Energy Fuels Achieves U.S. Rare Earth Breakthrough With NdPr Oxide Validated for EV Motors

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium and critical minerals, announced that high-purity neodymium-praseodymium (NdPr) oxide from its White Mesa Mill in Utah has been successfully manufactured into commercial-scale rare earth permanent magnets by South Korea's largest drive unit motor core producer. The rare earth permanent magnets passed all quality assurance and quality control benchmarks for use in electric vehicle drive units sold to major automakers worldwide.

This milestone establishes a U.S.-based "mine-to-magnet" supply chain independent of China, with Energy Fuels' NdPr oxide validated for high-temperature drive units expected in electric vehicles and hybrids within months. The achievement demonstrates Energy Fuels' ability to deliver commercial-grade rare earth materials, addressing a critical vulnerability in the global supply chain for electric vehicle components. The company plans to add heavy rare earth oxide capacity at White Mesa Mill in 2026, further expanding its domestic production capabilities.

The validation of U.S.-produced NdPr oxide represents a significant advancement in reducing dependence on foreign sources for critical materials essential to the clean energy transition. Rare earth elements are crucial components in electric vehicle motors, wind turbines, and various high-tech applications. The successful manufacturing and testing of these magnets using domestically sourced materials could have far-reaching implications for national security, economic stability, and environmental sustainability.

Energy Fuels operates several conventional and in-situ uranium projects in the western United States and owns the White Mesa Mill, which is the only operating conventional uranium mill in the country. The mill also houses the company's commercial-scale rare earth processing circuits, positioning Energy Fuels as a key player in the domestic critical minerals supply chain. Additional information about the company's developments is available in their newsroom at http://ibn.fm/UUUU.

The breakthrough comes at a time when global demand for electric vehicles is accelerating rapidly, creating increased pressure on rare earth supply chains. By establishing a reliable domestic source for these critical materials, Energy Fuels is helping to secure the future of clean transportation while supporting American manufacturing and technological leadership. The successful validation of their NdPr oxide marks a crucial step toward building a resilient and sustainable supply chain for the electric vehicle industry.