TUE Titan Uranium Inc.

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES


Energy Fuels Inc. (TSX:EFR) ("Energy Fuels") and Titan Uranium Inc. (TSX
VENTURE:TUE) ("Titan") are pleased to announce that a Certificate of Arrangement
giving effect to the Plan of Arrangement between Energy Fuels and Titan was
issued today. Titan is now a wholly-owned subsidiary of Energy Fuels.


Under the Arrangement, Energy Fuels issued an aggregate of 89,063,997 common
shares in exchange for all of the 130,976,467 issued and outstanding common
shares of Titan, on the basis of 0.68 of an Energy Fuels common share for each
whole Titan common share. In addition, up to 14,926,881 common shares of Energy
Fuels are reserved for issuance upon exercise of warrants previously issued by
Titan. Full details of the transaction are set out in Energy Fuels' Management
Information Circular dated January 10, 2012 issued in connection with Energy
Fuels' annual and special meeting of shareholders held on February 10, 2012.


The common shares of Titan are currently halted from trading on, and will be
delisted from, the TSX Venture Exchange.


This news release and the information contained herein does not constitute an
offer of securities for sale in the United Sates and securities may not be
offered or sold in the United States absent registration or exemption from
registration.

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