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CONSENT OF TREC, INC.

The undersigned hereby consents to:

|(i)   | the filing of the written disclosure (the Technical
      Disclosure) regarding (a) the technical report entitled Technical
      Report, North Rolling Pin Property, Campbell County, Wyoming, U.S.A.
      dated June 4, 2010, (b) the technical report entitled Technical Report,
      Reno Creek Property, Campbell County, Wyoming, U.S.A. dated October 13,
      2010, and (c) the technical report entitled Technical Report, West North
      Butte Satellite Properties, Campbell County, Wyoming, U.S.A. dated
      December 9, 2008, contained in the Annual Report on Form 10-K for the
      period ended December 31, 2015 (the 10-K) of Energy Fuels Inc. (the
      Company) being filed with the United States Securities and Exchange
      Commission;
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|(ii)  | the incorporation by reference of such Technical
      Disclosure in the 10-K into the Companys Form S-8 Registration Statements
      (File Nos. 333-205182 and 333-194900), and any amendments thereto (the
      S-8s);                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|(iii) | the incorporation by reference of such Technical
      Disclosure in the 10-K into the Companys Form F-4 Registration Statement,
      as amended (File No. 333-203996) (the F- 4); and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|(iv)  | the use of our name in the 10-K, the S-8s and the
    F-4.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

TREC, INC.

/s/ Douglass GravesName: Douglass GravesTitle: President


Date: March 15, 2016

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