<SEC-DOCUMENT>0001062993-18-001480.txt : 20180403
<SEC-HEADER>0001062993-18-001480.hdr.sgml : 20180403
<ACCEPTANCE-DATETIME>20180403125213
ACCESSION NUMBER:		0001062993-18-001480
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180403
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180403
DATE AS OF CHANGE:		20180403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENERGY FUELS INC
		CENTRAL INDEX KEY:			0001385849
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36204
		FILM NUMBER:		18732374

	BUSINESS ADDRESS:	
		STREET 1:		225 UNION BLVD., SUITE 600
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228
		BUSINESS PHONE:		303-974-2140

	MAIL ADDRESS:	
		STREET 1:		225 UNION BLVD., SUITE 600
		CITY:			LAKEWOOD
		STATE:			CO
		ZIP:			80228
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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   <TITLE>Energy Fuels Inc.: Form 8-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES</FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT><BR></B><B>Washington, D.C.
20549</B></P>
<P align=center><B><FONT size=5>FORM 8-K</FONT></B></P>
<P align=center><B>CURRENT REPORT<BR></B><B>Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934 </B></P>
<P align=center>Date of Report (Date of earliest event reported): <B>March 29,
2018 </B></P>
<P align=center><B><U><FONT size=5>ENERGY FUELS INC.</FONT></U><BR></B>(Exact
name of registrant as specified in its charter) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR vAlign=top>
    <TD align=center><U><B>Ontario </B></U></TD>
    <TD align=center width="33%"><U><B>001-36204 </B></U></TD>
    <TD align=center width="33%"><U><B>98-1067994 </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction of incorporation) </TD>
    <TD align=center width="33%">(Commission File Number) </TD>
    <TD align=center width="33%">(I.R.S. Employer </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=center width="33%">Identification No.) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B>225 Union Blvd., Suite 600 </B></TD>
    <TD align=center width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center><U><B>Lakewood, Colorado </B></U></TD>
    <TD align=center width="50%"><U>&nbsp;<B>80228 </B></U></TD></TR>
  <TR vAlign=top>
    <TD align=center>(Address of principal executive offices) </TD>
    <TD align=center width="50%">(Zip Code) </TD></TR></TABLE>
<P align=center><B><U>(303) 974-2140</U><BR></B>(Registrant&#146;s telephone number,
including area code) </P>
<P align=center><B><U>N/A</U><BR></B>(Former name or former address, if changed
since last report) </P>
<P align=justify style="text-indent:5%">Check the appropriate box below
if the Form 8-K is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: </P>
<P align=justify style="margin-left: 5%">[&nbsp; ]&nbsp; Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P>
<P align=justify style="margin-left: 5%">[&nbsp; ]&nbsp; Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify style="margin-left: 5%">[&nbsp; ]&nbsp; Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d
-2(b)) </P>
<P align=justify style="margin-left: 5%">[&nbsp; ]&nbsp; Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) </P>
<P align=justify style="text-indent:5%">Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the
Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (&#167;240.12b -2 of this chapter). </P>
<P align=right>Emerging growth company&nbsp; [&nbsp;X ]</P>
<!--$$/page=--><A name=page_2></A>
<P align=justify>If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act.&nbsp; [&nbsp; ]</P>
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<P align=justify><B>Item 1.01 Entry into a Material Definitive Agreement.</B>
</P>
<P align=justify>On March 29, 2018, Energy Fuels Inc. (the &#147;<B>Company</B>&#148;)
entered into a consulting agreement (the &#147;<B>Consulting Agreement</B>&#148;) by and
among the Company and Liviakis Financial Communications, Inc. (the
&#147;<B>Consultant</B>&#148;), effective October 1, 2017.</P>
<P align=justify>Under the Consulting Agreement, the Consultant will provide
investor communications and financial public relations services with existing
and prospective shareholders, brokers, dealers and other investment
professionals relating to the Company&#146;s current and proposed activities, and
consult with the Company&#146;s management concerning such activities.</P>
<P align=justify>The initial term (the &#147;<B>Initial Term</B>&#148;) of the Consulting
Agreement is from October 1, 2017 to September 30, 2018. The term of the
Consulting Agreement may be extended at the end of the Initial Term and
thereafter on a yearly basis for up to an additional three years after the end
of the Initial Term, by the mutual agreement of the parties. The Consulting
Agreement may be cancelled by the Company at the end of any calendar quarter.
</P>
<P align=justify>The fees payable to the Consultant are $120,000 per calendar
quarter, payable in arrears at the end of each quarter for services performed
during the quarter. Subject to approval of the Consulting Agreement by the
Shareholders of the Company at the Company&#146;s Annual and Special Meeting of
Shareholders currently scheduled to be held on May 30, 2018 (the
&#147;<B>Meeting</B>&#148;), the fees will be payable in Common Shares of the Company
(&#147;<B>Common Shares</B>&#148;). During the Initial Term, all Common Shares will be
issued at the price of US$1.9395 per share (the &#147;<B>Initial Term Share
Price</B>&#148;), which is the volume weighted average trading price of the Common
Shares on the NYSE American for the 5 trading days ending on and including
December 18, 2017 (the day before the December 19, 2017 Board meeting at which
the Consulting Agreement was authorized to be entered into). All fees earned
from October 1, 2017 through the date of the Meeting will be accrued and will
not have been paid at the time of the Meeting. If the Shareholders of the
Company approve the Consulting Agreement at the Meeting, all accrued fees up to
the date of the Meeting will be paid at that time in Common Shares at the
Initial Term Share Price of US$1.9395 per share. If the shareholders of the
Company do not approve the Consulting Agreement at the Meeting, then all accrued
fees up to the date of the Meeting will be paid in cash in an amount equal to
80% of the product of the number of Common Shares that would otherwise have been
issued under the Consulting Agreement up to that time multiplied by the volume
weighed average price of the Common Shares on the NYSE American for the five
trading days ending on the day before the Meeting, and all other fees payable
under the Consulting Agreement after the date of the Meeting will be paid in
cash. </P>
<P align=justify>The parties will agree to the annual compensation for each
one-year term extension, if any, and the Common Shares issuable during any such
one-year extension period will be re-priced based on the volume weighted average
price of the Common Shares on the NYSE American for the 5 trading days ending on
the day prior to the beginning of the extended term, provided that the number of
shares issued under the Consulting Agreement for the Initial Term and for all
extended terms shall not exceed 900,000 Common Shares in total without further
shareholder approval.</P>
<P align=justify>The Consulting Agreement is considered a security-based
compensation arrangement under Toronto Stock Exchange rules, and the issuance of
Common Shares thereunder must be approved by the Company&#146;s shareholders at the
Meeting. </P>
<P align=justify>The foregoing description of the Consulting Agreement and
related fees is qualified in its entirety by reference to the Consulting
Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on
Form 8-K and which is hereby incorporated by reference into this Item 1.01.</P>
<P align=justify><B>Item 3.02 Unregistered Sales of Equity Securities.</B> </P>
<P align=justify>The Common Shares to be issued pursuant to the Consulting
Agreement have not been registered under the U.S. Securities Act of 1933, as
amended, (the &#147;<B>U.S. Securities Act</B>&#148;) or any state securities laws of any
state of the United States and are &#147;restricted securities&#148; within the meaning of
Rule 144(a)(3) of the U.S. Securities Act. The Common Shares will be issued to
the Consultant pursuant to the exemption from the registration requirements of
the U.S. Securities Act provided by Rule 506(b) of Regulation D under the U.S.
Securities Act and/or Section 4(a)(2) of the U.S. Securities Act.</P>
<P align=justify>The Consulting Agreement is described in Item 1.01 of this
Current Report on Form 8-K and such disclosure is incorporated into this Item
3.02. </P>
<P align=center>2</P>
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<P align=justify><B>Item 9.01 - Financial Statements and Exhibits</B> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B><U>Exhibit</U></B> </TD>
    <TD align=left width="92%"><B><U>Description</U></B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee ><a href="exhibit1-1.htm">1.1</a> </TD>
    <TD align=left width="92%" bgColor=#eeeeee><a href="exhibit1-1.htm">Consulting Agreement, dated
      March 29, 2018, by and between Energy Fuels Inc. and Liviakis Financial
      Communications, Inc.</a> </TD></TR></TABLE>
<P align=center>3</P>
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<P align=center><B>SIGNATURES</B> </P>
<P align=justify>Pursuant to the requirements of the Securities Exchange Act of
1934, the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%"><B>ENERGY FUELS INC.</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">(Registrant) </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Dated: April 3, 2018 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%">By:
      <I>/s/ </I>David C. Frydenlund </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">David C. Frydenlund </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Chief Financial Officer, General Counsel </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">and Corporate Secretary </TD></TR></TABLE>
<P align=center>4</P>
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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>exhibit1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<P align=center><B><U>CONSULTING AGREEMENT</U></B><B> </B></P>
<P align=justify style="text-indent:5%"><B>This Consulting Agreement (the
&#147;Agreement&#148;)</B>, effective as of October 1, 2017 (the &#147;Effective Date&#148;), is
entered into by and between <B>ENERGY FUELS INC.</B>, having an office at 225
Union Blvd., Suite 600, Lakewood, CO 80228 (herein referred to as
&#147;<B>Company</B>&#148;), and <B>LIVIAKIS FINANCIAL COMMUNICATIONS, INC.</B>, a
California corporation, having its headquarters at 655 Redwood Hwy., Suite 395,
Mill Valley, CA (herein referred to as &#147;<B>Consultant</B>&#148;). Company and
Consultant are sometimes referred to herein individually as a &#147;<B>party</B>&#148; and
collectively as the &#147;<B>parties</B>.&#148;</P>
<P align=center><B>RECITALS </B></P>
<P align=justify><B>WHEREAS,</B> Company desires to engage the services of
Consultant to represent Company in investor communications and financial public
relations with existing and prospective shareholders, brokers, dealers and other
investment professionals with respect to Company&#146;s current and proposed
activities, and to consult with Company&#146;s management concerning such activities;
</P>
<P align=center><B>AGREEMENT </B></P>
<P align=justify><B>NOW THEREFORE, </B>in consideration of the mutual
obligations contained herein, the parties agree as follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>1)</B> </TD>
    <TD>
      <P align=justify><B><U>Initial Term</U></B><B>. </B>Company hereby agrees
      to retain the Consultant as an independent contractor to act in a
      consulting capacity to Company upon the terms and conditions hereinafter
      set forth, and Consultant hereby agrees to provide such services to
      Company commencing on the Effective Date and ending on September 30, 2018
      (the &#147;<B>Initial Term</B>&#148;), unless earlier terminated pursuant to Section
      13 of this Agreement or extended pursuant to Section 2 of this
      Agreement..</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>2)</B> </TD>
    <TD>
      <P align=justify><B><U>Extension Period(s)</U></B><B>. </B>The Initial
      Term of this Agreement may be extended at the end of the Initial Term for
      a one-year period and at the end of each of the next two years thereafter
      for an additional one-year period, for a total of up to three one-year
      extension periods after the end of the Initial Term (each an &#147;<B>Extension
      Period</B>&#148;), by mutual agreement of the parties. The Initial Term as so
      extended is referred to herein as the &#147;<B>Term</B>&#148; of this Agreement. Any
      such one-year extensions shall be determined by the parties in advance of
      the then current Term&#146;s expiration.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>3)</B> </TD>
    <TD>
      <P align=justify><B><U>Duties of Consultant</U></B><B>. </B>Subject to all
      applicable laws, regulations, and stock exchange rules, Consultant agrees
      that it will generally provide the following consulting
  services:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify>consult and assist Company in developing and implementing
      appropriate plans and means for presenting Company and its business plans,
      strategy and personnel to the financial community, establishing an image
      for Company in the financial community, and creating the foundation for
      subsequent financial public relations efforts;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify>introduce Company to the financial community;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">c) </TD>
    <TD>
      <P align=justify>with the cooperation of Company, maintain an awareness
      during the term of this Agreement of Company&#146;s plans, strategy and
      personnel, as they may evolve during such period, and consult and assist
      Company in communicating appropriate information regarding such plans,
      strategy and personnel to the financial community;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">d) </TD>
    <TD>
      <P align=justify>assist and consult with Company with respect to its (i)
      relations with stockholders, (ii) relations with brokers, dealers,
      analysts and other investment professionals, and (iii) financial public
      relations generally;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">e) </TD>
    <TD>
      <P align=justify>perform the functions generally assigned to stockholder
      relations and public relations departments in major corporations,
      including responding to telephone and written inquiries (which may be
      referred to Consultant by Company); preparing reports and other communications with
      or to shareholders, the investment community and the general public;
      consulting with respect to the timing, form, distribution and other
      matters related to such reports and communications; and, at Company&#146;s
      request and subject to Company&#146;s securing its own rights to the use of its
      names, marks, and logos, consulting with respect to corporate symbols,
      logos, names, the presentation of such symbols, logos and names, and other
  matters relating to corporate image;</P></TD></TR></TABLE>
<P align=center>1 </P>
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  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">f) </TD>
    <TD>
      <P align=justify>upon Company&#146;s direction and approval, disseminate
      information regarding Company to shareholders, brokers, dealers, other
      investment community professionals and the general investing
  public;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">g) </TD>
    <TD>
      <P align=justify>upon Company&#146;s approval, conduct meetings, in person or
      by telephone, with brokers, dealers, analysts and other investment
      professionals to communicate with them regarding Company&#146;s plans, goals
      and activities, and assist Company in preparing for press conferences and
      other forums involving the media, investment professionals and the general
      investment public;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">h) </TD>
    <TD>
      <P align=justify>at Company&#146;s request, review business plans, strategies,
      mission statements budgets, proposed transactions and other plans for the
      purpose of advising Company of the public relations implications
      thereof;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">i) </TD>
    <TD>
      <P align=justify>assist Company in raising capital through introductions
      (it is understood Consultant is not an &#147;investment banking&#148; firm and may
      not receive any commission for such introductions); and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">j) </TD>
    <TD>
      <P align=justify>otherwise perform as Company&#146;s consultant for public
      relations and relations with financial
professionals.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Consultant will not publish or
distribute electronically or otherwise any written materials relating to Company
or its business or affairs without the prior written approval of Company. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR>
    <TD vAlign=top width="5%"><B>4)</B> </TD>
    <TD>
      <P align=justify><B><U>Allocation of Time and Energies</U></B><B>.
      </B>Consultant agrees to perform and discharge faithfully the
      responsibilities which may be assigned to Consultant from time to time by
      the officers and fully authorized representatives of Company in connection
      with the conduct of its financial and public relations and communications
      activities, so long as such activities are in compliance with applicable
      securities laws and regulations. Although no specific hours-per-day
      requirement will be required, Consultant agrees that it will perform the
      duties set forth in this Agreement in a diligent and professional manner.
      It is explicitly understood that Consultant&#146;s performance of its duties
      hereunder will in no way be measured by the price of the Company&#146;s common
      shares (&#147;<B>Common Shares</B>&#148;), nor the trading volume of the Common
      Shares. It is also understood that Company is entering into this Agreement
      with Consultant, and not any individual member of Consultant. Consultant
      will not be deemed to have breached this Agreement if any member, officer
      or director of Consultant leaves the firm or dies or becomes physically
      unable to perform any meaningful activities during the term of the
      Agreement, provided Consultant otherwise performs its obligations under
      this Agreement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>5)</B> </TD>
    <TD>
      <P
align=justify><B><U>Compensation</U></B><B>.</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify><I>Fees.</I></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>As full and complete compensation for
undertaking this engagement and for performance of the services described
herein, Company shall pay to Consultant: </P>
<P style="MARGIN-LEFT: 10%" align=justify>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During the Initial Term,
US$120,000 per calendar quarter, payable in arrears, at the end of each quarter
for services performed during the quarter; and </P>
<P style="MARGIN-LEFT: 10%" align=justify>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During each Extension Period, an
amount per calendar quarter, payable in arrears, at the end of each quarter for
services performed during the quarter, to be determined by mutual agreement of
the parties prior to commencement of the Extension Period. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify><I>Fees Payable in Common
Shares</I></P></TD></TR></TABLE>
<P align=center>2 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P style="MARGIN-LEFT: 5%" align=justify>Subject to receipt of shareholder
approval in accordance with Section 7 below, and subject to Section 5 e) below,
all fees payable hereunder during the Term of this Agreement shall be paid in
Common Shares at the applicable issue price (the &#147;<B>Issue Price</B>&#148;)
determined in accordance with Section 5 c) below. If shareholder approval is not
obtained in accordance with Section 7 b) below, all fees payable under this
Agreement shall be paid in cash in the manner specified in Section 5 d) below
for the Initial Term and as may be mutually agreed by the parties for any
Extension Period. </P>
<P style="MARGIN-LEFT: 5%" align=justify>The resale of all Common Shares issued
under this Agreement shall be restricted in accordance with Rule 144 under
(&#147;<B>Rule 144</B>&#148;) the Securities Act of 1933 (the &#147;<B>Securities Act</B>&#148;), as
adopted by the U.S. Securities and Exchange Commission (&#147;<B>SEC</B>&#148;) and
applicable Canadian securities laws and Toronto Stock Exchange rules. All of the
Common Shares to be issued in the Initial Term were duly authorized by Company&#146;s
Board of Directors on December 19, 2017. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">c) </TD>
    <TD>
      <P align=justify><I>Determination of Issue
Price.</I></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>The Issue Price will be determined as
follows: </P>
<P style="MARGIN-LEFT: 10%" align=justify>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Issue Price for all Common
Shares issued during the Initial Term shall be US$1.9395 per share, which is the
volume weighted average price of the Common Shares on the NYSE American for the
5 trading days ending on and including December 18, 2017 (the day before the
December 19, 2017 Board meeting at which this Agreement was approved); and </P>
<P style="MARGIN-LEFT: 10%" align=justify>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Issue Price for all Common
Shares issued during any Extension Period shall be the volume weighted average
price of the Common Shares on the NYSE American for the 5 trading days ending on
the day prior to commencement of such Extension Period.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">d) </TD>
    <TD>
      <P align=justify><I>Fees to be paid in Initial
Term.</I></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>All fees earned under this Agreement
from October 1, 2017 through the date of the annual meeting of shareholders of
the Corporation currently scheduled to be held on May 30, 2018 (the
&#147;<B>Meeting</B>&#148;) will be accrued and will not be paid until the date of the
Meeting. If shareholder approval is obtained in accordance with Section 7 b)
below, all such accrued fees up to the date of the Meeting will be paid on the
date of the Meeting in Common Shares at the Issue Price. If shareholder approval
is not obtained in accordance with Section 7 b) below, all accrued fees up to
the date of the Meeting will be paid on the date of the Meeting in cash in an
amount equal to 80% of the value of the Common Shares that would otherwise have
been issued under this Agreement up to that time, based on the volume weighed
average price of the Common Shares on the NYSE American for the five trading
days ending on the day before the Meeting, and all other fees payable under this
Agreement after the date of the Meeting will be paid in cash. </P>
<P style="MARGIN-LEFT: 5%" align=justify>The fees payable for services during
the calendar quarter ending on June 30, 2018 that are not paid on the date of
the Meeting, shall be paid on June 30, 2018. The fees payable for services
during the calendar quarter ending on September 30, 2018 shall be paid on that
date.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">e) </TD>
    <TD>
      <P align=justify><I>Maximum Number of Shares to be Issued Under this
      Agreement.</I></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Notwithstanding any other provision in
this Agreement, the maximum number of Common Shares that may be issued under
this Agreement shall not exceed 900,000 Common Shares in total, without prior
approval of the shareholders of the Corporation, and without prior receipt of
all applicable regulatory and stock exchange approvals.</P>
<P align=center>3 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>6)</B> </TD>
    <TD>
      <P align=justify><B><U>Restricted
  Securities</U></B><B>.</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify><U>Consultant Representations &amp; Warranties</U>.
      Consultant acknowledges, represents, warrants and agrees as
  follows:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Common Shares will be issued by Company to Consultant
      in reliance on the exemption from Canadian prospectus and registration
      requirements set out in Section 2.24 of National Instrument 45-106 &#150;
      <I>Prospectus and Registration Exemptions </I>adopted by the Canadian
      Securities Administrators, and are not subject to a hold period under
      Canadian securities laws and regulations. Consultant acknowledges and
      confirms that it has not been induced to accept the Common Shares in
      partial satisfaction of its compensation hereunder by expectation of the
      engagement or continued engagement of Consultant to provide services to
      Company or its affiliates;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Consultant has had the opportunity to ask questions of
      and receive answers from Company regarding the acquisition of the Common
      Shares, and has received all the information regarding Company that it has
      requested;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>Consultant acknowledges that the Common Shares are highly
      speculative in nature and Consultant has such sophistication and
      experience in business and financial matters as to be capable of
      evaluating the merits and risks of the investment. In connection with the
      delivery of the Common Shares, Consultant has not relied upon Company for
      investment, legal or tax advice, or other professional advice, and has in
      all cases sought or elected not to seek the advice of its own personal
      investment advisers, legal counsel and tax advisers. Consultant is able,
      without impairing its financial condition, to bear the economic risk of,
      and withstand a complete loss of the investment and it can otherwise be
      reasonably assumed to have the capacity to protect its own interests in
      connection with its investment in the Common Shares;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>Consultant acknowledges that Company may be required to
      file a report of trade with applicable Canadian securities regulators
      containing personal information about Consultant and that Company may also
      be required pursuant to applicable securities laws to file this Agreement
      on SEDAR and EDGAR. By executing this Agreement, Consultant authorizes the
      indirect collection of the information described in this Section by all
      applicable securities regulators and consents to the disclosure of such
      information to the public through (i) the filing of a report of trade with
      all applicable securities regulators and (ii) the filing of this Agreement
      on SEDAR and EDGAR;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>Consultant acknowledges that the Common Shares have not
      been and will not be registered under the Securities Act, or applicable
      state securities laws, and the Common Shares are being offered and sold to
      Consultant in reliance upon Rule 506(b) of Regulation D and/or Section
      4(a)(2) under the Securities Act;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>Consultant is an Accredited Investor as defined in Rule
      501(a) of Regulation D under the Securities Act;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vii) </TD>
    <TD>
      <P align=justify>Consultant acknowledges that it is not acquiring the
      Common Shares as a result of &#147;general solicitation&#148; or &#147;general
      advertising&#148; (as such terms are used in Regulation D under the Securities
      Act), including without limitation, advertisements, articles, notices or
      other communications published in any newspaper, magazine or similar media
      or on the internet, or broadcast over radio or television or on the
      internet, or any seminar or meeting whose attendees have been invited by
      general solicitation or general advertising;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(viii) </TD>
    <TD>
      <P align=justify>Consultant acknowledges that it is not acquiring the
      Common Shares as a result of, and will not itself engage in, any "directed
      selling efforts" (as defined in Regulation S under the Securities Act) in
      the United States in respect of any of the Common Shares which would
      include any activities undertaken for the purpose of, or that could
      reasonably be expected to have the effect of, conditioning the market in
      the United States for the resale of any of the Common Shares; provided,
      however, that Consultant may sell or otherwise dispose of any of the
      Common Shares pursuant to registration of any of the Common Shares
      pursuant to the Securities Act and any applicable state securities laws or
      under an exemption from such registration requirements and as otherwise
      provided herein;</P></TD></TR></TABLE>
<P align=center>4 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ix) </TD>
    <TD>
      <P align=justify>Consultant understands and agrees not to engage in any
      hedging transactions involving any of the Common Shares unless such
      transactions are in compliance with the provisions of the Securities Act
      and in each case only in accordance with applicable state and provincial
      securities laws;</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify>Consultant acknowledges that the Common Shares are
      &#147;restricted securities&#148;, as such term is defined under Rule 144 of the
      Securities Act, and may not be offered, sold, pledged, or otherwise
      transferred, directly or indirectly, without prior registration under the
      Securities Act and applicable state securities laws, and Consultant agrees
      that if it decides to offer, sell, pledge or otherwise transfer, directly
      or indirectly, any of the Common Shares absent such registration, it will
      not offer, sell, pledge or otherwise transfer, directly or indirectly, any
      of the Common Shares, except:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">A. </TD>
    <TD>
      <P align=justify>to Company; or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">B. </TD>
    <TD>
      <P align=justify>outside the United States in an &#147;offshore transaction&#148; in
      compliance with the requirements of Rule 904 of Regulation S under the
      Securities Act, if available, and in compliance with applicable local laws
      and regulations; or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">C. </TD>
    <TD>
      <P align=justify>in compliance with an exemption from registration under
      the Securities Act provided by (a) Rule 144 or (b) Rule 144A thereunder,
      if available, and in accordance with any applicable state securities or
      &#147;Blue Sky&#148; laws; or</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">D. </TD>
    <TD>
      <P align=justify>in a transaction that does not require registration under
      the Securities Act or any applicable state securities laws; and</P></TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%">&nbsp;</TD>
    <TD vAlign=top width="5%">E. </TD>
    <TD>
      <P align=justify>in the case of subparagraphs (ii), (iii) or (iv), it has
      furnished to Company and to Company&#146;s transfer agent an opinion of counsel
      of recognized standing in form and substance satisfactory to Company and
      to Company&#146;s transfer agent to such effect.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify><U>Legend Requirements</U>. Consultant acknowledges that
      the certificates representing the Common Shares shall bear a legend in the
      following form:</P></TD></TR></TABLE><BR>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="70%" border=0>

  <TR vAlign=top>
    <TD align=left>
      <P align=justify>&#147;THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL
      NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
      AMENDED (THE &#147;U.S. SECURITIES ACT&#148;). THESE SECURITIES MAY BE OFFERED,
      SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO ENERGY FUELS INC., (B)
      IF THE SECURITIES HAVE BEEN REGISTERED IN COMPLIANCE WITH THE REGISTRATION
      REQUIREMENTS UNDER THE U.S. SECURITIES ACT AND IN ACCORDANCE WITH
      APPLICABLE STATE SECURITIES LAWS (C) IN COMPLIANCE WITH THE EXEMPTION FROM
      THE REGISTRATION REQUIREMENTS UNDER THE U.S. SECURITIES ACT IN ACCORDANCE
      WITH RULE 144 THEREUNDER, IF APPLICABLE, AND IN ACCORDANCE WITH APPLICABLE
      STATE SECURITIES LAWS, OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE
      REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE LAWS
      AND REGULATIONS GOVERNING THE OFFER AND SALE OF SECURITIES, AND THE HOLDER
      HAS, PRIOR TO SUCH SALE, FURNISHED TO ENERGY FUELS INC. AN OPINION OF
      COUNSEL OF RECOGNIZED STANDING, OR OTHER EVIDENCE OF EXEMPTION, REASONABLY
      SATISFACTORY TO ENERGY FUELS INC. HEDGING TRANSACTIONS INVOLVING THE
      SECURITIES REPRESENTED HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE
      WITH U.S. SECURITIES LAWS.&#148; </P></TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 10%" align=justify>Notwithstanding the foregoing, if the
certificates representing the Common Shares have been held by Consultant for a
period of at least six (6) months after the respective payment dates, and if
Rule 144 under the Securities Act is applicable (there being no representations
by Company that Rule 144 is applicable), and subject to the restrictions set
forth hereof, Consultant may make sales of the Common Shares only under the terms and conditions prescribed by Rule 144 of the Securities
Act or other exemptions therefrom and provided that Consultant provides an
opinion of counsel of recognized standing in form and substance satisfactory to
Company and Company&#146;s transfer agent to the effect that the U.S. restrictive
legend is no longer required under applicable requirements of the Securities
Act. </P>
<P align=center>5 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD>
      &nbsp;</TD></TR>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">c) </TD>
    <TD>
      <P align=justify><U>TSX Requirements</U>. The certificate(s) evidencing
      the Common Shares shall bear a legend (the &#147;<B>TSX Legend</B>&#148;) as
      required by Section 607.1 of the TSX Company Manual, substantially in the
      form below:</P></TD></TR></TABLE><BR>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="70%" border=0>

  <TR vAlign=top>
    <TD align=left>
      <P align=justify><U>&#147;THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE
      LISTED ON THE</U> <U>TORONTO STOCK EXCHANGE (&#147;TSX&#148;); HOWEVER, THE SAID
      SECURITIES CANNOT</U> <U>BE TRADED THROUGH THE FACILITIES OF TSX SINCE
      THEY ARE NOT FREELY</U> <U>TRANSFERABLE, AND CONSEQUENTLY ANY CERTIFICATE
      REPRESENTING SUCH</U> <U>SECURITIES IS NOT &#147;GOOD DELIVERY&#148; IN SETTLEMENT
      OF TRANSACTIONS ON</U> <U>TSX.&#148;</U> </P></TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 5%" align=justify>In accordance with Section 607.1 of the
TSX Company Manual, the TSX Legend may be removed at such time as the U.S.
Legend has been removed. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>7)</B> </TD>
    <TD>
      <P align=justify><B><U>Required
Approvals</U></B><B>.</B></P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">a) </TD>
    <TD>
      <P align=justify><I>Stock Exchange Approvals</I></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>This Agreement and the issuance of the
Common Shares contemplated herein are subject to the approval of the Toronto
Stock Exchange and NYSE American LLC. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">b) </TD>
    <TD>
      <P align=justify><I>Shareholder Approval</I></P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>The issuance of Common Shares hereunder
is subject to the prior approval of the shareholders of the Corporation at the
Meeting. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>8)</B> </TD>
    <TD>
      <P align=justify><B><U>Expenses</U></B><B>. </B>Consultant agrees to pay
      for all its expenses (phone, mailing, labor, and the like), other than
      extraordinary items (travel required, or specifically requested, by
      Company, luncheons or dinners to large groups of investment professionals,
      investor conference calls, print advertisements in publications, and the
      like) approved by Company prior to it incurring an obligation for
      reimbursement.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>9)</B> </TD>
    <TD>
      <P align=justify><B><U>Indemnification</U></B><B>. </B>Company warrants
      and represents that all oral communications, written documents or
      materials furnished to Consultant by Company with respect to financial
      affairs, operations, profitability and strategic planning of Company are
      accurate and Consultant may rely upon the accuracy thereof without
      independent investigation. Company will protect, indemnify and hold
      harmless Consultant against any claims or litigation including any
      damages, liability, cost and reasonable attorney&#146;s fees as incurred with
      respect thereto resulting from Consultant&#146;s communication or dissemination
      of any said information, documents or materials in accordance with the
      terms of this Agreement. Consultant will protect, indemnify and hold
      harmless Company against any claims or litigation including any damages,
      liability, cost and reasonable attorney&#146;s fees as incurred with respect
      thereto resulting from Consultant&#146;s communication or dissemination of any
      information, documents or materials related to Company that had not
      previously been approved by Company.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>10)</B> </TD>
    <TD>
      <P align=justify><B><U>Compliance with Laws</U></B><B>. </B>Consultant (on
      its own behalf and on behalf of any and all related parties, affiliates,
      owners, members, employees, officers, and directors) agrees that it (and
      such persons) will comply with all laws, rules and regulations related to
      the activities on behalf of Company contemplated pursuant to this
      Agreement.</P></TD></TR></TABLE>
<P align=center>6 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Consultant shall provide a prominent notice on all
      newsletters and websites/webcasts/interview materials and other
      communications with investors or prospective investors in which Consultant
      could be perceived to be giving advice or making a recommendation that
      Consultant has been compensated for its services and, if applicable,
      received or owns stock of Company (directly or indirectly) specifically
      referencing Company by name and the number of shares received (directly or
      indirectly) and will profit from its activities on behalf of Company. If
      asked, Consultant agrees that it will not conceal at any time if it will,
      directly or indirectly, be selling shares while promoting the stock and
      recommending that investors purchase the stock of Company. Consultant
      covenants and agrees that it will at all times engage in acts, practices
      and courses of business that comply with Section 17(a) and (b) of the
      Securities Act, as amended, as well as Section 10(b) of the Securities
      Exchange Act of 1934, as amended (the &#147;<B>Exchange Act</B>&#148;), and has
      adopted policies and procedures adequate to assure all of Consultant&#146;s
      personnel are aware of the limitation on their activities, and the
      disclosure obligations, imposed by such laws and the rules and regulations
      promulgated thereunder. Consultant is aware that the federal securities
      laws restrict trading in Company&#146;s securities while in possession of
      material non-public information concerning Company, as well as the
      requirements of Regulation FD that prohibit communications of material
      non-public information, and the requirements thereof in the event of an
      unintentional or inadvertent non-public disclosure. Consultant agrees to
      immediately inform Company in the event that an actual or potential
      Regulation FD disclosure has occurred and assist counsel in the method by
      which corrective steps should be taken. Consultant acknowledges that with
      respect to any Common Shares now or at any time hereafter beneficially
      owned by Consultant or any of its affiliates, that it will refrain from
      trading in Company&#146;s securities while Consultant or any such affiliate is
      in possession of material non-public information concerning Company, its
      financial condition, or its business and affairs or prospects.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>11)</B> </TD>
    <TD>
      <P align=justify><B><U>Representations of Consultant</U></B><B>.
      </B>Consultant represents that it is not required to maintain any licenses
      or registrations under federal or state regulations necessary to perform
      the services set forth herein, and that it is not rendering legal advice
      or performing accounting services, nor acting as an investment advisor or
      broker/dealer within the meaning of applicable federal and/or state
      securities laws and regulations and it is not required to register as a
      broker-dealer pursuant to Section 15(b) of the Exchange Act and state
      securities laws. Consultant further represents that the performance of the
      services set forth under this Agreement will not violate any rule or
      provision of any regulatory agency having jurisdiction over Consultant.
      Consultant represents that, to the best of its knowledge, Consultant and
      its officers and directors are not the subject of any investigation,
      claim, decree or judgment involving any violation of the SEC or securities
      laws. Company acknowledges that, to the best of its knowledge, it has not
      violated any rule or provision of any regulatory agency having
      jurisdiction over Company. Company represents that, to the best of its
      knowledge, Company is not the subject of any investigation, claim, decree
      or judgment involving any violation of the SEC or securities
  laws.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>12)</B> </TD>
    <TD>
      <P align=justify><B><U>Status as Independent Contractor</U></B><B>.
      </B>Consultant&#146;s engagement pursuant to this Agreement shall be as an
      independent contractor, and not as an employee, officer or other agent of
      Company. Neither party to this Agreement shall represent or hold itself
      out to be the employer or employee of the other. Consultant further
      acknowledges the consideration provided hereinabove is a gross amount of
      consideration and that Company will not withhold from such consideration
      any amounts as to income taxes, social security payments or any other
      payroll taxes. All such income taxes and other such payments shall be made
      or provided for by Consultant, and Company shall have no responsibility or
      obligations regarding such matters. Neither Company nor Consultant
      possesses the authority to bind the other party in any agreements without
      the express written consent of the entity to be bound.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>13)</B> </TD>
    <TD>
      <P align=justify><B><U>Termination</U></B><B>. </B>Company may terminate
      this Agreement at the end of any calendar quarter during the Term for any
      reason or no reason, upon providing 10 calendar days&#146; prior written notice
      to Consultant. In the instance one or both parties do not wish to renew
      this Agreement for an additional Extension Period, the Agreement shall
      automatically terminate upon the expiration of the then current term. In
      the event of any such termination or automatic termination, Company shall pay Consultant all
      fees accrued to the end of the quarter of termination. Company shall have
      no obligation to pay any fees to Consultant after termination.
      Notwithstanding the foregoing, termination in any instance shall not
      relieve either party from its obligations incurred prior to the effective
      date of termination, including the obligation to pay all accrued fees and
      any obligations hereunder arising out of any act or omission of the
  parties prior to the effective date of termination.</P></TD></TR></TABLE>
<P align=center>7 </P>
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  <TR>
    <TD vAlign=top width="5%"><B>14)</B> </TD>
    <TD>
      <P align=justify><B><U>Attorneys&#146; Fees</U></B><B>. </B>If any legal
      action, arbitration or other proceeding is brought for the enforcement or
      interpretation of this Agreement, or because of an alleged dispute,
      breach, default or misrepresentation in connection with or related to this
      Agreement, the successful or prevailing party shall be entitled to recover
      reasonable attorneys&#146; fees and other reasonable costs incurred in
      connection with such action or proceeding, in addition to any other relief
      to which it may be entitled.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>15)</B> </TD>
    <TD>
      <P align=justify><B><U>Waiver</U></B><B>. </B>The waiver by either party
      of a breach of any provision of this Agreement by the other party shall
      not operate or be construed as a waiver of any subsequent breach by such
      other party.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>16)</B> </TD>
    <TD>
      <P align=justify><B><U>Choice of Law, Jurisdiction and Venue</U></B><B>.
      </B>This Agreement shall be governed by, construed and enforced in
      accordance with either the laws of the State of Colorado. The parties
      agree that Denver, Colorado shall be the venue of any dispute.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>17)</B> </TD>
    <TD>
      <P align=justify><B><U>Arbitration</U></B><B>. </B>Any controversy or
      claim arising out of or relating to this Agreement, or the alleged breach
      thereof, or relating to Consultant&#146;s activities or remuneration under this
      Agreement, shall be settled by binding arbitration in Denver, Colorado in
      accordance with customary rules of arbitration and any judgment on an
      award rendered by the arbitrator(s) shall be binding on the parties and
      may be entered in any court having jurisdiction of such matters.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>18)</B> </TD>
    <TD>
      <P align=justify><B><U>Complete Agreement</U></B><B>. </B>This Agreement
      contains the entire understanding of the parties relating to the subject
      matter hereof, and hereby supersedes any prior oral or written agreements
      between the parties hereto. This Agreement may be modified only by an
      agreement in writing signed by the party against whom enforcement of any
      waiver, change, modification, extension or discharge is sought.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>19)</B> </TD>
    <TD>
      <P align=justify><B><U>Confidentiality</U></B><B>. </B>In the course of
      carrying out its duties under this Agreement, Consultant may from time to
      time receive or become aware of material, non-public information regarding
      Company, or proprietary information that is valuable, special and a unique
      asset of Company and/or its business and operations (the &#147;<B>Confidential
      Information</B>&#148;). Except as may be required by law, Consultant agrees to
      hold this Agreement and the Confidential Information in strict confidence,
      according the same protection to such information as it accords to its own
      proprietary and confidential information for a period of two (2) years
      following the expiration or termination of this Agreement. Consultant
      shall not disclose the Confidential Information to any third party without
      the prior written consent of Company. Consultant hereby acknowledges and
      agrees that it is aware that the securities laws of the United States
      prohibit any person who has received from an issuer of securities
      material, non-public information or insider information (such as may form
      part of the Confidential Information) from purchasing or selling
      securities of such issuer on the basis of such information or from
      communicating such information to any other person under circumstances in
      which it is reasonably foreseeable that such person is likely to purchase
      or sell such securities on the basis of such information. If Consultant
      becomes aware of any Confidential Information, Consultant shall not
      disclose such information to any party, except as may be required by law
      pursuant to a written opinion of competent counsel. Consultant shall
      instruct its officers, directors, employees, agents, and affiliates of the
      confidentiality obligations described herein and shall be responsible for
      any unauthorized disclosure by these parties.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>In witness whereof, the parties affix
their signatures as of the dates set out below: </P>
<P align=center>8 </P>
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  <TR vAlign=top>
    <TD align=left>ENERGY FUELS INC. </TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="47%">LIVIAKIS FINANCIAL COMMUNICATIONS, INC. </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>By: /s/ Mark S.
    Chalmers</TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="47%">By: /s/
    John Liviakis</TD></TR>
  <TR vAlign=top>
    <TD align=left>Mark S. Chalmers, President </TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="47%">John Liviakis, CEO </TD></TR>
  <TR vAlign=top>
    <TD align=left>and CEO </TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="47%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="47%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Date: March 29, 2018 </TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="47%">Date: March 29, 2018 </TD></TR></TABLE>
<P align=center>9 </P>
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