EFR Energy Fuels Inc

Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") is pleased to
announce that the merger of Energy Fuels and Magnum Uranium Corp. was
successfully completed effective June 30, 2009. With the closing of this
transaction, Magnum shareholders became shareholders of Energy Fuels on the
basis of 0.78 shares of Energy Fuels for each Magnum common share held.


As previously reported, this transaction provides Energy Fuels with
significantly more resource to develop for mill feed at the Company's Pinon
Ridge mill, and more cash to develop the mill and mines. Additionally, the
Company now has a Wyoming ISR property with exciting potential and is a partner
in an exploration project in Canada's Athabasca Basin. This addition of assets
provides a broader platform and a significant first step for additional
consolidation in Energy Fuel's area of interest.


Energy Fuels' President & CEO, George Glasier said at closing, "We welcome the
former shareholders of Magnum Uranium as shareholders of Energy Fuels. We know
that the resources formerly held by Magnum will be developed profitably for the
uranium market more quickly through the combination with Energy Fuels, than
through any other method."


Stephen P. Antony, P.E., a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the content of this press release.


Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral development
company actively rehabilitating and developing formerly producing mines. With
more than 55,000 acres of highly prospective uranium and vanadium property
located in the states of Colorado, Utah, Arizona, Wyoming, Idaho, and New
Mexico, and exploration properties in Saskatchewan's Athabasca Basin totaling
almost 50,000 additional acres, the Company has a full pipeline of additional
development prospects. Energy Fuels, through its wholly-owned Colorado
subsidiary, Energy Fuels Resources Corporation, has assembled this property
portfolio along with a first class management team, including highly skilled
technical mining and milling professionals based in Lakewood and Nucla, 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.

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