DRC-2012-001625 - 0901a068802e84c1

nRC-2012-00i625
June 27, 2012
VIA FEDERAL EXPRESS
Mr John Hultquist
Director of the Utah Division of Radiation Control
State of Utah Department of Environmental Quality
195 North 1950 West
PO 80x144850
Salt Lake City, UT 84114-4850
Re: Commitment Letter
Dear Mr Hultquist
Please find enclosed the revised commitment letter signed by Energy Fuels Inc Please
destroy all versions of the previous letter we sent and replace with this one
Thanks again for your help and we look fonA^ard to working with you
Yours truly,
Energy Fuels Inc
Curtis H Moore
tneigy Fuels Resouices Corp
www enei a:\faeIs com
44 Union B!vd , Suite 600
Lakevvood Coioiado 80228
Phone [phone]
Fax [phone]
EnB-^FudsInc
June 27, 2012
VIA PDF AND FEDERAL EXPRESS
Mr Rusty Lundberg
Director of the Utah Division of Radiation Control
State of Utah Department of Environmental Quality
195 North 1950 West
PO Box 144850
Salt Lake City, UT 84114-4850
Re: Acquisition by Energy Fuels Inc. of Denison Mines Corp.'s U.S. Operations.
State of Utah Radioactive Materials License No. UT1900479 and State of Utah
Ground Water Discharge Permit No. UGW370004
Dear Mr Lundberg
Reference is made to the notice (the "Notice") dated May 25, 2012, provided to you by
Denison Mines (USA) Corp ("DUSA"), of the intended acquisition by Energy Fuels Inc
("Energy Fuels") of all of Denison Mines Corp's ("Denison's") United States operations,
and request under Utah Administrative Code R313-19-34(2) for approval by the
Executive Secretary of the State of Utah Radiation Control Board of the resulting indirect
change of control of State of Utah Radioactive Matenals License No UT1900479 (the
"Mill License") for the White Mesa uranium mill (the "Mill") from Denison to Energy Fuels
Denison is the ultimate parent company of DUSA, the holder of the Mill License The
Mill License will continue to be held by DUSA
This IS to confirm that Energy Fuels is familiar with the Mill's quarterly Groundwater
Monitonng Reports, Semi-Annual Effluent Reports and other penodic reports filed with
the Utah Department of Environmental Quality Energy Fuels is aware that descnptions
of the Mill facility with regard to existing contamination and ambient radiation levels are
contained in those reports and in other publicly available documents Energy Fuels is
knowledgeable of the extent and levels of contamination and applicable
decommissioning requirements at the
Upon completion of the Transaction descnbed in the Notice, Energy Fuels will become
the ultimate parent company of DUSA Energy Fuels confirms and agrees that, as
Eneigy Fuels Resouices Corp
w WW enei fuels com
44 Union Bhd , Suite 600
Lakewood Coioiado 80228
Phone [phone]
Fax [phone]
ultimate parent company and owner of all of the outstanding shares of DUSA, it will not
take any action, in its capacity as shareholder, that would interfere with DUSA's ability to
abide by all constraints, license conditions, requirements, representations, and
commitments identified in and attnbuted to the Mill License and the above-referenced
Groundwater Discharge Permit
If you have any questions or require any further information, please contact me
Yours truly.
Energy Fuels Inc
Stephen P Antony
President and Chief Executive Officer
cc Curtis H Moore, Energy Fuels
Ron F Hochstein, Denison
Harold R Roberts, Denison
David C Frydenlund, Denison
Eneigy Fuels Inc
Suite 500, 2 Toronto Stieet
Toi onto, Ontario M5C 2B6
www ener«:\luels com
44 Union Blvd , Suite 600
Lakewood Coioiado 80228
Phone [phone]
Fax [phone]