Rim Mine

The Rim Mine is located in the Uravan Mineral Belt 15 miles northeast of Montecello, Utah and approximately 62 road miles from the White Mesa Mill. It currently has 26 unpatented lode mineral claims, a private lease, and a State Mineal Lease totalling about 1,100 acres. It consists of a high vanadium-to-uranium ration at 9.25:1.

The mine has operated historically on a periodic basis starting in the mid-1960s. Mining recommenced in 2008 by Denison Mines, but as a result of declining uranium prices, was placed on standby in late 2010. Energy Fuels acquired the property in 2012 and has maintained it on care and maintenance since that time, such that it can be restarted with relatively little permitting or development costs. The mine can be turned on relatively quickly as surface infrastructure, portals, declines and underground workings are in place.

A 15-hole program totalling 10,000 ft will commence immediately following completion of the Daneros program and will focus on areas outside of the historic resource estimate.