Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the quarter ended March 31, 2022 . The Company's annual report on Form 10-K has been filed with the U.S. Securities and Exchange Commission (" SEC ") and may be viewed on the Electronic Document Gathering and Retrieval System (" EDGAR ") at www.sec.govedgar.shtml on the System for Electronic Document Analysis and Retrieval (" SEDAR ") at www.sedar.com and on the Company's website at www.energyfuels.com . Unless noted otherwise, all dollar amounts are in U.S. dollars.

Mark S. Chalmers , Energy Fuels' President and CEO, stated:

"Energy Fuels continues to benefit from increases in the prices for all of the critical elements and materials we produce. Though volatile, uranium prices have continued to exhibit strength and resilience, which we expect to continue as Russia's invasion in Ukraine continues. As a result of Russia's aggression, we believe domestic and global nuclear utilities are reducing ties with the Russian state-owned nuclear company. We also believe U.S. uranium and nuclear fuel suppliers may be seeing increased interest from U.S. utilities as a result of the $6 billion civil nuclear credit program, which prioritizes reactors that purchase nuclear fuel and uranium from U.S. suppliers, which would include Energy Fuels.

"We have also been selling some of our vanadium inventory over the past few months, as prices rose during the quarter. Similar to uranium, we believe Russia's invasion of Ukraine is a reason we are seeing strength in the vanadium market. Russia is a significant global supplier of vanadium, and we believe buyers see risk in obtaining vanadium supply from Russia . This quarter we have sold 150,000 pounds of vanadium as FeV at an average price of $20.65 per pound of V, which equates to about $11.00 per pound V 2 O 5 . Our vanadium inventory was carried on our balance sheet at a little under $5.40 per pound V 2 O 5 , so we have been able to capture some gross margin on these sales.

"Energy Fuels' rare earth production continues to proceed extremely well. Through our actions and accomplishments in this difficult industry, we believe we are making more progress, faster, than any other U.S. company. In March, we began the partial separation of lanthanum from our rare earth carbonate, using existing solvent extraction equipment at our White Mesa Mill. This is the first commercial-scale rare earth separation to occur in the U.S. in many years. As a result, we are producing a very high-purity rare earth carbonate, with most of the lanthanum removed, that contains about 32% - 34% NdPr. We are also continuing pilot-scale rare earth separation in the Mill's laboratory, where we are producing about two kilograms of high-purity NdPr oxide per day. It is early days, but with the outstanding achievements of our internal staff, complemented by our relationships with Neo Performance Materials (" Neo ") and Carester, we are confident that we will restore U.S. rare earth separation capabilities in the coming years.

"I was particularly excited to announce that the Company hit a critical mineral 'trifecta' a few weeks ago, when we shipped three different containers of uranium, vanadium, and rare earth materials from the White Mesa Mill to customers or conversion facilities. To my knowledge, this is the first time in American history a company has achieved this feat. Energy Fuels is proud to have become one of the most important producers of critical materials in the U.S., which is particularly important in today's uncertain geopolitical environment. I look forward to providing updates on all fronts in the coming weeks and months."

Webcast at 4:00 pm EDT on May 18, 2022 :

Energy Fuels will be hosting a video webcast on May 18, 2022 at 4:00 pm EDT ( 2:00 pm MDT ) to discuss its Q1-2022 financial results, the outlook for 2022, uranium, rare earths, vanadium, and medical isotopes. To join the webcast and access the presentation and viewer-controlled webcast slides, please click on the link below:

If you would like to participate in the webcast and ask questions, please dial in to 1-888-664-6392 (toll free in the U.S. and Canada ).

A link to a recorded version of the proceedings will be available on the Company's website shortly after the webcast by calling 1-888-390-0541 (toll free in the U.S. and Canada ) and by entering the code 271887#. The recording will be available until June 1, 2022 .

$000's, except per share data

Net loss attributable to the company

Basic and diluted net loss per common share

Property, plant and equipment, net

Operations Update and Outlook for 2022:

The Company continues to believe that uranium supply and demand fundamentals point to higher sustained uranium prices in the future. In addition, Russia's recent invasion of Ukraine and the recent entry into the uranium market by financial entities purchasing uranium on the spot market to hold for the long-term has the potential to result in higher sustained spot and term prices and, perhaps, induce utilities to enter into more long-term contracts with non-Russian producers like Energy Fuels to ensure security of supply and more certain pricing. However, the Company has not yet entered into sufficient long-term supply agreements to justify commencing uranium production at the Company's mines and in-situ recovery (" ISR ") facilities. As a result, the Company expects to maintain uranium recovery at reduced levels until such time when sustained increased market strength is observed, additional suitable term sales contracts can be procured, or the U.S. government buys uranium from the Company following the establishment of the proposed U.S. uranium reserve (the " U.S. Uranium Reserve "). The Company also holds significant uranium inventories and is evaluating selling all or a portion of these inventories on the spot market in response to future upside price volatility or for delivery into long-term supply contracts, if procured. The Company has also begun selling a portion of its vanadium inventory into strengthening markets.

The Company will also continue to seek new sources of revenue, including through its emerging REE business, as well as new sources of Alternate Feed Materials and new fee processing opportunities at the Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices). The Company is also seeking new sources of natural monazite sands for its emerging REE business, is evaluating the potential to recover radioisotopes for use in the development of targeted alpha therapy (" TAT ") medical isotopes for the treatment of cancer, and continues its support of U.S. governmental activities to assist the U.S. uranium mining industry, including the proposed establishment of the U.S. Uranium Reserve.

Extraction and Recovery Activities Overview

During 2022, the Company plans to recover 100,000 to 120,000 pounds of uranium and approximately 650 to 1,000 tonnes of mixed RE Carbonate containing approximately 300 to 450 tonnes of TREO.

No vanadium production is currently planned during 2022, though the Company is currently selling some of its vanadium inventory into improved markets and evaluating potential vanadium production in 2022 or 2023 in light of recent market improvements in vanadium pricing.

The Company has strategically begun to pursue uranium sales commitments, with pricing expected to have both fixed and market-related components. The Company believes that recent price increases, volatility, and focus on security of supply in light of Russia's invasion of Ukraine have increased the potential for the Company to make spot sales, and the Company is actively seeking term sales contracts with utilities at pricing that sustains production and covers corporate overhead. Therefore, existing inventories may increase from 692,000 pounds of U 3 O 8 to 792,000 to 812,000 pounds of U 3 O 8 at year-end 2022 or may increase to a lesser extent, or be reduced, in the event the Company sells some inventory on the spot market or pursuant to term contracts, if procured, in 2022.

The Company expects to produce insignificant quantities of U 3 O 8 in the year ending December 31, 2022 from Nichols Ranch. Until such time when market conditions improve sufficiently, suitable term sales contracts can be procured, or the proposed U.S. Uranium Reserve is established, the Company expects to maintain the Nichols Ranch Project on standby and defer development of further wellfields and header houses. The Company currently holds 34 fully permitted, undeveloped wellfields at Nichols Ranch, including four additional wellfields at the Nichols Ranch wellfields, 22 wellfields at the adjacent Jane Dough wellfields, and eight wellfields at the Hank Project which is fully permitted to be constructed as a satellite facility to the Nichols Ranch Plant. The Company expects to continue to keep the Alta Mesa Project on standby until such time that market conditions improve sufficiently, suitable term sales contracts can be procured, or the proposed U.S. Uranium Reserve is established.

Conventional Extraction and Recovery Activities

During the three months ended March 31, 2022 , the Mill did not package any material quantities of U 3 O 8, focusing instead on developing its REE recovery business. During the three months ended March 31, 2022 , the Mill produced approximately 60 metric tonnes of RE Carbonate, containing approximately 30 metric tonnes of TREO. The Mill recovered small quantities of uranium in 2021 and during the 1 st quarter of 2022, which were retained in circuit. During 2022, the Company expects to recover 100,000 to 120,000 pounds of uranium at the Mill as finished product. The Company expects to recover approximately 650 to 1,000 tonnes of mixed RE Carbonate containing approximately 300 to 450 tonnes of TREO at the Mill. The Company expects to sell all or a portion of its mixed RE Carbonate to Neo or other global separation facilities and/or to stockpile it for future production of separated REE oxides at the Mill or elsewhere. The Company is in advanced discussions with several sources of monazite sands, including the Company's existing supplier, to secure additional supplies of monazite sands, which if successful, would be expected to allow the Company to increase RE Carbonate production.

In addition to its 692,000 pounds of finished uranium inventories currently located at a North American conversion facility and at the Mill, the Company has approximately 389,000 pounds of U 3 O 8 contained in stockpiled Alternate Feed Materials and ore inventory at the Mill that can be recovered relatively quickly in the future, as general market conditions may warrant (totaling about 1,081,000 pounds of U 3 O 8 of total uranium inventory). The Company is also seeking to acquire additional ore inventory from 3 rd party mine cleanup activities than can be recovered relatively quickly in the future. In addition, there remains approximately 1,397,000 pounds of V 2 O 5 inventory in the form of immediately marketable product, and an estimated 1.0 to 3.0 million pounds of solubilized recoverable V 2 O 5 inventory remaining in tailings solutions awaiting future recovery, as market conditions may warrant.

Conventional Standby, Permitting and Evaluation Activities

During the three months ended March 31, 2022 , standby and environmental compliance activities continued at our fully permitted and substantially developed Pinyon Plain Project (uranium) and fully permitted and developed La Sal Complex (uranium and vanadium). The Company plans to continue carrying out engineering, metallurgical testing, procurement and construction management activities at its Pinyon Plain Project. The timing of the Company's plans to extract and process mineralized materials from these projects will be based on sustained improvements in general market conditions, procurement of suitable sales contracts and/or the establishment of the proposed U.S. Uranium Reserve.

The Company is selectively advancing certain permits at its other major conventional uranium projects, such as the Roca Honda Project, which is a large, high-grade conventional project in New Mexico . The Company is also continuing to maintain required permits at its conventional projects, including the Sheep Mountain Project and Whirlwind Project. In addition, the Company will continue to evaluate the Bullfrog Project. Expenditures for certain of these projects have been adjusted to coincide with expected dates of price recoveries based on the Company's forecasts. All of these projects serve as important pipeline assets for the Company's future conventional production capabilities, as market conditions may warrant.

During the three months ended March 31, 2022 , the Company completed no sales of uranium, at its election, but is now actively engaged in pursuing selective long-term uranium sales contracts.

As a result of strengthening vanadium markets, during the three months ended March 31, 2022 , the Company sold 150,000 pounds of FeV (converted from the Company's existing inventory of V 2 O 5 ) at a gross weighted average price of $20.65 per pound V contained in FeV. The Company expects to sell its remaining finished vanadium product when justified into the metallurgical industry, as well as other markets that demand a higher purity product, including the aerospace, chemical, and potentially the vanadium battery industries. The Company may also retain vanadium product in inventory for future sale, depending on vanadium spot prices and general market conditions.

The Company commenced its ramp-up to commercial production of a mixed RE Carbonate in March 2021 and has shipped all of its RE Carbonate produced to-date to Neo's Silmet facility in Estonia (" Silmet "), where it is currently being fed into their separation process. All RE Carbonate produced at the Mill in 2022 is expected to be sold to Neo for separation at Silmet. Until such time as the Company expects to permit and construct its own separation circuits at the Mill, production in future years is expected to be sold to Neo for separation at Silmet and, potentially, to other REE separation facilities outside of the U.S. To the extent not sold, the Company expects to stockpile mixed RE Carbonate at the Mill for future separation and other downstream REE processing at the Mill or elsewhere.

As the Company continues to ramp up its mixed RE Carbonate production and additional funds are spent on process enhancements, improving recoveries, product quality and other optimization, profits from this initiative are expected to be minimal until such time when monazite throughput rates are increased and optimized. However, even at the current throughput rates, the Company is recovering most of its direct costs of this growing initiative, with the other costs associated with ramping up production, process enhancements and evaluating future separation capabilities at the Mill being expensed as development expenditures. Throughout this process, the Company is gaining important knowledge, experience and technical information, all of which will be valuable for current and future mixed RE Carbonate production and expected future production of separated REE oxides and other advanced REE materials at the Mill. As discussed above, the Company is evaluating installing a full separation circuit at the Mill to produce both "light" and "heavy" separated REE oxides in the coming years, subject to successful licensing, financing, and commissioning and continued strong market conditions, and has hired Carester to support these REE separation initiatives.

The Company also continues to pursue new sources of revenue, including additional Alternate Feed Materials and other sources of feed for the Mill.

Continued Efforts to Minimize Costs

Although the Company is pursuing two exciting new initiatives — its REE and TAT radioisotope initiatives —  in addition to its existing uranium and vanadium lines of business, which will likely require the Company to grow certain of its operations, the Company will continue to seek ways to minimize the costs of all its operations where feasible, while maintaining its critical capabilities, manpower and properties.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U 3 O 8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to full commercial-scale production of RE Carbonate. Its corporate offices are in Lakewood, Colorado near Denver , and all its assets and employees are in the United States . Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah , the Nichols Ranch ISR Project in Wyoming , and the Alta Mesa ISR Project in Texas . The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year, and has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Alta Mesa ISR Project is also currently on standby and has a licensed capacity of 1.5 million pounds of U 3 O 8 per year . In addition to the above production facilities, Energy Fuels also has one of the largest S-K 1300 and NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: production and sales forecasts; costs of production; any expectation that the Company will continue to be ready to supply uranium into the proposed U.S. Uranium Reserve once it is established; scalability, and the Company's ability and readiness to re-start, expand or deploy any of its existing projects or capacity to respond to any improvements in uranium market conditions or in response to the proposed Uranium Reserve; any expectations as to future uranium, vanadium, RE Carbonate or REE sales; any expectation regarding any remaining dissolved vanadium in the Mill's tailings facility solutions or the ability of the Company to recover any such vanadium at acceptable costs or at all; the ability of the Company to secure any new sources of Alternate Feed Materials or other processing opportunities at the Mill; expected timelines for the permitting and development of projects; the Company's expectations as to longer term fundamentals in the market and price projections; any expectations as to the implications of the current Russian invasion of Ukraine on uranium, vanadium or other commodity markets; any expectation that the Company will maintain its position as a leading uranium company in the United States ; any expectation that the proposed Uranium Reserve will be implemented and if implemented the manner in which it will be implemented and the timing of implementation ; any expectation with respect to timelines to production; any expectation that the Mill will be successful in producing RE Carbonate on a full-scale commercial basis; any expectation that Neo will be successful in separating the Mill's RE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise; any expectation with respect to the future demand for REEs; any expectation with respect to the quantities of monazite sands to be acquired by Energy Fuels, the quantities of RE Carbonate to be produced by the Mill or the quantities of contained TREO in the Mill's RE Carbonate; any expectation that additional supplies of monazite sands will result in sufficient throughput at the Mill to reduce underutilized capacity production costs and allow the Company to realize its expected margins on a continuous basis; any expectation that the Company's evaluation of thorium and radium recovery at the Mill will be successful; any expectation that the potential recovery of medical isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; any expectation that the Company will be successful in completing one or more contracts for the sale of uranium to U.S. utilities; and any expectation that the Company will generate net income in future periods . Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of sources of Alternate Feed Materials and other feed sources for the Mill; competition from other producers; public opinion; government and political actions; the appropriations for the proposed Uranium Reserve not being allocated to that program and the Uranium Reserve not being implemented; the manner in which the proposed Uranium Reserve, if established, will be implemented; the Company not being successful in selling any uranium into the proposed Uranium Reserve at acceptable quantities or prices, or at all; available supplies of monazite sands; the ability of the Mill to produce RE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the RE Carbonate produced by the Mill to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; the ability of the Mill to be able to separate thorium and radium at reasonable costs or at all; the ability of the Company to be able to recover other isotopes from thorium and radium recovered at the Mill at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

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Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), the leading uranium producer in the United States, announces the results of the election of directors at its annual meeting of shareholders (the "Meeting") held virtually on May 25, 2022. The ten (10) nominees proposed by management for election as directors were elected by the shareholders of the Company, through a combination of votes by proxy and electronic poll, as follows: Read More >>

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Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") the leading uranium producer in the United States, announces the results of the election of directors at its annual meeting of shareholders (the " Meeting ") held virtually on May 25, 2022 .

The ten (10) nominees proposed by management for election as directors were elected by the shareholders of the Company, through a combination of votes by proxy and electronic poll, as follows:

About Energy Fuels : Energy Fuels is a leading U.S.-based uranium mining company, supplying U 3 O 8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of rare earth element (" REE ") carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (" ISR ") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year, and has the ability to recycle alternate feed materials from third parties, to produce vanadium when market conditions warrant, and to produce REE carbonate from various uranium-bearing ores. Energy Fuels is also evaluating the potential to recover medical isotopes for use in targeted alpha therapy cancer treatments. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U 3 O 8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest SK-1300/NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .

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milling plant is possible, although we do not view that as a near-term project. Energy Fuels will pay $27.5 million for the concessions, an amount easily funded with its $106 million of cash and marketable securities. Management believes the project could supply 3,000-10,000 per year of monazite containing 1,500-5,000 of total rare earth oxides (TREO). The company had previously stated a goal of eventually producing 10,000 tons of REE annually, implying processing 20,000-25,000 tons of monazite. To date, production ramp up has been hampered by an inability to secure sufficient monazite sand. If management is correct about the potential of the Brazil project, it could represent 25-50% of supply at full production (which we model to be in 2026). As such, the agreement represents a significant step in locking up supply. We expect the company to continue to look to sign additional supply agreements. Read More >>

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~58.3 square mile (~37,300 acre) heavy mineral sand position has potential to feed the Company's White Mesa Mill with rare earth element and uranium bearing natural monazite sand for decades

Energy Fuels Inc. ( NYSE American: UUUU ) ( TSX: EFR ) ( "Energy Fuels" or the "Company" ) is pleased to announce that it has entered into binding agreements (the " Purchase Agreements ") to acquire seventeen (17) mineral concessions (the " Transaction ") between the towns of Prado and Caravelas in the State of Bahia, Brazil totaling 15,089.71 hectares (approximately 37,300 acres or 58.3 square miles) (the " Bahia Project ").

Based on significant historical drilling performed to date, it is believed that the Bahia Project holds significant quantities of heavy minerals, including monazite, that will feed Energy Fuels' quickly emerging U.S.-based rare earth element (" REE ") supply chain. The Bahia Project has seen no previous mining, but several of the concessions have valid exploration and mining permits with the Government of Brazil . Therefore, the Company believes there is a clear path to moving the Bahia Project to production.

The Bahia Project is a well-known heavy mineral sand (" HMS ") deposit with over 3,300 vertical historic exploration auger holes drilled to date, indicating significant concentrations of titanium (ilmenite and rutile), zirconium (zircon), and rare earth elements (monazite). Importantly, the mineralization is at or near the surface, meaning the material is expected to be relatively easy to recover using standard, low-cost sand mining techniques, including the use of front-end loaders, excavators and/or dredges. Due to the drilling method used historically, drilling performed to date only averages 5.86 meters deep, or the average depth of the water table in the region. There is no reason to believe that mineralization stops at the water table. Therefore, the Company believes mineralization is open at depth. Energy Fuels' primary interest is in the monazite which contains both rare earth elements and uranium. Preliminary assay data indicates the monazite sand contained in the HMS concentrate ranges between 0.62% and 12.82% 1 , and the uranium contained in the monazite is expected to be comparable to typical Colorado Plateau uranium deposits.

Energy Fuels plans to perform extensive exploration work over the next six months to further define and quantify the HMS resource at the Bahia Project. This is expected to include a comprehensive sonic drilling and geophysical mapping program to define the HMS grades and depths for the various mineral products, including the REE resources associated with the Bahia Project. The Company plans to engage industry leaders in mineral processing to complete a Preliminary Economic Assessment under NI 43-101 ( Canada ) and an Initial Assessment under SK-1300 (US) during late Q1 or early Q2 2023.

Based on preliminary, historical resource estimates, the Company believes the Bahia Project has the potential to supply approximately 3,000 – 10,000 tonnes per year of monazite sand concentrate to the Mill (depending on production rates), containing approximately 1,500 – 5,000 tonnes of total rare earth oxides (" TREO ") per year, potentially for decades. The Company expects to mine and produce an HMS concentrate at the site, which contains all the valuable minerals, including monazite. This HMS concentrate would then be shipped to an existing HMS facility for further refinement and separation of the monazite into a product Energy Fuels can process at the Mill. The Company is evaluating whether this further refinement and separation step could potentially be performed in Brazil . However at this time, the Company plans to ship lower concentrations of monazite sand for concentration at a U.S. facility. Preliminary internal projections indicate this latter option can be very cost-effective, despite the larger shipping quantities, as the less concentrated material will not require the more expensive Class 7 designation applicable to higher concentrated materials, and it can be shipped in bulk.

Mark S. Chalmers , President and CEO of Energy Fuels stated: "This is another very significant step in Energy Fuels' development as a major global rare earth element producer based in the United States . We are aggressively seeking to expand our monazite sand feeds. With guidance from our heavy mineral sand experts, the Company has been evaluating the acquisition of monazite-bearing projects. The Bahia deposit is well-known throughout the HMS industry as having excellent potential to produce high-quality ilmenite, rutile, and zircon products, in addition to monazite. We are very pleased to have secured this project, as it has the potential to provide Energy Fuels with our own low-cost source of monazite feed that we fully control. The Company expects to supplement its monazite supply in the future with open market purchases, arrangements with existing monazite producers, and/or additional acquisitions. Energy Fuels is in advanced discussions with other current and future monazite producers around the world to provide creative options on how to best build upon our momentum and add further scale.

"At Energy Fuels, we have proven our ability to process natural monazite sand concentrate into a high purity mixed rare earth carbonate, containing about 32% - 34% neodymium/praseodymium (NdPr). Our clear current priorities are to continue to build our book of monazite feed to a world scale and to leverage our existing solvent extraction experience and infrastructure at the Mill to produce both separated 'light' and 'heavy' rare earth oxides, and other products, by adding commercial separation capabilities to the Mill. To achieve these ambitious goals, we have assembled a team of rare earth heavy-weights, including Neo Performance Materials, Carester SAS, and other heavy mineral sand and rare earth experts, that we believe is unmatched anywhere in the world.

"In my view, this acquisition will provide significant credibility to investors, other monazite suppliers, and clean energy manufacturers, as we will clearly demonstrate that Energy Fuels is well on its way to becoming a large-scale producer of advanced rare earth materials in the U.S. We have already proven our processing capabilities. Now, we are proving that upon successful completion of this acquisition, we will own and control 'the elements' to supply EV, renewable energy and other technology manufacturers."

Under the Transaction, Energy Fuels has entered into Purchase Agreements with private mineral rights holders in Brazil to acquire seventeen (17) heavy mineral sand concessions comprising the Bahia Project, subject to a 90-day due diligence period. The total consideration for this acquisition is $27,500,000 in cash, with non-refundable deposits totaling $2,750,000 cash due on signing, and additional non-refundable deposits totaling $2,850,000 cash due at various benchmarks during the due diligence period, and the remaining $21,900,000 due at closing. Closing is expected to follow the 90-day due diligence period and is subject to Energy Fuels being satisfied with its due diligence investigations. The Purchase Agreements contain other customary terms and conditions for a transaction of this nature.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U 3 O 8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of REE carbonate. Its corporate offices are in Lakewood, Colorado , near Denver, and all its assets and employees are in the United States . Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (" ISR ") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U 3 O 8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .

Daniel Kapostasy , P.G., Director of Technical Services for Energy Fuels , is a Qualified Person as defined by Canadian National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this news release, including sampling, analytical, and test data underlying such disclosure.

This news release contains "forward-looking information" within the meaning of applicable securities laws in the United States and Canada . Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels' objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following:; any expectation that the Transaction will close and that the Company will acquire the Bahia Project on the terms disclosed or at all; any expectation as to the concentrations or quantities of heavy minerals, including monazite contained in the Bahia Project; any expectation as to the potential annual supply of monazite sands from the Bahia Project to the Mill, the contained tonnes of TREO per year, or the number of years or decades of such potential supply; any expectation that monazite sands from the Bahia Project may be a low-cost source of monazite feed; any expectation that there may be a clear path to moving the Bahia Project into production; any expectation that the mineralization does not stop at the water table and is open at depth; any expectation as to the exploration or development work the Company plans to perform on the Bahia Project; any expectation that a Preliminary Economic Assessment under NI 43-101 or an Initial Assessment under SK-1300 will be performed and the timing of completion of any such assessments; any expectation as to how the Bahia Project may be mined, or the manner or location of any further refinement and separation of mined material; any expectation as to the cost-effectiveness of transporting various forms of HMS from the mine to a concentration facility; any expectation that the Company may become a major global rare earth element producer based in the United States ; any expectation that the Company may be successful in expanding its monazite sand feeds; any expectation that the Company will or will continue to successfully process monazite sand concentrates into a high purity mixed rare earth carbonate; any expectation that the Company may be successful at developing a full scale separations facility at the Mill; and any expectation that the Company will continue to be a leading U.S. based uranium mining company. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: technical difficulties; mining or processing difficulties and upsets; licensing, permitting and regulatory delays; litigation risks; competition from others; political actions or instability in foreign countries; and market factors, including future demand for and prices realized from the sale of uranium, vanadium and REEs. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assumes no obligation to update the information in this communication, except as otherwise required by law.

1 This information comes from 16 different Exploration Reports filed with the Brazilian Government's National Agency of Minerals (ANM) over several years (2011-2019). These grades should be considered conceptual in nature since there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The data was obtained by sampling 1-meter intervals from a hand auger hole, separating out the heavy mineral fraction using heavy liquids, separating the heavy minerals by magnetic strength and then point counting the minerals under a microscope. Energy Fuels plans to initiate a sonic drill program to better define the exploration target and use industry best practices to determine an estimate of all the heavy minerals found within the project area. A qualified person has not done sufficient work to classify this historical estimate as current and Energy Fuels is not treating this historical estimate as current.

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Energy Fuels reported 2022-1Q results generally in line with expectations and gave an update on operations. Production and sales remain small (modest Vanadium sales) making bottom line results largely a function of operating costs. A slight increase in operating losses ($10.2m versus $8.8m) and net losses ($14.7m versus $10.9m) reflect additional ramp up costs for UUUU's rare earth element (REE) development and were expected. Development discussions were largely a repeat of the April update. But wait! A uranium supply contract?!?! Management plans to separate REE elements, efforts to access new REE supplies (Monzanite), and its medical isotope recovery partnership. This is all old news. However, management also announced on a call with investors (not in the press release) that it had just signed a uranium supply contract. This is the first contract in several years and a clear sign that the uranium market has improved to a point where UUUU may ramp up production, "perhaps as early as this summer." Read More >>

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Electra Battery Materials Corporation (NASDAQ: ELBM) (TSXV: ELBM) ("Electra") today provided an update on its plans to develop a low carbon, fully-integrated battery materials park for the North American electric vehicle industry and announced the filing of its financial results for the first quarter ended March 31, 2022 .

"Despite supply chain disruptions and inflationary price pressures caused by the lingering effects of the global pandemic and recent geopolitical developments Electra made considerable progress in Q1, advancing the construction of our expanded cobalt refinery," said Trent Mell , CEO of Electra Battery Materials Corporation.  "Most notably, we received our Industrial Sewage Works permit, started construction of the solvent extraction plant, and received approval of our Closure Plan. Completion of these milestones paves the way for the commissioning of our refinery expansion in Q4 2022, consistent with our expected timelines."

Mr. Mell added, "We have sustained this momentum into Q2 with our successful listing on NASDAQ, strengthening of our senior leadership team, and signing an offtake agreement for nickel and cobalt produced at our battery recycling plant starting in 2023. We anticipate building on this progress through 2022 and beyond as construction of the refinery is completed and we begin production."

Electra has successfully kept the project on schedule to commence dry commissioning in December, despite global supply chain disruptions. Cost pressures have emerged from systemic inflation, constrained global supply chains and the sanctions on trade with Russia , increasing the average cost of project inputs, such as steel, copper, nickel and freight rates, all of which have put the original budget at risk. Labour and contractor rates are also higher with recent 8 to 9% wage settlements with construction trades, as well, a number of concurrent development projects in Canada have created a very competitive market for experienced trades. Based on trends in the market, management believes that the US$67 million capital budget could be exceeded by approximately 5 to 10%. The Company's early decision to create an experienced owner's team has helped mitigate some of these impacts and management believes the Company is well positioned to navigate a more complex landscape.

Highlights Subsequent to Quarter End

For complete details of the consolidated financial statements and the associated management's discussion and analysis, please refer to the Company's filing on SEDAR ( www.sedar.com ) or the Company's website ( www.ElectraBMC.com ).

Electra's core strategy is to produce low carbon, ethically sourced battery materials for the North American electric vehicle supply chain. Electra is specifically focused on creating the first integrated battery materials park in North America , providing refined cobalt, nickel and recycled battery materials to North American battery precursor manufacturers. Electra also owns the advanced exploration-stage Iron Creek cobalt-copper project in Idaho, USA .

On behalf of Electra Battery Materials Corporation

Joe Racanelli Vice President, Investor Relations

For more information visit www.ElectraBMC.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR at www.sedar.com . Although Electra Battery Materials Corporation believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Electra Battery Materials Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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SOURCE Electra Battery Materials Corporation

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American Lithium Corp. ("American Lithium" or the "Company") (TSX-V: LI, OTCQB: LIACF, Frankfurt: 5LA1) , is pleased to announce that it has reached an agreement with certain arms-length vendors (the "Vendors") to acquire 431 acres of privately-held agricultural lands, along with the accompanying 1,468 acre-feet of water rights, in the Big Smoky Valley near Tonopah, Nevada, close to the Company's Tonopah Lithium Claims ("TLC").

Pursuant to the terms of the agreement, the Company will pay the Vendors a total of US $3,125,000 on closing. Closing is expected to occur shortly following completion of a standard escrow in order to verify title rights.

This latest agreement follows an earlier purchase in 2020 of a nearby 326-acre private ranch, also in Big Smoky Valley, which provides American Lithium with access to 1,110 acre-feet of water rights. The outright ownership of both properties will provide close to 2,500 acre-feet of combined water rights which should provide sufficient water for at least the initial phases of any future production at TLC and a strong base for any future expansion phases. The water can be transported by buried pipe-line to TLC utilizing existing public access routes. The water rights acquired with the land purchase may also be transferred throughout the basin including to the TLC site via intra-basin transfer.

Simon Clarke, CEO of American Lithium, states: "TLC benefits from a number of unique features, including an excellent location in the high desert of Nevada, which provides the project with a benign environmental footprint. The ability to secure additional sustainable water supply in our basin is a critical element and we are delighted that our team has been proactive in this regard. It is our mandate to continue to develop a sustainable business model at TLC that is as water efficient as possible. Our vision of judicious water conservation includes recycling and re-using our privately-owned water supplies whenever possible and we will maximize the rights we have and minimize water consumption.

Such initiatives are aligned with our commitment to minimize impacts on the surrounding ecosystem. To this end, we will also continue to operate both ranches using traditional, best-farming practices for the foreseeable future, with the cooperation of the Vendors and under the stewardship of a seasoned ranch manager."

Ab out American Lithium American Lithium, a member of the TSX Venture 50, is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have been through preliminary economic assessments, exhibit strong additional exploration potential and are situated near significant infrastructure.

On behalf of the Board of Directors of American Lithium Corp.

For further information, please contact:

Follow us on Facebook , Twitter and LinkedIn .

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward Looking Information This news release contains certain forward-looking information and forward-looking statements (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the planned acquisition of additional water rights and future operations at TLC, and any other statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", "indicate", "scheduled", "target", "goal", "potential", "subject", "efforts", "option" and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium's ability to achieve its stated goals; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, American Lithium or others to attempt to reduce the spread of COVID-19 could affect American Lithium, which could have a material adverse impact on many aspects of American Lithium's businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium's ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium's potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; the judicial appeal process in Peru, and any and all future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium's shares and could negatively affect American Lithium's ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the "Risks Factors" section of American Lithium's Annual Information Form for the financial year ended February 28, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

Cautionary Note Regarding Macusani Concessions Thirty-two of the 151 concessions held by American Lithium's subsidiary Macusani, are currently subject to Administrative and Judicial processes (together, the "Processes") in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani's title to 32 of the concessions invalid due to late receipt of the annual validity payments. In November 2019, Macusani applied for injunctive relief on 32 concessions in a Court in Lima, Peru and was successful in obtaining such an injunction on 17 of the concessions including three of the four concessions included in the Macusani Uranium Project PEA. The grant of the Precautionary Measure (Medida Cautelar) has restored the title, rights and validity of those 17 concessions to Macusani until a final decision is obtained at the last stage of the judicial process. A Precautionary Measure application was made at the same time for the remaining 15 concessions and was ultimately granted by a Court in Lima, Peru on March 2, 2021 which has also restored the title, rights and validity of those 15 remaining concessions to Macusani, with the result being that all 32 concessions are now protected by Precautionary Measure (Medida Cautelar) until a final decision on this matter is obtained at the last stage of the judicial process. The favourable judge's ruling confirming Macusani's title to all 32 concessions from November 3, 2021 represents the final stage of the current judicial process. However, this ruling has been appealed by MINEM and INGEMMET. American Lithium has no assurance that the outcome of these appeals will be in the Company's favour.

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Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8)  (www.foremostlithium.com) ("Foremost Lithium, Foremost or the Company") is pleased to announce that it has contracted XPS Expert Process Solutions (a Glencore company) to develop a process to develop and refine spodumene concentrate (SC6 technical specification) into a saleable battery-grade lithium hydroxide product. The contractual relationship reflects Foremost's commitment to deliver battery-grade lithium hydroxide to supply an integrated EV battery ecosystem to energize the electrification of the transportation sector.

Foremost's initial 2020 metallurgical test work, done in conjunction with SGS Canada Inc, indicated that it is possible that Heavy Liquids Separation (HLS) combined with magnetite separation can be used to produce a high-grade (close to 6% Li2O) lithium spodumene concentrate after the rejection of iron silicate minerals therefore, most of the spodumene should be amenable to recovery by HLS and/or flotation. The mineralogical characteristics of the Zoro Dyke 1 pegmatite highlight the economic potential of the project. These preliminary findings suggest that Foremost's Zoro property contains lithium resources meeting industry and market specifications. The new project with XPS and SGS will utilize a more robust 500 kg sample size which will allow us to confirm that it is feasible to convert the 6% Li2O from Zoro to Lithium hydroxide (LiOH) which is the compound for which the Electric Vehicle makers / giga factories have unprecedented demand.

The project will be undertaken at XPS's Falconbridge, Canada facility and SGS Canada Inc.'s Lakefield, Canada facility. The project includes single stage Dense Media Separation (DMS), flotation, pyrometallurgy, and hydrometallurgy. Phase 1 is evaluating the potential purity and recovery of lithium from concentrates to ultimately improve commercial understanding and provide data for the generation of a continuous pilot process. Phase 1 results are anticipated in 3 months' time, with the objective of producing a Technical Specification SC6 Spodumene Concentrate. SC6 is an inorganic material that can be further refined for use in the manufacturing of batteries, ceramics, glass, grease, and various lithium products.

Lithium Demand Outpaces Supply. Chemical and spodumene pricing: Spodumene concentrate 532% higher, Lithium carbonate 431% Lithium hydroxide 340% higher year over year. Data and figure from Canaccord Genuity Research "Rating and Target Price Changes EV Materials" January 24, 2022 To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/4689/125393_7fedc03db4976b2b_001bfull.jpg

Phase 2 will study how to best process the SC6 into a saleable battery-grade lithium hydroxide (LiOH) monohydrate. Several processing approaches will be explored to optimize the economics of the production flowsheet. The Company anticipates completing Phase 2 in Q1 of 2023. XPS will issue a report confirming the chemical composition and Lithium hydroxide product samples will be available for due diligence testing with qualified battery manufacturers.

There are several positive trends for lithium demand, particularly lithium hydroxide in the USA. Between 2020 and 2030, RK Equity forecasted an increase in demand of almost 30 times for battery cells. Translated, this equates to 600 GWh of battery cell demand and approximately 500KT Lithium Carbonate Equivalent (LCE) of battery-grade lithium demand (85%-90% hydroxide). In addition, energy storage and commercial vehicles will add further battery demand. Foremost believes it is highly likely that North America will emulate Europe's battery raw material strategy and target a high percentage of local lithium chemical production. America currently has ~15KT LCE of local chemical production capacity - a fraction of the 500KT LCE demand forecasted for 2030. Hard rock ore to hydroxide offers the fastest route to increased supply, and Foremost's land position hosts significant potential, projects such as Foremost's "Lithium Lane" will be seen as strategic in the years to come.

  Figure 1 - Battery-grade hydroxide demand/supply to 2030 (Source: RK Equity/ Frontier Lithium Independent Research Report) To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/4689/125393_7fedc03db4976b2b_002full.jpg

"Leveraging the world-class technical expertise with the team at the XPS's Falconbridge facility demonstrates Foremost's commitment to produce battery-grade lithium hydroxide from our Snow Lake, Lithium Lane Properties," said Scott Taylor, Foremost's President and CEO. "This strategic project will demonstrate to the market that Foremost can produce high quality SC6 and battery grade lithium hydroxide and help establish Manitoba as a significant Canadian contributor to the North American strategic battery manufacturing supply chain."

Technical information contained in this press release has been approved by the Company's VP of Exploration, Dr. Mark Fedikow, P. Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Dr. Fedikow holds Honors B.Sc. and M.Sc. degrees in geology, geophysics, and geochemistry from the University of Windsor (Canada) and a Ph.D. in exploration geochemistry from the University of New South Wales in Sydney (Australia).

Foremost Lithium is an energy tech company driven to become one of the first North American Companies to produce high quality battery-grade lithium hydroxide domestically to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing energy decarbonization, especially when it comes to vehicles, The company is hyper-focused in continued exploration and growth on its four lithium properties, Jean Lake, Grass River, and Zoro located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories. Foremost also holds its Winston Gold/Silver Project in New Mexico, USA.

For further Information Please Contact:

IR@foremostlithium.com Foremost Lithium Resource &Technology 1 604 330-8067

Follow Us and Contact Us on Social Media: Twitter: @foremostlithium Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology Facebook: https://www.facebook.com/ForemostLithium

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Foremost within the meaning of applicable securities laws. Foremost provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to market conditions, exploration findings, results, and recommendations, as well as those risks and uncertainties identified and reported in Foremost's public filings under Foremost's SEDAR profile at www.sedar.com. Although Foremost has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Foremost disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise unless required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125393

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Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce the successful completion of CVZ-71 (PH-10) and release of the final assay results. The Company completed core hole CVZ-71 at a depth of 453.5 feet (138.2 m). Sampling for assay began at 30 ft (9.1 m) and continued to the bottom of the hole. An interval thickness of 280 ft (85.3 m) was intersected from 140 ft (42.7 m) to 420 ft (128.0 m). The hole ended in mineralization and the weighted average lithium values present were as follows

"As Noram moves toward completion of the Zeus property's PFS, now on schedule for completion in October 2022, the assay results from CVZ-71 provide another long, high-grade intercept to the list of drillholes that is expected to upgrade a major portion of the deposit from an inferred resource to the indicated resource category" comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.

Table 1 - Sample results from CVZ-71 from 30 ft (9.1 m) to depth of 453.5 ft (138.2 m).

The samples were analyzed by the ALS laboratory in Reno, Nevada. Certified reference standard samples were included in the sample batch and returned values that were within their expected ranges.

The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.

Noram Lithium Corp. (TSXV:NRM),(OTCQB: NRVTF),(Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.

The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.

Please visit our web site for further information: www.noramlithiumcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Sandy MacDougall Chief Executive Officer and Director C: 778.999.2159

For additional information please contact: Peter A. Ball President and Chief Operating Officer peter@noramlithiumcorp.com C: 778.344.4653

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).

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Couloir Capital is pleased to announce it has published a new research note on ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB). The update report is titled, "Maiden Drilling Results for Flagship Project and 2022 Drilling Work Commenced."

Report excerpt: "Off the back of our previous update report, ION has completed its maiden auger drilling program at its flagship project Baavhai Uul, reporting assay results that offer promising indications about the project's lithium potential. In addition, the program uncovered the anomalous presence of copper and nickel at the project, offering further potential for the project to be future supplier to the EV industry. Moving forward, ION has commenced maiden drilling at its other project Urgakh Naran, with early indications pointing to high-grade lithium potential. We expect that positive findings at Urgakh Naran could build upon positive results from the 2021 drilling at Baavhai Uul and build a growth platform for ION to leverage in future exploration."

The report can be accessed through Couloir Capital's portal: https://www.couloircapital.com/research-portal

Ion Energy Ltd is Mongolia's first lithium brine explorer and developer, with licences spanning a combined landmass of over 100,000 hectares. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.

Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies.

For further information, please contact:

Rob Stitt, Managing Director, Couloir Capital Ltd. Email: rstitt@couloircapital.com www.couloircapital.com

Disclosure: Couloir Capital Ltd. and/or affiliated companies hold shares and warrants in ION.

A service agreement exists between the Couloir Capital Ltd. and ION Energy Ltd.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125298

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Coquitlam, BC TheNewswire - May 25, 2022 -- Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company" or "Canada Silver Cobalt") announces that the Annual General Meeting was held today, Wednesday, May 25, 2022 and is pleased to report that all resolutions were approved.   Resolutions passed are listed below.

1.        The following individuals were re-elected Directors of the Company: Frank J. Basa, Matthew Halliday, Jacques Monette and Dianne Tookenay.

2. McGovern, Hurley, Cunningham, Chartered Accountants , were re-appointed as Company auditors.

3.        Adoption of the Company's 10% rolling share option plan was ratified and approved.

The Board of Directors appointed the following officers of the Company for the ensuing year:

Frank J. Basa:                        Chief Executive Officer Matthew Halliday:                President & COO

Robert Suttie:                        Chief Financial Officer Tina Whyte:                        Corporate Secretary

Frank J. Basa, Jacques F. Monette and Dianne Tookenay were re-appointed as members of the Audit Committee for the upcoming year.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.

In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.

The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 10,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it will be exploring in 2022.

Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com

Frank J. Basa, P. Eng.

Frank J. Basa, P.Eng.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements which include, but are not limited to, comments regarding future financings, if any, pursuant to the short form base shelf prospectus referred to above, and comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, future financings, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com .

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