Energy Fuels and Vulcan Elements Partner to Establish U.S. Rare Earth Magnet Supply Chain

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of rare earth element oxides, and Vulcan Elements, a U.S. manufacturer of rare earth permanent magnets, have announced the signing of a Memorandum of Understanding to establish a resilient domestic supply chain for rare earth magnets independent of China. This strategic partnership addresses growing concerns about supply chain vulnerabilities and national security risks associated with foreign dependence on these critical materials.

Rare earth magnets are essential components in numerous commercial and defense applications, including satellites, robotics, artificial intelligence data centers, semiconductor fabrication, drones, defense systems, electric vehicles, consumer electronics, industrial motors, and power tools. The collaboration between Energy Fuels and Vulcan Elements represents a significant step toward securing America's technological and defense infrastructure by creating a self-sufficient supply chain for these vital components.

The partnership leverages Energy Fuels' expertise in rare earth element production and Vulcan Elements' manufacturing capabilities in rare earth permanent magnets. Energy Fuels operates several conventional and in-situ recovery uranium projects in the western United States and owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the country. The company has been the leading U.S. producer of natural uranium concentrate for the past several years and also produces advanced rare earth products at its Utah facility.

This initiative comes at a critical time when global supply chain disruptions and geopolitical tensions have highlighted the vulnerabilities of relying on foreign sources for essential materials. The establishment of a domestic rare earth magnet supply chain will enhance national security, support technological innovation, and create American jobs in the critical minerals sector. Investors and stakeholders can access additional information through the company's newsroom at http://ibn.fm/UUUU.

The broader implications of this partnership extend beyond immediate supply chain security. By reducing dependence on foreign sources, the United States can better control the quality, pricing, and availability of these critical materials, which are fundamental to the nation's technological advancement and defense capabilities. The collaboration also supports the growing electric vehicle industry and renewable energy sector, both of which rely heavily on rare earth magnets for efficient operation.

This development represents a significant milestone in America's efforts to rebuild its domestic manufacturing capabilities and secure its position in the global technology landscape. The partnership between Energy Fuels and Vulcan Elements demonstrates how strategic collaborations between industry leaders can address critical national needs while driving innovation and economic growth in essential sectors.