Energy Fuels Announces Agreement for Transformational Acquisition of Base Resources, Creating a Global Leader in Critical Minerals Production with a Focus on Uranium, Rare Earth Elements and Heavy Mineral Sands

LAKEWOOD, Colo., April 21, 2024 /CNW/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), a leading U.S. producer of uranium, REEs, and vanadium, is pleased to announce that it has executed a definitive Scheme Implementation Deed (the "SID") with Base Resources Limited (ASX: BSE) (AIM: BSE) ("Base Resources") pursuant to which Energy Fuels has agreed to acquire 100% of the issued shares of Base Resources (the "Transaction") in consideration for (i) 0.0260 Energy Fuels common shares (the "Share Consideration") and (ii) A$0.065 in cash, payable by way of a special dividend by Base Resources to its shareholders (the "Cash Consideration", and together with the Share Consideration, the "Scheme Consideration") for each Base Resources ordinary share held, for a total equity value of approximately A$375 million¹. The Transaction will be effected by way of a scheme of arrangement under Australia's Corporations Act (the "Scheme"). Unless otherwise indicated in this news release, all references to dollars or $ are references to United States dollars.