X0306 4 2015-06-18 1 0001162324 URANERZ ENERGY CORP. URZ 0001134878 HIGGS DENNIS LYLE SUITE 1410 800 WEST PENDER STREET VANCOUVER A1 V6C 2V6 BRITISH COLUMBIA, CANADA 1 1 0 0 Executive Chairman Common shares 2015-06-18 4 D 0 1870000 D 0 D Option 0.75 2015-06-18 4 D 0 75000 D 2006-01-06 2016-01-06 Common stock 75000 0 D Option 2.64 2015-06-18 4 D 0 62500 D 2008-01-07 2018-01-07 Common stock 62500 0 D Option 0.65 2015-06-18 4 D 0 20000 D 2009-01-05 2019-01-05 Common stock 20000 0 D Option 1.33 2015-06-18 4 D 0 35000 D 2010-01-05 2020-01-05 Common stock 35000 0 D Option 1.89 2015-06-18 4 D 0 67500 D 2011-12-12 2021-12-12 Common stock 67500 0 D Option 1.32 2015-06-18 4 D 0 67500 D 2012-12-17 2022-12-16 Common stock 67500 0 D Option 1.22 2015-06-18 4 D 0 107500 D 2013-07-12 2023-07-11 Common stock 107500 0 D Option 1.14 2015-06-18 4 D 0 73000 D 2015-01-17 2025-01-16 Common stock 73000 0 D This transaction reflects the disposition of the securities of the Issuer held by the reporting person pursuant to the Agreement and Plan of Merger dated January 4, 2015, as amended (the "Merger Agreement"), by and among the Issuer, Energy Fuels Inc. (the "Acquirer"), and EFR Nevada Corp. The parties completed the merger on June 18, 2015 (the "Closing Date"), with each share of common stock of the Issuer being exchanged for 0.255 shares of the Acquirer (the "Exchange Ratio"). Under the terms of a severance agreement entered into between the reporting person and the Acquirer as at the Closing Date, this option will continue for a term of 24 months following the Closing Date (or such later term as applicable under the terms of the stock option plan of the Acquirer governing such stock options). This option, which is fully vested and exercisable, was assumed by the Acquirer and replaced with an option to purchase shares of common stock of the Acquirer. Both the number of shares under the option and the exercise price are adjusted by the Exchange Ratio. /s/ Dennis Lyle Higgs 2015-06-26