Energy Fuels and Magnum Uranium Announce Shareholder Approval of Plan of Arrangement

Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") and Magnum Uranium
Corp. (TSX VENTURE:MM) ("Magnum") are pleased to announce that shareholders of
Magnum have approved the proposed Plan of Arrangement between Magnum and Energy
Fuels in a vote on which 99.6% of the votes cast were in favour of the
Arrangement. Completion of the transaction is subject to approval of the court
and the TSX Venture Exchange. Magnum and EFI anticipate that closing of the Plan
of Arrangement will take place on June 30, 2009 and that, in anticipation of
closing, Magnum will request that trading in its shares will be halted before
market open on June 30, 2009.


Craig Lindsay, President & CEO of Magnum observed that, "We at Magnum are very
pleased to bring this kind of value to our shareholders during the recent market
downturn. We are especially excited to see our property portfolio in the hands
of a capable developer like Energy Fuels. The Magnum properties are part of the
mill feed strategy for Energy Fuels' Pinon Ridge uranium mill, and the path to
production is now well defined."


George Glasier, President & CEO of Energy Fuels offered that, "We are happy to
see the confidence shown in the Energy Fuels management team by the shareholders
of Magnum, as we complete another milestone in the consolidation of Colorado
Plateau uranium assets. The combination of these two companies results in a
stronger, better capitalized company with a significant increase in uranium
resource, and a corporate treasury enhanced by almost 50%. These assets will
contribute to the advancement of Energy Fuels' Pinon Ridge milling plan and
overall growth strategy."


Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral development
company actively rehabilitating and developing formerly producing mines. With
more than 46,000 acres of highly prospective uranium and vanadium property
located in the states of Colorado, Utah and Arizona, the Company has a full
pipeline of additional development prospects. Energy Fuels, through its
wholly-owned Colorado subsidiary, Energy Fuels Resources Corporation, has
assembled this property portfolio along with a first class management team,
including highly skilled technical mining and milling professionals based in
Lakewood and Nucla, Colorado and Kanab, Utah.


Magnum Uranium is a Vancouver-based minerals exploration company focused on the
acquisition and development of uranium assets in North America. Currently,
Magnum's primary property holdings are located in the Western United States,
specifically Wyoming, Utah, Idaho, and New Mexico, and in Canada's Athabasca
Basin.


This news release contains certain "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as
amended and "Forward Looking Information" within the meaning of applicable
Canadian securities legislation. All statements, other than statements of
historical fact, included herein are forward-looking statements and forward
looking information that involve various risks and uncertainties. There can be
no assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the Company's
documents filed from time to time with the British Columbia, Alberta and Ontario
Securities Commissions.

Magnum Uranium Com Npv (TSXV:MM)
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