First Energy Fuels (UUUU) Corporate Media Kit

WHY MONAZITE? A HIGHLY VALUABLE RARE EARTH MINERAL, CURRENTLY PRODUCED AT EXISTING MINES • Monazite sand is currently produced as a byproduct of heavy mineral sand (HMS) mining • U.S., Australia, Brazil, Africa & elsewhere • Main target metals at HMS mines are zirconium & titaniumminerals, with monazite sand recovered as a low-cost byproduct • Monazite is very high-grade • ~53% - 55%TREO (Total Rare EarthOxides) • Some fromAustralia is over 60%TREO • Monazite also contains uranium & other radionuclides • Monazite has superior distributions of REEs needed for permanent REE magnets (%TREO Basis): • ~22.6% NdPr + ~14.4% “Heavies” (1.5% Dy +Tb) • For comparison, typical U.S. “bastnaesite” ore contains only ~16.3% NdPr + ~1.1% “Heavies” 1 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% La Ce Pr Nd Sm Eu Gd Tb Dy Ho Y Er Tm Yb Lu Average REE Distribution of S.E. U.S. Monazite (%TREO Basis) 1 Source: “A Lanthanide Lanthology” by Barry Kilborn 10 “Light” Rare Earths “Heavy” Rare Earths Energy Fuels does not plan to mine rare earths; we plan to produce advanced REE materials