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CONSENT OF PETERS GEOSCIENCES

The undersigned hereby consents to:

|(i) | the filing of the written disclosure (the Technical
      Disclosure) regarding:
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|    | (b)                                                                               
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|    | (f)                                                                               

contained in the Annual Information Form for the period ended
December 31, 2014 (the AIF) of Energy Fuels Inc. (the Company) being filed
as an exhibit to the Companys Form 40-F Annual Report for the period ended
December 31, 2014, and any amendments thereto (the 40-F), being filed with the
United States Securities and Exchange Commission (the SEC);

|(ii)  | the incorporation by reference of such Technical
      Disclosure in the 40-F and the AIF into the Companys Form S-8
      Registration Statement (File No. 333-194900), filed with the SEC, and any
      amendments thereto (the S-8);
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|(iii) | the incorporation by reference of such Technical
      Disclosure in the AIF into the Companys Form F-10 Registration Statement
      (File No. 333-194916), filed with the SEC, and any amendments thereto (the
      F-10); and       
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|(iv)  | the use of our name in the AIF, the F-10, the 40-F and
      the S-8.                                                                                                                                                                      

| | PETERS GEOSCIENCES /s/
      Douglas C. Peters
| | ----------------------------------------------
| | Name: Douglas C. Peters                       
| | Title  Owner                                  

Date: March 19, 2015

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