The Deposits are classified as sandstone hosted - uranium deposits. Sandstone-type uranium deposits typically occur in fine to coarse grained sediments deposited in a continental fluvial environment. The uranium may be derived from a weathered rock containing anomalously high concentrations of uranium, leached from the sandstone itself or an adjacent stratigraphic unit. It is then transported in oxygenated water until it is precipitated from solution under reducing conditions at an oxidation-reduction interface. The reducing conditions may be caused by such reducing agents in the sandstone as carbonaceous material, sulphides, hydrocarbons, hydrogen sulphide, or brines. Uranium mineralization on the Property is hosted by favorable sandstone horizons in the lowermost portion of the Salt Wash Member of the Jurassic age Morrison Formation, where detrital organic debris is present. Mineralization primarily consists of coffinite, with minor uraninite, which usually occurs in close association with vanadium mineralization. Mineralization occurs as intergranular disseminations, as well as coatings and/or cement on and between sand grains and organic debris. Vanadium occurs as montroseite (hydrous vanadium oxide) and vanadium chlorite in primary mineralized zones located below the water table (i.e., the northernmost portion of the Tony M deposit). The vanadium content of the Henry Mountains Basin deposits is relatively low compared to many other Salt Wash hosted deposits on the Co ........

The former Tony M mine was designed as a random room and pillar operation with pillar extraction by a retreat system. The pillars are 136 ft by 136 ft and form a conventional room and pillar pattern.

The Tony M mine is accessed via a double entry system with two parallel declines spaced 50 ft apart on centres. The portals of the two 9 ft high by 12 ft wide main haulage ways are located on the northwesterly side of Shootaring Canyon near the south centre of Section 16 T35S R11E SLM with a sill elevation of approximately 4,546 feet above sea level (FASL). The declines follow a minus three percent grade (i.e., 3 ft/100 ft) along a trend of N22°W, and generally follow the long axis of the mineralized trend, extending approximately 10,200 ft from the portal. The declines intersected the natural water table approximately 5,300 ft from the portal.

Plateau developed over 18 mi of underground workings in the Tony M mine. In 1984, dewatering was suspended, and the Tony M mine was allowed to flood. When USEC abandoned the Tony M mine in the late 1990s, the portals were closed, and the ventilation shafts capped as part of mine closure and reclamation activities.

When Denison operated the Tony M mine from 2007 to 2008, several surface facilities were constructed, including a power generation station, compressor station, fuel storage facilities, maintenance building, offices, and dry facilities. An evaporation pond which was originally constructed when th ........

In connection with the completion of the Acquisition, CUR will enter a toll milling agreement with an affiliate of Energy Fuels pursuant to which Energy Fuels will toll-mill economic mineralization mined from the Project at the White Mesa Mill, subject to payment by CUR of a toll-milling fee and certain other terms and conditions.

The White Mesa Mill is located six miles south of Blanding in southeastern Utah. Its construction by EFNI was based on the anticipated reopening of many small low grade mines on the Colorado Plateau. The White Mesa Mill was designed to treat 2,000 stpd but has periodically operated at rates in excess of the 2,000 stpd design rate. Construction of the White Mesa Mill commenced in June 1979 and was completed in May 1980. The White Mesa Mill has been modified to treat higher grade ores from the Arizona Strip, in addition to the common Colorado Plateau ores. Processing of Arizona Strip ores is typically at a lower rate of throughput than for the Colo ........