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�6rENERGYFUELS <br />"'A <br />Division of Reclamation Mining and Safety <br />v 1313 Sherman St. Room 215 <br />Denver, Colorado 80203 <br />June 18, 2013 <br />Energy Fuels Resources (USA) Inc. <br />225 Union Blvd. Suite 600 <br />Lakewood, CO, US, 80228 <br />303 974 2140 <br />www.energyfuels.com <br />o K- <br />3019TO <br />OF w 'TIC <br />Farmer Girl -2, Notice of Intent (NOI) P- 2008 -018, Modified, Annual Report. <br />Administrator: <br />Energy Fuels Resources Corporation (EFR) submitted a modification to P- 2008 -018 in November of <br />2011. The modification was to add up to 16 more exploration drill holes. DRMS approved the <br />modification and allocated sufficient bond from EFR's State Wide bond. Because of wildlife winter <br />range restrictions placed on activities by BLM, EFR did not perform any of the approved work in the <br />winter or spring of 2012. Due to the depressed uranium market, EFR postponed the project further. <br />EFR has not yet done any site preparation or drilling under the approved modified plan. <br />EFR has completed the reclamation of all the other exploration drill holes previously drilled under <br />Prospecting Notice of Intent, P- 2008 -018. This work has been previously reported with locations and <br />maps, as required. <br />Surface Landowner: <br />Bureau of Land Management <br />Uncompahgre Field Office <br />Mr. Rob Ernst <br />2505 South Townsend <br />Montrose CO 81401 <br />Prospector: <br />Energy Fuels Resources Corporation <br />Dick White <br />VP Exploration Colorado/Utah <br />225 Union Blvd. #600 <br />Lakewood, CO 80228 <br />DRMS has allocated $5,745, an adequate amount of bond money, from the EFR Statewide <br />Prospecting Bond, #K07346323 (which currently has approximately $105,000 unallocated), to cover <br />the reclamation liability of the original P- 2008 -018 plus the Modification. <br />Dick White, VP Exploration for Energy Fuels Resources Corporation attests that the above <br />information is accurate to the best of his knowledge. <br />Respectively, <br />Dick White <br />VP Exploration Colorado/Utah <br />225 Union Blvd. #600 <br />Lakewood, CO 80228 <br />Ph. 303 - 974 -2152 <br />