Name of the Mine
Nichols Ranch Complex.

Location  
Campbell and Johnson counties, Wyoming, US.

Mine Owner/s  
Energy Fuels.

Brief Description  
The Nichols Ranch Uranium Complex is an existing in situ recovery (ISR) mine with associated prospective ISR properties.

The Nichols Ranch mining unit includes the Nichols Ranch Area, Jane Dough Area and Hank Area.

Energy Fuels 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 built as a satellite facility to the Nichols Ranch pant.

Brief History  
Production at the mine started in 2014. The mine is currently on standby until uranium prices improve.

Primary Metals/Minerals  
Uranium.

Secondary Metals/Minerals  
None stated.

Geology/Mineralisation  
The complex is located in the Powder River basin, which is a large structural and topographic depression subparallel to the trend of the Rocky Mountains. The basin is bounded on the south by the Hartville Uplift and the Laramie Range, on the east by the Black Hills, and on the west by the Big Horn Mountains and the Casper Arch. The Miles City Arch in south-eastern Montana forms the northern boundary of the basin.

Uranium mineralisation at the complex deposits is hosted by the Eocene Wasatch Formation. The Wasatch Formation was deposited in a multichannel fluvial and flood plain environment. The climate at the time of deposition was wet tropical to subtropical with medium stream and river sediment load depositing most medium-grained materials. The source of the sediments, as evidenced by abundant feldspar grains in the sandstones, was the nearby Laramie and Granite mountains

Reserves  
Not stated.

Resources  
Total measured and indicated resources as at December 31, 2022, are estimated at 3.29-million tonnes of mineralised material grading 0.106% uranium. Inferred resources are estimated at 650 000 t of mineralised material grading 0.097% uranium.

Type of Mine
ISR.

Mining Method  
ISR mining.

Major Infrastructure/Equipment
Basic infrastructure, such as power, water and transportation, necessary to support an ISR mining operation, has been established at the Nichols Ranch uranium complex.

Nonpotable water is and/or will be supplied by wells developed at or near the mine sites. Water extracted as part of ISR operations will be recycled for reinjection.

Typical ISR mining operations also require a disposal well for limited quantities of fluids that cannot be returned to the production aquifers. Two deep disposal wells have been permitted and are operational at the Nichols Ranch ISR plant.

Prospects  
Nichols Ranch mine has significant expansion potential; however, Energy Fuels expects to maintain the Nichols Ranch on standby and defer development of further wellfields and header house, until market conditions improve sufficiently, suitable term sales contracts can be procured, the US Uranium Reserve Program is expanded, or a combination thereof.

Contact Details
Energy Fuels
Tel +1 303 974 2140
Email info@energyfuels.com

Sources
Energy Fuels. Website: https://www.energyfuels.com
Energy Fuels. Form 10K for the year ended December 31, 2022.
Energy Fuels. Technical report on the Nichols Ranch project, Campbell and Johnson counties, Wyoming, USA (February 8, 2023).