Summary

Mine Type	Underground
Stage	Permitting
Commodities	Uranium
Mining Method	Longhole stoping Room-and-pillar Pillar extraction
Mine Life	...
Snapshot	The Bullfrog Project (formerly referred to as the Henry Mountains Complex) consists of two separate contiguous deposits, also known as Copper Bench and Indian Bench. The Energy Fuels has not performed any work on the property since the Bullfrog Project was acquired in 2012. Due to improvement in the uranium market in recent years, Energy Fuels is planning to conduct additional evaluation work at the Bullfrog Project during 2025. Energy Fuels plans on continuing an engineering study started in 2024 to determine the surface and underground infrastructure required to bring the Project into production. This information will also be used in permitting activities associated with the Project.

Deposit type

• Sandstone hosted

Summary:

The Bullfrog Project consists of two separate contiguous deposits, also known as Copper Bench and Indian Bench.

The Copper Bench and Indian Bench 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 groundwater 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, sulfides, hydrocarbons, hydrogen sulfide, or brines.

Uranium mineralization on the Bullfrog 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. Uranium 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.

The vanadium content of the Henry Mountains Basin deposits is relatively low compared to many other Salt Wash hosted deposits on the Colorado Plateau. Furthermore, the Henry Mountains Basin deposits occur in broad alluvial sand accumulations, rather than in major sandstone channels as is typical of the Uravan Mineral Belt deposits of western Colorado. The Henry Mountains Basin deposits do, however, have the same general characteristic geochemistry of the Uravan deposits, and are therefore classified as Salt Wash type deposits.

The Bullfrog deposit extends approximately 3.5 mi along a northwesterly trend to the northeast of the Tony M-Southwest deposit. Mineralization of the Bullfrog deposits ranges in thicknesses of three feet to six feet but occasionally is shown on radiometric logs exceeding 12 ft in some portions of the Project area.

Mining Methods

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Comminution

Crushers and Mills

Processing

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Commodity Production

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Mar 4, 2025
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