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<SEC-DOCUMENT>0000945234-08-000027.txt : 20080129
<SEC-HEADER>0000945234-08-000027.hdr.sgml : 20080129
<ACCEPTANCE-DATETIME>20080129134037
ACCESSION NUMBER:		0000945234-08-000027
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20080129
DATE AS OF CHANGE:		20080129
EFFECTIVENESS DATE:		20080129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DENISON MINES CORP.
		CENTRAL INDEX KEY:			0001063259
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-148915
		FILM NUMBER:		08557131

	BUSINESS ADDRESS:	
		STREET 1:		1050 SEVENTEENTH STREET
		STREET 2:		SUITE 950
		CITY:			DENVER
		STATE:			CO
		ZIP:			80265
		BUSINESS PHONE:		3036287798

	MAIL ADDRESS:	
		STREET 1:		1050 SEVENTEENTH STREET
		STREET 2:		SUITE 950
		CITY:			DENVER
		STATE:			CO
		ZIP:			80265

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL URANIUM CORP
		DATE OF NAME CHANGE:	19980603
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>o39156sv8.htm
<DESCRIPTION>REGISTRATION STATEMENT ON FORM S-8
<TEXT>
<HTML>
<HEAD>
<TITLE>Registration Statement on Form S-8</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Denison Mines Corp.</B><BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Exact name of registrant as specified in its charter)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Ontario, Canada</B><BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(State or other jurisdiction of incorporation)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Atrium on Bay, 595 Bay Street, Suite&nbsp;402, Toronto, Ontario M5G 2C2</B><BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Address of principal executive offices)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Share Option Plan</B><BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Full title of Plan)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Denison Mines (USA)&nbsp;Corp.</B><BR>
1050 17<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Street, Suite&nbsp;950<BR>
Denver, CO 80265<BR>
Phone: 303-628-7798<BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Name, address and telephone number of agent for service in the United States)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR style="font-size: 1px" valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD nowrap align="center"><B>Title of Securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount to be</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount of</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>to be Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registered (1)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Per Share (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registration Fee</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, no par value</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 2px solid #000000">13,300,000&nbsp;shares</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="2" align="center" style="border-top: 2px solid #000000">$5.82</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="2" align="center" style="border-top: 2px solid #000000">$77,406,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="2" align="center" style="border-top: 2px solid #000000">$3,042.06</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="margin-top: 3pt">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Plus such indeterminate number of Common Shares of the Registrant as may be issued to prevent
dilution resulting from stock dividends, stock splits or similar transactions in accordance
with Rule&nbsp;416 under the Securities Act of 1933.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for purposes of calculating the registration fee in accordance with Rule&nbsp;457
under the Securities Act based upon the average of the reported high and low sales price of
the Common Shares of the Registrant on January&nbsp;22, 2008, on the American Stock Exchange
(a date within five business days of the filing of this Registration Statement), which was $5.82.</TD>
</TR>

</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPLANATORY NOTE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Registration Statement on Form S-8 is being filed to register 13,300,000 additional Common
Shares of the Registrant (the &#147;Company&#148;) which have been reserved for issuance under the Company&#146;s
Amended and Restated Share Option Plan, as most recently amended by the Board of Directors on
October&nbsp;19, 2006 and approved by the shareholders on November&nbsp;20, 2006 (the &#147;Plan&#148;). The Common
Shares originally reserved under the Plan (a total of 6,700,000 shares) were previously registered
on a Registration Statement on Form&nbsp;S-8 (No.&nbsp;333-48174). Following registration of the 13,300,000
Common Shares covered under this Registration Statement, a total of 20,000,000 Common Shares of the
Registrant reserved under the Plan have now been registered.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of Form S-8 are not required to
be filed with the SEC either as part of this registration statement pursuant to the Note to Part&nbsp;I
of Form S-8 and Rule&nbsp;424 under the Securities Act of 1933. The information required in the Section
10(a) prospectus is included in documents being maintained and delivered by the Registrant as
required by Part&nbsp;I of Form S-8 and by Rule&nbsp;428 under the Securities Act of 1933.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by the Registrant pursuant to the Securities Exchange Act of
1934, as amended (the &#147;Exchange Act&#148;) are incorporated herein by reference:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Annual Report on Form 40-F for the 15&nbsp;months ended
December&nbsp;31, 2006, which contains audited financial statements for such period.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All other reports filed by the Registrant under Section 13(a) or 15(d) of
the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) since December&nbsp;31, 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Registrant&#146;s Common Stock contained in the
Registrant&#146;s Registration Statement filed under Section&nbsp;12 of the Exchange Act,
including any amendment or report filed for the purpose of updating such description.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->-2-<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all reports and documents filed by the Registrant under Section&nbsp;13(a), 13(c), 14
or 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing
of a post-effective amendment which indicates that all securities being offered have been sold or
which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
reference in and to be part of this Registration Statement from the date of filing of each such
document, except as to any portion of any document that is not deemed filed under such provisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description of Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interests of Named Experts and Counsel.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s Bylaws provide that a director or officer will not be liable for monetary
damages incurred by the Registrant in the execution of the duties of his office or in relation
thereto unless due to his failure to exercise the powers and to discharge the duties of his office
honestly, in good faith and in the best interests of the Registrant and in connection therewith to
exercise the degree of care, diligence and skill that a reasonably prudent person would exercise in
comparable circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, as permitted by the Ontario Business Corporations Act, the Registrant&#146;s Bylaws
provide that the Registrant will indemnify its directors and officers and any former directors or
officers of the Registrant or persons who act or acted at the Registrant&#146;s request as a director or
officer of a body corporate of which the Registrant is or was a shareholder or creditor, and his or
her heirs and legal representatives, against all costs, charges and expenses, including an amount
paid to settle an action or satisfy a judgment, reasonably incurred by him or her in respect of any
civil, criminal or administrative action or proceeding to which he or she is made a party by reason
of being or having been a director or officer of the Registrant or such body corporate, if,
</DIV>

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>he or she acted honestly and in good faith with a view to the best
interests of the Registrant; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of a criminal or administrative action or proceeding that is
enforced by a monetary penalty, he or she had reasonable grounds for believing that
his or her conduct was lawful.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Ontario Business Corporations Act also provides, and the Registrant&#146;s Bylaws permit, that, with
the approval of the court, such persons may also be indemnified by the Registrant in respect of an
action by or on behalf of the Registrant or any such body corporate to procure a judgment in its
favor, to which the person is made a party by reason of being or having been a director or
officer of the Registrant or such body corporate. Generally, any director or officer who is
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->-3-<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">entitled to an indemnity may also be indemnified by the Registrant for all of his or her costs,
charges and expenses reasonably incurred in defending his or her position, if he or she was
substantially successful in his or her defense and fulfills the conditions in clauses (a)&nbsp;and (b)
above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has purchased insurance for the benefit of all directors and officers against
liability incurred by them in their capacity as a director or officer of the Registrant or its
subsidiaries in an aggregate amount of Cdn $20,000,000 (made up of Cdn $10,000,000 in primary
coverage and Cdn $10,000,000 in additional coverage). The policy contains a number of exclusions
and limitations to the coverage provided, as a result of which, the Registrant may, under certain
circumstances, be obligated to indemnify its directors or officers for certain claims that do not
fall within the coverage under the policy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The above discussion of the Registrant&#146;s Bylaws and Ontario law is not intended to be
exhaustive and is qualified in its entirety by such Bylaws, the Registrant&#146;s Certificate of
Incorporation and Ontario Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exemption from Registration Claimed.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed as part of this Registration Statement:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Blake, Cassels &#038; Graydon LLP</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Share Option Plan</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Blake, Cassels &#038; Graydon LLP (included in the Opinion
filed as Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers
LLP, independent accountants, with
respect to the consolidated financial statements of the Registrant.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-4-<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Undertaking.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned Registrant hereby undertakes, except as otherwise specifically provided in the
rules of the Securities and Exchange Commission promulgated under the Securities Act of 1933:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(ii)&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the prospectus any facts or events arising after the effective date of
this Registration Statement (or the most recent post-effective amendment hereof) which,
individually or in the aggregate, represent a fundamental change in the information set forth in
this Registration Statement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(iii)&nbsp;&nbsp;&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in this Registration Statement or any material change to such information in
this Registration Statement;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 9pt">provided, however, that paragraphs (1)(i) and (1)(ii) do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in periodic reports
filed by the Registrant pursuant to Section&nbsp;13 or Section 15(d) of the Securities Exchange Act of
1934 that are incorporated by reference in this Registration Statement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under
the Securities Act of 1933, each filing of the Registrant&#146;s annual report pursuant to Section 13(a)
or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
such Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in such Act and
will be governed by the final adjudication of such issue.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-5-<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on From S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Toronto, Province of Ontario, Canada, on the
23<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> day of January, 2008.
</DIV>

<DIV align="center" style="margin-top: 12pt">

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">DENISON MINES CORP.<BR><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;&nbsp; E. Peter Farmer
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">E. Peter Farmer, Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been
signed below by the following persons in the capacities listed below and on the date indicated and
each of the undersigned persons, in any capacity, hereby appoints E. Peter Farmer, Ron F. Hochstein
and James R. Anderson severally as attorneys-in-fact of the undersigned, with full power of
substitution and resubstitution, to sign this Registration Statement and any and all amendments
(including post-effective amendments and any registration statements pursuant to Rule 462(b) under
the Securities Act of 1933) and supplements and exhibits thereto and to file the same, and other
documents in connection therewith, with the Securities and Exchange Commission, and authorizes each
of them to do and perform each and every act necessary to be done in connection therewith.
</DIV>
<DIV align="center" style="margin-top: 9pt">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Title</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 2em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;E Peter Farmer
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chief Executive Officer and Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;Ron F. Hochstein
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
President &#038; Chief Operating Officer and Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;James R. Anderson
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Executive Vice President and Chief Financial
Officer</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;Michael J. Schoonderwoerd
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Controller</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-6-<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Title</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 2em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;John H. Craig
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;W. Robert Dengler
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;Brian D. Edgar
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;Paul F. Little
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;Lukas H. Lundin
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;William A. Rand
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;Roy J. Romanow
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/&nbsp;&nbsp;Catherine J. G. Stefan
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-7-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Blake, Cassels &#038; Graydon LLP</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Share Option Plan</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Blake, Cassels &#038; Graydon LLP (included in the Opinion
filed as Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers
LLP, independent accountants, with
respect to the consolidated financial statements of the Registrant.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-8-<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>o39156exv5w1.htm
<DESCRIPTION>OPINION OF BLAKE, CASSELS & GRAYDON LLP
<TEXT>
<HTML>
<HEAD>
<TITLE>Opinion of Blake, Cassels & Graydon LLP</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;5.1 &#151; OPINION OF BLAKE, CASSELS &#038; GRAYDON LLP
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 21pt">January&nbsp;23, 2008<BR>
Denison Mines Corp.<BR>
Atrium on Bay<BR>
595 Bay Street<BR>
Suite&nbsp;402<BR>
Toronto, ON M5G 2C2

</DIV>

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">Re:&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Registration Statement on Form&nbsp;S-8</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At your request, we have examined the form of Registration Statement on Form S-8 (the
&#147;Registration Statement&#148;) being filed by Denison Mines Corp. (the &#147;Company&#148;) with the U.S.
Securities and Exchange Commission in connection with the registration under the U.S. Securities
Act of 1933, as amended (the &#147;Act&#148;), of an additional 13,300,000 common shares of the Company (the
&#147;Common Shares&#148;), issuable under the Company&#146;s Share Option Plan approved by the shareholders of
the Company on February&nbsp;14, 1997, as amended on March&nbsp;19, 1999, March&nbsp;22, 2006 and November&nbsp;20,
2006 (the &#147;Option Plan&#148;) .
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the purpose of this opinion, we have examined and reviewed the corporate proceedings and
records of the Company relating to the approval of the Option Plan and the issuance of the Common
Shares. We have assumed the genuineness of all signatures and the authenticity of all documents
submitted to us as originals and the conformity to authentic or original documents of all documents
submitted to us as a certified, conformed or photostatic copies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion is limited to the laws of the province of Ontario and the federal laws of Canada
applicable therein. We do not express any opinion on any laws other than the laws of the province
of Ontario and the laws of Canada applicable therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon and subject to the foregoing, we are of the opinion that the issuance of the Common
Shares has been duly and properly authorized and the Common Shares will, at the time of their
issuance upon the due and proper exercise of options granted under the Option Plan, be validly
issued and outstanding as fully paid and non-assessable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to the use of this opinion as an exhibit to the Registration Statement. In giving
this consent, however, we do not admit that we are &#147;experts&#148; within the meaning of Section&nbsp;11 of
the Act as amended, or within the category of persons whose consent is required by Section&nbsp;7 of the
Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 24pt">Yours truly,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 24pt">/s/&nbsp;&nbsp;Blake, Cassels &#038; Graydon
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>o39156exv10w1.htm
<DESCRIPTION>AMENDED & RESTATED SHARE OPTION PLAN
<TEXT>
<HTML>
<HEAD>
<TITLE>Amended & Restated Share Option Plan</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 6pt"><B>Exhibit
10.1</B></DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><IMG src="o39156o3915600.gif" alt="(DENISON MINES LOGO)">

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 24pt"><B>SHARE OPTION PLAN</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>(As
amended by the Corporation&#146;s Board of Directors on
February&nbsp;4, 1998 and approved by the Corporation&#146;s
shareholders on March&nbsp;23,<BR>1998
and further amended by the Board of Directors on February&nbsp;10,
2005 and approved by shareholders on March&nbsp;22, 2005 and
further<BR>amended by
the Board of Directors on October&nbsp;19, 2006 and approved by the shareholders on November&nbsp;20, 2006.)</I>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 1<BR>
Purpose of Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1.1&nbsp;&nbsp;&nbsp;The purpose of the Plan is to attract, retain and motivate persons as directors, officers, key
employees and consultants of the Corporation and its Subsidiaries and to advance the interests of
the Corporation by providing such persons with the opportunity, through share options, to acquire
an increased proprietary interest in the Corporation.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 2<BR>
Defined Terms</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where used herein, the following terms shall have the following meanings, respectively:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.1&nbsp;&nbsp;&nbsp;<B>Board </B>means the board of directors of the Corporation or, if established and duly authorized to
act, the Executive Committee or another Committee appointed for such purpose by the board of
directors of the Corporation;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.2&nbsp;&nbsp;&nbsp;<B>Business Day </B>means any day, other than a Saturday or a Sunday, on which the Exchange is open
for trading;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.3&nbsp;&nbsp;&nbsp;<B>Code </B>means the <I>U.S. Internal Revenue Code of 1986</I>, as amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.4&nbsp;&nbsp;&nbsp;<B>Consultant </B>means an individual (including an individual whose services are contracted through a
personal holding corporation) with whom the Corporation or any Subsidiary has a contract for
substantial services;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.5&nbsp;&nbsp;&nbsp;<B>Corporation </B>means <B>DENISON MINES CORP. </B>(formerly named International Uranium Corporation) and
includes any successor corporation thereto;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.6&nbsp;&nbsp;&nbsp;<B>Eligible Person </B>means any director, officer, employee (part-time or full-time) or Consultant of
the Corporation or any Subsidiary or any employee of any management company providing services to
the Corporation;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.7&nbsp;&nbsp;&nbsp;<B>Exchange </B>means The Toronto Stock Exchange and, where the context permits, any other exchange on
which the Shares are or may be listed from time to time;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.8&nbsp;&nbsp;&nbsp;<B>Incentive Stock Option </B>means an Option to purchase Shares granted under Article&nbsp;5 with the
intention that it qualify as an &#147;incentive stock option&#148; as that term is defined in
Section&nbsp;422 of the Code;
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">2.9&nbsp;&nbsp;&nbsp;<B>Insider </B>means:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an insider as defined under Section&nbsp;1(1) of the <I>Securities Act </I>(Ontario), other than a person
who falls within that definition solely by virtue of being a director or senior officer of a
Subsidiary; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an associate as defined under Section&nbsp;1(1) of the <I>Securities Act </I>(Ontario) of any person who
is an insider by virtue of (a)&nbsp;above;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.10&nbsp;&nbsp;&nbsp;<B>Market Price </B>at any date in respect of the Shares shall be the greatest closing price of such
Shares on any Exchange on the last trading day preceding the date on which the Option is approved
by the Board (or, if such Shares are not then listed and posted for trading on the Exchange, on
such stock exchange in Canada on which the Shares are listed and posted for trading as may be
selected for such purpose by the Board). In the event that such Shares are not listed and posted
for trading on any stock exchange, the Market Price shall be the fair market value of such Shares
as determined by the Board in its sole discretion;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.11&nbsp;&nbsp;&nbsp;<B>Nonqualified Stock Option </B>means an Option to purchase Shares granted under Article&nbsp;5 other
than an Incentive Stock Option;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.12&nbsp;&nbsp;&nbsp;<B>Option </B>means an option to purchase Shares granted under the Plan;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.13&nbsp;&nbsp;&nbsp;<B>Option Price </B>means the price per Share at which Shares may be purchased under the Option, as
the same may be adjusted from time to time in accordance with Article&nbsp;8;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.14&nbsp;&nbsp;&nbsp;<B>Optionee </B>means an Eligible Person to whom an Option has been granted;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.15&nbsp;&nbsp;&nbsp;<B>Person </B>means an individual, a corporation, a partnership, an unincorporated association or
organization, a trust, a government or department or agency thereof and the heirs, executors,
administrators or other legal representatives of an individual and an associate or affiliate of any
thereof as such terms are defined in the <I>Business Corporations Act, Ontario</I>;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.16&nbsp;&nbsp;&nbsp;<B>Plan </B>means the Corporation&#146;s Share Option Plan, as the same may be amended or varied from time
to time;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.17&nbsp;&nbsp;&nbsp;<B>Share Compensation Arrangement </B>means any stock option, stock option plan, employee stock
purchase plan or any other compensation or incentive mechanism involving the issuance or potential
issuance of Shares, including a share purchase from treasury which is financially assisted by the
Corporation by way of a loan, guarantee or otherwise;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.18&nbsp;&nbsp;&nbsp;<B>Shares </B>means the common shares of the Corporation or, in the event of an adjustment
contemplated by Article&nbsp;8, such other shares or securities to which an Optionee may be entitled
upon the exercise of an Option as a result of such adjustment; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.19&nbsp;&nbsp;&nbsp;<B>Subsidiary </B>means any corporation which is a subsidiary as such term is defined in subsection
1(2) of the <I>Business Corporations Act, Ontario </I>(as such provision is from time to time amended,
varied or re-enacted) of the Corporation.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 3<BR>
Administration of the Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3.1&nbsp;&nbsp;&nbsp;The Plan shall be administered in accordance with the rules and policies of the Exchange in
respect of employee stock option plans by the Board. The Board shall receive recommendations of
management and shall determine and designate from time to time those directors, officers, employees
and Consultants of the Corporation or its Subsidiaries and those employees of management companies
providing services to the Corporation to whom an Option should be granted and the number of Shares,
which will be optioned from time to time to any individual and the terms and conditions of the
grant.
</DIV>

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</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">3.2&nbsp;&nbsp;&nbsp;The Board shall have the power, where consistent with the general purpose and intent of the
Plan and subject to the specific provisions of the Plan:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to establish policies and to adopt, prescribe, amend or vary rules and regulations for
carrying out the purposes, provisions and administration of the Plan and make all other
determinations necessary or advisable for its administration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to interpret and construe the Plan and to determine all questions arising out of the Plan and
any Option granted pursuant to the Plan and any such interpretation, construction or
determination made by the Board shall be final, binding and conclusive for all purposes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to determine which Eligible Persons are granted Options and to grant Options;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to determine the number of Shares covered by each Option;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to determine the Option Price;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to determine the time or times when Options will be granted and exercisable;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to determine if the Shares which are subject to an Option will be subject to any restrictions
upon the exercise of such Option; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to prescribe the form of the instruments relating to the grant, exercise and other terms of
Options which initially shall be substantially in the form annexed hereto as Schedule
&#147;A&#148;.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 4<BR>
Shares Subject to the Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">4.1&nbsp;&nbsp;&nbsp;Options may be granted in respect of authorized and unissued Shares provided that, subject to
increase by the Board, the receipt of the approval of the Exchange and the approval of shareholders
of the Corporation, the maximum aggregate number of Shares reserved by the Corporation for issuance
and which may be purchased upon the exercise of all Options granted under this Plan shall not
exceed 10% of the issued and outstanding shares of the Corporation from time to time, up to a
maximum of 20,000,000 Shares. Shares in respect of which Options are not exercised and
subsequently expire or are terminated, unexercised shall be available for subsequent Options under
the Plan. No fractional Shares may be purchased or issued under the Plan.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 5<BR>
Eligibility; Grant; Terms of Options</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.1&nbsp;&nbsp;&nbsp;Options may be granted to Eligible Persons and may consist of Incentive Stock Options and/or
Nonqualified Stock Options. Notwithstanding the foregoing, only employees of the Corporation or
one of its Subsidiaries that is also a &#147;subsidiary
corporation&#148; (as defined in Section
422 of the Code) may be granted Incentive Stock Options.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.2&nbsp;&nbsp;&nbsp;Options may be granted by the Corporation pursuant to the recommendations of the Board from
time to time provided and to the extent that such decisions are approved by the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.3&nbsp;&nbsp;&nbsp;Subject to the provisions of this Plan, the number of Shares subject to each Option, the Option
Price, the expiration date of each Option, the extent to which each Option is exercisable from time
to time during the term of the Option and other terms and conditions relating to each such Option
shall be determined by the Board. At no time shall the period during which an Option shall be
exercisable exceed 10&nbsp;years.
</DIV>

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</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">5.4&nbsp;&nbsp;&nbsp;In the event that no specific determination is made by the Board with respect to any of the
following matters, each Option shall, subject to any other specific provisions of the Plan, contain
the following terms and conditions:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the period during which an Option shall be exercisable shall be 10&nbsp;years from the date the
Option is granted to the Optionee;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Optionee may take up not more than 33 1/3% of the Shares covered by the Option during
each 12&nbsp;month period from the date of the grant of the Option; provided, however, that if the
number of Shares taken up under the Option during any such 12&nbsp;month period is less than 33
1/3% of the Shares covered by the Option, the Optionee shall have the right, at any time or
from time to time during the remainder of the term of the Option, to purchase such number of
Shares subject to the Option which were purchasable, but not purchased by him, during such 12
month period; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to the extent that the Option Price of Shares (determined on the date of grant) with respect
to which Incentive Stock Options are exercisable for the first time during any calendar year
(under the Plan and all other stock option plans of the Corporation) exceeds US$100,000, such
portion in excess of US$100,000 shall be treated as a Nonqualified Stock Option.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.5&nbsp;&nbsp;&nbsp;The Option Price of Shares which are the subject of any Option shall in no circumstances be
lower than the Market Price of the Shares at the date of the grant of the Option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.6&nbsp;&nbsp;&nbsp;The maximum number of Shares which may be reserved for issuance to Insiders under the Plan or
under any other Share Compensation Arrangement shall be 10% of the Shares outstanding at the date
of the grant (on a non-diluted basis).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.7&nbsp;&nbsp;&nbsp;The maximum number of Shares which may be issued to all Insiders under the Plan and any other
Share Compensation Arrangement in any 12&nbsp;month period shall be 10% of the Shares outstanding at the
date of the issuance (on a non-diluted basis).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.8&nbsp;&nbsp;&nbsp;Any entitlement to acquire Shares granted pursuant to the Plan or any other Share Compensation
Arrangement prior to the Optionee becoming an Insider shall be excluded for the purposes of the
limits set out in 5.6 and 5.7 above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.9&nbsp;&nbsp;&nbsp;An Option is personal to the Optionee and is non-assignable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.10&nbsp;&nbsp;&nbsp;All references in
the Plan to &#147;the Shares outstanding at the date of the
issuance&#148;
shall mean that number of Shares determined on the basis of the number of Shares that are
outstanding immediately prior to the share issuance in question, excluding Shares issued pursuant
to any Share Compensation Arrangement over the preceding one year period.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 6<BR>
Exercise of Options</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">6.1&nbsp;&nbsp;&nbsp;Subject to the provisions of the Plan, an Option may be exercised from time to time by delivery
to the Corporation at its registered office of a written notice of exercise addressed to the
Secretary of the Corporation specifying the number of Shares with respect to which the Option is
being exercised and accompanied by payment in full of the Option Price of the Shares to be
purchased. Certificates for such Shares shall be issued and delivered to the Optionee within a
reasonable period of time following the receipt of such notice and payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">6.2&nbsp;&nbsp;&nbsp;The exercise price for Shares purchased under an Option shall be paid in full to the
Corporation by delivery of consideration in an amount equal to the Option Price. Such
consideration must be paid in cash or by cheque or, unless the Board in its sole discretion
determines otherwise, either at the time the Option is granted or at any time before it is
exercised, a combination of cash and/or cheque (if any). The Corporation may permit an Optionee to
elect to pay the Option Price by authorizing a third party to sell Shares (or a sufficient portion
of such Shares)
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">acquired upon exercise of the Option and remit to the Corporation a sufficient portion of the sale
proceeds to pay the entire Option Price and any tax withholding resulting from such exercise. In
addition, the Option Price for Shares purchased under an Option may be paid, either singly or in
combination with one or more of the alternative forms of payment authorized by this Section&nbsp;6.2, by
such other consideration as the Board may permit. Notwithstanding the foregoing, if the Board
decides to grant stock appreciation rights, such rights shall be subject to the applicable
approvals provided for in Section&nbsp;9.1.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">6.3&nbsp;&nbsp;&nbsp;Notwithstanding any of the provisions contained in the Plan or in any Option, the Corporation&#146;s
obligation to issue Shares to an Optionee pursuant to the exercise of an Option shall be subject
to:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>completion of such registration or other qualification of such Shares or obtaining approval
of such governmental or regulatory authority as counsel to the Corporation shall reasonably
determine to be necessary or advisable in connection with the authorization, issuance or sale
thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the listing of such Shares on the Exchange, if applicable; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the receipt from the Optionee of such representations, agreements and undertakings, including
as to future dealings in such Shares, as the Corporation or its counsel reasonably determines
to be necessary or advisable in order to safeguard against the violation of the securities
laws of any jurisdiction.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this connection the Corporation shall, to the extent necessary, take all reasonable steps to
obtain such approvals, registrations and qualifications as may be necessary for the issuance of
such Shares in compliance with applicable securities laws and for the listing of such Shares on the
Exchange.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 7<BR>
Termination of Employment; Death</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">7.1&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;7.2 and any express resolution passed by the Board with respect to an
Option, an Option, and all rights to purchase pursuant thereto, shall expire and terminate 30&nbsp;days
following the date upon which the Optionee ceases to be a director, officer or a part-time or
full-time employee of the Corporation or of any Subsidiary. The entitlement of a Consultant to
Options including the termination thereof shall be in accordance with the terms of the consulting
agreement entered into between the Corporation or the Subsidiary and the Consultant, provided that
in no event shall the Options of any Consultant continue to be outstanding 12&nbsp;months following the
date upon which the consulting agreement between the Consultant and the Corporation or the
Subsidiary is terminated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">7.2&nbsp;&nbsp;&nbsp;If, before the expiry of an Option in accordance with the terms thereof, the employment of the
Optionee with the Corporation or with any Subsidiary shall terminate, in either case by reason of
the death of the Optionee, such Option may, subject to the terms thereof and any other terms of the
Plan, be exercised by the legal representative(s) of the estate of the Optionee at any time during
the first year following the death of the Optionee (but prior to the expiry of the Option in
accordance with the terms thereof) but only to the extent that the Optionee was entitled to
exercise such Option at the date of the termination of the Optionee&#146;s employment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">7.3&nbsp;&nbsp;&nbsp;Options shall not be affected by any change of employment of the Optionee or by the Optionee
ceasing to be a director where the Optionee continues to be employed by the Corporation or any
Subsidiary or continues to be a director or officer of, the Corporation or any Subsidiary.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 8<BR>
Change in Control and Certain Adjustments</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">8.1&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of this Plan in the event that the Corporation receives an
offer (the &#147;Offer&#148;) for:
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><!-- Folio -->- 6 -<!-- /Folio -->


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the acquisition by any Person of Shares or rights or options to acquire Shares of the
Corporation or securities which are convertible into Shares of the Corporation or any
combination thereof such that after the completion of such acquisition such Person would be
entitled to exercise 30% or more of the votes entitled to be cast at a meeting of the
shareholders; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the sale by the Corporation of all or substantially all of the property or assets of the
Corporation;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">then notwithstanding that at the effective time of the Offer the Optionee may not be entitled to
all the Shares granted by the Option, the Optionee shall be entitled to exercise the Options to the
full amount of the Shares remaining at that time from the date of the Offer to the date of 60&nbsp;days
following the close of any such transaction. If such transaction is not completed within 90&nbsp;days of
the date of the Offer and the Optionee has not so exercised that portion of the Option relating to
Shares to which the Optionee would not otherwise be entitled, this provision shall cease to apply
to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">8.2&nbsp;&nbsp;&nbsp;Appropriate adjustments with respect to Options granted or to be granted, in the number of
Shares optioned and in the Option Price, shall be made by the Board to give effect to adjustments
in the number of Shares of the Corporation resulting from subdivisions, consolidations or
reclassifications of the Shares of the Corporation, the payment of stock dividends or cash
dividends by the Corporation (other than dividends in the ordinary course), the distribution of
securities, property or assets by way of dividend or otherwise (other than dividends in the
ordinary course), or other relevant changes in the capital stock of the Corporation or the
amalgamation or merger of the Corporation with or into any other entity, subsequent to the approval
of the Plan by the Board. The appropriate adjustment in any particular circumstance shall be
conclusively determined by the Board in its sole discretion, subject to approval by the
Shareholders of the Corporation and to acceptance by the Exchange respectively, if applicable.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 9<BR>
Amendment or Discontinuance of Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">9.1&nbsp;&nbsp;&nbsp;(a)&nbsp;Board and requisite shareholder and regulatory approval shall be required for any of the
following amendments to be made to the Plan:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any amendment to the number of securities issuable under the Plan, including an
increase to a fixed maximum number of securities or a change from a fixed maximum
number of securities to a fixed maximum percentage. A change to a fixed maximum
percentage which was previously approved by shareholders will not require additional
shareholder approval.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any change to the definition of &#147;Eligible Person&#148; which would have the
potential of broadening or increasing insider participation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the addition of any form of financial assistance;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any amendment to a financial assistance provision which is more favourable to
participants;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the addition of a cashless exercise feature, payable in cash or securities
which does not provide for a full deduction of the number of underlying securities from
the Plan reserve;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the addition of a deferred or restricted share unit or any other provision
which results in Eligible Persons receiving securities while no cash consideration is
received by the Corporation;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>discontinuance of the Plan; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(viii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and any other amendments that may lead to significant or unreasonable dilution in the
Corporation&#146;s outstanding securities or may provide, additional benefits to Eligible
Persons, especially insiders of the Corporation, at the expense of the Corporation and
its existing shareholders.</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->- 7 -<!-- /Folio -->


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">9.1&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The Board may, subject to receipt of requisite regulatory approval, where required, in its
sole discretion make all other amendments to the Plan that are not of the type contemplated in
section 9.1(a) above including, without limitation:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>amendments of a &#147;housekeeping&#148; nature;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a change to the vesting provisions of a security or the Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a change to the termination provisions of a security or the Plan which does
not entail an extension beyond the original expiry date; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the addition of a cashless exercise feature, payable in cash or securities,
which provides for a full deduction of the number of underlying securities from the
Plan reserve.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">9.1&nbsp;&nbsp;&nbsp;(c)&nbsp;Notwithstanding the provisions of section 9.1(b), the Corporation shall additionally obtain
requisite shareholder approval in respect of amendments to the Plan that are contemplated pursuant
to section 9.1(b), to the extent such approval is required by any applicable laws or regulations
(including, without limitation, Section&nbsp;422 of the Code).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">9.1&nbsp;&nbsp;&nbsp;(d)&nbsp;Notwithstanding all of the foregoing, no amendment to the Plan may alter or impair any of
the terms of any Option previously granted to an Optionee under the Plan without the consent of the
Optionee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">9.2&nbsp;&nbsp;&nbsp;Any change or adjustment to an outstanding Incentive Stock Option shall not, without the
consent of the Optionee, be made in a manner so as to constitute a
&#147;modification&#148; that
would cause such Incentive Stock Option to fail to continue to qualify as an Incentive Stock
Option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">9.3&nbsp;&nbsp;&nbsp;The Plan will have no fixed expiration date; provided, however, that no Incentive Stock Options
may be granted more than 10&nbsp;years after the earlier of the Plan&#146;s adoption by the Board and
approval by the shareholders of the Corporation.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 10<BR>
Miscellaneous Provisions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">10.1&nbsp;&nbsp;&nbsp;The holder of an Option shall not have any rights as a shareholder of the Corporation with
respect to any of the Shares covered by such Option until such holder shall have exercised such
Option in accordance with the terms of the Plan (including tendering payment in full of the Option
Price of the Shares in respect of which the Option is being exercised) and the issuance of Shares
by the Corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">10.2&nbsp;&nbsp;&nbsp;Nothing in the Plan or any Option shall confer upon an Optionee any right to continue in the
employ of the Corporation or any Subsidiary or affect in any way the right of the Corporation or
any Subsidiary to terminate the Optionee&#146;s employment at any time; nor shall anything in the Plan
or any Option be deemed or construed to constitute an agreement, or an expression of intent, on the
part of the Corporation or any Subsidiary to extend the employment of any Optionee beyond the time
which the Optionee would normally be retired pursuant to the provisions of any present or future
retirement plan of the Corporation or any Subsidiary, or beyond the time at which the Optionee
would otherwise be retired pursuant to the provisions of any contract of employment with the
Corporation or any Subsidiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">10.3&nbsp;&nbsp;&nbsp;To the extent required by law or regulatory policy or necessary to allow Shares issued on
exercise of an Option to be free of resale restrictions, the Corporation shall report the grant,
exercise or termination of the Option to the Exchange and the appropriate securities regulatory
authorities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">10.4&nbsp;&nbsp;&nbsp;The Corporation may require the Optionee to pay to the Corporation the amount of any
withholding taxes that the Corporation is required to withhold with respect to the grant or
exercise of any Option. Subject to the Plan and applicable law, the Board may, in its sole
discretion, permit the Optionee to satisfy withholding obligations in whole or in part, by paying
cash or by electing to have the Corporation withhold Shares in such amounts as are equivalent to
the Market Price in order to satisfy the withholding obligation. The Corporation shall have the
right to withhold from any Shares issuable pursuant to an Option or from any cash amounts otherwise
due or to become due from the Corporation to the Optionee an amount equal to such taxes, and such
withheld Shares shall be cancelled if
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><!-- Folio -->- 8 -<!-- /Folio -->

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">required by any applicable law or regulatory authority. The Corporation may also deduct from any
Option any other amounts due from the Optionee to the Corporation. For the purposes of this
Section&nbsp;10.4, all references to the Corporation shall be deemed to include references to a
Subsidiary where the context permits.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE 11<BR>
Shareholder and Regulatory Approval</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">11.1&nbsp;&nbsp;&nbsp;The Plan shall be subject to the approval of the shareholders of the Corporation to be given
by a resolution passed at a meeting of the shareholders of the Corporation in accordance with the
<I>Business Corporations Act, Ontario</I>, and to acceptance by the Exchange, if applicable. Any Options
granted prior to such approval and acceptance shall be conditional upon such approval and
acceptance being given, and no such Options may be exercised unless such approval and acceptance is
given.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">November&nbsp;20, 2006
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>o39156exv23w2.htm
<DESCRIPTION>CONSENT OF PRICEWATERHOUSECOOPERS LLP
<TEXT>
<HTML>
<HEAD>
<TITLE>Consent of PricewaterhouseCoopers LLP</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">EXHIBIT 23.2 &#151; CONSENT OF PRICEWATERHOUSECOOPERS LLP
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CONSENT
OF INDEPENDENT ACCOUNTANTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We hereby consent to the use in this Registration Statement on Form S-8 of our report dated March
13, 2007 to the shareholders of Denison Mines Corp. relating to the consolidated balance sheets as
at December&nbsp;31, 2006 and September&nbsp;30, 2005 and the consolidated statements of operations and
deficit and cash flows, for the fifteen-month period ended December&nbsp;31, 2006 and the years ended
September&nbsp;30, 2005 and 2004, prepared in accordance with Canadian generally accepted accounting
principles which is incorporated by reference in such Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 28pt">/s/&nbsp;&nbsp;PricewaterhouseCoopers LLP<BR>
Chartered Accountants, Licensed Public Accountants
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt">Toronto, Ontario<BR>
Canada<BR>
January&nbsp;23, 2008
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
