REE mineralization continues below water table
Phase 1 drilling (2,250 meters) completed in Q1-2023; Phase 2 drilling to commence in late Q4-2023
• Plan to release S-K 1300 Initial Assessment (US) and NI 43-101 Technical Report (Canada) in 2024
PRADO
ALCOBAÇA
CARAVELAS
Brazil
Bahia
Project
Rio de Janeiro
São Paulo
Mes
D
2%
10
Kilometers
New sonic drill rig being delivered to site, initial bulk test work complete (awaiting results) & commencing community engagement program
1 Depending on production rates
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