Energy Fuels Closer to Full Production at the Whirlwind Mine
TORONTO, Feb. 27, 2008 (Canada NewsWire via COMTEX News Network) --
(SYMBOL: "EFR" - TSX)
Energy Fuels Inc. (TSX: EFR) is pleased to announce that on February 21, the Colorado Division of Reclamation, Mining and Safety approved, with no public objection, the 112d Hard Rock Reclamation Permit for the Whirlwind Mine located near Gateway, Colorado. Energy Fuels' permitting team completed this process in only seven months from the July 23, 2007 application submittal date. Approvals for construction of ventilation shafts on the Utah side of the Whirlwind property and for site air emissions were also obtained this month from the Utah Division of Oil, Gas, and Mining and the Colorado Air Pollution Control Division, respectively. The only remaining permit approval required for full-scale Whirlwind mining operations is the US Bureau of Land Management "Plan of Operations" anticipated in May, 2008.
Energy Fuels President and CEO, George Glasier, stated that, "The receipt of this permit moves us much closer to becoming the first junior uranium company to actually reach production since the turnaround in the uranium business. I am extremely proud of the efforts of our permitting team. Their hard work, knowledge, and professionalism are responsible for the timely approval of our permit with the State of Colorado."
Further progress on the ground at the Whirlwind includes mine de-watering which was completed the end of January, approximately one month ahead of schedule. The Whirlwind Mine is now 100% accessible to mine crews, from the portal to the production faces. Energy Fuels will accelerate the clean-up, drift development, and bulk sampling program at the mine as we continue to work toward obtaining approval from the BLM for full-scale production.
Completion of de-watering opened up significantly more area in which to work and Energy Fuels' management chose to move to a more efficient double-shift schedule at Whirlwind starting the week of February 4. Currently, there are 7 miners, 2 mechanics, and 1 laborer on the Whirlwind Mine payroll with three newly approved miner positions being filled.
Energy Fuels also took delivery on a new Atlas Copco Wagner ST-2G "Scooptram" underground loader in mid-February. This is a 2 1/2 cubic yard production machine, specifically designed and selected for thin seam underground mining of the type Energy Fuels will conduct at the Whirlwind mine. This machine, matched with the 5 and 10 ton haulage vehicles rebuilt by Energy Fuels, will provide the backbone for the 200 tpd permitted production tonnage at Whirlwind.
Energy Fuels anticipates mineralized material to be stockpiled at the mine during the second quarter of 2008, under the prospecting permit now in place
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 exploration and development company actively rehabilitating and developing formerly producing mines. With more than 40,000 acres of highly prospective uranium and vanadium property located in the states of Colorado, Utah and Arizona, 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.
<< 'George E.L. Glasier' President & CEO Website: www.energyfuels.com >>
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