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Form 3809 -5 <br />(May 2012) <br />NOTIFICATION OF CHANGE OF OPERATOR AND ASSUMPTION OF PAST LIABILITY <br />The mining law surface management regulations at 43 CFR 3809 require that obligations accrued or conditions created under an operation <br />remain with that operator until (1) Bureau of Land Management (BLM) accepts a satisfactory replacement financial guarantee adequate to <br />cover the previously accrued obligations and (2) BLM receives documentation that a transferee accepts responsibility for the transferor's <br />previously accrued obligations. Therefore, the undersigned transferee hereby assumes all liabilities that may be outstanding on the plan of <br />operations or notice shown below, including, but not limited to, the obligation to properly reclaim and restore the land disturbed on said <br />plan or notice within the approved reclamation plan or notice filed with the BLM; provided that the obligation will not act to increase the <br />potential or cumulative liability above the face amount of the replacement bond to which this notification attaches in the amount stated <br />below as required from the transferee. <br />1. BLM Notice or Plan of Operations Number(s): Carnation Mine - CO -800- 2007 -104EA <br />2. Date BLM Accepted Notice or Approved the Plan of Operations: January 30, 2009 <br />3. Change of operator on the Notice(s) or Plan(s) shown is proposed on 07/24/201 as follows: <br />(Date) <br />FROM: Current Operator (Transferor) Denison Mines (USA) Corp <br />Address <br />Address <br />B Harold R. Roberts <br />Signature /I {�� `.o' -0 <br />Title Executive Vice President and Chief Operating Officer <br />Surface Reclamation Bonding Amount Currently Obligated: Sum of Thirty three thousand four hundred and nine dollars <br />TO: Proposed Operator (Transferee) Energy Fuels Resources (USA) Inc. <br />Address 225 Union Blvd, Ste. 600 <br />Address Lakewood, Colorado 80228 <br />B David C. Frydenlu <br />4 <br />Signature // <br />Title Senior Vic resident, Regulatory Affairs and General Counsel <br />Surface Reclamation Bond: Sum of Thirty three thousand four hundred and nine dollars <br />(Continued on page 2) <br />1050 17th Street, Ste. 950 <br />Denver, Colorado 80265 <br />cc: State Office <br />Surety, if applicable <br />UNITED STATES <br />DEPARTMENT OF THE INTERIOR <br />BUREAU OF LAND MANAGEMENT <br />Change of Operator Approved Pending Acceptance of Satisfactory Bond: <br />7-61;e0ici X? Eke/6 <br />(Print Name) <br />U.S. dollars ($ 33,409 <br /> <br /> <br />FORM APPROVED <br />OMB No. 1004 -0194 <br />Expires: July 31, 2013 <br />(TIN or SSN) <br />(Field Manager) (Date) <br />)- <br />