<SEC-DOCUMENT>0001047469-13-009173.txt : 20130919
<SEC-HEADER>0001047469-13-009173.hdr.sgml : 20130919
<ACCEPTANCE-DATETIME>20130919130336
ACCESSION NUMBER:		0001047469-13-009173
CONFORMED SUBMISSION TYPE:	F-8
PUBLIC DOCUMENT COUNT:		31
FILED AS OF DATE:		20130919
DATE AS OF CHANGE:		20130919
EFFECTIVENESS DATE:		20130919

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DENISON MINES CORP.
		CENTRAL INDEX KEY:			0001063259
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-191254
		FILM NUMBER:		131105196

	BUSINESS ADDRESS:	
		STREET 1:		595 BAY STREET, SUITE 402
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5G 2C2
		BUSINESS PHONE:		(416) 979-1991

	MAIL ADDRESS:	
		STREET 1:		595 BAY STREET, SUITE 402
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5G 2C2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL URANIUM CORP
		DATE OF NAME CHANGE:	19980603
</SEC-HEADER>
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Use these links to rapidly review the document<BR>
<A HREF="#bg40303_table_of_contents">  TABLE OF CONTENTS</A><BR></font>
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</FONT> <FONT SIZE=1><B>As filed with the United&nbsp;States Securities and Exchange Commission on September&nbsp;19,&nbsp;2013  </B></FONT></P>

<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=1><B> Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=1><B> <div style="width:100%;border-top:solid #000000 3.0pt;padding:0in 0in 0in 0in;font-size:3.0pt;"></div>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=1><B>WASHINGTON,&nbsp;D.C. 20549  </B></FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>FORM F-8  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>REGISTRATION STATEMENT UNDER<BR>
THE SECURITIES ACT OF&nbsp;1933  </B></FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>DENISON MINES CORP.<BR>  </B></FONT><FONT SIZE=1>(Exact Name of Registrant as Specified in its Charter) </FONT></P>
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<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><B>Ontario, Canada</B></FONT><FONT SIZE=1><BR>
(Province or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B> 1090</B></FONT><FONT SIZE=1><BR>
(Primary Standard Industrial<BR>
Classification Code Number)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B> 98-0622284</B></FONT><FONT SIZE=1><BR>
(I.R.S. Employer Identification No.,<BR>
if applicable)</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Atrium on Bay, 595&nbsp;Bay Street, Suite&nbsp;402<BR>
Toronto, Ontario<BR>
M5G&nbsp;2C2<BR>
(416)&nbsp;979-1991<BR>  </B></FONT><FONT SIZE=1>(Address, including zip code, and telephone number of Registrant's principal executive offices) </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>CT Corporation System<BR>
111&nbsp;Eighth Avenue<BR>
New&nbsp;York, New&nbsp;York 10011<BR>
(212)&nbsp;894-8940<BR>  </B></FONT><FONT SIZE=1>(Name, address (including zip code) and telephone number (including area code) of agent for service in the United&nbsp;States) </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Copies
to: </FONT></P>
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<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><B>Ronald F. Hochstein<BR>
David D. Cates<BR>
Sheila Colman<BR>
Denison Mines Corp.<BR>
Atrium on Bay, 595&nbsp;Bay Street<BR>
Suite&nbsp;402<BR>
Toronto, Ontario<BR>
Canada M5G&nbsp;2C2<BR>
Tel: (416)&nbsp;979-1991</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Gordon R. Chambers<BR>
Cassels, Brock&nbsp;&amp; Blackwell&nbsp;LLP<BR>
Suite&nbsp;2200, HSBC Building<BR>
885&nbsp;West Georgia Street<BR>
Vancouver, British Columbia<BR>
Canada V6C&nbsp;3E8<BR>
Tel: (604)&nbsp;691-6100</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Edwin S. Maynard<BR>
Paul, Weiss, Rifkind,<BR>
Wharton&nbsp;&amp; Garrison&nbsp;LLP<BR>
1285&nbsp;Avenue of the Americas<BR>
New&nbsp;York, New&nbsp;York<BR>
10019-6064<BR>
(212)&nbsp;373-3000</B></FONT></TD>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Approximate date of commencement of proposed sale of the securities to the&nbsp;public:<BR>  </B></FONT><FONT SIZE=1>As soon as practicable after this Registration Statement becomes effective. </FONT></P>


<P style="font-family:times;"><FONT SIZE=1>This
registration statement and any amendment thereto shall become effective upon filing with the Commission in accordance with Rule&nbsp;467(a). </FONT></P>

<P style="font-family:times;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to the home jurisdiction's shelf prospectus offering procedures, check
the following box.&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>CALCULATION OF REGISTRATION FEE  </B></FONT></P>
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<TR VALIGN="BOTTOM">
<TH ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Title of each class of<BR>
securities&nbsp;to&nbsp;be&nbsp;registered</B></FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Amount to be<BR>
Registered<SUP>(1)</SUP></B></FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Proposed Maximum Aggregate<BR>
Offering Price<SUP>(2)</SUP></B></FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><B>Amount of<BR>
Registration fee</B></FONT><BR></TH>
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<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
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<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Common Shares</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>22,473,114</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>$5,308,249.17</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>$724.05</FONT></TD>
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<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Represents
the maximum number of Denison Mines Corp. ("Denison") common shares estimated to be issuable upon consummation of the exchange offer for all of
the outstanding common shares of Rockgate Capital Corp. ("Rockgate") based on 117,047,470, which is the estimated number of outstanding Rockgate common shares as of September&nbsp;9, 2013 assuming
full conversion of all outstanding options for Rockgate common&nbsp;shares.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:times;"><FONT SIZE=1>Estimated
solely for the purpose of calculating the registration fee in accordance with General Instruction&nbsp;IV.G to Form&nbsp;F-8. The proposed
maximum offering price is equal to the product of (i)&nbsp;Cdn$0.175, which is the average of the high and low sale prices of Rockgate common shares as reported on the Toronto Stock Exchange on
September&nbsp;9, 2013, and (ii)&nbsp;29,261,868, which is the estimated number of Rockgate common shares to be received from United&nbsp;States residents, assuming full conversion of all
outstanding options for Rockgate common shares. For purposes of this calculation, Cdn$ are converted into U.S.&nbsp;dollars at the noon rate of exchange as reported by the Bank of Canada on
September&nbsp;9, 2013 of 1.0366&nbsp;Cdn$ per U.S.&nbsp;dollar. </FONT></DD></DL>
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 <P style="font-family:times;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
as a result of stock splits, stock dividends or similar transactions, the number of securities purported to be registered on this registration statement changes, the provisions of
Rule&nbsp;416 shall apply to this registration statement. </FONT></P>
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<A NAME="toc_bc40301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PART I<BR>  <BR>    INFORMATION REQUIRED TO BE DELIVERED<BR>  TO OFFEREES OR PURCHASERS    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Jurisdiction Document.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Offer to Purchase and Circular dated September&nbsp;19, 2013, including the Letter of Transmittal and Notice of Guaranteed Delivery. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Informational Legends.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See the outside front cover page and the inside front cover page of the Offer to Purchase and Circular dated September&nbsp;19,&nbsp;2013. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Certain Information by Reference.  </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As required by this Item, the Offer to Purchase and Circular provides that copies of the documents incorporated by reference may be obtained on request without
charge from the Corporate Secretary of the Registrant, Atrium on Bay, 595&nbsp;Bay Street, Suite&nbsp;402, Toronto, Ontario, M5G&nbsp;2C2. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;List of Documents Filed with the Commission.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See the heading "Documents Filed as Part of the Registration Statement" in the Offer to Purchase and Circular dated September&nbsp;19,&nbsp;2013. </FONT></P>

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 </I></B></FONT><FONT COLOR="#FD1B14" SIZE=1><B><I>This document is important and requires your immediate attention. If you are in doubt as to how to deal with it, you should
consult your investment advisor, stockbroker, bank manager, trust company manager, accountant, lawyer or other professional advisor. Inquiries concerning the information in this document should be
directed to Laurel Hill Advisory Group, the Information Agent retained by Denison, toll free 1-877-452-7184 from anywhere in Canada or the United&nbsp;States (416-304-0211&nbsp;collect) or via
email at <U>assistance@laurelhill.com</U></I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><I>This document does not constitute an offer or a solicitation to any person in any jurisdiction in which such offer or solicitation is unlawful. The Offer is not being made to,
nor will deposits be accepted from or on behalf of, Shareholders in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction.
However, Denison may, in Denison's sole discretion, take such action as Denison may deem necessary to extend the Offer to Shareholders in any such jurisdiction.</I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><I>The Offer has not been approved or disapproved by any securities regulatory authority, nor has any securities regulatory authority passed upon the fairness or merits of the
Offer or upon the adequacy of the information contained in this document. Any representation to the contrary is an&nbsp;offence.</I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B><I>Information has been incorporated by reference in the Offer and Circular from documents filed with securities commissions or similar authorities in
Canada.</I></B></FONT><FONT SIZE=1><I> Copies of the documents incorporated herein by reference may be obtained on request without charge from the Corporate Secretary of Denison at
595&nbsp;Bay&nbsp;Street, Suite&nbsp;402, Toronto, Ontario M5G&nbsp;2C2, telephone (416)&nbsp;979-1991, extension&nbsp;366, and are also available electronically on SEDAR at
<U>www.sedar.com.</U></I></FONT></P>

<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>September&nbsp;19, 2013 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>
<IMG SRC="g226073.jpg" ALT="LOGO" WIDTH="235" HEIGHT="93">
  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>DENISON MINES CORP.  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>OFFER TO PURCHASE<BR>  </B></FONT><FONT SIZE=3><B>all of the outstanding common shares of<BR>  </B></FONT><FONT SIZE=4><B>ROCKGATE CAPITAL CORP.<BR>  </B></FONT><FONT SIZE=2><B>on the basis of 0.192 of a common share
of Denison Mines Corp.<BR>
for each common share of Rockgate Capital Corp.  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Denison Mines Corp. ("</FONT><FONT SIZE=2><B>Denison</B></FONT><FONT SIZE=2>") hereby offers, upon and subject to the terms and conditions set out herein
(the&nbsp;"</FONT><FONT SIZE=2><B>Offer</B></FONT><FONT SIZE=2>"), to purchase all of the issued and outstanding common shares ("</FONT><FONT SIZE=2><B>Shares</B></FONT><FONT SIZE=2>") of Rockgate
Capital Corp. ("</FONT><FONT SIZE=2><B>Rockgate</B></FONT><FONT SIZE=2>") together with any associated rights issued under Rockgate's shareholder rights plan ("</FONT><FONT SIZE=2><B>SRP
Rights</B></FONT><FONT SIZE=2>"), including all Shares that may become issued and outstanding after the date of the Offer but before the Expiry Time (as&nbsp;defined below) upon the exercise,
conversion or exchange of the Options (as&nbsp;such term is defined in the Circular) or any other outstanding rights. </FONT></P>


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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>The Offer is open for acceptance until 4:00&nbsp;p.m. (Toronto time) on October&nbsp;25,&nbsp;2013<BR>
(the&nbsp;"Expiry Time"), unless the Offer is extended or withdrawn.<BR>  </B></FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>The
Shares are listed on the Toronto Stock Exchange (the&nbsp;"</FONT><FONT SIZE=2><B>TSX</B></FONT><FONT SIZE=2>") under the trading symbol "RGT". The closing price of the Shares on the TSX was
$0.155 on September&nbsp;16, 2013, the last trading day prior to the announcement of Denison's intention to make the Offer. Based upon the closing price of the Denison common shares on the TSX on
September&nbsp;16, 2013, the last trading day prior to the announcement of Denison's indication to make the offer, </FONT><FONT SIZE=2><B>the Offer represents a premium of 47% over the closing
price of the Shares on the TSX on September&nbsp;16, 2013, and a premium of 38% based on the volume weighted average price of each company on the TSX for the 20-day period ended
September&nbsp;16,&nbsp;2013.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Lock-Up Agreements  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
has entered into lock-up agreements (the&nbsp;"</FONT><FONT SIZE=2><B>Lock-Up Agreements</B></FONT><FONT SIZE=2>"), with each of JP Morgan Asset Management (UK) Limited, New&nbsp;City
Energy Limited, Geiger Counter Limited, City Natural Resources High Yield Trust&nbsp;Plc, Sprott Asset Management USA&nbsp;Inc., Resource Capital Investment Corp. General Partner and Sprott Asset
Management&nbsp;LP (the&nbsp;"</FONT><FONT SIZE=2><B>Locked-Up Shareholders</B></FONT><FONT SIZE=2>"), pursuant to which each of the Locked-Up Shareholders has agreed, subject to certain
exceptions, to support the Offer and deposit or cause to be deposited under the Offer and not withdraw all of the Shares beneficially owned or over which control and direction are exercised by it.
Based upon publicly available information, the aggregate number of Shares beneficially owned or over which control and direction is exercised by the Locked-Up Shareholders and subject to the Lock-Up
Agreements represents approximately 31.5% of the Shares on a fully-diluted basis. See Section&nbsp;7 of the Circular, "Lock-Up Agreements". </FONT></P>
 <p style="font-family:times;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2><B>
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&nbsp;&nbsp;&nbsp;
</b></font></p><p align=center style="font-family:times;"><font></FONT><FONT SIZE=2><B> TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013</B></FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Conditions to the Offer  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>The
Offer is conditional on, among other things, there having been validly deposited under the Offer and not withdrawn at the Expiry Time a number of Shares which constitutes at least 90% of the
Shares outstanding at the Expiry Time on a fully-diluted basis. This and the other conditions of the Offer are described in Section&nbsp;4 of the Offer, "Conditions of the Offer". Subject to
applicable Laws (as&nbsp;such term is defined in the Circular), Denison reserves the right to withdraw the Offer and to not take up and pay for any Shares deposited under the Offer if any condition
of the Offer is not satisfied or waived at or prior to the Expiry&nbsp;Time. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Tender Instructions  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Shareholders
(as&nbsp;such term is defined in the Offer) who wish to accept the Offer must properly complete and duly execute the accompanying Letter of Transmittal (printed on </FONT> <FONT SIZE=2><B><I>YELLOW</I></B></FONT><FONT SIZE=2> paper), or a manually
executed facsimile thereof, and deposit it, at or prior to the Expiry Time, together with certificate(s) or DRS Advice(s)
(as&nbsp;such term is defined in the Circular) representing their Shares and all other required documents, with Computershare Investor Services&nbsp;Inc.
(the&nbsp;"</FONT><FONT SIZE=2><B>Depositary</B></FONT><FONT SIZE=2>") at its office in Toronto, Ontario specified in the Letter of Transmittal, in accordance with the instructions in the Letter of
Transmittal. Shareholders may also accept the Offer by following the procedure for guaranteed delivery set forth in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Procedure for Guaranteed Delivery", using the accompanying Notice of Guaranteed Delivery (printed on </FONT> <FONT SIZE=2><B><I>PINK</I></B></FONT><FONT SIZE=2> paper). Alternatively, Shareholders may accept the Offer by
following the procedures for book-entry transfer of Shares set forth in
Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Persons whose Shares are registered in the name of an investment advisor, stockbroker, bank, trust company or other nominee should contact such nominee for assistance if they
wish to accept the Offer in order to take the necessary steps to be able to deposit such Shares under the Offer. Intermediaries are likely to have established tendering cut-off times that are up to
48&nbsp;hours prior to the Expiry Time. Shareholders must instruct their brokers or other intermediaries promptly if they wish to&nbsp;tender.</B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Shareholders will not be required to pay any fee or commission if they accept the Offer by depositing their Shares directly with the&nbsp;Depositary.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Shareholder Questions  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Questions
and requests for assistance may be directed to the Depositary or the information agent for the Offer, Laurel Hill Advisory Group. (the&nbsp;"</FONT><FONT SIZE=2><B>Information
Agent</B></FONT><FONT SIZE=2>"). The Information Agent can be contacted at 1-877-452-7184&nbsp;toll free in North America or at 1-416-304-0211&nbsp;outside of North America or by e-mail at
<U>assistance@laurelhill.com</U>. Additional copies of this document, the Letter of Transmittal and the Notice of Guaranteed Delivery may be obtained without charge on request
from the Depositary or the Information Agent and are accessible on Denison's website at <U>www.denisonmines.com</U> or on the Canadian Securities Administrators' website at
www.sedar.com. The foregoing website addresses are provided for informational purposes only and no information contained on, or accessible from, the foregoing websites is incorporated by reference
herein, except where specifically stated. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>No
broker, dealer, salesperson or other person has been authorized to give any information or make any representation other than those contained in this document, and, if given or made, such
information or representation must not be relied upon as having been authorized by Denison, the Depositary or the Information Agent. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>These securityholder materials are being sent to both registered and non-registered holders of Shares and to registered holders of Options. If you are a non-registered holder
of Shares, and Denison or its agent has sent these materials directly to you, your name and address and information about your holdings of Shares have been obtained in accordance with applicable
securities regulatory requirements from the intermediary holding such Shares on your&nbsp;behalf.</B></FONT></P>
 <p style="font-family:times;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2><B>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</b></font></p><p align=center style="font-family:times;"><font></FONT><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013</B></FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Shareholders should be aware that Denison reserves the right to, and may, acquire or cause an affiliate to acquire beneficial ownership of Shares by making purchases through
the facilities of the TSX at any time, and from time to time, prior to the Expiry Time, as permitted by applicable laws or regulations. See Section&nbsp;12 of the Offer, "Market
Purchases".</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>This document does not generally address tax consequences of the Offer to Shareholders in any jurisdiction outside of Canada or the United&nbsp;States. Shareholders in a
jurisdiction outside of Canada or the United&nbsp;States should be aware that the disposition of Shares may have tax consequences which may not be described herein. Accordingly, Shareholders outside
of Canada and the United&nbsp;States should consult their own tax advisors with respect to tax considerations applicable to&nbsp;them.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>The Offer is made by a Canadian issuer that is permitted, under a multijurisdictional disclosure system adopted by the United&nbsp;States, to prepare the Offer and Circular
in accordance with the disclosure requirements of Canada. Shareholders should be aware that such requirements are different from those of the United&nbsp;States. Financial statements incorporated by
reference herein have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board. They may not be comparable to
financial statements of United&nbsp;States companies.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Shareholders should be aware that the disposition of Shares and the acquisition of Denison Shares (as&nbsp;such term is defined in the Offer) by them as described herein may
have tax consequences in the United&nbsp;States, Canada and other jurisdictions. Such consequences may not be fully described herein and such Shareholders are urged to consult their tax advisors.
See Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations", and Section&nbsp;20 of the Circular, "Certain United&nbsp;States Federal Income Tax
Considerations".</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>The enforcement by Shareholders of civil liabilities under United&nbsp;States federal securities laws may be affected adversely by the fact that Denison is existing under the
laws of Ontario, that some or all of its officers and directors may reside outside the United&nbsp;States, that some or all of the experts named herein may reside outside the United&nbsp;States
and that a substantial portion of the assets of Denison and the above mentioned persons are located outside the United&nbsp;States.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>THE SECURITIES TO BE DELIVERED IN CONNECTION WITH THE OFFER HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION (THE "SEC") OR ANY STATE SECURITIES
COMMISSION NOR HAS THE SEC OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFER AND CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENCE.</B></FONT></P>
 <p style="font-family:times;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2><B>
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&nbsp;&nbsp;&nbsp;
</b></font></p><p align=center style="font-family:times;"><font></FONT><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013</B></FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bc40303_notice_to_holders_of_options"> </A>
<A NAME="toc_bc40303_1"> </A>
<BR></FONT><FONT SIZE=2><B>  NOTICE TO HOLDERS OF OPTIONS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer is made only for Shares and SRP Rights and is not made for any Options. Any holder of Options who wishes to accept the Offer
must, to the extent permitted by the terms of such Options and applicable Laws, exercise, exchange or convert such Options in order to obtain certificates or DRS Advices representing Shares and
deposit those Shares in accordance with the terms of the Offer. Any such exercise, exchange or conversion must be completed sufficiently in advance of the Expiry Time to ensure that the holder of such
Options will have certificates or DRS Advices representing the Shares received on such exercise, exchange or conversion available for deposit at or prior to the Expiry Time, or in sufficient time to
comply with the procedures referred to under Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Procedure for Guaranteed Delivery". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
additional important information on the treatment of Options under the Offer, see Section&nbsp;1 of the Offer, "The Offer&nbsp;&#151;&nbsp;Options". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The tax consequences to holders of Options of exercising, exchanging or converting such Options are not described in the Circular. Holders of Options should
consult their tax advisors for advice with respect to
potential income tax consequences to them in connection with the decision to exercise, exchange or convert or to not exercise, exchange or convert their&nbsp;Options.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bc40303_note_united_states_and_other_n__not04627"> </A>
<A NAME="toc_bc40303_2"> </A>
<BR></FONT><FONT SIZE=2><B>  NOTE UNITED STATES AND OTHER NON-CANADIAN INVESTORS<BR>  CONCERNING ESTIMATES OF MINERAL RESERVES AND MINERAL RESOURCES    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The mineral reserve and mineral resource estimates contained in or incorporated by reference in the Offer and Circular have been
prepared in accordance with the Canadian Securities Administrators' National Instrument&nbsp;43-101&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>Standards of Disclosure for
Mineral Projects</I></FONT><FONT SIZE=2> ("</FONT><FONT SIZE=2><B>NI&nbsp;43-101</B></FONT><FONT SIZE=2>"). These standards differ significantly from those of Industry Guide No.&nbsp;7 as
interpreted by staff at the SEC. Accordingly, mineral reserve and mineral resource information contained in or incorporated by reference in the Offer and Circular is not comparable to similar
information disclosed by U.S.&nbsp;companies. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
particular, the SEC's Industry Guide No.&nbsp;7 applies different standards in order to classify mineralization as a reserve. As a result, the definitions of proven and probable
reserves used in NI&nbsp;43-101 differ from the definitions in SEC Industry Guide No.&nbsp;7. Under SEC standards, mineralization may not be classified as a "reserve" unless the determination has
been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Among other things, all necessary permits would be required to
be in hand or their issuance imminent in order to classify mineralized material as reserves under SEC standards. Accordingly, mineral reserve estimates contained or incorporated by reference in the
Offer and Circular may not qualify as "reserves" under SEC&nbsp;standards. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the Offer and Circular and the documents incorporated by reference therein use the terms "mineral resources," "measured mineral resources," "indicated mineral resources" and
"inferred mineral resources" to comply with the reporting standards in Canada. The SEC's Industry Guide No.&nbsp;7 does not recognize mineral resources and U.S.&nbsp;companies are generally not
permitted to disclose resources in documents they file with the SEC. Investors are specifically cautioned not to assume that any part or all of the mineral deposits in these categories will ever be
converted into SEC defined mineral reserves. Further, "inferred mineral resources" have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically.
Therefore, investors are also cautioned not to assume that all or any part of an inferred mineral resource exists. In accordance with Canadian rules, estimates of "inferred mineral resources" cannot
form the basis of feasibility or pre-feasibility studies. It cannot be assumed that all or any part of "mineral resources," "measured mineral resources," "indicated mineral resources" or "inferred
mineral resources" will ever be upgraded to a higher category. Investors are cautioned not to assume that any part of the reported "mineral resources," "measured mineral resources," "indicated mineral
resources" or "inferred mineral resources" in the Offer and Circular or the documents incorporated by reference therein is economically or legally mineable. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>iv</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the above reasons, information contained in the Offer and Circular and the documents incorporated by reference therein that describes mineral reserve and resource estimates is not
comparable to similar information made public by U.S.&nbsp;companies subject to the reporting and disclosure requirements of the&nbsp;SEC. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
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<BR></FONT><FONT SIZE=2><B>  CURRENCY    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All dollar references in the Offer and Circular are in Canadian dollars, except where otherwise indicated. Canadian dollars are
referred to as "Canadian dollars", "C$" or "$" and United&nbsp;States dollars are referred to as "U.S.&nbsp;dollars" or "US$". On September&nbsp;18, 2013, the Bank of Canada noon rate of
exchange for U.S.&nbsp;dollars was C$1.00 =&nbsp;US$0.9697. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bc40303_forward-looking_statements"> </A>
<A NAME="toc_bc40303_4"> </A>
<BR></FONT><FONT SIZE=2><B>  FORWARD-LOOKING STATEMENTS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information contained in the Offer and Circular, including the summary thereof, has, unless otherwise specified, been prepared as
of September&nbsp;18, 2013 and the information contained in the documents incorporated by reference therein has, unless otherwise specified, been prepared as of the respective dates of such
documents. Certain statements contained in the Offer and Circular, including the summary thereof, and in the documents incorporated by reference therein, that are referred to herein as
"forward-looking statements", constitute "forward-looking statements" within the meaning of the United&nbsp;States Private Securities Litigation Reform Act of 1995 and the rules and releases made by
the SEC, all as amended from time to time, and "forward-looking information" under the provisions of Canadian provincial securities laws. When used in such documents, the words "anticipate",
"believe", "could", "expect", "estimate", "forecast", "intend", "may", "outlook", "planned", "project", "should", "will", "would" and similar expressions are intended to identify such forward-looking
statements. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward-looking
statements in the Offer and Circular, including the summary thereof, and in the documents incorporated by reference therein, include, but are not limited to statements
regarding: Denison's outlook for 2013 and future periods; expectations as to the anticipated timing, mechanics, completion and settlement of the Offer; the market for and listing of Shares and
Rockgate's status as a reporting issuer after completion of the Offer; the value of the Denison Shares received as consideration under the Offer; the ability of Denison to complete the transactions
contemplated by the Offer; future earnings, and the sensitivity of earnings to uranium and other metal prices; Denison's expectations regarding toll milling of Cigar Lake ores; future royalty and tax
payments and rates; anticipated levels or trends for prices of uranium and byproduct metals mined by Denison or for exchange rates between currencies in which capital is raised, revenue is generated
or expenses are incurred by Denison; estimates of future mineral production and sales; estimates of future costs, including mining costs and other expenses; estimates of future capital expenditures
and exploration expenditure and development expenditures and other cash needs, and expectations as to the funding thereof; the projected exploration, development and exploitation of certain ore
deposits, including estimates of exploration, development and production and other capital costs and estimates of the timing of such exploration, development and production or decisions with respect
thereto; Denison's expectations regarding additions to its mineral reserves and resources through acquisitions; estimates of mineral reserves, mineral resources and ore grades and statements regarding
anticipated future exploration results; estimates
of cash flow; estimates of mine life; anticipated timing of events with respect to Denison's mine sites, mine construction projects and exploration projects; estimates of future costs and other
liabilities for environmental remediation and reclamation obligations; anticipated legislation and regulation regarding climate change and estimates of the impact on Denison; and other anticipated
trends with respect to Denison's capital resources and results of&nbsp;operations. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward-looking
statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Denison as of the date of such statements, are inherently
subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions of Denison upon which the forward-looking statements in the Offer and Circular,
including the summary thereof, and in the documents incorporated by reference therein, are based and which may prove to be incorrect, include, but are not limited to, the factors and assumptions set
out in the Offer and Circular, including the summary thereof, as well as: global financial conditions; the ability of Denison to meet its obligations to its creditors and the </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>v</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>uncertainty
of funding; volatility in the market price of the Company's shares and the risk of dilution from future equity financings; the impact of volatility in uranium prices on the valuation of
Denison's mineral reserves and resources and the market price of its shares; public acceptance of nuclear energy and competition from other energy sources; failure to realize benefits from
transactions; competition for properties; the imprecision of mineral reserves and resources estimation; Denison's ability to expand and replace its mineral reserves and resources; uncertainty as to
reclamation and decommissioning liabilities; reliance on other operators; technical innovation rendering Denison's products and services obsolete; property title risk; liabilities inherent in mining
operations and the adequacy of insurance coverage; delays in obtaining permits and licences for development properties; the speculative nature of exploration and development projects; difficulty
complying with changing government regulations and policy, including without limitation, compliance with environment, health and safety regulations; uncertainty surrounding Denison's operations in
foreign jurisdictions; potential claims of Canada's First Nations people; dependence on key personnel; the potential influence of Denison's largest Shareholder, Korea Electric Power Corporation;
potential conflicts of interest for the Company's directors who are engaged in similar businesses; and limitations of disclosure and internal controls. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
forward-looking statements in the Offer and Circular, including the summary thereof, reflect Denison's views as at the date of the Offer and involve known and unknown risks,
uncertainties and other factors which could cause the actual results, performance or achievements of Denison or industry results to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. These risks include risks relating to Offer, including, without limitation, that Denison may be unable to complete the Offer or
the completion of the Offer may be more costly than expected because, among other reasons, conditions to the completion of the Offer may not be satisfied; problems may arise with the ability to
successfully integrate the businesses of Denison and Rockgate; the parties may be unable to obtain regulatory approvals required for the Offer; Denison may not be able to achieve the benefits from the
acquisition or it may take longer than expected to achieve those benefits; and the acquisition may involve unexpected costs or unexpected liabilities. For a further discussion of risks and material
factors or assumptions underlying the forward-looking statements in the Offer and Circular, see Section&nbsp;17 of the Circular, "Risk Factors", and Denison's Annual Information Form filed on SEDAR
dated March&nbsp;13, 2013 for the financial year ended December&nbsp;31, 2012 and incorporated by reference in the Offer
and Circular. Given these uncertainties, investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by
law, Denison expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Denison's expectations or any change in
events, conditions or circumstances on which any such statement is based. The Offer and Circular and documents incorporated by reference therein contain information regarding anticipated total cash
costs per pound of uranium at certain of Denison's mines and mine development projects. Denison believes that this generally accepted industry measure is a realistic indicator of operating performance
and is useful in allowing year over year comparisons. Investors are cautioned that this information may not be suitable for other&nbsp;purposes. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>vi</FONT></P>

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NAME="bg40303_table_of_contents"> </A>
<BR></FONT><FONT SIZE=2><B>  TABLE OF CONTENTS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>
<A NAME="BG40303_TOC"></A> </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Page </B></FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#bc40303_notice_to_holders_of_options"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>NOTICE TO HOLDERS OF OPTIONS</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#bc40303_notice_to_holders_of_options"><FONT SIZE=2>iv</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#bc40303_note_united_states_and_other_n__not04627"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>NOTE TO UNITED STATES AND OTHER NON-CANADIAN INVESTORS CONCERNING ESTIMATES OF MINERAL
RESERVES AND MINERAL RESOURCES</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#bc40303_note_united_states_and_other_n__not04627"><FONT SIZE=2>iv</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#bc40303_currency"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>CURRENCY</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#bc40303_currency"><FONT SIZE=2>v</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#bc40303_forward-looking_statements"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>FORWARD-LOOKING STATEMENTS</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#bc40303_forward-looking_statements"><FONT SIZE=2>v</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#ca40303_summary"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>SUMMARY</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#ca40303_summary"><FONT SIZE=2>1</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#ca40303_reasons_to_accept_the_offer"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>REASONS TO ACCEPT THE OFFER</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#ca40303_reasons_to_accept_the_offer"><FONT SIZE=2>3</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#dc40303_selected_historical_financial_information_of_denison"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>SELECTED HISTORICAL FINANCIAL INFORMATION OF DENISON</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#dc40303_selected_historical_financial_information_of_denison"><FONT SIZE=2>10</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#de40303_glossary"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>GLOSSARY</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#de40303_glossary"><FONT SIZE=2>11</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#dg40303_offer"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>OFFER</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#dg40303_offer"><FONT SIZE=2>16</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;1. The Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>16</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;2. Time for Acceptance</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>17</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;3. Manner of Acceptance</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>17</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;4. Conditions of the Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>23</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;5. Extension, Variation or Change in the Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>26</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;6. Take-Up of and Payment for Deposited Shares</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>27</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;7. Return of Deposited Shares</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>28</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;8. Withdrawal of Deposited Shares</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>29</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;9. Changes in Capitalization; Adjustments; Liens</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>30</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>10. Notices and Delivery</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>30</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>11. Mail Service Interruption</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>31</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>12. Market Purchases</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>31</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>13. Other Terms of the Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>32</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#dk40303_circular"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>CIRCULAR</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#dk40303_circular"><FONT SIZE=2>33</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>1. Denison Mines Corp.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>33</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2. Rockgate Capital Corp.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>34</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3. Certain Information Concerning Securities of Rockgate</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>34</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4. Background to the Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>35</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>5. Benefits of the Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>37</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>6. Purpose of the Offer and Plans for Rockgate</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>38</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>7. Lock-Up Agreements</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>38</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>8. Source of Funds</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>39</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>9. Acquisition of Shares Not Deposited</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>40</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>10. Acceptance of the Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>44</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>11. Ownership of and Trading in Securities of Rockgate</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>44</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>12. Commitments to Acquire Securities of Rockgate</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>44</FONT></TD>
</TR>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>vii</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=9,EFW="2216722",CP="DENISON MINES CORPORATION",DN="1",CHK=868682,FOLIO='vii',FILE='DISK104:[13ZCO3.13ZCO40303]BG40303A.;20',USER='RMCIVOR',CD='19-SEP-2013;11:45' -->
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<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Page </B></FONT></TH>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>13. Other Material Facts</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>44</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>14. Agreements, Arrangements or Understandings</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>44</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#dg40303_offer"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>15. Effect of the Offer on the Market for and Listing of Shares and Status as<BR>
&nbsp;&nbsp;a&nbsp;Reporting&nbsp;Issuer</FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#dg40303_offer"><FONT SIZE=2>45</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>16. Certain Information Concerning Securities of Denison</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>45</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>17. Risk Factors</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>48</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>18. Regulatory Considerations</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>50</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>19. Certain Canadian Federal Income Tax Considerations</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>51</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>20. Certain United&nbsp;States Federal Income Tax Considerations</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>58</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>21. Shareholder Rights Plan</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>66</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>22. Other Matters Related to the Offer</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>67</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>23. Stock Exchange Listing Application</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>69</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>24. Documents Incorporated by Reference</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>69</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>25. Registration Statement Filed with the SEC</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>70</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>26. Statutory Rights</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>70</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>27. Directors' Approval</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>70</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><A HREF="#dk40303_circular"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>APPENDIX A&nbsp;&#151;&nbsp;DISSIDENT CIRCULAR INFORMATION</B></FONT></A></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><A HREF="#dk40303_circular"><FONT SIZE=2>A-1</FONT></A></TD>
</TR>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>viii</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> </i></font></p>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ca40303_summary"> </A>
<A NAME="toc_ca40303_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SUMMARY    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>The following is a summary only and is qualified in its entirety by the detailed provisions contained in the
Offer and Circular. Shareholders are urged to read the Offer and Circular in their entirety. Terms defined in the Glossary and not otherwise defined in this Summary have the respective meanings given
to them in the Glossary, unless the context otherwise requires.</I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Notice Regarding Rockgate Information  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise indicated herein, the information concerning Rockgate contained in the Offer and Circular has been taken from or is
based upon publicly available information filed with Canadian securities regulators and other public sources available as at September&nbsp;18, 2013. Rockgate has not reviewed the Offer and Circular
and has not confirmed the accuracy and completeness of the information in respect of Rockgate contained herein. Neither Denison, nor any person acting jointly or in concert with Denison, nor any of
the directors or officers of Denison or such persons, assumes any responsibility for the accuracy or completeness of such information or any failure by Rockgate to disclose events or facts which may
have occurred or which may affect the significance or accuracy of any such information but which are unknown to Denison or such persons. Except as otherwise indicated herein, Denison has no means of
verifying the accuracy or completeness of any of the information contained herein that is derived from publicly available information regarding Rockgate or whether there has been any failure by
Rockgate to disclose events or facts that may have occurred or may affect the significance or accuracy of any such information. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> The Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison is offering, upon and subject to the terms and conditions of the Offer, to purchase all of the issued and outstanding Shares
and SRP Rights, including all Shares that may become issued and outstanding after the date of the Offer but before the Expiry Time upon the exercise, exchange or conversion of the Options or any other
outstanding rights, for a Purchase Price of 0.192 of a Denison Share for each&nbsp;Share. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
fractional Denison Shares will be issued under the Offer. Any Shareholder who would otherwise be entitled to receive a fractional Denison Share will receive the applicable number of
Denison Shares, rounded down to the nearest whole&nbsp;number. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The Offer represents a premium of 47% over the closing price of the Shares on the TSX on September&nbsp;16, 2013, the last trading day prior to the announcement
of Denison's intention to make the Offer, and a premium of 38% based on the volume weighted average price of each company on the TSX for the 20-day period ended
September&nbsp;16,&nbsp;2013.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
who deposit their Shares pursuant to the Offer will be deemed to have deposited the SRP Rights associated with such Shares. No additional payment will be made for the SRP
Rights and no amount of the consideration paid by Denison for the Shares will be allocated to the SRP&nbsp;Rights. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Offer is being made only for Shares and SRP Rights and is not made for any Options. Any holder of Options who wishes to accept the Offer must, to the extent permitted by the terms of
such Options and applicable Laws, exercise, exchange or convert such Options in order to obtain certificates or DRS Advices representing Shares and deposit those Shares in accordance with the terms of
the Offer. Any such exercise, exchange or conversion must be completed sufficiently in advance of the Expiry Time to ensure that the holder of such Options will have certificates or DRS Advices
representing the Shares received on such exercise, exchange or conversion available for deposit at or prior to the Expiry Time, or in sufficient time to comply with the procedures referred to in
Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Procedure for Guaranteed Delivery". For additional information on the treatment of Options under the Offer,
see Section&nbsp;1 of the Offer, "The Offer&nbsp;&#151;&nbsp;Options". </FONT></P>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>1</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligation of Denison to take up and pay for Shares under the Offer is subject to certain conditions. See Section&nbsp;4 of the Offer, "Conditions of the&nbsp;Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Time for Acceptance  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer is open for acceptance from the date of the Offer until 4:00&nbsp;p.m. (Toronto time) on October&nbsp;25, 2013, or such
later time or times and date or dates to which the Offer may be
extended, unless the Offer is withdrawn in accordance with its terms by Denison. See Section&nbsp;5 of the Offer, "Extension, Variation or Change in the&nbsp;Offer". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Denison Mines Corp.  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison was formed by articles of amalgamation as International Uranium Corporation
("</FONT><FONT SIZE=2><B>IUC</B></FONT><FONT SIZE=2>"), effective May&nbsp;9, 1997 pursuant to the Business Corporations Act (Ontario)
(the&nbsp;"</FONT><FONT SIZE=2><B>OBCA</B></FONT><FONT SIZE=2>"). On December&nbsp;1, 2006, IUC combined its business and operations with Denison Mines&nbsp;Inc.
("</FONT><FONT SIZE=2><B>DMI</B></FONT><FONT SIZE=2>"), by way of arrangement under the OBCA (the&nbsp;"</FONT><FONT SIZE=2><B>IUC Arrangement</B></FONT><FONT SIZE=2>"). Pursuant to the IUC
Arrangement, all of the issued and outstanding shares of DMI were acquired in exchange for IUC's shares. Effective December&nbsp;1, 2006, IUC's articles were amended to change its name to "Denison
Mines Corp." Prior to July&nbsp;2012, Denison was engaged in the exploration, development, mining, and milling of uranium and vanadium, with projects in the United&nbsp;States, Canada, Zambia and
Mongolia. At the time, Denison's principal assets included 100% ownership of the White Mesa Mill in Utah and 22.5% ownership of the McClean Lake uranium mill in Saskatchewan. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June&nbsp;29, 2012, Denison sold its shares in certain subsidiaries, which owned all of the Company's mining assets and operations located in the United&nbsp;States
("U.S.&nbsp;Mining Division"). The sale was carried out by way of a plan of arrangement between Denison and Energy Fuels&nbsp;Inc. ("</FONT><FONT SIZE=2><B>EFR</B></FONT><FONT SIZE=2>"). After
completing the various steps in the plan of arrangement, Denison shareholders retained their interest in Denison and received 1.106&nbsp;common shares of EFR for each Share held in Denison. By
completing the transaction with EFR, Denison transformed its business so as to focus on its uranium exploration and development projects in Saskatchewan, Zambia and&nbsp;Mongolia. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
April&nbsp;26, 2013 Denison acquired a portfolio of uranium exploration projects held by Fission Energy Corp. ("</FONT><FONT SIZE=2><B>Fission</B></FONT><FONT SIZE=2>"), including
Fission's 60% interest in the Waterbury Lake uranium project, as well as Fission's exploration interests in all other properties in the eastern part of the Athabasca Basin, Quebec and Nunavut, plus
its interest in two joint ventures in Namibia. The transaction was completed pursuant to a plan of arrangement (the&nbsp;"</FONT><FONT SIZE=2><B>Arrangement</B></FONT><FONT SIZE=2>") under
applicable corporate law. Under the Arrangement, Denison acquired all of the outstanding common shares of Fission (the&nbsp;"</FONT><FONT SIZE=2><B>Fission Shares</B></FONT><FONT SIZE=2>") with
Fission spinning out certain assets into a newly-incorporated exploration company, Fission Uranium Corp. ("</FONT><FONT SIZE=2><B>Fission Uranium</B></FONT><FONT SIZE=2>"). Under the Arrangement,
each Fission Share was exchanged for 0.355 of a common share of Denison, a nominal cash payment of $0.0001 and one (1)&nbsp;common share of Fission Uranium. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
also continues to be engaged in mine decommissioning and environmental services through its Denison Environmental Services ("</FONT><FONT SIZE=2><B>DES</B></FONT><FONT SIZE=2>")
division. Denison's wholly owned subsidiary, DMI, is also the manager of Uranium Participation Corporation, a publicly traded company listed on the TSX under the symbol "U", which invests in uranium
oxide in concentrates and uranium hexafluoride. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Rockgate Capital Corp.  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockgate is a Vancouver-based mineral exploration company. Rockgate was incorporated pursuant to the provisions of the BCBCA on
November&nbsp;23, 2004 under the name "0709272&nbsp;B.C.&nbsp;Ltd." and changed its name to "Rockgate Capital Corp." on April&nbsp;7, 2005. Rockgate's principal project is the 100% owned Falea
Uranium/ Silver/Copper deposit located in southwest Mali. In December&nbsp;2012, independent consultants estimated </FONT></P>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>2</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>measured
and indicated resources, compliant with Canadian National Instrument&nbsp;43-101, at Falea of 29&nbsp;million pounds of uranium oxide, 27&nbsp;million ounces of silver, and
74&nbsp;million pounds of&nbsp;copper. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Rockgate Options  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer is being made only for Shares and SRP Rights and is not made for any Options. Any holder of Options who wishes to accept the
Offer must, to the extent permitted by the terms of the security and applicable Laws, exercise, exchange or convert such Options in order to obtain certificates or DRS Advices representing Shares and
deposit those Shares in accordance with the terms of the&nbsp;Offer. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ca40303_reasons_to_accept_the_offer"> </A>
<A NAME="toc_ca40303_2"> </A>
<BR></FONT><FONT SIZE=2><B>  REASONS TO ACCEPT THE OFFER    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Lock-Up Agreements  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison has also entered into Lock-Up Agreements with each of JP Morgan Asset Management (UK) Limited, New&nbsp;City Energy Limited,
Geiger Counter Limited, City Natural Resources High Yield Trust&nbsp;Plc, Sprott Asset Management USA&nbsp;Inc., Resource Capital Investment Corp. General Partner and Sprott Asset
Management&nbsp;LP (the&nbsp;"</FONT><FONT SIZE=2><B>Locked-Up Shareholders</B></FONT><FONT SIZE=2>"), pursuant to which the Locked-Up Shareholders have each agreed, subject to certain
exceptions, to deposit or cause to be deposited under the Offer and not withdraw all of the Shares beneficially owned or over which control and direction are exercised by it. The aggregate number of
Shares beneficially owned or over which control and direction is exercised by the Locked-Up Shareholders and subject to the Lock-Up Agreements represents approximately 31.5% of the Shares on a
fully-diluted basis. See Section&nbsp;7 of the Circular, "Lock-Up Agreements". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Benefits of the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison believes that Shareholders will enjoy the following significant benefits from
the&nbsp;Offer:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Significant Premium</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;The Offer
represents a premium of approximately 47% over the closing price of $0.155 per Share on the TSX, and a premium of 38% based on the trailing 20&nbsp;day volume weighted average price of both
companies on the TSX as of September&nbsp;16,&nbsp;2013; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Premium to Implied Mega Uranium
Offer</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;The Offer represents a 38% premium over the Mega Uranium Arrangement exchange ratio based on the closing prices on the TSX as of
September&nbsp;16,&nbsp;2013; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Superior Asset Value
Recognition</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Based on its closing share prices during the trailing three months as of September&nbsp;16, 2013,
Rockgate has not attained a market capitalization in excess of its June&nbsp;30, 2013 net cash value per&nbsp;share; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Major Shareholder Rejection of the Mega Uranium
Arrangement</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Denison has been advised by holders of 31.5% of the Shares outstanding that they will vote against
the Mega Uranium Arrangement. Further, Sprott U.S.&nbsp;Holdings&nbsp;Inc., incorporating all United States Sprott affiliates, has agreed to recommend to their clients (who&nbsp;hold
approximately 11.2% of the Shares) to vote against the Mega Uranium Arrangement; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Premier Uranium Exploration
Company</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;The opportunity for Rockgate shareholders to participate in the assets of Denison, which include a best-in-class pipeline of
advanced exploration, development and capital assets in the Athabasca Basin, including the Wheeler River Project, as well as the Mutanga Project in&nbsp;Zambia; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Superior Capital Markets
Presence</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Rockgate shareholders to benefit from larger scale (Denison's market capitalization is $549&nbsp;million as of
September&nbsp;16, 2013), superior trading liquidity (Denison's three month average daily trading value in Canada and the United&nbsp;States is $3.5&nbsp;million per day), and increased research
analyst coverage (11&nbsp;research analysts actively cover&nbsp;Denison); </FONT></DD></DL>
</UL>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>3</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Superior African
Synergies</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Denison's African and global exploration team is more complementary to Rockgate's Falea development than what is offered by
the Mega Uranium Arrangement; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Business Activity
Alignment</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Denison's active business is the exploration and development of uranium projects, which better complements Rockgate's asset
base as compared to Mega Uranium's primary business activity of holding small-cap uranium equity investments. Denison offers Rockgate shareholders the added potential benefit from any future increases
in value associated with the continued exploration and development of Denison's current portfolio of&nbsp;assets. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Reduced Exposure to Third-Party Equity
Risk</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Mega Uranium's underlying asset valuation is heavily influenced by the potential success and liquidity of externally operated
portfolio holdings, in particular that of Toro Energy&nbsp;Ltd. of Australia as a result of a transaction announced by Mega Uranium on August&nbsp;12,&nbsp;2013. </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Tax-deferral Opportunity</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;For
Canadian federal income tax purposes, Resident Shareholders who hold their Shares as capital property generally will be able to exchange such Shares for Denison Shares under the Offer on a
tax-deferred basis. See "Certain Canadian Federal Income Tax Considerations". </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Purpose of the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of the Offer is to enable Denison to acquire all of the outstanding Shares and SRP Rights. If Denison takes up and accepts
for payment Shares validly deposited under the Offer, Denison currently intends, if possible to do so under and subject to compliance with all applicable Laws, to acquire all of the outstanding Shares
not deposited under the Offer pursuant to a Compulsory Acquisition or Subsequent Acquisition Transaction. See Section&nbsp;6 of the Circular, "Purpose of the Offer and Plans for Rockgate", and
Section&nbsp;9 of the Circular, "Acquisition of Shares Not&nbsp;Deposited". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Offer is successful, it is anticipated that the current management of Denison will manage Rockgate in place of Rockgate's current management, and that the board of directors of
Rockgate will be replaced by nominees of Denison. The Offer is consistent with Denison's strategy of becoming the leading uranium exploration and development company. Upon the completion of the Offer,
Denison intends to undertake an evaluation of the merits of a spin-out into a new company of Denison's African assets including its Mutanga development project in Zambia, its exploration joint
ventures with Rio Tinto in Namibia, as well as Rockgate's Falea project. Any such transaction would allow Denison to focus on its Athabasca Basin uranium exploration and development assets, while
continuing to provide diversification to Denison and Rockgate shareholders alike. The timing and structure of any such subsequent transaction will be decided in the context of prevailing market
conditions and optimal financial considerations. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Manner of Acceptance  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Shareholder who wishes to accept the Offer must deposit the certificate(s) or DRS Advice(s) representing its Shares, together with a
properly completed and executed Letter of Transmittal (printed on </FONT><FONT SIZE=2><B><I>YELLOW</I></B></FONT><FONT SIZE=2> paper), or a manually executed facsimile thereof, and all other required
documents at or prior to the Expiry Time at the office of the Depositary in Toronto, Ontario specified in the Letter of Transmittal. Detailed instructions are contained in the Letter of Transmittal
accompanying the Offer. See Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Letter of Transmittal". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a Shareholder wishes to accept the Offer and deposit its Shares under the Offer and the certificate(s) or DRS Advice(s) representing such Shareholder's Shares is (are) not immediately
available, the Shareholder cannot complete the procedure for book-entry transfer of its Shares on a timely basis, or if the certificate(s) or DRS Advice(s) and all other required documents cannot be
provided to the Depositary at or prior to the Expiry Time, such Shares nevertheless may be validly deposited under the Offer in compliance with the procedures for </FONT></P>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:times;text-align:justify"><FONT SIZE=2>guaranteed
delivery using the accompanying Notice of Guaranteed Delivery (printed on </FONT><FONT SIZE=2><B><I>PINK</I></B></FONT><FONT SIZE=2> paper). See Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Procedure for Guaranteed Delivery". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
may, alternatively, accept the Offer by following the procedures for book-entry transfer established by CDS, provided that a Book-Entry Confirmation through CDSX is received
by the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior to the Expiry Time. Shareholders may also accept the Offer by following the procedures for
book-entry transfer established by DTC, provided that a Book-Entry Confirmation, together with an Agent's Message in respect thereof, or a properly completed and executed Letter of Transmittal
(including signature guarantee if required), and all other required documents, are received by the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior to
the Expiry Time. Shareholders accepting the Offer through book-entry transfer must ensure such documents, as applicable, are received by the Depositary at or prior to the Expiry Time. See
Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
are required to deposit any SRP Rights associated with a Share in order to effect a valid deposit of such Share. While the Offer is not a Permitted Bid for the purposes of
the Shareholder Rights Plan, Denison's obligation to take up and pay for Shares under the Offer is conditional upon the Shareholder Rights Plan having been waived, suspended or otherwise rendered
inoperative or ineffective as regards to the Offer. Rockgate stated in a press release dated September&nbsp;17, 2013 that the Rockgate Board has waived the application of the Shareholder Rights Plan
to the Mega Uranium Arrangement. Denison is of the view that, as a consequence, under the terms of the Shareholder Rights Plan, it is also waived with respect to the Offer. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Shareholders will not be required to pay any fee or commission if they accept the Offer by depositing their Shares directly with
the&nbsp;Depositary.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Shareholders whose Shares are registered in the name of an investment advisor, stockbroker, bank, trust company or other nominee should immediately contact such
nominee for assistance in depositing their Shares with the Depositary. Intermediaries likely have established tendering cut-off times that are up to 48&nbsp;hours prior to the Expiry Time.
Shareholders must instruct their brokers or other intermediaries promptly if they wish to&nbsp;tender.</B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
should contact the Depositary, the Information Agent or a broker or dealer for assistance in accepting the Offer and in depositing Shares with the&nbsp;Depositary. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Conditions of the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison reserves the right to extend or withdraw the Offer and shall not be required to take up and pay for any Shares deposited under
the Offer unless the conditions described in Section&nbsp;4 of the Offer, "Conditions of the Offer", are satisfied or waived at or prior to the Expiry Time. The Offer is conditional upon, among
other&nbsp;things:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>there shall have been validly deposited under the Offer and not withdrawn at the Expiry Time such number of Shares which
constitutes (i)&nbsp;at least 90% of the Shares outstanding at the Expiry Time on a fully-diluted basis and (ii)&nbsp;at least a majority of the outstanding Shares, the votes of which would be
included in any minority approval of a Subsequent Acquisition Transaction pursuant to MI&nbsp;61-101; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the Mega Uranium Arrangement shall have been lawfully terminated in accordance with the terms of the Mega Uranium
Arrangement Agreement and on terms satisfactory to Denison in its sole discretion; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison having determined, acting reasonably, that no change (or&nbsp;any condition, event or development involving a
prospective change) in the business, operations, assets, capitalization, properties, financial condition, prospects, licences, permits, rights, privileges or liabilities of Rockgate any subsidiary of </FONT></DD></DL>
</UL>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Rockgate
exists, or has occurred that, when considered either individually or in the aggregate, constitutes a Material Adverse Effect in respect of&nbsp;Rockgate; </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a nuclear accident or significant nuclear environmental incident at a nuclear facility should occur which, in either case,
in the opinion of Denison, could reasonably be expected to have a significant adverse effect on the market price or value of the Shares;&nbsp;and </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>there not having occurred, developed or come into effect or existence any effect, action, state, condition or major
financial occurrence of national or international consequence or any law, regulation, action, government regulation, enquiry or other occurrence of any nature whatsoever which, in the opinion of
Denison, acting reasonably, materially adversely affects and will continue to materially adversely affect the financial markets in Canada or the United&nbsp;States. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>See
Section&nbsp;4 of the Offer, "Conditions of the Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Take-Up of and Payment for Deposited Shares  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If all of the conditions described in Section&nbsp;4 of the Offer, "Conditions of the Offer", have been fulfilled or waived by
Denison at or prior to the Expiry Time, Denison will take up and pay for Shares validly deposited under the Offer and not properly withdrawn as soon as reasonably practicable, and in any event not
later than three business days following the time at which Denison becomes entitled to take up Shares under the Offer and pursuant to applicable Laws. See Section&nbsp;6 of the Offer, "Take-Up of
and Payment for Deposited Shares". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Withdrawal of Deposited Shares  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares deposited under the Offer may be withdrawn by or on behalf of the depositing Shareholder at any time before the Shares have been
taken up by Denison under the Offer and in the other circumstances described in Section&nbsp;8 of the Offer, "Withdrawal of Deposited Shares". Except as so indicated or as otherwise required by
applicable Laws, deposits of Shares are irrevocable. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Acquisition of Shares Not Deposited  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, within four months after the date of the Offer, the Offer has been accepted by Shareholders holding not less than 90% of the
outstanding Shares as at the Expiry Time, excluding Shares held at the date of the Offer by or on behalf of Denison, or an affiliate or an associate of Denison, Denison intends, to the extent
possible, to acquire the remainder of the Shares from those Shareholders who have not accepted the Offer, pursuant to a Compulsory Acquisition under Section&nbsp;300 of the&nbsp;BCBCA. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a Compulsory Acquisition is not available or will not result in Denison acquiring all Shares issuable on exercise of all Options, Denison intends to use its commercially reasonable
best efforts to acquire the remaining Shares not tendered to the Offer as soon as practicable, including by way of a Subsequent Acquisition Transaction for consideration at least equivalent in value
to the consideration paid pursuant to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
who do not deposit their Shares under the Offer will not be entitled to any right of dissent or appraisal in connection with the Offer. However, Shareholders who do not
deposit their Shares under the Offer may have certain rights of dissent in the event Denison acquires at least 90% of the issued and outstanding Shares or acquires such Shares by way of a Compulsory
Acquisition or Subsequent Acquisition Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
Section&nbsp;9 of the Circular, "Acquisition of Shares Not Deposited". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Stock Exchange Listing  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Shares are listed on the TSX under the trading symbol "RGT". See Section&nbsp;3 of the Circular, "Certain Information Concerning
Securities of Rockgate&nbsp;&#151;&nbsp;Shares". If permitted by applicable Laws, Denison intends to </FONT></P>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:times;text-align:justify"><FONT SIZE=2>cause
Rockgate to apply to delist the Shares from the TSX as soon as practicable after completion of the Offer, any Compulsory Acquisition or any Subsequent Acquisition Transaction. See
Section&nbsp;15 of the Circular, "Effect of the Offer on the Market for and Listing of Shares and Status as a Reporting Issuer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
TSX has grated conditional listing approval for the Denison Shares issuable under the Offer, subject to completion and delivery of customary documentation to the TSX, and Denison has
applied to list the Denison Shares issuable under the Offer on the NYSE MKT. See Section&nbsp;23 of the Circular, "Stock Exchange Listing Application". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Canadian Federal Income Tax Considerations  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Resident Shareholder, who holds Shares as capital property and who exchanges such Shares for Denison Shares under the Offer, will not
realize a capital gain (or&nbsp;a capital loss) in respect of the exchange unless such Resident Shareholder elects to report such capital gain or capital loss in its income tax return for the year
in which the exchange occurs. Except where a particular Resident
Shareholder chooses to recognize a capital gain (or&nbsp;capital loss) on the exchange of Shares for Denison Shares, Resident Shareholders will be deemed to have disposed of their Shares for
proceeds of disposition equal to the adjusted cost base of such shares immediately before the exchange and to have acquired their Denison Shares at a cost equal to that same&nbsp;amount. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Resident Shareholder may choose to recognize a capital gain (or&nbsp;capital loss) on the exchange of Shares for Denison Shares by including the capital gain (or&nbsp;capital loss)
in such Resident Shareholder's tax return for the taxation year in which the exchange occurs. In those circumstances, the Resident Shareholder will realize a capital gain (or&nbsp;capital loss)
equal to the amount by which the fair market value of the Denison Shares received on the exchange (as&nbsp;at the time of the exchange) exceeds (or&nbsp;is exceeded by) the sum of the adjusted
cost base of the Shares exchanged therefor and any reasonable costs associated with the disposition and will acquire the Denison Shares at a cost equal to their fair market value at the time of
the&nbsp;exchange. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Non-Resident Shareholder generally will not be subject to Canadian income tax under the Tax&nbsp;Act on any capital gain realized on the exchange of Shares for Denison Shares under
the Offer unless the Shares constitute "taxable Canadian property" within the meaning of the Tax&nbsp;Act and the gain is not otherwise exempt from tax under the Tax&nbsp;Act pursuant to an
exemption contained in an applicable income tax treaty or&nbsp;convention. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depending
on the manner and circumstances in which a Subsequent Acquisition Transaction is undertaken, the tax consequences applicable to a Shareholder that is disposing of Shares
pursuant to a Subsequent Acquisition Transaction could differ in a materially adverse way from the tax consequences that would be applicable to such Shareholder if they were to dispose of Shares under
the Offer. In the case of a Non-Resident Shareholder, a portion of the consideration received on the disposition of Shares, pursuant to a Subsequent Acquisition Transaction, could be subject to
Canadian withholding&nbsp;tax. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The foregoing is only a brief summary of certain Canadian federal income tax consequences and is qualified by the more detailed general description of Canadian
federal income tax considerations in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations". Shareholders are urged to consult their own tax advisors to determine the
particular tax consequences to them of a sale of Shares pursuant to the Offer, a Compulsory Acquisition, a Compelled Acquisition or a Subsequent Acquisition Transaction. Holders of Options should
consult their own tax advisors having regard to their personal circumstances.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> United&nbsp;States Federal Income Tax Considerations  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the rules regarding passive foreign investment companies, or PFICs, Shareholders who are residents or citizens of the
United&nbsp;States for U.S.&nbsp;federal income tax purposes, who hold Shares as capital assets, and who dispose of Shares under the Offer generally will not recognize gain or loss on the exchange
if the exchange constitutes a reorganization under U.S.&nbsp;federal income tax law. Instead, the Shareholders will carry </FONT></P>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>7</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">


<P style="font-family:times;text-align:justify"><FONT SIZE=2>over
their tax basis (and&nbsp;their holding period) in the Shares surrendered to the Denison Shares received. If the exchange does not constitute a reorganization under U.S.&nbsp;federal income
tax law, the Shareholders will recognize a capital gain or loss for U.S.&nbsp;federal income tax purposes equal to the difference, if any, between the amount realized on the disposition and the
U.S.&nbsp;Shareholder's adjusted tax basis in the Shares. This capital gain or loss will be long-term capital gain or loss if the U.S.&nbsp;Shareholder's holding period in the Shares exceeds
one&nbsp;year. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that Rockgate has been a PFIC for U.S.&nbsp;federal income tax purposes during the Shareholder's holding period in the Shares, unless the Shareholder has filed on a timely
basis certain elections, (i)&nbsp;if the Offer qualifies as a reorganization under U.S.&nbsp;federal income tax law, the Shareholder will recognize a gain (if&nbsp;any), but not loss, on the
disposition of Shares pursuant to the Offer, unless Denison also qualifies as a PFIC for the tax year that includes the day after the Effective Date of the Offer, and (ii)&nbsp;if the Offer does not
qualify as a reorganization under U.S.&nbsp;federal income tax law, the Shareholder will recognize a gain or loss on the disposition of Shares pursuant to the Offer. As a result of the PFIC rules,
any such gain generally must be allocated rateably to each day the Shareholder has held the Shares, with amounts allocated to the current taxable year and to any taxable year prior to the first
taxable year, in which Rockgate was a PFIC, and taxable as ordinary income rather than capital gain. Amounts allocable to each other year, beginning with the first year during which Rockgate was a
PFIC, will be taxable as ordinary income at the highest rate in effect for that year and subject to an interest charge at the rates applicable to deficiencies for income tax for those&nbsp;periods. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Backup withholding and information reporting may also apply to U.S.&nbsp;Shareholders participating in the&nbsp;Offer.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The foregoing is a very brief summary of certain U.S.&nbsp;federal income tax consequences and is qualified by the summary of the principal U.S.&nbsp;federal
income tax considerations generally applicable to U.S.&nbsp;Shareholders in Section&nbsp;20 of the Circular, "Certain United&nbsp;States Federal Income Tax Considerations." Shareholders are
urged to consult their own tax advisors to determine the particular tax consequences to them of a sale of Shares pursuant to the Offer, a Compulsory Acquisition, a Compelled Acquisition or a
Subsequent Acquisition Transaction. Holders of Options should consult their own tax advisors having regard to their personal circumstances.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Shareholder Rights Plan  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer is not a Permitted Bid for the purposes of the Shareholder Rights Plan. However, Denison's obligation to take up and pay for
Shares under the Offer is conditional upon the Shareholder Rights Plan having been waived, suspended or otherwise rendered inoperative or ineffective as regards to the Offer. Rockgate stated in a
press release dated September&nbsp;17, 2013 that the Rockgate Board has waived the application of the Shareholder Rights Plan to the Mega Uranium Arrangement. Denison is of the view that, as a
consequence, under the terms of the Shareholder Rights Plan, it is also waived with respect to the Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Risk Factors  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An investment in Denison Shares and the integration of the operations and businesses of Denison and Rockgate are subject to certain
risks and uncertainties. In assessing the Offer, Shareholders should carefully consider the risks and uncertainties identified in Section&nbsp;17 of the Circular, "Risk&nbsp;Factors". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Depositary and Information Agent  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Computershare Investor Services&nbsp;Inc. has been retained by Denison to act as the Depositary to receive deposits of certificates
and DRS Advices representing Shares and accompanying Letters of Transmittal deposited under the Offer at its office in Toronto, Ontario specified in the Letter of Transmittal. The Depositary will also
receive Notices of Guaranteed Delivery at its office in Toronto, Ontario specified in the Notice of </FONT></P>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>8</FONT></P>

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<!-- ZEQ.=8,SEQ=18,EFW="2216722",CP="DENISON MINES CORPORATION",DN="1",CHK=791194,FOLIO='8',FILE='DISK104:[13ZCO3.13ZCO40303]CA40303A.;14',USER='WPALMA',CD='19-SEP-2013;11:25' -->
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 <P style="font-family:times;text-align:justify"><font size=0>&nbsp;</FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> </i></font></p>
<DIV style="width:100%;border:#000000 solid 1pt;padding-top:12pt;padding-right:12pt;padding-bottom:1pt;padding-left:12pt;">
 <P style="font-family:times;text-align:justify"><FONT SIZE=2>Guaranteed
Delivery. In addition, the Depositary will receive documentation at its office in Toronto, Ontario specified in the Letter of Transmittal in relation to Shareholders accepting the Offer
through book-entry transfer. The Depositary will also be responsible for giving certain notices, if required, and for making payment for all Shares purchased by Denison under the Offer. The Depositary
can be contacted at 1-800-564-6253&nbsp;toll free or by e-mail at <U>corporateactions@computershare.com</U>. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laurel
Hill Advisory Group has been retained by Denison to act as the Information Agent to provide a resource for information for Shareholders in connection with the Offer. The
Information Agent can be contacted at 1-877-452-7184&nbsp;toll free in North America or 1-416-304-0211&nbsp;outside North America or by e-mail at
<U>assistance@laurelhill.com</U>. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Depositary and the Information Agent will each receive reasonable and customary compensation from Denison for services in connection with the Offer and will be reimbursed for certain
out-of-pocket expenses. Further contact details for the Depositary and the Information Agent are provided on the back cover of this&nbsp;document. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
Section&nbsp;22 of the Circular, "Other Matters Related to the Offer". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Shareholders will not be required to pay any fee or commission if they accept the Offer by depositing their Shares directly with
the&nbsp;Depositary.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Financial Advisor  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haywood Securities&nbsp;Inc. has been retained to act as financial advisor to Denison with respect to the Offer. Denison reserves the
right to form&nbsp;a Soliciting Dealer Group to solicit acceptances of the Offer from persons resident in Canada. If Denison makes use of the services of a Soliciting Dealer, Denison may pay such
Soliciting Dealer a fee customary for such services for each Share deposited and taken up by Denison under the Offer (other than Shares held by a member of a Soliciting Dealer Group for its own
account). Denison may require Soliciting Dealers to furnish evidence of the beneficial ownership satisfactory to it at the time of deposit. See Section&nbsp;22 of the Circular, "Other Matters
Related to the Offer&nbsp;&#151;&nbsp;Financial Advisor and Soliciting Dealer&nbsp;Group". </FONT></P>
 <P style="font-family:times;text-align:justify"><font style="font-size:1pt;line-height:1pt;">&nbsp;</font></p>
</DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>9</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=19,EFW="2216722",CP="DENISON MINES CORPORATION",DN="1",CHK=878278,FOLIO='9',FILE='DISK104:[13ZCO3.13ZCO40303]CA40303A.;14',USER='WPALMA',CD='19-SEP-2013;11:25' -->
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</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc40303_selected_historical_financial_information_of_denison"> </A>
<A NAME="toc_dc40303_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SELECTED HISTORICAL FINANCIAL INFORMATION OF DENISON    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following tables contain certain historical financial information of Denison from (a)&nbsp;Denison's audited consolidated
financial statements as at and for each of the years ended December&nbsp;31, 2012 and 2011 filed on SEDAR on March&nbsp;7, 2013, and (b)&nbsp;Denison's unaudited interim condensed consolidated
financial statements as at and for the interim period ended June&nbsp;30, 2013 and 2012 filed on SEDAR on August&nbsp;8, 2013, each incorporated by reference herein. Please see these documents for
the full financial statements, including the notes thereto, for these&nbsp;periods. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="50pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="45pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="45pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="50pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Years ended December&nbsp;31 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Six months ended June&nbsp;30 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:195pt;"><FONT SIZE=1><B>Consolidated Income Statement Data:<BR>
(in&nbsp;thousands of U.S.&nbsp;dollars, except per share amounts)

<!-- COMMAND=ADD_SCROPPEDRULE,195pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>2012 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>2011 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>2013 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>2012 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>$</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>$</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>$</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>$</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Revenues</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>11,127</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>25,796</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>5,193</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>6,035</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operating expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(14,362</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(26,915</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(5,011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(6,891</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Mineral property exploration</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(12,508</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(13,150</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(7,211</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(7,416</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>General and administrative</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(10,475</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(9,901</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(3,952</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(4,830</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other income (expense)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(2,676</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(1,904</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>400</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>375</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income (loss) before finance charges</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(28,894</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(26,074</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(10,581</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(12,727</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Finance income (expense)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(450</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(108</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(309</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(212</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income (loss) before taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(29,344</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(26,182</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(10,890</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(12,939</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income tax recovery (loss)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>3,889</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1,630</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>2,991</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1,724</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income (loss) from continuing operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(25,455</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(24,552</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(7,889</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(11,215</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income (loss) from discontinued operations, net of tax</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(92,493</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(46,317</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(92,836</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income (loss) for the period</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(117,948</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(70,869</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(7,889</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(104,051</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Comprehensive income (loss) from continuing operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>5,053</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(8,151</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(18,399</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(1,947</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Comprehensive income (loss) from discontinued operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(5,297</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>101</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(5,297</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Comprehensive income (loss) for the period</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(118,192</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(78,919</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(26,298</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(11,295</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income (loss) per share (basic and diluted)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(0.31</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(0.19</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(0.02</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(0.27</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Weighted average number of shares o/s ('000)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>385,352</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>380,838</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>415,063</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>384,661</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="45pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="45pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="65pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>As at December&nbsp;31 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>As at June&nbsp;30 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:120pt;"><FONT SIZE=1><B>Consolidated Balance Sheet Data:<BR>
(in&nbsp;millions of dollars)

<!-- COMMAND=ADD_SCROPPEDRULE,120pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>2012 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>2011 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>2013 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>$</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>$</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>$</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Property, plant and equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>247,888</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>367,370</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>318,184</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>300,356</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>504,486</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>361,608</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reclamation obligations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>15,664</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>21,576</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>14,742</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total liabilities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>36,827</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>49,682</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>30,855</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total equity</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>263,529</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>454,804</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>330,753</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>10</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="de40303_glossary"> </A>
<A NAME="toc_de40303_1"> </A>
<BR></FONT><FONT SIZE=2><B>  GLOSSARY    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>This Glossary forms part of the Offer. In the accompanying summary, Offer, Circular, Letter of Transmittal and
Notice of Guaranteed Delivery, unless the subject matter or context is inconsistent therewith, the following terms shall have the respective meanings set out below and grammatical variations thereof
shall have the corresponding meanings:</I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Acquiring Person</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>affiliate</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in the BCSA; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Agent's Message</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>allowable capital loss</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Residents of Canada&nbsp;&#151;&nbsp;Taxation of Capital Gains and Capital Losses"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>associate</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in the BCSA; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>BCBCA</B></FONT><FONT SIZE=2>" means the </FONT><FONT SIZE=2><I>Business Corporations Act</I></FONT><FONT SIZE=2> (British Columbia), as amended or replaced from time
to&nbsp;time; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>BCSA</B></FONT><FONT SIZE=2>" means the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (British Columbia), as amended or replaced from time to&nbsp;time; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Book-Entry Confirmation</B></FONT><FONT SIZE=2>" means confirmation of a book-entry transfer of a Shareholder's Shares into the Depositary's account at CDS and/or DTC,
as&nbsp;applicable; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>business combination</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in MI 61-101; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>business day</B></FONT><FONT SIZE=2>" means, unless otherwise specified herein, a day, other than a Saturday or a Sunday, on which the principal commercial banks located in
Toronto, Ontario and Vancouver, British Columbia are open for the conduct of&nbsp;business; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Cassels</B></FONT><FONT SIZE=2>" means Cassels Brock&nbsp;&amp; Blackwell&nbsp;LLP, Canadian counsel to Denison; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>CDS</B></FONT><FONT SIZE=2>" means CDS Clearing and Depository Services&nbsp;Inc., or its nominee, which at the date hereof is CDS&nbsp;&amp;&nbsp;Co.; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>CDSX</B></FONT><FONT SIZE=2>" means the CDS on-line tendering system pursuant to which book-entry transfers may be&nbsp;effected; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Circular</B></FONT><FONT SIZE=2>" means the take-over bid circular accompanying and forming part of the&nbsp;Offer; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Code</B></FONT><FONT SIZE=2>" has the meaning given to it in Section&nbsp;20 of Circular, "Certain United&nbsp;States Federal Income Tax Considerations; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Compelled Acquisition</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Compelled Acquisition"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Compulsory Acquisition</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Compulsory Acquisition"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Convention</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Non-Residents of Canada&nbsp;&#151;&nbsp;Disposition of Shares Pursuant to a Subsequent Acquisition Transaction"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Court</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Compulsory Acquisition"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>CRA</B></FONT><FONT SIZE=2>" means the Canada Revenue Agency; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>December&nbsp;2012 Proposals</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Residents of Canada&nbsp;&#151;&nbsp;Eligibility of Denison Shares for Investment"; </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>11</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_de40303_1_12"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Denison Shares</B></FONT><FONT SIZE=2>" means the common shares of Denison, and "</FONT><FONT SIZE=2><B>Denison Share</B></FONT><FONT SIZE=2>" means one common share
of&nbsp;Denison; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Denison</B></FONT><FONT SIZE=2>" means Denison Mines Corp. a corporation existing under the laws of the Province of&nbsp;Ontario; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Depositary</B></FONT><FONT SIZE=2>" means Computershare Investor Services&nbsp;Inc.; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Deposited Shares</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Dividends and Distributions"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Dissenting Offeree</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Compulsory Acquisition"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Distributions</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Dividends and Distributions"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>DRS Advice</B></FONT><FONT SIZE=2>" means, with respect to the applicable securities, written evidence of the book entry issuance or holding of such securities issued to the
holder of such securities by the transfer agent of such securities; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>DTC</B></FONT><FONT SIZE=2>" means The Depository Trust Company, or its nominee; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Effective Time</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Power
of&nbsp;Attorney"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Eligible Institution</B></FONT><FONT SIZE=2>" means a Canadian schedule&nbsp;1 chartered bank, a major trust company in Canada, a member of the Securities Transfer Agent
Medallion Program (STAMP), a member of the Stock Exchanges Medallion Program (SEMP) or a member of the New&nbsp;York Stock Exchange&nbsp;Inc. Medallion Signature Program&nbsp;(MSP); </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Expiry Time</B></FONT><FONT SIZE=2>" means 4:00&nbsp;p.m. (Toronto time) on October&nbsp;25, 2013, or such later time or times and date or dates as may be fixed by Denison
from time to time pursuant to Section&nbsp;5 of the Offer, "Extension, Variation or Change in the Offer", unless the Offer is withdrawn by&nbsp;Denison; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Flip-in Event</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>fully-diluted basis</B></FONT><FONT SIZE=2>" means, with respect to the number of outstanding Shares at any time, the number of Shares that would be outstanding if all of the
in-the-money Options and all other securities convertible or exchangeable for Shares were exercised, for or exchanged or converted into&nbsp;Shares; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Governmental Entity</B></FONT><FONT SIZE=2>" means any: (a)&nbsp;multinational or supranational body or organization, nation, government, state, province, country,
territory, municipality, quasi-government, administrative, judicial or regulatory authority, agency, board, body, bureau, commission, instrumentality, court or tribunal or political subdivision
thereof, any central bank (or&nbsp;similar monetary or regulatory authority), taxing authority, ministry, department or agency of any of the foregoing; (b)&nbsp;self-regulatory organization or
stock exchange, including the TSX and the NYSE MKT; (c)&nbsp;entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government; and
(d)&nbsp;corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of such entities or other bodies pursuant to the&nbsp;foregoing; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Haywood</B></FONT><FONT SIZE=2>" means Haywood Securities&nbsp;Inc., financial advisor to Denison; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>IFRS</B></FONT><FONT SIZE=2>" means International Financial Reporting Standards and refers to the accounting framework, standards and interpretations issued by the
International Accounting Standards Board, as updated and amended from time to time, and comprise International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations
(as&nbsp;issued by the IFRS Interpretations Committee) and SIC Interpretations (as&nbsp;issued by the Standing Interpretations Committee); </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Information Agent</B></FONT><FONT SIZE=2>" means Laurel Hill Advisory Group; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>insider</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in the BCSA; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>JP Morgan</B></FONT><FONT SIZE=2>" means JP Morgan Asset Management (UK) Limited; </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>12</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_de40303_1_13"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Laws</B></FONT><FONT SIZE=2>" means any applicable laws, including international, national, provincial, state, municipal and local laws (including common law), treaties,
statutes, ordinances, judgments, decrees, injunctions, writs, certificates and orders, by-laws, rules, regulations, ordinances or other requirements of any Governmental Entity having the force of law
and the term "applicable" with respect to such Laws and in a context that refers to one or more persons, means such Laws as are applicable to such person or persons or its or their business,
undertaking, property or securities and emanate from a person having jurisdiction over the person or persons or its or their business, undertaking, property or&nbsp;securities; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Letter of Transmittal</B></FONT><FONT SIZE=2>" means, with respect to the Offer, the letter of transmittal in the form accompanying the Offer and Circular (printed on </FONT> <FONT SIZE=2><B><I>YELLOW</I></B></FONT><FONT SIZE=2> paper) and,
with respect to a Compulsory Acquisition or a Subsequent Acquisition Transaction, the letter of transmittal accompanying the
Offeror's Notice delivered in connection with such transaction; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Locked-Up Shareholders</B></FONT><FONT SIZE=2>" means, collectively, JP Morgan, the New&nbsp;City&nbsp;Entities and the Sprott Entities; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Lock-Up Agreements</B></FONT><FONT SIZE=2>" means the lock-up agreements between Denison and the Locked-Up Shareholders, as amended from time to&nbsp;time; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Market Price</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Material Adverse Effect</B></FONT><FONT SIZE=2>" means, in respect of a person, any effect that is, or could reasonably be expected to be, material and adverse to the
business, condition (financial or otherwise), properties, assets (tangible or intangible), prospects, liabilities (whether absolute, accrued, conditional or otherwise), operations or results of
operations of such person and its subsidiaries taken as a&nbsp;whole; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>material fact</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in the BCSA; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Mega Uranium Arrangement Agreement</B></FONT><FONT SIZE=2>" means the arrangement agreement dated August&nbsp;13, 2013 between Rockgate and Mega&nbsp;Uranium; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Mega Uranium Arrangement</B></FONT><FONT SIZE=2>" means the plan of arrangement transactions contemplated by the Mega Uranium Arrangement Agreement; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Mega Uranium</B></FONT><FONT SIZE=2>" means Mega Uranium&nbsp;Ltd., a corporation incorporated under the laws of Province of&nbsp;Ontario; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>MI 61-101</B></FONT><FONT SIZE=2>" means Multilateral Instrument&nbsp;61-101&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>Protection of Minority Security
Holders in Special Transactions</I></FONT><FONT SIZE=2>, as amended or replaced from time to&nbsp;time; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>MI 62-104</B></FONT><FONT SIZE=2>" means Multilateral Instrument&nbsp;62-104&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>Take-Over Bids and Issuer
Bids,</I></FONT><FONT SIZE=2> as amended or replaced from time to&nbsp;time; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Minimum Tender Condition</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;4 of the Offer, "Conditions of the&nbsp;Offer"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>New&nbsp;City Entities</B></FONT><FONT SIZE=2>" means New&nbsp;City Energy Limited, Geiger Counter Limited and City Natural Resources High Yield Trust&nbsp;Plc; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>NI&nbsp;43-101</B></FONT><FONT SIZE=2>" means National Instrument&nbsp;43-101&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>Standards of Disclosure for
Mineral Projects</I></FONT><FONT SIZE=2>, as amended or replaced from time to&nbsp;time; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Non-Resident Shareholder</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Non-Residents of&nbsp;Canada"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Notice of Guaranteed Delivery</B></FONT><FONT SIZE=2>" means the notice of guaranteed delivery in the form accompanying the Offer and Circular (printed on </FONT> <FONT SIZE=2><B><I>PINK</I></B></FONT><FONT SIZE=2>&nbsp;paper); </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>NYSE MKT</B></FONT><FONT SIZE=2>" means NYSE MKT&nbsp;LLC; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Offer</B></FONT><FONT SIZE=2>" means the offer to purchase Shares and SRP Rights made hereby to the Shareholders pursuant to the terms set forth herein and subject to the
conditions set out&nbsp;herein; </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>13</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_de40303_1_14"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Offeror's Notice</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Compulsory Acquisition"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Option Plan</B></FONT><FONT SIZE=2>" means the Stock Option Plan (amended) of Rockgate, as amended from time to&nbsp;time; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Options</B></FONT><FONT SIZE=2>" means, collectively, the options issued and outstanding as of September&nbsp;18, 2013 pursuant to the Option&nbsp;Plans; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>OSA</B></FONT><FONT SIZE=2>" means the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (Ontario), as amended or replaced from time to&nbsp;time; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>OSC Rule&nbsp;62-504</B></FONT><FONT SIZE=2>" means Ontario Securities Commission
Rule&nbsp;62-504&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>Take-Over Bids and Issuer Bids</I></FONT><FONT SIZE=2>, as amended or replaced from time to&nbsp;time; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Permitted Bid</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>person</B></FONT><FONT SIZE=2>" means an individual, general partnership, limited partnership, corporation, company, limited liability company, unincorporated association,
unincorporated syndicate, unincorporated organization, trust, trustee, executor, administrator, other legal representative and any other form of entity or organization; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>PFIC</B></FONT><FONT SIZE=2>" has the meaning given to it in Section&nbsp;21 of Circular, "Certain United&nbsp;States Federal Income Tax Considerations; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Purchase Price</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;1 of the Offer, "The&nbsp;Offer"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Purchased Shares</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Power of&nbsp;Attorney"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>QEF</B></FONT><FONT SIZE=2>" has the meaning given to it in Section&nbsp;21 of Circular, "Certain United&nbsp;States Federal Income Tax Considerations"; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Representative</B></FONT><FONT SIZE=2>" means, in respect of a person, its subsidiaries and its affiliates and its and their directors, officers, employees, agents and
representatives (including any financial, legal or other advisors); </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Resident Shareholder</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Residents of&nbsp;Canada"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>"Restricted Event</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;4 of the Offer, "Conditions to the&nbsp;Offer"; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Rockgate</B></FONT><FONT SIZE=2>" means Rockgate Capital Corp., a company existing under the laws of the Province of British Columbia, including, if the context so requires,
its&nbsp;affiliates; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Rockgate Board</B></FONT><FONT SIZE=2>" means the board of directors of Rockgate; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>RRIF</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Residents of Canada&nbsp;&#151;&nbsp;Potential Delisting"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>RRSP</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Residents of Canada&nbsp;&#151;&nbsp;Potential Delisting"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>SEC</B></FONT><FONT SIZE=2>" means the United&nbsp;States Securities and Exchange Commission; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>SEDAR</B></FONT><FONT SIZE=2>" means the System for Electronic Document Analysis and Retrieval on the Canadian Securities Administrators' website at
<U>www.sedar.com</U>; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Separation Time</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan"; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Shareholder Rights Plan</B></FONT><FONT SIZE=2>" means the shareholder rights plan of Rockgate dated for reference June&nbsp;16,&nbsp;2008 or any shareholder rights plan
of Rockgate adopted or implemented subsequent to the date of the Offer; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Shareholders</B></FONT><FONT SIZE=2>" means holders of Shares; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Shares</B></FONT><FONT SIZE=2>" means the issued and outstanding common shares of Rockgate together with any associated SRP Rights, including common shares that may become
issued and outstanding after the date of the Offer upon the </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>14</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_de40303_1_15"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>exercise,
exchange or conversion of the Options or any other outstanding rights, and "</FONT><FONT SIZE=2><B>Share</B></FONT><FONT SIZE=2>" means any one common share of&nbsp;Rockgate; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Soliciting Dealer Group</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;22 of the Circular, "Other Matters Related to the
Offer&nbsp;&#151;&nbsp;Financial Advisor and Soliciting Dealer&nbsp;Group"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Soliciting Dealer</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;22 of the Circular, "Other Matters Related to the
Offer&nbsp;&#151;&nbsp;Financial Advisor and Soliciting Dealer&nbsp;Group"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Sprott</B></FONT><FONT SIZE=2>" means Sprott Resource Global Investments&nbsp;Ltd.; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Sprott Entities</B></FONT><FONT SIZE=2>" means Sprott Asset Management USA&nbsp;Inc., Resource Capital Investment Corp. General Partner and Sprott Asset
Management&nbsp;LP; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>SRP Exercise Price</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan"; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>SRP Right</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Subsequent Acquisition Transaction</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Subsequent Acquisition Transaction"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>subsidiary</B></FONT><FONT SIZE=2>" means, with respect to a person, any body corporate of which more than 50% of the outstanding shares ordinarily entitled to elect a
majority of the board of directors thereof (whether or not shares of any other class shall or might be entitled to vote upon the happening of any event or contingency) are at the time owned directly
or indirectly by such person and shall include any body corporate, partnership, joint venture or other entity over which it exercises direction or control or which is in a like relation to
a&nbsp;subsidiary; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>take up</B></FONT><FONT SIZE=2>", in reference to Shares, means to accept such Shares for payment by giving written notice of such acceptance to the Depositary and
"</FONT><FONT SIZE=2><B>take-up</B></FONT><FONT SIZE=2>", "</FONT><FONT SIZE=2><B>taking up</B></FONT><FONT SIZE=2>" and "</FONT><FONT SIZE=2><B>taken up</B></FONT><FONT SIZE=2>" have corresponding
meanings; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Take-Up Date</B></FONT><FONT SIZE=2>" means any date on which Denison takes up and pays for Shares pursuant to the Offer or acquires Shares pursuant to a Compulsory
Acquisition or a Subsequent Acquisition Transaction; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Tax Proposals</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Tax&nbsp;Act</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>taxable capital gain</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Residents of Canada&nbsp;&#151;&nbsp;Taxation of Capital Gains and Capital Losses"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>TFSA</B></FONT><FONT SIZE=2>" has the meaning ascribed thereto in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax
Considerations&nbsp;&#151;&nbsp;Residents of Canada&nbsp;&#151;&nbsp;Potential Delisting"; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Treasury Regulations</B></FONT><FONT SIZE=2>" means Regulations of the United&nbsp;States Department of the Treasury and/or the United&nbsp;States Internal Revenue Service
promulgated under or in respect of the&nbsp;Code; </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>TSX</B></FONT><FONT SIZE=2>" means the Toronto Stock Exchange; </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>U.S.&nbsp;Shareholder</B></FONT><FONT SIZE=2>" has the meaning given to it in Section&nbsp;20 of Circular, "Certain United&nbsp;States Federal Income Tax
Considerations";&nbsp;and </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>U.S.&nbsp;Securities Act</B></FONT><FONT SIZE=2>" means the United&nbsp;States Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>15</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dg40303_offer"> </A>
<A NAME="toc_dg40303_1"> </A>
<BR></FONT><FONT SIZE=3><B>OFFER    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>The accompanying Circular, which is incorporated into and forms part of the Offer, contains important
information that should be read carefully before making a decision with respect to the Offer. Unless the context otherwise requires, capitalized terms used but not defined in the Offer have the
respective meanings set out in the accompanying Glossary.</I></FONT></P>

<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>September&nbsp;19,
2013 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> TO: THE HOLDERS OF SHARES OF ROCKGATE CAPITAL CORP.  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison is offering, upon and subject to the terms and conditions of the Offer, to purchase all of the issued and outstanding Shares and SRP Rights, including all
Shares issued after the date hereof but before the Expiry Time upon the exercise, exchange or conversion of the Options or any other outstanding rights, for a purchase price
(the&nbsp;"</FONT><FONT SIZE=2><B>Purchase Price</B></FONT><FONT SIZE=2>") of 0.192 of a Denison Share for each&nbsp;Share. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligation of Denison to take up and pay for Shares pursuant to the Offer is subject to certain conditions. See Section&nbsp;4 of the Offer, "Conditions of the&nbsp;Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
who deposit their Shares pursuant to the Offer will be deemed to have deposited the SRP Rights associated with such Shares. No additional payment will be made for the SRP
Rights and no amount of the consideration paid by Denison for the Shares will be allocated to the SRP&nbsp;Rights. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Offer is being made only for Shares and SRP Rights and is not made for any Options. Any holder of Options who wishes to accept the Offer must, to the extent permitted by the terms of
such Options and applicable Laws, exercise, exchange or convert such Options in order to obtain certificates or DRS Advices representing Shares and deposit those Shares in accordance with the terms of
the Offer. Any such exercise, exchange or conversion must be completed sufficiently in advance of the Expiry Time to ensure that the holder of such Options will have certificates or DRS Advices
representing the Shares received on such exercise, exchange or conversion available for deposit at or prior to the Expiry Time, or in sufficient time to comply with the procedures referred to in
Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Procedure for Guaranteed Delivery". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> No Fractional Shares  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No fractional Denison Shares will be issued under the Offer. Any Shareholder who would otherwise be entitled to receive a fractional
Denison Share will receive the applicable number of Denison Shares, rounded down to the nearest whole&nbsp;number. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Options  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer is being made only for Shares and SRP Rights and is not made for any Options. Any holder of Options who wishes to accept the
Offer must, to the extent permitted by the terms of the security and applicable Laws, exercise, exchange or convert such Options in order to obtain certificates or DRS Advices representing Shares and
deposit those Shares in accordance with the terms of the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Right of Dissent  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders are not entitled to any right of dissent or appraisal under the Offer. Following completion of the Offer, if Denison
determines to acquire Shares by way of a Compulsory Acquisition or Subsequent Acquisition Transaction, remaining Shareholders may have certain rights of dissent available in respect of any </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>16</FONT></P>

<HR NOSHADE>
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<A NAME="page_dg40303_1_17"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Compulsory
Acquisition or Subsequent Acquisition Transaction. See Section&nbsp;9 of the Circular, "Acquisition of Shares Not&nbsp;Deposited". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> No Offer Where Unlawful  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This document does not constitute an offer or a solicitation to any person in any jurisdiction in which such offer or solicitation is
unlawful. The Offer is not being made to, nor will deposits be accepted from or on behalf of, Shareholders in any jurisdiction in which the making or acceptance of the Offer would not be in compliance
with the laws of such jurisdiction. However, Denison may, in Denison's sole discretion, take such action as Denison may deem necessary to extend the Offer to Shareholders in any such jurisdiction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Further Information  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders should contact the Depositary, the Information Agent or a broker or dealer for assistance in accepting the Offer and in
depositing Shares with the&nbsp;Depositary. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Fees and Expenses  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>Shareholders will not be required to pay any fee or commission if they accept the Offer by depositing their
Shares directly with the&nbsp;Depositary.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Non-Registered Shareholders  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>Shareholders whose Shares are registered in the name of an investment advisor, stockbroker, bank, trust company
or other nominee should immediately contact such nominee for assistance in depositing their Shares. Intermediaries likely have established tendering cut-off times that are up to 48&nbsp;hours prior
to the Expiry Time. Shareholders must instruct their brokers or other intermediaries promptly if they wish to&nbsp;tender.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time for Acceptance  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer is open for acceptance from the date of the Offer until 4:00&nbsp;p.m. (Toronto time) on October&nbsp;25, 2013, or such later time or times and date
or dates as may be fixed by Denison from time to time pursuant to Section&nbsp;5 of the Offer, "Extension, Variation or Change in the Offer", unless the Offer is withdrawn by&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manner of Acceptance  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Letter of Transmittal  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer may be accepted by delivering to the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal
(printed on </FONT><FONT SIZE=2><B><I>YELLOW</I></B></FONT><FONT SIZE=2> paper) accompanying the Offer, so as to be received at or prior to the Expiry&nbsp;Time: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
certificate(s) or DRS Advice(s) representing the Shares in respect of which the Offer is being&nbsp;accepted;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
Letter of Transmittal in the form accompanying the Offer, or a manually executed facsimile thereof, properly completed and executed in accordance with the
instructions set out in the Letter of Transmittal;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>all
other documents required by the instructions set out in the Letter of&nbsp;Transmittal. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Offer will be deemed to be accepted only if the Depositary has actually received these documents at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior
to the Expiry Time. Alternatively, Shares may be deposited under the Offer in compliance with the procedures for guaranteed delivery set out </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>below
under the heading "&#151;&nbsp;Procedure for Guaranteed Delivery" or in compliance with the procedures for book-entry transfers set out below under the heading
"&#151;&nbsp;Acceptance by Book-Entry Transfer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
will not be required to pay any fee or commission if they accept the Offer by depositing their Shares directly with the&nbsp;Depositary. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
certain cases, the signatures on the Letter of Transmittal must be guaranteed by an Eligible Institution. See "&#151;&nbsp;Letter of Transmittal Signature Guarantees"
below and the instructions set out in the Letter of&nbsp;Transmittal. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Letter of Transmittal Signature Guarantees  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No signature guarantee is required on the Letter of Transmittal if: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Letter of Transmittal is signed by the registered owner of Shares exactly as the name of the registered holder appears on the Share certificate(s) or
DRS Advice(s) deposited therewith, and the consideration payable under the Offer is to be delivered directly to such registered holder;&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Shares
are deposited for the account of an Eligible Institution. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
all other cases, all signatures on the Letter of Transmittal must be guaranteed by an Eligible Institution. If a certificate or DRS Advice representing Shares is registered in the
name of a person other than the signatory of a Letter of Transmittal or if the consideration payable under the Offer is to be delivered to a person other than the registered holder, the certificate or
DRS Advice must be endorsed or accompanied by an appropriate share transfer power of attorney, as applicable and in either case, signed exactly as the name of the registered holder appears on the
certificate or DRS Advice with the signature on the certificate or power of attorney, as applicable, guaranteed by an Eligible Institution. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Procedure for Guaranteed Delivery  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a Shareholder wishes to deposit Shares under the Offer and (a)&nbsp;the certificate(s) or DRS Advice(s) representing the Shares is
(are) not immediately available, (b)&nbsp;the Shareholder cannot complete the procedure for book-entry transfer of the Shares on a timely basis, or (c)&nbsp;the certificate(s) or DRS Advice(s) and
all other required documents cannot be delivered to the Depositary at or prior to the Expiry Time, those Shares may nevertheless be deposited validly under the Offer provided that all of the following
conditions are&nbsp;met: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
deposit is made by or through an Eligible Institution;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
Notice of Guaranteed Delivery (printed on </FONT><FONT SIZE=2><B><I>PINK</I></B></FONT><FONT SIZE=2> paper), in the form accompanying the Offer, properly
completed and executed, or a manually executed facsimile thereof, including a guarantee of delivery by an Eligible Institution in the form set out in the Notice of Guaranteed Delivery, is received by
the Depositary at its office in Toronto, Ontario specified in the Notice of Guaranteed Delivery at or prior to the Expiry Time;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
certificate(s) or DRS Advice(s) representing all deposited Shares, together with a Letter of Transmittal, or a manually executed facsimile thereof,
properly completed and executed, with the signatures guaranteed, if required, in accordance with the instructions set out in the Letter of Transmittal, and all other documents required thereby, are
received by the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the TSX after the
Expiry&nbsp;Time. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The Notice of Guaranteed Delivery must be delivered by hand or courier or transmitted by facsimile or mailed to the Depositary at its office in Toronto, Ontario
specified in the Notice of Guaranteed Delivery at or prior to the Expiry Time and must include a guarantee by an Eligible Institution in the form set forth in the Notice of Guaranteed Delivery.
Delivery of the Notice of Guaranteed Delivery and the Letter of Transmittal and  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>18</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> accompanying certificate(s) or DRS Advice(s) representing Shares and all other required documents to an address or transmission by facsimile to a facsimile number other than those specified in the
Notice of Guaranteed Delivery does not constitute delivery for purposes of satisfying a guaranteed delivery.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Acceptance by Book-Entry Transfer  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders may accept the Offer by following the procedures for a book-entry transfer established by CDS, provided that a Book-Entry
Confirmation through CDSX is received by the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior to the Expiry Time. The Depositary has established an
account at CDS for the purpose of the Offer. Any financial institution that is a participant in CDS may cause CDS to make a book-entry transfer of a Shareholder's Shares into the Depositary's account
in accordance with CDS procedures for such transfer. Delivery of
Shares to the Depositary by means of a book-entry transfer will constitute a valid deposit of Shares under the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
who, through their respective CDS participants, utilize CDSX to accept the Offer through a book-entry transfer of their holdings into the Depositary's account with CDS shall
be deemed to have completed and submitted a Letter of Transmittal and to be bound by the terms thereof and, therefore, such instructions received by the Depositary are considered a valid deposit in
accordance with the terms of the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
may also accept the Offer by following the procedures for a book-entry transfer established by DTC, provided that a Book-Entry Confirmation, together with an Agent's Message
(as&nbsp;defined below) in respect thereof, or a properly completed and executed Letter of Transmittal (including signature guarantee if required), or a manually executed facsimile thereof, and all
other required documents, are received by the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior to the Expiry Time. The Depositary has entered into an
ATOP (Automated Tender Offer Program) agreement with DTC for the purpose of the Offer. Any financial institution that is a participant in DTC may cause DTC to deliver an Agent's Message of the
book-entry transfer of a Shareholder's Shares to the Depositary in accordance with DTC's procedures for such transfer. However, although delivery of Shares may be effected through book-entry transfer
at DTC, either an Agent's Message in respect thereof or a Letter of Transmittal, or a manually executed facsimile thereof, properly completed and executed (including signature guarantee if required),
and all other required documents, must, in any case, be received by the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior to the Expiry Time. Delivery of
documents to DTC in accordance with its procedures does not constitute delivery to the Depositary. Such documents or Agent's Message should be sent to the&nbsp;Depositary. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
term "</FONT><FONT SIZE=2><B>Agent's Message</B></FONT><FONT SIZE=2>" means a message transmitted by DTC to, and received by, the Depositary and forming part of a Book-Entry
Confirmation, which states that DTC has received an express acknowledgement from the participant in DTC depositing the Shares which are the subject of such Book-Entry Confirmation that such
participant has received and agrees to be bound by the terms of the Letter of Transmittal as if executed by such participant and that Denison may enforce such agreement against such participant. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> SRP Rights  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders are required to deposit any SRP Rights associated with a Share in order to effect a valid deposit of such Share. As long
as the "Separation Time" as defined in the Shareholder Rights Plan has not occurred, a deposit of Shares will also constitute a deposit of the associated SRP Rights. The Offer is not a Permitted Bid
for the purposes of the Shareholder Rights Plan, and Denison's obligation to take up and pay for Shares under the Offer is conditional upon the Shareholder Rights Plan having been waived, suspended or
otherwise rendered inoperative or ineffective as regards to the Offer. Rockgate stated in a press release dated September&nbsp;17, 2013 that the Rockgate Board has waived the application of the
Shareholder Rights Plan to the Mega Uranium Arrangement. Denison is of the view that, as a consequence, under the terms of the Shareholder Rights Plan, it is also waived with respect to
the&nbsp;Offer. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>19</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> General  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer will be deemed to be accepted by a Shareholder only if the Depositary has actually received the requisite documents at its
office in Toronto, Ontario specified in the Letter of Transmittal at or prior to the Expiry Time. In all cases, payment for the Shares deposited and taken up by Denison will be made only after timely
receipt by the Depositary of: (a)&nbsp;the certificate(s) or DRS Advice(s) representing the Shares (or&nbsp;a Book-Entry Confirmation for the Shares, as applicable); (b)&nbsp;a Letter of
Transmittal, or a manually executed facsimile thereof, properly completed and duly executed, covering such Shares, with the signature(s) guaranteed, if required, in accordance with the instructions
set out in the Letter of Transmittal (or, in the case of Shares deposited using the procedures for book-entry transfer established by CDS, a Book-Entry Confirmation for the Shares and, in the case of
Shares deposited using the procedures for book-entry transfer established by DTC, an Agent's Message); and (c)&nbsp;all other required documents. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The method of delivery of certificate(s) or DRS Advice(s) representing Shares (or&nbsp;a Book-Entry Confirmation, as applicable), the Letter of Transmittal, the
Notice of Guaranteed Delivery and all other required documents is at the option and risk of the person depositing such documents. Denison recommends that such documents be delivered by hand to the
Depositary and that a receipt be obtained or, if mailed, that registered mail, with return receipt requested, be used and that proper insurance be obtained. It is suggested that any such mailing be
made sufficiently in advance of the Expiry Time to permit delivery to the Depositary at or prior to the Expiry Time. Delivery will only be effective upon actual physical receipt by
the&nbsp;Depositary.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Investment advisors, stockbrokers, banks, trust companies or other nominees may set deadlines for the deposit of Shares that are earlier than those specified
above. Shareholders whose Shares are registered in the name of an investment advisor, stockbroker, bank, trust company or other nominee should immediately contact such nominee for assistance in
depositing their Shares if they wish to accept the&nbsp;Offer.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
questions as to the validity, form, eligibility (including, without limitation, timely receipt) and acceptance of any Shares deposited under the Offer will be determined by Denison
in its sole discretion. Depositing Shareholders agree that such determination will be final and binding. Denison reserves the absolute right to reject any and all deposits that it determines not to be
in proper form or that may be unlawful to accept under the laws of any jurisdiction. Denison reserves the absolute right to waive any defects or irregularities in the deposit of any Shares. There
shall be no duty or obligation of Denison, the Depositary, the Information Agent or any other person to give notice of any defects or irregularities in any deposit of Shares or any notice of
withdrawal and no liability shall be incurred or suffered by any of them for failure to give any such notice. Denison's interpretation of the terms and conditions of the Offer, the Circular, the
Letter of Transmittal, the Notice of Guaranteed Delivery and any other related documents will be final and&nbsp;binding. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
reserves the right to permit the Offer to be accepted in a manner other than that set out in this Section&nbsp;3. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Dividends and Distributions  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of the Offer and subject, in particular, to Shares being validly withdrawn by or on behalf of a
depositing Shareholder, and except as provided below, by accepting the Offer pursuant to the procedures set out herein, a Shareholder deposits, sells, assigns and transfers to Denison all right, title
and interest in and to the Shares and SRP Rights associated therewith covered by the Letter of Transmittal or book-entry transfer (collectively, the "</FONT><FONT SIZE=2><B>Deposited
Shares</B></FONT><FONT SIZE=2>") and in and to all rights and benefits arising from such Deposited Shares including, without limitation, any and all dividends, distributions, payments, securities,
property, rights or other interests that may be declared, paid, accrued, issued, distributed, made or transferred on or in respect of the Deposited Shares or any of them on or after the date of the
Offer, including, without limitation, any dividends, distributions or payments on such dividends, distributions, payments, securities, property, rights or other interests (collectively,
"</FONT><FONT SIZE=2><B>Distributions</B></FONT><FONT SIZE=2>"). </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>20</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
on or after the date of the Offer, Rockgate should declare, set aside or pay any dividend or other Distribution, which is or are payable or distributable to Shareholders on a record
date prior to the date of transfer into the name of Denison or its nominee or transferee on the securities register maintained by or on behalf of Rockgate in respect of Shares accepted for purchase
under the Offer, then (and&nbsp;without prejudice to its rights under Section&nbsp;4 of the Offer, "Conditions of the Offer"): (a)&nbsp;in the case of any such cash dividends or other
Distributions that in an aggregate amount do not exceed the cash consideration per Share payable by Denison pursuant to the Offer, the amount of the dividends or other Distributions will be received
and held by the depositing Shareholder for the account of Denison until Denison pays for such Shares and the Purchase Price payable by Denison pursuant to the Offer will be reduced by the amount of
any such dividend or other Distribution; and (b)&nbsp;in the case of any such cash dividend or other Distribution that in an aggregate amount exceeds the cash consideration per Share payable by
Denison pursuant to the Offer, or in the case of any non-cash dividend or other Distribution, the whole of any such dividend or other Distribution (and&nbsp;not simply the portion that exceeds the
Purchase Price payable by Denison under the Offer) will be received and held by the depositing Shareholder for the account of Denison and will be promptly remitted and transferred by the depositing
Shareholder to the Depositary for the account of Denison, accompanied by appropriate documentation of transfer. Pending such remittance and transfer, Denison will be entitled to all rights and
privileges as the owner of any such dividend or Distribution and may withhold the entire Purchase Price payable by Denison under the Offer or deduct from the consideration payable by Denison under the
Offer the amount or value thereof, as determined by Denison in its sole discretion. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
declaration or payment of any such Distribution may have tax consequences not discussed in Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Power of Attorney  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Shareholder accepting the Offer under the terms of the Letter of Transmittal (including by book-entry transfer) irrevocably
constitutes and appoints, effective at and after the time (the "</FONT><FONT SIZE=2><B>Effective Time</B></FONT><FONT SIZE=2>") that Denison takes up such Shareholder's Deposited Shares (which
Deposited Shares upon being taken up are, together with any Distributions thereon, hereinafter referred to as the "</FONT><FONT SIZE=2><B>Purchased Shares</B></FONT><FONT SIZE=2>"), Denison, each
director and officer of Denison and any other person designated by Denison in writing as the true and lawful agent, attorney, attorney-in-fact and proxy of such Shareholder with respect to such
Purchased Shares, with full power of substitution (such powers of attorney, being coupled with an interest, being irrevocable), in the name of and on behalf of such
Shareholder: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
register or record the transfer and/or cancellation of such Purchased Shares (including any Distributions to the extent consisting of securities) on the
appropriate registers maintained by or on behalf of&nbsp;Rockgate;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>for
so long as any such Purchased Shares are registered or recorded in the name of such Shareholder, to exercise any and all rights of such Shareholder
including, without limitation, the right to vote, to execute and deliver (provided the same is not contrary to applicable Laws), as and when requested by Denison, any and all instruments of proxy,
authorizations or consents in form and on terms satisfactory to Denison in respect of any or all Purchased Shares, to revoke any such instruments, authorizations or consents given prior to or after
the Effective Time, and to designate in any such instruments, authorizations or consents any person or persons as the proxyholder of such Shareholder in respect of such Purchased Shares for all
purposes including, without limitation, in connection with any meeting or meetings (whether annual, special or otherwise, or any adjournments or postponements thereof, including, without limitation,
any meeting to consider a Subsequent Acquisition Transaction) of holders of relevant securities of&nbsp;Rockgate;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
execute, endorse and negotiate, for and in the name of and on behalf of such Shareholder, any and all cheques or other instruments representing any
Distributions payable to or to the order of, or endorsed in favour of, such Shareholder;&nbsp;and </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>21</FONT></P>

<HR NOSHADE>
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<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
exercise any other rights of a shareholder with respect to such Purchased Shares (including any Distributions). </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Shareholder accepting the Offer under the terms of the Letter of Transmittal (including by book-entry transfer) revokes any and all other authority, whether as agent, attorney,
attorney-in-fact, proxy or otherwise, previously conferred or agreed to be conferred by such Shareholder at any time with respect to the Deposited Shares or any Distributions. Such depositing
Shareholder agrees that no subsequent authority, whether as agent, attorney, attorney-in-fact, proxy or otherwise will be granted with respect to the Deposited Shares or any Distributions by or on
behalf of the depositing Shareholder unless the Deposited Shares are not taken up and paid for in accordance with the terms of the Offer or are withdrawn in accordance with Section&nbsp;9 of the
Offer, "Withdrawal of Deposited Shares". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Shareholder accepting the Offer under the terms of the Letter of Transmittal (including by book-entry transfer) also agrees not to vote any of the Purchased Shares at any meeting
(whether annual, special or otherwise, or any adjournments or postponements thereof, including, without limitation, any meeting to consider a Subsequent Acquisition Transaction) of holders of relevant
securities of Rockgate and, except as may be agreed to by Denison in writing, not to exercise any of the other rights or privileges attached to the Purchased Shares, and agrees to execute and deliver
to Denison any and all instruments of proxy, authorizations, consents and directions in respect of all or any of the Purchased Shares, and agrees to designate or appoint in any such instruments of
proxy, authorizations, consents and directions the person or persons specified by Denison as the proxy or the proxy nominee or nominees of the holder of the Purchased Shares. Upon such appointment,
all prior proxies and other authorizations (including, without limitation, all appointments of any agent, attorney or attorney-in-fact) or consents given by the holder of such Purchased Shares with
respect thereto will be revoked and, except as may be agreed to by Denison in writing, no subsequent proxies or other authorizations, consents or directions may be given by such person with respect
thereto. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Further Assurances  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Shareholder accepting the Offer covenants under the terms of the Letter of Transmittal (including by book-entry transfer) to execute,
upon request of Denison, any additional documents, transfers and other assurances as may be necessary or desirable to complete the sale, assignment and transfer of the Purchased Shares to Denison.
Each authority therein conferred or agreed to be conferred is, to the extent permitted by applicable Laws, irrevocable and may be exercised during and shall survive any subsequent death or incapacity,
bankruptcy or insolvency of the Shareholder and all obligations of the Shareholder therein shall be binding upon the heirs, executors, administrators, attorneys, personal representatives, successors
and assigns of such Shareholder. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Formation of Agreement; Shareholder's Representations and Warranties  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The acceptance of the Offer pursuant to the procedures set out above constitutes a binding agreement between a depositing Shareholder
and Denison, effective immediately following the time at which Denison takes up Shares deposited by such Shareholder, in accordance with the terms and conditions of the Offer and the Letter of
Transmittal. This agreement includes a representation and warranty by the depositing Shareholder that: (a)&nbsp;the person signing the Letter of Transmittal or on whose behalf a book-entry transfer
is made has full power and authority to deposit, sell, assign and transfer the Deposited Shares and all rights and benefits arising from such Deposited Shares including, without limitation, any
Distributions; (b)&nbsp;the person signing the Letter of Transmittal or on whose behalf a book-entry transfer is made owns the Deposited Shares and any Distributions deposited under the Offer;
(c)&nbsp;the Deposited Shares and Distributions have not been sold, assigned or transferred, nor has any agreement been entered into to sell, assign or transfer any of the Deposited Shares or
Distributions, to any other person; (d)&nbsp;the deposit of the Deposited Shares and Distributions complies with applicable Laws; and (e)&nbsp;when the Deposited Shares and Distributions are taken
up and paid for by Denison, Denison will acquire good title thereto, free and clear of all liens, restrictions, charges, encumbrances, claims and rights of&nbsp;others. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conditions of the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of the Offer and subject to applicable Laws, and in addition to (and&nbsp;not in limitation of) Denison's right to vary or
change the Offer at any time prior to the Expiry Time pursuant to Section&nbsp;5 of the Offer, "Extension, Variation or Change in the Offer", Denison will have the right to withdraw or terminate the
Offer and not take up and pay for any Shares deposited under the Offer, and will have the right to extend the period of time during which the Offer is open for acceptance and postpone taking up and
paying for any Shares deposited under the Offer, if any of the following conditions are not satisfied or waived by Denison at or prior to the Expiry&nbsp;Time: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>there
shall have been validly deposited under the Offer and not withdrawn at the Expiry Time such number of Shares which constitutes (i)&nbsp;at least 90%
of the Shares outstanding at the Expiry Time on a fully-diluted basis and (ii)&nbsp;at least a majority of the outstanding Shares, the votes of which would be included in any minority approval of a
Subsequent Acquisition Transaction pursuant to MI 61-101 (the&nbsp;"</FONT><FONT SIZE=2><B>Minimum Tender Condition</B></FONT><FONT SIZE=2>");
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Mega Uranium Arrangement shall have been lawfully terminated in accordance with the terms of the Mega Uranium Arrangement Agreement and on terms
satisfactory to Denison in its sole discretion;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
shall have determined, acting reasonably, that:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>no
act, action, suit or proceeding shall have been threatened in writing or taken before or by any Governmental Entity or by any elected or appointed public
official or private person (including, without limitation, any individual, corporation, firm, group or other entity) in Canada or elsewhere, whether or not having the force of law;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>no
Law shall have been proposed, enacted, promulgated or applied, in any&nbsp;case:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(A)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
cease trade, enjoin, prohibit or impose material limitations or conditions on the purchase by or the sale to Denison of Shares, the right of Denison to
own or exercise full rights of ownership of Shares or the consummation of a Compulsory Acquisition or a Subsequent Acquisition Transaction;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(B)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>which,
if the Offer, any Compulsory Acquisition or any Subsequent Acquisition Transaction were consummated, could in Denison's reasonable judgement
constitute a Material Adverse Effect in respect of Rockgate;&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(C)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>which
would materially and adversely affect (i)&nbsp;the value of Shares to Denison, or (ii)&nbsp;the ability of Denison to proceed with the Offer, any
Compulsory Acquisition or any Subsequent Acquisition Transaction and/or taking up and paying for any Shares deposited under the&nbsp;Offer;
<BR><BR></FONT></DD></DL>
</DD></DL>
</DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>there
shall not exist any prohibition at Law against Denison making or maintaining the Offer or taking up and paying for any Shares deposited under the
Offer or completing any Compulsory Acquisition or any Subsequent Acquisition Transaction;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>all
government and regulatory approvals, waiting or suspensory periods, waivers, permits, consents, reviews, investigations, orders, certificates, rulings,
decisions, statements of no objection and exemptions, that are required by Law to complete the Offer or any Compulsory Acquisition or Subsequent Acquisition Transaction, shall have been obtained or
concluded or, in the case of waiting or suspensory periods, expired or been terminated, each on terms and conditions satisfactory to&nbsp;Denison; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>23</FONT></P>

<HR NOSHADE>
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<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(f)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>there
shall not exist any Law, nor shall any Law have been proposed, enacted, entered, promulgated, amended or applied, nor shall there be in effect,
pending or threatened any temporary restraining order, preliminary or permanent injunction or other order or decree issued by any Governmental Entity or other legal restraint or prohibition which
would have the effect of prohibiting, restricting, making illegal or imposing material limitations or conditions on the ownership or operation or effective control by Denison of any material portion
of the business or assets of Rockgate or its affiliates or subsidiaries or to compel Denison or its affiliates or subsidiaries to dispose of or hold separate any material portion of the business or
assets of Rockgate or any of its affiliates or subsidiaries as a result of the Offer or the completion of the Offer or any Compulsory Acquisition or Subsequent Acquisition Transaction;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(g)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
shall have determined, acting reasonably, that there shall not exist or have occurred (or, if there does exist or shall have occurred prior to the
commencement of the Offer, there shall not have been disclosed generally or to Denison in writing) any change (or&nbsp;any condition, event or development involving a prospective change) in the
business, operations, assets, capitalization, properties, financial condition, prospects, licences, permits, rights, privileges or liabilities of Rockgate or any subsidiary of Rockgate that, when
considered either individually or in the aggregate, constitutes a Material Adverse Effect in respect of&nbsp;Rockgate;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(h)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
nuclear accident or significant nuclear environmental incident at a nuclear facility should occur which, in either case, in the opinion of Denison, could
reasonably be expected to have a significant adverse effect on the market price or value of the&nbsp;Shares;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
shall not have become aware of any untrue statement of a material fact, or an omission to state a material fact that is required to be stated or
that is necessary to make a statement not misleading in light of the circumstances in which it was made and at the date it was made, (after giving effect to all subsequent filings in relation to all
matters covered in earlier filings) in any document filed or released by or on behalf of Rockgate with any securities regulatory authority in Canada or elsewhere, including any annual report,
financial statements, material change report, press release and management information circular, which Denison shall have determined in its reasonable judgment constitutes a Material Adverse Effect in
respect of&nbsp;Rockgate;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(j)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>there
shall have not occurred, developed or come into effect or existence any effect, action, state, condition or major financial occurrence of national or
international consequence or any law, regulation, action, government regulation, enquiry or other occurrence of any nature whatsoever which, in the opinion of Denison, acting reasonably, materially
adversely affects and will continue to materially adversely affect the financial markets in Canada or the United&nbsp;States;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(k)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Denison Shares to be issued pursuant to the Offer shall have been approved for listing on the TSX and the NYSE&nbsp;MKT;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(l)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
registration statement for the Denison Shares to be issued pursuant to the Offer shall have become effective under the U.S.&nbsp;Securities Act, and
no stop order suspending the effectiveness of the registration statement shall have been issued nor shall there have been any proceeding for that purpose initiated or threatened by the SEC and we
shall have received all necessary state securities law or blue sky authorizations;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(m)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>(i)
the board of directors of Rockgate shall have redeemed all outstanding rights or waived the application of the Shareholder Rights Plan to the purchase
of Shares by Denison under the Offer, a Compulsory Acquisition and/or any Subsequent Acquisition Transaction; or (ii)&nbsp;Denison shall have determined that the shareholder rights plan does not and
will not materially adversely affect the Offer or have a Material Adverse Effect either before, or upon consummation of, the Offer, a Compulsory Acquisition or any Subsequent Acquisition Transaction;
or (iii)&nbsp;a cease trading order or an injunction shall have been issued by the applicable regulatory authorities that has the effect of prohibiting or preventing the exercise of the rights or
the issue of Shares upon the exercise of the rights in relation to </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>24</FONT></P>

<HR NOSHADE>
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<UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>the
Offer, a Compulsory Acquisition and/or any Subsequent Acquisition Transaction, which cease trading order or injunction shall be in full force and effect; or (iv)&nbsp;a court of competent
jurisdiction shall have made a final and non-appealable order that the rights are illegal, invalid, of no force or effect or may not be exercised in relation to the Offer, a Compulsory Acquisition or
any Subsequent Acquisition Transaction; or (v)&nbsp;the shareholder rights plan and the rights shall otherwise have been held unexercisable or unenforceable in relation to the purchase by us of
the&nbsp;Shares;  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(n)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Lock-Up Agreements between Denison and the Locked-Up Shareholders shall not have been terminated or breached by the Locked-Up Shareholders and the
enforceability or performance of the Lock-Up Agreements (or&nbsp;any one of them) shall not have been enjoined or otherwise prevented or prohibited by any Laws, regulator or court;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(o)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
shall have determined that a Restricted Event shall not have&nbsp;occurred. </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Restricted Event</B></FONT><FONT SIZE=2>" means, with respect to Rockgate and its subsidiaries, any of the&nbsp;following:</FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the issuance, sale or authorization of any additional Shares, shares of any other class or series of capital of Rockgate,
other voting securities or any securities convertible into, or options, rights (other than rights issued pursuant to the Shareholder Rights Plan adopted by Rockgate) or warrants, conditional or
otherwise, to acquire, any of the foregoing (except upon the exercise of options in accordance with their terms), or any other securities or rights in respect of, in lieu of, or in substitution or
exchange for any shares in Rockgate's capital; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>declaring, paying, authorizing or making any distribution, payment or dividend on any of Rockgate's securities, except for
the required payment of principal or interest on Rockgate's debt securities outstanding on the date hereof in accordance with their terms reflected in Rockgate's consolidated interim financial report
as of and for the year ended June&nbsp;30,&nbsp;2013; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any amendment to the notice of articles or articles of Rockgate; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>acquiring, disposing of, pledging or transferring any material assets or securities (except in the ordinary course of
business consistent with past&nbsp;practice); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>making any material capital expenditures (except in the ordinary course of business consistent with past&nbsp;practice); </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>adopting, amending, varying, modifying or taking any other action with respect to any bonus, profit sharing, incentive,
salary or other compensation, equity based award, pension, retirement, deferred compensation, severance, change in control, employment or other employee benefit plan, agreement, trust, fund or
arrangement for the benefit or welfare of any officer, director or employee, or similar rights or other benefits except for (A)&nbsp;awards under such plans for officers, directors and employees
currently in existence and publicly disclosed, which are made in the ordinary course of business consistent with past practice or (B)&nbsp;actions with respect to bonuses, salary or other
compensation in the ordinary course of business consistent with past&nbsp;practice; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>(A) incurring or committing to incur any material indebtedness for borrowed money or issuing any debt securities, except
for borrowings in the ordinary course of business consistent with past practice under existing credit facilities, (B)&nbsp;incurring or committing to incur, or guaranteeing, endorsing or otherwise
becoming responsible for, any other material liability, obligation or indemnity or the obligation of any other person, or (C)&nbsp;making any loans or advances to persons other than wholly-owned
subsidiaries, except in the ordinary course of business consistent with past&nbsp;practice; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>paying, discharging or satisfying any material claims, liabilities or obligations other than the payment, discharge or
satisfaction, in the ordinary course of business consistent with past practice in accordance with their terms, of claims, liabilities or obligations reflected or reserved against in Rockgate's
consolidated financial statements as of and for the year ended June&nbsp;30, 2013 or incurred in the ordinary course of business consistent with past&nbsp;practice; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>25</FONT></P>

<HR NOSHADE>
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<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>waiving, releasing, granting, transferring, exercising or amending any rights of material value or modifying or changing
in any material respect (A)&nbsp;any existing material contractual rights in respect of any material joint ventures or material properties, projects or rights of any kind, or (B)&nbsp;any other
material license, lease, permit, authorization, concession, contract or other document other than in the ordinary course of business consistent with past practice, and only if so doing would not have
a Material Adverse&nbsp;Effect; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any default, termination, acceleration or other event under any material instrument or agreement to which Rockgate or any
of its subsidiaries is a party or by which any of their respective properties or assets are bound which would have a Material Adverse Effect whether such event shall have occurred as a result of us
making the Offer, the taking up and paying for Shares under the Offer, the completion of a Compulsory Acquisition or a Subsequent Acquisition Transaction or for any other reason (other than a default
under Rockgate's term loan facility or credit agreement or any other agreement filed on Rockgate's SEDAR profile as of the date of this document which shall have occurred as a result of us making the
Offer), taking up and paying for Rockgate Shares under the Offer or completing a Compulsory Acquisition or a Subsequent Acquisition Transaction; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>entering into or completing (A)&nbsp;any material transaction not in the ordinary course of business, or
(B)&nbsp;other than with us or any of our affiliates subsequent to the date of the Offer, any exchange offer, merger, amalgamation, plan of arrangement, reorganization, consolidation, business
combination, reverse take-over, sale of all or substantially all of its assets, recapitalization, dissolution, winding up or similar transaction; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the authorization by the board of directors of Rockgate or Rockgate's shareholders or of any subsidiary of Rockgate of any
of the foregoing;&nbsp;or </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the entering into of any agreement to do any of the foregoing. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing conditions are for the exclusive benefit of Denison and may be asserted by Denison regardless of the circumstances giving rise to any such assertion, including any action
or inaction by&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
precluded from doing so by applicable Laws, Denison may, in its sole discretion, waive any of these conditions in whole or in part on our behalf, without prejudice to any other
rights which Denison may have. Each of the foregoing conditions is independent of and in addition to each other and may be asserted irrespective of whether any other of such conditions may be asserted
in connection with any particular event, occurrence or state of facts or otherwise. Any determination by Denison concerning any condition or relevant event shall be final and binding on all parties.
The failure by Denison at any time to exercise any of
the foregoing rights shall not be deemed a waiver of any right and each right shall be deemed a continuing right that may be asserted at any time and from time to time until the Expiry&nbsp;Time. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
waiver of a condition or the termination or withdrawal of the Offer will be effective upon written notice (or&nbsp;other communication subsequently confirmed in writing, provided
that such confirmation is not a condition of the effectiveness of the notice) by Denison to that effect to the Depositary at its principal office in Toronto, Ontario. Forthwith after giving any such
notice, Denison will make a public announcement of such waiver, termination or withdrawal and will cause the Depositary, if required by applicable Laws, as soon as practicable thereafter to
communicate such notice in the manner set forth in Section&nbsp;10 of the Offer, "Notices and Delivery", to all registered Shareholders and to all holders of Options. If the Offer is withdrawn,
Denison will not be obligated to take up or pay for any Shares deposited under the Offer and the Depositary will promptly return all Deposited Shares in accordance with Section&nbsp;7 of the Offer,
"Return of Deposited Shares". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Extension, Variation or Change in the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Offer is open for acceptance from the date of the Offer until the Expiry Time, subject to extension or variation in Denison's sole discretion, unless the
Offer is withdrawn by&nbsp;Denison. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
reserves the right, in its sole discretion, at any time and from time to time while the Offer is open for acceptance (or&nbsp;at any other time if permitted by applicable
Laws), to extend the Expiry Time or to vary the </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>Offer
by giving written notice (or&nbsp;other communication subsequently confirmed in writing, provided that such confirmation is not a condition of the effectiveness of the notice) of such
extension or variation to the Depositary at its principal office in Toronto, Ontario, and by causing the Depositary, if required by applicable Laws, as soon as practicable thereafter to communicate
such notice in the manner set forth in Section&nbsp;10 of the Offer, "Notices and Delivery", to all registered Shareholders whose Shares have not been taken up prior to the extension or variation
and to all holders of Options. Denison shall, as soon as practicable after giving notice of an extension or variation to the Depositary, make a public announcement of the extension or variation to the
extent and in the manner required by applicable Laws. Any notice of extension or variation will be deemed to have been given and to be effective on the day on which it is delivered or otherwise
communicated in writing to the Depositary at its principal office in Toronto, Ontario. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
may extend the Expiry Time if all of the conditions to the Offer have been satisfied, after having taken up all of the Shares tendered to the Offer, in order to permit other
Shareholders to deposit their Shares to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where
the terms of the Offer are varied, the Offer will not expire before ten days after the notice of such variation has been given to the Shareholders, unless otherwise permitted by
applicable Laws and subject to abridgement or elimination of that period pursuant to such orders or other forms of relief as may be granted by any Governmental Entity. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
prior to the Expiry Time or after the Expiry Time but before the expiry of all rights of withdrawal with respect to the Offer, a change occurs in the information contained in the
Offer or the Circular, as amended from time to time, that would reasonably be expected to affect the decision of a Shareholder to accept or reject the Offer (other than a change that is not within the
control of Denison or of an affiliate of Denison unless it is a change in a material fact relating to the Denison Shares), Denison will promptly: (a)&nbsp;make a public announcement of the change in
information to the extent and in the manner required by applicable Laws; and (b)&nbsp;give written notice of such change to the Depositary at its principal office in Toronto, Ontario, and will cause
the Depositary, if required by applicable Laws, as soon as practicable thereafter to provide notice of such change in the manner set forth in Section&nbsp;10 of the Offer, "Notices and Delivery", to
all registered Shareholders whose Shares have not been taken up under the Offer at the date of the occurrence of the change and to all holders of Options. Any notice of change in information will be
deemed to have been given and to be effective on the day on which it is delivered or otherwise communicated in writing to the Depositary at its principal office in Toronto, Ontario. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, but subject to applicable Laws, the Offer may not be extended by Denison if all of the terms and conditions of the Offer, except those waived by Denison,
have been fulfilled or complied with, unless Denison first takes up all Shares deposited under the Offer and not&nbsp;withdrawn. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
any extension or in the event of any variation of the Offer or change in information, all Shares previously deposited and not taken up or withdrawn will remain subject to the
Offer and may be taken up by Denison in accordance with the terms hereof, subject to Section&nbsp;8 of the Offer, "Withdrawal of Deposited Shares". An extension of the Expiry Time, a variation of
the Offer or a change in information does not, unless otherwise expressly stated, constitute a waiver by Denison of its rights under Section&nbsp;4 of the Offer, "Conditions of the&nbsp;Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
prior to the Expiry Time, the consideration being offered for the Shares under the Offer is increased, such increased consideration will be paid to all depositing Shareholders whose
Shares are taken up under the Offer, whether or not such Shares were taken up before the&nbsp;increase. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Take-Up of and Payment for Deposited Shares  </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If all of the conditions described in Section&nbsp;4 of the Offer, "Conditions of the Offer", have been fulfilled or waived by Denison at or prior to the Expiry
Time, Denison will take up and pay for Shares validly deposited under the Offer and not properly withdrawn as soon as reasonably practicable, and in any event not later than </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>27</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>three
business days following the time at which Denison becomes entitled to take up Shares under the Offer and pursuant to applicable&nbsp;Laws. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
will be deemed to have taken up and accepted for payment Shares validly deposited and not properly withdrawn under the Offer if, as and when Denison gives written notice
(or&nbsp;other communication subsequently confirmed in writing, provided that such confirmation is not a condition of the effectiveness of the notice) to that effect to the Depositary at its
principal office in Toronto, Ontario. Subject to applicable Laws, Denison expressly reserves the right, in its sole discretion, to delay taking up and paying for any Shares or to, on or after the
initial Expiry Time, withdraw or terminate the Offer and not take up or pay for any Shares, if any condition specified in Section&nbsp;4 of the Offer, "Conditions of the Offer", is not fulfilled or
waived by giving written notice (or&nbsp;other communication subsequently confirmed in writing, provided that such confirmation is not a condition of the effectiveness of the notice) to that effect
to the Depositary at its principal office in Toronto, Ontario. Denison also expressly reserves the right, in its sole discretion, to delay taking up and paying for any Shares in order to comply, in
whole or in part, with any applicable Laws or governmental regulatory approval. Denison will not, however, take up and pay for any Shares deposited under the Offer unless it simultaneously takes up
and pays for all Shares then validly deposited under the Offer and not&nbsp;withdrawn. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
will pay for Shares validly deposited under the Offer and not withdrawn by providing the Depositary with sufficient DRS Advices representing Denison Shares for transmittal to
depositing Shareholders. Under no circumstances will interest accrue, or be paid by Denison or the Depositary to persons depositing Shares, on the Purchase Price of Shares purchased by Denison,
regardless of any delay in making payments for&nbsp;Shares. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Depositary will act as the agent of persons who have deposited Shares in acceptance of the Offer for the purposes of receiving payment from Denison and transmitting such payment to
such persons, and receipt of payment by the Depositary will be deemed to constitute receipt of payment by persons depositing Shares under the&nbsp;Offer. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlement
with each Shareholder who has deposited (and&nbsp;not withdrawn) Shares under the Offer will be made by the Depositary forwarding a DRS Advice representing the number of
Denison Shares to which the person depositing Shares is entitled (or, in the case of Shares deposited by book-entry transfer, crediting the applicable number of Denison Shares to the account at CDS or
DTC, as applicable, from which such book-entry transfer was&nbsp;made). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise directed in the Letter of Transmittal, the DRS Advice (or, in the case of Shares deposited by book-entry transfer, the credit of Denison Shares), as applicable, will be
issued in the name of the registered holder of the Shares so deposited. Unless the person depositing the Shares instructs the Depositary to hold the DRS Advice (except in the case of Shares deposited
by book-entry transfer), as applicable, for pick-up by checking the appropriate box in the Letter of Transmittal, the DRS Advice (except in the case of Shares deposited by book-entry transfer), as
applicable, will be forwarded by first class mail to such person at the address specified in the Letter of Transmittal. If no such address is specified, the DRS
Advice (except in the case of Shares deposited by book-entry transfer), as applicable, will be sent to the address of the registered holder as shown on the securities register maintained by or on
behalf of Rockgate. DRS Advices mailed in accordance with this paragraph will be deemed to be delivered at the time of mailing. Pursuant to applicable Laws, Denison may, in certain circumstances, be
required to make withholdings from the amount otherwise payable to a&nbsp;Shareholder. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Shareholders will not be required to pay any fee or commission if they accept the Offer by depositing their Shares directly with
the&nbsp;Depositary.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return of Deposited Shares  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Deposited Shares that are not taken up and paid for by Denison pursuant to the terms and conditions of the Offer for any reason will be returned, at Denison's
expense, to the depositing Shareholder as soon as practicable after the Expiry Time or withdrawal or termination of the Offer by either: (a)&nbsp;sending certificates or </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>28</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_di40303_1_29"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>DRS
Advices representing the Shares not purchased by first class insured mail to the address of the depositing Shareholder specified in the Letter of Transmittal or, if such name or address is not so
specified, in such name and to such address as shown on the securities register maintained by or on behalf of Rockgate; or (b)&nbsp;in the case of Shares deposited by book-entry transfer, pursuant
to the procedures set out in Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer", crediting such Shares to the account at
CDS or DTC, as applicable, from which such book-entry transfer was&nbsp;made. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withdrawal of Deposited Shares  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise stated in this Section&nbsp;8 or&nbsp;as otherwise required by applicable Laws, all deposits of Shares under the Offer are irrevocable.
Unless otherwise required or permitted by applicable Laws, any Shares deposited in acceptance of the Offer may be withdrawn by or on behalf of the depositing Shareholder: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>at
any time before such Shares have been taken up by Denison under the&nbsp;Offer;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if
such Shares have not been paid for by Denison within three business days after having been taken up;&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>at
any time before the expiration of ten days from the date upon which&nbsp;either:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
notice of change relating to a change which has occurred in the information contained in the Offer or the Circular, as amended from time to time, that
would reasonably be expected to affect the decision of a Shareholder to accept or reject the Offer (other than a change that is not within the control of Denison or of an affiliate of Denison unless
it is a change in a material fact relating to the Denison Shares), in the event that such change occurs before the Expiry Time or after the Expiry Time but before the expiry of all rights of
withdrawal in respect of the Offer;&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
notice of variation concerning a variation in the terms of the Offer (other than a variation consisting solely of an increase in the consideration
offered for Shares where the Expiry Time is not extended for more than ten days from after the date of the notice of&nbsp;variation), </FONT></DD></DL>
</DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>is
mailed, delivered or otherwise properly communicated (subject to abridgement of that period pursuant to such order or orders or other forms of relief as may be granted by applicable Governmental
Entities) and only if such deposited Shares have not been taken up by Denison at the date of the&nbsp;notice. </FONT></P>

</UL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withdrawals
of Shares deposited under the Offer must be effected by notice of withdrawal made by or on behalf of the depositing Shareholder and must be actually received by the
Depositary at the place of deposit of the applicable Shares (or&nbsp;Notice of Guaranteed Delivery in respect thereof) within the time limits indicated above. Notices of withdrawal must
(a)&nbsp;be made by a method, including facsimile transmission, that provides the Depositary with a written or printed copy, (b)&nbsp;be signed by or on behalf of the person who signed the Letter
of Transmittal accompanying (or&nbsp;the Notice of Guaranteed Delivery in respect of) the Shares which are to be withdrawn, and (c)&nbsp;specify such person's name, the number of Shares to be
withdrawn, the name of the registered holder and the certificate number shown on each certificate or the account number shown on each DRS Advice, as applicable, representing the Shares to be
withdrawn. Any signature in a notice of withdrawal must be guaranteed by an Eligible Institution in the same manner as in a Letter of Transmittal (as&nbsp;described in the instructions set out
therein), except in the case of Shares deposited for the account of an Eligible Institution. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alternatively,
if Shares have been deposited pursuant to the procedures for book-entry transfer, as set out in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer", any notice of withdrawal must specify the name and number of the account at CDS or DTC, as applicable, to be
credited with the withdrawn Shares and otherwise comply with the procedures of CDS or DTC, as&nbsp;applicable. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>A withdrawal of Shares deposited under the Offer can only be accomplished in accordance with the foregoing procedures. The withdrawal will take effect only upon
actual receipt by the Depositary of a properly completed and executed written notice of&nbsp;withdrawal.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>29</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Investment advisors, stockbrokers, banks, trust companies or other nominees may set deadlines for the withdrawal of Shares deposited under the Offer that are
earlier than those specified above. Shareholders whose Shares are registered in the name of an investment advisor, stockbroker, bank, trust company or other nominee should contact such nominee
for&nbsp;assistance.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
questions as to the validity (including, without limitation, timely receipt) and form of notices of withdrawal will be determined by Denison, in its sole discretion, and such
determination will be final and binding. None of Denison, the Depositary or the Information Agent or any other person shall be under any duty or obligation to give notice of any defect or irregularity
in any notice of withdrawal and no liability shall be incurred or suffered by any of them for failure to give such&nbsp;notice. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Denison extends the period of time during which the Offer is open, is delayed in taking up or paying for Shares or is unable to take up or pay for Shares for any reason, then, without
prejudice to Denison's other rights, Shares deposited under the Offer may, subject to applicable Laws, be retained by the Depositary on behalf of Denison and such Shares may not be withdrawn except to
the extent that depositing Shareholders are entitled to withdrawal rights as set forth in this Section&nbsp;8 or&nbsp;pursuant to applicable&nbsp;Laws. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Withdrawals
cannot be rescinded and any Shares withdrawn will be deemed not validly deposited for the purposes of the Offer, but may be re-deposited at any subsequent time prior to the
Expiry Time by following any of the procedures described in Section&nbsp;3 of the Offer, "Manner of&nbsp;Acceptance". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to the foregoing rights of withdrawal, Shareholders in the provinces and territories of Canada are entitled to one or more statutory rights of rescission, price revision or
to damages in certain circumstances. See Section&nbsp;26 of the Circular, "Statutory Rights". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in Capitalization; Adjustments; Liens  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, on or after the date of the Offer, Rockgate should divide, combine, reclassify, consolidate, convert or otherwise change any of the Shares or its
capitalization, issue any Shares, issue, grant or sell any Options or
other convertible securities, or disclose that it has taken or intends to take any such action, then Denison may, in its sole discretion and without prejudice to its rights under Section&nbsp;4 of
the Offer, "Conditions of the Offer", make such adjustments as it considers appropriate to the Purchase Price and other terms of the Offer (including, without limitation, the type of securities
offered to be purchased and the amount payable therefor) to reflect such division, combination, reclassification, consolidation, conversion, issuance, grant, sale or other change. See Section&nbsp;5
of the Offer, "Extension, Variation or Change in the&nbsp;Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
acquired under the Offer will be transferred by the Shareholder and acquired by Denison free and clear of all liens, restrictions, charges, encumbrances, claims and equities,
whether or not separated from&nbsp;Shares. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>10.&nbsp;&nbsp;&nbsp;Notices and Delivery  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without limiting any other lawful means of giving notice, and unless otherwise specified by applicable Laws, any notice to be given by Denison or the Depositary
under the Offer will be deemed to have been properly given if it is mailed by first class mail, postage prepaid, to registered Shareholders and to registered holders of Options at their respective
addresses as shown on the securities registers maintained by or on behalf of Rockgate in respect of the Shares (or&nbsp;Options, as applicable) and, unless otherwise specified by applicable Laws,
will be deemed to have been received on the first business day following the date of mailing. For this purpose, "</FONT><FONT SIZE=2><B>business day</B></FONT><FONT SIZE=2>" means any day other than
a Saturday, Sunday or statutory holiday in the jurisdiction to which the notice is mailed. These provisions apply notwithstanding any accidental omission to give notice to any one or more
securityholders and notwithstanding any interruption of mail services following mailing. Except as otherwise required or permitted by applicable Laws, if mail service is interrupted or delayed
following mailing, Denison intends to make reasonable efforts to disseminate the notice by other means, such as news wire services or publication. Except as otherwise required or permitted by
applicable Laws, if post offices in Canada are not open for the deposit of mail, any notice which Denison or the Depositary may give or cause to be given to securityholders under the Offer will be
deemed to have been properly given and to have been received by </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>30</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>securityholders
if it is given to the TSX for dissemination through its facilities or it is published once in the national edition of </FONT><FONT SIZE=2><I>The Globe and Mail</I></FONT><FONT SIZE=2>
or </FONT><FONT SIZE=2><I>The National Post</I></FONT><FONT SIZE=2>, or it is given to the Canada News Wire Service for dissemination through its&nbsp;facilities. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Offer and Circular and the accompanying Letter of Transmittal and Notice of Guaranteed Delivery will be mailed to registered Shareholders and to registered holders of Options by
first class mail, postage prepaid, or made available in such other manner as is permitted by applicable Laws and Denison will use its reasonable efforts to furnish such documents to investment
advisors, stockbrokers, banks, trust companies and similar persons whose names, or the names of whose nominees, appear on the securities registers maintained by or on behalf of Rockgate in respect of
the Shares or, if security position listings are available,
who are listed as participants in a clearing agency's security position listing, for subsequent transmittal to the beneficial owners of&nbsp;Shares. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
securityholder materials are being sent to both registered and non-registered owners of securities. If you are a non-registered owner and Denison or its agent has sent these
materials directly to you, your name and address and information about your holdings of securities have been obtained in accordance with applicable regulatory requirements from the intermediary
holding such securities on your&nbsp;behalf. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wherever
the Offer calls for documents to be delivered to the Depositary, such documents will not be considered delivered unless and until they have been physically received at the
address of the Depositary specified in the Letter of Transmittal or the Notice of Guaranteed Delivery, as&nbsp;applicable. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>11.&nbsp;&nbsp;&nbsp;Mail Service Interruption  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of the Offer, the Circular, the Letter of Transmittal and the Notice of Guaranteed Delivery, share certificates, DRS Advices and
any other relevant documents will not be mailed if Denison determines that delivery thereof by mail may be delayed. Persons entitled to share certificates, DRS Advices or any other relevant documents
which are not mailed for the foregoing reason may take delivery thereof at the office of the Depositary to which the deposited Shares were delivered until such time as Denison has determined that
delivery by mail will no longer be delayed. Denison shall provide notice of any such determination to not mail made under this Section&nbsp;11 as soon as reasonably practicable after the making of
such determination and such notice will be deemed to have been properly given and to have been received by Shareholders if it is given in accordance with Section&nbsp;10 of the Offer, "Notices and
Delivery". Notwithstanding Section&nbsp;6 of the Offer, "Take-Up of and Payment for Deposited Shares", DRS Advices or any other relevant documents not mailed for the reason set forth in the first
sentence of this Section&nbsp;11 will be conclusively deemed to have been delivered to a Shareholder on the first day upon which they are available for delivery to the depositing Shareholder at the
Toronto, Ontario office of the&nbsp;Depositary. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>12.&nbsp;&nbsp;&nbsp;Market Purchases  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison reserves the right to, and may, acquire or cause an affiliate to acquire beneficial ownership of Shares by making purchases through the facilities of the
TSX at any time, and from time to time, prior to the Expiry Time subject to and in accordance with applicable Laws. In no event, however, will Denison (or&nbsp;its affiliates) make any such
purchases of Shares until the third business day following the date of the Offer and Denison shall comply with the following requirements under Section&nbsp;2.2(3) of MI 62-104, Section&nbsp;2.1
of OSC Rule&nbsp;62-504 and Section&nbsp;93.1 of the OSA in the event it decides to make any such&nbsp;purchases: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>such
intention shall be stated in a news release issued and filed at least one business day prior to making such&nbsp;purchases;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
aggregate number of Shares beneficially acquired shall not exceed 5% of the outstanding Shares as of the date of the Offer, calculated in accordance
with applicable&nbsp;Laws;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
purchases shall be made in the normal course through the facilities of the&nbsp;TSX; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>31</FONT></P>

<HR NOSHADE>
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<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
shall issue and file&nbsp;a news release containing the information required under applicable Laws immediately after the close of business of the
TSX on each day on which Shares have been purchased;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
broker involved in such trades shall provide only customary broker services and receive only customary fees or commissions, and no solicitation for the
sale or purchase of Shares shall be made by Denison or its agents (other than under the Offer) or the seller or its&nbsp;agents. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases
pursuant to Section&nbsp;2.2(3) of MI 62-104 or Section&nbsp;2.1 of OSC Rule&nbsp;62-504 and Section&nbsp;93.1 of the OSA will be counted in any determination as to
whether the Minimum Tender Condition has been&nbsp;fulfilled. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
Denison has no present intention to sell Shares taken up under the Offer, Denison reserves the right to make or enter into agreements, commitments or understandings at or prior
to the Expiry Time to sell any of such Shares after the Expiry Time, subject to compliance with applicable Laws and to Section&nbsp;2.7(2) of MI 62-104 or Section&nbsp;93.4(2) of the OSA,
as&nbsp;applicable. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the purposes of this Section&nbsp;12, "Denison" includes any person acting jointly or in concert with&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>13.&nbsp;&nbsp;&nbsp;Other Terms of the Offer  </B></FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>The
Offer and all contracts resulting from acceptance thereof shall be governed by and construed in accordance with the laws of the Province of British
Columbia and the federal laws of Canada applicable therein. Each party to any agreement resulting from the acceptance of the Offer unconditionally and irrevocably attorns to the exclusive jurisdiction
of the courts of the Province of British Columbia and all courts competent to hear appeals therefrom.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>No
broker, dealer, salesperson or other person has been authorized to give any information or make any representation other than those contained herein or
in the accompanying Circular, and, if given or made, such information or representation must not be relied upon as having been authorized by Denison, the Depositary or the Information Agent. No
broker, dealer, salesperson or other person shall be deemed to be the agent of Denison, the Depositary or the Information Agent for the purposes of the&nbsp;Offer.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>The
provisions of the Glossary, the Summary, the Circular and the Letter of Transmittal and the Notice of Guaranteed Delivery accompanying the Offer,
including the instructions and rules contained therein, as applicable, form part of the terms and conditions of the&nbsp;Offer.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison,
in its sole discretion, shall be entitled to make a final and binding determination of all questions relating to the interpretation of the Offer
(including, without limitation, the satisfaction of the conditions of the Offer), the Glossary, the Summary, the Circular, the Letter of Transmittal and the Notice of Guaranteed Delivery, the validity
of any acceptance of the Offer and the validity of any withdrawals of&nbsp;Shares.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>The
Offer and Circular do not constitute an offer or a solicitation to any person in any jurisdiction in which such offer or solicitation is unlawful. The
Offer is not being made to, nor will deposits be accepted from or on behalf of, Shareholders residing in any jurisdiction in which the making or the acceptance of the Offer would not be in compliance
with the Laws of such jurisdiction. However, Denison may, in Denison's sole discretion, take such action as Denison may deem necessary to make the Offer in any jurisdiction and extend the Offer to
Shareholders in any such jurisdiction. In any jurisdiction in which the Offer is required to be made by a licensed broker or dealer, the Offer shall be made on behalf of Denison by brokers or dealers
licensed under the Laws of such jurisdiction. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>The
Offer and the accompanying Circular together constitute the take-over bid circular required under Canadian securities legislation with respect to the Offer. Shareholders are urged to refer to the
accompanying Circular for additional information relating to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Dated:
September&nbsp;19, 2013 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> DENISON MINES CORP.  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>(signed) "</FONT><FONT SIZE=2>RON F. HOCHSTEIN</FONT><FONT SIZE=2>"<BR>
Ron F. Hochstein<BR>
President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>32</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dk40303_circular"> </A>
<A NAME="toc_dk40303_1"> </A>
<BR></FONT><FONT SIZE=3><B>CIRCULAR    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>The following information is supplied by Denison with respect to the accompanying Offer dated
September&nbsp;19, 2013 to purchase all of the issued and outstanding Shares and SRP Rights. The terms and conditions of the Offer, the Letter of Transmittal and the Notice of Guaranteed Delivery
are incorporated into and form part of this Circular. Shareholders should refer to the Offer for details of the terms and conditions of the Offer, including details as to payment and withdrawal
rights. Capitalized terms used in the Circular, but not otherwise defined herein, have the meanings set out in the accompanying Glossary unless the context otherwise requires.</I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Except as otherwise indicated herein, the information concerning Rockgate contained in this Circular has been taken from or is based upon publicly available
information filed with the Canadian securities regulators and other public sources available as at September&nbsp;18, 2013. Rockgate has not reviewed the Offer and Circular and has not confirmed the
accuracy and completeness of the information in respect of Rockgate contained herein. Neither Denison nor any persons acting jointly or in concert with Denison nor any of the directors or officers of
Denison or such persons, assumes any responsibility for the accuracy or completeness of such information or any failure by Rockgate to disclose events or facts which may have occurred or which may
affect the significance or accuracy of any such information but which are unknown to Denison or such persons. Except as otherwise indicated herein, Denison has no means of verifying the accuracy or
completeness of any of the information contained herein that
is derived from Rockgate's publicly available information or whether there has been any failure by Rockgate to disclose events or facts that may have occurred or may affect the significance or
accuracy of any information.</I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison Mines Corp.  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Company Overview  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison is engaged in uranium exploration and development. Denison was formed by articles of amalgamation as, International Uranium
Corporation ("</FONT><FONT SIZE=2><B>IUC</B></FONT><FONT SIZE=2>"), effective May&nbsp;9, 1997 pursuant to the </FONT><FONT SIZE=2><I>Business Corporations Act</I></FONT><FONT SIZE=2> (Ontario)
(the&nbsp;"</FONT><FONT SIZE=2><B>OBCA</B></FONT><FONT SIZE=2>"). On December&nbsp;1, 2006, IUC combined its business and operations with Denison Mines&nbsp;Inc.
("</FONT><FONT SIZE=2><B>DMI</B></FONT><FONT SIZE=2>"), by way of arrangement under the OBCA (the&nbsp;"</FONT><FONT SIZE=2><B>IUC Arrangement</B></FONT><FONT SIZE=2>"). Pursuant to the IUC
Arrangement, all of the issued and outstanding shares of DMI were acquired in exchange for IUC's shares. Effective December&nbsp;1, 2006, IUC's articles were amended to change its name to "Denison
Mines Corp." Prior to July&nbsp;2012, Denison was engaged in the exploration, development, mining, and milling of uranium and vanadium, with projects in the United&nbsp;States, Canada, Zambia and
Mongolia. At the time, Denison's principal assets included 100% ownership of the White Mesa Mill in Utah and 22.5% ownership of the McClean Lake uranium mill in Saskatchewan. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June&nbsp;29, 2012, Denison sold its shares in certain subsidiaries, which owned all of the Company's mining assets and operations located in the United&nbsp;States
("</FONT><FONT SIZE=2><B>U.S.&nbsp;Mining Division</B></FONT><FONT SIZE=2>"). The sale was carried out by way of a plan of arrangement between Denison and Energy Fuels&nbsp;Inc.
("</FONT><FONT SIZE=2><B>EFR</B></FONT><FONT SIZE=2>"). After completing the various steps in the plan of arrangement, Denison shareholders retained their interest in Denison and received
1.106&nbsp;common shares of EFR for each Share held in Denison. By completing the transaction with EFR, Denison has transformed its business so as to focus on its uranium exploration and development
projects in Saskatchewan, Zambia and&nbsp;Mongolia. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
April&nbsp;26, 2013 Denison acquired a portfolio of uranium exploration projects held by Fission Energy Corp. ("</FONT><FONT SIZE=2><B>Fission</B></FONT><FONT SIZE=2>"), including
Fission's 60% interest in the Waterbury Lake uranium project, as well as Fission's exploration interests in all other properties in the eastern part of the Athabasca Basin, Quebec and Nunavut, plus
its interest in two joint ventures in Namibia. The transaction was completed pursuant to a plan of arrangement (the&nbsp;"</FONT><FONT SIZE=2><B>Fission Arrangement</B></FONT><FONT SIZE=2>") under
applicable corporate law. Under the Fission Arrangement, Denison acquired all of the outstanding common shares of Fission (the&nbsp;"</FONT><FONT SIZE=2><B>Fission Shares</B></FONT><FONT SIZE=2>")
with Fission spinning out certain assets into a newly-incorporated exploration company, Fission Uranium Corp. ("</FONT><FONT SIZE=2><B>Fission Uranium</B></FONT><FONT SIZE=2>"). Under the
Arrangement, each Fission Share was exchanged for 0.355 of a common share of Denison, a nominal cash payment of $0.0001 and one (1)&nbsp;common share of Fission Uranium. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>33</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
also continues to be engaged in mine decommissioning and environmental services through its Denison Environmental Services ("</FONT><FONT SIZE=2><B>DES</B></FONT><FONT SIZE=2>")
division. Denison's wholly owned subsidiary, DMI, is also the manager of Uranium Participation Corporation, a publicly traded company listed on the TSX under the symbol "U", which invests in uranium
oxide in concentrates and uranium hexafluoride. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
is a reporting issuer in all of the Canadian provinces. The Denison Shares are listed on the Toronto Stock Exchange ("</FONT><FONT SIZE=2><B>TSX</B></FONT><FONT SIZE=2>") under
the symbol "DML" and on the NYSE MKT under the symbol "DNN" and Denison's market capitalization was approximately $549&nbsp;million as of the close of trading on September&nbsp;16,
2013. The registered and head office of Denison is located at Atrium on Bay, Suite&nbsp;402, 595&nbsp;Bay Street, Toronto, Ontario, M5G&nbsp;2C2,&nbsp;Canada. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of the date hereof, no Shares or Options are beneficially owned, nor is control or direction exercised over, any of such securities, by&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
further information regarding Denison's business, properties, exploration projects and mineral reserves and mineral resources, please see Denison's Annual Information Form for the
financial year ended December&nbsp;31, 2012, dated March&nbsp;13, 2013 and filed on SEDAR on April&nbsp;9, 2013, which is incorporated herein by&nbsp;reference. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockgate Capital Corp.  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockgate Capital Corp. was incorporated pursuant to the provisions of the BCBCA on November&nbsp;23, 2004 under the name "0709272&nbsp;B.C.&nbsp;Ltd." and
changed its name to "Rockgate Capital Corp." on April&nbsp;7, 2005. The registered office of Rockgate is located at Suite&nbsp;1750, 1185&nbsp;West Georgia Street, Vancouver, British Columbia,
Canada V6E&nbsp;4E6. The head office of Rockgate is located at P.O.&nbsp;Box&nbsp;10322, Suite&nbsp;1450&nbsp;&#150;&nbsp;701 West Georgia Street, Vancouver, British
Columbia V6C&nbsp;2T4. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain Information Concerning Securities of Rockgate  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Shares  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The authorized capital of Rockgate consists of an unlimited number of Shares without par value. Each Shareholder is entitled to receive
notice of and to attend any meetings of the shareholders of Rockgate and is entitled to one vote in respect of each Share held at such time. Each Shareholder is entitled to receive dividends, if any,
as and when declared by the Rockgate Board. Shareholders are entitled to participate equally in any distribution of Rockgate's net assets upon liquidation, dissolution or winding-up. There are no
pre-emptive, retraction, surrender, redemption, repurchase for cancellation or conversion rights attaching to the Shares. Based on publicly filed information as of September&nbsp;18, 2013, there
were issued and outstanding 116,897,470&nbsp;Shares. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Shares are listed on the TSX under the trading symbol "RGT". On September&nbsp;16, 2013, being the last trading day on the TSX prior to the announcement of Denison's intention to
make the Offer, the closing price of </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>34</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>the
Shares was $0.155 on the TSX. The following table sets forth, for the periods indicated, the reported high and low daily trading prices and the aggregate volume of trading of Shares on
the&nbsp;TSX: </FONT></P>
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<TD WIDTH="39pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="39pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>TSX Trading of Shares </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
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<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=1><B>Period

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<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>High </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Low </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Volume </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>2013</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>March</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.370</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.225</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>2,383,972</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>April</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.270</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.170</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1,527,063</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>May</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.240</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.160</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1,963,054</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>June</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.250</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.160</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>2,511,518</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>July</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.175</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.135</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>7,039,136</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>August</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.190</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.105</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>18,444,100</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September (to&nbsp;September&nbsp;18)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.215</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.150</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>8,784,282</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


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 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <P style="font-family:times;text-align:justify"><FONT SIZE=1>Source: TSX Market Data</FONT></P>
 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Options  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockgate's audited financial statements as at and for the year ended June&nbsp;30, 2013, disclose that Rockgate has granted and there
are outstanding options to acquire 150,000&nbsp;Rockgate common shares. Options to acquire 100,000&nbsp;shares at an exercise price of $1.31 per share will expire on July&nbsp;11, 2016, and
options to acquire 50,000&nbsp;shares at an exercise price of $1.00 share will expire on March&nbsp;27,&nbsp;2017 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Other Rights to Acquire Shares  </I></B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockgate's audited financial statements as at and for the year ended June&nbsp;30, 2013, disclose that other than the options to
acquire Rockgate common shares noted above, there are no outstanding securities or rights to acquire Rockgate common&nbsp;shares. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Background to the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the background to the Offer, including meetings and discussions between Denison and the Locked-Up Shareholders that preceded
the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June&nbsp;6, 2013, Rockgate and Mega Uranium announced that they had entered into a binding letter of intent to combine the two companies (the&nbsp;"</FONT><FONT SIZE=2><B>Mega
Uranium Arrangement</B></FONT><FONT SIZE=2>"). Under the terms of the Mega Uranium Arrangement, Rockgate shareholders will receive 2.2&nbsp;shares of Mega Uranium in exchange for each Rockgate
common share (a&nbsp;"</FONT><FONT SIZE=2><B>Share</B></FONT><FONT SIZE=2>") held, having, at the time of announcement, an implied price of C$0.25 per Share, based on the closing price of Mega
Uranium shares on the TSX on the day prior to announcement of the Mega Uranium Arrangement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
August&nbsp;13, 2013, over two months after announcing the Mega Uranium Arrangement, Rockgate and Mega Uranium entered into a definitive agreement. The definitive agreement was
filed on SEDAR and became available to Rockgate shareholders for their consideration on August&nbsp;15,&nbsp;2013. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
August&nbsp;16, 2013, Denison's President and Chief Executive Officer, Ron Hochstein, met with a senior representative of Sprott Resource Global Investments&nbsp;Ltd.
("</FONT><FONT SIZE=2><B>Sprott</B></FONT><FONT SIZE=2>"), an investment management firm focused on the metals, mining and alternative energy industries. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the meeting, among other topics of discussion, Sprott expressed to Mr.&nbsp;Hochstein its disappointment regarding the terms of the Mega Uranium Arrangement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
August&nbsp;19, 2013, Mr.&nbsp;Hochstein and Mr.&nbsp;Lukas Lundin, the Chairman of Denison's board of directors, met with Haywood Securities&nbsp;Inc.
("</FONT><FONT SIZE=2><B>Haywood</B></FONT><FONT SIZE=2>") to discuss potential opportunities for Denison arising from the </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>35</FONT></P>

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<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>proposed
Mega Uranium Arrangement. Further meetings among Mr.&nbsp;Hochstein, Mr.&nbsp;Lundin and Haywood occurred on August&nbsp;19,&nbsp;2013. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
August&nbsp;27, 2013, Mr.&nbsp;Hochstein contacted other significant holders of Shares, JP Morgan Natural Resources Fund ("</FONT><FONT SIZE=2><B>JPM</B></FONT><FONT SIZE=2>")
and New&nbsp;City Energy Limited, Geiger Counter Limited and City Natural Resources High Yield Trust&nbsp;Plc (collectively, the "</FONT><FONT SIZE=2><B>New&nbsp;City
Entities</B></FONT><FONT SIZE=2>") following Haywood having received word from JPM, and through Sprott, of the New&nbsp;City Entities', dissatisfaction regarding the proposed Mega Uranium
Arrangement. Through managed client accounts, each of JPM and the New&nbsp;City Entities has control and direction over 8,584,400&nbsp;Shares and 11,797,500&nbsp;Shares respectively,
representing in aggregate approximately 17.4% of the outstanding Shares. Each of JPM and the New&nbsp;City Entities confirmed to Mr.&nbsp;Hochstein their dissatisfaction regarding the proposed
Mega Uranium Arrangement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
August&nbsp;29, 2013, the board of directors of Denison met and received a report from Mr.&nbsp;Hochstein and Haywood regarding the Mega Uranium Arrangement and the terms of
proposed alternative transactions regarding the acquisition of Rockgate. The directors discussed the benefits to Denison arising from the potential acquisition of Rockgate as well as the financial
terms of any such transaction. At the meeting, the directors instructed Mr.&nbsp;Hochstein and Denison's management team and advisors to proceed with structuring a transaction whereby Denison would
acquire all of the issued and outstanding Shares for consideration consisting of Denison Shares to be exchanged with the holders of the&nbsp;Shares. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
August&nbsp;29, 2013, Denison's management team, counsel and Haywood commenced preparation of the various documents required for the Offer, including the Offer and Circular and
related documents. Denison's
management team and Haywood also considered the appropriate exchange ratio for Denison Shares to be offered to Rockgate shareholders under the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Hochstein
met with each of JPM and the New&nbsp;City Entities in London on September&nbsp;10, 2013. The parties were provided with drafts of the Lock-Up Agreement and a
letter regarding their voting intentions regarding the Mega Uranium Arrangement for their consideration. Subsequently, the New&nbsp;City Entities and JP Morgan provided their respective comments on
these documents. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
board of directors of Denison met on September&nbsp;13, 2013 to review the draft Offer and Circular and related documentation regarding the Offer, and to receive a report from
senior management and Haywood regarding the proposed exchange ratio for Denison Shares to be offered for the Shares. Following discussions and deliberations, the directors approved the form of the
Offer and Circular, subject to final amendments as determined by&nbsp;management. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the meeting of the board of directors, Denison's management, counsel, auditors and Haywood proceeded to prepare the final versions of the Offer and Circular and to undertake
the necessary preparations for the announcement of the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison's
senior management and counsel completed negotiations with the New&nbsp;City Entities and JP&nbsp;Morgan regarding their respective Lock-Up Agreements. JP&nbsp;Morgan
executed and delivered its Lock-Up Agreement on September&nbsp;13, 2013 following the closing of trading on the TSX and NYSE MKT, and the Lock-Up Agreements and voting intention letters of the
New&nbsp;City Entities were executed and delivered on September&nbsp;16, 2013, following the closing of trading on the TSX and NYSE&nbsp;MKT. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
September&nbsp;16, 2013, Sprott and certain of its affiliates provided Denison with letters expressing their current intention to (a)&nbsp;vote any Shares beneficially owned or
under their control or direction against the resolution approving the Mega Uranium Arrangement, and (b)&nbsp;recommend to their clients that such clients vote any Shares held by such clients against
the resolution approving the Mega Uranium Arrangement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
September&nbsp;16, 2013, following the close of trading on the TSX and NYSE MKT, Mr.&nbsp;Hochstein telephoned Rockgate's President and Chief Executive Officer to advise that
Denison's intention to make the Offer would be announced by news release on September&nbsp;17, 2013, and that a formal notice by advertisement, </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>36</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>the
Offer and Circular and related documentation would subsequently be filed with the securities regulatory authorities in Canada and the United&nbsp;States as required under applicable
securities&nbsp;laws. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
September&nbsp;17, 2013, prior to the opening of trading on the TSX and NYSE MKT, Denison issued a news release announcing its intention to make the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the announcement of its intention to make the Offer, later on September&nbsp;17, 2013 Denison's counsel wrote to the British Columbia Securities Commission requesting that
Rockgate clarify whether the Shareholder Rights Plan was applicable to the Offer in light of certain statements set out in the Mega Uranium Arrangement Agreement. Rockgate subsequently issued a news
release confirming that the Shareholder Rights Plan was not applicable to the Offer. On September&nbsp;18, 2013, Denison settled the terms of the Lock-Up Agreements with the Sprott Entities and such
Lock-Up Agreements were executed and delivered. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefits of the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison believes that Shareholders will enjoy the following significant benefits from the&nbsp;Offer:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Significant Premium</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;The Offer
represents a premium of approximately 47% over the closing price of $0.155 per Share on the TSX, and a premium of 38% based on the trailing 20&nbsp;day volume weighted average price of both
companies on the TSX as of September&nbsp;16,&nbsp;2013; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Premium to Implied Mega Uranium
Offer</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;The Offer represents a 38% premium over the Mega Uranium Arrangement exchange ratio based on the closing prices on the TSX as of
September&nbsp;16,&nbsp;2013; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Superior Asset Value
Recognition</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Based on its closing share prices during the trailing three months as of September&nbsp;16, 2013, Rockgate has not
attained a market capitalization in excess of its June&nbsp;30, 2013 net cash value per&nbsp;share; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Major Shareholder Rejection of the Mega Uranium
Arrangement</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Denison has been advised by holders of 31.5% of the Shares outstanding that they will vote against the Mega Uranium
Arrangement. Further, Sprott U.S.&nbsp;Holdings&nbsp;Inc., incorporating all United States Sprott affiliates, has agreed to recommend to their clients (who&nbsp;hold approximately 11.2% of the
Shares) to vote against the Mega Uranium Arrangement; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Premier Uranium Exploration
Company</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;The opportunity for Rockgate shareholders to participate in the assets of Denison, which include a best-in-class pipeline of
advanced exploration, development and capital assets in the Athabasca Basin, including the Wheeler River Project, as well as the Mutanga Project in&nbsp;Zambia; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Superior Capital Markets
Presence</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Rockgate shareholders to benefit from larger scale (Denison's market capitalization is $549&nbsp;million as of
September&nbsp;16, 2013), superior trading liquidity (Denison's three month average daily trading value in Canada and the United&nbsp;States is $3.5&nbsp;million per day), and increased research
analyst coverage (11&nbsp;research analysts actively cover&nbsp;Denison); </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Superior African
Synergies</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Denison's African and global exploration team is more complementary to Rockgate's Falea development than what is offered by
the Mega Uranium Arrangement; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Business Activity
Alignment</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Denison's active business is the exploration and development of uranium projects, which better complements Rockgate's asset
base as compared to Mega Uranium's primary business activity of holding small-cap uranium equity investments. Denison offers Rockgate shareholders the added potential benefit from any future increases
in value associated with the continued exploration and development of Denison's current portfolio of&nbsp;assets. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Reduced Exposure to Third-Party Equity
Risk</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Mega Uranium's underlying asset valuation is heavily influenced by the potential success and liquidity of externally operated
portfolio holdings, in particular </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>37</FONT></P>

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<UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>that
of Toro Energy&nbsp;Ltd. of Australia as a result of a transaction announced by Mega Uranium on August&nbsp;12,&nbsp;2013. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Tax-deferral Opportunity</I></B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;For
Canadian federal income tax purposes, Resident Shareholders who hold their Shares as capital property generally will be able to exchange such Shares for Denison Shares under the Offer on a
tax-deferred basis. See "Certain Canadian Federal Income Tax Considerations". </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purpose of the Offer and Plans for Rockgate  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of the Offer is to enable Denison to acquire, on the terms and subject to the conditions of the Offer, all of the outstanding Shares and SRP Rights.
Denison currently intends, if it takes up and pays for the Shares validly deposited under the Offer, to acquire all of the outstanding Shares not deposited under the Offer by way of a Compulsory
Acquisition or Subsequent Acquisition Transaction. If Denison is unable or elects not to effect a Compulsory Acquisition or Subsequent Acquisition Transaction, Denison will evaluate other alternatives
to acquire all of the Shares not deposited under the Offer. See Section&nbsp;9 of the Circular, "Acquisition of Shares Not&nbsp;Deposited". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Offer is successful, it is anticipated that the current management of Denison will manage Rockgate in place of Rockgate's current management, and that the board of directors of
Rockgate will be replaced by nominees of Denison. The Offer is consistent with Denison's strategy of becoming the leading uranium exploration and development company. Upon the completion of the
acquisition of all of the outstanding Shares, Denison intends to undertake an evaluation of the merits of a spin-out into a new company of Denison's African assets including its Mutanga development
project in Zambia, its exploration joint ventures with Rio Tinto in Namibia, as well as Rockgate's Falea project. Any such transaction would allow Denison to focus on its Athabasca Basin uranium
exploration and development assets, while continuing to provide diversification to Denison and Rockgate shareholders alike. The timing and structure of any such subsequent transaction will be decided
in the context of prevailing market conditions and optimal financial considerations. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
permitted by applicable Law, subsequent to the completion of the Offer and a Compulsory Acquisition or any Subsequent Acquisition Transaction, if necessary, Denison intends to delist
the Shares from the TSX and the NYSE MKT and to cause Rockgate to cease to be a reporting issuer under the securities laws of each of the Provinces of Canada in which it has such status and cease to
be registered under the U.S.&nbsp;Exchange Act. See Section&nbsp;15 of the Circular, "Effect of the Offer on the Market for and Listing of Shares and Status as a Reporting Issuer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
plans are based on information currently available to Denison. Except as otherwise indicated herein, Denison has so far only reviewed publicly available information about Rockgate
filed with Canadian securities regulatory authorities and the SEC. As a result, the foregoing plans for Rockgate's business are of a general nature and may change if more information becomes
available. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lock-Up Agreements  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison entered into a Lock-Up Agreement with JP Morgan Asset Management (UK) Limited ("</FONT><FONT SIZE=2><B>JP&nbsp;Morgan</B></FONT><FONT SIZE=2>") on
September&nbsp;13, 2013 and with each of New&nbsp;City Energy Limited, Geiger Counter Limited and City Natural Resources High Yield Trust&nbsp;Plc (collectively, the
"</FONT><FONT SIZE=2><B>New&nbsp;City Entities</B></FONT><FONT SIZE=2>") on September&nbsp;16, 2013. Denison entered into the Lock-Up Agreements with Sprott Asset Management USA&nbsp;Inc.,
Resource Capital Investment Corp. General Partner and Sprott Asset Management&nbsp;LP (the&nbsp;"</FONT><FONT SIZE=2><B>Sprott Entities</B></FONT><FONT SIZE=2>") on
September&nbsp;18,&nbsp;2013. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
aggregate number of Shares beneficially owned or over which control and direction is exercised by the Locked-Up Shareholders and subject to the Lock-Up Agreements represents
approximately 31.5% of the issued and outstanding Shares. </FONT><FONT SIZE=2><B>The following is a summary of certain provisions of the Lock-Up Agreements. This summary does not purport to be
complete and is subject to, and is qualified in its entirety by reference to, the  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>38</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> provisions of the Lock-Up Agreements.</B></FONT><FONT SIZE=2> The Lock-Up Agreements have been filed by Denison under Rockgate's profile on SEDAR at <U>www.sedar.com</U>. </FONT></P>

<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Agreement to Tender  </I></FONT></P>

</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Locked-Up Shareholder has agreed, subject to applicable laws and restrictions, to tender and deposit under the Offer all of the
Shares that are beneficially owned by the Locked-Up Shareholder or over which it exercises control and direction, and in the certain cases, any additional Shares that they may subsequently acquire. </FONT></P>

<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Covenants of the Locked-Up Shareholder  </I></FONT></P>

</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Locked-Up Shareholder has agreed that it will not sell, option, transfer or otherwise encumber any of the Shares that are the
subject of the Lock-Up Agreement or any interest therein; not solicit a competing transaction or otherwise knowingly take any action of any kind which is reasonably likely to reduce the likelihood of
success of the Offer; and other than as may be agreed between Denison and the Locked-Up Shareholder, not grant or agree to grant any proxy or other right to vote Shares or enter into any voting trust
or other agreement with respect to the right to vote, call meetings, or give consents or approvals of any kind as to the Shares. Each of the Sprott Entities, other than Sprott Asset
Management&nbsp;LP, have agreed in their Lock-Up Agreements to delivery proxies or voting instructions and otherwise cause all Shares beneficially owned or over which control and direction is
exercised to be voted
against the resolution approving the Mega Uranium Arrangement, and to use commercially reasonable best efforts to recommend to its clients holding Shares to vote against the resolution approving the
Mega Uranium Arrangement. </FONT></P>

<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Termination of the Lock-Up Agreements  </I></FONT></P>

</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Lock-Up Agreements with JP Morgan and the New&nbsp;City Entities contemplate that each Locked-Up Shareholder's obligations under
its Lock-Up Agreement will automatically terminate if the Offer is amended to reduce the amount of the consideration payable thereunder; if the Offer is withdrawn or terminated for any reason; or if
any acquisition proposal (other than (a)&nbsp;an acquisition proposal from Mega Uranium or any party acting jointly or in concert with Mega Uranium or (b)&nbsp;any revision or amendment to the
Mega Uranium Arrangement) is made to Rockgate or the shareholders of Rockgate that the Locked-Up Shareholder considers to have more favourable terms. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Lock-Up Agreements with the Sprott Entities contemplate that each Locked-Up Shareholder's obligations under its Lock-Up Agreement may be terminated by written agreement of the
parties; by the Locked-Up Shareholder if the Offer has been terminated or withdrawn; by the Locked-Up Shareholder if Denison has not taken up and paid for the Shares within 120&nbsp;days after the
date of the Offer (subject to certain qualifications regarding the delay of the completion of the Offer); by the Locked-Up Shareholder if the Offer is modified such that it is less favourable than the
originals terms of the Offer or modified in a manner contrary to the provisions of applicable securities legislation; by either party if the other has not complied with its covenants or if any of its
representations or warranties are untrue in any material respect; or by the Locked-Up Shareholder if any condition to the Offer is not satisfied by the Expiry Time and Dennison has not elected to
waive such&nbsp;condition. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Source of Funds  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As the consideration under the Offer consists solely of Denison Shares, the Offer is not subject to any financing condition. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>39</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition of Shares Not Deposited  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Denison takes up and pays for Shares deposited under the Offer, Denison's current intention is that it will pursue a Compulsory Acquisition or a Subsequent
Acquisition Transaction to enable Denison or an affiliate of Denison to acquire all Shares not deposited under the Offer, as more particularly described below. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Compulsory Acquisition  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, within four months after the date of the Offer, the Offer has been accepted by Shareholders holding at least 90% of the issued and
outstanding Shares, Denison intends, to the extent possible, to acquire the Shares not tendered to the Offer under the provisions of Section&nbsp;300 of the BCBCA and otherwise in accordance with
applicable Laws (a&nbsp;"</FONT><FONT SIZE=2><B>Compulsory Acquisition</B></FONT><FONT SIZE=2>"). If a Compulsory Acquisition is not available or will not result in Denison acquiring all Shares
issuable on exercise of all Options, Denison will use its commercially reasonable best efforts to acquire the remaining Shares not tendered to the Offer as soon as possible, including by way of a
Subsequent Acquisition Transaction for consideration at least equivalent in value to the consideration paid pursuant to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
exercise its statutory right of Compulsory Acquisition, Denison must give written notice (the&nbsp;"</FONT><FONT SIZE=2><B>Offeror's Notice</B></FONT><FONT SIZE=2>") to each holder
of Shares to whom the Offer was made but who did not accept the Offer (and&nbsp;each person who subsequently acquires any such Shares) (in&nbsp;each case, a "</FONT><FONT SIZE=2><B>Dissenting
Offeree</B></FONT><FONT SIZE=2>") within five months after the date of the Offer of such proposed acquisition. If the Offeror's Notice is sent to a Dissenting Offeree under Subsection&nbsp;300(3) of
the BCBCA, Denison is entitled and bound to acquire all of the Shares of that Dissenting Offeree for the same price and on the same terms contained in the Offer, unless the Supreme Court of British
Columbia (the&nbsp;"</FONT><FONT SIZE=2><B>Court</B></FONT><FONT SIZE=2>") orders otherwise on an application made by that Dissenting Offeree within two months after the date of the Offeror's
Notice. Pursuant to any such application, the Court may fix the price and terms of payment for the Shares held by a Dissenting Offeree and make any such consequential orders and give any such
directions as the Court considers appropriate. Unless the Court orders otherwise (or, if an application to the Court has been made pursuant to the provisions described in the immediately preceding
sentence, at any time after that application has been disposed of) Denison must, not earlier than two months after the date of the Offeror's Notice, send a copy of the Offeror's Notice to Rockgate and
pay or transfer to Rockgate the consideration representing the price payable by Denison for the Shares that are referred to in the Offeror's Notice. On receiving a copy of the Offeror's Notice and the
consideration representing the price payable for the Shares referred to in the Offeror's Notice, Rockgate will be required to register Denison as a Shareholder with respect to those Shares. Any such
amount received by Rockgate must be paid into a separate account at a savings institution and, together with any other consideration so received, must be held by Rockgate, or by a trustee approved by
the Court, in trust for the Dissenting Offerees. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The foregoing is only a summary of the statutory right of Compulsory Acquisition that may become available to Denison. The summary is not intended to be complete
nor is it meant to be a substitute for the more detailed information contained in the provisions of Section&nbsp;300 of the BCBCA. Shareholders should refer to Section&nbsp;300 of the BCBCA for
the full text of the relevant statutory provisions. The provisions of Section&nbsp;300 of the BCBCA are complex and require strict adherence to notice and timing provisions, failing which the rights
under such provisions may be lost or altered. Shareholders who wish to be better informed about the provisions of Section&nbsp;300 of the BCBCA should consult their
legal&nbsp;advisors.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
income tax consequences to a Shareholder of a Compulsory Acquisition may differ from the income tax consequences to such Shareholder having its Shares acquired pursuant to the Offer.
See Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations" and Section&nbsp;20 of the Circular, "Certain United&nbsp;States Federal Income Tax Considerations".
Shareholders should consult their legal advisors for a determination of their legal rights with respect to a Compulsory Acquisition if&nbsp;proposed. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>40</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Compelled Acquisition  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;300 of the BCBCA provides that if Denison has not sent the Offeror's Notice to each Dissenting Offeree within one month
after becoming entitled to do so, Denison must send a written notice to each Dissenting Offeree stating that such Dissenting Offeree, within three months after receiving such notice, may require
Denison to acquire the Shares held by such Dissenting Offeree. If a Dissenting Offeree requires Denison to acquire its Shares in accordance with these provisions, Denison must acquire those Shares for
the same price and on the same terms contained in the Offer (a&nbsp;"</FONT><FONT SIZE=2><B>Compelled Acquisition</B></FONT><FONT SIZE=2>"). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The foregoing is only a summary of the statutory right of Compelled Acquisition that may become available to a Shareholder. The summary is not intended to be
complete nor is it meant to be a substitute for the more detailed information contained in the provisions of Section&nbsp;300 of the BCBCA. Shareholders should refer to Section&nbsp;300 of the
BCBCA for the full text of the relevant statutory provisions. The provisions of Section&nbsp;300 of the BCBCA are complex and require strict adherence to notice and timing provisions, failing which
the rights under such provisions may be lost or altered. Shareholders who wish to be better informed about the provisions of Section&nbsp;300 of the BCBCA should consult their
legal&nbsp;advisors.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
income tax consequences to a Shareholder of a Compelled Acquisition may differ from the income tax consequences to such Shareholder having its Shares acquired pursuant to the Offer.
See Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations". Shareholders should consult their legal advisors for a determination of their legal rights with respect to
a Compelled Acquisition if&nbsp;proposed. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Subsequent Acquisition Transaction  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Denison takes up and pays for Shares validly deposited under the Offer and the right of Compulsory Acquisition is not available to
Denison for any reason or will not result in Denison acquiring all Shares issuable on exercise of all Options, Denison currently intends to take such action as is necessary or advisable to acquire or
cause the exchange or redemption of all Shares not acquired under the Offer, including all Shares issued upon the exercise of Options. Such action may include causing a special meeting of Shareholders
to be called to consider an arrangement, amalgamation, merger, reorganization, consolidation, recapitalization or similar transaction involving Rockgate and Denison and/or an affiliate of Denison for
the purpose of enabling Denison or an affiliate of Denison to acquire, directly or indirectly, all of the Shares and/or all of the assets of Rockgate (a&nbsp;"</FONT><FONT SIZE=2><B>Subsequent
Acquisition Transaction</B></FONT><FONT SIZE=2>"). Under such a Subsequent Acquisition Transaction, Rockgate may continue as a separate subsidiary of Denison following the completion of any such
transaction. The timing and details of any such transaction will depend on a number of factors, including the number of Shares acquired pursuant to the Offer. If Denison takes up and pays for such
number of Shares which constitutes at least 66<SUP>2</SUP>/<SMALL>3</SMALL>% of the outstanding Shares (on&nbsp;a fully-diluted basis) under the Offer, Denison will own sufficient Shares to effect a Subsequent
Acquisition Transaction. Although Denison's current intention is to effect a Subsequent Acquisition Transaction, Denison reserves the right, in its sole discretion, not to complete a Subsequent
Acquisition Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MI
61-101&nbsp;may deem a Subsequent Acquisition Transaction to be a "business combination" if such Subsequent Acquisition Transaction would result in the interest of a Shareholder
being terminated without the consent of the Shareholder, irrespective of the nature of the consideration provided in substitution therefor. Denison expects that any Subsequent Acquisition Transaction
relating to Shares will be a "business combination" under MI 61-101. In certain circumstances, the provisions of MI 61-101&nbsp;may also deem certain types of Subsequent Acquisition Transactions to
be "related party transactions". However, if the Subsequent Acquisition Transaction is a "business combination" carried out in accordance with MI 61-101 or an exemption therefrom, the "related party
transaction" provisions therein do not apply to such transaction. Denison intends to carry out any such Subsequent Acquisition Transaction in accordance with MI 61-101, or any successor provisions, or
exemptions therefrom, such that the "related party transaction" provisions of MI 61-101&nbsp;will not apply to such Subsequent Acquisition Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MI
61-101&nbsp;provides that, unless exempted, an issuer proposing to carry out a business combination is required to obtain a valuation of the affected securities (and, subject to
certain exceptions, any non-cash </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>41</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>consideration
being offered therefor) and, among other things, include a summary of such valuation in the disclosure document for the Subsequent Acquisition Transaction unless the valuation is
included in its entirety in the disclosure document. Denison currently intends to rely on available exemptions (or, if such exemptions are not available, to seek waivers pursuant to
MI&nbsp;61-101&nbsp;exempting Rockgate and Denison or one or more of its affiliates, as appropriate) from the valuation requirements of MI&nbsp;61-101. An exemption is available under
MI&nbsp;61-101&nbsp;for certain business combinations completed no later than 120&nbsp;days after the expiry of a take-over bid provided that the consideration under such transaction is at least
equal in value to and is in the same form as the consideration that tendering shareholders were entitled to receive in the take-over bid and provided that certain disclosure is provided in the
take-over bid disclosure documents (and&nbsp;which disclosure has been provided herein). Denison currently intends that the consideration per Share offered under any Subsequent Acquisition
Transaction proposed by it would be equal in value to and in the same form as the consideration per Share paid to the Shareholders under the Offer (provided that, in calculating the value of the
consideration offered in any Subsequent Acquisition Transaction, each Denison Share shall be deemed to be at least equal in value to each Denison Share offered under the Offer) and that such
Subsequent Acquisition Transaction will be completed no later than 120&nbsp;days after the Expiry Time and, accordingly, Denison expects to rely on this&nbsp;exemption. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depending
on the nature and terms of the Subsequent Acquisition Transaction, Denison expects that the provisions of the BCBCA and Rockgate's constating documents will require the
approval of at least 66<SUP>2</SUP>/<SMALL>3</SMALL>% of the votes cast by holders of the outstanding Shares at a meeting duly called and held for the purpose of approving the Subsequent Acquisition Transaction.
In addition to any other required security holder approval, in order to complete a business combination, MI 61-101&nbsp;would also require the approval of a majority of the votes cast by "minority"
Shareholders to be obtained unless an exemption is available or discretionary relief is granted by applicable securities authorities. If, however, following the Offer, Denison is the holder of 90% or
more of the Shares at the time the Subsequent Acquisition Transaction is agreed to, the requirement for minority approval would not apply to the transaction if an enforceable appraisal remedy or
substantially equivalent right is made available to minority Shareholders. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
relation to the Offer and any business combination, the "minority" Shareholders will be, unless an exemption is available or discretionary relief is granted by applicable securities
authorities, all Shareholders other than (a)&nbsp;Denison (other than in respect of Shares acquired pursuant to the Offer, as described below), (b)&nbsp;any "interested party" (within the meaning
of MI 61-101), (c)&nbsp;any "related party" of an "interested party", unless the related party meets that description solely in its capacity as a director or senior officer of one or more persons
that are neither "interested parties" nor "issuer insiders" (in&nbsp;each case within the meaning of MI&nbsp;61-101) of Rockgate, and (d)&nbsp;any "joint actor" (within the meaning of
MI&nbsp;61-101) with any of the foregoing persons. MI&nbsp;61-101&nbsp;also provides that Denison may treat Shares acquired under the Offer (including those deposited under the terms of the
Lock-Up Agreements) as "minority" shares and vote them, or to consider them voted, in favour of such business combination if, among other things: (i)&nbsp;the business combination is completed no
later than 120&nbsp;days after the Expiry Time; (ii)&nbsp;the consideration per security paid in the business combination is at least equal in value to and in the same form as the consideration
paid under the Offer; (iii)&nbsp;certain disclosure is provided in the Circular (and&nbsp;which disclosure has been provided herein); and (iv)&nbsp;the Shareholder who tendered such Shares to
the Offer was not (A)&nbsp;a "joint actor" (within the meaning of MI&nbsp;61-101) with Denison in respect of the Offer, (B)&nbsp;a direct or indirect party to any "connected transaction" (within
the meaning of MI&nbsp;61-101) to the Offer, or (C)&nbsp;entitled to receive, directly or indirectly, in connection with the Offer, a "collateral benefit" (within the meaning of MI&nbsp;61-101)
or consideration per Share that was not identical in amount and form to the entitlement of the general body of holders in Canada of&nbsp;Shares. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MI
61-101&nbsp;excludes from the meaning of "collateral benefit" certain benefits to a related party received solely in connection with the related party's services as an employee,
director or consultant of an issuer where, among other things (a)&nbsp;the benefit is not conferred for the purposes of increasing the value of the consideration paid to the related party for
securities relinquished under the transaction or bid; (b)&nbsp;the conferring of the benefit is not, by its terms, conditional on the related party supporting the transaction or bid in any manner;
(c)&nbsp;full particulars of the benefit are disclosed in the disclosure document for the transaction or in the directors' circular in the case of a bid (and&nbsp;which disclosure has been
provided therein); and (d)&nbsp;the related party and its associated </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>42</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>entities
beneficially own or exercise control or direction over less than 1% of the outstanding securities of each class of equity securities of the&nbsp;issuer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, MI 61-101&nbsp;also excludes from the meaning of "collateral benefit" certain benefits to a related party received solely in connection with the related party's services
as an employee, director or consultant of an issuer where such benefit meets the criteria described in (a)&nbsp;to (c)&nbsp;of the previous paragraph and (i)&nbsp;the related party discloses to
an independent committee of the issuer the amount of consideration that the related party expects it will be beneficially entitled to receive, under the terms of the transaction or bid, in exchange
for the equity securities beneficially owned by the related party, (ii)&nbsp;the independent committee, acting in good faith, determines that the value of the benefit, net of any offsetting costs to
the related party, is less than 5% of the value referred to in clause&nbsp;(i) above, and&nbsp;(iii) the independent committee's determination is disclosed in the disclosure document for the
transaction or in the directors' circular in the case of a&nbsp;bid. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
currently intends: (a)&nbsp;that the consideration offered per Share under any Subsequent Acquisition Transaction proposed by it would be equal in value to and in the same form
as the consideration per Share paid to Shareholders under the Offer (provided that, in calculating the value of the consideration offered in any Subsequent Acquisition Transaction, each Denison Share
shall be deemed to be at least equal in value to each Denison Share offered under the Offer); (b)&nbsp;that such Subsequent Acquisition Transaction will be completed no later than 120&nbsp;days
after the Expiry Time; and (c)&nbsp;to cause any Shares acquired under the Offer to be voted in favour of any such transaction and, where permitted by MI&nbsp;61-101, to be counted as part of any
minority approval required in connection with any such transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
such Subsequent Acquisition Transaction may also result in Shareholders having the right to dissent in respect thereof and demand payment of the fair value of their Shares. The
exercise of such right of dissent, if certain procedures are complied with by the holder, could lead to a judicial determination of fair value required to be paid to such dissenting Shareholder for
its Shares. The fair value so determined could be more or less than the amount paid per Share pursuant to such Subsequent Acquisition Transaction or pursuant to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
income tax consequences to a Shareholder of a Subsequent Acquisition Transaction may differ from the income tax consequences to such Shareholder having its Shares acquired pursuant
to the Offer. See Section&nbsp;19 of the Circular, "Certain Canadian Federal Income Tax Considerations" and Section&nbsp;20 of the Circular, "Certain United&nbsp;States Federal Income Tax
Considerations". Shareholders should consult their legal advisors for a determination of their legal rights with respect to a Subsequent Acquisition Transaction if&nbsp;proposed. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Other Alternatives  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Denison is unable to, or elects not to, effect a Compulsory Acquisition or propose a Subsequent Acquisition Transaction, or proposes
a Subsequent Acquisition Transaction but cannot obtain any required approvals or exemptions promptly, Denison will evaluate other available alternatives. Such alternatives could include, to the extent
permitted by applicable Laws, taking no further action, purchasing additional Shares in the open market, in privately negotiated transactions, in another take-over bid or exchange offer or otherwise,
as applicable, or acquiring the assets of Rockgate by way of an arrangement, amalgamation, reorganization, redemption, asset sale or other transaction between Denison and/or one or more of its
affiliates. Subject to applicable Laws, any additional purchases of Shares could be at a price greater than, equal to or less than the price to be paid for Shares under the Offer and could be for
cash, securities and/or other consideration. Alternatively, Denison may take no action to acquire additional Shares or, subject to applicable Laws, may sell or otherwise dispose of any or all Shares
acquired under the Offer or otherwise. Such transactions may be effected on terms and at prices then determined by Denison, which may vary from the terms and the price paid for Shares under
the&nbsp;Offer. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>43</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Legal and Judicial Developments  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;1, 2008, MI 61-101&nbsp;came into force in the provinces of Ontario and Qu&eacute;bec, introducing
harmonized requirements for enhanced disclosure, independent valuations and majority of minority security holder approval for specified types of transactions. See
"&#151;&nbsp;Subsequent Acquisition Transaction" above. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
judicial decisions may also be considered relevant to any Subsequent Acquisition Transaction that may be proposed or effected subsequent to the expiry of the Offer. Canadian
courts have, in a few instances prior to the adoption of MI 61-101 and its predecessors, granted preliminary injunctions to prohibit transactions involving certain business combinations. The current
trends in both legislation and Canadian jurisprudence indicate a willingness to permit business combinations to proceed, subject to evidence of procedural and substantive fairness in the treatment of
minority shareholders. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
should consult their legal advisors for a determination of their legal rights with respect to any transaction that may constitute a business combination. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>10.&nbsp;&nbsp;&nbsp;Acceptance of the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison has no knowledge regarding whether any Shareholder will accept the Offer, other than the Locked-Up Shareholders, who have agreed to accept the Offer,
subject to certain exceptions, pursuant to the Lock-Up Agreements. See Section&nbsp;7 of the Circular, "Lock-Up Agreements". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>11.&nbsp;&nbsp;&nbsp;Ownership of and Trading in Securities of Rockgate  </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Shares or Options are beneficially owned, nor is control or direction exercised over any of such securities, by Denison or its directors or officers. To the
knowledge of Denison, after reasonable enquiry, no Shares or Options are beneficially owned, nor is control or direction exercised over any of such securities, by any associate or affiliate of an
insider of Denison, any insider of Denison other than a director or officer of Denison, or any person acting jointly or in concert with&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the knowledge of Denison, after reasonable enquiry, none of Denison or its directors or officers, any associate or affiliate of an insider of Denison, any insider of Denison other
than a director or officer of Denison, or any person acting jointly or in concert with Denison, purchased or sold any securities of Rockgate during the six-month period preceding the date of
the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>12.&nbsp;&nbsp;&nbsp;Commitments to Acquire Securities of Rockgate  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of Denison or, to the knowledge of Denison, after reasonable enquiry, any director or officer of Denison, any associate or affiliate of an insider of
Denison, any insider of Denison other than a director or officer of Denison, or any person acting jointly or in concert with Denison, has entered into any agreements, commitments or understandings to
acquire any securities of Rockgate, except for the Lock-Up Agreements. See Section&nbsp;4 of the Circular, "Background to the Offer", Section&nbsp;7 of the Circular, "Lock-Up Agreements". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>13.&nbsp;&nbsp;&nbsp;Other Material Facts  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison has no knowledge of any material fact concerning the securities of Rockgate that has not been generally disclosed by Rockgate, or any other matter that is
not disclosed in the Circular and that has not previously been generally disclosed, and that would reasonably be expected to affect the decision of Shareholders to accept or reject the&nbsp;Offer. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>14.&nbsp;&nbsp;&nbsp;Agreements, Arrangements or Understandings  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other than the Lock-Up Agreements described in Section&nbsp;7 of the Circular, "Lock-Up Agreements", there are (a)&nbsp;no agreements, commitments or
understandings made or proposed to be made between Denison and any director or officer of Rockgate, including for any payment or other benefit proposed to be made or given by Denison to such directors
or officers as compensation for loss of office or for remaining in or retiring from office </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>44</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>following
the completion of the Offer, and (b)&nbsp;no agreements, commitments or understandings made or proposed to be made between Denison and any Shareholder relating to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no agreements, commitments or understandings made between Denison and Rockgate relating to the Offer and, other than the Shareholder Rights Plan, Denison is not aware of any
other agreement, commitment or understanding that could affect control of Rockgate that Denison has access to and that can reasonably be regarded as material to a Shareholder in deciding whether to
deposit Shares under the Offer. See Section&nbsp;4 of the Circular, "Background to the Offer" and Section&nbsp;21 of the Circular, "Shareholder Rights&nbsp;Plan". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the knowledge of Denison, other than as disclosed in this Section&nbsp;14, there are no direct or indirect benefits of accepting or rejecting the Offer that will accrue to any
insider of Denison or, to the knowledge of Denison, after reasonable enquiry, any director or officer of Rockgate, any associate or affiliate of an insider of Rockgate, any associate or affiliate of
Rockgate or any person or company acting jointly or in concert with Rockgate, other than those benefits that will accrue to Shareholders generally. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>15.&nbsp;&nbsp;&nbsp;Effect of the Offer on the Market for and Listing of Shares and Status as a Reporting Issuer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purchase of Shares by Denison under the Offer will reduce the number of Shares that might otherwise trade publicly and will reduce the number of Shareholders
and, depending on the number of Shares acquired by Denison, could materially adversely affect the liquidity and market value of any remaining Shares held by the&nbsp;public. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
rules and regulations of the TSX establish certain criteria which, if not met, could, upon the successful completion of the Offer, lead to the delisting of the Shares from the TSX.
Among such criteria are the number of public Shareholders, the number of Shares publicly held and the aggregate market value and trading volume of the Shares publicly held. Depending on the number of
Shares purchased under the Offer, it is possible that the Shares would fail to meet the criteria for continued listing on the TSX. If this were to happen, the Shares could be delisted and this could,
in turn, adversely affect the market or result in a lack of an established market for the Shares. If the Shares are delisted from the TSX, the extent of the public market for the Shares and the
availability of price or other quotations would depend upon the number of Shareholders, the number of Shares publicly held and the aggregate market value of the Shares publicly held at such time, the
interest in maintaining a market in Shares on the part of securities firms, whether Rockgate remains subject to public reporting requirements in Canada and other factors. Even if the Shares would not
be delisted by virtue of failing to meet the criteria for continued listing on the TSX, Denison intends, to the extent permitted by applicable Laws, to cause Rockgate to apply to voluntarily delist
the Shares from the TSX as soon as practicable after completion of the Offer and, if applicable, any Compulsory Acquisition or Subsequent Acquisition Transaction. There is, however, no assurance that
any such transaction will be&nbsp;completed. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
permitted by applicable Laws, subsequent to the completion of the Offer and any Compulsory Acquisition or Subsequent Acquisition Transaction, Denison intends to cause Rockgate to
cease to be a reporting issuer under the securities laws of each jurisdiction of Canada where it is currently a reporting issuer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>16.&nbsp;&nbsp;&nbsp;Certain Information Concerning Securities of Denison  </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Authorized and Outstanding Share Capital  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The authorized capital of Denison consists of an unlimited number of Denison Shares without par value, of which 461,864,679&nbsp;were
issued and outstanding as of September&nbsp;18, 2013. Holders of Denison Shares are entitled to receive notice of any meetings of shareholders of Denison and to attend and to cast one vote per
Denison Share at all such meetings. Holders of Denison Shares do not have cumulative voting rights with respect to the election of directors and, accordingly, holders of a majority of the Denison
Shares entitled to vote in any election of directors may elect all directors standing for&nbsp;election. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
of Denison Shares are entitled to receive on a </FONT><FONT SIZE=2><I>pro-rata</I></FONT><FONT SIZE=2> basis such dividends, if any, as and when declared by Denison's board of
directors at its discretion from funds legally available therefor and, on the liquidation, dissolution or winding up of Denison, are entitled to receive on a </FONT> <FONT SIZE=2><I>pro-rata</I></FONT><FONT SIZE=2> basis the net assets of </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>45</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
after payment of debts and other liabilities, in each case subject to the rights, privileges, restrictions and conditions attaching to any other series or class of shares ranking senior in
priority to or on a </FONT><FONT SIZE=2><I>pro-rata</I></FONT><FONT SIZE=2> basis with the holders of Denison Shares with respect to dividends or liquidation. The Denison Shares do not carry any
pre-emptive, subscription, redemption or conversion rights. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of September&nbsp;18, 2013, Denison had 9,970,178&nbsp;options outstanding under its share option plan, exercisable for 9,970,178&nbsp;Denison Shares. Denison also has warrants
outstanding entitling the holders thereof to acquire an aggregate of 1,378,115&nbsp;Denison&nbsp;Shares. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Dividends  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To date, Denison has not paid dividends on its shares. Denison currently intends to retain future earnings, if any, for use in its
business and does not currently anticipate paying dividends on its shares. Any determination to pay any future dividends will remain at the discretion of Denison's board of directors and will be made
taking into account its financial condition and other factors deemed relevant by the&nbsp;board. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Consolidated Capitalization  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There have not been any material changes in the share or loan capital, on a consolidated basis, of Denison since June&nbsp;30, 2013,
the date of Denison's most recently filed unaudited interim condensed consolidated financial statements. The following table sets forth Denison's consolidated capitalization as at June&nbsp;30,
2013, adjusted to give effect to the Offer. The table should be read in conjunction with the unaudited interim condensed consolidated financial statements of Denison for the six month interim period
ended June&nbsp;30, 2013, including the notes thereto, and management's discussion and analysis thereof and the other financial information contained in or incorporated by reference in the Offer
and&nbsp;Circular. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="92pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="93pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
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<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>As at June&nbsp;30, 2013 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>As at June&nbsp;30, 2013<BR>
after giving effect to<BR>
the Offer<SUP>(1)(2)(3)(4)(5)</SUP> </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(all&nbsp;dollar amounts in thousands of U.S.&nbsp;dollars)</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Common share capital and warrants</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1,070,512</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1,095,939</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Contributed surplus</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>52,611</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>52,611</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deficit</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(784,898</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>(784,898</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Long-term debt</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>60</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>60</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total capitalization</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>338,285</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>363,712</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Amounts
have been determined assuming that all Shares (on&nbsp;a fully-diluted basis) are deposited under the&nbsp;Offer.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Before
deducting expenses of the Offer.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Where
applicable, amounts in Canadian dollars have been converted to U.S.&nbsp;dollars using the June&nbsp;30, 2013 Bank of Canada closing rate of
exchange for U.S.&nbsp;dollars, which was C$1.00 =&nbsp;US$0.9508.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Rockgate
amounts incorporated are as at June&nbsp;30, 2013, the date of Rockgate's most recently filed audited annual consolidated financial statements.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Dollar
amount of Consideration assumed to be issued pursuant to the Offer has been calculated using the September&nbsp;16, 2013 closing price of the
Denison Shares on the TSX, which was&nbsp;$1.19. </FONT></DD></DL>
 </DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>46</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=56,EFW="2216722",CP="DENISON MINES CORPORATION",DN="1",CHK=179657,FOLIO='46',FILE='DISK104:[13ZCO3.13ZCO40303]DM40303A.;7',USER='RMCIVOR',CD='19-SEP-2013;09:19' -->
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Price Range and Trading Volume of the Denison Shares  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Denison Shares are listed on the Toronto Stock Exchange ("</FONT><FONT SIZE=2><B>TSX</B></FONT><FONT SIZE=2>") under the symbol
"DML" and on the NYSE MKT under the symbol "DNN." On September&nbsp;16, 2013, being the last trading day on the TSX and the NYSE MKT prior to the announcement of Denison's intention
to make the Offer, the closing price of the Denison Shares was $1.19 on the TSX and US$1.15 on the NYSE MKT. The following table sets forth, for the periods indicated, the reported high and low daily
trading prices and the aggregate volume of trading of Denison Shares on the&nbsp;TSX: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="39pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="39pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="61pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>TSX Trading of<BR>
Denison Shares </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:23pt;"><FONT SIZE=1><B>Period

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 </B></FONT></DIV></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>High </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Low </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Volume </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>2012</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>August</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.490</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.300</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>8,825,247</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.680</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.360</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>18,378,752</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>October</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.490</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.250</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>12,016,557</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>November</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.290</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.040</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>12,042,313</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>December</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.280</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.050</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>27,819,652</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>2013</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>January</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.600</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.190</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>31,202,716</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>February</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.480</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.240</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>14,223,189</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>March</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.540</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.220</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>26,475,737</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>April</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.400</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.180</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>20,887,543</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>May</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.340</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.150</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>25,289,241</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>June</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.440</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.200</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>30,402,957</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>July</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.450</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.220</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>40,280,759</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>August</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.330</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.200</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>15,414,080</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September (to&nbsp;September&nbsp;18)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.240</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.100</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>20,508,107</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<!-- COMMAND=ADD_LINERULETXT,NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="12%" ALIGN="LEFT" -->
<HR NOSHADE  COLOR="#000000" SIZE="1.0PT" WIDTH="12%" ALIGN="LEFT" >
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <P style="font-family:times;text-align:justify"><FONT SIZE=1>Source: TSX Market Data</FONT></P>
 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Prior Sales  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the 12-month period prior to the date of the Offer, Denison has issued or granted Denison Shares and securities convertible into
Denison Shares as listed in the table below. Other than the issuances listed in the </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>47</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=57,EFW="2216722",CP="DENISON MINES CORPORATION",DN="1",CHK=649107,FOLIO='47',FILE='DISK104:[13ZCO3.13ZCO40303]DO40303A.;14',USER='BHOLLIN',CD='19-SEP-2013;09:33' -->
<A NAME="page_do40303_1_48"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>table
below, Denison has not issued any Denison Shares or securities convertible into Denison Shares within the 12&nbsp;months preceding the date of the&nbsp;Offer. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:57%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"140%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="140%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="199pt" style="font-family:times;"></TD>
<TD WIDTH="24pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="72pt" style="font-family:times;"></TD>
<TD WIDTH="36pt" style="font-family:times;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="69pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:17pt;"><FONT SIZE=1><B>Date

<!-- COMMAND=ADD_SCROPPEDRULE,17pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:59pt;"><FONT SIZE=1><B>Reason for Issue

<!-- COMMAND=ADD_SCROPPEDRULE,59pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Number Issued </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Issue Price ($) </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2012-Oct 26</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Flow-Through Issue</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>4,145,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.6900</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jan 31</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>JNR Acquisition (Shares Issued)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>7,975,479</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>N/A</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Apr 26</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Fission Acquisition (Shares Issued)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>53,053,284</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>N/A</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-May&nbsp;28</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Flow-Through Issue</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>11,500,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.3000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-May&nbsp;29</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>11,833</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.7085</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jun 5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>3,045</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.9017</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jun 6</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>35,500</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.8373</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jun 13</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>17,750</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.8373</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jun 13</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>17,750</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.8373</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jun 28</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>8,376</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.9017</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jul 4</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>10,660</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.9017</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jul 15</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>20,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.0305</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jul 25</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>19,927</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.0949</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jul 31</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>17,750</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.0305</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Jul 31</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>8,875</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.0305</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Aug 13</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>3,550</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.8373</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Aug 14</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>31,953</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.7729</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Aug 16</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>159,765</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.7729</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Aug 21</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>14,910</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.0949</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Aug 22</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>35,500</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.8373</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Aug 29</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Stock Option Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>54,433</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.7085</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Sep 5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>21,302</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>0.7729</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Sep 5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>22,141</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.0949</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013-Sep 5</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>Warrant Exercise</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>14,981</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1.0949</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=2><B>17.&nbsp;&nbsp;&nbsp;Risk Factors  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As Shareholders will acquire Denison Shares in consideration for the Shares that they deposit under the Offer, Shareholders should carefully consider the risks
and uncertainties associated with Denison and the Denison Shares set out in this Section&nbsp;17 and&nbsp;those described in the documents that Denison has filed with Canadian securities
regulatory authorities and furnished or filed with the SEC that are incorporated by reference herein, including Denison's Annual Information Form filed on SEDAR dated March&nbsp;13, 2013 for the
financial year ended December&nbsp;31, 2012 and which have been furnished or filed with the SEC, including Denison's Form&nbsp;40-F for such period filed on the SEC's EDGAR website and available
at www.sec.gov. Denison expects that these risks and uncertainties will also be applicable to Denison following completion of the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional
risks and uncertainties relating solely to Rockgate are described in the documents that Rockgate has filed with Canadian securities regulatory authorities and furnished or
filed with the&nbsp;SEC. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
risks and uncertainties may not be the only risks and uncertainties faced by Denison or the combined company. Other risks and uncertainties not presently known by Denison or that
Denison currently believes are not material could also materially and adversely affect Denison's or the combined company's business, results of operations and/or financial condition. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>48</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Risks Relating to the Offer  </I></B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I><U>The market value of Denison Shares received by Shareholders under the Offer may vary
significantly from the date on which the exchange ratio was&nbsp;fixed.</U></I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depositing
Shareholders will receive a number of Denison Shares under the Offer based on a fixed exchange ratio, rather than Denison Shares with a specific market value. The number of
Denison Shares to be issued in exchange for each Share will not be adjusted to reflect any changes in the market value of the Denison Shares. Consequently, the market value of the Denison Shares
issued to Shareholders in connection with the take-up of their Shares under the Offer may vary significantly from the market value for those Denison Shares on the date of the Offer or on the date on
which such Shareholders deposit their Shares under the Offer. If the market price of the Denison Shares declines, the value of the consideration received by Shareholders will decline as well. For
example, during the 12-month period ending on September&nbsp;16, 2013 (the&nbsp;most recent trading day prior to the date of the announcement of the Offer), the trading price of the Denison Shares
on the TSX varied from a low of $1.04 to a high of $1.68 and ended that period at $1.19. Variations in the market price of the Denison Shares may occur as a result of changes in, or market perceptions
of changes in, the business, operations or prospects of Denison (either alone or combined with Rockgate), including factors that may affect the business, operations or prospects of Denison or the
combined company over which Denison has no control, as well as general market volatility. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I><U>After completion of the Offer, Rockgate would become a majority-owned subsidiary of Denison and Denison's interests could differ from that of other
Shareholders.</U></I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Offer is successful, Denison will have the authority to determine the directors of Rockgate and its subsidiaries and, as a result, appoint new management for Rockgate and its
subsidiaries. Denison will also have the authority to approve certain actions requiring the approval of Shareholders, including sales of Rockgate's assets. Denison currently intends, if it takes up
and pays for the Shares validly deposited under the Offer, to acquire all of the outstanding Shares not deposited under the Offer by way of a Compulsory Acquisition or Subsequent Acquisition
Transaction. If Denison is unable to complete (or&nbsp;if there is a delay in completing) a Compulsory Acquisition or Subsequent Acquisition Transaction, Denison will nonetheless own sufficient
Shares to control Rockgate. Denison's interests with respect to Rockgate may differ from the interests of Shareholders who do not deposit their Shares under the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I><U>The purchase of Shares by Denison under the Offer could affect the market for and listing of Shares and Rockgate's status as a reporting
issuer.</U></I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
purchase of Shares by Denison under the Offer will reduce the number of Shares that might otherwise trade publicly and will reduce the number of Shareholders and, depending on the
number of Shares acquired by Denison, could materially adversely affect the liquidity and market value of any remaining Shares held by the public. In addition, depending on the number of Shares
purchased under the Offer, it is possible that the Shares would fail to meet the criteria for continued listing on the TSX. Even if the Shares would not be delisted by virtue of failing to meet the
criteria for continued listing on the TSX, Denison intends, to the extent permitted by applicable Laws, to cause Rockgate to apply to voluntarily delist the Shares from the TSX as soon as practicable
after completion of the Offer and, if applicable, any Compulsory Acquisition or Subsequent Acquisition Transaction. See Section&nbsp;15 of the Circular, "Effect of the Offer on the Market for and
Listing of Shares and Status as a Reporting Issuer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I><U>The disposition of Shares and SRP Rights pursuant to the Offer may result in gain recognition and other adverse U.S.&nbsp;federal income tax
consequences for U.S.&nbsp;Shareholders.</U></I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the exchange of Shares and SRP Rights for Denison Shares does not qualify as a reorganization within the meaning of Section&nbsp;368(a) of the Internal Revenue Code of 1986, as
amended, subject to the "passive foreign investment company" rules, U.S.&nbsp;Shareholders generally would recognize gain or loss on Shares and SRP Rights surrendered in an amount equal to the
difference between the adjusted tax basis in those Shares and SRP </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>49</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>Rights
and the fair market value of Denison Shares received in exchange for such Shares and SRP Rights. In the event that Rockgate has been a PFIC for U.S.&nbsp;federal income tax purposes during
the Shareholder's holding period in the Shares and SRP Rights, unless the Shareholder has filed on a timely basis certain elections, (i)&nbsp;if the Offer qualifies as a reorganization under
U.S.&nbsp;federal income tax law, the Shareholder will recognize a gain (if&nbsp;any), but not loss, on the disposition of Shares pursuant to the Offer, unless Denison also qualifies as a PFIC for
the tax year that includes the day after the Effective Date of the Offer, and (ii)&nbsp;if the Offer does not qualify as a reorganization under U.S.&nbsp;federal income tax law, the Shareholder
will recognize a gain or loss on the disposition of Shares pursuant to the Offer. Any such gain generally will be taxable as ordinary income rather than capital gain, and the tax may be subject to an
interest charge. See Section&nbsp;19 of this Circular, "Certain United&nbsp;States Federal Income Tax Considerations". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Risks Relating to Denison and the Integration of the Operations and Businesses of Denison and&nbsp;Rockgate  </I></B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Offer is successful, it is anticipated that the current management of Denison will manage Rockgate in place of Rockgate's
current management, and that the board of directors of Rockgate will be replaced by nominees of Denison. The integration of the operations and businesses of Denison and Rockgate, or in the alternative
the completion of a spin-out transaction, may not produce the
anticipated benefits, in the expected time-frames or at all, due to unanticipated challenges or delays. These anticipated benefits and synergies will depend in part on whether the operations, systems
and personnel of Rockgate and Denison can be integrated in an efficient and effective manner, the timing and manner of completion of a Compulsory Acquisition or Subsequent Acquisition Transaction.
Most operational and strategic decisions, and certain staffing decisions, with respect to the combined company, and any spin-out transaction, have not yet been made and may not have been fully
identified. These decisions and the integration of the two companies or the implementation of a spin-out transaction will present significant challenges to management, including the integration of
operations and personnel of the two companies, and special risks, including possible unanticipated liabilities and expenses, significant one-time write-offs or restructuring charges and the loss of
key employees. There can be no assurance that there will be operational or other synergies realized by the combined company or following a spin-out transaction. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
further information regarding the risks relating to Denison and its business, see the documents that Denison has filed with Canadian securities regulatory authorities incorporated by
reference herein, including Denison's Annual Information Form filed on SEDAR dated March&nbsp;13, 2013 for the financial year ended December&nbsp;31,&nbsp;2012. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>18.&nbsp;&nbsp;&nbsp;Regulatory Considerations  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison's obligation to take up and pay for Shares under the Offer is conditional upon all government and regulatory approvals, waiting or suspensory periods,
waivers, permits, consents, reviews, investigations, orders, certificates, rulings, decisions, statements of no objection and exemptions, that are required by Law to complete the Offer or any
Compulsory Acquisition or Subsequent Acquisition Transaction, being obtained or concluded or, in the case of waiting or suspensory periods, expired or terminated, each on terms and conditions
satisfactory to&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Canadian Securities Laws  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The distribution of the Denison Shares under the Offer is being made pursuant to statutory exemptions from the prospectus and dealer
registration requirements under applicable Canadian securities laws. While the resale of Denison Shares issued under the Offer is subject to restrictions under the securities laws of certain Canadian
provinces and territories, Shareholders in such provinces and territories generally will be able to rely on statutory exemptions from such restrictions. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>50</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> U.S.&nbsp;Securities Laws  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The issuance of the Denison Shares under the Offer is being made pursuant to a registration statement on Form&nbsp;F-8 filed with the
SEC under the U.S.&nbsp;Securities Act, and Denison has applied to list the Denison Shares issuable under the Offer on the NYSE MKT. Shareholders who are not affiliates (as&nbsp;defined in
Rule&nbsp;144 under the U.S.&nbsp;Securities Act) of Denison may resell their Denison Shares acquired under the Offer without registration under the U.S.&nbsp;Securities Act. However, Denison
Shares owned by affiliates of Denison, including those acquired under the Offer, may be resold only pursuant to an applicable resale registration statement under the U.S.&nbsp;Securities Act, in
accordance with the requirements of Regulation&nbsp;S or Rule&nbsp;144 under the U.S.&nbsp;Securities Act or pursuant to another exemption from the registration requirements of the
U.S.&nbsp;Securities&nbsp;Act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>19.&nbsp;&nbsp;&nbsp;Certain Canadian Federal Income Tax Considerations  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the opinion of Cassels, counsel to Denison, the following is a summary of the principal Canadian federal income tax considerations under the </FONT> <FONT SIZE=2><I>Income
Tax&nbsp;Act</I></FONT><FONT SIZE=2> (Canada) and the regulations thereunder, as amended
(the&nbsp;"</FONT><FONT SIZE=2><B>Tax&nbsp;Act</B></FONT><FONT SIZE=2>"), as of the date hereof, generally applicable to a Shareholder who, for purposes of the Tax&nbsp;Act, holds Shares and
will hold Denison Shares received under the Offer as capital property, deals at arm's length with, and is not affiliated with, Rockgate or Denison and who sells Shares to Denison under the Offer or
otherwise disposes of Shares pursuant to certain transactions described in Section&nbsp;9 of the Circular, "Acquisition of Shares Not&nbsp;Deposited". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
and Denison Shares generally will be considered capital property to a Shareholder for purposes of the Tax&nbsp;Act unless such securities are held by the Shareholder in the
course of carrying on a business of buying and selling securities or were acquired in a transaction or transactions considered to be an adventure or concern in the nature of&nbsp;trade. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
summary is based on the current provisions of the Tax&nbsp;Act in force as of the date hereof and counsel's understanding of the current published administrative policies and
assessing practices of the CRA publicly available prior to the date hereof. This summary takes into account all specific proposals to amend the Tax&nbsp;Act that have been publicly announced by or
on behalf of the Minister of Finance (Canada) prior to the date hereof (the&nbsp;"</FONT><FONT SIZE=2><B>Tax Proposals</B></FONT><FONT SIZE=2>") and assumes that the Tax Proposals will be enacted
in the form proposed. No assurance can be given that the Tax Proposals will be enacted in the form proposed, or at all. This summary does not otherwise take into account or anticipate any other
changes in law, whether by judicial, governmental or legislative decision or action or changes in the administrative policies or assessing practices of the CRA, nor does it take into account
provincial, territorial or foreign income tax legislation or considerations, which may differ materially from those described in this&nbsp;summary. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
summary is not applicable to persons holding Options, other conversion or exchange rights to acquire Shares, or persons who acquired Shares on the exercise of employee stock
options. In addition, this summary does not apply to: (i)&nbsp;a Shareholder that is a "financial institution" for the purposes of the mark-to-market rules in the Tax&nbsp;Act, (ii)&nbsp;a
Shareholder an interest in which is a "tax shelter investment" as defined in the Tax&nbsp;Act, (iii)&nbsp;a Shareholder that is a "specified financial institution" as defined in the
Tax&nbsp;Act, (iv)&nbsp;a Shareholder who has made a "functional currency" election under section&nbsp;261 of the Tax&nbsp;Act, or (v)&nbsp;a Shareholder that has, or will, enter into, with
respect to the Shares or the Denison Shares, a "derivative forward agreement" as that term is defined in proposed amendments contained in a Notice of Ways and Means Motion that accompanied the federal
budget tabled by the Minister of Finance (Canada) on March&nbsp;21,&nbsp;2013. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further,
this summary is not applicable to a person that (i)&nbsp;is a corporation resident in Canada and (ii)&nbsp;is, or becomes, controlled by a non-resident corporation for the
purposes of the foreign affiliate dumping rules in section&nbsp;212.3 of the Tax&nbsp;Act. Any such Shareholder should consult their own tax&nbsp;advisors. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>51</FONT></P>

<HR NOSHADE>
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<A NAME="page_dq40303_1_52"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
summary assumes that if any SRP Rights are acquired pursuant to the Offer that there is no value to those SRP Rights, and, therefore, that no amount of the consideration paid by
Denison will be allocated to the SRP Rights. Accordingly, this summary does not otherwise address the disposition of any SRP Rights
pursuant to the Offer. Holders should consult their own tax advisors regarding the disposition of any SRP&nbsp;Rights. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
summary is of a general nature only and is not, and is not intended to be, nor should it be construed to be, legal or tax advice to any particular Shareholder. This summary is not
exhaustive of all Canadian federal income tax considerations. Accordingly, Shareholders should consult their own legal and tax advisors with respect to the tax consequences to them of having their
Shares acquired based on their particular circumstances, including the application and effect of the income and other taxes of any country, province or other jurisdiction in which the Shareholders
reside or carry on&nbsp;business. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Residents of Canada  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following portion of the summary is generally applicable to a Shareholder who, for purposes of the Tax&nbsp;Act and any
applicable tax treaty or convention and at all relevant times, is resident, or is deemed to be resident, in Canada (a&nbsp;"Resident Shareholder"). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
Resident Shareholders whose Shares would not otherwise qualify as capital property may be eligible to make an irrevocable election in accordance with subsection&nbsp;39(4) of
the Tax&nbsp;Act to have their Shares, and every other "Canadian security" (as&nbsp;defined in the Tax&nbsp;Act) owned by such Resident Shareholder in the taxation year in which the election is
made and in all subsequent taxation years, deemed to be capital property. Resident Shareholders contemplating such an election should first consult their own tax&nbsp;advisors. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Exchange of Shares for Denison Shares Pursuant to the Offer  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Resident Shareholder, who holds Shares as capital property and who exchanges such Shares for Denison Shares under the Offer, will not
realize a capital gain (or&nbsp;a capital loss) in respect of the exchange unless such Resident Shareholder elects to report such capital gain or capital loss in its income tax return for the year
in which the exchange occurs. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
where a particular Resident Shareholder chooses to recognize a capital gain (or&nbsp;capital loss) on the exchange of Shares for Denison Shares, Resident Shareholders will be
deemed to have disposed of their Shares for proceeds of disposition equal to the adjusted cost base of such shares immediately before the exchange and to have acquired their Denison Shares at a cost
equal to that same amount. Such cost will be averaged with the adjusted cost base of any other Denison Shares held by the Resident Shareholder as capital property for purposes of determining the
adjusted cost base of each Denison Share held by the Resident Shareholder. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Resident Shareholder may choose to recognize a capital gain (or&nbsp;capital loss) on the exchange of Shares for Denison Shares by including the capital gain (or&nbsp;capital loss)
in such Resident Shareholder's tax return for the taxation year in which the exchange occurs. In those circumstances, the Resident Shareholder will realize a capital gain (or&nbsp;capital loss)
equal to the amount by which the fair market value of the Denison Shares received on the exchange (as&nbsp;at the time of the exchange) exceeds (or&nbsp;is exceeded by) the sum of the adjusted
cost base of the Shares exchanged therefor and any reasonable costs associated with the disposition and will acquire the Denison Shares at a cost equal to their fair market value at the time of the
exchange. Such cost will be averaged with the adjusted cost base of any other Denison Shares held by the Resident Shareholder as capital property for purposes of determining the adjusted cost base of
each Denison Share held by the Resident Shareholder. Such capital gains (or&nbsp;capital losses) will be subject to the tax treatment described below under "Taxation of Capital Gains and Capital
Losses". </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>52</FONT></P>

<HR NOSHADE>
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<A NAME="page_dq40303_1_53"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Taxation of Capital Gains and Capital Losses  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally, a Resident Shareholder will be required to include in computing its income for a taxation year one-half of the amount of any
capital gain (a&nbsp;"taxable capital gain") realized by it in that year. A Resident Shareholder will be required to deduct one-half of the amount of any capital loss (an&nbsp;"allowable capital
loss") realized in a taxation year from taxable capital gains realized by the Resident Shareholder in that year. Allowable capital losses in excess of taxable capital gains realized in a taxation year
may be carried back to any of the three preceding taxation years or carried forward to any subsequent taxation year and deducted against net taxable capital gains realized in such years, subject to
and in accordance with the detailed rules contained in the Tax&nbsp;Act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
amount of any capital loss realized on the disposition of a Share or a Denison Share by a Resident Shareholder that is a corporation may, to the extent and under the circumstances
specified by the Tax&nbsp;Act, be reduced by the amount of any dividends received or deemed to have been received by the corporation on such share (or&nbsp;on a share for which such share is
substituted or exchanged). Similar rules may apply where shares are owned by a partnership or trust of which a corporation, trust or partnership is a member or beneficiary. Resident Shareholders to
whom these rules may be relevant should consult their own&nbsp;advisors. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Resident Shareholder that is throughout the year a "Canadian-controlled private corporation", as defined in the Tax&nbsp;Act, may be liable to pay an additional refundable tax on
certain investment income, including taxable capital gains realized, interest and certain dividends. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital
gains realized by individuals, other than certain trusts, may give rise to a liability for alternative minimum tax under the Tax&nbsp;Act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Disposition of Shares Pursuant to a Compulsory Acquisition or a Compelled Acquisition  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described in Section&nbsp;9 of the Circular, "Acquisition of Shares Not Deposited", Denison may, in certain circumstances, acquire
Shares pursuant to a Compulsory Acquisition or a Compelled Acquisition. The tax consequences to a Resident Shareholder of a disposition of Shares in such circumstances will generally be as described
above under the subheading "Residents of Canada&nbsp;&#151;&nbsp;Exchange of Shares for Denison Shares Pursuant to the&nbsp;Offer". </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
interest (whether awarded by the Court or otherwise) paid to a Resident Shareholder in connection with a Compulsory Acquisition must be included in computing the Resident
Shareholder's income for the purposes of the Tax&nbsp;Act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resident
Shareholders should consult their own tax advisors with respect to the potential income tax consequences to them of having their Shares acquired pursuant to a Compulsory
Acquisition or Compelled Acquisition. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Disposition of Shares Pursuant to a Subsequent Acquisition Transaction  </I></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Subsequent Acquisition Transaction", if Denison takes up and pays for Shares validly deposited under the Offer, and Denison is unable, or elects not,
to effect a Compulsory Acquisition, Denison will evaluate other alternatives to acquire all of the Shares not deposited under the Offer. As described in Section&nbsp;9 of the Circular, "Acquisition
of Shares Not Deposited&nbsp;&#151;&nbsp;Subsequent Acquisition Transaction", Denison currently intends that the consideration offered under any Subsequent Acquisition
Transaction proposed by it would be equal in value to, and in the same form as, the consideration per Share paid to the Shareholders under the&nbsp;Offer. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
tax consequences of a Subsequent Acquisition Transaction to a Resident Shareholder will depend upon the exact manner in which the Subsequent Acquisition Transaction is carried out.
Denison may propose a </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>53</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>statutory
arrangement, amalgamation, merger, reorganization, share consolidation, recapitalization or similar transaction. Depending on the form of the Subsequent Acquisition Transaction, a Resident
Shareholder may realize a capital gain or capital loss and/or be deemed to receive a dividend. No opinion is expressed herein as to the tax consequences of any such Subsequent Acquisition Transaction
to a Resident Shareholder. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resident
Shareholders should consult their own tax advisors for advice with respect to the potential tax consequences to them of having their Shares acquired pursuant to a Subsequent
Acquisition Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Potential Delisting of Shares  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described in Section&nbsp;15 of the Circular, "Effect of the Offer on the Market for and Listing of Shares and Status as a
Reporting Issuer", the Shares may cease to be listed on the TSX following the completion of the Offer or, as applicable, a Compulsory Acquisition or a Compelled Acquisition or a Subsequent Acquisition
Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resident
Shareholders who do not dispose of their Shares pursuant to the Offer are cautioned that, if the Shares are no longer listed on a "designated stock exchange" (as&nbsp;defined
in the Tax&nbsp;Act and currently includes the TSX) and Rockgate ceases to be a "public corporation" for purposes of the Tax&nbsp;Act, the Shares will not be "qualified investments"
(as&nbsp;defined in the Tax&nbsp;Act) for trusts governed by registered retirement savings plans ("</FONT><FONT SIZE=2><B>RRSPs</B></FONT><FONT SIZE=2>"), registered retirement income funds
("</FONT><FONT SIZE=2><B>RRIFs</B></FONT><FONT SIZE=2>"), registered education savings plans, registered disability savings plans, deferred profit sharing plans and tax-free savings accounts
("</FONT><FONT SIZE=2><B>TFSAs</B></FONT><FONT SIZE=2>") (as&nbsp;each term is defined in the Tax&nbsp;Act). Resident Shareholders who hold the Shares in such trusts should consult their own tax
advisors with respect to the potential tax consequences to them in this&nbsp;regard. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Taxation of Dividends on, and the Disposition of, Denison Shares  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends received or deemed to be received on Denison Shares by a Resident Shareholder that is an individual (including a trust) will
be included in computing the individual's income for tax purposes and will be subject to the gross-up and dividend tax credit rules normally applicable to dividends received from "taxable Canadian
corporations" (as&nbsp;defined in the Tax&nbsp;Act). A dividend will be eligible for the enhanced gross-up and dividend tax credit for "eligible dividends" (as&nbsp;defined in the
Tax&nbsp;Act) paid by taxable Canadian corporations, to the extent that such dividend is designated by Denison as an eligible dividend. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable
dividends received by individuals, other than certain trusts, may give rise to a liability for alternative minimum tax under the Tax&nbsp;Act. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Resident Shareholder that is a corporation will include dividends received or deemed to be received on Denison Shares in computing its income for tax purposes and generally will be
entitled to deduct the amount of such dividends in computing its taxable&nbsp;income. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
corporations, including "private corporations" or "subject corporations" (as&nbsp;such terms are defined in the Tax&nbsp;Act), may be liable to pay a refundable tax under
Part&nbsp;IV of the Tax&nbsp;Act at the rate of 33<SUP>1</SUP>/<SMALL>3</SMALL>% of the dividends received or deemed to be received on Denison Shares to the extent that such dividends are deductible in
computing taxable&nbsp;income. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
disposition or deemed disposition of Denison Shares by a Resident Shareholder (other than to Denison) will generally result in a capital gain (or&nbsp;capital loss) equal to the
amount by which the proceeds of disposition, net of any reasonable costs of disposition, exceed (or&nbsp;are less than) the adjusted cost base to the holder of those shares immediately before the
disposition. See "Residents of Canada&nbsp;&#151;&nbsp;Taxation of Capital Gains and Capital Losses" above for a general description of the treatment of capital gains and
capital losses under the Tax&nbsp;Act. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>54</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Eligibility of Denison Shares for Investment  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison Shares will be "qualified investments" under the Tax&nbsp;Act for a trust governed by an RRSP, an RRIF, a registered
education savings plan, a registered disability savings plan, a deferred profit sharing plan or a TFSA, at any particular time, provided that, at that time, the Denison Shares are listed on a
"designated stock exchange" (which currently includes the TSX) or Denison is a "public corporation" as defined in the Tax&nbsp;Act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
that the Denison Shares may be qualified investments for a trust governed by a TFSA, RRSP or RRIF, the holder of a TFSA or an annuitant of a RRSP or RRIF, as applicable,
will be subject to a penalty tax under the Tax&nbsp;Act in respect of Denison Shares held in a TFSA, RRSP or RRIF, as applicable, if such Denison Shares are a "prohibited investment"
(as&nbsp;defined in the Tax&nbsp;Act) for such plan. The Denison Shares generally will not be prohibited investments unless the holder or annuitant, as the case may be, (i)&nbsp;does not deal at
arm's length with Denison for purposes of the Tax&nbsp;Act, or (ii)&nbsp;has a "significant interest" (for&nbsp;purposes of the prohibited investment rules in the Tax&nbsp;Act) in
(A)&nbsp;Denison or (B)&nbsp;a corporation, partnership or trust with which Denison does not deal at arm's length. The Department of Finance (Canada) released proposed amendments to the
Tax&nbsp;Act on December&nbsp;21, 2012 (the&nbsp;"</FONT><FONT SIZE=2><B>December&nbsp;2012 Proposals</B></FONT><FONT SIZE=2>") that
would, if enacted, delete the condition in (ii)(B) above. There can be no assurances that the December&nbsp;2012 Proposals will be enacted in their current proposed form or at&nbsp;all. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prospective
investors who intend to hold Denison Shares in a TFSA, RRSP or RRIF should consult their own tax advisors regarding their particular circumstances, including having regard to
the December&nbsp;2012&nbsp;Proposals. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Non-Residents of Canada  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following portion of this summary is generally applicable to a Shareholder who at all relevant times, for the purposes of the
Tax&nbsp;Act and any applicable tax treaty or convention, is neither resident, nor deemed to be resident, in Canada, and does not use or hold, and is not deemed to use or hold, Shares, and will not
hold or be deemed to use or hold Denison Shares, in connection with carrying on a business in Canada (a&nbsp;"Non-Resident Shareholder"). </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special
rules, which are not discussed in this summary, may apply to a Non-Resident Shareholder that is an insurer that carries on an insurance business in Canada and elsewhere. Such
Non-Resident Shareholders are advised to consult with their own tax&nbsp;advisors. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Exchange of Shares for Denison Shares Pursuant to the Offer  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Non-Resident Shareholder will not be subject to tax under the Tax&nbsp;Act in respect of any capital gain realized on the
disposition of Shares to Denison under the Offer unless (i)&nbsp;the Shares at the time of their disposition constitute "taxable Canadian property" (as&nbsp;defined in the Tax&nbsp;Act) to the
Non-Resident Shareholder at the time of the exchange and (ii)&nbsp;the Non-Resident Shareholder is not exempt from taxation in Canada on the disposition of the Shares under the terms of an
applicable tax treaty or&nbsp;convention. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provided
the Shares are listed on a "designated stock exchange" (as&nbsp;defined in the Tax&nbsp;Act and which includes the TSX) at the time of disposition, the Shares generally will
not constitute taxable Canadian property of a Non-Resident Shareholder at that time unless, at any time during the 60&nbsp;month period immediately preceding the disposition, the following two
conditions have been met concurrently: (i)&nbsp;the Non-Resident Shareholder, persons with whom the Non-Resident Shareholder did not deal at arm's length, or the Non-Resident Shareholder together
with all such persons, owned 25% or more of the issued shares of any class or series of shares of Rockgate; and (ii)&nbsp;more than 50% of the fair market value of the shares of Rockgate was derived
directly or indirectly from one or any combination of real or immovable property situated in Canada, "Canadian resource properties" (as&nbsp;defined in the Tax&nbsp;Act), "timber resource
properties" (as&nbsp;defined in the Tax&nbsp;Act) or an option, an interest or right in such property, whether or not such property exists. Notwithstanding </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>55</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>the
foregoing, in certain circumstances set out in the Tax&nbsp;Act, a Share could be deemed to be taxable Canadian property of the Non-Resident Shareholder. Pursuant to Tax Proposals released
July&nbsp;12, 2013, the ownership test will include Shares held by a partnership in which the Non-Resident Shareholder or any non-arm's length person holds a membership interest (either directly or
indirectly through one or more partnerships). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the Shares constitute taxable Canadian property but not treaty-protected property to a particular Non-Resident Shareholder on the disposition thereof pursuant to the
Offer, the disposition thereof will generally be subject to the same treatment as described above under "Residents of Canada&nbsp;&#151;&nbsp;Exchange of Shares for Denison
Shares Pursuant to the Offer". Where a Non-Resident Shareholder's Shares are taxable Canadian property and the Non-Resident Shareholder does not choose to recognize a capital gain (or&nbsp;capital
loss) on the exchange of such Shares for Denison Shares pursuant to the Offer, the Denison Shares received in exchange for such Shares will be deemed to be taxable Canadian property to such
Non-Resident Shareholder. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Resident
Shareholders should consult their own tax advisors with respect to the potential tax consequences to them of exchanging their Shares for Denison Shares pursuant to the Offer
having regard to their particular circumstances. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Disposition of Shares Pursuant to a Compulsory Acquisition or a Compelled Acquisition  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described in Section&nbsp;9 of the Circular, "Acquisition of Shares Not Deposited", Denison may, in certain circumstances, acquire
Shares pursuant to a Compulsory Acquisition or a Compelled Acquisition. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the discussion below under "Non-Residents of Canada&nbsp;&#151;&nbsp;Potential Delisting of the Shares", the tax consequences to a Non-Resident
Shareholder who disposes of Shares in such circumstances generally will be the same as described under "Non-Residents of Canada&nbsp;&#151;&nbsp;Exchange of Shares for Denison
Shares Pursuant to the&nbsp;Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally,
where interest is paid or credited to a Non-Resident Shareholder in connection with a Compulsory Acquisition, the Non-Resident Shareholder will not be subject to Canadian
withholding tax on such interest under the Tax&nbsp;Act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Resident
Shareholders should consult their own tax advisors with respect to the potential tax consequences to them of having their Shares acquired pursuant to a Compulsory
Acquisition or a Compelled Acquisition. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Disposition of Shares Pursuant to a Subsequent Acquisition Transaction  </I></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described in Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Subsequent Acquisition Transaction", if Denison takes up and pays for Shares validly deposited under the Offer, and Denison is unable, or elects not,
to effect a Compulsory Acquisition, Denison will evaluate other alternatives to acquire all of the Shares not deposited under the Offer. As described in Section&nbsp;9 of the Circular, "Acquisition
of Shares Not Deposited&nbsp;&#151;&nbsp;Subsequent Acquisition Transaction", Denison currently intends that the consideration offered under any Subsequent Acquisition
Transaction proposed by it would be equal in value to, and in the same form as, the consideration per Share paid to the Shareholders under the&nbsp;Offer. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
tax consequences of a Subsequent Acquisition Transaction to a Non-Resident Shareholder will depend upon the exact manner in which the Subsequent Acquisition Transaction is carried
out and may be substantially the same as, or materially different from, those described above. See below under "Non-Residents of Canada&nbsp;&#151;&nbsp;Potential Delisting of
the Shares" in the case where the Shares are delisted prior to a Subsequent Acquisition Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Non-Resident Shareholder may realize a capital gain or a capital loss and/or be deemed to receive a dividend pursuant to a Subsequent Acquisition Transaction, as discussed above under
"Residents of Canada&nbsp;&#151;&nbsp;</FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>56</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>Disposition
of Shares Pursuant to a Subsequent Acquisition Transaction". Whether or not a Non-Resident Shareholder would be subject to tax under the Tax&nbsp;Act on any such capital gain would
generally depend on whether the Shares are "taxable Canadian property" of the Non-Resident Shareholder for purposes of the Tax&nbsp;Act at the time of the disposition and whether the Non-Resident
Shareholder is entitled to relief under an applicable tax treaty or convention. No opinion is expressed herein as to the tax consequences of any such Subsequent Acquisition Transaction to a
Non-Resident Shareholder. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends
paid or deemed to be paid or credited to a Non-Resident Shareholder will be subject to Canadian withholding tax at a rate of 25%, subject to any reduction in the rate of
withholding to which the Non-Resident Shareholder is entitled under any applicable income tax treaty or convention that is in force at the time of the payment, credit or deemed payment of such
dividends. For example, under the Canada-
United&nbsp;States Tax Convention (1980), as amended (the&nbsp;"</FONT><FONT SIZE=2><B>Convention</B></FONT><FONT SIZE=2>"), where dividends are paid to or derived by a Non-Resident Shareholder
who is a U.S.&nbsp;resident for purposes of, and who is entitled to benefits in accordance with the provisions of, the Convention, the applicable rate of Canadian withholding tax is generally
reduced to&nbsp;15%. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally,
where interest is paid or credited to a Non-Resident Shareholder in connection with a Subsequent Acquisition Transaction, the Non-Resident Shareholder will not be subject to
Canadian withholding tax on such interest under the Tax&nbsp;Act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Resident
Shareholders should consult their own tax advisors for advice with respect to the potential tax consequences to them of having their Shares acquired pursuant to a Subsequent
Acquisition Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Potential Delisting of the Shares  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described in Section&nbsp;15 of the Circular, "Effect of the Offer on the Market for and Listing of Shares and Status as a
Reporting Issuer", the Shares may cease to be listed on the TSX following the completion of the Offer or, as applicable, a Compulsory Acquisition or a Compelled Acquisition or a Subsequent Acquisition
Transaction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Resident
Shareholders who do not dispose of their Shares pursuant to the Offer are cautioned that if the Shares are not listed on a designated stock exchange at the time of their
disposition, the Shares may constitute taxable Canadian property if, at any time during the 60-month period immediately preceding the disposition, more than 50% of the fair market value of the Shares
was derived directly or indirectly from one or any combination of real or immovable property situated in Canada, "Canadian resource properties" (as&nbsp;defined in the Tax&nbsp;Act), "timber
resource properties" (as&nbsp;defined in the Tax&nbsp;Act), and options in respect of, or interests in, or for civil law rights in, any of the foregoing properties (whether or not such property
exists). Notwithstanding the foregoing, in certain circumstances set out in the Tax&nbsp;Act, the Shares could also be deemed to be taxable Canadian property to the Non-Resident Shareholder.
Non-Resident Shareholders should consult their own tax advisors for advice as to whether their Shares constitute taxable Canadian property, having regard to their particular circumstances. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Shares are taxable Canadian property of the Non-Resident Shareholder at the time of their disposition and are not treaty-protected property of the Non-Resident Shareholder for
purposes of the Tax&nbsp;Act, the Non-Resident Shareholder may be subject to tax under the Tax&nbsp;Act in respect of any capital gain realized on the disposition. Furthermore, if the Shares are
not listed on a recognized stock exchange at the time of their disposition and are not treaty-protected property of the Non-Resident Shareholder for purposes of the Tax&nbsp;Act, the notification
and withholding provisions of section&nbsp;116 of the Tax&nbsp;Act will apply to the Non-Resident Shareholder with the result that, among other things, unless Denison has received a clearance
certificate, pursuant to section&nbsp;116 of the Tax&nbsp;Act, relating to the disposition of a Non-Resident Shareholder's Shares, Denison may deduct or withhold 25% from any payment made to the
Non-Resident Shareholder and will remit such amount to the Receiver General of Canada on account of the Non-Resident Shareholder's liability for tax under the Tax&nbsp;Act. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>57</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Resident
Shareholders should consult their own tax advisors with respect to the potential tax consequences to them of not disposing of their Shares under the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Taxation of Dividends on and the Disposition of Denison Shares  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid or deemed to be paid or credited to a Non-Resident Shareholder on Denison Shares will be subject to Canadian withholding
tax at a rate of 25%, subject to any reduction in the rate of withholding to which the Non-Resident Shareholder is entitled under any applicable tax treaty or convention that is in force at the time
of the payment, credit or deemed payment of such&nbsp;dividends. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Non-Resident Shareholder will not be subject to tax under the Tax&nbsp;Act in respect of any capital gain realized on a disposition or deemed disposition of Denison Shares unless
(i)&nbsp;the Denison Shares constitute "taxable Canadian property" of the Non-Resident Shareholder at the time of the disposition and (ii)&nbsp;the Non-Resident Shareholder is not exempt from
taxation in Canada on the disposition of the Denison Shares under the terms of an applicable tax treaty or convention. The circumstances in which Denison Shares may constitute taxable Canadian
property and the implications to a Non-Resident Shareholder of Denison Shares constituting taxable Canadian property will generally be the same as discussed above in respect of the Shares under the
subheading "Non-Residents of Canada&nbsp;&#151;&nbsp;Exchange of Shares for Denison Shares Pursuant to the&nbsp;Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>20.&nbsp;&nbsp;&nbsp;Certain United&nbsp;States Federal Income Tax Considerations  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNITED STATES TREASURY DEPARTMENT CIRCULAR 230&nbsp;NOTICE: TO ENSURE COMPLIANCE WITH INTERNAL REVENUE SERVICE CIRCULAR 230, SHAREHOLDERS ARE HEREBY NOTIFIED
THAT: (A)&nbsp;ANY DISCUSSION OF UNITED STATES FEDERAL TAX ISSUES CONTAINED OR REFERRED TO IN THIS CIRCULAR OR IN ANY DOCUMENT REFERRED TO HEREIN IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE
USED BY SHAREHOLDERS, FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON THEM UNDER THE UNITED STATES INTERNAL REVENUE CODE OF&nbsp;1986, AS AMENDED; (B)&nbsp;SUCH DISCUSSION IS WRITTEN
FOR USE IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE TRANSACTIONS OR MATTERS ADDRESSED HEREIN; AND (C)&nbsp;SHAREHOLDERS SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX&nbsp;ADVISOR. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following is a summary of certain material U.S.&nbsp;federal income tax consequences of the disposition of Shares and SRP Rights by a U.S.&nbsp;Shareholder (as&nbsp;defined
below) pursuant to the Offer and the ownership and disposition of Denison Shares received pursuant to the Offer. This summary is limited to persons that hold their Shares and SRP Rights and that will
hold their Denison Shares as "capital assets" within the meaning of section&nbsp;1221 of the Code. The discussion does not cover all aspects of U.S.&nbsp;federal income taxation that may be
relevant to the disposition of Shares and SRP Rights or the ownership and disposition of Denison Shares by particular investors, and it does not address state, local, U.S.&nbsp;estate or gift tax,
or non-U.S. or other tax laws. This summary also does not address tax considerations applicable to investors that own (or&nbsp;will own after the consummation of the Offer), directly or indirectly,
actually or constructively, 10% or more, by voting power or value, of Rockgate or Denison, nor does this summary discuss all of the U.S.&nbsp;tax considerations that may be relevant to certain types
of investors subject to special treatment under the U.S.&nbsp;federal income tax laws (such as U.S.&nbsp;expatriates, financial institutions, insurance companies, investors liable for the
alternative minimum tax, individual retirement accounts and other tax-deferred accounts, tax-exempt organizations, dealers in securities or currencies, investors that hold or will hold the Shares and
SRP Rights or Denison Shares as part of straddles, hedging transactions or conversion transactions for U.S.&nbsp;federal income tax purposes, investors whose functional currency is not the
U.S.&nbsp;dollar or persons who acquired their Shares and SRP Rights through the exercise of stock options or otherwise as compensation). The discussion does not address the U.S.&nbsp;federal
income tax consequences to holders of Options or Warrants. U.S.&nbsp;Shareholders are urged to consult their own tax advisors </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>58</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>with
respect to the U.S.&nbsp;federal, state and local income taxes, U.S.&nbsp;estate and gift tax, and non-U.S.&nbsp;tax consequences to their particular situations of the Offer or other
transactions described in Section&nbsp;9 of the Circular, "Acquisition of Shares Not&nbsp;Deposited". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
used herein, the term "U.S.&nbsp;Shareholder" means a beneficial owner of Shares and SRP Rights that is (a)&nbsp;a citizen or resident alien of the United&nbsp;States for
U.S.&nbsp;federal income tax purposes, (b)&nbsp;a corporation or other entity taxable as a corporation created or organized under the laws of the United&nbsp;States, any State thereof or the
District of Columbia, (c)&nbsp;an estate the income of which is subject to U.S.&nbsp;federal income tax without regard to its source or (d)&nbsp;a trust if a court within the
United&nbsp;States is able to exercise primary supervision over the administration of the trust and one or more U.S.&nbsp;persons have the authority to control all substantial decisions of the
trust, or the trust has a valid election in effect to be treated as a domestic trust for U.S.&nbsp;federal income tax purposes. As used herein, the term "Non-U.S.&nbsp;Shareholder" means a
beneficial owner of Shares that is not a U.S.&nbsp;Shareholder and that is, for U.S.&nbsp;federal income tax purposes, an individual, corporation, estate or&nbsp;trust. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
summary does not address the U.S.&nbsp;federal income tax consequences applicable to Non-U.S.&nbsp;Shareholders arising from the Offer or the ownership or disposition of Denison
Shares received pursuant to the Offer. Accordingly, a Non-U.S.&nbsp;Shareholder should consult its own tax advisor regarding the U.S.&nbsp;federal, U.S.&nbsp;federal alternative minimum,
U.S.&nbsp;federal estate and gift, U.S.&nbsp;state and local tax, and foreign tax consequences (including the potential application of and operation of any income tax treaties) relating to the
Offer and the ownership and disposition of Denison Shares received pursuant to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
U.S.&nbsp;federal income tax treatment of a partner in a partnership (or&nbsp;an owner of a pass-through entity) that holds or will hold Shares and SRP Rights or Denison Shares
will depend on the status of the partner (or&nbsp;other owner) and the activities of the partnership (or&nbsp;pass-through entity). U.S.&nbsp;Shareholders that are partnerships or other
pass-through entities should consult their own tax advisors concerning the U.S.&nbsp;federal income tax consequences to the entity and to its equity owners of the disposition of Shares and SRP
Rights and the ownership and disposition of Denison Shares received pursuant to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
summary is based on the tax laws of the United&nbsp;States, including the Internal Revenue Code of 1986, as amended
(the&nbsp;"</FONT><FONT SIZE=2><B>Code</B></FONT><FONT SIZE=2>"), its legislative history, existing and proposed regulations thereunder, published rulings, the Convention and court decisions, all
as of the date hereof and all subject to change at any time, possibly with retroactive effect. No ruling will be requested from the Internal Revenue Service
(the&nbsp;"</FONT><FONT SIZE=2><B>IRS</B></FONT><FONT SIZE=2>") regarding the tax consequences of the Offer and there can be no assurance that the Internal Revenue Service will agree with the
discussion set out&nbsp;below. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE
SUMMARY OF U.S.&nbsp;FEDERAL INCOME TAX CONSEQUENCES SET OUT BELOW IS FOR GENERAL INFORMATION ONLY. ALL SHAREHOLDERS SHOULD CONSULT THEIR OWN TAX ADVISORS AS TO THE PARTICULAR TAX
CONSEQUENCES TO THEM OF DISPOSING OF THE SHARES AND SRP RIGHTS PURSUANT TO THE OFFER AND THE OWNERSHIP AND DISPOSITION OF THE DENISON SHARES RECEIVED PURSUANT TO THE OFFER, INCLUDING THE APPLICABILITY
AND EFFECT OF STATE AND LOCAL INCOME TAXES, NON-U.S., ESTATE AND GIFT, AND OTHER TAX LAWS AND POSSIBLE CHANGES IN TAX&nbsp;LAW. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Potential Treatment of Rockgate as a PFIC  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain adverse U.S.&nbsp;federal income tax rules may apply to a U.S.&nbsp;Shareholder that owns or disposes of shares in a
non-U.S.&nbsp;corporation that is treated as a passive foreign investment company ("</FONT><FONT SIZE=2><B>PFIC</B></FONT><FONT SIZE=2>"). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
potential adverse U.S.&nbsp;federal income tax consequences if Rockgate is or has been a PFIC are discussed below under "&#151;&nbsp;Passive Foreign Investment
Company Considerations." If Rockgate is, or has been, a PFIC, the adverse U.S.&nbsp;federal income tax consequences described below may be mitigated if the U.S.&nbsp;Shareholder properly and
timely made a valid qualified electing fund ("</FONT><FONT SIZE=2><B>QEF</B></FONT><FONT SIZE=2>") or mark-to-market election </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>59</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>with
respect to its Shares. As discussed more fully below under "&#151;&nbsp;Passive Foreign Investment Company Considerations," Rockgate may have been a PFIC in prior taxable years and
may be a PFIC for the current taxable year; however, the determination of whether or not Rockgate is a PFIC is based on the
application of complex U.S.&nbsp;federal income tax rules, and Denison has not made a determination of whether Rockgate is or has been a&nbsp;PFIC. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Disposition of Shares and SRP Rights Pursuant to the Offer  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The determination of whether the Offer will qualify as a tax-deferred "reorganization" within the meaning of section&nbsp;368(a) of
the Code (a&nbsp;"Reorganization") depends on the resolution of complex issues and facts, some of which will not be known until the closing of the Offer and Compulsory Acquisition or Subsequent
Acquisition Transaction, and as a result, it is uncertain as to whether the Offer will qualify as a Reorganization or a fully taxable transaction. Denison has not determined how any Subsequent
Acquisition Transaction will be structured, and as of the date of this Circular, Denison does not expect that the U.S.&nbsp;federal income tax consequences to U.S.&nbsp;Shareholders will be a
significant factor in determining the structure of any such Subsequent Acquisition Transaction. As described in detail below, even if the Offer qualifies as a Reorganization, the PFIC rules may
require a U.S.&nbsp;Shareholder to fully recognize gain (but&nbsp;not loss) if Rockgate is considered a PFIC with respect to a particular U.S.&nbsp;Shareholder. All U.S.&nbsp;Shareholders
should consult their own tax advisors regarding the specific U.S.&nbsp;federal income tax consequences of the Offer that are applicable to&nbsp;them. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Tax Consequences if the Offer Qualifies as a Reorganization  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Offer qualifies as a Reorganization, and the PFIC rules discussed below do not apply, then the following U.S.&nbsp;federal
income tax consequences will result for U.S.&nbsp;Shareholders: (a)&nbsp;no gain or loss will be recognized by a U.S.&nbsp;Shareholder on the exchange of Shares and SRP Rights for Denison Shares
pursuant to the Offer; (b)&nbsp;the tax basis of a U.S.&nbsp;Shareholder in the Denison Shares acquired in exchange for Shares and SRP Rights pursuant to the Offer will be equal to such
U.S.&nbsp;Shareholder's tax basis in the Shares and SRP Rights exchanged; (c)&nbsp;the holding period of a U.S.&nbsp;Shareholder for the Denison Shares acquired in exchange for Shares and SRP
Rights pursuant to the Offer will include such U.S.&nbsp;Shareholder's holding period for such Shares and SRP Rights; and (d)&nbsp;U.S.&nbsp;Shareholders who exchange Shares and SRP Rights for
Denison Shares pursuant to the Offer generally will be required to report certain information to the IRS on their U.S.&nbsp;federal income tax returns for the tax year in which the Offer occurs, and
to retain certain records related to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, U.S.&nbsp;Shareholders that will own directly or indirectly, actually or constructively, 5% or more of the vote or value of Denison immediately following
the exchange of Shares and SRP Rights for Denison Shares may be required to enter into a five-year gain recognition agreement (a&nbsp;"GRA") under Section&nbsp;367(a) of the Code with the IRS with
respect to the transferred Shares and SRP Rights in order to qualify for non-recognition of gain as described above. U.S.&nbsp;Shareholders that may own 5% or more of the vote or value of Denison
immediately following the exchange should consult their own tax advisors regarding the specific U.S.&nbsp;federal income tax consequences of the Offer, including the effects of entering into
a&nbsp;GRA. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Treatment of the Offer as a Taxable Transaction  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Offer does not qualify as a Reorganization for U.S.&nbsp;federal income tax purposes, subject to the PFIC rules discussed
below, upon a disposition of Shares and SRP Rights in the Offer, a U.S.&nbsp;Shareholder generally will recognize capital gain or loss for U.S.&nbsp;federal income tax purposes equal to the
difference, if any, between (a)&nbsp;the amount realized on the disposition and (b)&nbsp;the U.S.&nbsp;Shareholder's adjusted tax basis in the Shares and SRP Rights sold in the Offer. This
capital gain or loss will be long-term capital gain or loss if the U.S.&nbsp;Shareholder's holding period in the Shares and SRP Rights exceeds one year. The amount realized on the disposition by a
U.S.&nbsp;Shareholder will be the fair market value (in&nbsp;U.S.&nbsp;dollars) of Denison Shares received. A U.S.&nbsp;Shareholder's adjusted tax basis in a Share and SRP Right will generally
be its U.S.&nbsp;dollar cost. The tax basis of a Share and SRP Right that are purchased by a cash basis U.S.&nbsp;Shareholder (or&nbsp;an accrual basis </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>60</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>U.S.&nbsp;Shareholder
that so elects) with foreign currency will generally be the U.S.&nbsp;dollar value of the purchase price on the date of purchase, or the settlement date for the purchase.
Such an election by an accrual basis U.S.&nbsp;Shareholder must be applied consistently from year to year and cannot be revoked without the consent of the&nbsp;IRS. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
gain or loss recognized on the disposition of the Shares and SRP Rights (as&nbsp;described above) will generally be U.S.&nbsp;source. Therefore, a U.S.&nbsp;Shareholder may
have insufficient foreign source income to utilize foreign tax credits attributable to any Canadian withholding tax imposed on a disposition. U.S.&nbsp;Shareholders should consult their own tax
advisors as to the availability of and limitations on any foreign tax credit attributable to this Canadian withholding&nbsp;tax. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Disposition of Shares and SRP Rights Not Pursuant to the Offer  </I></B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Disposition of Shares and SRP Rights Pursuant to a Compulsory Acquisition  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described under Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Compulsory Acquisition," Denison may, in certain circumstances, acquire Shares
and SRP Rights not deposited under the Offer pursuant to a Compulsory Acquisition. The tax consequences to a U.S.&nbsp;Shareholder of a disposition of Shares and SRP Rights pursuant to a Compulsory
Acquisition generally will be as described under the heading "&#151;&nbsp;Disposition of Shares and SRP Rights Pursuant to the Offer." If, however, pursuant to a Compulsory Acquisition,
the Court orders Denison to buy Shares and SRP Rights from a Dissenting Offeree that is a U.S.&nbsp;Shareholder at a price different than that set forth in the Offer, the tax consequences to such
U.S.&nbsp;Shareholder may be different than those discussed above. This summary does not describe the tax consequences of any such transaction to a U.S.&nbsp;Shareholder. U.S.&nbsp;Shareholders
should consult their own tax advisors for advice with respect to the U.S.&nbsp;federal income tax consequences to them of having their Shares and SRP Rights acquired pursuant to a Compulsory
Acquisition. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Disposition of Shares and SRP Rights Pursuant to a Compelled Acquisition  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As described under Section&nbsp;9 of the Circular, "Acquisition of Shares Not
Deposited&nbsp;&#151;&nbsp;Compelled Acquisition," a U.S.&nbsp;Shareholder may, in certain circumstances, have the right to require Denison to purchase such
U.S.&nbsp;Shareholder's Shares and SRP Rights pursuant to a Compelled Acquisition for the same price and on the same terms contained in the Offer. The tax consequences to a U.S.&nbsp;Shareholder
of a disposition of Shares and SRP Rights pursuant to a Compelled Acquisition generally will be as described under the heading "&#151;&nbsp;Disposition of Shares and SRP Rights Pursuant
to the Offer." U.S.&nbsp;Shareholders should consult their own tax advisors for advice with respect to the U.S.&nbsp;federal income tax consequences to them of having their Shares and SRP Rights
acquired pursuant to a Compelled Acquisition. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Disposition of Shares and SRP Rights Pursuant to a Subsequent Acquisition Transaction  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Denison is unable to effect a Compelled Acquisition or if Denison elects not to proceed with a Compulsory Acquisition, then Denison
may propose a Subsequent Acquisition Transaction as described in Section&nbsp;9 of the Circular, "Acquisition of Shares Not Deposited&nbsp;&#151;&nbsp;Subsequent Acquisition
Transaction." The U.S.&nbsp;federal income tax consequences resulting therefrom will depend upon the manner in which the transaction is carried out. U.S.&nbsp;Shareholders should consult their own
tax advisors with respect to the income tax consequences to them of having their Shares and SRP Rights acquired pursuant to a Subsequent Acquisition Transaction. This summary does not describe the tax
consequences of any such transaction to a U.S.&nbsp;Shareholder. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>61</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Passive Foreign Investment Company Considerations  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In general, Rockgate would be a PFIC for any taxable year if, for such taxable year, 75% or more of its gross income constituted
"passive income" (the&nbsp;"</FONT><FONT SIZE=2><B>income test</B></FONT><FONT SIZE=2>") or 50% or more of the value of its assets (based on an average of the quarterly value of the assets during
the taxable year) is attributable to assets that produced, or were held for the production of, passive income (the&nbsp;"</FONT><FONT SIZE=2><B>asset test</B></FONT><FONT SIZE=2>"). "Passive
income" generally includes, among other things, dividends, interest, certain royalties, rents, gains from commodities transactions (unless an active commodities business exception applies), gains from
securities transactions, and gains from the sale or exchange of property that gives rise to passive income. For purposes of the PFIC income and asset tests described above, if Rockgate owns, directly
or indirectly, 25% or more of the total value of the outstanding shares of another corporation, Rockgate will be treated as if it (a)&nbsp;held a proportionate share of the assets of such other
corporation and (b)&nbsp;received directly a proportionate share of the income of such other corporation. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;According
to Rockgate's recent public filings contained on SEDAR, and based on past and current operations and financial projections, Rockgate may have been a PFIC in prior taxable years
and may be a PFIC for the current taxable year. The determination of whether or not Rockgate is a PFIC is based on the application of complex U.S.&nbsp;federal income tax rules, which are subject to
differing interpretations. Denison has not made a determination of whether Rockgate is or has been a PFIC. In addition, there can be no assurance that the IRS will not challenge a determination made
with respect to Rockgate concerning its PFIC&nbsp;status. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Absent
application of the "PFIC-for-PFIC Exception" discussed below, if Rockgate is or has been a PFIC during any year in which a U.S.&nbsp;Shareholder held Shares and the
U.S.&nbsp;Shareholder did not timely elect to be taxable currently on its pro&nbsp;rata share of Rockgate's earnings under the QEF rules (discussed below) or to be taxed on a "mark to market"
basis with respect to its Shares (discussed below), special rules may increase such U.S.&nbsp;Shareholder's U.S.&nbsp;federal income tax liability with respect to the Offer. Under the default
PFIC&nbsp;rules:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any gain (but&nbsp;not loss) realized by a U.S.&nbsp;Shareholder on the disposition of Shares pursuant to the Offer
will be recognized for U.S.&nbsp;federal income tax purposes even if the Offer qualifies as a Reorganization as discussed above; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any gain on the sale, exchange or other disposition of Shares and any "excess distribution" (generally, any distribution
to a Shareholder during a single taxable year that is greater than 125% of the average annual distributions made to such Shareholder during the three preceding taxable years or, if shorter, during its
holding period for the Shares) will be allocated rateably over such U.S.&nbsp;Shareholder's holding&nbsp;period; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the amount allocated to the current tax year and any year prior to the first year in which Rockgate was classified as a
PFIC will be taxed as ordinary income in the current&nbsp;year; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the amount allocated to each of the other tax years will be subject to tax at the highest rate of tax in effect for the
applicable class of taxpayer for that year;&nbsp;and </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>an interest charge for a deemed deferral benefit will be imposed with respect to the resulting tax attributable to each of
the other tax years, which interest charge is not deductible by non-corporate U.S.&nbsp;Shareholders. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, if Rockgate is a PFIC and owns, directly or indirectly, shares of another foreign corporation that also is a PFIC, a disposition or deemed disposition of the shares of such
other foreign corporation generally will be treated as an indirect disposition by a U.S.&nbsp;Shareholder, which generally will be subject to the PFIC&nbsp;rules. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Given
the adverse tax consequences if the PFIC rules apply, U.S.&nbsp;Shareholders are urged to consult their own tax advisors regarding the consequences of Rockgate being classified
as a PFIC, including the manner in which the PFIC rules may affect the U.S.&nbsp;federal income tax consequences of the disposition of the Shares, and whether the Shareholder can or should make any
of the special elections (described below) under the PFIC rules with respect to&nbsp;Rockgate. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>62</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Qualified Electing Fund Election  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The adverse U.S.&nbsp;federal income tax consequences of owning shares of a PFIC (described above) generally may be mitigated if a
U.S.&nbsp;Shareholder of the PFIC properly and timely made a valid QEF election with respect to the PFIC. Where a PFIC has been a QEF as to a U.S.&nbsp;Shareholder for each of its tax years, which
includes any portion of the U.S.&nbsp;Shareholder's holding period, the U.S.&nbsp;Shareholder generally will not be subject to the PFIC rules described above with respect to such shares. Instead, </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if the Offer qualifies as a Reorganization, under proposed U.S.&nbsp;Treasury Regulations, the Offer should not be
treated as a taxable exchange, and the tax consequences to the U.S.&nbsp;Shareholder of a disposition of Shares pursuant to the Offer should generally be as described under the heading
"&#151;&nbsp;Disposition of Shares and SRP Rights Pursuant to the Offer&nbsp;&#151;&nbsp;Tax Consequences if the Offer Qualifies as a Reorganization";&nbsp;and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if the Offer does not qualify as a Reorganization, the U.S.&nbsp;Shareholder's gain on disposing of the PFIC shares is
not attributed to earlier years and the U.S.&nbsp;tax is not increased by any interest charge; accordingly, a U.S.&nbsp;Shareholder making a timely and valid QEF election with respect to PFIC
shares generally would recognize a capital gain or loss on the sale, exchange or other disposition of the&nbsp;shares. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Mark-to-Market Election  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In general, the adverse U.S.&nbsp;federal income tax consequences of owning shares of a PFIC (described above) also may be mitigated
if a U.S.&nbsp;Shareholder of the PFIC properly and timely made a valid mark-to-market election with respect to such shares. A mark-to-market election may be made with respect to the shares of a
PFIC if such shares are "regularly traded" on a "qualified exchange or other market" (within the meaning of the Code and the applicable Treasury Regulations). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
U.S.&nbsp;Shareholder that makes a valid mark-to-market election, with respect to shares of a PFIC at the beginning of the U.S.&nbsp;Shareholder's holding period for such shares,
generally will not be subject to the PFIC rules described above with respect to such shares. Instead, </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if the Offer qualifies as a Reorganization, under proposed U.S.&nbsp;Treasury Regulations, the Offer should not be
treated as a taxable exchange, and the tax consequences to the U.S.&nbsp;Shareholder of a disposition of Shares pursuant to the Offer should generally be as described under the heading
"&#151;&nbsp;Disposition of Shares and SRP Rights Pursuant to the Offer&nbsp;&#151;&nbsp;Tax Consequences if the Offer Qualifies as a Reorganization";&nbsp;and </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if the Offer does not qualify as a Reorganization, any gain recognized upon a disposition of the Shares generally will be
treated as ordinary income, and any loss recognized upon a disposition generally will be treated as an ordinary loss to the extent of net mark-to-market ordinary income recognized for all prior
taxable years and any loss recognized in excess thereof will be taxed as a capital&nbsp;loss. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> PFIC-for-PFIC Exception  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, if (i)&nbsp;the Offer qualifies as a Reorganization, (ii)&nbsp;Rockgate was classified as a PFIC for
any tax year during which a U.S.&nbsp;Shareholder holds or held Shares,
and (iii)&nbsp;Denison also qualifies as a PFIC for the tax year that includes the day after the Effective Date of the Offer, then proposed U.S.&nbsp;Treasury Regulations generally provide for
Reorganization treatment to apply to such U.S.&nbsp;Shareholder's exchange of Shares for Denison Shares pursuant to the Offer (for&nbsp;a discussion of the general nonrecognition treatment of a
Reorganization, see discussion above under the heading "&#151;&nbsp;Disposition of Shares and SRP Rights Pursuant to the Offer&nbsp;&#151;&nbsp;Tax Consequences
if the Offer Qualifies as a Reorganization"). For purposes of this summary, this exception will be referred to as the "PFIC-for-PFIC Exception." In addition, in order to qualify for the PFIC-for-PFIC
Exception, proposed U.S.&nbsp;Treasury Regulations require a U.S.&nbsp;Shareholder to report certain information to the IRS on Form&nbsp;8621 together with such U.S.&nbsp;Shareholder's
U.S.&nbsp;federal income tax return for the tax year in which the Offer&nbsp;occurs. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>63</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Certain Tax Consequences of Holding Denison Shares Received in the Offer  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Distributions  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If distributions are paid to U.S.&nbsp;Shareholders in a currency other than the U.S.&nbsp;dollar, such U.S.&nbsp;Shareholder
will be treated as having received a distribution in an amount equal to the U.S.&nbsp;dollar value of the distribution at the time the distribution is made, in accordance with the exchange rate in
effect on the date the distribution is properly included in income, and whether or not the other currency is converted into U.S.&nbsp;dollars at that time. Any gain or loss recognized by a
U.S.&nbsp;Shareholder on a subsequent sale or exchange of the foreign currency will generally be United&nbsp;States source ordinary income or&nbsp;loss. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the discussion under "&#151;&nbsp;Status of Denison as a PFIC" below, the gross amount of any distribution (other than in liquidation) generally will be treated
as a dividend to the extent paid out of Denison's current or accumulated earnings and profits, as determined for U.S.&nbsp;federal income tax purposes, even though the U.S.&nbsp;Shareholder may
receive only a portion of the gross amount after giving effect to the Canadian withholding tax as reduced by the Convention. Dividend income generally will be foreign source income and generally will
be "passive category income" for U.S.&nbsp;foreign tax credit purposes. U.S.&nbsp;Shareholders are advised to consult their own tax advisors to determine the particular U.S.&nbsp;federal income
tax treatment to them. Dividend income on the Denison Shares held by certain non-corporate U.S.&nbsp;Shareholders, including individuals and certain estates and trusts, may be treated as "qualified
dividend income," provided that the U.S.&nbsp;Shareholder satisfies the applicable holding period and other requirements with respect to the Denison Shares and that Denison is not a PFIC for the
taxable year in which the dividend was paid or for the preceding taxable year. Qualified dividend income is subject to the same rates applicable to long-term capital gains. The reduced tax rate
generally is available only with respect to dividends received from
U.S.&nbsp;corporations and from non-U.S.&nbsp;corporations (a)&nbsp;that are eligible for the benefits of a comprehensive income tax treaty with the United&nbsp;States that the
U.S.&nbsp;Treasury Department determines to be satisfactory and that contains an exchange of information program, or (b)&nbsp;whose stock is readily tradable on an established securities market in
the United&nbsp;States. However, the reduced tax rate is not available with respect to dividends received from a foreign corporation that was a PFIC (as&nbsp;discussed below) in either the taxable
year of the distribution or the preceding tax year. A dividends received deduction may be allowed with respect to dividends paid by Denison. U.S.&nbsp;Shareholders are advised to consult their own
tax advisors to determine the particular U.S.&nbsp;federal income tax treatment to them with respect to distributions taxed as&nbsp;dividends. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
distribution on the Denison Shares made by Denison in excess of Denison's current or accumulated earnings and profits will be treated as a tax-free return of capital to the extent of a
U.S.&nbsp;Shareholder's adjusted tax basis in the Denison Shares and, to the extent in excess of adjusted basis, as capital gain from the sale of a capital asset. See
"&#151;&nbsp;Sale or Other Disposition of Denison Shares" regarding the U.S.&nbsp;federal tax consequences of such capital&nbsp;gains. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
the Convention, Canada currently imposes withholding tax on distributions to residents of the United&nbsp;States entitled to benefit under the Convention at a rate of 15%.
U.S.&nbsp;Shareholders generally will have the option of claiming the amount of any Canadian income taxes withheld either as a deduction from gross income or as a dollar-for-dollar credit against
their U.S.&nbsp;federal income tax liability, subject to numerous complex limitations and restrictions which must be determined and applied on an individual basis by each shareholder. Accordingly,
U.S.&nbsp;Shareholders should consult their own tax advisors concerning these rules in light of their particular circumstances. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Sale or other Disposition of Denison Shares  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the discussion found under "&#151;&nbsp;Status of Denison as a PFIC" below, in general, if a
U.S.&nbsp;Shareholder sells or otherwise disposes of Denison Shares in a taxable disposition, the U.S.&nbsp;Shareholder will recognize capital gain or loss for U.S.&nbsp;federal income tax
purposes equal to the difference, if any, between (a)&nbsp;the amount realized on the disposition and (b)&nbsp;the U.S.&nbsp;Shareholder's adjusted tax basis in the Denison Shares sold. Any
capital gain or loss recognized on the disposition will be long-term capital gain or loss if the U.S.&nbsp;Shareholder's holding period in the Denison Shares exceeds one&nbsp;year. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>64</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
gain or loss will generally be U.S.&nbsp;source. Therefore, a U.S.&nbsp;Shareholder may have insufficient foreign source income to utilize foreign tax credits attributable to any
Canadian withholding tax imposed on a disposition. U.S.&nbsp;Shareholders should consult their own tax advisors as to the availability of and limitations on any foreign tax credit attributable to
any Canadian withholding&nbsp;tax. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a U.S.&nbsp;Shareholder receives foreign currency on a sale or disposition of its Denison Shares, the amount realized on a disposition of Denison Shares will be the
U.S.&nbsp;dollar value of the foreign currency, as determined on the settlement date of such sale or other taxable disposition, based on the applicable foreign exchange rate on that date. On the
settlement date, the U.S.&nbsp;Shareholder will recognize U.S.&nbsp;source foreign currency gain or loss (taxable as ordinary income or loss) equal to the difference (if&nbsp;any) between the
U.S.&nbsp;dollar value of the cash received based on the exchange rates in effect on the date of disposition and the settlement date. However, in the case of Denison Shares traded on an established
securities market that are sold by a cash basis U.S.&nbsp;Shareholder (or&nbsp;an accrual basis U.S.&nbsp;Shareholder that so elects), the amount realized will be based on the exchange rate in
effect on the settlement date for the sale, and no exchange gain or loss will be recognized at that&nbsp;time. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a U.S.&nbsp;Shareholder is an accrual basis taxpayer and does not elect to be treated as a cash-basis taxpayer for this purpose, the U.S.&nbsp;Shareholder might have a foreign
currency gain or loss for U.S.&nbsp;federal income tax purposes. Any gain or loss would be equal to the difference between the U.S.&nbsp;dollar value of the foreign currency received on the date
of the sale or other disposition and on the date of payment, if these dates are considered to be different for U.S.&nbsp;federal tax purposes. Any currency gain or loss generally would be treated as
U.S.&nbsp;source ordinary income or loss and would be in addition to the gain or loss, if any, recognized in the sale or other disposition. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I> Status of Denison as a PFIC  </I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The rules for determining whether an entity is considered a PFIC are described above in "&#151;&nbsp;Passive Foreign
Investment Company Considerations". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
determination of PFIC status is fundamentally factual in nature, depends on the application of complex U.S.&nbsp;federal income tax rules which are subject to differing
interpretations, and generally cannot be determined until the close of the taxable year in question. As a result, Denison's status in the current and future years will depend on the composition of
Denison's gross income, Denison's assets and activities in those years and the market capitalization of Denison as determined at the end of each calendar quarter, and there can be no assurance that
Denison will or will not be considered a PFIC for any taxable&nbsp;year. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Denison is or will be treated as a PFIC for any taxable year during a U.S.&nbsp;Shareholder's holding period of Denison Shares, the tax consequences to a U.S.&nbsp;Shareholder of
a disposition of its Denison Shares or a distribution with respect to its Denison Shares in such circumstances generally will be as described above in "&#151;&nbsp;Passive Foreign
Investment Company Considerations." A U.S.&nbsp;Shareholder's ownership of shares in a PFIC generally must be reported by filing Form&nbsp;8621 with the U.S.&nbsp;Shareholder's annual
U.S.&nbsp;federal income tax return. Every U.S.&nbsp;Shareholder that is a shareholder in a PFIC must file an annual report containing such information as may be required by the
U.S.&nbsp;Department of the&nbsp;Treasury. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Each U.S.&nbsp;Shareholder should consult its own tax advisor regarding the status of Denison as a PFIC, the possible effect of the PFIC rules on such holder,
as well as the availability of any election that may be
available to such holder to mitigate adverse U.S.&nbsp;federal income tax consequences of holding shares in a&nbsp;PFIC.</B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Additional Tax on Passive Income  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-corporate U.S.&nbsp;Shareholders with income that exceeds certain thresholds generally are subject to a 3.8% tax on unearned
income, including, among other things, capital gains from the taxable disposition of Rockgate or Denison Shares and distributions with respect to Denison Shares, subject to certain limitations and
exceptions. U.S.&nbsp;Shareholders should consult their own tax advisors regarding the effect, if any, of this tax on their ownership and disposition of Rockgate or Denison&nbsp;Shares. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>65</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Backup Withholding and Information Reporting  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on the disposition of the Shares and SRP Rights, by a U.S.&nbsp;paying agent or other U.S.&nbsp;intermediary, will be
reported to the IRS and to the U.S.&nbsp;Shareholder as may be required under applicable regulations. Backup withholding at a rate of 28% may apply to these payments if the U.S.&nbsp;Shareholder
fails to provide an accurate taxpayer identification number or certification of exempt status or fails to report all interest and dividends required to be shown on its U.S.&nbsp;federal income
tax&nbsp;returns. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally,
dividends paid with respect to Denison Shares and payments of the proceeds from a sale or other disposition of Denison Shares may be subject to backup withholding if the
U.S.&nbsp;Shareholder fails to provide an accurate taxpayer identification number or certification of exempt status or fails to report all interest and dividends required to be shown on its
U.S.&nbsp;federal income tax returns. Such dividends and proceeds may be subject to information reporting. Certain U.S.&nbsp;Shareholders are not subject to backup withholding. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Backup
withholding is not an additional tax. Rather, any amount withheld under the backup withholding rules will be creditable or refundable against the U.S.&nbsp;Shareholder's
U.S.&nbsp;federal income tax liability, provided the required information is furnished to the IRS by filing a tax return. U.S.&nbsp;Shareholders are encouraged to consult their own tax advisors as
to their qualification for exemption from backup withholding and the procedure for obtaining such&nbsp;exemption. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
U.S.&nbsp;federal income tax law and Treasury Regulations, certain categories of U.S.&nbsp;Shareholders must file information returns with respect to their investment in, or
involvement in, a foreign corporation. For example, U.S.&nbsp;Shareholders that hold certain specified foreign financial assets in excess of certain threshold amounts must comply with certain
reporting requirements. The definition of specified foreign financial assets includes not only financial accounts maintained in foreign financial institutions, but also, unless held in accounts
maintained by a financial institution, any shares or security issued by a non-U.S.&nbsp;person, any financial instrument or contract held for investment that has an issuer or counterparty other than
a U.S.&nbsp;person and any interest in a foreign entity. U.S.&nbsp;Shareholders may be subject to these reporting requirements unless their Shares are held in an account at certain financial
institutions. Penalties for failure to file certain of these information returns are substantial. U.S.&nbsp;Shareholders should consult with their own tax advisors regarding the requirements of
filing information returns. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>21.&nbsp;&nbsp;&nbsp;Shareholder Rights Plan  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockgate and Computershare Investor Services&nbsp;Inc., as rights agent, entered into a shareholder rights plan agreement dated June&nbsp;16, 2008 governing
the terms of the Shareholder Rights Plan. </FONT><FONT SIZE=2><B>The following is a summary of certain provisions of the Shareholder Rights Plan. This summary does not purport to be complete and is
subject to, and is qualified in its entirety by reference to, the provisions of the Shareholder Rights Plan.</B></FONT><FONT SIZE=2> The shareholder rights plan agreement has been filed by Rockgate
under its profile on SEDAR at <U>www.sedar.com</U>. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Shareholder Rights Plan and subject to its terms, Rockgate issued one right (an&nbsp;"</FONT><FONT SIZE=2><B>SRP Right</B></FONT><FONT SIZE=2>") in respect of each
outstanding Share and authorized the issuance of one SRP Right in respect of each Share issued thereafter. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
SRP Rights are attached to the Shares and are not exercisable until the "</FONT><FONT SIZE=2><B>Separation Time</B></FONT><FONT SIZE=2>", which is defined under the Shareholder
Rights Plan to mean the close of business (Vancouver time) on the tenth Business Day (as&nbsp;defined in the Shareholder Rights Plan) after the earliest of: (a)&nbsp;the date of first public
announcement or disclosure by Rockgate or an acquiring person that a person has become an acquiring person; and (b)&nbsp;the date of the commencement of, or first public announcement of the intent
of any person to commence, a take-over bid other than a Permitted Bid or a Competing Permitted Bid (as&nbsp;defined in the Shareholder Rights Plan), or such earlier date as Rockgate's directors
may&nbsp;determine. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
the Separation Time (or&nbsp;the earlier redemption, expiration or termination of the SRP Rights), the SRP Rights will be evidenced by the certificates representing the
associated Shares and shall be transferable only together with, and shall be transferred by a transfer of, such associated Share. From and after the Separation Time, the SRP Rights are exercisable and
the registration and transfer of the SRP rights will be separate from </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>66</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>and
independent of the Shares. Promptly after the Separation Time, separate certificates evidencing the SRP Rights will be mailed to holders of record of Shares as of the Separation Time (other than
an Acquiring Person or in respect of any SRP Rights beneficially owned by an Acquiring Person). </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
the Separation Time, each SRP Right entitles the holder thereof to purchase one Share at $30.00 (the&nbsp;"</FONT><FONT SIZE=2><B>SRP Exercise Price</B></FONT><FONT SIZE=2>")
(subject to adjustment in certain circumstances). Pursuant to the Shareholder Rights Plan, if a transaction or event (a&nbsp;"</FONT><FONT SIZE=2><B>Flip-in Event</B></FONT><FONT SIZE=2>") results
in a person (other than certain exempt persons) becoming the Beneficial Owner (as&nbsp;defined in the Shareholder Rights Plan) of 20% or more of the outstanding Shares other than as a result of
certain exempt transactions (including acquisitions pursuant to a Permitted Bid or Competing Permitted Bid) (an&nbsp;"</FONT><FONT SIZE=2><B>Acquiring Person</B></FONT><FONT SIZE=2>"), then,
effective at the close of business (Vancouver time) on the tenth Business Day (as&nbsp;defined in the Shareholder Rights Plan) after the date of first public announcement by Rockgate or the
Acquiring Person of facts indicating that the Acquiring Person has become such, each SRP Right constitutes the right to purchase from Rockgate upon exercise thereof that number of Shares having an
aggregate Market Price on the date of consummation or occurrence of such Flip-in Event equal to twice the SRP Exercise Price for a cash amount equal to the SRP Exercise Price, subject to adjustment in
certain circumstances (thereby effectively creating the right to purchase Shares at a 50% discount). However, SRP Rights held by an Acquiring Person, or certain parties related to an Acquiring Person
or acting jointly or in concert with an Acquiring Person and certain transferees, become void upon the occurrence of a Flip-in Event. The result would be to significantly dilute the shareholdings of
any such acquirer. "</FONT><FONT SIZE=2><B>Market Price</B></FONT><FONT SIZE=2>" per security for a security on any date means the average of the daily closing prices per security for such security
on each of the 20&nbsp;consecutive Trading Days through and including the Trading Day immediately preceding such date (subject to adjustment in certain circumstances). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Shareholder Rights Plan contains exemptions in relation to certain types of transactions, including Permitted Bids. A "</FONT><FONT SIZE=2><B>Permitted Bid</B></FONT><FONT SIZE=2>"
is a take-over bid which, among other things, is made to all Shareholders of record, remains open for at least 60&nbsp;days and provides that no Shares may be taken up unless more than 50% of the
aggregate of the then outstanding Shares held by Independent Shareholders (meaning the holders of Shares other than certain persons, including any Acquiring Person, any offeror, any affiliate or
associate of any Acquiring Person or offeror and any person acting jointly or in concert with any such Acquiring Person, offeror, affiliate or associate) have been deposited and not withdrawn. Once
this condition has been satisfied, the offeror under a Permitted Bid must make a public announcement of that fact and extend the bid for a period of not less than ten days from the date of such public
announcement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
board of directors of Rockgate has the discretion, prior to the occurrence of a Flip-in Event to waive the application of the plan to such Flip-in Event, provided that such waiver
shall be deemed to constitute a waiver of the application of the plan to any other Flip-in Event which may arise in respect of any take-over bid then in effect or made prior to the public announcement
of the completion or termination of the transaction in respect of which the Board of Directors waived the Flip-in Event (i.e.&nbsp;the Mega Uranium Arrangement). Under the Mega Uranium Arrangement
Agreement, Rockgate has covenanted that it will waive the application of Section&nbsp;3.1 of the SRP such that the Mega Uranium Arrangement constitutes an "Exempt Acquistion" thereunder. Rockgate
stated in a press release dated September&nbsp;17, 2013 that the Rockgate Board has waived the application of the Shareholder Rights Plan to the Mega Uranium Agreement. Denison is of the view that,
as a consequence, under the terms of the Shareholder Rights Plan, it is also waived with respect to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Offer is not a Permitted Bid for the purposes of the Shareholder Rights Plan. Denison's obligation to take up and pay for Shares under the Offer is conditional upon the Shareholder
Rights Plan having been waived, suspended, or otherwise rendered inoperative or ineffective as regards to the Offer. See Section&nbsp;4 of the Offer, "Conditions of the Offer". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>22.&nbsp;&nbsp;&nbsp;Other Matters Related to the Offer  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Depositary  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Computershare Investor Services&nbsp;Inc. has been retained by Denison to act as the Depositary to receive deposits of certificates
and DRS Advices representing Shares and accompanying Letters of Transmittal </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>67</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>deposited
under the Offer at its office in Toronto, Ontario specified in the Letter of Transmittal. The Depositary will also receive deposits of Notices of Guaranteed Delivery at its office in
Toronto, Ontario specified in the Notice of Guaranteed Delivery. In addition, the Depositary will receive documentation at its office in Toronto, Ontario specified in the Letter of Transmittal in
relation to Shareholders accepting the Offer through book-entry transfer. The Depositary will also be responsible for giving certain notices, if required by applicable Laws, and for making payment for
all Shares purchased by Denison under the Offer. The Depositary will receive reasonable and customary compensation from Denison for its services in connection with the Offer, will be reimbursed for
certain out-of-pocket expenses and will be indemnified against certain liabilities, including liabilities under securities laws, and expenses in connection therewith. Contact information for the
Depositary is provided on the back cover of this&nbsp;document. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Information Agent  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laurel Hill Advisory Group has been retained by Denison to act as the Information Agent to provide a resource for information for
Shareholders in connection with the Offer. The Information Agent will receive reasonable and customary compensation from Denison for its services in connection with the Offer, will be reimbursed for
certain out-of-pocket expenses and will be indemnified
against certain liabilities and expenses in connection therewith. Contact information for the Information Agent is provided on the back cover of this&nbsp;document. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Financial Advisor and Soliciting Dealer Group  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haywood has been retained to act as financial advisor to Denison with respect to the&nbsp;Offer. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
reserves the right to form&nbsp;a soliciting dealer group (the&nbsp;"</FONT><FONT SIZE=2><B>Soliciting Dealer Group</B></FONT><FONT SIZE=2>") comprised of members of the
Investment Industry Regulatory Organization of Canada and members of Canadian stock exchanges (each, a "</FONT><FONT SIZE=2><B>Soliciting Dealer</B></FONT><FONT SIZE=2>") to solicit acceptances of
the Offer from persons resident in Canada. If Denison decides to make use of the services of a Soliciting Dealer, Denison may pay such Soliciting Dealer a fee customary for such services for each
Share deposited and taken up by Denison under the Offer (other than Shares held by a member of a Soliciting Dealer Group for its own account). Denison may require Soliciting Dealers to furnish
evidence of the beneficial ownership satisfactory to it at the time of&nbsp;deposit. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Shareholders will not be required to pay any fee or commission if they accept the Offer by depositing their Shares directly with the Depositary. However, an
investment advisor, stockbroker, bank, trust company or other nominee through whom a Shareholder owns Shares may charge a fee to tender Shares on behalf of the Shareholder. Shareholders should consult
their investment advisor, stockbroker, bank, trust company or other nominee, as applicable, to determine whether any charges will&nbsp;apply.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Legal Matters  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain legal matters on behalf of Denison will be passed upon by, and the opinions contained under Section&nbsp;19 of the Circular,
"Certain Canadian Federal Income Tax Considerations" have been provided by, Cassels, Vancouver, British Columbia, Canadian counsel to Denison. Certain legal matters on behalf of Denison will also be
passed upon by Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP, New&nbsp;York, New&nbsp;York, U.S.&nbsp;counsel to&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Experts  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As at the date of the Offer, the partners and associates of Cassels beneficially own, directly or indirectly, less than 1% of the
securities of each of Denison, Rockgate and their respective associates and&nbsp;affiliates. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
audited consolidated financial statements of Denison as at and for each of the years ended December&nbsp;31, 2012 and 2011 and related notes incorporated by reference herein have
been audited by PricewaterhouseCoopers&nbsp;LLP, Independent Registered Chartered Accountants, Licensed Public Accountants, </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>68</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>who
are independent with respect to Denison within the meaning of the Rules of Professional Conduct of the Institute of Chartered Accountants of British Columbia. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
audited consolidated financial statements of Fission Energy Corp. as at and for the years ended June&nbsp;30, 2012 and 2011 and related notes set out in the Amended and Restated
Business Acquisition Report dated September&nbsp;9, 2013 of Denison incorporated by reference herein have been audited by Ernst&nbsp;&amp; Young&nbsp;LLP, Independent Registered Chartered
Accountants, Licensed Public Accountants, who were independent with respect to Fission Energy Corp. within the meaning of the Rules of Professional Conduct of the Institute of Chartered Accountants of
British Columbia. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
scientific and technical information in the Offer and Circular and the documents incorporated by reference herein has been reviewed and approved by Steve Blower, P.Geo., Denison's
Vice President, Exploration and Terry Wetz, P.E., Denison's Vice President, Project Development, who are Qualified Persons under NI&nbsp;43-101 and officers of Denison. As at the date of the Offer,
each individual beneficially owned, directly or indirectly, less than 1% of the securities of each of Denison, Rockgate and their respective associates and&nbsp;affiliates. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>23.&nbsp;&nbsp;&nbsp;Stock Exchange Listing Application  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The TSX has granted conditional listing approval for the Denison Shares issuable under the Offer, subject to completion and delivery of customary documentation to
the TSX, and Denison has applied to list the Denison Shares issuable under the Offer on the NYSE MKT. Such listings will be subject to Denison fulfilling all of the listing requirements of the TSX and
the NYSE&nbsp;MKT. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>24.&nbsp;&nbsp;&nbsp;Documents Incorporated by Reference  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents, filed by Denison with the various securities commissions or similar authorities in Canada, are specifically incorporated by reference in,
and form an integral part of, the Offer and&nbsp;Circular: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Material
Change Report of Denison dated and filed on SEDAR January&nbsp;16, 2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Material
Change Report of Denison dated and filed on SEDAR January&nbsp;17, 2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Material
Change Report of Denison dated and filed on SEDAR March&nbsp;15, 2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>audited
consolidated financial statements of Denison as at and for the years ended December&nbsp;31, 2012 and 2011 and related notes, together with the
independent registered chartered accountants' report thereon, filed on SEDAR on March&nbsp;7,&nbsp;2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Management's
Discussion and Analysis for the audited consolidated financial statements of Denison as at and for the years ended December&nbsp;31, 2012 and
2011, filed on SEDAR on March&nbsp;7,&nbsp;2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(f)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Annual
Information Form of Denison for the financial year ended December&nbsp;31, 2012, dated March&nbsp;13, 2013 and filed on SEDAR on
March&nbsp;15,&nbsp;2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(g)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Management
Information Circular of Denison dated March&nbsp;20, 2013, prepared in connection with Denison's annual meeting of shareholders held on
May&nbsp;9, 2013, filed on SEDAR on April&nbsp;9,&nbsp;2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(h)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>unaudited
interim condensed consolidated financial statements of Denison as at and for the interim period ended June&nbsp;30, 2013 and 2012 and related
notes, filed on SEDAR on August&nbsp;8,&nbsp;2013;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Management's
Discussion and Analysis for the unaudited interim condensed consolidated financial statements of Denison as at and for the interim period ended
June&nbsp;30, 2013 and 2012, filed on SEDAR on August&nbsp;8, 2013;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(j)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Amended
and Restated Business Acquisition Report filed pursuant to Part&nbsp;8 of National Instrument&nbsp;51-102 of the Canadian Securities
Administrators regarding the acquisition, effective April&nbsp;26, 2013, of Fission Energy Corp., dated and filed on SEDAR on September&nbsp;9,&nbsp;2013. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>69</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information
has been incorporated by reference in the Offer and Circular from documents filed with securities commissions or similar authorities in Canada. Copies of the documents
incorporated herein by reference may be obtained on request without charge from the Corporate Secretary of Denison at 595&nbsp;Bay Street, Suite&nbsp;402, Toronto, Ontario M5G&nbsp;2C2,
telephone (416)&nbsp;979-1991, extension 366, and are also available electronically on SEDAR at <U>www.sedar.com</U>. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Any documents of the type referred to above (excluding confidential material change reports), and any business acquisition reports, filed by Denison with the
securities commissions or similar authorities in each jurisdiction of Canada in which Denison is a reporting issuer subsequent to the date of the Offer and Circular and prior to the Expiry Time shall
be deemed to be incorporated by reference into the Offer and Circular. Any statement contained in the Offer and Circular or in a document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for the purposes of the Offer and Circular to the extent that a statement contained herein or in any other subsequently filed document which also is, or is
deemed to be, incorporated by reference herein modifies or supersedes such statement. The modifying or superseding statement need not state that it has modified or superseded a prior statement or
include any other information set forth in the document or statement that it modifies or supersedes. The making of a modifying or superseding statement shall not be deemed an admission for any
purposes that the modified or superseded statement, when made, constituted a misrepresentation, an untrue statement of a material fact or an omission to state a material fact that was required to be
stated or that was necessary to make a statement not misleading in light of the circumstances in which it was made. Any statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of the Offer and&nbsp;Circular.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>25.&nbsp;&nbsp;&nbsp;Registration Statement Filed with the SEC  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A registration statement on Form&nbsp;F-8 under the U.S.&nbsp;Securities Act, which covers the Denison Shares to be issued pursuant to the Offer and includes
the Offer and Circular, has been filed with the SEC. The registration statement, including exhibits, is available to the public free of charge at the SEC's website at www.sec.gov. The following
documents have been filed with the SEC as exhibits to the registration statement: the Letter of Transmittal; the Notice of Guaranteed Delivery; the Lock-Up Agreements; the documents referred to in
Section&nbsp;24 of the Circular, "Documents Incorporated by Reference"; the consent of Cassels; the consents of PricewaterhouseCoopers&nbsp;LLP and Ernst&nbsp;&amp; Young&nbsp;LLP; the consents of
certain experts, engineers and geologists; and the powers of attorney from directors and certain officers of&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>26.&nbsp;&nbsp;&nbsp;Statutory Rights  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities legislation in the provinces and territories of Canada provides Shareholders with, in addition to any other rights they may have at law, one or more
rights of rescission, price revision or to damages, if there is a misrepresentation in a circular or notice that is required to be delivered to the Shareholders. However, such rights must be exercised
within prescribed time limits. Shareholders should refer to the applicable provisions of the securities legislation of their province or territory for particulars of those rights or consult
a&nbsp;lawyer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>27.&nbsp;&nbsp;&nbsp;Directors' Approval  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The contents of the Offer and the Circular have been approved, and the sending, communication or delivery thereof to the Shareholders has been authorized, by the
board of directors of&nbsp;Denison. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>70</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_appendix_a_dissident_circular_information"> </A>
<A NAME="toc_la40303_1"> </A>
<BR></FONT><FONT SIZE=2><B>  APPENDIX A    <BR>    <BR>    DISSIDENT CIRCULAR INFORMATION    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with its Offer for the issued and outstanding Shares of Rockgate, Denison may engage in activities that could be
construed as a "solicitation" of proxies within the meaning of National Instrument&nbsp;51-102&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>Continuous Disclosure
Obligations</I></FONT><FONT SIZE=2> ("</FONT><FONT SIZE=2><B>51-102</B></FONT><FONT SIZE=2>"). This Appendix&nbsp;A provides supplemental information which, when combined with the information in
the Offer and Circular, constitutes the disclosure required by 51-102F5. Terms used in this Appendix&nbsp;A have the same respective meanings as in the Offer and&nbsp;Circular. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_notice_to_u.s._shareholders"> </A>
<A NAME="toc_la40303_2"> </A>
<BR></FONT><FONT SIZE=2><B>  NOTICE TO U.S.&nbsp;SHAREHOLDERS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This solicitation of proxies is not subject to the requirements of Section&nbsp;14(a) of the United&nbsp;States Securities Exchange
Act of 1934, as amended (the&nbsp;"</FONT><FONT SIZE=2><B>U.S.&nbsp;Exchange Act</B></FONT><FONT SIZE=2>"). Accordingly, such solicitation is made in the United&nbsp;States with respect to
securities of a Canadian foreign private issuer in accordance with Canadian corporate and securities laws and the Offer and Circular and this Appendix&nbsp;A have been prepared in accordance with
disclosure requirements applicable in Canada. Shareholders resident in the United&nbsp;States should be aware that such requirements are different from those of the United&nbsp;States applicable
to proxy statements under the U.S.&nbsp;Exchange&nbsp;Act. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_dissident_information_circular"> </A>
<A NAME="toc_la40303_3"> </A>
<BR></FONT><FONT SIZE=2><B>  DISSIDENT INFORMATION CIRCULAR    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Appendix&nbsp;A dated September&nbsp;19, 2013, and any further supplements or amendments and restatements hereof or thereof
(together, the "</FONT><FONT SIZE=2><B>Appendix</B></FONT><FONT SIZE=2>") is furnished in connection with the solicitation by and on behalf of Denison of proxies to be used at the special meeting
(the&nbsp;"</FONT><FONT SIZE=2><B>Meeting</B></FONT><FONT SIZE=2>") of Shareholders of Rockgate (the&nbsp;"</FONT><FONT SIZE=2><B>Company</B></FONT><FONT SIZE=2>") scheduled to be held on
Wednesday, September&nbsp;25, 2013 at 10:00&nbsp;a.m. (Vancouver Time), at 595&nbsp;Burrard Street, Suite&nbsp;2600, Vancouver, British Columbia, and at any adjournments or postponements
thereof, for the purposes set forth in the Notice of Meeting forwarded to shareholders and accompanying the Management Circular referred to&nbsp;below. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
solicitation of proxies is made by Denison and is not made by or on behalf of management of the Company ("</FONT><FONT SIZE=2><B>Management</B></FONT><FONT SIZE=2>"). Rockgate has
previously caused to be forwarded to its shareholders a management information circular dated August&nbsp;26, 2013 (the&nbsp;"</FONT><FONT SIZE=2><B>Management Circular</B></FONT><FONT SIZE=2>")
and a form of proxy (the&nbsp;"</FONT><FONT SIZE=2><B>Management Proxy</B></FONT><FONT SIZE=2>"). For a description of the revocability of a previously submitted Management Proxy please refer to
the Management Circular. Although Denison has no current intention of furnishing Shareholders with its own form of proxy for use at the Meeting it reserves the right to circulate its own form of proxy
at a later date. </FONT><FONT SIZE=2><B>A Shareholder has the right to appoint a person (who&nbsp;need not be a Shareholder) to represent them at the Meeting other than the persons designated in
the Management Proxy (or&nbsp;such other form of proxy provided in connection with the Meeting) to represent the Shareholder at the Meeting. To exercise this right, the Shareholder should strike out
the name of the designees in the form of proxy and insert the name of the desired representative in the blank space provided in the form of proxy or submit another appropriate form of
proxy.</B></FONT><FONT SIZE=2> Shares represented by a proxy will be voted or withheld from voting in accordance with the instructions of the Shareholder on any ballot that may be called for and if
the Shareholder specifies a choice with respect to any matter to be acted upon, the securities will be voted accordingly. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solicitations
will be made primarily by telephone at a nominal cost. Denison will assume all costs incurred by it in connection with the solicitation of proxies to be voted at the
Meeting. Any solicitation will be made by Denison directly or by the Information Agent on its&nbsp;behalf. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denison
is sending the Offer and Circular to non-objecting beneficial owners pursuant to National
Instrument&nbsp;54-101&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>Communication With Beneficial Owners</I></FONT><FONT SIZE=2>. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>A-1</FONT></P>

<HR NOSHADE>
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<A NAME="page_la40303_1_2"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_purpose_of_solicitation"> </A>
<A NAME="toc_la40303_4"> </A>
<BR></FONT><FONT SIZE=2><B>  PURPOSE OF SOLICITATION    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of the solicitation of proxies by and on behalf of Denison is to seek your vote </FONT> <FONT SIZE=2><B>AGAINST</B></FONT><FONT SIZE=2> the proposed plan of arrangement
between Rockgate and Mega Uranium (the&nbsp;"</FONT><FONT SIZE=2><B>Mega Uranium
Arrangement</B></FONT><FONT SIZE=2>") to be considered by Shareholders at the Meeting. Denison has made an Offer to acquire all of Rockgate's outstanding shares
(the&nbsp;"</FONT><FONT SIZE=2><B>Competing Transaction</B></FONT><FONT SIZE=2>") as described in the Offer and Circular to which this Appendix is attached. The Competing Transaction is subject to
several conditions including that the Mega Uranium Arrangement Agreement has been terminated on terms satisfactory to&nbsp;Denison. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_reasons_for_solicitati__la402035"> </A>
<A NAME="toc_la40303_5"> </A>
<BR></FONT><FONT SIZE=2><B>  REASONS FOR SOLICITATION&nbsp;&#151;&nbsp;MATTERS TO BE ACTED UPON    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To Denison's knowledge the only matter to be acted upon at the Meeting is the approval of the Mega Uranium Arrangement. A full
description of all matters to be acted upon at the Meeting is found in the Management Circular previously sent to its shareholders by&nbsp;Rockgate. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_recommendation_to_shareholders"> </A>
<A NAME="toc_la40303_6"> </A>
<BR></FONT><FONT SIZE=2><B>  RECOMMENDATION TO SHAREHOLDERS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>Denison recommends that Shareholders vote AGAINST the Mega Uranium Arrangement using the Management Proxy.
Denison believes that the Competing Transaction is a superior alternative to the Mega Uranium Arrangement and provides better value to Shareholders when compared to the Mega Uranium Arrangement for
the reasons described in the Offer and Circular to which this Appendix is attached. Shareholders should vote against the Mega Uranium Arrangement by checking the box under the word "Against" on the
form of proxy or voting information form or voting AGAINST in the manner that has been furnished to them by Rockgate. It is important that shareholders complete the form of proxy or voting information
form correctly as, if no choice is shown on the form of proxy or voting information form Shareholders will be deemed to have voted in favor of the Mega Uranium arrangement.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_shareholders_entitled_to_vote"> </A>
<A NAME="toc_la40303_7"> </A>
<BR></FONT><FONT SIZE=2><B>  SHAREHOLDERS ENTITLED TO VOTE    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has fixed August&nbsp;21, 2013 as the record date (the&nbsp;"</FONT><FONT SIZE=2><B>Record
Date</B></FONT><FONT SIZE=2>") for the purposes of determining holders of Shares entitled to receive notice of an to vote at the Meeting. The right to vote at the Meeting is limited to holders of
Shares of record as at the close of business on the Record&nbsp;Date. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;According
to the Management Circular, there were 116,897,470&nbsp;Shares outstanding as of the Record Date. In determining the number of outstanding Shares, Denison has relied
exclusively on the disclosure set out in the Management Circular. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as set forth below, information regarding the beneficial ownership control or direction over shares is not within the knowledge of Denison. For this information please refer to
the Management Circular. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
on publicly available information, as of the Record Date, Denison believes that Sprott Asset Management&nbsp;L.P. owned an aggregate of 17,587,402&nbsp;Shares, representing
approximately 15.2% of the issued and outstanding Shares of&nbsp;Rockgate. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_interests_in_material_transact__int03173"> </A>
<A NAME="toc_la40303_8"> </A>
<BR></FONT><FONT SIZE=2><B>  INTERESTS IN MATERIAL TRANSACTIONS AND MATTERS TO BE ACTED UPON AT THE MEETING    <BR>    </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise disclosed in the Offer and Circular and this Appendix, to the knowledge of Denison, neither Denison nor its
directors, officers, associates or affiliates&nbsp;has:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Any material interest, direct or indirect, in any transaction since the beginning of the Company's most recently completed
financial year or in any proposed transaction that has materially affected or would materially affect the Company or any of its subsidiaries;&nbsp;or </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter
currently known to be acted upon at the&nbsp;meeting. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>A-2</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_information_contained_in_this_appendix"> </A>
<A NAME="toc_la40303_9"> </A>
<BR></FONT><FONT SIZE=2><B>  INFORMATION CONTAINED IN THIS APPENDIX    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise indicated herein, the information concerning Rockgate contained in this Appendix and in the Offer and Circular has
been taken from or is based upon publicly available information filed with Canadian securities regulators and other public sources available as at September&nbsp;18, 2013. Rockgate has not reviewed
this Appendix or the Offer and Circular and has not confirmed the accuracy and completeness of the information in respect of Rockgate contained therein or herein. Neither Denison, nor any person
acting jointly or in concert with Denison, nor any of the directors or officers of Denison or such persons, assumes any responsibility for the accuracy or completeness of such information or any
failure by Rockgate to disclose events or facts which may have occurred or which may affect the significance or accuracy of any such information but which are unknown to Denison or such persons.
Except as otherwise indicated herein, Denison has no means of verifying the accuracy or completeness of any of the information contained herein that is derived from publicly available information
regarding Rockgate or whether there has been any failure by Rockgate to disclose events or facts that may have occurred or may affect the significance or accuracy of any such information. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="la40303_information_regarding_the_company"> </A>
<A NAME="toc_la40303_10"> </A>
<BR></FONT><FONT SIZE=2><B>  INFORMATION REGARDING THE COMPANY    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional information relating to the Company, including its Annual Information Form and the Management Circular, is filed with
Canadian Securities Administrators. This information can be accessed through SEDAR at <U>www.sedar.com</U>. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>TENDER YOUR SHARES TODAY<BR>
THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER&nbsp;25, 2013<BR> </B></FONT><FONT SIZE=2>A-3</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="le40303_the_depositary_for_the_offer_is_"> </A>
<A NAME="toc_le40303_1"> </A>
<BR></FONT><FONT SIZE=2><B>  The Depositary for the Offer is:    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Computershare
Investor Services&nbsp;Inc. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>By Mail</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> By Registered Mail, by Hand or by Courier</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Computershare Investor Services&nbsp;Inc.<BR>
PO Box&nbsp;7021<BR>
31&nbsp;Adelaide Street E.<BR>
Toronto ON<BR>
M5C&nbsp;3H2<BR>
Attention: Corporate Actions</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Computershare Investor Services&nbsp;Inc.<BR>
100&nbsp;University Ave., 8<SUP>th</SUP>&nbsp;Floor<BR>
Toronto ON<BR>
M5J&nbsp;2Y1<BR>
Attention: Corporate Actions</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="le40303_the_information_agent_for_the_offer_is_"> </A>
<A NAME="toc_le40303_2"> </A>
<BR></FONT><FONT SIZE=2><B>  The Information Agent for the Offer is:    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Laurel
Hill Advisory Group<BR>
Toll-Free Phone: 1-877-452-7184<BR>
Outside of North America Phone: 1-416-304-0211<BR>
Facsimile: 1-416-646-2415<BR>
E-mail: <U>assistance@laurelhill.com</U> </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Any questions or requests for assistance or additional copies of the Offer and Circular, the Letter of Transmittal or the Notice of Guaranteed Delivery may be directed to the
Depositary or the Information Agent. Shareholders may also contact their investment advisor, stockbroker, bank, trust company or other nominee for assistance concerning
the&nbsp;Offer.</B></FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="be40301_part_ii_information_not_requir__par03037"> </A>
<A NAME="toc_be40301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PART II<BR>  <BR>    INFORMATION NOT REQUIRED TO BE DELIVERED<BR>  TO OFFEREES OR PURCHASERS    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B> Indemnification  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by the Ontario </FONT><FONT SIZE=2><I>Business Corporations Act</I></FONT><FONT SIZE=2>, the Registrant'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'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,  </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>he
or she acted honestly and in good faith with a view to the best interests of the Registrant;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>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&nbsp;lawful. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Ontario </FONT><FONT SIZE=2><I>Business Corporations Act</I></FONT><FONT SIZE=2> also provides, and the Registrant'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 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&nbsp;(a) and&nbsp;(b)&nbsp;above. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant maintains liability insurance for its directors and officers acting in their respective capacities in an aggregate amount of Cdn$20,000,000, subject to the following
deductibles: (a)&nbsp;Cdn$250,000 per occurrence; (b)&nbsp;Cdn$250,000 for a loss due to a claim under applicable Canadian securities laws; and (c)&nbsp;$250,000 for a loss due to a claim under
applicable U.S.&nbsp;securities laws. The premium paid by the Registrant in 2012 for this coverage was Cdn$155,530 for the period from November&nbsp;1, 2012 to November&nbsp;1, 2013. No amounts
were paid by individual directors and officers for this coverage. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the Registrant has entered into separate Indemnity Agreements with each of its officers and directors, which Agreements provide for indemnification of the director or
officer against certain judgments, penalties, fines and expenses incurred by each such officer or director in connection with certain threatened, pending or completed investigations, inquiries,
hearings, actions or proceedings. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the </FONT><FONT SIZE=2><I>Securities Act of 1933</I></FONT><FONT SIZE=2>, as amended, 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 U.S.&nbsp;Securities and Exchange Commission
such indemnification is against public policy as expressed in the </FONT><FONT SIZE=2><I>Securities Act of 1933</I></FONT><FONT SIZE=2>, as amended, 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 </FONT><FONT SIZE=2><I>Securities Act of 1933</I></FONT><FONT SIZE=2>, as amended, and will be governed by the final adjudication of such&nbsp;issue. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
above discussion of the Registrant's Bylaws and Ontario law is not intended to be exhaustive and is qualified in its entirety by such Bylaws, the Registrant's Certificate of
Incorporation and Ontario&nbsp;Law. </FONT></P>

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<P style="font-family:times;"><FONT SIZE=2><B> EXHIBITS  </B></FONT></P>
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Number

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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Description </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Letter of Transmittal dated September&nbsp;19, 2013</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.2</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Notice of Guaranteed Delivery dated September&nbsp;19, 2013</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.3</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and JP Morgan Asset Management (UK) Limited</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.4</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and New&nbsp;City Energy Limited</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.5</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Geiger Counter Limited</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.6</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and City Natural Resources High Yield Trust&nbsp;plc</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.7</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Sprott Asset Management USA&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.8</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Resource Capital Investment Corp., General Partner</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.9</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Sprott Asset Management&nbsp;LP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Annual Information Form for the year ended December&nbsp;31, 2012 (incorporated by reference to the Registrant's Annual Report on
Form&nbsp;40-F, as filed with the Securities and Exchange Commission on March&nbsp;15, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.2</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Audited Consolidated Financial Statements, and the related notes thereto, as at December&nbsp;31, 2012 and 2011 and for each of
the years in the two year period ended December&nbsp;31, 2012 and the Auditors' Report thereon (incorporated by reference to the Registrant's Annual Report on Form&nbsp;40-F, as filed with the Securities and Exchange Commission on March&nbsp;15,
2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.3</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management's Discussion and Analysis of Financial Position and Operating Results for the years ended December&nbsp;31, 2012 and
2011 (incorporated by reference to the Registrant's Annual Report on Form&nbsp;40-F, as filed with the Securities and Exchange Commission on March&nbsp;15, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.4</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management Information Circular for the Registrant's annual meeting of shareholders held on May&nbsp;9, 2013 (incorporated by
reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on April&nbsp;18, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.5</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Unaudited Consolidated Interim Financial Statements and the related notes thereto for the three and six months ended June&nbsp;30,
 2013 and 2012 (incorporated by reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on August&nbsp;20, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.6</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management's Discussion and Analysis of Financial Position and Operating Results for the three and six months ended June&nbsp;30,
2013 and 2012 (incorporated by reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on August&nbsp;20, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.7</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Material Change Report of the Registrant dated January&nbsp;16, 2013 (incorporated by reference to the Registrant's Report on
Form&nbsp;6-K furnished to the Securities and Exchange Commission on January&nbsp;17, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.8</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Material Change Report of the Registrant dated January&nbsp;17, 2013</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.9</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Material Change Report of the Registrant dated March&nbsp;15, 2013 (incorporated by reference to the Registrant's Report on
Form&nbsp;6-K furnished to the Securities and Exchange Commission on March&nbsp;25, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.10</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Amended and Restated Business Acquisition Report of the Registrant regarding the acquisition, effective April&nbsp;26, 2013, of
Fission Energy Corp., dated September&nbsp;9, 2013 (incorporated by reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on September&nbsp;10, 2013)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of PricewaterhouseCoopers&nbsp;LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.2</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Ernst&nbsp;&amp; Young&nbsp;LLP</FONT></TD>
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<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:29pt;"><FONT SIZE=1><B>Exhibit<BR>
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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Description </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.3</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Cassels, Brock&nbsp;&amp; Blackwell&nbsp;LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.4</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Steve Blower, P. Geo</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.5</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Terry V. Wetz, P.E.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.6</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Roscoe Postle Associates&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.7</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Leo R. Hwozdyk, P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.8</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Thomas C. Pool, P.E.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.9</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Neil N. Gow, P.Geo.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.10</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Richard E. Routledge, M.Sc., P.Geo.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.11</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of James W. Hendry, P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.12</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Luke Evans, M.Sc., P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.13</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Hrayr Agnerian, M.Sc. (Applied), P. Geo.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.14</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Michel Dagbert, P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.15</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Malcolm Titley, B.Sc. (Geology and Chemistry), MAusIMM, MAIG</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.16</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Mark B. Mathisen, B.Sc., P.G.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.17</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of William E. Roscoe, Ph.D.,.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.18</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of CSA Global (UK)&nbsp;Ltd.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.19</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of SGS Geostat&nbsp;Ltd.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>5.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Powers of Attorney (included on the signature page of this Registration Statement).</FONT></TD>
</TR>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bf40301_part_iii_undertaking_a__bf402236"> </A>
<A NAME="toc_bf40301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PART III<BR>  <BR>    UNDERTAKING AND CONSENT TO SERVICE OF PROCESS    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><A
NAME="bf40301_item_1._undertakings"> </A>
<A NAME="toc_bf40301_2"> </A></FONT> <FONT SIZE=2><B>  Item&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Undertakings    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Commission
staff, and to furnish promptly, when requested to do so by the Commission staff, information relating to the securities registered pursuant to Form&nbsp;F-8 or&nbsp;to transactions in said
securities. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant
further undertakes to disclose in the United&nbsp;States, on the same basis as it is required to make such disclosure pursuant to any applicable Canadian federal and/or
provincial or territorial law, regulation or policy, information regarding purchases of the Registrant's securities or of the subject issuer's securities during the exchange offer. Such information
shall be set forth in amendments to this&nbsp;Form.  </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><A
NAME="bf40301_item_2._consent_to_service_of_process"> </A>
<A NAME="toc_bf40301_3"> </A></FONT> <FONT SIZE=2><B>  Item&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;Consent to&nbsp;Service of Process    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concurrent with the filing of this Registration Statement, the Registrant has filed with the Commission a written irrevocable consent
and power of attorney on Form&nbsp;F-X. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
change to the name or address of the agent for service of process of the Registrant shall be communicated promptly to the Commission by an amendment to the Form&nbsp;F-X
referencing the file number of the relevant registration statement. </FONT></P>

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<!-- ZEQ.=1,SEQ=88,EFW="2216722",CP="DENISON MINES CORPORATION",DN="1",CHK=305033,FOLIO='blank',FILE='DISK134:[13ZCO1.13ZCO40301]BF40301A.;3',USER='RMCIVOR',CD='18-SEP-2013;11:36' -->
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bi40301_signatures"> </A>
<A NAME="toc_bi40301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SIGNATURES    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the </FONT><FONT SIZE=2><I>Securities Act of 1933</I></FONT><FONT SIZE=2>, the Registrant certifies
that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;F-8 and&nbsp;has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Toronto in the Province of Ontario, Canada, on September&nbsp;19,&nbsp;2013. </FONT></P>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><B> DENISON MINES CORP.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>  By:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2>/s/ Ronald F. Hochstein<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Name: Ronald F. Hochstein<BR>
Title: President and Chief Executive Officer<BR></FONT>
</TD>
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</TABLE></DIV>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bi40301_power_of_attorney"> </A>
<A NAME="toc_bi40301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  POWER OF ATTORNEY    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby constitutes and appoints Ronald F. Hochstein and David D. Cates, and each of them, any
of whom may act without the joinder of the other, the true and lawful attorney-in-fact and agent of the undersigned, with full power of substitution and resubstitution, for and in the name, place and
stead of the undersigned, in any and all capacities, to sign any and all amendments to this Registration Statement, including post-effective amendments, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and hereby grants to such attorney-in-fact and agent, full power and authority to do and perform each
and every act and thing requisite and necessary to be done, as fully to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue&nbsp;hereof. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated. </FONT></P>
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<TH style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Signature </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Title </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Date </B></FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ Ronald F. Hochstein<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Ronald F. Hochstein</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>President, Chief Executive Officer and Director (Principal Executive Officer)</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>September 19, 2013</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ David D. Cates<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> David D. Cates</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Vice President Finance, Tax and Chief Financial Officer (Principal Financial and Accounting Officer)</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September 19, 2013</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><BR>



<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Eun Ho Cheong</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ John H. Craig<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> John H. Craig</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September 19, 2013</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ W. Robert Dengler<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> W. Robert Dengler</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September 19, 2013</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ Brian D. Edgar<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Brian D. Edgar</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September 19, 2013</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ Lukas H. Lundin<BR>



<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Lukas H. Lundin</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Chairman of the Board of Directors</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September 19, 2013</FONT></TD>
</TR>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ William A. Rand<BR>



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</FONT> <FONT SIZE=2> William A. Rand</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September 12, 2013</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>/s/ Catherine J. G. Stefan<BR>



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</FONT> <FONT SIZE=2> Catherine J. G. Stefan</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September 19, 2013</FONT></TD>
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<BR></FONT><FONT SIZE=2><B>  AUTHORIZED REPRESENTATIVE    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of Section&nbsp;6(a) of the Securities Act of 1933, as amended, the undersigned has signed this
Registration Statement, solely in the capacity of the duly authorized representative of Denison Mines Corp. in the United&nbsp;States, in the City of Newark, State of Delaware, on
September&nbsp;19,&nbsp;2013. </FONT></P>
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<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><B> PUGLISI&nbsp;&amp;&nbsp;ASSOCIATES</B></FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>  By:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2>/s/ Donald J. Puglisi<BR>


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</FONT> <FONT SIZE=2> Name: Donald J. Puglisi<BR>
Title: Managing Director<BR></FONT>
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<P style="font-family:times;"><FONT SIZE=2><B> EXHIBITS  </B></FONT></P>
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<TH NOWRAP  ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:29pt;"><FONT SIZE=1><B>Exhibit<BR>
Number

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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Description </B></FONT></TH>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Letter of Transmittal dated September&nbsp;19, 2013</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.2</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Notice of Guaranteed Delivery dated September&nbsp;19, 2013</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.3</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and JP Morgan Asset Management (UK) Limited</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.4</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and New&nbsp;City Energy Limited</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.5</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Geiger Counter Limited</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.6</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and City Natural Resources High Yield Trust&nbsp;plc</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.7</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Sprott Asset Management USA&nbsp;Inc.</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.8</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Resource Capital Investment Corp., General Partner</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2.9</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lock Up Agreement between the Registrant and Sprott Asset Management&nbsp;LP</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Annual Information Form for the year ended December&nbsp;31, 2012 (incorporated by reference to the Registrant's Annual Report on
Form&nbsp;40-F, as filed with the Securities and Exchange Commission on March&nbsp;15, 2013)</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.2</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Audited Consolidated Financial Statements, and the related notes thereto, as at December&nbsp;31, 2012 and 2011 and for each of
the years in the two year period ended December&nbsp;31, 2012 and the Auditors' Report thereon (incorporated by reference to the Registrant's Annual Report on Form&nbsp;40-F, as filed with the Securities and Exchange Commission on March&nbsp;15,
2013)</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.3</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management's Discussion and Analysis of Financial Position and Operating Results for the years ended December&nbsp;31, 2012 and
2011 (incorporated by reference to the Registrant's Annual Report on Form&nbsp;40-F, as filed with the Securities and Exchange Commission on March&nbsp;15, 2013)</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.4</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management Information Circular for the Registrant's annual meeting of shareholders held on May&nbsp;9, 2013 (incorporated by
reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on April&nbsp;18, 2013)</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.5</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Unaudited Consolidated Interim Financial Statements and the related notes thereto for the three and six months ended June&nbsp;30,
 2013 and 2012 (incorporated by reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on August&nbsp;20, 2013)</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.6</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Management's Discussion and Analysis of Financial Position and Operating Results for the three and six months ended June&nbsp;30,
2013 and 2012 (incorporated by reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on August&nbsp;20, 2013)</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.7</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Material Change Report of the Registrant dated January&nbsp;16, 2013 (incorporated by reference to the Registrant's Report on
Form&nbsp;6-K furnished to the Securities and Exchange Commission on January&nbsp;17, 2013)</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.8</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Material Change Report of the Registrant dated January&nbsp;17, 2013</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.9</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Material Change Report of the Registrant dated March&nbsp;15, 2013 (incorporated by reference to the Registrant's Report on
Form&nbsp;6-K furnished to the Securities and Exchange Commission on March&nbsp;25, 2013)</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>3.10</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Amended and Restated Business Acquisition Report of the Registrant regarding the acquisition, effective April&nbsp;26, 2013, of
Fission Energy Corp., dated September&nbsp;9, 2013 (incorporated by reference to the Registrant's Report on Form&nbsp;6-K furnished to the Securities and Exchange Commission on September&nbsp;10, 2013)</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of PricewaterhouseCoopers&nbsp;LLP</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.2</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Ernst&nbsp;&amp; Young&nbsp;LLP</FONT></TD>
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Number

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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Description </B></FONT></TH>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.3</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Cassels, Brock&nbsp;&amp; Blackwell&nbsp;LLP</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.4</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Steve Blower, P. Geo</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.5</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Terry V. Wetz, P.E.</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.6</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Roscoe Postle Associates&nbsp;Inc.</FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.7</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Leo R. Hwozdyk, P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.8</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Thomas C. Pool, P.E.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.9</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Neil N. Gow, P.Geo.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.10</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Richard E. Routledge, M.Sc., P.Geo.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.11</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of James W. Hendry, P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.12</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Luke Evans, M.Sc., P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.13</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Hrayr Agnerian, M.Sc. (Applied), P. Geo.</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.14</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Michel Dagbert, P.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.15</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Malcolm Titley, B.Sc. (Geology and Chemistry), MAusIMM, MAIG</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.16</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of Mark B. Mathisen, B.Sc., P.G.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.17</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of William E. Roscoe, Ph.D.,.Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.18</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of CSA Global (UK)&nbsp;Ltd.</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>4.19</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consent of SGS Geostat&nbsp;Ltd.</FONT></TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>5.1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Powers of Attorney (included on the signature page of this Registration Statement).</FONT></TD>
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<DESCRIPTION>EX-2.1
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<BR></FONT><FONT SIZE=2><B>  Exhibit 2.1    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><I>THE INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL SHOULD BE READ CAREFULLY BEFORE THIS LETTER OF TRANSMITTAL IS COMPLETED. THIS LETTER OF TRANSMITTAL IS FOR USE IN
ACCEPTING THE OFFER BY DENISON MINES CORP. TO PURCHASE ALL OUTSTANDING COMMON SHARES (INCLUDING ASSOCIATED RIGHTS UNDER THE SHAREHOLDER RIGHTS PLAN) OF ROCKGATE
CAPITAL&nbsp;CORP.</I></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>LETTER OF TRANSMITTAL  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>for the deposit of Shares and SRP Rights<BR>
of<BR>  </B></FONT><FONT SIZE=4><B>ROCKGATE CAPITAL CORP.<BR>  </B></FONT><FONT SIZE=3><B>under the Offer dated September&nbsp;19, 2013<BR>
made by<BR>  </B></FONT><FONT SIZE=4><B>DENISON MINES CORP.  </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=4><B>

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 </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER 25, 2013 (THE&nbsp;"EXPIRY TIME") UNLESS THE
OFFER IS EXTENDED OR&nbsp;WITHDRAWN.</B></FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>USE THIS LETTER OF TRANSMITTAL IF:   </B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2><B>1.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B> YOU WISH TO ACCEPT THE OFFER AND ARE DEPOSITING COMMON SHARE CERTIFICATE(S)/DRS ADVICE AND, IF APPLICABLE, RIGHTS CERTIFICATE(S);
<BR><BR> </B></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2><B>2.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B> YOU ARE ACCEPTING THE OFFER USING THE PROCEDURES FOR BOOK-ENTRY TRANSFER WITH DTC AND DO NOT HAVE AN AGENT'S MESSAGE;&nbsp;OR
<BR><BR> </B></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2><B>3.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B> YOU PREVIOUSLY DEPOSITED SHARES AND/OR SRP RIGHTS PURSUANT TO A NOTICE OF GUARANTEED DELIVERY.</B></FONT></DD></DL>


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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Letter of Transmittal (the&nbsp;"</FONT><FONT SIZE=2><B>Letter of Transmittal</B></FONT><FONT SIZE=2>"), or a manually executed facsimile hereof, properly completed and executed,
together with all other required documents, is to be used to deposit common shares (the&nbsp;"</FONT><FONT SIZE=2><B>Shares</B></FONT><FONT SIZE=2>"), of Rockgate Capital Corp.
("</FONT><FONT SIZE=2><B>Rockgate</B></FONT><FONT SIZE=2>") under the offer dated September&nbsp;19, 2013 (the&nbsp;"</FONT><FONT SIZE=2><B>Offer</B></FONT><FONT SIZE=2>") made by Denison Mines
Corp. ("</FONT><FONT SIZE=2><B>Denison</B></FONT><FONT SIZE=2>") to purchase, upon and subject to the terms and conditions of the Offer, all of the issued and outstanding Shares, including all Shares
that may become issued and outstanding after the date of the Offer but before the Expiry Time upon the exercise of Options (as&nbsp;defined in the Offer and Circular, as defined below), together
with any SRP Rights (as&nbsp;such term is defined in the Offer and Circular) attached to such Shares pursuant to the Shareholder Rights Plan (as&nbsp;such term is defined in the Offer and
Circular), and must be received by Computershare Investor Services&nbsp;Inc. (the&nbsp;"</FONT><FONT SIZE=2><B>Depositary</B></FONT><FONT SIZE=2>") at or prior to the Expiry Time at its office
specified below. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Offer, holders of Shares (the&nbsp;"</FONT><FONT SIZE=2><B>Shareholders</B></FONT><FONT SIZE=2>") will receive, for each Share (including associated SRP Right) held
0.192 of a common share (each whole common share, a "</FONT><FONT SIZE=2><B>Denison Share</B></FONT><FONT SIZE=2>"). No fractional Denison Shares will be issued under the Offer. Any Shareholder who
would otherwise be entitled to receive a fractional Denison Share will receive the applicable number of Denison Shares, rounded down to the nearest whole&nbsp;number. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
can also accept the Offer by following the procedures for book-entry transfer set forth in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer". A Shareholder accepting the Offer by following the procedures for book-entry transfer does not need to use this
Letter of Transmittal unless such Shareholder is following the procedures for book-entry transfer with DTC and does not </FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>have
an accompanying Agent's Message. A Shareholder who utilizes DTC to accept the Offer by causing DTC to deliver an Agent's Message of the book-entry transfer of such Shareholder's Shares (including
associated SRP Rights) will be bound by the terms of this Letter of Transmittal as if executed by such Shareholder. Shareholders who utilize CDSX to accept the Offer through a book-entry transfer will
be deemed to have completed and submitted a Letter of Transmittal and be bound by the terms hereof. Accordingly, where Shares (including associated SRP Rights) are deposited by way of book-entry
transfer without delivery of an executed Letter of Transmittal, unless the context otherwise requires, references herein to the "undersigned" are to the person on whose behalf that book-entry transfer
is made (notwithstanding that such person has not executed a Letter of Transmittal). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a Shareholder wishes to deposit Shares (including associated SRP Rights) under the Offer and (a)&nbsp;the certificate(s) representing the Shares/DRS Advice and/or if the Separation
Time (as&nbsp;defined in the Shareholder Rights Plan) has occurred prior to the Expiry Time, certificate(s) evidencing the SRP Rights (the&nbsp;"</FONT><FONT SIZE=2><B>Rights
Certificates</B></FONT><FONT SIZE=2>") is (are) not immediately available, (b)&nbsp;the Shareholder cannot complete the procedure for book-entry transfer of the Shares on a timely basis,
(c)&nbsp;the certificate(s)/DRS Advice and all other required documents cannot be delivered to the Depositary prior to the Expiry Time, or (d)&nbsp;if the Separation Time has occurred prior to the
Expiry Time but Rights Certificates have not been distributed to Shareholders prior to the Expiry Time, those Shares (including associated SRP Rights) may nevertheless be deposited under the Offer in
compliance with the procedures for guaranteed delivery set forth in Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Procedure for Guaranteed Delivery" by
using the accompanying Notice of Guaranteed Delivery (printed on pink paper) or a manually executed facsimile thereof, accompanying the Offer and Circular. See Instruction&nbsp;2 below, "Procedure
for Guaranteed Delivery". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
terms and conditions of the Offer are incorporated by reference in this Letter of Transmittal. Capitalized terms used but not defined in this Letter of Transmittal which are defined
in the Offer and related circular dated September&nbsp;19, 2013 (the&nbsp;"</FONT><FONT SIZE=2><B>Offer and Circular</B></FONT><FONT SIZE=2>") have the respective meanings ascribed thereto in the
Offer and Circular. All dollar references in this Letter of Transmittal refer to Canadian dollars, except where otherwise indicated. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
used herein, the term "</FONT><FONT SIZE=2><B>U.S.&nbsp;Shareholder</B></FONT><FONT SIZE=2>" means a beneficial owner of Shares that is (a)&nbsp;an individual citizen or resident
of the United&nbsp;States, for U.S.&nbsp;federal income tax purposes, (b)&nbsp;a corporation, partnership or other entity taxable as a corporation or partnership created or organized under the
laws of the United&nbsp;States or any State thereof, (c)&nbsp;an estate the income of which is subject to U.S.&nbsp;federal income tax without regard to its source or (d)&nbsp;a trust if a
court within the United&nbsp;States is able to exercise primary supervision over the administration of the trust and one or more U.S.&nbsp;persons have the authority to control all substantial
decisions of the trust, or the trust has elected to be treated as a domestic trust for U.S.&nbsp;federal income tax&nbsp;purposes. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Questions or requests for assistance in accepting the Offer, completing this Letter of Transmittal and depositing Shares (including associated SRP Rights) with
the Depositary may be directed to the Depositary or the Information Agent. Their contact details are provided at the end of this document. Shareholders whose Shares are registered in the name of an
investment advisor, stockbroker, bank, trust company or other nominee should immediately contact that nominee for assistance if they wish to accept the Offer in order to take the necessary steps to be
able to deposit such Shares (including associated SRP Rights) under the&nbsp;Offer.</B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>DELIVERY OF THIS LETTER OF TRANSMITTAL TO AN ADDRESS OTHER THAN THE ADDRESS OF THE DEPOSITARY SET FORTH BELOW WILL NOT CONSTITUTE A VALID DELIVERY TO
THE&nbsp;DEPOSITARY.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>YOU MUST SIGN THIS LETTER OF TRANSMITTAL IN THE APPROPRIATE SPACE PROVIDED BELOW AND IF YOU ARE A U.S.&nbsp;SHAREHOLDER, YOU MUST ALSO COMPLETE THE FORM
W-9&nbsp;SET FORTH BELOW (SEE&nbsp;INSTRUCTION 7&nbsp;BELOW, "FORM W-9&nbsp;FOR U.S.&nbsp;SHAREHOLDERS ONLY"). IF YOU HAVE A U.S.&nbsp;ADDRESS, BUT ARE NOT A U.S.&nbsp;SHAREHOLDER,
PLEASE SEE INSTRUCTION 7&nbsp;BELOW.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>2</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>Please read carefully the Instructions set forth below before completing this Letter of&nbsp;Transmittal.</I></B></FONT></P>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><B> </B></FONT><FONT SIZE=2><B>TO:</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B> DENISON MINES CORP.</B></FONT></TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><B> </B></FONT><FONT SIZE=2><B>AND TO:</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B> COMPUTERSHARE INVESTOR SERVICES&nbsp;INC.</B></FONT></TD>
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 <P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned delivers to you the enclosed certificate(s) representing Shares/DRS Advice deposited under the Offer. Subject only to the withdrawal rights in respect of the Shares
described in the Offer and Circular or available at Law, the undersigned irrevocably accepts the Offer for such Shares upon the terms and conditions contained in the Offer and this Letter of
Transmittal. The following are the details of the enclosed certificate(s)/DRS Advice: </FONT></P>
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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="134pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="134pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="134pt" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B>Box&nbsp;1</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SHARES<BR> </B></FONT><FONT SIZE=1>(Please print or type. If space is insufficient, please attach a list to this Letter of Transmittal in the form below.)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Certificate Number(s)/DRS<BR>
Advice Statement<BR>
Number(s)<BR>
(if&nbsp;available)*</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Name(s) in Which<BR>
Share(s) is (are)<BR>
Registered (fill in exactly as<BR>
name(s) appear(s) on<BR>
certificate(s)/DRS Advice)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number of Shares<BR>
Represented by<BR>
Certificate(s)/DRS Advice*</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
Shares Deposited**</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> TOTAL:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;<BR></FONT></P>
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:12%;">
 <DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>*</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>You
do not need to complete these columns in respect of Shares deposited by book-entry transfer.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>**</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Unless
otherwise indicated, the total number of Shares evidenced by all certificates/DRS Advice delivered will be deemed to have been deposited. See
Instruction&nbsp;6 below, "Partial Deposits". </FONT></DD></DL>
 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned understands that by depositing the Shares to the Offer, the undersigned will be deemed to have deposited associated SRP Rights.
Shareholders are required to deposit one SRP Right for each Share in order to effect a valid deposit of such Share or, if available, a Book-Entry Confirmation must be received by the Depositary with
respect thereto. No additional payment will be made for SRP Rights and no amount of the consideration to be paid by Denison will be allocated by Denison to SRP Rights. </FONT><FONT SIZE=2><B>Please
note that you need not complete Box&nbsp;2 if the Separation Time has not occurred prior to the Expiry Time.</B></FONT><FONT SIZE=2> The following are the details of the enclosed certificate(s): </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="134pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="134pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="134pt" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> Box&nbsp;2</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> SRP RIGHTS</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1> (Please print or type. If space is insufficient, please attach a list to this Letter of Transmittal in the form below.)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Certificate Number(s) (if&nbsp;available)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Name(s) in Which<BR>
Share(s) is (are)<BR>
Registered (fill in exactly as<BR>
name(s) appear(s) on<BR>
certificate(s))</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number of SRP Rights<BR>
Represented by<BR>
Certificate(s)*</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
SRP Rights Deposited**</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> TOTAL:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;">&nbsp;</TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:12%;">
 <DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>*</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>You
do not need to complete these columns in respect of SRP Rights deposited by book-entry transfer.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>**</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Unless
otherwise indicated, the total number of SRP Rights evidenced by all certificates delivered will be deemed to have been deposited. See
Instruction&nbsp;6 below, "Partial Deposits". </FONT></DD></DL>
 </DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following procedures must be followed in order to effect the valid deposit of SRP&nbsp;Rights: </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Separation Time does not occur prior to the Expiry Time, a deposit of Shares will also constitute a deposit of the associated SRP Rights. If the Separation Time occurs prior to
the Expiry Time and Rights Certificates are distributed to Shareholders prior to the time that a Shareholder deposits its Shares pursuant to the Offer, in order for the Shares to be validly deposited,
Rights Certificate(s) representing SRP Rights equal in number to the number of Shares deposited must be delivered to the Depositary. If the Separation Time occurs prior to the Expiry Time and Rights
Certificates have not been distributed to Shareholders by the time that a Shareholder deposits its Shares pursuant to the Offer, the Shareholder may deposit its SRP Rights prior to receiving Rights
Certificate(s) by using the procedures for guaranteed delivery described herein. In any case, a deposit of Shares constitutes an agreement by the Shareholder to deliver Rights Certificate(s)
representing the associated SRP Rights to the Depositary prior to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the Toronto Stock Exchange
("</FONT><FONT SIZE=2><B>TSX</B></FONT><FONT SIZE=2>") after the date, if any, that Rights Certificates are distributed to Shareholders. Denison reserves the right to require, if the Separation Time
occurs prior to the Expiry Time, that the Depositary receives Rights Certificate(s) from a Shareholder representing such SRP Rights prior to Denison taking up the Shares deposited (together with any
SRP Rights attached to such shares (the&nbsp;"</FONT><FONT SIZE=2><B>Deposited Shares</B></FONT><FONT SIZE=2>") for payment pursuant to the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned acknowledges receipt of the Offer and Circular and acknowledges and agrees&nbsp;that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
deposit of Shares (including associated SRP Rights) under the Offer will constitute a binding agreement between the undersigned and Denison, upon and
subject to the terms and conditions of the Offer and this Letter of&nbsp;Transmittal;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
deposit of Shares constitutes an agreement by the undersigned to deliver Rights Certificate(s) representing the associated SRP Rights, to the Depositary
prior to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the TSX after the date, if any, that Rights Certificate(s) are distributed to the undersigned;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Denison
reserves the right to require, if a Separation Time occurs prior to the Expiry Time, that the Depositary receives Rights Certificate(s) from the
undersigned representing SRP Rights prior to Denison taking up the Deposited Shares for payment pursuant to the&nbsp;Offer. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned represents and warrants that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
undersigned has full power and authority to deposit, sell, assign and transfer (i)&nbsp;the Deposited Shares, and (ii)&nbsp;all rights and benefits
arising from such Deposited Shares, including, without limitation, any and all dividends, distributions, payments, securities, property, rights or other interests that may be declared, paid, accrued,
issued, distributed, made or transferred on or in respect of the Deposited Shares or any of them on and after the date of the Offer, including, without limitation, any dividends, distributions or
payments on such dividends, distributions, payments, securities, property, rights or other interests (collectively, "</FONT><FONT SIZE=2><B>Distributions</B></FONT><FONT SIZE=2>");
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
undersigned owns the Deposited Shares;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(f)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Deposited Shares and Distributions have not been sold, assigned or transferred, nor has any agreement been entered into to sell, assign or transfer any
of the Deposited Shares and Distributions, to any other&nbsp;person;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(g)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
deposit of the Deposited Shares and Distributions complies with applicable Laws;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(h)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>when
the Deposited Shares and Distributions are taken up and paid for by Denison, Denison will acquire good title thereto, free and clear of all liens,
restrictions, charges, encumbrances, claims and rights of&nbsp;others. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
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<UL>
</UL>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>IN CONSIDERATION OF THE OFFER AND FOR VALUE RECEIVED</B></FONT><FONT SIZE=2>, upon the terms and subject to the conditions set forth in the Offer and in this
Letter of Transmittal, subject only to the withdrawal rights in respect of the Shares described in the Offer or available at Law, the undersigned irrevocably accepts the Offer for and in respect of
the Deposited Shares and (unless the deposit is made pursuant to the procedure for book-entry transfer set forth in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer") delivers to Denison the enclosed Share (including associated SRP Right) certificate(s)/DRS Advice representing
the Deposited Shares and deposits, sells, assigns and transfers to Denison all right, title and interest in and to the Deposited Shares, and in and to all rights and benefits arising from the
Deposited Shares and any and all Distributions. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned acknowledges that under certain circumstances Denison may, among other things, (i)&nbsp;vary, extend or terminate the Offer (see&nbsp;Section&nbsp;5 of the Offer,
"Extension, Variation or Change in the Offer"), or (ii)&nbsp;make such adjustments as it considers appropriate to the Purchase Price and other terms of the Offer to reflect any changes on or after
the date of the Offer in the Shares (including associated SRP Rights) or Rockgate's capitalization (see&nbsp;Section&nbsp;9 of the Offer, "Changes in Capitalization; Adjustments; Liens"). In
addition, the undersigned acknowledges that if, on or after the date of the Offer, Rockgate should declare, set aside or pay any dividend or other Distribution, which is payable or distributable to
Shareholders on a record date prior to the date of transfer into the name of Denison or its nominee or transferee on the securities registers maintained by or on behalf of Rockgate in respect of
Shares (including associated SRP Rights) accepted for purchase under the Offer, then Denison may reduce the Purchase Price per share payable pursuant to the Offer or the undersigned may be required to
promptly transfer to Denison such Distributions, all in accordance with the terms of the Offer (see&nbsp;Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Dividends and Distributions"). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned irrevocably constitutes and appoints effective at and after the time (the&nbsp;"</FONT><FONT SIZE=2><B>Effective Time</B></FONT><FONT SIZE=2>") that Denison takes up
the Deposited Shares, Denison, each director and officer of Denison and any other person designated by Denison in writing, as the true and lawful agent, attorney, attorney-in-fact and proxy of the
holder of the Deposited Shares with respect to the Deposited Shares, including any Distributions, with full power of substitution (such power of attorney, being coupled with an interest, being
irrevocable), in the name of and on behalf of such Shareholder: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
register or record the transfer and/or cancellation of such Deposited Shares (including any Distributions to the extent consisting of securities) on the
appropriate registers maintained by or on behalf of&nbsp;Rockgate;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
exercise any and all rights of such Deposited Shares including, without limitation, the right to vote any and all of such Deposited Shares, the right to
execute and deliver (provided the same is not contrary to applicable laws), as and when requested by Denison, any and all instruments of proxy, authorizations, requisitions, resolutions (whether in
writing or otherwise and including any counterparts thereof), consents and directions in form and on terms satisfactory to Denison in respect of any or all Deposited Shares, the right to revoke any
such instruments, authorizations, requisitions, resolutions, consents or directions, given prior to or after the Effective Time, and the right to designate in any such instruments, authorizations,
requisitions, resolutions, consents and directions, any person or persons as the proxy of such Shareholder in respect of such Deposited Shares for all purposes including, without limitation, in
connection with any meeting or meetings (whether annual, special or otherwise, or any adjournments thereof, including, without limitation, any meeting to consider a Subsequent Acquisition Transaction
(as&nbsp;defined in the Offer and Circular)) of holders of relevant securities of&nbsp;Rockgate;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
execute, endorse and negotiate, for and in the name of and on behalf of such Shareholder, any and all cheques or other instruments representing any
Distributions payable to or to the order of, or endorsed in favour of, such Shareholder and/or designate in any instruments of proxy any person(s) as the proxy or the proxy nominee(s) of such
Shareholder in respect of such Distributions for all purposes;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>to
exercise any other rights of a Shareholder with respect to such Deposited Shares (including any Distributions). </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dc40304_1_6"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned revokes any and all other authority, whether as agent, attorney, attorney-in-fact, proxy or otherwise, previously conferred or agreed to be conferred by the undersigned
at any time with respect to the
Deposited Shares, and agrees that no subsequent authority, whether as agent, attorney, attorney-in-fact, proxy or otherwise will be granted with respect to the Deposited Shares or any Distribution by
or on behalf of the undersigned unless the Deposited Shares are not taken up and paid for in accordance with the terms of the Offer or are withdrawn in accordance with Section&nbsp;8 of the Offer,
"Withdrawal of Deposited Shares". </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned also agrees not to vote any of the Deposited Shares at any meeting (whether annual, special or otherwise or any adjournment(s) or postponement(s) thereof, including,
without limitation, any meeting to consider a Subsequent Acquisition Transaction) of holders of relevant securities of Rockgate and, except as may be agreed to by Denison in writing, not to exercise
any of the other rights or privileges attached to the Deposited Shares, and agrees to execute and deliver to Denison any and all instruments of proxy, authorizations, consents and directions in
respect of all or any of the Deposited Shares, and agrees to designate or appoint in any such instruments of proxy, authorizations, consents and directions the person or persons specified by Denison
as the proxy or proxy nominee or nominees of the holder of the Deposited Shares. </FONT><FONT SIZE=2><B>Upon such appointment, all prior proxies and other authorizations (including, without
limitation, all appointments of any agent, attorney or attorney-in-fact) or consents given by the holder of such Deposited Shares with respect thereto will be revoked and no subsequent proxies or
other authorization or consents may be given by such person with respect thereto.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned covenants to execute, upon request of Denison, any additional documents, transfers and other assurances as may be necessary or desirable to complete the sale, assignment
and transfer of the Deposited Shares to Denison. Each authority herein conferred or agreed to be conferred is, to the extent permitted by applicable Laws, irrevocable and may be exercised during any
subsequent legal incapacity of the undersigned and shall, to the extent permitted by applicable Laws, survive the death or incapacity, bankruptcy or insolvency of the undersigned and all obligations
of the undersigned herein shall be binding upon the heirs, executors, administrators, attorneys, personal representatives, successors and assigns of the undersigned. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Depositary will act as the agent of persons who have deposited Shares (including associated SRP Rights) in acceptance of the Offer for the purposes of receiving payment from Denison
and transmitting such payment to such persons, and receipt of payment by the Depositary will be deemed to constitute receipt of payment by persons depositing Shares (including associated SRP Rights)
under the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Settlement
with each Shareholder who has deposited (and&nbsp;not withdrawn) Shares (including associated SRP Rights) under the Offer that have been taken up and accepted for payment
will be made by the Depositary by forwarding a DRS Advice representing Denison Shares (or, in the case of Shares (including associated SRP Rights) deposited by book-entry transfer, the credit of
Denison Shares), by crediting the Denison Shares to the account at CDS or DTC, as applicable, from which such book-entry transfer was&nbsp;made. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise directed in this Letter of Transmittal, the DRS Advice representing Denison Shares (or, in the case of Shares (including associated SRP Rights) deposited by book-entry
transfer, the credit of Denison Shares) will be issued in the name of the registered holder of the Shares (including associated SRP Rights) so deposited. Unless the undersigned instructs the
Depositary to hold the DRS Advice representing Denison Shares for pick-up by checking the appropriate box (Block D)&nbsp;in this Letter of Transmittal the DRS Advice representing Denison Shares
(except in the case of Shares (including associated SRP Rights) deposited by book-entry transfer) will be forwarded by first class mail to such Shareholder at the address specified in this Letter of
Transmittal. If no such address is specified, the DRS Advice representing Denison Shares will be sent to the address of the registered holder as shown on the securities register maintained by or on
behalf of
Rockgate. DRS Advice mailed in accordance with this paragraph will be deemed to be delivered at the time of mailing. Pursuant to applicable Laws, Denison may, in certain circumstances, be required to
make withholdings from the amount otherwise payable to a Shareholder. The undersigned understands and acknowledges that under no circumstances will interest accrue, or be paid by Denison or the
Depositary by reason of any delay in making payments for any Shares (including associated SRP Rights) to any person on account of Shares (including associated SRP Rights) accepted for payment under
the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
Deposited Shares that are not taken up and paid for by Denison pursuant to the terms and conditions of the Offer for any reason will be returned, at Denison's expense, to the
depositing Shareholder as soon as </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=6,EFW="2216722",CP="DENISON MINES CORPORATION",DN="2",CHK=367837,FOLIO='6',FILE='DISK105:[13ZCO4.13ZCO40304]DC40304A.;3',USER='MPAPADI',CD='19-SEP-2013;03:54' -->
<A NAME="page_dc40304_1_7"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>practicable
after the Expiry Time or withdrawal or termination of the Offer by either: (i)&nbsp;sending certificates/DRS Advice representing the Shares (including associated SRP Rights) not
purchased by first class insured mail to the address of the depositing Shareholder specified in this Letter of Transmittal or, if such name or address is not so specified, in such name and to such
address as shown on the securities register maintained by or on behalf of Rockgate; or (ii)&nbsp;in the case of Shares (including associated SRP Rights) deposited by book-entry transfer, pursuant to
the procedures set out in Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Acceptance by Book-Entry Transfer", crediting such Shares (including associated
SRP Rights) to the account at CDS or DTC, as applicable, from which such book-entry transfer was&nbsp;made. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Shareholders will not be required to pay any fee or commission if they accept the Offer by depositing their Shares (including associated SRP Rights) directly with
the&nbsp;Depositary.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
reason of the use by the undersigned of an English language form of Letter of Transmittal, the undersigned shall be deemed to have required that any contract evidenced by the Offer as
accepted through this Letter of Transmittal, as well as all documents related thereto, be drawn exclusively in the English language. </FONT><FONT SIZE=2><I>En raison de l'usage d'une lettre d'envoi
en langue anglaise par le soussigne, le soussigne est repute avoir requis que tout contrat atteste par l'offre et son acceptation par cette lettre d'envoi, de meme que tous les documents qui s'y
rapportent, soient rediges exclusivement en langue anglaise.</I></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>7</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> SHAREHOLDER INFORMATION AND INSTRUCTIONS  </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><I>Before signing this Letter of Transmittal please review carefully and complete the following boxes, as&nbsp;appropriate.  </I></FONT></P>

<DIV style='position:relative;float:left;margin:right=3%;width:47%'>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>BLOCK A</B></FONT><BR>
<FONT SIZE=2><B>REGISTRATION AND PAYMENT</B></FONT><BR>
<FONT SIZE=2><B>INSTRUCTIONS</B></FONT><BR>
<FONT SIZE=1>ISSUE SHARE CERTIFICATE/DRS ADVICE<BR>
REPRESENTING DENISON SHARES<BR>
IN THE NAME OF:<BR></FONT> <FONT SIZE=1><I>(please print or type)</I></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Name)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Street Address and Number)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(City and Province or State)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Country and Postal (Zip) Code)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Telephone&nbsp;&#151;&nbsp;Business Hours)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Tax&nbsp;Identification, Social Insurance or<BR>
Social Security Number)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=1><BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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<DIV
style='position:relative;float:right;margin:left=3%;width:47%'>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>BLOCK B</B></FONT><BR>
<FONT SIZE=2><B>DELIVERY INSTRUCTIONS</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1> SEND SHARE CERTIFICATE/DRS ADVICE<BR>
REPRESENTING DENISON SHARES<BR>
(Unless Block D is checked) TO:</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1> <FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Same as address in Block A or to:</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Name)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Street Address and Number)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(City and Province or State)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Country and Postal (Zip) Code)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Telephone&nbsp;&#151;&nbsp;Business Hours)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Tax&nbsp;Identification, Social Insurance or<BR>
Social Security Number)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=1> *&nbsp;&nbsp;The delivery instructions given in this Block B will also<BR>
&nbsp;&nbsp;&nbsp;&nbsp;be used to return certificate(s)/DRS Advice representing<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Shares (including associated SRP Rights) if required<BR>
&nbsp;&nbsp;&nbsp;&nbsp;for any reason.</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=1><BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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<DIV
style='position:relative;float:left;margin:right=0%;width:100%;'></DIV>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;<BR></FONT></P>


</DIV>

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<P style="font-family:times;font-size:1pt;margin-top:-1pt;">&nbsp;</P>

<DIV
style='position:relative;float:left;margin:right=3%;width:47%'>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TD WIDTH="" style="font-family:times;"></TD>
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<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>BLOCK C</B></FONT><BR>
<FONT SIZE=2><B>TAXPAYER IDENTIFICATION NUMBER</B></FONT><BR>
<FONT SIZE=1> U.S.&nbsp;residents/citizens must provide their<BR>
Taxpayer Identification Number</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>(Taxpayer Identification Number)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=1> If you are a U.S.&nbsp;Shareholder or are acting on behalf of a U.S.&nbsp;Shareholder, in order to avoid backup withholding you must complete the Form&nbsp;W-9 included below, or otherwise provide certification that
you are exempt from backup withholding. If you are not a U.S.&nbsp;Shareholder, but have a U.S.&nbsp;address, you must provide a completed U.S.&nbsp;Internal Revenue Service Form&nbsp;W-8 in order to avoid backup withholding. See Instruction&nbsp;7
below, "Form&nbsp;W-9 for U.S.&nbsp;Shareholders Only", for further details.</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=1><BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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<DIV
style='position:relative;float:right;margin:left=3%;width:47%'>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><BR><FONT SIZE=2><B>BLOCK D</B></FONT><BR>
<FONT SIZE=2><B>SPECIAL PICK-UP INSTRUCTIONS</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=1> <FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;HOLD SHARE CERTIFICATE/DRS ADVICE<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTING DENISON SHARES FOR PICK-UP<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AT THE OFFICE OF THE DEPOSITARY WHERE<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS LETTER OF TRANSMITTAL IS DEPOSITED<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=1><I>(check&nbsp;box)</I></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:times;"><BR><FONT SIZE=1><BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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<DIV
style='position:relative;float:left;margin:right=0%;width:100%;'></DIV>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>8</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=8,EFW="2216722",CP="DENISON MINES CORPORATION",DN="2",CHK=328514,FOLIO='8',FILE='DISK105:[13ZCO4.13ZCO40304]DE40304A.;12',USER='MPAPADI',CD='19-SEP-2013;03:54' -->
<A NAME="page_de40304_1_9"> </A>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TD WIDTH="" style="font-family:times;"></TD>
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<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>BLOCK E</B></FONT><BR>
<FONT SIZE=2><B>DEPOSIT PURSUANT TO NOTICE OF GUARANTEED DELIVERY</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=2> <FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;CHECK HERE IF SHARES OR SRP RIGHTS ARE BEING DEPOSITED PURSUANT TO A<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTICE OF GUARANTEED DELIVERY PREVIOUSLY SENT TO THE OFFICE OF THE<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DEPOSITARY AND COMPLETE THE FOLLOWING: </FONT><FONT SIZE=1>(please print or type)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR><FONT SIZE=2> Name of Registered Holder&nbsp;&nbsp;</FONT>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR><FONT SIZE=2> Date of Execution of Guaranteed Delivery&nbsp;&nbsp;</FONT>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR><FONT SIZE=2> Window Ticket Number (if&nbsp;any)&nbsp;&nbsp;</FONT>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR>
<BR></FONT>
</TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR><FONT SIZE=2> Name of Institution which Guaranteed Delivery&nbsp;&nbsp;</FONT>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=2><BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>BLOCK F<BR>
U.S.&nbsp;SHAREHOLDERS&nbsp;&#151;&nbsp;TAX</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=2> INDICATE WHETHER OR NOT YOU ARE A U.S.&nbsp;SHAREHOLDER, ARE ACTING ON BEHALF OF A U.S.&nbsp;SHAREHOLDER OR HAVE A U.S.&nbsp;ADDRESS:</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=2> <FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;The person signing this Letter of Transmittal represents that it is not a U.S.&nbsp;Shareholder, is not acting<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;on behalf of a U.S.&nbsp;Shareholder and does not have a U.S.&nbsp;address; or</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=2> <FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;The person signing this Letter of Transmittal represents that it is a U.S.&nbsp;Shareholder, is acting on<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;behalf of a U.S.&nbsp;Shareholder or has a U.S.&nbsp;address.</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=2><B> IF YOU ARE (I)&nbsp;A U.S.&nbsp;SHAREHOLDER, (II)&nbsp;ARE ACTING ON BEHALF OF A U.S.&nbsp;SHAREHOLDER OR (III)&nbsp;HAVE A U.S.&nbsp;ADDRESS, THEN IN ORDER TO AVOID BACK-UP WITHHOLDING YOU MUST COMPLETE AND
SUBMIT TO THE DEPOSITARY THE FORM W-9&nbsp;INCLUDED BELOW, OR OTHERWISE PROVIDE CERTIFICATION THAT YOU ARE EXEMPT FROM BACKUP WITHHOLDING, AS PROVIDED IN INSTRUCTION 7&nbsp;BELOW. IF YOU REQUIRE A FORM W-8, PLEASE CONTACT THE
DEPOSITARY.</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><BR><FONT SIZE=2><BR>
<BR></FONT>
</TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="47%" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="47%" style="font-family:times;"></TD>
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<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>BLOCK G</B></FONT><BR>
<FONT SIZE=2><B>SHAREHOLDER SIGNATURE</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><B><I> By signing below, the Shareholder expressly agrees to the terms and conditions set forth above.</I></B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Signature guaranteed by<BR>
(if&nbsp;required under Instruction&nbsp;3 below):</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2>Dated:&nbsp;&nbsp;</FONT>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Authorized Signature of Guarantor</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Signature of Shareholder or Authorized Representative<BR>
(see&nbsp;Instructions&nbsp;2, 3 and&nbsp;4 below)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Name of Guarantor (please print or type)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Name of Shareholder or Authorized Representative<BR>
(please print or type)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Address of Guarantor (please print or type)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Daytime telephone number and facsimile number of<BR>
Shareholder or Authorized Representative</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Tax Identification, Social Insurance or<BR>
Social Security Number</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>9</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dg40304_instructions"> </A>
<A NAME="toc_dg40304_1"> </A>
<BR></FONT><FONT SIZE=2><B>  INSTRUCTIONS    <BR>    </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Use of Letter of Transmittal  </B></FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>This
Letter of Transmittal, or a manually executed facsimile hereof, properly completed and executed, with the signature(s) guaranteed, if required by
Instruction&nbsp;3 below, together with the accompanying certificate(s)/DRS Advice representing the Deposited Shares (or, alternatively, Book-Entry Confirmation with respect thereto), and all other
documents required by the terms of the Offer and this Letter of Transmittal must be received by the Depositary at its office specified in this Letter of Transmittal at or prior to the Expiry Time,
unless the Offer is extended or withdrawn or unless the procedure for guaranteed delivery set out in Instruction&nbsp;2 below is&nbsp;used.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>The
method used to deliver this Letter of Transmittal, any accompanying certificate(s)/DRS Advice representing Shares (including associated SRP Rights) and
all other required documents is at the option and risk of the Shareholder depositing these documents. Denison recommends that these documents be delivered by hand to the Depositary and that a receipt
be obtained or, if mailed, that registered mail, with return receipt requested, be used and that proper insurance be obtained. It is suggested that any such mailing be made sufficiently in advance of
the Expiry Time to permit delivery to the Depositary at or prior to the Expiry Time. Delivery will only be effective upon actual physical receipt by the&nbsp;Depositary.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Shareholders
whose Shares (including associated SRP Rights) are registered in the name of an investment advisor, stockbroker, bank, trust company or other
nominee should immediately contact such nominee for assistance in depositing their Shares (including associated SRP&nbsp;Rights). </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Procedure for Guaranteed Delivery  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a Shareholder wishes to deposit Shares under the Offer and (i)&nbsp;the certificate(s)/DRS Advice representing the Shares and/or if the Separation Time has
occurred prior to the Expiry Time, the Rights Certificate(s) is (are) not immediately available; (ii)&nbsp;the certificate(s)/DRS Advice and all other required documents cannot be delivered to the
Depositary at or prior to the Expiry Time; or (iii)&nbsp;if the Separation Time has occurred prior to the Expiry Time but Rights Certificates have not been distributed to Shareholders prior to the
Expiry Time, those Shares (including associated SRP Rights) may nevertheless be deposited validly under the Offer provided that all of the following conditions
are&nbsp;met: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
deposit is made by or through an Eligible Institution (as&nbsp;defined&nbsp;below);
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Notice of Guaranteed Delivery or a manually executed facsimile hereof, properly completed and executed, including the guarantee of delivery by an
Eligible Institution in the form set out below, is received by the Depositary at its office in Toronto, Ontario specified in the Notice of Guaranteed Delivery at or prior to the Expiry&nbsp;Time;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
certificate(s)/DRS Advice representing all Deposited Shares, and if the Separation Time has occurred prior to the Expiry Time and Rights Certificates
have been distributed to Shareholders prior to the Expiry Time, the Rights Certificates representing the associated SRP Rights, in proper form for transfer, together with a Letter of Transmittal, or a
manually executed facsimile thereof, properly completed and executed, with the signatures guaranteed, if required, in accordance with the instructions set out in this Letter of Transmittal and all
other documents required by the terms of the Offer and this Letter of Transmittal, are received by the Depositary at its office in Toronto, Ontario specified in this Letter of Transmittal at or prior
to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the TSX after the Expiry Time;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if
the Separation Time has occurred prior to the Expiry Time but Rights Certificates have not been distributed to Shareholders prior to the Expiry Time, the
Rights Certificates representing the deposited SRP Rights, together with a Letter of Transmittal, or a manually executed facsimile thereof, properly completed and duly executed with signatures
guaranteed if so required in accordance with this Letter of Transmittal, and all other documents required by this Letter of Transmittal are received by the </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10</FONT></P>

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<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dg40304_1_11"> </A>
<UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>Depositary
at its office set forth herein on or prior to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the TSX after the date, if any, that Rights Certificates are distributed to
Shareholders. </FONT></P>

</UL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>The Notice of Guaranteed Delivery must be delivered by hand or courier or transmitted by facsimile or mailed to the Depositary at its office in Toronto, Ontario
specified in the Notice of Guaranteed Delivery at or prior to the Expiry Time and must include a guarantee by an Eligible Institution in the form set out in the Notice of Guaranteed Delivery. Delivery
of the Notice of Guaranteed Delivery and this Letter of Transmittal and accompanying certificate(s)/DRS Advice representing Shares (including associated SRP Rights) and all other required documents to
an address or transmission by facsimile number other than those specified in the Notice of Guaranteed Delivery does not constitute delivery for purposes of satisfying a guaranteed
delivery.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
"</FONT><FONT SIZE=2><B>Eligible Institution</B></FONT><FONT SIZE=2>" means a Canadian Schedule&nbsp;1 chartered bank, a major trust company in Canada, a member of the Securities
Transfer Agent Medallion Program (STAMP), a member of the Stock Exchanges Medallion Program (SEMP) or a member of the New&nbsp;York Stock Exchange&nbsp;Inc. Medallion Signature Program (MSP).
Members of these programs are usually members of a recognized stock exchange in Canada or the United&nbsp;States, members of the Investment Industry Regulatory Organization of Canada, members of the
Financial Industry Regulatory Authority or banks and trust companies in the United&nbsp;States. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signatures  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Letter of Transmittal must be completed and executed by the Shareholder accepting the Offer described above or by such Shareholder's duly authorized
representative (in&nbsp;accordance with Instruction&nbsp;4&nbsp;below).  </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>If
this Letter of Transmittal is executed by the registered holder(s) of the accompanying certificate(s)/DRS Advice, such signature(s) on this Letter of
Transmittal must correspond exactly with the name(s) as registered or as written on the face of such certificate(s)/DRS Advice without any change whatsoever, and the certificate(s)/DRS Advice need not
be endorsed. If such deposited certificate(s)/DRS Advice are owned of record by two or more joint holders, all such holders must execute this Letter of&nbsp;Transmittal.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Notwithstanding
Instruction&nbsp;3(a), if this Letter of Transmittal is executed by a person other than the registered holder(s) of the accompanying
certificate(s)/DRS Advice, or if this Letter of Transmittal is executed other than exactly as the name of the registered Shareholder appears on the share certificate/DRS Advice, or if the share
certificate(s)/DRS Advice representing Denison Shares (except in the case of Shares (including associated SRP Rights) deposited by book-entry transfer) or if the certificate(s)/DRS Advice representing
Shares (including associated SRP Rights) in respect of which the Offer is not being accepted is (are) to be returned to a person other than such registered holder(s) or sent to an address other than
the address of the registered holder(s) shown on the securities register maintained by or on behalf of&nbsp;Rockgate:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
accompanying certificate(s)/DRS Advice must be endorsed or be accompanied by an appropriate share transfer power of attorney, in either case, duly and
properly completed by the registered holder(s);&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
signature on the endorsement panel or share transfer power of attorney must correspond exactly to the name(s) of the registered holder(s) as registered
or as written on the face of the certificate(s)/DRS Advice, and must be guaranteed by an Eligible Institution (except that no guarantee is required if the signature is that of an Eligible
Institution). </FONT></DD></DL>
</DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiduciaries, Representatives and Authorizations  </B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where this Letter of Transmittal is executed by a person as an executor, administrator, trustee or guardian, or on behalf of a corporation, partnership or
association or is executed by any other person acting in a
representative capacity, such person should so indicate when signing and this Letter of Transmittal must be accompanied by satisfactory evidence of the authority to act. Either Denison or the
Depositary, at its sole discretion, may require additional evidence of authority or additional documentation. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>11</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dg40304_1_12"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery Instructions  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any share certificate(s)/DRS Advice representing Denison Shares (except in the case of Shares (including associated SRP Rights) deposited by book-entry
transfer) is (are) to be sent to or if certificate(s)/DRS Advice representing Shares (including associated SRP Rights) in respect of which the Offer is not being accepted is (are) are to be returned
to someone at an address other than the address of the Shareholder as it appears in Block A on this Letter of Transmittal, entitled "Registration and Payment Instructions", then Block B on this Letter
of Transmittal, entitled "Delivery Instructions", should be completed. If Block B is not completed, any share certificate(s)/DRS Advice representing Denison Shares (except in the case of Shares
(including associated SRP Rights) deposited by book-entry transfer) will be mailed to the depositing Shareholder at the address of such Shareholder as it appears in Block A or, if no address is
provided in Block A, then it will be mailed to the address of such Shareholder as it appears on the securities register maintained by or on behalf of Rockgate. Any share certificate(s)/DRS Advice
mailed in accordance with the terms of the Offer and this Letter of Transmittal will be deemed to be delivered at the time of&nbsp;mailing. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partial Deposits  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If fewer than the total number of Shares (including associated SRP Rights) evidenced by any certificate(s)/DRS Advice submitted is to be deposited, fill in the
number of Shares and SRP Rights to be deposited in the appropriate space in Box&nbsp;1 and Box&nbsp;2, entitled "Shares" and "SRP Rights", as applicable, on this Letter of Transmittal. In such
case, new certificate(s)/DRS Advice for the number of Shares (including associated SRP Rights) not deposited under the Offer will be sent to the registered holder as soon as practicable after the
Expiry Time (unless such holder completes Block B on this Letter of Transmittal). The total number of Shares (including associated SRP Rights) evidenced by all certificates/DRS Advice delivered will
be deemed to have been deposited unless otherwise indicated. </FONT><FONT SIZE=2><B>Note that this Instruction is not applicable to Shareholders who deposit their Shares (including associated SRP
Rights) by book-entry transfer.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;W-9 for U.S.&nbsp;Shareholders Only  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United&nbsp;States federal income tax law generally requires a U.S.&nbsp;Shareholder who receives cash in exchange for Shares (including associated SRP
Rights) to provide the Depositary with its correct Taxpayer Identification Number ("</FONT><FONT SIZE=2><B>TIN</B></FONT><FONT SIZE=2>"), which, in the case of a Shareholder who is an individual, is
generally the individual's social security number. If the Depositary is not provided with the correct TIN or an adequate basis for an exemption, such holder may be subject to penalties imposed by the
Internal Revenue Service and backup withholding in an amount equal to 28% of the gross proceeds of any payment received hereunder. If withholding results in an overpayment of taxes, a refund may be
obtained by filing a U.S.&nbsp;tax return and complying with all other necessary requirements. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
prevent backup withholding, each U.S.&nbsp;Shareholder must provide its correct TIN by completing the Form&nbsp;W-9 set forth in this document, which requires the Shareholder to
certify under penalties of perjury, (1)&nbsp;that the TIN provided is correct (or&nbsp;that such Shareholder is awaiting a TIN), (2)&nbsp;that (i)&nbsp;the Shareholder is exempt from backup
withholding; (ii)&nbsp;the Shareholder has not been notified by the Internal Revenue Service that he is subject to backup withholding as a result of a failure to report all interest or dividends; or
(iii)&nbsp;the Internal Revenue Service has notified the Shareholder that he is no longer subject to backup withholding; (3)&nbsp;that the Shareholder is a U.S.&nbsp;person for
U.S.&nbsp;federal income tax purposes (including a U.S.&nbsp;resident alien); and (4)&nbsp;that the FATCA code(s) entered on the form (if&nbsp;any) indicating exemption from FATCA reporting
is&nbsp;correct. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exempt
holders (including, among others, all corporations) are not subject to backup withholding and reporting requirements. To prevent possible erroneous backup withholding, an exempt
holder must enter its correct TIN on Form&nbsp;W-9, enter the appropriate exempt payee code, and sign and date the form. See the instructions on Form&nbsp;W-9
(the&nbsp;"</FONT><FONT SIZE=2><B>W-9&nbsp;Instructions</B></FONT><FONT SIZE=2>") for additional instructions. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Shares (including associated SRP Rights) are held in more than one name or are not in the name of the actual owner, consult the enclosed W-9&nbsp;Instructions for information on
which TIN to&nbsp;report. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>12</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dg40304_1_13"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a U.S.&nbsp;Shareholder does not have a TIN, such holder should: (i)&nbsp;consult the enclosed W-9&nbsp;Instructions for instructions on applying for a TIN, (ii)&nbsp;write
"Applied For" in the space for the TIN in the Form&nbsp;W-9; and&nbsp;(iii)&nbsp;sign and date the Form&nbsp;W-9. In such case, the Depositary may withhold 28% of the gross proceeds of any
payment made to such holder prior to the time a properly certified TIN is provided to the Depositary, and if the Depositary is not provided with a TIN within sixty (60)&nbsp;days, such amounts will
be paid over to the Internal Revenue Service. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a Shareholder has a U.S.&nbsp;address, but is not a U.S.&nbsp;Shareholder, such holder is required to submit an appropriate and properly completed IRS Form&nbsp;W-8 Certificate
of Foreign Status, signed under penalties of perjury. Such appropriate IRS Form&nbsp;W-8 may be obtained from the Depositary or from the IRS website at&nbsp;www.irs.gov. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>A U.S.&nbsp;SHAREHOLDER WHO FAILS TO PROPERLY COMPLETE THE FORM W-9&nbsp;SET FORTH IN THIS LETTER OF TRANSMITTAL OR A NON-U.S.&nbsp;SHAREHOLDER WHO HAS A
U.S.&nbsp;ADDRESS AND FAILS TO PROPERLY COMPLETE THE APPROPRIATE IRS FORM W-8&nbsp;MAY BE SUBJECT TO BACKUP WITHHOLDING OF&nbsp;28% OF THE GROSS PROCEEDS OF ANY PAYMENTS MADE TO SUCH HOLDER
PURSUANT TO THE OFFER. BACKUP WITHHOLDING IS NOT AN ADDITIONAL TAX. RATHER, THE TAX LIABILITY OF PERSONS SUBJECT TO BACKUP WITHHOLDING WILL BE REDUCED BY THE AMOUNT OF TAX WITHHELD. IF WITHHOLDING
RESULTS IN AN OVERPAYMENT OF TAXES, A REFUND MAY BE OBTAINED BY FILING A TAX RETURN WITH THE IRS AND COMPLYING WITH ALL OTHER NECESSARY REQUIREMENTS. THE DEPOSITARY CANNOT REFUND AMOUNTS WITHHELD BY
REASON OF BACKUP WITHHOLDING.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>TO ENSURE COMPLIANCE WITH U.S.&nbsp;TREASURY DEPARTMENT CIRCULAR 230, HOLDERS ARE HEREBY NOTIFIED THAT: (A)&nbsp;ANY DISCUSSION OF U.S.&nbsp;FEDERAL TAX
ISSUES IN THIS DOCUMENT IS NOT INTENDED OR WRITTEN BY DENISON TO BE USED, AND CANNOT BE USED, BY ANY TAXPAYER FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON THE TAXPAYER UNDER THE
U.S.&nbsp;INTERNAL REVENUE CODE; (B)&nbsp;THESE DISCUSSIONS WERE WRITTEN IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE OFFER; AND (C)&nbsp;EACH TAXPAYER SHOULD SEEK ADVICE FROM AN
INDEPENDENT TAX ADVISOR BASED ON ITS PARTICULAR CIRCUMSTANCES.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous  </B></FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>If
the space in Box&nbsp;1 and Box&nbsp;2 of this Letter of Transmittal is insufficient to list all certificates/DRS Advice representing Shares and SRP
Rights, as applicable, additional certificate/DRS Advice Statement numbers and number of Shares and SRP Rights may be included on a separate signed list affixed to this Letter of&nbsp;Transmittal.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>If
Deposited Shares are registered in different forms (e.g.&nbsp;"John Doe" and "J. Doe"), a separate Letter of Transmittal should be properly completed
and executed for each different registration.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Subject
to paragraph&nbsp;(f) below, no alternative, conditional or contingent deposits will be accepted. All depositing Shareholders, by execution of
this Letter of Transmittal, or a manually executed facsimile hereof, waive any right to receive any notice of the acceptance of Deposited Shares for payment, except as required by
applicable&nbsp;Laws.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>The
Offer and all contracts resulting from acceptance thereof shall be governed by and construed in accordance with the laws of the Province of British
Columbia and the federal laws of Canada applicable therein. Each party to any agreement resulting from the acceptance of the Offer unconditionally and irrevocably attorns to the exclusive jurisdiction
of the courts of the Province of British Columbia and all courts competent to hear appeals therefrom.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Before
completing this Letter of Transmittal, you are urged to read the accompanying Offer and&nbsp;Circular.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(f)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>All
questions as to the validity, form, eligibility (including, without limitation, timely receipt) and acceptance of any Shares (including associated SRP
Rights) deposited under the Offer will be determined by Denison in its sole discretion. Depositing Shareholders agree that such determination </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>13</FONT></P>

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<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=13,EFW="2216722",CP="DENISON MINES CORPORATION",DN="2",CHK=675047,FOLIO='13',FILE='DISK105:[13ZCO4.13ZCO40304]DG40304A.;5',USER='MPAPADI',CD='19-SEP-2013;03:54' -->
<A NAME="page_dg40304_1_14"> </A>
<UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>will
be final and binding. Denison reserves the absolute right to reject any and all deposits that it determines not to be in proper form or that may be unlawful to accept under the laws of any
jurisdiction. Denison reserves the absolute right to waive any defects or irregularities in the deposit of any Shares (including associated SRP Rights) or any notice of withdrawal. There shall be no
duty or obligation of Denison, the Depositary, the Information Agent or any other person to give notice of any defect or irregularity in any deposit of any Shares (including associated SRP Rights) and
any notice of withdrawal and no liability shall be incurred or suffered by any of them for failure to give any such notice. Denison's interpretation of the terms and conditions of the Offer and
Circular, this Letter of Transmittal, the Notice of Guaranteed Delivery and any other related documents will be final and binding. Denison reserves the right to permit the Offer to be accepted in a
manner other than that set out in the Offer and&nbsp;Circular.  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(g)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Additional
copies of the Offer and Circular, this Letter of Transmittal and the Notice of Guaranteed Delivery may be obtained without charge on request from
the Depositary or the Information Agent at their respective addresses specified in this Letter of&nbsp;Transmittal. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lost Certificates/DRS Advice  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a certificate/DRS Advice representing Shares (including associated SRP Rights) has been lost or destroyed, this Letter of Transmittal should be completed as
fully as possible and forwarded, together with a letter describing the loss, to the Depositary at its office specified in this Letter of Transmittal. The Depositary will forward such letter to the
registrar and transfer agent for the Shares so that the registrar and transfer agent may provide replacement instructions. If a certificate/DRS Advice representing Shares (including associated SRP
Rights) has been lost, destroyed, mutilated or mislaid, the foregoing action must be taken sufficiently in advance of the Expiry Time in order to obtain a replacement certificate/DRS Advice in
sufficient time to permit the Shares (including associated SRP Rights) represented by the replacement certificate/DRS Advice to be deposited under the Offer at or prior to the Expiry&nbsp;Time. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>10.&nbsp;&nbsp;&nbsp;Assistance  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>Questions or requests for assistance in accepting the Offer, completing this Letter of Transmittal and depositing the Shares (including
associated SRP Rights) with the Depositary may be directed to the Depositary or the Information Agent. Their contact details are provided at the end of this&nbsp;document.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>SHAREHOLDERS SHOULD CONTACT THE DEPOSITARY THEIR BROKER OR OTHER FINANCIAL ADVISOR FOR ASSISTANCE IN ACCEPTING THE OFFER COMPLETING THIS LETTER OF TRANSMITTAL AND
DEPOSITING SHARES (INCLUDING ASSOCIATED SRP RIGHTS) WITH THE&nbsp;DEPOSITARY.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>THIS LETTER OF TRANSMITTAL OR A MANUALLY EXECUTED FACSIMILE HEREOF (TOGETHER WITH CERTIFICATES/DRS ADVICE REPRESENTING THE SHARES (INCLUDING ASSOCIATED SRP
RIGHTS) AND ALL OTHER REQUIRED DOCUMENTS) OR THE NOTICE OF GUARANTEED DELIVERY OR A MANUALLY EXECUTED FACSIMILE THEREOF MUST BE RECEIVED BY THE DEPOSITARY AT OR PRIOR TO THE
EXPIRY&nbsp;TIME.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dg40304_privacy_notice"> </A>
<A NAME="toc_dg40304_2"> </A>
<BR></FONT><FONT SIZE=2><B>  PRIVACY NOTICE    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Computershare is committed to protecting your personal information. In the course of providing services to you and our corporate
clients, we receive non-public personal information about you&nbsp;&#151;&nbsp;from transactions we perform for you, forms you send us, other communications we have with you or
your representatives, etc. This information could include your name, address, social insurance number, securities holdings and other financial information. We use this to administer your account, to
better serve your and our clients' needs and for other lawful purposes relating to our services. We have prepared a </FONT><FONT SIZE=2><I>Privacy Code</I></FONT><FONT SIZE=2> to tell you more about
our information practices and how your privacy is protected. It is available at our website, www.computershare.com, or by writing us at 100&nbsp;University Avenue, 8th&nbsp;floor, Toronto,
Ontario, M5J&nbsp;2Y1. Computershare will use the information you are providing on this form in order to process your request and will treat your signature(s) on this form as your consent to
the&nbsp;above. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>14</FONT></P>

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<TD WIDTH="12pt" style="font-family:times;"></TD>
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<TD COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=4><B><BR>
 </B></FONT><FONT SIZE=1>Form&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=4><B>W-9<BR> </B></FONT><FONT SIZE=1>(Rev. August&nbsp;2013)<BR>
&nbsp;<BR>
Department&nbsp;of&nbsp;the&nbsp;Treasury<BR>
Internal Revenue Service</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=4><B>Request for Taxpayer<BR>
Identification Number and Certification</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=4><B><BR>&nbsp;</B></FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-left:12pt;text-indent:-12pt;"><FONT SIZE=4><B><BR>
 </B></FONT><FONT SIZE=4><B>&nbsp;&nbsp;<BR> </B></FONT><FONT SIZE=1><B>Give form to the<BR>
requester. Do not<BR>
send to the IRS.</B></FONT></TD>
</TR>
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<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Print or type<BR>  </B></FONT><FONT SIZE=1>See </FONT><FONT SIZE=1><B>Specific Instructions on </B></FONT><FONT SIZE=1>page 2.</FONT></P>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="72pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="65pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="55pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="55pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="122pt" style="font-family:times;"></TD>
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<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1>  </FONT><FONT SIZE=1> Name (as&nbsp;shown on your income tax return)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD COLSPAN=13 VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=13 VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Business name/disregarded entity name, if different from above</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD COLSPAN=13 VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Check appropriate box for federal tax classification:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Exemptions (see&nbsp;instructions):</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;Individual/sole proprietor</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;C Corporation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;S Corporation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;Partnership</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;Trust/estate</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=11 VALIGN="CENTER" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;Limited liability company. Enter the tax classification (C=C corporation, S=S
corporation, P=partnership) &gt;&nbsp;


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</FONT>
 </TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Exempt payee code (if&nbsp;any)


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</FONT> <FONT SIZE=1> Exemption from FATC reporting<BR>
code (if&nbsp;any)


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</FONT>
 </TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:5pt;text-indent:-5pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;Other (see&nbsp;instructions) &gt;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD COLSPAN=13 VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:5pt;text-indent:-5pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=9 VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Address (number, street, and apt. or suite no.)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD COLSPAN=7 VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:5pt;text-indent:-5pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=11 VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>City, state, and ZIP code</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><BR>
&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD COLSPAN=13 VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:5pt;text-indent:-5pt;"><FONT SIZE=1> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=11 VALIGN="BOTTOM" style="font-family:times;"><p align=left style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>List account number(s) here (optional)<BR>
&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>&nbsp;&nbsp;Part I Taxpayer Identification Number
(TIN)</B></FONT></P>

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<TD COLSPAN=3 style="font-family:times;"><p style="font-family:times;margin-top:8pt;margin-left:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1> Enter your TIN in the appropriate box. The TIN provided must match the name given on the "Name" line to avoid backup withholding. For individuals, this is
your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the Part&nbsp;I instructions on page&nbsp;3. For other entities, it is your employer identification number (EIN). If you do not have a
number, see </FONT><FONT SIZE=1><I>How to get a TIN</I></FONT><FONT SIZE=1> on page&nbsp;3.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=17 ALIGN="CENTER" style="font-family:times;"><BR>
<FONT SIZE=1><B>Social security number</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:0pt;"><FONT SIZE=1> </FONT></TD>
<TD style="font-family:times;"><FONT SIZE=4>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=4>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=4>&nbsp;</FONT></TD>
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<TD COLSPAN=3 VALIGN="TOP" style="font-family:times;"><p style="font-family:times;margin-top:9pt;margin-left:0pt;"><FONT SIZE=4> </FONT><FONT SIZE=1><B>Note. </B></FONT><FONT SIZE=1>If the account is in more than one name, see the chart on page&nbsp;4 for guidelines on whose number to
enter.</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:0pt;"><FONT SIZE=1> </FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=17 ALIGN="CENTER" style="font-family:times;"><BR>
<FONT SIZE=1><B>Employer identification number</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>&nbsp;&nbsp;Part II Certification</B></FONT></P>

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<TD COLSPAN=7 style="font-family:times;"><BR><FONT SIZE=1> Under penalties of perjury, I certify that:</FONT></TD>
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<TD style="font-family:times;"><BR><FONT SIZE=1> 1.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD COLSPAN=5 style="font-family:times;"><BR><FONT SIZE=1>The number shown on this form is my correct taxpayer identification number (or&nbsp;I am waiting for a number to be issued to me),&nbsp;and</FONT></TD>
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<TD style="font-family:times;"><BR><FONT SIZE=1> 2.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD COLSPAN=5 style="font-family:times;"><BR><FONT SIZE=1>I am not subject to backup withholding because: (a)&nbsp;I am exempt from backup withholding, or (b)&nbsp;I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a
result of a failure to report all interest or dividends, or (c)&nbsp;the IRS has notified me that I am no longer subject to backup withholding,&nbsp;and</FONT></TD>
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<TD style="font-family:times;"><BR><FONT SIZE=1> 3.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD COLSPAN=5 style="font-family:times;"><BR><FONT SIZE=1>I am a U.S.&nbsp;citizen or other U.S.&nbsp;person (defined below), and</FONT></TD>
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<TD style="font-family:times;"><BR><FONT SIZE=1> 4.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD COLSPAN=5 style="font-family:times;"><BR><FONT SIZE=1>The FATCA code(s) entered on this form (if&nbsp;any) indicating that I am exempt from FATC reporting is&nbsp;correct.</FONT></TD>
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<TD COLSPAN=7 VALIGN="TOP" style="font-family:times;"><BR><FONT SIZE=1><B> Certification instructions. </B></FONT><FONT SIZE=1>You must cross out item&nbsp;2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed
to report all interest and dividends on your tax return. For real estate transactions, item&nbsp;2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual
retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. See the instructions on page&nbsp;3.</FONT></TD>
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<TD COLSPAN=3 style="font-family:times;"><BR><FONT SIZE=1><B> Sign<BR>
Here</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=1><B>Signature of<BR>
U.S. person &gt;</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=1><B>Date &gt;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
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 <P style="font-family:times;text-align:justify"><FONT SIZE=1><B> &nbsp;<BR>  </B></FONT></P>


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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>General Instructions  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Section
references are to the Internal Revenue Code unless otherwise noted. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Future developments. </B></FONT><FONT SIZE=1>The IRS has created a page on IRS.gov for Information about Form&nbsp;W-9 at </FONT> <FONT SIZE=1><I>www.irs.gov./w9</I></FONT><FONT SIZE=1>. Information about any future developments
affecting Form&nbsp;W-9 (such as legislation enacted after we release it) will be posted on
that&nbsp;page. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Purpose of Form  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>A
person who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) to report, for example, income paid to you, payments made to you in
settlement of payment card and third party network transactions, real estate transactions, mortgage interest you paid, acquisition or abandonment of secured property, cancellation of debt, or
contributions you made to an&nbsp;IRA. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Use
Form&nbsp;W-9 only if you are a U.S.&nbsp;person (including a resident alien), to provide your correct TIN to the person requesting it (the&nbsp;requester) and, when
applicable,&nbsp;to: </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>1.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Certify
that the TIN you are giving is correct (or&nbsp;you are waiting for a number to be&nbsp;issued), </FONT></DD></DL>

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<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>2.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Certify
that you are not subject to backup withholding, or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>3.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Claim
exemption from backup withholding if you are a U.S.&nbsp;exempt payee. If applicable, you are also certifying that as a U.S.&nbsp;person, your
allocable share of any partnership income from a U.S.&nbsp;trade or business is not subject to the withholding tax on foreign partners' share of effectively connected income,&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>4.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Certify
that FATCA code(s) entered on this form (if&nbsp;any) indicating that you are exempt from the FATC reporting, is&nbsp;correct. </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Note. </B></FONT><FONT SIZE=1>If you are a U.S.&nbsp;person and a requester gives you a form other than Form&nbsp;W-9 to&nbsp;request your TIN, you must use the requester's
form if it is substantially similar to this Form&nbsp;W-9. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Definition of a U.S.&nbsp;person. </B></FONT><FONT SIZE=1>For federal tax purposes, you are considered a U.S.&nbsp;person if
you&nbsp;are:</FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>An individual who is a U.S.&nbsp;citizen or U.S.&nbsp;resident alien, </FONT> <FONT SIZE=1>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>A partnership, corporation, company, or association created or organized in the United&nbsp;States or under the laws of
the United&nbsp;States, </FONT><FONT SIZE=1>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>An estate (other than a foreign estate), or </FONT><FONT SIZE=1>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>A domestic trust (as&nbsp;defined in Regulations section&nbsp;301.7701-7). </FONT></DD></DL>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>W-9-1</FONT></P>

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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Form&nbsp;W-9 (Rev. 8-2013)</FONT></TD>
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<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Page </FONT><FONT SIZE=1><B>2</B></FONT></TD>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;<BR></FONT></P>


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<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Special rules for partnerships. </B></FONT><FONT SIZE=1>Partnerships that conduct a trade or business in the United&nbsp;States are
generally required to pay a withholding tax under section&nbsp;1446 on any foreign partners' share of effectively connected taxable income from such business. Further, in certain cases where a
Form&nbsp;W-9 has not been received, the rules under section&nbsp;1446 require a partnership to presume that a partner is a foreign person, and pay the section&nbsp;1446 withholding tax.
Therefore, if you are a U.S.&nbsp;person that is a partner in a partnership conducting a trade or business in the United&nbsp;States, provide Form&nbsp;W-9 to&nbsp;the partnership to establish
your U.S.&nbsp;status and avoid section&nbsp;1446 withholding on your share of partnership income. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=1>In
the cases below, the following person must give Form&nbsp;W-9 to the partnership for purposes of establishing its U.S.&nbsp;status and avoiding withholding on its allocable share of net income
from the partnership conducting a trade or business in the United&nbsp;States:</FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>In the case of a disregarded entity with a U.S.&nbsp;owner, the U.S.&nbsp;owner of the disregarded entity and not
the&nbsp;entity, </FONT><FONT SIZE=1>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>In the case of a grantor trust with a U.S.&nbsp;grantor or other U.S.&nbsp;owner, generally, the U.S.&nbsp;grantor or
other U.S.&nbsp;owner of the grantor trust and not the trust,&nbsp;and </FONT><FONT SIZE=1>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>In the case of a U.S.&nbsp;trust (other than a grantor trust), the U.S.&nbsp;trust (other than a grantor trust) and not
the beneficiaries of the&nbsp;trust. </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Foreign person. </B></FONT><FONT SIZE=1>If you are a foreign person or the U.S.&nbsp;branch of a foreign bank that has elected to be treated as a U.S.&nbsp;person, do not use
Form&nbsp;W-9. Instead, use the appropriate Form&nbsp;W-8 or Form&nbsp;8233 (see&nbsp;Publication 515. Withholding of Tax on Nonresidential Aliens and Foreign Entities.) </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=1>Withholding
of Tax on Nonresident Aliens and Foreign Entities). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Nonresident alien who becomes a resident alien. </B></FONT><FONT SIZE=1>Generally, only a nonresident alien individual may use the terms of a tax treaty to reduce or reduce or
eliminate U.S.&nbsp;tax on certain types of income. However, most tax treaties contain a provision known as a "saving clause." Exceptions specified in the saving clause may permit an exemption from
tax to continue for certain types of income even after the payee has otherwise become a U.S.&nbsp;resident alien for tax&nbsp;purposes. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you are a U.S.&nbsp;resident alien who is relying on an exception contained in the saving clause of a tax treaty to claim an exemption from U.S.&nbsp;tax on certain types of income, you must
attach a statement to Form&nbsp;W-9 that specifies the following five&nbsp;items: </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>1.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>The
treaty country. Generally, this must be the same treaty under which you claimed exemption from tax as a nonresident alien.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>2.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>The
treaty article addressing the income.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>3.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>The
article number (or&nbsp;location) in the tax treaty that contains the saving clause and its&nbsp;exceptions.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>4.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>The
type and amount of income that qualifies for the exemption from tax.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>5.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Sufficient
facts to justify the exemption from tax under the terms of the treaty&nbsp;article. </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B><I>Example. </I></B></FONT><FONT SIZE=1>Article&nbsp;20 of the U.S.-China income tax treaty allows an exemption from tax for scholarship income received by a Chinese student
temporarily present in the United&nbsp;States. Under U.S.&nbsp;law, this student will become a resident alien for tax purposes if his or her stay in the United&nbsp;States exceeds
5&nbsp;calendar years. However, paragraph&nbsp;2 of the first Protocol to the U.S.-China treaty (dated April&nbsp;30, 1984) allows the provisions of Article&nbsp;20 to&nbsp;continue to apply
even after the Chinese student becomes a resident alien of the United&nbsp;States. A Chinese student who qualifies for this exception (under paragraph&nbsp;2 of the first protocol) and is relying
on this exception to claim an exemption from tax on his or her scholarship or fellowship income would attach to Form&nbsp;W-9 a statement that includes the information described above to support
that&nbsp;exemption. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you are a nonresident alien or a foreign entity, give the requester the appropriate completed Form&nbsp;W-8 or&nbsp;Form&nbsp;8233. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>What is backup withholding?</B></FONT><FONT SIZE=1> Persons making certain payments to you must under certain conditions withhold and pay to the IRS a percentage of such
payments. This is called "backup withholding." Payments that may be subject to backup withholding include interest, tax-exempt interest, dividends, broker and barter exchange transactions, rents,
royalties, nonemployee pay, and certain payments from fishing boat operators. Real estate transactions are not subject to backup withholding. </FONT></P>

</DIV>

<DIV style='position:relative;float:right;margin:left=3%;width:47%'>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>You
will not be subject to backup withholding on payments you receive if you give the requester your correct TIN, make the proper certifications, and report all your taxable interest and dividends on
your tax&nbsp;return. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Payments you receive will be subject to backup withholding if:  </B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>1.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>You
do not furnish your TIN to the requester,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>2.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>You
do not certify your TIN when required (see&nbsp;the Part&nbsp;II instructions on page&nbsp;3 for&nbsp;details),
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>3.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>The
IRS tells the requester that you furnished an incorrect TIN,
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>4.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>The
IRS tells you that you are subject to backup withholding because you did not report all your interest and dividends on your tax return
(for&nbsp;reportable interest and dividends only),&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>5.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>You
do not certify to the requester that you are not subject to backup withholding under 4&nbsp;above (for&nbsp;reportable interest and dividend accounts
opened after 1983&nbsp;only). </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Certain
payees and payments are exempt from backup withholding. See </FONT><FONT SIZE=1><I>Exempt payee code</I></FONT><FONT SIZE=1> on page&nbsp;3 and&nbsp;the separate Instructions for the
Requester of Form&nbsp;W-9 for more information. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Also
see </FONT><FONT SIZE=1><I>Special rules for partnerships</I></FONT><FONT SIZE=1> on page&nbsp;1. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>What is FATCA reporting? </B></FONT><FONT SIZE=1>The Foreign Account Tax Compliance Act (FATCA) requires a participating foreign institution to report all United&nbsp;States
account Holders that are specified United&nbsp;States persons. Certain payees are exempt from FATCA reporting. See </FONT><FONT SIZE=1><I>Exemption from the FATCH reporting
code</I></FONT><FONT SIZE=1> on page&nbsp;3 and&nbsp;the instructions for the Requestor of Form&nbsp;W-9 for more information. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Updating Your Information  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>You
must provide updated information to any person to whom you claimed to be an exempt payee if you are no longer an exempt payee and anticipate receiving reportable payments in the future from this
person. For example, you may need to provide updated information if you are a C corporation that elects to be an S corporation, or if you no longer are tax exempt. In addition, you must furnish a new
Form&nbsp;W-9 if the name or TIN changes for the account, for example, if the grantor of a grantor trust&nbsp;dies. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Penalties  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Failure to furnish TIN. </B></FONT><FONT SIZE=1>If you fail to furnish your correct TIN to a requester, you are subject to a penalty of $50 for each such failure unless your
failure is due to reasonable cause and not to willful neglect. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Civil penalty for false information with respect to withholding. </B></FONT><FONT SIZE=1>If you make a false statement with no reasonable basis that results in no backup
withholding, you are subject to a $500&nbsp;penalty. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Criminal penalty for falsifying information. </B></FONT><FONT SIZE=1>Willfully falsifying certifications or affirmations may subject you to criminal penalties including fines
and/or imprisonment. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Misuse of TINs. </B></FONT><FONT SIZE=1>If the requester discloses or uses TINs in violation of federal law, the requester may be subject to civil and criminal penalties. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Specific Instructions  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Name  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you are an individual, you must generally enter the name shown on your income tax return. However, if you have changed your last name, for instance, due to marriage without informing the Social
Security Administration of the name change, enter your first name, the last name shown on your social security card, and your new last&nbsp;name. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
the account is in joint names, list first, and then circle, the name of the person or entity whose number you entered in Part&nbsp;I of the&nbsp;form. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Sole proprietor. </B></FONT><FONT SIZE=1>Enter your individual name as shown on your income tax return on the "Name" line. You may enter your business, trade, or "doing business
as (DBA)" name on the "Business name/disregarded entity name"&nbsp;line. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Partnership, C&nbsp;Corporation, or S&nbsp;Corporation. </B></FONT><FONT SIZE=1>Enter the entity's name on the "Name" line and any business, trade, or "doing business as
(DBA) name" on the "Business name/disregarded entity name"&nbsp;line. </FONT></P>


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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>W-9-2</FONT></P>

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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Form&nbsp;W-9 (Rev. 8-2013)</FONT></TD>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;<BR></FONT></P>


<DIV style='position:relative;float:left;margin:right=3%;width:47%'>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Disregarded entity. </B></FONT><FONT SIZE=1>For U.S.&nbsp;federal tax purposes, an entity that is disregards as an entity separate from
its owner is treaded as a "disregarded entity." See Regulation section&nbsp;301.7701-2(c)(2)(iii). Enter the owner's name on the "Name" line. The name of the entity entered on the "Name" line should
never be a disregarded entity. The name on the "Name" line must be the name shown on the income tax return on which the income will be reported. For example, if a foreign&nbsp;LLC that is treated as
a disregarded entity for U.S.&nbsp;federal tax purposes has a owner that is a U.S.&nbsp;person, the U.S.&nbsp;owner's name is required to be provided on the "Name" line. If the direct owner of
the entity is also a disregarded entity, enter the first owner that is not disregarded for federal tax purposes. Enter the disregarded entity's name on the "Business name/disregarded entity name"
line. If the owner of the disregarded entity is a foreign person, the owner must complete an appropriate Form&nbsp;W-8 instead of a form&nbsp;W-9. This is the case even if the foreign person has a
U.S.&nbsp;TIN. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Note. </B></FONT><FONT SIZE=1>Check the appropriate box for the U.S.&nbsp;federal tax classification of the person whose name is entered on the "Name" line (Individual/sole
proprietor, Partnership, C Corporation, S Corporation, Trust/estate). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Limited Liability Company (LLC). </B></FONT><FONT SIZE=1>If the person identified on the "Name" line is an&nbsp;LLC, check the "Limited liability company" box only and enter
the appropriate code for the U.S.&nbsp;federal tax classification in the space provided. If you are an&nbsp;LLC that is treated as a partnership for U.S.&nbsp;federal tax purposes, enter "P" for
partnership. If you are an&nbsp;LLC that has filed a Form&nbsp;8832 or&nbsp;a Form&nbsp;2553 to be taxed as a corporation, enter "C" for C&nbsp;corporation or "S" for S&nbsp;corporation,
as appropriate. If you are an&nbsp;LLC that is disregarded as an entity separate from its owner under Regulation section&nbsp;301.7701-3 (except for employment and excise tax), do not check
the&nbsp;LLC box unless the owner of the&nbsp;LLC (required to be identified on the "Name" line) is another LLC that is not disregarded for U.S.&nbsp;federal tax purposes. If the LLC is
disregarded as an entity separate from its owner, enter the appropriate tax classification of the owner identified on the "Name"&nbsp;line. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Other entities. </B></FONT><FONT SIZE=1>Enter your business name as shown on required U.S.&nbsp;federal tax documents on the "Name" line. This name should match the name shown
on the charter or other legal document creating the entity. You may enter any business, trade, or DBA name on the "Business name/ disregarded entity name"&nbsp;line. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Exemptions  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you are exempt from backup withholding, enter into the </FONT><FONT SIZE=1><I>Exemptions Box</I></FONT><FONT SIZE=1>, any code(s) that may apply to you. See </FONT><FONT SIZE=1><I>Exempt
payee</I></FONT><FONT SIZE=1> code and </FONT><FONT SIZE=1><I>Exemption from FATCA reporting code</I></FONT><FONT SIZE=1> on page&nbsp;3. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Exempt payee code. </B></FONT><FONT SIZE=1>Generally, individuals (including sole proprietors) are not exempt from backup withholding. Corporations are exempt from backup
withholding for certain payments, such as interest and dividends. Corporations are not exempt from backup withholding for payments made in settlement of payment card or third party network
transactions. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Note. </B></FONT><FONT SIZE=1>If you are exempt from backup withholding, you should still complete this form to avoid possible erroneous backup withholding. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>The
following payees are exempt from backup withholding: </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>1&nbsp;&#151;&nbsp;An
organization exempt from tax under section&nbsp;501(a), any IRA, or&nbsp;a custodial account under section&nbsp;403(b)(7) if the account satisfies
the requirements of section&nbsp;401(f)(2), </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=1>2&nbsp;&#151;&nbsp;The
United&nbsp;States or any of its agencies or instrumentalities </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>3&nbsp;&#151;&nbsp;A
state, the District of Columbia, a possession of the United&nbsp;States, or any of their political subdivisions or instrumentalities </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>4&nbsp;&#151;&nbsp;A
foreign government or any of its political subdivisions, agencies, or instrumentalities </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>5&nbsp;&#151;&nbsp;A
corporation </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>6&nbsp;&#151;&nbsp;A
dealer in securities or commodities required to register in the United&nbsp;States, the District of Columbia, or a possession of the United&nbsp;States </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>7&nbsp;&#151;&nbsp;A
futures commission merchant registered with the Commodity Futures Trading Commission </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>8&nbsp;&#151;&nbsp;A
real estate investment trust </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>9&nbsp;&#151;&nbsp;An
entity registered at all times during the tax year under the Investment Company Act of&nbsp;1940 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>10&nbsp;&#151;&nbsp;A
common trust fund operated by a bank under section&nbsp;584(a) </FONT></P>

</DIV>

<DIV style='position:relative;float:right;margin:left=3%;width:47%'>


<P style="font-family:times;text-align:justify"><FONT SIZE=1>11&nbsp;&#151;&nbsp;A
financial institution </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>12&nbsp;&#151;&nbsp;A
middleman known in the investment community as a nominee or custodian </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>13&nbsp;&#151;&nbsp;A
trust exempt from tax under section&nbsp;664 or&nbsp;described in section&nbsp;4947 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>The
following chart shows types of payments that may be exempt from backup withholding. The chart applies to the exempt payees listed above, 1&nbsp;through&nbsp;13. </FONT></P>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><B>IF the payment is for .&nbsp;.&nbsp;.</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><B>THEN the payment is exempt for .&nbsp;.&nbsp;.</B></FONT></TD>
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<TD COLSPAN=3 style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1><B> </B></FONT><FONT SIZE=1>Interest and dividend payments</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>All exempt payees except for&nbsp;7</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Broker transactions</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Exempt payees 1 through 4 and 6 through 11 and all C&nbsp;corporations. S&nbsp;corporations must not enter an exempt payee code
because they are exempt only for sales of noncovered securities acquired prior to 2012.</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Barter exchange transactions and patronage dividends</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Exempt payees 1 through 4</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Payments over $600 required to be reported and direct sales over $5,000<SUP>1</SUP></FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Generally, exempt payees 1 through 5<SUP>2</SUP></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Payments made in settlement of payment card or third party network transactions</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Exempt payees 1 through 4</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
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<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>1</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>See
Form&nbsp;1099-MISC, Miscellaneous Income, and&nbsp;its instructions.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>2</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>However,
the following payments made to a corporation and reportable on Form&nbsp;1099-MISC are not exempt from backup withholding: medical and health care
payments, attorneys' fees, gross proceeds paid to an attorney, and payments for services paid by a federal executive agency. </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Exemptions from FATCA reporting code. </B></FONT><FONT SIZE=1>The following codes identify payees that are exempt from reporting under
FATCA. These codes apply to persons submitting this form for accounts maintained outside of the United&nbsp;States by certain foreign financial institutions. Therefore, if you are only submitting
this form for an account you hold in the United&nbsp;States, you may leave this field blank. Consult with the person requesting this form if you are uncertain if the financial institution is subject
to these requirements. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>A&nbsp;&#151;&nbsp;An
organization exempt from tax under section&nbsp;501(a), or any individual retirement plan as defined in section&nbsp;7701(a)(37) </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>B&nbsp;&#151;&nbsp;The
United&nbsp;States or any of its agencies or instrumentalities </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>C&nbsp;&#151;&nbsp;A
state, the District of Columbia, a possession of the United&nbsp;States, or any of their political subdivisions or instrumentalities </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>D&nbsp;&#151;&nbsp;A
corporation the stock of which is regularly traded on one or more established securities markets, as described in Reg. section&nbsp;1.1472-1(c)(1)(i) </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>E&nbsp;&#151;&nbsp;A
corporation that is a member of the same expanded affiliated group as a corporation described in Reg. section&nbsp;1.1472-1(c)(1)(i) </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=1>F&nbsp;&#151;&nbsp;A
dealer in securities, commodities or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is
registered as such for the laws of the United&nbsp;States or any&nbsp;state </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>G&nbsp;&#151;&nbsp;A
real estate invest trust </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>H&nbsp;&#151;&nbsp;A
regulated investment company as defined in section&nbsp;851 or&nbsp;an entity registered at all times during the tax year under the Investment Company
Act of&nbsp;1940 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>I&nbsp;&#151;&nbsp;A
common trust fund as defined under section&nbsp;584(a) </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=1>J&nbsp;&#151;&nbsp;A
bank as defined in section&nbsp;581 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>K&nbsp;&#151;&nbsp;A
broker </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>L&nbsp;&#151;&nbsp;A
trust exempt from tax under section&nbsp;664 or&nbsp;described in section&nbsp;4947(a)(1) </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>M&nbsp;&#151;&nbsp;A
tax exempt trust under a section&nbsp;403(b) plan or section&nbsp;457(g) plan </FONT></P>

</DIV>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>W-9-3</FONT></P>

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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Form&nbsp;W-9 (Rev. 8-2013)</FONT></TD>
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<DIV style='position:relative;float:left;margin:right=3%;width:47%'>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Part&nbsp;I. Taxpayer Identification Number (TIN)  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Enter your TIN in the appropriate box. </B></FONT><FONT SIZE=1>If you are a resident alien and you do not have and are not eligible to get an SSN, your TIN is your IRS individual
taxpayer identification number (ITIN). Enter it in the social security number box. If you do not have an ITIN, see </FONT><FONT SIZE=1><I>How to get a TIN</I></FONT><FONT SIZE=1>&nbsp;below. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you are a sole proprietor and you have an EIN, you may enter either your SSN or EIN. However, the IRS prefers that you use your&nbsp;SSN. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you are a single-member&nbsp;LLC that is disregarded as an entity separate from its owner (see&nbsp;</FONT><FONT SIZE=1><I>Limited Liability Company (LLC)</I></FONT><FONT SIZE=1> on
page&nbsp;2), enter the owner's SSN (or&nbsp;EIN, if the owner has one). Do not enter the disregarded entity's EIN. If the&nbsp;LLC is classified as a corporation or partnership, enter the
entity's&nbsp;EIN. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Note. </B></FONT><FONT SIZE=1>See the chart on page&nbsp;4 for further clarification of name and TIN combinations. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>How to get a TIN. </B></FONT><FONT SIZE=1>If you do not have a TIN, apply for one immediately. To apply for an SSN, get Form&nbsp;SS-5, Application for a Social Security Card,
from your local Social Security Administration office or get this form online at </FONT><FONT SIZE=1><I>www.ssa.gov</I></FONT><FONT SIZE=1>. You may also get this form by calling 1-800-772-1213. Use
Form&nbsp;W-7, Application for IRS Individual Taxpayer Identification Number, to apply for an ITIN, or Form&nbsp;SS-4, Application for Employer Identification Number, to apply for an EIN. You can
apply for an EIN online by accessing the IRS website at </FONT><FONT SIZE=1><I>www.irs.gov/businesses</I></FONT><FONT SIZE=1> and clicking on Employer Identification Number (EIN) under Starting a
Business. You can get Forms&nbsp;W-7 and&nbsp;SS-4 from the IRS by visiting IRS.gov or by calling 1-800-TAX-FORM (1-800-829-3676). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you are asked to complete Form&nbsp;W-9 but do not have a TIN, apply for a TIN and write "Applied For" in the space for the TIN, sign and date the form, and give it to the requester. For interest
and dividend payments, and certain payments made with respect to readily tradable instruments, generally you will have 60&nbsp;days to get a TIN and give it to the requester before you are subject
to backup withholding on payments. The 60-day rule does not apply to other types of payments. You will be subject to backup withholding on all such payments until you provide your TIN to
the&nbsp;requester. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Note. </B></FONT><FONT SIZE=1>Entering "Applied For" means that you have already applied for a TIN or that you intend to apply for one&nbsp;soon. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Caution: </B></FONT><FONT SIZE=1><I>A disregarded U.S.&nbsp;entity that has a foreign owner must use the appropriate Form&nbsp;W-8.</I></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Part&nbsp;II. Certification  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>To
establish to the withholding agent that you are a U.S.&nbsp;person, or resident alien, sign Form&nbsp;W-9. You may be requested to sign by the withholding agent even if items&nbsp;1, 4
or&nbsp;5 below indicate otherwise. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>For
a joint account, only the person whose TIN is shown in Part&nbsp;I should sign (when required). In the case of a disregarded entity, the person identified on the "Name" line must sign. Exempt
payees, see </FONT><FONT SIZE=1><I>Exempt Payee code&nbsp;</I></FONT><FONT SIZE=1>earlier. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Signature requirements. </B></FONT><FONT SIZE=1>Complete the certification as indicated in items&nbsp;1 through&nbsp;5&nbsp;below.  </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1><B>1.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1><B>Interest, dividend, and barter exchange accounts opened before 1984 and broker accounts considered active during
1983.</B></FONT><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;You must give your correct TIN, but you do not have to sign the certification.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1><B>2.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1><B>Interest, dividend, broker, and barter exchange accounts opened after 1983 and broker accounts considered inactive during
1983.</B></FONT><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;You must sign the certification or backup withholding will apply. If you are subject to backup withholding and you are merely providing your correct TIN to
the requester, you must cross out item&nbsp;2 in the certification before signing the&nbsp;form.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1><B>3.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1><B>Real estate transactions.</B></FONT><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;You must sign the certification. You may cross out item&nbsp;2 of the
certification.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1><B>4.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1><B>Other payments.</B></FONT><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;You must give your correct TIN, but you do not have to sign the certification
unless you have been notified that you have previously given an incorrect TIN. "Other payments" include payments made in the course of the requester's trade or business for rents, royalties, goods
(other than bills for merchandise), medical and health care services (including payments to corporations), payments to a nonemployee for services, payments made in settlement of payment card and third
party network transactions, payments to certain fishing boat crew members and fishermen, and gross proceeds paid to attorneys (including payments to corporations). </FONT></DD></DL>

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<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1><B>5.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1><B>Mortgage interest paid by you, acquisition or abandonment of secured property, cancellation of debt, qualified tuition program
payments (under section&nbsp;529), IRA, Coverdell ESA, Archer MSA or HSA contributions or distributions, and pension distributions.</B></FONT><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;You must give your correct
TIN, but you do not have to sign the certification. </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> What Name and Number To Give the Requester  </B></FONT></P>
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<TD COLSPAN=7 ALIGN="RIGHT" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
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<TD COLSPAN=5 style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><B>For this type of account:</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><B>Give name and SSN of:</B></FONT></TD>
</TR>
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<TD COLSPAN=7 ALIGN="RIGHT" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
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<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1><B> </B></FONT><FONT SIZE=1>1.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Individual</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The individual</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>2.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Two or more individuals (joint account)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The actual owner of the account or, if combined funds, the first individual on the account<SUP>1</SUP></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>3.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Custodian account of a minor (Uniform Gift to Minors Act)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The minor<SUP>2</SUP></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>4.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>a.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The usual revocable savings trust (grantor is also trustee)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The grantor-trustee<SUP>1</SUP></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>b.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>So-called trust account that is not a legal or valid trust under state law</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The actual owner<SUP>1</SUP></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>5.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Sole proprietorship or disregarded entity owned by an individual</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The owner<SUP>3</SUP></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>6.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Grantor trust filing under Optional Form&nbsp;1099 Filing Method 1 (see&nbsp;Regulation section&nbsp;1.671-4(b)(2)(i)(A))
</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The grantor*</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="RIGHT" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:times;"><p style="font-family:times;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1><B>For this type of account:</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><B>Give name and EIN of:</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="RIGHT" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1><B> </B></FONT><FONT SIZE=1>7.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Disregarded entity not owned by an individual</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The owner</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>8.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>A valid trust, estate, or pension trust</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Legal entity<SUP>4</SUP></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>9.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Corporation or&nbsp;LLC electing corporate status on Form&nbsp;8832 or Form&nbsp;2553</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The corporation</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>10.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Association, club, religious, charitable, educational, or other tax-exempt organization</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The organization</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>11.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Partnership or multi-member&nbsp;LLC</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The partnership</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>12.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>A broker or registered nominee</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The broker or nominee</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>13.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Account with the Department of Agriculture in the name of a public entity (such as a state or local government, school district, or
prison) that receives agricultural program payments</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The public entity</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="RIGHT" style="font-family:times;"><p style="font-family:times;margin-top:10pt;margin-left:8pt;text-indent:-8pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>14.</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Grantor trust filing under the Form 1041&nbsp;Filing Method or the Optional Form&nbsp;1099 Filing Method 2 (see Regulation
section&nbsp;1.671-4(b)(2)(i)(B))</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><p align=left style="font-family:times;margin-top:10pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>The trust</FONT></TD>
</TR>
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<TD COLSPAN=7 ALIGN="RIGHT" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
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<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>1</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>List
first and circle the name of the person whose number you furnish. If only one person on a joint account has an SSN, that person's number must
be&nbsp;furnished.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>2</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Circle
the minor's name and furnish the minor's SSN.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>3</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>You
must show your individual name and you may also enter your business or "DBA" name on the "Business name/disregarded entity" name line. You may use either
your SSN or EIN (if&nbsp;you have one), but the IRS encourages you to use your&nbsp;SSN. </FONT></DD></DL>

</DIV>

<DIV
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>W-9-4</FONT></P>

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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:6pt;text-indent:-6pt;"><FONT SIZE=1> </FONT><FONT SIZE=1>Form&nbsp;W-9 (Rev. 8-2013)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>Page </FONT><FONT SIZE=1><B>5</B></FONT></TD>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;<BR></FONT></P>


<DIV style='position:relative;float:left;margin:right=3%;width:47%'>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>4</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>List
first and circle the name of the trust, estate, or pension trust. (Do&nbsp;not furnish the TIN of the personal representative or trustee unless the
legal entity itself is not designated in the account title.) Also see </FONT><FONT SIZE=1><I>Special rules for partnerships</I></FONT><FONT SIZE=1> on page&nbsp;1. </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>*Note. </B></FONT><FONT SIZE=1>Grantor also must provide a Form&nbsp;W-9 to&nbsp;trustee of trust. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Note. </B></FONT><FONT SIZE=1>If no name is circled when more than one name is listed, the number will be considered to be that of the first name&nbsp;listed. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Secure Your Tax Records from Identity Theft  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Identity
theft occurs when someone uses your personal information such as your name, social security number (SSN), or other identifying information, without your permission, to commit fraud or other
crimes. An identity thief may use your SSN to get a job or may file&nbsp;a tax return using your SSN to receive a&nbsp;refund. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>To
reduce your risk:</FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Protect your SSN, </FONT><FONT SIZE=1>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Ensure your employer is protecting your SSN, and </FONT><FONT SIZE=1>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Be careful when choosing a tax preparer. </FONT></DD></DL>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
your tax records are affected by identity theft and you receive a notice from the IRS, respond right away to the name and phone number printed on the IRS notice or&nbsp;letter. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
your tax records are not currently affected by identity theft but you think you are at risk due to a lost or stolen purse or wallet, questionable credit card activity or credit report, contact the
IRS Identity Theft Hotline at 1-800-908-4490 or submit Form&nbsp;14039. </FONT></P>

</DIV>

<DIV style='position:relative;float:right;margin:left=3%;width:47%'>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>For
more information, see Publication 4535, Identity Theft Prevention and Victim Assistance. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Victims
of identity theft who are experiencing economic harm or a system problem, or are seeking help in resolving tax problems that have not been resolved through normal channels, may be eligible for
Taxpayer Advocate Service (TAS) assistance. You can reach TAS by calling the TAS toll-free case intake line at 1-877-777-4778 or TTY/TDD 1-800-829-4059. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=1><B>Protect yourself from suspicious emails or phishing schemes. </B></FONT><FONT SIZE=1>Phishing is the creation and use of email and websites designed to mimic legitimate business
emails and websites. The most common act is sending an email to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information
that will be used for identity&nbsp;theft. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>The
IRS does not initiate contacts with taxpayers via emails. Also, the IRS does not request personal detailed information through email or ask taxpayers for the PIN numbers, passwords, or similar
secret access information for their credit card, bank, or other financial accounts. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>If
you receive an unsolicited email claiming to be from the IRS, forward this message to </FONT><FONT SIZE=1><I>phishing@irs.gov</I></FONT><FONT SIZE=1>. You may also report misuse of the IRS name,
logo, or other IRS property to the Treasury Inspector General for Tax Administration at 1-800-366-4484. You can forward suspicious emails to the Federal Trade Commission at: </FONT> <FONT SIZE=1><I>spam@uce.gov</I></FONT><FONT SIZE=1> or contact them
at </FONT><FONT SIZE=1><I>www.ftc.gov/idtheft</I></FONT><FONT SIZE=1> or 1-877-IDTHEFT (1-877-438-4338). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Visit
IRS.gov to learn more about identity theft and how to reduce your risk. </FONT></P>

</DIV>


<DIV style='position:relative;float:left;margin:right=0%;width:100%;'></DIV>

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<P style="font-family:times;text-align:justify"><FONT SIZE=1>&nbsp;<BR></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Privacy Act Notice  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=1>Section&nbsp;6109
of the Internal Revenue Code requires you to provide your correct TIN to persons (including federal agencies) who are required to file information returns with the IRS to report
interest, dividends, or certain other income paid to you; mortgage interest you paid; the acquisition or abandonment of secured property; the cancellation of debt; or contributions you made to an IRA,
Archer MSA, or HSA. The person collecting this form uses the information on the form to file information returns with the IRS, reporting the above information. Routine uses of this information include
giving it to the Department of Justice for civil and criminal litigation and to cities, states, the District of Columbia, and U.S.&nbsp;commonwealth and possessions for use in administering their
laws. The information also may be disclosed to other countries under a treaty, to federal and state agencies to enforce civil and criminal laws, or to federal law enforcement and intelligence agencies
to combat terrorism. You must provide your TIN whether or not you are required to file&nbsp;a tax return. Under section&nbsp;3406, payers must generally withhold a percentage of taxable interest,
dividend, and certain other payments to a payee who does not give a TIN to the payer. Certain penalties may also apply for providing false or fraudulent information. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>W-9-5</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>The Depositary for the Offer is:<BR>
Computershare Investor Services&nbsp;Inc.  </B></FONT></P>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>By Mail</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=3>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B> By Registered Mail, by Hand or by Courier</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:12pt;text-indent:-12pt;"><FONT SIZE=3> </FONT><FONT SIZE=3>Computershare Investor Services&nbsp;Inc.<BR>
PO Box&nbsp;7021<BR>
31&nbsp;Adelaide Street E.<BR>
Toronto ON<BR>
M5C&nbsp;3H2<BR>
Attention: Corporate Actions</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=3>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3>Computershare Investor Services&nbsp;Inc.<BR>
100&nbsp;University Ave., 8<SUP>th</SUP>&nbsp;Floor<BR>
Toronto ON<BR>
M5J&nbsp;2Y1<BR>
Attention: Corporate Actions</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>Toll Free: 1-800-564-6253<BR>
E-mail: corporateactions@computershare.com  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>The Information Agent for the Offer is:</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3>Laurel
Hill Advisory Group </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>North American Toll Free Phone:  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>1-877-452-7184</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B> E-mail:&nbsp;&nbsp;&nbsp;&nbsp;assistance@laurelhill.com  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B> Facsimile:&nbsp;&nbsp;&nbsp;&nbsp;1-416-646-2415  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B> Outside North America, Banks and Brokers Call Collect:&nbsp;&nbsp;&nbsp;&nbsp;1-416-304-0211  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=3><B>Any questions or requests for assistance or additional copies of the Offer and Circular, this Letter of Transmittal or
the Notice of Guaranteed Delivery may be directed to the Depositary or the Information Agent at the telephone numbers and locations set out above. Shareholders may also contact their investment
advisor, stockbroker, bank, trust company or other nominee for assistance concerning the&nbsp;Offer.</B></FONT></P>

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<P><br><A NAME="13ZCO40301_2">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_be40304_1">Exhibit 2.1</A></FONT><BR>
</UL>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dg40304_1">INSTRUCTIONS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dg40304_2">PRIVACY NOTICE</A></FONT><BR>
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<TYPE>EX-2.2
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<BR>
<FONT SIZE=3 ><A HREF="#13ZCO40301_3">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><A
NAME="page_be40305_1_1"> </A>


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<A NAME="toc_be40305_1"> </A>
<BR></FONT><FONT SIZE=2><B>  Exhibit 2.2    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I>THIS IS NOT A LETTER OF TRANSMITTAL. THIS NOTICE OF GUARANTEED DELIVERY IS FOR USE IN ACCEPTING THE OFFER BY DENISON MINES CORP. TO ACQUIRE ALL OUTSTANDING COMMON SHARES
(INCLUDING ASSOCIATED RIGHTS UNDER THE SHAREHOLDER RIGHTS PLAN) OF ROCKGATE CAPITAL&nbsp;CORP.</I></B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>NOTICE OF GUARANTEED DELIVERY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>for the deposit of Shares and SRP Rights  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B> of  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>ROCKGATE CAPITAL CORP.  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>under the Offer dated September&nbsp;19, 2013 made by  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>DENISON MINES CORP.  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=4><B>

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 </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 4:00&nbsp;P.M. (TORONTO TIME) ON OCTOBER 25, 2013 (THE&nbsp;"EXPIRY TIME") UNLESS THE
OFFER IS EXTENDED OR&nbsp;WITHDRAWN.</B></FONT></P>


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<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>USE THIS NOTICE OF GUARANTEED DELIVERY IF:   </B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2><B>1.</B></FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B> YOU WISH TO ACCEPT THE OFFER BUT YOUR COMMON SHARE CERTIFICATE(S)/DRS ADVICE (OR&nbsp;RIGHTS CERTIFICATE(S), IF APPLICABLE) ARE NOT IMMEDIATELY
AVAILABLE;</B></FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B>YOU ARE NOT ABLE TO DELIVER YOUR COMMON SHARE CERTIFICATE(S)/DRS ADVICE (OR&nbsp;RIGHTS CERTIFICATE(S), IF APPLICABLE) ALONG
WITH ALL OTHER REQUIRED DOCUMENTS TO THE DEPOSITARY AT OR PRIOR TO THE EXPIRY TIME;&nbsp;OR</B></FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><B>THE SEPARATION TIME HAS OCCURRED BUT YOU HAVE NOT YET RECEIVED YOUR RIGHTS CERTIFICATE(S).</B></FONT></DD></DL>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Notice of Guaranteed Delivery must be used to accept the offer dated September&nbsp;19, 2013 (the&nbsp;"</FONT><FONT SIZE=2><B>Offer</B></FONT><FONT SIZE=2>") made by Denison
Mines Corp. ("</FONT><FONT SIZE=2><B>Denison</B></FONT><FONT SIZE=2>") to purchase all of the issued and outstanding common shares
(the&nbsp;"</FONT><FONT SIZE=2><B>Shares</B></FONT><FONT SIZE=2>") of Rockgate Capital Corp. ("</FONT><FONT SIZE=2><B>Rockgate</B></FONT><FONT SIZE=2>"), including all Shares that may become
issued and outstanding after the date of the Offer but before the Expiry Time, including upon the exercise of Options (as&nbsp;defined in the Offer and Circular, as defined below) or any other
outstanding rights, together with any SRP Rights (as&nbsp;such term is defined in the Offer and Circular) attached to such Shares pursuant to the Shareholder Rights Plan (as&nbsp;such term is
defined in the Offer and Circular), if certificate(s)/DRS Advice representing the Shares and/or if the Separation Time (as&nbsp;such term is defined in the Shareholder Rights Plan) has occurred
prior to the Expiry Time, certificate(s) evidencing the SRP Rights (the&nbsp;"</FONT><FONT SIZE=2><B>Rights Certificates</B></FONT><FONT SIZE=2>") to be deposited are not immediately available or
if the holder (the&nbsp;"</FONT><FONT SIZE=2><B>Shareholder</B></FONT><FONT SIZE=2>") is not able to deliver the certificate(s)/DRS Advice and all other required documents to Computershare Investor
Services&nbsp;Inc. (the&nbsp;"</FONT><FONT SIZE=2><B>Depositary</B></FONT><FONT SIZE=2>") at or prior to the Expiry Time at its office specified below. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Offer, depositing Shareholders will receive, for each Share held, 0.192 of a common share (each whole common share, a "</FONT><FONT SIZE=2><B>Denison
Share</B></FONT><FONT SIZE=2>") of&nbsp;Denison. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
terms and conditions of the Offer and the Letter of Transmittal are incorporated by reference in this Notice of Guaranteed Delivery. Capitalized terms used but not defined in this
Notice of Guaranteed Delivery which are defined in the Offer and related circular dated September&nbsp;19, 2013 (the&nbsp;"</FONT><FONT SIZE=2><B>Offer and Circular</B></FONT><FONT SIZE=2>") have </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>1</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>the
respective meanings ascribed thereto in the Offer and Circular. All dollar references in this Notice of Guaranteed Delivery refer to Canadian dollars, except where otherwise indicated. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Questions or requests for assistance in accepting the Offer, completing this Notice of Guaranteed Delivery and depositing Shares (including associated SRP Rights)
with the Depositary may be directed to the Depositary or the Information Agent. Their contact details are provided at the end of this document. Shareholders whose Shares are registered in the name of
an investment advisor, stockbroker, bank, trust company or other nominee should immediately contact that nominee for assistance if they wish to accept the Offer in order to take the necessary steps to
be able to deposit such Shares (including associated SRP Rights) under the&nbsp;Offer.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="be40305_when_and_how_to_use_th__be402225"> </A>
<A NAME="toc_be40305_2"> </A>
<BR></FONT><FONT SIZE=2><B>  WHEN AND HOW TO USE THIS NOTICE OF GUARANTEED DELIVERY    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a Shareholder wishes to deposit Shares under the Offer and (i)&nbsp;the certificate(s)/DRS Advice representing the Shares and/or
if the Separation Time has occurred prior to the Expiry Time, the Rights Certificate(s) is (are) not immediately available; (ii)&nbsp;the certificate(s)/DRS Advice and all other required documents
cannot be delivered to the Depositary at or prior to the Expiry Time; or (iii)&nbsp;if the Separation Time has occurred prior to the Expiry Time but Rights Certificates have not been distributed to
Shareholders prior to the Expiry Time, those Shares (including associated SRP Rights) may nevertheless be deposited validly under the Offer provided that all of the following conditions
are&nbsp;met: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
deposit is made by or through an Eligible Institution (as&nbsp;defined&nbsp;below);
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>this
Notice of Guaranteed Delivery or a manually executed facsimile hereof, properly completed and executed, including the guarantee of delivery by an
Eligible Institution in the form set out below, is received by the Depositary at its office in Toronto, Ontario specified in this Notice of Guaranteed Delivery at or prior to the Expiry&nbsp;Time;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
certificate(s)/DRS Advice representing all deposited Shares, and if the Separation Time has occurred prior to the Expiry Time and Rights Certificates
have been distributed to Shareholders prior to the Expiry Time, the Rights Certificates representing the associated SRP Rights, in proper form for transfer, together with a Letter of Transmittal, or a
manually executed facsimile thereof, properly completed and executed, with the signatures guaranteed, if required, in accordance with the instructions set out in the Letter of Transmittal and all
other documents required by the terms of the Offer and the Letter of Transmittal, are received by the Depositary at its office in Toronto, Ontario specified in the Letter of Transmittal at or prior to
4:00&nbsp;p.m. (Toronto time) on the third trading day on the Toronto Stock Exchange ("</FONT><FONT SIZE=2><B>TSX</B></FONT><FONT SIZE=2>") after the Expiry Time;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if
the Separation Time has occurred prior to the Expiry Time but Rights Certificates have not been distributed to Shareholders prior to the Expiry Time, the
Rights Certificates representing the deposited SRP Rights, together with a Letter of Transmittal, or a manually executed facsimile thereof, properly completed and duly executed with signatures
guaranteed if so required in accordance with the instructions set out in the Letter of Transmittal, and all other documents required by the Letter of Transmittal are received by the Depositary at its
office in Toronto, Ontario specified in the Letter of Transmittal at or prior to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the TSX after the date, if any, that Rights Certificates
are distributed to Shareholders. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
"</FONT><FONT SIZE=2><B>Eligible Institution</B></FONT><FONT SIZE=2>" means a Canadian Schedule&nbsp;1 chartered bank, a major trust company in Canada, a member of the Securities
Transfer Agent Medallion Program (STAMP), a member of the Stock Exchanges Medallion Program (SEMP) or a member of the New&nbsp;York Stock Exchange&nbsp;Inc. Medallion Signature Program (MSP).
Members of these programs are usually members of a recognized stock exchange in Canada or the United&nbsp;States, members of the Investment Industry Regulatory Organization of Canada, members of the
Financial Industry Regulatory Authority or banks and trust companies in the United&nbsp;States. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned understands and acknowledges that payment for Shares deposited and taken up by Denison under the Offer will be made only after timely receipt by the Depositary of:
(i)&nbsp;certificates/DRS Advice representing such Shares (or&nbsp;a Book-Entry Confirmation) and, if applicable, the associated Rights Certificate(s), (ii)&nbsp;a Letter of Transmittal or a
facsimile thereof, properly completed and duly executed, with any signatures guaranteed, if so required (or, in the case of a book-entry transfer, a Book-Entry Confirmation and, in the case </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>2</FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>of
DTC accounts, a Letter of Transmittal (or&nbsp;a facsimile thereof), properly completed and duly executed, with any signatures guaranteed, if so required, or an Agent's Message in lieu of a
Letter of Transmittal), and (iii)&nbsp;all other documents required by the Letter of Transmittal prior to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the TSX after the Expiry Time
(except with respect to Rights Certificates if the Separation Time has occurred prior to the Expiry Time but Rights Certificates have not been distributed to Shareholders prior to the Expiry Time, in
which case receipt must be made by the Depositary, at its office set out herein, on or prior to 4:00&nbsp;p.m. (Toronto time) on the third trading day on the TSX after the date, if any, that Rights
Certificates are distributed to Shareholders). If the Separation Time occurs prior to the
Expiry Time, then a deposit of Shares constitutes an agreement by the undersigned to deliver, for no additional consideration, one or more Rights Certificates representing SRP Rights equal in number
to the number of Shares deposited under the Offer. Denison reserves the right to require, if the Separation Time occurs prior to the Expiry Time, that the Depositary receive from the undersigned prior
to taking up Shares for payment under the Offer, one or more Rights Certificates representing SRP Rights equal in number to the Shares deposited by the undersigned. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned also understands and acknowledges that under no circumstances will interest accrue or any amount be paid by Denison or the Depositary on the purchase price of the Shares
purchased by Denison under the Offer, regardless of any delay in making such payment, and that the consideration for the Shares tendered pursuant to the guaranteed delivery procedures will be the same
as that for the Shares delivered to the Depositary prior to the Expiry Time, even if the certificate(s) /DRS Advice representing all of the deposited Shares and, if applicable, the associated SRP
Rights, to be delivered pursuant to the guaranteed delivery procedures set forth in Section&nbsp;3 of the Offer, "Manner of Acceptance&nbsp;&#151;&nbsp;Procedure for
Guaranteed Delivery", are not so delivered to the Depositary, and therefore payment by the Depositary on account of such Shares is not made, until after the take-up and payment for the Shares under
the&nbsp;Offer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
authority conferred or agreed to be conferred by this Notice of Guaranteed Delivery is, to the extent permitted by applicable Laws, irrevocable and may be exercised during any
subsequent legal incapacity of the undersigned and shall, to the extent permitted by applicable Laws, survive the death or incapacity, bankruptcy or insolvency of the undersigned and all obligations
of the undersigned under this Notice of Guaranteed Delivery shall be binding upon the heirs, executors, administrators, attorneys, personal representatives, successors and assigns of the undersigned. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>THIS NOTICE OF GUARANTEED DELIVERY MUST BE DELIVERED BY HAND OR COURIER OR TRANSMITTED BY FACSIMILE OR MAILED TO THE DEPOSITARY AT ITS OFFICE SPECIFIED BELOW AT
OR PRIOR TO THE EXPIRY TIME AND MUST INCLUDE A GUARANTEE BY AN ELIGIBLE INSTITUTION IN THE FORM SET OUT IN THIS NOTICE OF GUARANTEED DELIVERY.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY AND THE LETTER OF TRANSMITTAL AND ACCOMPANYING CERTIFICATE(S)/DRS ADVICE REPRESENTING SHARES AND ALL OTHER REQUIRED
DOCUMENTS TO ANY OFFICE OTHER THAN THE OFFICE OF THE DEPOSITARY SPECIFIED BELOW DOES NOT CONSTITUTE DELIVERY FOR PURPOSES OF SATISFYING A GUARANTEED DELIVERY.</B></FONT></P>
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<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I>By Mail:</I></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><I> By Hand or by Courier:</I></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><I> By Facsimile Transmission:</I></FONT></TD>
</TR>
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<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Computershare Investor Services&nbsp;Inc.<BR>
PO Box&nbsp;7021<BR>
31&nbsp;Adelaide Street E.<BR>
Toronto ON<BR>
M5C&nbsp;3H2<BR>
Attention: Corporate Actions</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Computershare Investor Services&nbsp;Inc.<BR>
100&nbsp;University Ave., 8<SUP>th</SUP>&nbsp;Floor<BR>
Toronto ON<BR>
M5J&nbsp;2Y1<BR>
Attention: Corporate Actions</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><p align=center style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>(905)&nbsp;771-4082</FONT></TD>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>TO CONSTITUTE DELIVERY FOR THE PURPOSE OF SATISFYING GUARANTEED DELIVERY, UPON RECEIPT OF THE CERTIFICATE(S)/DRS ADVICE TO WHICH THIS NOTICE OF GUARANTEED
DELIVERY APPLIES, THE LETTER OF TRANSMITTAL, ACCOMPANYING CERTIFICATE(S)/DRS ADVICE AND ALL OTHER REQUIRED DOCUMENTS MUST BE DELIVERED TO THE SAME OFFICE OF THE DEPOSITARY WHERE THIS NOTICE OF
GUARANTEED DELIVERY IS&nbsp;DELIVERED.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO BE USED TO GUARANTEE SIGNATURES ON THE LETTER OF TRANSMITTAL. IF A SIGNATURE ON THE LETTER OF TRANSMITTAL IS REQUIRED
TO BE GUARANTEED BY AN ELIGIBLE INSTITUTION, SUCH SIGNATURE MUST APPEAR IN THE APPLICABLE SPACE IN THE LETTER OF&nbsp;TRANSMITTAL.</B></FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>DO NOT SEND CERTIFICATES/DRS ADVICE REPRESENTING SHARES WITH THIS NOTICE OF GUARANTEED DELIVERY. CERTIFICATES/DRS ADVICE FOR SHARES MUST BE SENT WITH YOUR LETTER
OF&nbsp;TRANSMITTAL.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>4</FONT></P>

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<TH ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><B> </B></FONT><FONT SIZE=2><B>TO:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B>DENISON MINES CORP.</B></FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><B> </B></FONT><FONT SIZE=2><B>AND TO:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B>COMPUTERSHARE INVESTOR SERVICES&nbsp;INC.</B></FONT></TD>
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 <P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby deposits with Denison, upon the terms and subject to the conditions set forth in the Offer and Circular and the Letter of Transmittal,
receipt of which is hereby acknowledged, the Shares listed below pursuant to the guaranteed delivery procedure set forth in Section&nbsp;3 of the Offer, "Manner of
Acceptance&nbsp;&#151;&nbsp;Procedure for Guaranteed Delivery". </FONT></P>
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<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
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<TD COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> Box&nbsp;1<BR>
SHARES<BR> </B></FONT><FONT SIZE=1><B>(Please print or type. If space is insufficient, please attach a list to<BR>
this Notice of Guaranteed Delivery in the form below.)</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Certificate Number(s)/DRS Advice Statement Number(s) (if&nbsp;available)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Name(s) in which Share(s)<BR>
is (are) Registered<BR>
(fill in exactly as name(s)<BR>
appear(s) on certificate(s)/DRS Advice)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number of Shares<BR>
Represented by<BR>
Certificate(s)/DRS Advice</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number<BR>
of Shares<BR>
Deposited*</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> TOTAL</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:12%;">
 <DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>*</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Unless
otherwise indicated, the total number of Shares evidenced by all certificates/DRS Advice delivered with a Letter of Transmittal will be deemed to have
been&nbsp;deposited. </FONT></DD></DL>
 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders are required to deposit one SRP Right for each Share in order to effect a valid deposit of such Share or, if available, a Book-Entry
Confirmation must be received by the Depositary with respect thereto. No additional payment will be made for the SRP Rights and no amount of the consideration to be paid by Denison will be allocated
by Denison to the SRP Rights. </FONT><FONT SIZE=2><B>Please note that you need not complete Box&nbsp;2 if the Separation Time has not occurred prior to the
Expiry&nbsp;Time.</B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<P style="font-family:times;text-align:justify"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="134pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="103pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="103pt" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> Box&nbsp;2<BR>
SRP RIGHTS<BR> </B></FONT><FONT SIZE=1><B>(Please print or type. If space is insufficient, please attach a list to<BR>
this Notice of Guaranteed Delivery in the form below.)</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Certificate<BR>
Number(s)<BR>
(if&nbsp;available)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Name(s) in which Share(s)<BR>
is (are) Registered<BR>
(fill in exactly as name(s)<BR>
appear(s) on certificate(s))</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number of SRP Rights<BR>
Represented by<BR>
Certificate(s)</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=1><B>Number of<BR>
SRP Rights Deposited*</B></FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=2><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> TOTAL</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
<DIV style="padding:0pt;position:relative;text-align:left;margin-left:12%;">
 <DL compact>
<DT style='font-family:times;margin-bottom:-9pt;'><FONT SIZE=1>*</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=1>Unless
otherwise indicated, the total number of SRP Rights evidenced by all certificates delivered with a Letter of Transmittal will be deemed to have
been&nbsp;deposited. </FONT></DD></DL>
 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=1><BR></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=5,EFW="2216722",CP="DENISON MINES CORPORATION",DN="3",CHK=323615,FOLIO='5',FILE='DISK106:[13ZCO5.13ZCO40305]CC40305A.;5',USER='RRICKEN',CD='18-SEP-2013;11:53' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:times;text-align:justify"><FONT SIZE=2><A
NAME="page_ce40305_1_6"> </A>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:times;" -->




<!-- COMMAND=ADD_TABLESHADECOLOR,"#CCEEFF" -->




<!-- COMMAND=ADD_STABLERULES,"border-bottom:solid #000000 1.0pt;" -->





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<!-- COMMAND=ADD_DCRTABLERULES,"border-bottom:double #000000 2.25pt;margin-bottom:0pt;" -->


<!-- PARA=JUSTIFY -->
</FONT></P>
 <DIV style="padding:0pt;position:relative;width:100%;margin-left:0%;">
<P style="font-family:times;text-align:justify"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="47%" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="47%" style="font-family:times;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>SHAREHOLDER SIGNATURE(S)</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Signature(s) of Shareholder(s)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Address(es)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Name (please print or type)</FONT></TD>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Date</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Postal Code / Zip Code</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
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<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
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&nbsp;</TD>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Daytime Telephone Number</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
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<TD COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>GUARANTEE OF DELIVERY</B></FONT><BR>
<FONT SIZE=1><B>(Not&nbsp;to be used for signature guarantee)</B></FONT></TD>
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<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><BR>
The undersigned, an Eligible Institution, guarantees delivery to the Depositary, at its address set forth herein, of the certificate(s)/DRS Advice representing the Shares deposited hereby, in proper form for transfer together with delivery of a
properly completed and executed Letter of Transmittal in the form accompanying the Offer and Circular, or an originally signed facsimile copy thereof, and all other documents required by the Letter of Transmittal, all on or before 4:00&nbsp;p.m.
(Toronto time) on the third trading day on the TSX after the Expiry Time.</FONT></TD>
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<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><BR>
Failure to comply with the foregoing could result in a financial loss to such Eligible Institution.</FONT></TD>
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<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
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&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Name of Firm</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Authorized Signature</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Address of Firm</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Name</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
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<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Postal / Zip Code</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Title</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><FONT SIZE=1><BR>
<BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR>&nbsp;</TD>
<TD ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;"><BR>&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Area Code and Telephone Number</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>Date</FONT></TD>
</TR>
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<TD style="font-family:times;"><BR><FONT SIZE=1><BR>
<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
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<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:times;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
</TR>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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NAME="page_ka40305_1_7"> </A>


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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>This Depositary for the Offer is:  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>Computershare Investor Services&nbsp;Inc.  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<P style="font-family:times;text-align:justify"></FONT></P>

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<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>By Mail</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> By Hand or by Courier</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> By Facsimile Transmission</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Computershare Investor Services&nbsp;Inc.<BR>
PO Box&nbsp;7021<BR>
31&nbsp;Adelaide Street E.<BR>
Toronto ON<BR>
M5C&nbsp;3H2<BR>
Attention: Corporate Actions</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Computershare Investor Services&nbsp;Inc.<BR>
100&nbsp;University Ave., 8<SUP>th</SUP>&nbsp;Floor<BR>
Toronto ON<BR>
M5J&nbsp;2Y1<BR>
Attention: Corporate Actions</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>(905)&nbsp;771-4082</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Toll
Free: 1-800-564-6253<BR>
E-mail: corporateactions@computershare.com </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>The Information Agent for the Offer is:</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>Laurel Hill Advisory Group  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>North American Toll Free Phone:</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>1-877-452-7184<BR>  </B></FONT><FONT SIZE=3><B>E-mail: </B></FONT><FONT SIZE=3><U>assistance@laurelhill.com</U><BR></FONT> <FONT SIZE=3><B>Facsimile: </B></FONT><FONT SIZE=3>1-416-646-2415</FONT><FONT SIZE=3><B><BR>
Outside North America, Banks and Brokers Call Collect: </B></FONT><FONT SIZE=3>1-416-304-0211 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=3><B>Any questions or requests for assistance or additional copies of the Offer and Circular, the Letter of Transmittal or
this Notice of Guaranteed Delivery may be directed to the Depositary or the Information Agent at the telephone numbers and locations set out above. Shareholders may also contact their investment
advisor, stockbroker, bank, trust company or other nominee for assistance concerning the&nbsp;Offer.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>7</FONT></P>

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<P><br><A NAME="13ZCO40301_3">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_be40305_1">Exhibit 2.2</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_be40305_2">WHEN AND HOW TO USE THIS NOTICE OF GUARANTEED DELIVERY</A></FONT><BR>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.3
<SEQUENCE>4
<FILENAME>a2216722zex-2_3.htm
<DESCRIPTION>EX-2.3
<TEXT>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.3</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[<b><i style="font-weight:bold;">On Letterhead of JPMorgan Asset Management (UK) Limited</i></b>]</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;13, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.<br> Suite&nbsp;2000<br> 885 West Georgia Street<br> Vancouver, British Columbia<br> V6C 3E8</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ron Hochstein</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and   Chief Executive Officer</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ref: <b><i style="font-weight:bold;">Undertaking to Tender to Offer</i></b></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We understand that Denison Mines Corp. (&#147;<b>you</b>&#148; or &#147;<b>Denison</b>&#148;), either directly or through a subsidiary, intends to make an offer (the &#147;<b>Offer</b>&#148;) to all of the shareholders of Rockgate Capital Corp. (&#147;<b>Rockgate</b>&#148;) to purchase all of the issued and outstanding common shares of Rockgate.&#160; The consideration under the Offer will be 0.192 common shares of Denison for every one common share of Rockgate - (ratio of 0.192 is preliminary at time of writing and subject to final terms).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to our rights set out below to terminate our commitment, we will support the Offer and will not conduct ourselves in a manner that is inconsistent with the completion of the Offer.&#160; We will tender and deposit under the Offer all of the common shares of Rockgate that as of the date of this letter are beneficially owned by us or over which we exercise control and direction (the subject shares).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, we also agree that we will:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not sell, option,   transfer or otherwise encumber any of the Subject Shares or any interest   therein;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not solicit a   competing transaction or otherwise knowingly take any action of any kind   which is reasonably likely to reduce the likelihood of success of the Offer;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="86%" valign="top" style="padding:0in 0in 0in 0in;width:86.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">other than as you   and we have agreed or may agree in writing, not grant or agree to grant any   proxy or other right to vote Subject Shares or enter into any voting trust,   vote pooling or other agreement with respect to the right to vote, call   meetings of securityholders or give consents or approvals of any kind as to   the Subject Shares;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not do indirectly   anything that we have agreed not to do directly in this letter; and</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">deposit all of the   Subject Shares, together with a duly completed and executed letter of   transmittal and any other necessary documents or instruments to effect the   valid tender of the Subject Shares to the Offer, with the depositary   appointed for the purposes of the Offer.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding any other provision of this letter, our obligations hereunder shall automatically terminate:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if the Offer is   not announced prior to <b><i style="font-weight:bold;">October&nbsp;1, 2013</i></b>;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if the Offer is   amended to reduce the amount of the consideration payable thereunder;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if the Offer is   withdrawn or terminated for any reason; or</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if an acquisition   proposal from a new third party (i.e. other than Mega Uranium or Rockgate):   with more favourable terms.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The terms of this letter and our obligations hereunder may only be amended or modified by written agreement by us. The terms of this letter may be enforced and relied upon only by you and us and the operation of the Contracts <i>(Rights of Third Parties) Act 1999&#160; </i>does not apply.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The terms of this letter and any non-contractual obligations arising out of or in connection with it will be governed by an construed in accordance with English law.&#160; The English courts will have exlcusive jurisdiction to settle any dispute or claims which may arise out of or in connection with this letter (including a dispute regarding the existence, validity or termination of this letter or any non-contractual obligation arising out of or in connection with this letter) for which purpose you agree to submit to such jurisdiction.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Rockgatge shares we beneficially own or over which we exercise control and direction as of the date hereof: 8,584,400.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yours faithfully</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For and on behalf of</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) [Illegible]</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signatory</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KG_PB_2_105407_7056"></a></font></p>
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<TYPE>EX-2.4
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<DESCRIPTION>EX-2.4
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.4</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;16, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.<br> Suite&nbsp;2000<br> 885 West Georgia Street<br> Vancouver, British Columbia<br> V6C 3E8</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ron Hochstein</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and   Chief Executive Officer</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We understand that Denison Mines Corp. (&#147;<b>you</b>&#148; or &#147;<b>Denison</b>&#148;), either directly or through a subsidiary, intends to make an offer (the &#147;<b>Offer</b>&#148;) to all of the shareholders of Rockgate Capital Corp. (&#147;<b>Rockgate</b>&#148;) to purchase all of the issued and outstanding common shares of Rockgate.&#160; The consideration under the Offer will be equivalent to a value of C$0.235 common shares of Denison for every one common share of Rockgate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to our rights set out below to terminate our commitment, we will support the Offer and will not conduct ourselves in a manner that is inconsistent with the completion of the Offer.&#160; Accordingly, subject to any regulations or other restrictions, including our internal compliance policy, we will tender and deposit under the Offer all of the common shares of Rockgate that as of the date of this letter are beneficially owned by us or over which we exercise control and direction (which number is noted on the signature page&nbsp;below), along with any additional common shares of Rockgate that we may subsequently acquire (the &#147;<b>Subject Shares</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, we also agree that we will:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not sell, option,   transfer or otherwise encumber any of the Subject Shares or any interest   therein;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not solicit a   competing transaction or otherwise knowingly take any action of any kind   which is reasonably likely to reduce the likelihood of success of the Offer;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">other than as you   and we have agreed or may agree in writing, not grant or agree to grant any   proxy or other right to vote Subject Shares or enter into any voting trust,   vote pooling or other agreement with respect to the right to vote, call   meetings of securityholders or give consents or approvals of any kind as to   the Subject Shares;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not do indirectly   anything that we have agreed not to do directly in this letter; and</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">deposit all of the   Subject Shares, together with a duly completed and executed letter of   transmittal and any other necessary documents or</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">instruments to   effect the valid tender of the Subject Shares to the Offer, with the   depositary appointed for the purposes of the Offer.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding any other provision of this letter, our obligations hereunder shall automatically terminate if:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is not   announced prior to October&nbsp;1, 2013;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is   amended to reduce the amount of the consideration payable thereunder;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is   withdrawn or terminated for any reason; or</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">an Acquisition   Proposal other than:</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any Acquisition   Proposal from Mega Uranium Ltd. or any associate or affiliate of Mega Uranium   Ltd. or any party acting jointly or in concert with Mega Uranium Ltd, or</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="80%" valign="top" style="padding:0in 0in 0in 0in;width:80.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any revision or   amendment to the plan of arrangement transaction presently proposed between   Rockgate and Mega Uranium Ltd.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is made to   Rockgate or the shareholders of Rockgate that the undersigned reasonably   believes, acting in good faith, if consummated in accordance with its terms   would result in a transaction more favourable to the undersigned from a   financial point of view than the Offer or any amendment to the Offer made by   you no later than seven business days after the announcement of the initial   terms of any such proposed transaction, it being understood that, so as to   allow you a reasonable time period to consider and announce any amendment to   the Offer in light of any Acquisition Proposal, our obligations hereunder may   not be terminated under this paragraph (d)&nbsp;until the eighth business day   after the announcement of the initial terms of any such proposed transaction.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The term &#147;<b>Acquisition Proposal</b>&#148; means, any offer, proposal from any person (other than Denison) relating to: (i)&nbsp;any acquisition or sale, direct or indirect, of: (a)&nbsp;the assets of Rockgate and/or one or more of its subsidiaries that, individually or in the aggregate, constitute 20% or more of the fair market value of the consolidated assets of Rockgate and its subsidiaries; or (b)&nbsp;20% or more of any voting or equity securities of Rockgate or any of its subsidiaries whose assets, individually or in the aggregate, constitute 20% or more of the fair market value of the consolidated assets of Rockgate and its subsidiaries; (ii)&nbsp;any take-over bid, tender offer or exchange offer for any class of voting or equity securities of Rockgate; or (iii)&nbsp;a plan of arrangement, merger, amalgamation, consolidation, share exchange, share issuance, business combination, reorganization,</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KH_PB_2_105552_5335"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">recapitalization, liquidation, dissolution or other similar transaction involving Rockgate or any of its subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We recognize and acknowledge that you would not contemplate proceeding with the Offer without our commitment set out in this letter, and that a breach by us of any covenant or other commitments contained in this letter will cause you to sustain injury for which you would not have an adequate remedy at law for money damages. Therefore, we agree that in the event of any such breach, you shall be entitled to the remedy of specific performance of such covenants or commitments and preliminary and permanent injunctive and other equitable relief in addition to any other remedy to which you may be entitled, at law or in equity and further agree to waive any requirement for the securing or posting of any bond in connection with the obtaining of any such injunctive or equitable relief.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The terms of this letter and our obligations hereunder may only be amended or modified by written agreement by us. The terms of this letter may be enforced and relied upon only by you and us and the operation of the Contracts <i>(Rights of Third Parties) Act 1999 </i>is excluded.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this letter.&#160; This letter shall not become binding on either you or us unless and until you have executed this letter and delivered it to us.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter and any non-contractual obligations arising out of or in connection with it (including any non-contractual obligations arising out of the negotiation of the transaction contemplated by this letter) are governed by and construed in accordance with the laws of England and the parties submit to the non-exclusive jurisdiction of the English courts.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yours faithfully</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For and on behalf of <b>New City Energy Limited</b>:</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) [Illegible]</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized Signatory</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Rockgate shares we beneficially own or over which we exercise control and direction as of the date hereof: 1,750,000</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executed by Denison Mines Corp. and delivered this 16th day of September, 2013:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DENISON   MINES CORP.</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) &#147;<i>Ron F. Hochstein</i>&#148;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signatory</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="20903-2-KH_PB_3_113020_7056"></a></font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.5</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;16, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.<br> Suite&nbsp;2000<br> 885 West Georgia Street<br> Vancouver, British Columbia<br> V6C 3E8</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ron Hochstein</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and   Chief Executive Officer</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We understand that Denison Mines Corp. (&#147;<b>you</b>&#148; or &#147;<b>Denison</b>&#148;), either directly or through a subsidiary, intends to make an offer (the &#147;<b>Offer</b>&#148;) to all of the shareholders of Rockgate Capital Corp. (&#147;<b>Rockgate</b>&#148;) to purchase all of the issued and outstanding common shares of Rockgate.&#160; The consideration under the Offer will be equivalent to a value of C$0.235 common shares of Denison for every one common share of Rockgate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to our rights set out below to terminate our commitment, we will support the Offer and will not conduct ourselves in a manner that is inconsistent with the completion of the Offer.&#160; Accordingly, subject to any regulations or other restrictions, including our internal compliance policy, we will tender and deposit under the Offer all of the common shares of Rockgate that as of the date of this letter are beneficially owned by us or over which we exercise control and direction (which number is noted on the signature page&nbsp;below), along with any additional common shares of Rockgate that we may subsequently acquire (the &#147;<b>Subject Shares</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, we also agree that we will:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not sell, option,   transfer or otherwise encumber any of the Subject Shares or any interest   therein;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not solicit a   competing transaction or otherwise knowingly take any action of any kind   which is reasonably likely to reduce the likelihood of success of the Offer;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">other than as you   and we have agreed or may agree in writing, not grant or agree to grant any   proxy or other right to vote Subject Shares or enter into any voting trust,   vote pooling or other agreement with respect to the right to vote, call   meetings of securityholders or give consents or approvals of any kind as to   the Subject Shares;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not do indirectly   anything that we have agreed not to do directly in this letter; and</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">deposit all of the   Subject Shares, together with a duly completed and executed letter of   transmittal and any other necessary documents or</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=1,EFW="2216722",CP="DENISON MINES CORPORATION",DN="6",CHK=742397,FOLIO='',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KI_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 20:49 2013' -->

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<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">instruments to   effect the valid tender of the Subject Shares to the Offer, with the   depositary appointed for the purposes of the Offer.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding any other provision of this letter, our obligations hereunder shall automatically terminate if:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is not   announced prior to October&nbsp;1, 2013;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is   amended to reduce the amount of the consideration payable thereunder;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is   withdrawn or terminated for any reason; or</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">an Acquisition   Proposal other than:</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any Acquisition   Proposal from Mega Uranium Ltd. or any associate or affiliate of Mega Uranium   Ltd. or any party acting jointly or in concert with Mega Uranium Ltd, or</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any revision or   amendment to the plan of arrangement transaction presently proposed between   Rockgate and Mega Uranium Ltd.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is made to   Rockgate or the shareholders of Rockgate that the undersigned reasonably   believes, acting in good faith, if consummated in accordance with its terms   would result in a transaction more favourable to the undersigned from a   financial point of view than the Offer or any amendment to the Offer made by   you no later than seven business days after the announcement of the initial   terms of any such proposed transaction, it being understood that, so as to   allow you a reasonable time period to consider and announce any amendment to   the Offer in light of any Acquisition Proposal, our obligations hereunder may   not be terminated under this paragraph (d)&nbsp;until the eighth business day   after the announcement of the initial terms of any such proposed transaction.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The term &#147;<b>Acquisition Proposal</b>&#148; means, any offer, proposal from any person (other than Denison) relating to: (i)&nbsp;any acquisition or sale, direct or indirect, of: (a)&nbsp;the assets of Rockgate and/or one or more of its subsidiaries that, individually or in the aggregate, constitute 20% or more of the fair market value of the consolidated assets of Rockgate and its subsidiaries; or (b)&nbsp;20% or more of any voting or equity securities of Rockgate or any of its subsidiaries whose assets, individually or in the aggregate, constitute 20% or more of the fair market value of the consolidated assets of Rockgate and its subsidiaries; (ii)&nbsp;any take-over bid, tender offer or exchange offer for any class of voting or equity securities of Rockgate; or (iii)&nbsp;a plan of arrangement, merger, amalgamation, consolidation, share exchange, share issuance, business combination, reorganization,</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KI_PB_2_105826_5796"></a></font></p>
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<!-- ZEQ.=1,SEQ=2,EFW="2216722",CP="DENISON MINES CORPORATION",DN="6",CHK=756054,FOLIO='2',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KI_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 20:49 2013' -->

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">recapitalization, liquidation, dissolution or other similar transaction involving Rockgate or any of its subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We recognize and acknowledge that you would not contemplate proceeding with the Offer without our commitment set out in this letter, and that a breach by us of any covenant or other commitments contained in this letter will cause you to sustain injury for which you would not have an adequate remedy at law for money damages. Therefore, we agree that in the event of any such breach, you shall be entitled to the remedy of specific performance of such covenants or commitments and preliminary and permanent injunctive and other equitable relief in addition to any other remedy to which you may be entitled, at law or in equity and further agree to waive any requirement for the securing or posting of any bond in connection with the obtaining of any such injunctive or equitable relief.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The terms of this letter and our obligations hereunder may only be amended or modified by written agreement by us. The terms of this letter may be enforced and relied upon only by you and us and the operation of the Contracts <i>(Rights of Third Parties) Act 1999 </i>is excluded.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this letter.&#160; This letter shall not become binding on either you or us unless and until you have executed this letter and delivered it to us.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter and any non-contractual obligations arising out of or in connection with it (including any non-contractual obligations arising out of the negotiation of the transaction contemplated by this letter) are governed by and construed in accordance with the laws of England and the parties submit to the non-exclusive jurisdiction of the English courts.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yours faithfully</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For and on behalf of <b>Geiger Counter Limited</b>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) [Illegible]</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized Signatory</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Rockgate shares we beneficially own or over which we exercise control and direction as of the date hereof: 4,297,500</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executed by Denison Mines Corp. and delivered this 16th day of September, 2013:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DENISON MINES CORP.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) &#147;<i>Ron F. Hochstein</i>&#148;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signatory</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="20903-2-KI_PB_3_113038_5335"></a></font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.6</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;16, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.<br> Suite&nbsp;2000<br> 885 West Georgia Street<br> Vancouver, British Columbia<br> V6C 3E8</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ron Hochstein</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and   Chief Executive Officer</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We understand that Denison Mines Corp. (&#147;<b>you</b>&#148; or &#147;<b>Denison</b>&#148;), either directly or through a subsidiary, intends to make an offer (the &#147;<b>Offer</b>&#148;) to all of the shareholders of Rockgate Capital Corp. (&#147;<b>Rockgate</b>&#148;) to purchase all of the issued and outstanding common shares of Rockgate.&#160; The consideration under the Offer will be equivalent to a value of C$0.235 common shares of Denison for every one common share of Rockgate.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to our rights set out below to terminate our commitment, we will support the Offer and will not conduct ourselves in a manner that is inconsistent with the completion of the Offer.&#160; Accordingly, subject to any regulations or other restrictions, including our internal compliance policy, we will tender and deposit under the Offer all of the common shares of Rockgate that as of the date of this letter are beneficially owned by us or over which we exercise control and direction (which number is noted on the signature page&nbsp;below), along with any additional common shares of Rockgate that we may subsequently acquire (the &#147;<b>Subject Shares</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accordingly, we also agree that we will:</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not sell, option,   transfer or otherwise encumber any of the Subject Shares or any interest   therein;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not solicit a   competing transaction or otherwise knowingly take any action of any kind   which is reasonably likely to reduce the likelihood of success of the Offer;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">other than as you   and we have agreed or may agree in writing, not grant or agree to grant any   proxy or other right to vote Subject Shares or enter into any voting trust,   vote pooling or other agreement with respect to the right to vote, call   meetings of securityholders or give consents or approvals of any kind as to   the Subject Shares;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not do indirectly   anything that we have agreed not to do directly in this letter; and</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">deposit all of the   Subject Shares, together with a duly completed and executed letter of   transmittal and any other necessary documents or</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">instruments to   effect the valid tender of the Subject Shares to the Offer, with the   depositary appointed for the purposes of the Offer.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding any other provision of this letter, our obligations hereunder shall automatically terminate if:</font></p>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is not   announced prior to October&nbsp;1, 2013;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is   amended to reduce the amount of the consideration payable thereunder;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Offer is   withdrawn or terminated for any reason; or</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">an Acquisition   Proposal other than:</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any Acquisition   Proposal from Mega Uranium Ltd. or any associate or affiliate of Mega Uranium   Ltd. or any party acting jointly or in concert with Mega Uranium Ltd, or</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">any revision or   amendment to the plan of arrangement transaction presently proposed between   Rockgate and Mega Uranium Ltd.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is made to   Rockgate or the shareholders of Rockgate that the undersigned reasonably   believes, acting in good faith, if consummated in accordance with its terms   would result in a transaction more favourable to the undersigned from a   financial point of view than the Offer or any amendment to the Offer made by   you no later than seven business days after the announcement of the initial   terms of any such proposed transaction, it being understood that, so as to   allow you a reasonable time period to consider and announce any amendment to   the Offer in light of any Acquisition Proposal, our obligations hereunder may   not be terminated under this paragraph (d)&nbsp;until the eighth business day   after the announcement of the initial terms of any such proposed transaction.</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The term &#147;<b>Acquisition Proposal</b>&#148; means, any offer, proposal from any person (other than Denison) relating to: (i)&nbsp;any acquisition or sale, direct or indirect, of: (a)&nbsp;the assets of Rockgate and/or one or more of its subsidiaries that, individually or in the aggregate, constitute 20% or more of the fair market value of the consolidated assets of Rockgate and its subsidiaries; or (b)&nbsp;20% or more of any voting or equity securities of Rockgate or any of its subsidiaries whose assets, individually or in the aggregate, constitute 20% or more of the fair market value of the consolidated assets of Rockgate and its subsidiaries; (ii)&nbsp;any take-over bid, tender offer or exchange offer for any class of voting or equity securities of Rockgate; or (iii)&nbsp;a plan of arrangement, merger, amalgamation, consolidation, share exchange, share issuance, business combination, reorganization,</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KJ_PB_2_110026_2897"></a></font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">recapitalization, liquidation, dissolution or other similar transaction involving Rockgate or any of its subsidiaries.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We recognize and acknowledge that you would not contemplate proceeding with the Offer without our commitment set out in this letter, and that a breach by us of any covenant or other commitments contained in this letter will cause you to sustain injury for which you would not have an adequate remedy at law for money damages. Therefore, we agree that in the event of any such breach, you shall be entitled to the remedy of specific performance of such covenants or commitments and preliminary and permanent injunctive and other equitable relief in addition to any other remedy to which you may be entitled, at law or in equity and further agree to waive any requirement for the securing or posting of any bond in connection with the obtaining of any such injunctive or equitable relief.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The terms of this letter and our obligations hereunder may only be amended or modified by written agreement by us. The terms of this letter may be enforced and relied upon only by you and us and the operation of the Contracts <i>(Rights of Third Parties) Act 1999 </i>is excluded.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this letter.&#160; This letter shall not become binding on either you or us unless and until you have executed this letter and delivered it to us.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter and any non-contractual obligations arising out of or in connection with it (including any non-contractual obligations arising out of the negotiation of the transaction contemplated by this letter) are governed by and construed in accordance with the laws of England and the parties submit to the non-exclusive jurisdiction of the English courts.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yours faithfully</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For and on behalf of <b>City Natural Resources High Yield Trust Plc</b>:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) [Illegible]</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signatory</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Rockgate shares we beneficially own or over which we exercise control and direction as of the date hereof: 5,750,000</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executed by Denison Mines Corp. and delivered this 16th day of September, 2013:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DENISON MINES CORP.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) &#147;<i>Ron F. Hochstein</i>&#148;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signatory</font></p>    </td>   </tr>  </table>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="20903-2-KJ_PB_3_113157_5796"></a></font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.7</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LOCK-UP AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS AGREEMENT</font></b><font size="2" style="font-size:10.0pt;"> dated for reference the 18th day of September, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMONG:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp., a corporation incorporated under the laws of Ontario</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;<b>Offeror</b>&#148;)</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AND</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sprott Asset Management USA Inc., a corporation incorporated under the laws of California</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;<b>Seller</b>&#148;)</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">this Lock-Up Agreement (the &#147;<b>Agreement</b>&#148;) sets out the terms and conditions upon which the Offeror, either directly or at its sole discretion through a wholly-owned subsidiary, will make an offer (the &#147;<b>Offer</b>&#148;) to purchase all of the issued and outstanding common shares (the &#147;<b>Subject Shares</b>&#148;) of Rockgate Capital Corp. (&#147;<b>Rockgate</b>&#148;), including any Subject Shares that may become outstanding after the date of the Offer but before the expiry time of the Offer upon the conversion, exchange or exercise of securities of Rockgate or any of its subsidiaries;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">this Agreement sets out the terms and conditions of the agreement of the Seller to deposit or cause to be deposited under the Offer: (i) the number of Subject Shares set forth in Schedule A hereto, representing all of the Subject Shares presently owned legally or beneficially by such Seller (including Subject Shares owned legally or beneficially by any subsidiary or affiliate of the Seller), or over which the Seller exercises control or direction, and (ii) all Subject Shares subsequently acquired by the Seller (all of such Subject Shares of the Seller are hereinafter collectively referred to as the &#147;<b>Seller&#146;s Shares</b>&#148;), and sets out the obligations and commitments of the Seller in connection therewith;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Seller acknowledges that the Offeror would not commence the Offer but for the execution and delivery of this Agreement by the Seller;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Offeror wishes to acquire all of the Seller&#146;s Shares upon and subject to the terms and conditions hereinafter set forth; and</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Seller wishes to sell all of the Seller&#146;s Shares to the Offeror upon and subject to the terms and conditions hereinafter set forth;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW THEREFORE, </font></b><font size="2" style="font-size:10.0pt;">in consideration of the Offeror agreeing to initiate and make the Offer, and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereby agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE 1<br> THE OFFER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Offer</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to the terms of this Agreement, the Offeror hereby covenants and agrees to make the Offer. The Offer will contain customary conditions for a take-over bid, including, without limitation: 90% minimum tender condition (the &#147;<b>Minimum Tender Condition</b>&#148;); the waiver or termination of all rights under any shareholder rights plan(s), by regulatory order or otherwise, to Denison&#146;s satisfaction; Rockgate not having implemented or approved any issuance of shares or other securities or any other transaction, capital expenditure or distribution to its shareholders outside the ordinary course of business; there being no change in the business, operations or assets of Rockgate that constitutes a material adverse effect in respect of Rockgate;&#160; and absence of material misstatements by Rockgate in its public disclosure documents (collectively, the &#147;<b>Conditions</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The terms of the Offer shall include any amendments or variations to, or extensions of, such Offer, including, without limitation, removing or waiving any Condition or extending the date by which the Subject Shares may be deposited. The Offer will be made to the holders of all of the Subject Shares in consideration for 0.192 Offeror Common Share for each Subject Share.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Subsection 1.1(e) below, the Offeror shall commence the Offer by notice as soon as practicable and in any event no later than 11:59 p.m. (Toronto time) on September 20, 2013.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Offer will be made in accordance with applicable securities laws and shall expire no earlier than 4:00 p.m. (Toronto time) on the thirty-sixth (36th) day after the day that the Offer is commenced, subject to the right of the Offeror to extend the period of time during which the Subject Shares may be deposited under the Offer (as it may be extended, the &#147;<b>Expiry Time</b>&#148;). The Offer will not be subject to any conditions other than the Conditions.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller acknowledges and agrees that the Offeror may, in its sole and absolute discretion, amend, supplement, modify or waive any term or Condition of the Offer in whole or in part, provided that the Seller will be released from its obligations hereunder if the Offeror, without the consent of the Seller: (i) decreases the consideration per Subject Share, as specified in this Section 1.1, (ii) changes the form of consideration payable under the Offer (other than to add additional consideration or the option of Rockgate&#146;s shareholders to choose one or more alternative forms of consideration in addition to the form of consideration herein specified), or (iii) otherwise amends or varies the terms and Conditions of the Offer in a manner adverse to the Seller. If the Offeror increases the consideration payable under the Offer prior to the expiry of the Offer, the Seller shall be entitled to such increased consideration in respect of its Subject Shares that are taken up by the Offeror, as required by applicable securities laws.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligation of the Offeror to make the Offer is conditional on the prior satisfaction of the following conditions, all of which conditions are included for the sole benefit of the Offeror and any or all of which may be waived by the Offeror in</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KH-01_PB_2_055153_7056"></a></font></p>
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<!-- ZEQ.=1,SEQ=2,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=959653,FOLIO='2',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 05:55 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">whole or in part in its sole discretion without prejudice to any other rights it may have under this Agreement or otherwise:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">no circumstance, fact, change, event or occurrence shall have occurred that would render it impossible for the Offer to be consummated absent a waiver of or modification to one or more of the Conditions;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">no cease trade order, injunction or other prohibition at law shall exist against the Offeror making the Offer or taking up and paying for Subject Shares deposited under the Offer; and</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Offeror shall have determined in its sole discretion that no material adverse change shall have occurred with respect to either the Offeror or Rockgate.</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Deposit by Seller</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Subsection 1.2(b) below, the Seller agrees to deposit or cause to be deposited, all of the Seller&#146;s Shares under the Offer no later than the fifth (5th) business day after the date of commencement of the Offer and thereafter except as may be permitted under this Agreement or applicable law not withdraw or permit the Seller&#146;s Shares to be withdrawn from the Offer. In the event that the Seller subsequently obtains any additional Subject Shares, such Subject Shares shall be deposited under the Offer as soon as practicable after the date such Subject Shares are obtained.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby agrees that neither it nor any person or entity acting on its behalf will withdraw or take any action to withdraw any of the Seller&#146;s Shares deposited under the Offer notwithstanding any statutory rights or other rights under the terms of the Offer or otherwise which it might have, unless this Agreement is terminated in accordance with its terms prior to the take-up and payment of the Seller&#146;s Shares under the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE 2<br> REPRESENTATIONS AND WARRANTIES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Representations and Warranties of the Seller</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Seller hereby represents and warrants to and in favour of the Offeror as follows and acknowledges that the Offeror is relying upon such representations and warranties in connection with the matters contemplated by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Organization</font></i><font size="2" style="font-size:10.0pt;">. It is duly incorporated or formed and validly existing under the laws of its jurisdiction of incorporation or formation.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Authorization, etc</font></i><font size="2" style="font-size:10.0pt;">. It has all necessary power, authority, capacity, consent and right to enter into this Agreement and to carry out each of its obligations under this Agreement. This Agreement has been duly executed and delivered by the Seller and constitutes a legal, valid and binding obligation of the Seller enforceable against it in accordance with its terms; subject, however, to limitations with respect to enforcement imposed by law in connection with bankruptcy or similar proceedings, the equitable power of the courts to stay</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="20903-2-KH-01_PB_3_055328_5335"></a></font></p>
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<!-- ZEQ.=1,SEQ=3,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=574762,FOLIO='3',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 05:55 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">proceedings before them and the execution of judgments and to the extent that equitable remedies such as specific performance and injunction are in the discretion of the court from which they are sought.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Ownership, etc</font></i><font size="2" style="font-size:10.0pt;">. The ordinary business of the Seller includes the management of investment funds for others.&#160; The Seller (or, if applicable, one or more of its direct or indirect subsidiaries or one of its affiliates):</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">is the sole beneficial owner of such Seller&#146;s Shares,&#160; or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">holds such Seller&#146;s Shares on behalf of beneficial owners pursuant to terms whereby the Seller has full discretion to make investment decisions and to trade in the Seller&#146;s Shares on behalf of and for the account of such beneficial owner without requiring such beneficial owner&#146;s consent, and such terms grant to the Seller voting and dispositive power over such Seller&#146;s Shares in the ordinary course of the performance of the Seller&#146;s duties relating to such accounts (a &#147;<b>Fully Managed Account</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The total number of Subject Shares beneficially owned by, or over which control and direction is held, by the Seller or held in one or more Fully Managed Accounts is set forth in Schedule A hereto. The Seller has the sole and exclusive right (either on its own behalf or pursuant to the terms of any Fully Managed Accounts) to dispose of such Seller&#146;s Shares as provided in this Agreement and to vote all such Seller&#146;s Shares, and the Seller is not a party to, bound or affected by or subject to any contractual arrangements, law or regulation of which a breach would occur as a result of the execution and delivery of this Agreement or the consummation of any of the transactions provided for in this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Good Title</font></i><font size="2" style="font-size:10.0pt;">. The Seller&#146;s Shares to be acquired by the Offeror directly or indirectly from the Seller pursuant to the Offer will be acquired with good and marketable title, free and clear of any and all mortgages, liens, charges, restrictions, security interests, adverse claims, pledges, encumbrances and demands or rights of others of any nature or kind whatsoever, and such Seller&#146;s Shares are not subject to any shareholders&#146; agreement, voting trust or similar agreement or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming a shareholders&#146; agreement, voting trust or other agreement affecting the Seller&#146;s Shares or the ability of such holder thereof to exercise ownership rights thereto, including the voting of any such Subject Shares. No approval of the securityholders of the Seller is or will be required in order to sell the Seller&#146;s Shares to the Offeror.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">No Agreements</font></i><font size="2" style="font-size:10.0pt;">. No person, firm, body corporate or other entity whatsoever has any agreement or option, or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option, for the purchase, requisition or transfer from the Seller, or any registered holder of the Seller&#146;s Shares, of any of the Seller&#146;s Shares, or any interest therein or right thereto, except pursuant to this Agreement. There does not exist any agreement, understanding or commitment giving rise to any obligations, financial or otherwise, on the part of Rockgate or any of its subsidiaries or affiliates to the Seller, or any subsidiaries or affiliates of the Seller as applicable.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="20903-2-KH-01_PB_4_055344_5796"></a></font></p>
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<!-- ZEQ.=1,SEQ=4,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=949622,FOLIO='4',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 05:55 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">No Proceeding Pending</font></i><font size="2" style="font-size:10.0pt;">. There is no claim, action, lawsuit, arbitration, mediation or other proceeding pending or threatened against the Seller (or its subsidiaries or affiliates), which relates to this Agreement or otherwise materially impairs or could materially impair the ability of the Seller to consummate the transactions contemplated hereby.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Consents.</font></i><font size="2" style="font-size:10.0pt;"> To the best of the Seller&#146;s knowledge, there is no requirement of the Seller to make any filing with, give any notice to, or obtain any permit, licence, sanction, ruling, order, exemption or consent, approval or waiver of, any governmental authority or other person (including the lapse, without objection, of a prescribed time under applicable law that states that a transaction may be implemented if a prescribed time lapses following the giving of notice) as a condition to the lawful completion of the transactions contemplated by this Agreement or the Offer, or the execution and delivery by the Seller and enforcement against the Seller of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Non-Contravention</font></i><font size="2" style="font-size:10.0pt;">. This Agreement does not (or would not with the giving of notice, the lapse of time or the happening of any other event or condition) result in a breach or a violation of, or conflict with in any material manner, or allow any other person to exercise any rights under any of the terms or provisions of the constating documents and/or by-laws of the Seller (or of any of its subsidiaries or affiliates which is the legal or beneficial owner of the Seller&#146;s Shares) or any agreement, contract or indenture to which the Seller is a party or by which the Seller&#146;s property is bound (as applicable), and will not result in the violation of any law or regulation.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Not Joint Actors</font></i><font size="2" style="font-size:10.0pt;">. The Seller is not acting jointly or in concert with the Offeror in respect of the Offer and the entry into this Agreement was a condition imposed by the Offeror to proceeding with the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Lack of Knowledge and Representation</font></i><font size="2" style="font-size:10.0pt;">. Neither the Seller nor any joint actor with the Seller (including its subsidiaries and affiliates) has, or has had within the twelve (12) months preceding the date of this Agreement, any board or management representation in respect of Rockgate, or has knowledge of any material information concerning Rockgate or its securities that has not been generally disclosed.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The representations, warranties and covenants of the Seller set forth in this Section 2.1 shall survive the completion of the sale and purchase of the Seller&#146;s Shares under the Offer and, notwithstanding such completion, will continue in full force and effect for the benefit of the Offeror for a period of one (1) year from the date thereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Representations and Warranties of Offeror</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offeror represents and warrants to and in favour of the Seller as follows and acknowledges that the Seller is relying upon such representations and warranties in connection with the matters contemplated by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Organization</font></i><font size="2" style="font-size:10.0pt;">. Offeror is a corporation duly incorporated and validly existing under the laws of its jurisdiction of incorporation.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="20903-2-KH-01_PB_5_055359_2897"></a></font></p>
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<!-- ZEQ.=1,SEQ=5,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=122770,FOLIO='5',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 05:55 2013' -->

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<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Authorization, etc</font></i><font size="2" style="font-size:10.0pt;">. Offeror has all necessary power, authority, capacity, consent and right to enter into this Agreement and to carry out its obligations under this Agreement. This Agreement has been duly executed and delivered by Offeror and constitutes a legal, valid and binding obligation of Offeror enforceable against it in accordance with its terms; subject, however, to limitations with respect to enforcement imposed by law in connection with bankruptcy or similar proceedings, the equitable power of the courts to stay proceedings before them and the execution of judgments and to the extent that equitable remedies such as specific performance and injunction are in the discretion of the court from which they are sought.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Non-Contravention</font></i><font size="2" style="font-size:10.0pt;">. This Agreement does not (or would not with the giving of notice, the lapse of time or the happening of any other event or condition) result in a breach or a violation of, or conflict with in any material manner, or allow any other person to exercise any rights under any of the terms or provisions of the constating documents and/or by-laws of Offeror or any agreement, contract or indenture to which Offeror is a party or by which its&#160; property is bound (as applicable), and will not result in the violation of any law or regulation by Offeror.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Not Joint Actors</font></i><font size="2" style="font-size:10.0pt;">. Offeror is not acting jointly or in concert with the Seller in respect of the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Lack of Knowledge and Representation</font></i><font size="2" style="font-size:10.0pt;">. Neither Offeror nor any joint actor with Offeror (including its subsidiaries and affiliates) has, or has had within the twelve (12) months preceding the date of this Agreement, any board or management representation in respect of Rockgate, or has knowledge of any material information concerning Rockgate or its securities that has not been generally disclosed.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The representations, warranties and covenants of Offeror set forth in this Section 2.2 shall survive the completion of the sale and purchase of the Seller&#146;s Shares under the Offer and, notwithstanding such completion, will continue in full force and effect for the benefit of the Seller for a period of one (1) year from the date thereof.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE 3<br> COVENANTS OF THE SELLER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby covenants and agrees that it shall not, from the date hereof until the earlier of: (I) the termination of this Agreement pursuant to Article 5; and (II) the date and time the Offer, as it may be extended by the Offeror from time to time, expires (the &#147;<b>Expiry Time</b>&#148;), except in accordance with the terms of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">grant or agree to grant any proxy or other right to the Subject Shares, or enter into any voting trust or pooling agreement or arrangement or enter into or subject any of such Subject Shares to any other agreement, arrangement, understanding or commitment, formal or informal, with respect to or relating to the voting thereof;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">directly or indirectly, through any officer, director, employee, advisor, representative, agent or otherwise (as applicable), make, solicit, assist, initiate, encourage, or otherwise facilitate any inquiries, the submission of proposals or</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="20903-2-KH-01_PB_6_055409_3020"></a></font></p>
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<!-- ZEQ.=1,SEQ=6,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=7501,FOLIO='6',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 05:55 2013' -->

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<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">offers from any other person, body corporate, partnership or other business organization whatsoever regarding a potential competing or superior proposal for the acquisition of the Subject Shares (whether by way of take-over bid, asset sale, merger, amalgamation, arrangement, reorganization or other business combination) (a &#147;<b>Competing Bid</b>&#148;), participate in any material discussions or negotiations regarding any Competing Bid, or otherwise cooperate in any way with, or assist or participate in, knowingly facilitate or encourage, any effort or attempt by any other person to do or seek to do any of the foregoing, including by depositing or voting any of the Seller&#146;s Shares in favour of any such Competing Bid;</font></p>
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<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">option, sell, transfer, dispose of, pledge, encumber, grant a security interest in or otherwise convey any Subject Shares or any right or interest therein, or agree to do any of the foregoing except pursuant to the Offer;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">acquire any additional number of Subject Shares or securities convertible into or exchangeable for Subject Shares, except as permitted by law;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">except as required by applicable law prior to the public announcement of the Offer, directly or indirectly, disclose to any person, firm or corporation the existence of the terms and conditions of this Agreement, or any terms or conditions or other information concerning the Offer; or</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">take any action to encourage or assist any other person to do any of the prohibited acts referred to in foregoing provisions of this Subsection 3.1, provided that affiliates of the Seller may acquire additional common shares of Rockgate if the market price for such shares is materially lower than the price implied by the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby covenants and agrees that it shall, from the date hereof until the earlier of (I) the termination of this Agreement pursuant to Article 5, and (II) the Expiry Time, except in accordance with the terms of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">immediately cease any existing discussions or negotiations it is engaged in with any parties (other than the Offeror) with respect to any Competing Bid; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">use its reasonable commercial efforts to assist the Offeror to successfully complete the Offer and any subsequent acquisition transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in addition to granting to the Offeror one or more of the forms of proxy contemplated by Subsections 3.4, 6.2(d) and 6.2(e) below, exercise the voting rights attaching to the Seller&#146;s Shares to oppose any proposed action by Rockgate, its directors, officers and/or shareholders, any of its subsidiaries or any other person:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in respect of any amalgamation, merger, sale of Rockgate&#146;s or its affiliates&#146; or associates&#146; assets, take-over bid, issuer bid, plan of arrangement, reorganization, recapitalization, issuance of shares, equity or voting securities or convertible or exchangeable securities or other business combination or similar transaction involving Rockgate or any of its subsidiaries other than the Offer;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="20903-2-KH-01_PB_7_055428_7748"></a></font></p>
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<!-- ZEQ.=1,SEQ=7,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=373739,FOLIO='7',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 05:55 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">which would reasonably be regarded as being directed towards or likely to prevent or delay the take-up and payment of the Seller&#146;s Shares deposited under the Offer or the successful completion of the Offer, including without limitation any amendment to the constating documents of Rockgate, its subsidiaries or its organizational structure;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in respect of any new shareholder rights plan or &#147;poison pill&#148; subsequent to the date of this Agreement; or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">which would reasonably be expected to result in a material adverse effect in respect of Rockgate;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">promptly notify and provide to the Offeror a copy of any Competing Bid or proposal or document related thereto provided to the Seller, or any amendments to the foregoing; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">deposit and not withdraw all of the Seller&#146;s Shares, together with a duly completed and executed letter of transmittal or notice of guaranteed delivery (or take all actions to cause the Seller&#146;s Shares to be electronically deposited through the CDSX system), with the depositary specified in the take over bid circular setting out the terms of the Offer (the &#147;<b>Circular</b>&#148;) in accordance with all of the terms thereof and all of the terms of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller covenants to co-operate with the Offeror in making all requisite regulatory filings in respect of the Offer.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller will within two days after the execution and delivery of this Agreement by Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Seller Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares in respect of the shareholders meeting of Rockgate scheduled to be held on September 25, 2013 (along with any adjourned or rescheduled or postponed meeting) regarding the proposed plan of arrangement contemplated by that certain arrangement agreement dated August 13, 2013 between Rockgate and Mega Uranium Ltd. (&#147;<b>Mega</b>&#148;), directing the Seller Proxyholder to vote against any resolution approving such plan of arrangement or related matter.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.5</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller shall use its commercially reasonable best efforts to recommend to its clients who may hold Subject Shares in accounts other than Fully Managed Accounts (which for greater certainty the Seller does not beneficially own nor exercise control or direction over) that such clients tender all Subject Shares held by such clients to the Offer and exercise the voting rights attached to such Subject Shares to vote against or otherwise reject the proposed plan of arrangement transaction (and any revision or amendment thereto) between Rockgate and Mega.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="20903-2-KH-01_PB_8_055444_141"></a></font></p>
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<!-- ZEQ.=1,SEQ=8,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=430963,FOLIO='8',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 05:55 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE 4<br> COVENANTS OF THE OFFEROR</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offeror hereby covenants and agrees that, unless the Seller shall otherwise agree in writing or as otherwise expressly contemplated or permitted by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">subject to the terms and conditions of the Offer, Offeror shall take up the Seller&#146;s Shares deposited under the Offer and pay for such Seller&#146;s Shares as set forth in the Circular; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Offeror shall use all reasonable commercial efforts, including co-operating with the Seller, to make all requisite regulatory filings in order to obtain all requisite regulatory approvals required to effect and complete the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offeror further covenants and agrees that all Offeror Common Shares issuable to the Seller as consideration under the Offer shall be authorized for issuance and shall be duly and validly issued shares of the common stock of the Offeror.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE 5<br> TERMINATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Termination</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may be terminated by notice in writing as follows:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">at any time by mutual consent of the Seller and the Offeror;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, if the Offer is not commenced within the time contemplated by Subsection 1.1(b) or if the Offer has been terminated or withdrawn;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, provided the Seller is not in breach of any of its obligations hereunder, if the Offeror has not taken up and paid for Subject Shares deposited under the Offer within one hundred and twenty (120) days after the date of the Offer; provided, however, that if the Offeror&#146;s take up and payment for Subject Shares deposited under the Offer is delayed by an injunction or order made by a court or regulatory authority of competent jurisdiction, then provided that such injunction or order is being contested or appealed or such regulatory waiver, consent or approval being actively sought, as applicable, this Agreement shall not be terminated by the Seller pursuant to this Section 4.1(c) until the earlier of (i) one hundred and eighty (180) days after the date the Offer is commenced, and (ii) the 10th business day following the date on which such injunction or order ceases to be in effect or such waiver, consent or approval or declaration of effectiveness is obtained, as applicable;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, when not in material default in its performance of its obligations hereunder, at any time if the Offer is modified in a manner contrary to the terms of this Agreement or contrary to the provisions of applicable securities legislation;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by either the Seller or the Offeror, when not in material default in its performance of its obligations hereunder, if the other party has not complied with its covenants contained herein in all material respects;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="20903-2-KH-03_PB_9_055552_7608"></a></font></p>
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<!-- ZEQ.=1,SEQ=9,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=700083,FOLIO='9',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:16 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by either the Seller or the Offeror, when not in material default in the performance of its obligations hereunder, if any of the representations and warranties of the other party contained herein is untrue or inaccurate in any material respect; or</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Offeror, if any Condition is not satisfied at the Expiry Time of the Offer and the Offeror has not elected to waive such condition.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE 6<br> ALTERNATIVE FORM OF TRANSACTION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Alternative Form of Transaction</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Offeror determines that it is necessary or desirable to proceed with another form of transaction, including a plan of arrangement or similar transaction, whereby the Offeror would acquire following completion of such Alternative Transaction all or substantially all of the Subject Shares outstanding or all or substantially all of the assets of Rockgate and its subsidiaries and that (a) provides for economic terms which, in relation to the Seller, on an after-tax basis, are at least equivalent to or better than those contemplated by the Offer, (b) would not result in a delay or time to completion materially longer than contemplated pursuant to the Offer, and (c) is otherwise on terms and conditions no more onerous on the Seller than the Offer (an &#147;<b>Alternative Transaction</b>&#148;), then the Seller shall support the completion of such Alternative Transaction.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Rockgate Shareholder Meeting</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If any Alternative Transaction involves a meeting or meetings of Rockgate&#146;s shareholders (the &#147;<b>Rockgate Alternative Transaction Meeting</b>&#148;), the Seller shall vote in favour of any matters necessary or ancillary to the completion of the Alternative Transaction and shall vote against any resolution the subject matter or effect of which would be to prevent, hinder, delay or frustrate such Alternative Transaction. In the event of any proposed Alternative Transaction, the references in this Agreement to the Offer shall be deemed to be changed to &#147;Alternative Transaction&#148; and all provisions of this Agreement shall be and shall be deemed to have been made in the context of the Alternative Transaction. Without restriction, the Seller:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall attend (either in person or by proxy) the Rockgate Alternative Transaction Meeting (including, for greater certainty, any adjourned, postponed or rescheduled meeting), and at such meeting, vote or cause to be voted all of the Seller&#146;s Shares, (including Seller&#146;s Shares acquired by the Seller on or following the date hereof and prior to the record date for voting at such meeting) that are beneficially owned by, or over which control or direction is exercised by, the Seller and which are entitled to be voted at such meeting in favour of any resolution approving the Alternative Transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall vote or cause to be voted (in person or by proxy) any Seller&#146;s Shares against, and not tender or cause to be tendered any Subject Securities to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any corporate transaction, such as a merger, amalgamation, arrangement, rights offering, reorganization, recapitalization or liquidation or take-over bid or similar transaction involving the Rockgate or the Subject Shares other than the Alternative Transaction;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="20903-2-KH-03_PB_10_055607_8146"></a></font></p>
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<!-- ZEQ.=1,SEQ=10,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=73880,FOLIO='10',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:16 2013' -->

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<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any proposed sale or transfer of a material amount of assets of Rockgate or any of its subsidiaries or the issuance of any securities of Rockgate; or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any action that is reasonably likely to impede, interfere with, delay, postpone, or adversely affect in any material respect the Alternative Transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall not, except as required pursuant to this Agreement, grant or agree to grant any proxy or other right to vote the Seller&#146;s Shares or enter into any voting trust or pooling agreement or arrangement or enter into or subject any of the Seller&#146;s Shares to any other agreement, arrangement, understanding or commitment, formal or informal, with respect to or relating to the voting or tendering thereof or revoke any proxy granted pursuant to this Agreement;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall upon the request of Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Alternative Transaction Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares in respect of any Rockgate Alternative Transaction Meeting, directing the Alternative Transaction Proxyholder to vote for any resolution approving such Alternative Transaction or related matter; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall upon the request of Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Non Approved Transaction Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares directing the Non Approved Transaction Proxyholder to vote against any resolution approving any transaction of the nature contemplated by Subsection 6.2(b) above.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE 7<br> GENERAL PROVISIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Headings, etc.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The division of this Agreement into Articles and sections and the insertion of headings are for convenient reference only and do not affect its interpretation.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">References to Shares</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">References to &#147;Shares&#148; or &#147;Subject Shares&#148; (including the &#147;Seller&#146;s Shares&#148;) include any shares or securities into which the Subject Shares of Rockgate may be reclassified, subdivided, consolidated or converted and any rights and benefits arising therefrom, including any distributions of securities which may be declared in respect of the Subject Shares, and references to per share offer consideration shall be subject to equitable adjustment to reflect any such change to the capitalization of Rockgate.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="20903-2-KH-03_PB_11_055622_7091"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Further Assurances</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Offeror and the Seller shall from time to time execute and deliver all such further documents and instruments and do all such acts and things as the other party may, either before or after the expiry of the Offer, reasonably require to effectively carry out or better evidence or perfect the full intent and meaning of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Effect of Termination</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If this Agreement is terminated as provided for in Article 5, there shall be no liability or further obligation, on the part of any party hereto; provided that nothing in this Section 7.4 shall release the parties to this Agreement of liability for breach of any representation, warranty or covenant of this Agreement occurring prior to the termination hereof. Upon termination of this Agreement, the Seller shall be entitled to withdraw any of its Seller&#146;s Shares deposited under the Offer.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.5</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Time of the Essence.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Time shall be of the essence of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.6</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Fees</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each party hereto shall pay the fees, costs and expenses of their respective financial, legal, auditing and other professional and other advisors incurred in connection with the preparation, execution and delivery of this Agreement and all documents and instruments executed or prepared pursuant hereto and any other costs and expenses whatsoever and howsoever incurred and shall indemnify each of the other parties from and against any and all claims against any of them for &#147;finder&#146;s&#148; or &#147;agency&#148; fees relating to the transactions contemplated hereby.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.7</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Public Announcements and Filings</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as required by law or applicable stock exchange requirements, the Seller shall not make any public announcement or statement with respect to the Offer or this Agreement without the prior approval of the Offeror. Moreover, in any event, the Seller agrees to provide prior notice to the Offeror of any public announcement relating to the Offer or this Agreement and agrees to consult with the Offeror prior to issuing such public announcement. The Seller hereby expressly consents to the Offeror disclosing the existence of this Agreement in any press release or other public disclosure document and acknowledges that a copy of this Agreement shall be filed on SEDAR on or following the date hereof. The Seller hereby expressly acknowledges and agrees that a summary of this Agreement and the negotiations leading to its execution and delivery may appear in, and a copy of this Agreement may be appended as an exhibit to, the Notwithstanding the foregoing, any disclosure that contains a reference, directly or indirectly, to the Seller shall, to the extent practicable in the circumstances, be subject to the prior review and approval of the Seller, not to be unreasonably withheld or delayed.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.8</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Specific Performance and other Equitable Rights</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Seller recognizes and acknowledges that this Agreement is an integral part of the transactions contemplated in the Offer and that the Offeror would not contemplate</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="20903-2-KH-03_PB_12_055637_455"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">making the Offer unless this Agreement was executed, and that a breach by the Seller of any covenants or other commitments or obligations contained in the Agreement will cause the Offeror to sustain injury for which it would not have an adequate remedy at Law for money damages. Therefore, each of the parties hereto agrees that, in the event of such breach, the Offeror shall be entitled to the remedy of specific performance of such obligation and preliminary and permanent injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at law or in equity, and the Seller further agrees to waive any requirement for the security or posting of any bond in connection with the obtaining of any such injunctive or other equitable relief. Such remedies will not be exclusive remedies for any breach of this Agreement but will be in addition to any other remedy to which the Offeror may be entitled, at law or in equity.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.9</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Benefit of the Agreement</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement shall enure to the benefit of and be binding upon the respective successors and permitted assigns of the parties hereto.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.10</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Assignment</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may not be assigned by any party without the prior written consent of the other party, provided, however, that the Offeror may assign its respective obligations under this Agreement to an affiliate of the Offeror provided that the Offeror shall continue to be liable for any breach of or default in performance by the assignee of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.11</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Entire Agreement</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes all prior negotiations, investigations and agreements relating to the subject matter hereof. There are no warranties, representations, understandings or agreements between the parties in connection with the subject matter hereof except as specifically set forth or referred to in this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.12</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Amendments and Waiver</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No modification of or amendment to this Agreement shall be valid or binding unless set forth in writing and duly executed by each of the parties hereto and no waiver of any breach of any term or provision of this Agreement shall be effective or binding unless made in writing and signed by the party purporting to give the same and, unless otherwise provided, shall be limited to the specific breach waived.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="20903-2-KH-03_PB_13_055646_4141"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.13</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notices</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any demand, notice or other communication to be given in connection with this Agreement must be given in writing and may be given by personal delivery or by facsimile or other electronic means of communication addressed to the recipient as follows:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if to the Seller:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sprott Asset Management USA Inc.<br> 1910 Palomar Point Way<br> Suite 200<br> Carlsbad, California 92008</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Gretchen Carter <br> Facsimile:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">760-683.6752</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if to the Offeror or the Offeror:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.<br> Suite 2000<br> 885 West Georgia Street </font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vancouver, British Columbia<br> V6C 3E8</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Ron Hochstein<br> Facsimile:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">604.689.4250</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with a copy to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cassels Brock &amp; Blackwell LLP<br> Suite 2200<br> 885 West Georgia Street<br> Vancouver, British Columbia <br> V6C 3E8</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Gordon R. Chambers<br> Facsimile:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">604.691.6120</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or to such other address, facsimile number or email address as may be designated by notice given by any party to the other. If any notice or other communication shall be given by personal delivery, a copy of such notice or communication shall also be given by facsimile. Any demand, notice or other communication given by personal delivery shall be conclusively deemed to have been given on the date of actual delivery thereof and, if given by facsimile or other means of electronic communication, on the date of transmittal thereof if given prior to 5:00 P.M. (Toronto time) and on the next business day if not given prior to 5:00 P.M. (Toronto time).</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.14</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Interpretation</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In this Agreement words importing the singular shall include the plural and vice versa, words importing any gender include all genders and the word person includes individuals, partnerships, associations, trusts, foundations, unincorporated organizations, limited liability companies and corporations. The inclusion of headings in this Agreement</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="20903-2-KH-03_PB_14_055734_8627"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- ZEQ.=1,SEQ=14,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=693811,FOLIO='14',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:16 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is for convenience of reference only and shall not affect the construction or interpretation hereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.15</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Severability</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is intended that all provisions of this Agreement shall be fully binding and effective between the parties, but in the event that any particular provision or provisions or a part of one is found to be void, voidable or unenforceable for any reason whatever, then the particular provision or provisions shall be deemed severed from the remainder of this Agreement and all other provisions shall remain in full force.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.16</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Governing Law</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement and the rights and obligations of the parties hereto shall be governed in all respects, including validity, interpretation and effect, exclusively by the laws of the Province of Ontario and the laws of Canada applicable therein without giving effect to the principles of conflict of laws and each of the Offeror and Seller irrevocably submits to the jurisdiction of the courts of the Province of Ontario.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.17</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Counterparts</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original and all of which taken together will be deemed to constitute one and the same instrument. Delivery of an executed signature page to this Agreement by any party by electronic transmission will be as effective as delivery of a manually executed copy of the Agreement by such party.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.18</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Effectiveness</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement shall not become binding on either Offeror or Seller unless and until this Agreement has been executed by Offeror and delivered by Offeror to Seller.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF the parties hereto have hereunto executed this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SPROTT ASSET MANAGEMENT USA INC.</font></b></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) &#147;[<i>signature not legible</i>]&#148;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signatory</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executed by Offeror and delivered to Seller this 18th day of   September, 2013</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DENISON MINES CORP.</font></b></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) &#147;<i>Ron F. Hochstein</i>&#148;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="padding:0in 0in 0in 0in;width:44.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized   Signatory</font></p>    </td>
<td width="51%" valign="top" style="padding:0in 0in 0in 0in;width:51.02%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="20903-2-KH-03_PB_15_055853_7906"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
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<!-- ZEQ.=1,SEQ=15,EFW="2216722",CP="DENISON MINES CORPORATION",DN="8",CHK=202702,FOLIO='15',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KH-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:16 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Schedule A</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Seller&#146;s Shares</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Common   Shares:</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">758,800</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="30%" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of   Options:</font></p>    </td>
<td width="69%" valign="top" style="padding:0in 0in 0in 0in;width:69.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nil</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of   Warrants:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ni</font></p>    </td>   </tr>  </table>
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<TYPE>EX-2.8
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<DESCRIPTION>EX-2.8
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.8</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LOCK-UP AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS AGREEMENT</font></b><font size="2" style="font-size:10.0pt;"> dated for reference the 18th day of September, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMONG:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp., a corporation incorporated under the laws of Ontario</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;<b>Offeror</b>&#148;)</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AND</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Resource Capital Investment Corp., General Partner, a corporation incorporated under the laws of Nevada</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;<b>Seller</b>&#148;)</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">this Lock-Up Agreement (the &#147;<b>Agreement</b>&#148;) sets out the terms and conditions upon which the Offeror, either directly or at its sole discretion through a wholly-owned subsidiary, will make an offer (the &#147;<b>Offer</b>&#148;) to purchase all of the issued and outstanding common shares (the &#147;<b>Subject Shares</b>&#148;) of Rockgate Capital Corp. (&#147;<b>Rockgate</b>&#148;), including any Subject Shares that may become outstanding after the date of the Offer but before the expiry time of the Offer upon the conversion, exchange or exercise of securities of Rockgate or any of its subsidiaries;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">this Agreement sets out the terms and conditions of the agreement of the Seller to deposit or cause to be deposited under the Offer: (i)&nbsp;the number of Subject Shares set forth in Schedule A hereto, representing all of the Subject Shares presently owned legally or beneficially by such Seller (including Subject Shares owned legally or beneficially by any subsidiary or affiliate of the Seller), or over which the Seller exercises control or direction, and (ii)&nbsp;all Subject Shares subsequently acquired by the Seller (all of such Subject Shares of the Seller are hereinafter collectively referred to as the &#147;<b>Seller&#146;s Shares</b>&#148;), and sets out the obligations and commitments of the Seller in connection therewith;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Seller acknowledges that the Offeror would not commence the Offer but for the execution and delivery of this Agreement by the Seller;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Offeror wishes to acquire all of the Seller&#146;s Shares upon and subject to the terms and conditions hereinafter set forth; and</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Seller wishes to sell all of the Seller&#146;s Shares to the Offeror upon and subject to the terms and conditions hereinafter set forth;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW THEREFORE, </font></b><font size="2" style="font-size:10.0pt;">in consideration of the Offeror agreeing to initiate and make the Offer, and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereby agree as follows:</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<!-- ZEQ.=1,SEQ=1,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=450343,FOLIO='',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;1<br> THE OFFER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Offer</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to the terms of this Agreement, the Offeror hereby covenants and agrees to make the Offer. The Offer will contain customary conditions for a take-over bid, including, without limitation: 90% minimum tender condition (the &#147;<b>Minimum Tender Condition</b>&#148;); the waiver or termination of all rights under any shareholder rights plan(s), by regulatory order or otherwise, to Denison&#146;s satisfaction; Rockgate not having implemented or approved any issuance of shares or other securities or any other transaction, capital expenditure or distribution to its shareholders outside the ordinary course of business; there being no change in the business, operations or assets of Rockgate that constitutes a material adverse effect in respect of&nbsp;Rockgate;&#160; and absence of material misstatements by Rockgate in its public disclosure documents (collectively, the &#147;<b>Conditions</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The terms of the Offer shall include any amendments or variations to, or extensions of, such Offer, including, without limitation, removing or waiving any Condition or extending the date by which the Subject Shares may be deposited. The Offer will be made to the holders of all of the Subject Shares in consideration for 0.192 Offeror Common Share for each Subject Share.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Subsection 1.1(e)&nbsp;below, the Offeror shall commence the Offer by notice as soon as practicable and in any event no later than 11:59&nbsp;p.m. (Toronto time) on September&nbsp;20, 2013.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Offer will be made in accordance with applicable securities laws and shall expire no earlier than 4:00&nbsp;p.m. (Toronto time) on the thirty-sixth (36th) day after the day that the Offer is commenced, subject to the right of the Offeror to extend the period of time during which the Subject Shares may be deposited under the Offer (as it may be extended, the &#147;<b>Expiry Time</b>&#148;). The Offer will not be subject to any conditions other than the Conditions.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller acknowledges and agrees that the Offeror may, in its sole and absolute discretion, amend, supplement, modify or waive any term or Condition of the Offer in whole or in part, provided that the Seller will be released from its obligations hereunder if the Offeror, without the consent of the Seller: (i)&nbsp;decreases the consideration per Subject Share, as specified in this Section&nbsp;1.1, (ii)&nbsp;changes the form of consideration payable under the Offer (other than to add additional consideration or the option of Rockgate&#146;s shareholders to choose one or more alternative forms of consideration in addition to the form of consideration herein specified), or (iii)&nbsp;otherwise amends or varies the terms and Conditions of the Offer in a manner adverse to the Seller. If the Offeror increases the consideration payable under the Offer prior to the expiry of the Offer, the Seller shall be entitled to such increased consideration in respect of its Subject Shares that are taken up by the Offeror, as required by applicable securities laws.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligation of the Offeror to make the Offer is conditional on the prior satisfaction of the following conditions, all of which conditions are included for the sole benefit of the Offeror and any or all of which may be waived by the Offeror in</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KN-01_PB_2_054557_7056"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">whole or in part in its sole discretion without prejudice to any other rights it may have under this Agreement or otherwise:</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">no circumstance, fact, change, event or occurrence shall have occurred that would render it impossible for the Offer to be consummated absent a waiver of or modification to one or more of the Conditions;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">no cease trade order, injunction or other prohibition at law shall exist against the Offeror making the Offer or taking up and paying for Subject Shares deposited under the Offer; and</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Offeror shall have determined in its sole discretion that no material adverse change shall have occurred with respect to either the Offeror or Rockgate.</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Deposit by Seller</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Subsection 1.2(b)&nbsp;below, the Seller agrees to deposit or cause to be deposited, all of the Seller&#146;s Shares under the Offer no later than the fifth (5th) business day after the date of commencement of the Offer and thereafter except as may be permitted under this Agreement or applicable law not withdraw or permit the Seller&#146;s Shares to be withdrawn from the Offer. In the event that the Seller subsequently obtains any additional Subject Shares, such Subject Shares shall be deposited under the Offer as soon as practicable after the date such Subject Shares are obtained.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby agrees that neither it nor any person or entity acting on its behalf will withdraw or take any action to withdraw any of the Seller&#146;s Shares deposited under the Offer notwithstanding any statutory rights or other rights under the terms of the Offer or otherwise which it might have, unless this Agreement is terminated in accordance with its terms prior to the take-up and payment of the Seller&#146;s Shares under the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;2<br> REPRESENTATIONS AND WARRANTIES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Representations and Warranties of the Seller</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Seller hereby represents and warrants to and in favour of the Offeror as follows and acknowledges that the Offeror is relying upon such representations and warranties in connection with the matters contemplated by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Organization</font></i><font size="2" style="font-size:10.0pt;">. It is duly incorporated or formed and validly existing under the laws of its jurisdiction of incorporation or formation.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Authorization,&nbsp;etc</font></i><font size="2" style="font-size:10.0pt;">. It has all necessary power, authority, capacity, consent and right to enter into this Agreement and to carry out each of its obligations under this Agreement. This Agreement has been duly executed and delivered by the Seller and constitutes a legal, valid and binding obligation of the Seller enforceable against it in accordance with its terms; subject, however, to limitations with respect to enforcement imposed by law in connection with bankruptcy or similar proceedings, the equitable power of the courts to stay</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="20903-2-KN-01_PB_3_054642_5335"></a></font></p>
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<!-- ZEQ.=1,SEQ=3,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=399324,FOLIO='3',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">proceedings before them and the execution of judgments and to the extent that equitable remedies such as specific performance and injunction are in the discretion of the court from which they are sought.</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Ownership,&nbsp;etc</font></i><font size="2" style="font-size:10.0pt;">. The ordinary business of the Seller includes the management of investment funds for others.&#160; The Seller (or, if applicable, one or more of its direct or indirect subsidiaries or one of its affiliates):</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">is the sole beneficial owner of such Seller&#146;s Shares, or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">holds such Seller&#146;s Shares on behalf of beneficial owners pursuant to terms whereby the Seller has full discretion to make investment decisions and to trade in the Seller&#146;s Shares on behalf of and for the account of such beneficial owner without requiring such beneficial owner&#146;s consent, and such terms grant to the Seller voting and dispositive power over such Seller&#146;s Shares in the ordinary course of the performance of the Seller&#146;s duties relating to such accounts (a &#147;<b>Fully Managed Account</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The total number of Subject Shares beneficially owned by, or over which control and direction is held, by the Seller or held in one or more Fully Managed Accounts is set forth in Schedule A hereto. The Seller has the sole and exclusive right (either on its own behalf or pursuant to the terms of any Fully Managed Accounts) to dispose of such Seller&#146;s Shares as provided in this Agreement and to vote all such Seller&#146;s Shares, and the Seller is not a party to, bound or affected by or subject to any contractual arrangements, law or regulation of which a breach would occur as a result of the execution and delivery of this Agreement or the consummation of any of the transactions provided for in this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Good Title</font></i><font size="2" style="font-size:10.0pt;">. The Seller&#146;s Shares to be acquired by the Offeror directly or indirectly from the Seller pursuant to the Offer will be acquired with good and marketable title, free and clear of any and all mortgages, liens, charges, restrictions, security interests, adverse claims, pledges, encumbrances and demands or rights of others of any nature or kind whatsoever, and such Seller&#146;s Shares are not subject to any shareholders&#146; agreement, voting trust or similar agreement or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming a shareholders&#146; agreement, voting trust or other agreement affecting the Seller&#146;s Shares or the ability of such holder thereof to exercise ownership rights thereto, including the voting of any such Subject Shares. No approval of the securityholders of the Seller is or will be required in order to sell the Seller&#146;s Shares to the Offeror.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">No Agreements</font></i><font size="2" style="font-size:10.0pt;">. No person, firm, body corporate or other entity whatsoever has any agreement or option, or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option, for the purchase, requisition or transfer from the Seller, or any registered holder of the Seller&#146;s Shares, of any of the Seller&#146;s Shares, or any interest therein or right thereto, except pursuant to this Agreement. There does not exist any agreement, understanding or commitment giving rise to any obligations, financial or otherwise, on the part of Rockgate or any of its subsidiaries or affiliates to the Seller, or any subsidiaries or affiliates of the Seller as applicable.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="20903-2-KN-01_PB_4_054709_5796"></a></font></p>
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<!-- ZEQ.=1,SEQ=4,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=377572,FOLIO='4',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">No Proceeding Pending</font></i><font size="2" style="font-size:10.0pt;">. There is no claim, action, lawsuit, arbitration, mediation or other proceeding pending or threatened against the Seller (or its subsidiaries or affiliates), which relates to this Agreement or otherwise materially impairs or could materially impair the ability of the Seller to consummate the transactions contemplated hereby.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Consents.</font></i><font size="2" style="font-size:10.0pt;"> To the best of the Seller&#146;s knowledge, there is no requirement of the Seller to make any filing with, give any notice to, or obtain any permit, licence, sanction, ruling, order, exemption or consent, approval or waiver of, any governmental authority or other person (including the lapse, without objection, of a prescribed time under applicable law that states that a transaction may be implemented if a prescribed time lapses following the giving of notice) as a condition to the lawful completion of the transactions contemplated by this Agreement or the Offer, or the execution and delivery by the Seller and enforcement against the Seller of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Non-Contravention</font></i><font size="2" style="font-size:10.0pt;">. This Agreement does not (or would not with the giving of notice, the lapse of time or the happening of any other event or condition) result in a breach or a violation of, or conflict with in any material manner, or allow any other person to exercise any rights under any of the terms or provisions of the constating documents and/or by-laws of the Seller (or of any of its subsidiaries or affiliates which is the legal or beneficial owner of the Seller&#146;s Shares) or any agreement, contract or indenture to which the Seller is a party or by which the Seller&#146;s property is bound (as applicable), and will not result in the violation of any law or regulation.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Not Joint Actors</font></i><font size="2" style="font-size:10.0pt;">. The Seller is not acting jointly or in concert with the Offeror in respect of the Offer and the entry into this Agreement was a condition imposed by the Offeror to proceeding with the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Lack of Knowledge and Representation</font></i><font size="2" style="font-size:10.0pt;">. Neither the Seller nor any joint actor with the Seller (including its subsidiaries and affiliates) has, or has had within the twelve (12) months preceding the date of this Agreement, any board or management representation in respect of Rockgate, or has knowledge of any material information concerning Rockgate or its securities that has not been generally disclosed.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The representations, warranties and covenants of the Seller set forth in this Section&nbsp;2.1 shall survive the completion of the sale and purchase of the Seller&#146;s Shares under the Offer and, notwithstanding such completion, will continue in full force and effect for the benefit of the Offeror for a period of one (1)&nbsp;year from the date thereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Representations and Warranties of Offeror</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offeror represents and warrants to and in favour of the Seller as follows and acknowledges that the Seller is relying upon such representations and warranties in connection with the matters contemplated by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Organization</font></i><font size="2" style="font-size:10.0pt;">. Offeror is a corporation duly incorporated and validly existing under the laws of its jurisdiction of incorporation.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="20903-2-KN-01_PB_5_054737_2897"></a></font></p>
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<!-- ZEQ.=1,SEQ=5,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=20418,FOLIO='5',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Authorization,&nbsp;etc</font></i><font size="2" style="font-size:10.0pt;">. Offeror has all necessary power, authority, capacity, consent and right to enter into this Agreement and to carry out its obligations under this Agreement. This Agreement has been duly executed and delivered by Offeror and constitutes a legal, valid and binding obligation of Offeror enforceable against it in accordance with its terms; subject, however, to limitations with respect to enforcement imposed by law in connection with bankruptcy or similar proceedings, the equitable power of the courts to stay proceedings before them and the execution of judgments and to the extent that equitable remedies such as specific performance and injunction are in the discretion of the court from which they are sought.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Non-Contravention</font></i><font size="2" style="font-size:10.0pt;">. This Agreement does not (or would not with the giving of notice, the lapse of time or the happening of any other event or condition) result in a breach or a violation of, or conflict with in any material manner, or allow any other person to exercise any rights under any of the terms or provisions of the constating documents and/or by-laws of Offeror or any agreement, contract or indenture to which Offeror is a party or by which its&#160; property is bound (as applicable), and will not result in the violation of any law or regulation by Offeror.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Not Joint Actors</font></i><font size="2" style="font-size:10.0pt;">. Offeror is not acting jointly or in concert with the Seller in respect of the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Lack of Knowledge and Representation</font></i><font size="2" style="font-size:10.0pt;">. Neither Offeror nor any joint actor with Offeror (including its subsidiaries and affiliates) has, or has had within the twelve (12) months preceding the date of this Agreement, any board or management representation in respect of Rockgate, or has knowledge of any material information concerning Rockgate or its securities that has not been generally disclosed.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The representations, warranties and covenants of Offeror set forth in this Section&nbsp;2.2 shall survive the completion of the sale and purchase of the Seller&#146;s Shares under the Offer and, notwithstanding such completion, will continue in full force and effect for the benefit of the Seller for a period of one (1)&nbsp;year from the date thereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;3<br> COVENANTS OF THE SELLER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby covenants and agrees that it shall not, from the date hereof until the earlier of: (I)&nbsp;the termination of this Agreement pursuant to Article&nbsp;5; and (II)&nbsp;the date and time the Offer, as it may be extended by the Offeror from time to time, expires (the &#147;<b>Expiry Time</b>&#148;), except in accordance with the terms of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">grant or agree to grant any proxy or other right to the Subject Shares, or enter into any voting trust or pooling agreement or arrangement or enter into or subject any of such Subject Shares to any other agreement, arrangement, understanding or commitment, formal or informal, with respect to or relating to the voting thereof;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">directly or indirectly, through any officer, director, employee, advisor, representative, agent or otherwise (as applicable), make, solicit, assist, initiate, encourage, or otherwise facilitate any inquiries, the submission of proposals or</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="20903-2-KN-01_PB_6_054804_3020"></a></font></p>
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<!-- ZEQ.=1,SEQ=6,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=579768,FOLIO='6',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">offers from any other person, body corporate, partnership or other business organization whatsoever regarding a potential competing or superior proposal for the acquisition of the Subject Shares (whether by way of take-over bid, asset sale, merger, amalgamation, arrangement, reorganization or other business combination) (a &#147;<b>Competing Bid</b>&#148;), participate in any material discussions or negotiations regarding any Competing Bid, or otherwise cooperate in any way with, or assist or participate in, knowingly facilitate or encourage, any effort or attempt by any other person to do or seek to do any of the foregoing, including by depositing or voting any of the Seller&#146;s Shares in favour of any such Competing Bid;</font></p>
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<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">option, sell, transfer, dispose of, pledge, encumber, grant a security interest in or otherwise convey any Subject Shares or any right or interest therein, or agree to do any of the foregoing except pursuant to the Offer;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">acquire any additional number of Subject Shares or securities convertible into or exchangeable for Subject Shares, except as permitted by law;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">except as required by applicable law prior to the public announcement of the Offer, directly or indirectly, disclose to any person, firm or corporation the existence of the terms and conditions of this Agreement, or any terms or conditions or other information concerning the Offer; or</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">take any action to encourage or assist any other person to do any of the prohibited acts referred to in foregoing provisions of this Subsection 3.1, provided that affiliates of the Seller may acquire additional common shares of Rockgate if the market price for such shares is materially lower than the price implied by the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby covenants and agrees that it shall, from the date hereof until the earlier of (I)&nbsp;the termination of this Agreement pursuant to Article&nbsp;5, and (II)&nbsp;the Expiry Time, except in accordance with the terms of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">immediately cease any existing discussions or negotiations it is engaged in with any parties (other than the Offeror) with respect to any Competing Bid; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">use its reasonable commercial efforts to assist the Offeror to successfully complete the Offer and any subsequent acquisition transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in addition to granting to the Offeror one or more of the forms of proxy contemplated by Subsections 3.4, 6.2(d)&nbsp;and 6.2(e)&nbsp;below, exercise the voting rights attaching to the Seller&#146;s Shares to oppose any proposed action by Rockgate, its directors, officers and/or shareholders, any of its subsidiaries or any other person:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in respect of any amalgamation, merger, sale of Rockgate&#146;s or its affiliates&#146; or associates&#146; assets, take-over bid, issuer bid, plan of arrangement, reorganization, recapitalization, issuance of shares, equity or voting securities or convertible or exchangeable securities or other business combination or similar transaction involving Rockgate or any of its subsidiaries other than the Offer;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="20903-2-KN-01_PB_7_054835_7748"></a></font></p>
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<!-- ZEQ.=1,SEQ=7,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=531250,FOLIO='7',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">which would reasonably be regarded as being directed towards or likely to prevent or delay the take-up and payment of the Seller&#146;s Shares deposited under the Offer or the successful completion of the Offer, including without limitation any amendment to the constating documents of Rockgate, its subsidiaries or its organizational structure;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in respect of any new shareholder rights plan or &#147;poison pill&#148; subsequent to the date of this Agreement; or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">which would reasonably be expected to result in a material adverse effect in respect of Rockgate;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">promptly notify and provide to the Offeror a copy of any Competing Bid or proposal or document related thereto provided to the Seller, or any amendments to the foregoing; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">deposit and not withdraw all of the Seller&#146;s Shares, together with a duly completed and executed letter of transmittal or notice of guaranteed delivery (or take all actions to cause the Seller&#146;s Shares to be electronically deposited through the CDSX system), with the depositary specified in the take over bid circular setting out the terms of the Offer (the &#147;<b>Circular</b>&#148;) in accordance with all of the terms thereof and all of the terms of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller covenants to co-operate with the Offeror in making all requisite regulatory filings in respect of the Offer.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller will within two days after the execution and delivery of this Agreement by Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Seller Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares in respect of the shareholders meeting of Rockgate scheduled to be held on September&nbsp;25, 2013 (along with any adjourned or rescheduled or postponed meeting) regarding the proposed plan of arrangement contemplated by that certain arrangement agreement dated August&nbsp;13, 2013 between Rockgate and Mega Uranium Ltd. (&#147;<b>Mega</b>&#148;), directing the Seller Proxyholder to vote against any resolution approving such plan of arrangement or related matter.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.5</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller shall use its commercially reasonable best efforts to recommend to its clients who may hold Subject Shares in accounts other than Fully Managed Accounts (which for greater certainty the Seller does not beneficially own nor exercise control or direction over) that such clients tender all Subject Shares held by such clients to the Offer and exercise the voting rights attached to such Subject Shares to vote against or otherwise reject the proposed plan of arrangement transaction (and any revision or amendment thereto) between Rockgate and Mega.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="20903-2-KN-01_PB_8_054921_141"></a></font></p>
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<!-- ZEQ.=1,SEQ=8,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=69137,FOLIO='8',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;4<br> COVENANTS OF THE OFFEROR</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offeror hereby covenants and agrees that, unless the Seller shall otherwise agree in writing or as otherwise expressly contemplated or permitted by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">subject to the terms and conditions of the Offer, Offeror shall take up the Seller&#146;s Shares deposited under the Offer and pay for such Seller&#146;s Shares as set forth in the Circular; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Offeror shall use all reasonable commercial efforts, including co-operating with the Seller, to make all requisite regulatory filings in order to obtain all requisite regulatory approvals required to effect and complete the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offeror further covenants and agrees that all Offeror Common Shares issuable to the Seller as consideration under the Offer shall be authorized for issuance and shall be duly and validly issued shares of the common stock of the Offeror.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;5<br> TERMINATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Termination</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may be terminated by notice in writing as follows:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">at any time by mutual consent of the Seller and the Offeror;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, if the Offer is not commenced within the time contemplated by Subsection 1.1(b)&nbsp;or if the Offer has been terminated or withdrawn;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, provided the Seller is not in breach of any of its obligations hereunder, if the Offeror has not taken up and paid for Subject Shares deposited under the Offer within one hundred and twenty (120) days after the date of the Offer; provided, however, that if the Offeror&#146;s take up and payment for Subject Shares deposited under the Offer is delayed by an injunction or order made by a court or regulatory authority of competent jurisdiction, then provided that such injunction or order is being contested or appealed or such regulatory waiver, consent or approval being actively sought, as applicable, this Agreement shall not be terminated by the Seller pursuant to this Section&nbsp;4.1(c)&nbsp;until the earlier of (i)&nbsp;one hundred and eighty (180) days after the date the Offer is commenced, and (ii)&nbsp;the 10th business day following the date on which such injunction or order ceases to be in effect or such waiver, consent or approval or declaration of effectiveness is obtained, as applicable;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, when not in material default in its performance of its obligations hereunder, at any time if the Offer is modified in a manner contrary to the terms of this Agreement or contrary to the provisions of applicable securities legislation;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by either the Seller or the Offeror, when not in material default in its performance of its obligations hereunder, if the other party has not complied with its covenants contained herein in all material respects;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="20903-2-KN-01_PB_9_054947_7608"></a></font></p>
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<!-- ZEQ.=1,SEQ=9,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=772854,FOLIO='9',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by either the Seller or the Offeror, when not in material default in the performance of its obligations hereunder, if any of the representations and warranties of the other party contained herein is untrue or inaccurate in any material respect; or</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Offeror, if any Condition is not satisfied at the Expiry Time of the Offer and the Offeror has not elected to waive such condition.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;6<br> ALTERNATIVE FORM&nbsp;OF TRANSACTION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Alternative Form&nbsp;of Transaction</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Offeror determines that it is necessary or desirable to proceed with another form of transaction, including a plan of arrangement or similar transaction, whereby the Offeror would acquire following completion of such Alternative Transaction all or substantially all of the Subject Shares outstanding or all or substantially all of the assets of Rockgate and its subsidiaries and that (a)&nbsp;provides for economic terms which, in relation to the Seller, on an after-tax basis, are at least equivalent to or better than those contemplated by the Offer, (b)&nbsp;would not result in a delay or time to completion materially longer than contemplated pursuant to the Offer, and (c)&nbsp;is otherwise on terms and conditions no more onerous on the Seller than the Offer (an &#147;<b>Alternative Transaction</b>&#148;), then the Seller shall support the completion of such Alternative Transaction.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Rockgate Shareholder Meeting</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If any Alternative Transaction involves a meeting or meetings of Rockgate&#146;s shareholders (the &#147;<b>Rockgate Alternative Transaction Meeting</b>&#148;), the Seller shall vote in favour of any matters necessary or ancillary to the completion of the Alternative Transaction and shall vote against any resolution the subject matter or effect of which would be to prevent, hinder, delay or frustrate such Alternative Transaction. In the event of any proposed Alternative Transaction, the references in this Agreement to the Offer shall be deemed to be changed to &#147;Alternative Transaction&#148; and all provisions of this Agreement shall be and shall be deemed to have been made in the context of the Alternative Transaction. Without restriction, the Seller:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall attend (either in person or by proxy) the Rockgate Alternative Transaction Meeting (including, for greater certainty, any adjourned, postponed or rescheduled meeting), and at such meeting, vote or cause to be voted all of the Seller&#146;s Shares, (including Seller&#146;s Shares acquired by the Seller on or following the date hereof and prior to the record date for voting at such meeting) that are beneficially owned by, or over which control or direction is exercised by, the Seller and which are entitled to be voted at such meeting in favour of any resolution approving the Alternative Transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall vote or cause to be voted (in person or by proxy) any Seller&#146;s Shares against, and not tender or cause to be tendered any Subject Securities to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any corporate transaction, such as a merger, amalgamation, arrangement, rights offering, reorganization, recapitalization or liquidation or take-over bid or similar transaction involving the Rockgate or the Subject Shares other than the Alternative Transaction;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="20903-2-KN-03_PB_10_055418_7056"></a></font></p>
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<!-- ZEQ.=1,SEQ=10,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=80964,FOLIO='10',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any proposed sale or transfer of a material amount of assets of Rockgate or any of its subsidiaries or the issuance of any securities of Rockgate; or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any action that is reasonably likely to impede, interfere with, delay, postpone, or adversely affect in any material respect the Alternative Transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall not, except as required pursuant to this Agreement, grant or agree to grant any proxy or other right to vote the Seller&#146;s Shares or enter into any voting trust or pooling agreement or arrangement or enter into or subject any of the Seller&#146;s Shares to any other agreement, arrangement, understanding or commitment, formal or informal, with respect to or relating to the voting or tendering thereof or revoke any proxy granted pursuant to this Agreement;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall upon the request of Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Alternative Transaction Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares in respect of any Rockgate Alternative Transaction Meeting, directing the Alternative Transaction Proxyholder to vote for any resolution approving such Alternative Transaction or related matter; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall upon the request of Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Non Approved Transaction Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares directing the Non Approved Transaction Proxyholder to vote against any resolution approving any transaction of the nature contemplated by Subsection 6.2(b)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;7<br> GENERAL PROVISIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Headings,&nbsp;etc.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The division of this Agreement into Articles and sections and the insertion of headings are for convenient reference only and do not affect its interpretation.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">References to Shares</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">References to &#147;Shares&#148; or &#147;Subject Shares&#148; (including the &#147;Seller&#146;s Shares&#148;) include any shares or securities into which the Subject Shares of Rockgate may be reclassified, subdivided, consolidated or converted and any rights and benefits arising therefrom, including any distributions of securities which may be declared in respect of the Subject Shares, and references to per share offer consideration shall be subject to equitable adjustment to reflect any such change to the capitalization of Rockgate.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="20903-2-KN-03_PB_11_055434_5335"></a></font></p>
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<!-- ZEQ.=1,SEQ=11,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=1024128,FOLIO='11',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Further Assurances</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Offeror and the Seller shall from time to time execute and deliver all such further documents and instruments and do all such acts and things as the other party may, either before or after the expiry of the Offer, reasonably require to effectively carry out or better evidence or perfect the full intent and meaning of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Effect of Termination</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If this Agreement is terminated as provided for in Article&nbsp;5, there shall be no liability or further obligation, on the part of any party hereto; provided that nothing in this Section&nbsp;7.4 shall release the parties to this Agreement of liability for breach of any representation, warranty or covenant of this Agreement occurring prior to the termination hereof. Upon termination of this Agreement, the Seller shall be entitled to withdraw any of its Seller&#146;s Shares deposited under the Offer.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.5</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Time of the Essence.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Time shall be of the essence of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.6</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Fees</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each party hereto shall pay the fees, costs and expenses of their respective financial, legal, auditing and other professional and other advisors incurred in connection with the preparation, execution and delivery of this Agreement and all documents and instruments executed or prepared pursuant hereto and any other costs and expenses whatsoever and howsoever incurred and shall indemnify each of the other parties from and against any and all claims against any of them for &#147;finder&#146;s&#148; or &#147;agency&#148; fees relating to the transactions contemplated hereby.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.7</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Public Announcements and Filings</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as required by law or applicable stock exchange requirements, the Seller shall not make any public announcement or statement with respect to the Offer or this Agreement without the prior approval of the Offeror. Moreover, in any event, the Seller agrees to provide prior notice to the Offeror of any public announcement relating to the Offer or this Agreement and agrees to consult with the Offeror prior to issuing such public announcement. The Seller hereby expressly consents to the Offeror disclosing the existence of this Agreement in any press release or other public disclosure document and acknowledges that a copy of this Agreement shall be filed on SEDAR on or following the date hereof. The Seller hereby expressly acknowledges and agrees that a summary of this Agreement and the negotiations leading to its execution and delivery may appear in, and a copy of this Agreement may be appended as an exhibit to, the Notwithstanding the foregoing, any disclosure that contains a reference, directly or indirectly, to the Seller shall, to the extent practicable in the circumstances, be subject to the prior review and approval of the Seller, not to be unreasonably withheld or delayed.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.8</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Specific Performance and other Equitable Rights</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Seller recognizes and acknowledges that this Agreement is an integral part of the transactions contemplated in the Offer and that the Offeror would not contemplate</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="20903-2-KN-03_PB_12_055446_5796"></a></font></p>
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<!-- ZEQ.=1,SEQ=12,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=550336,FOLIO='12',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">making the Offer unless this Agreement was executed, and that a breach by the Seller of any covenants or other commitments or obligations contained in the Agreement will cause the Offeror to sustain injury for which it would not have an adequate remedy at Law for money damages. Therefore, each of the parties hereto agrees that, in the event of such breach, the Offeror shall be entitled to the remedy of specific performance of such obligation and preliminary and permanent injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at law or in equity, and the Seller further agrees to waive any requirement for the security or posting of any bond in connection with the obtaining of any such injunctive or other equitable relief. Such remedies will not be exclusive remedies for any breach of this Agreement but will be in addition to any other remedy to which the Offeror may be entitled, at law or in equity.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.9</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Benefit of the Agreement</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement shall enure to the benefit of and be binding upon the respective successors and permitted assigns of the parties hereto.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.10</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Assignment</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may not be assigned by any party without the prior written consent of the other party, provided, however, that the Offeror may assign its respective obligations under this Agreement to an affiliate of the Offeror provided that the Offeror shall continue to be liable for any breach of or default in performance by the assignee of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.11</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Entire Agreement</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes all prior negotiations, investigations and agreements relating to the subject matter hereof. There are no warranties, representations, understandings or agreements between the parties in connection with the subject matter hereof except as specifically set forth or referred to in this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.12</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Amendments and Waiver</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No modification of or amendment to this Agreement shall be valid or binding unless set forth in writing and duly executed by each of the parties hereto and no waiver of any breach of any term or provision of this Agreement shall be effective or binding unless made in writing and signed by the party purporting to give the same and, unless otherwise provided, shall be limited to the specific breach waived.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="20903-2-KN-03_PB_13_055509_2897"></a></font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.13</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notices</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any demand, notice or other communication to be given in connection with this Agreement must be given in writing and may be given by personal delivery or by facsimile or other electronic means of communication addressed to the recipient as follows:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if to the Seller:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Resource Capital Investment Corp., General Partner</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1910 Palomar Point Way</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suite&nbsp;200</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Carlsbad, California 92008</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160;&#160;&#160;&#160;&#160; Gretchen Carter</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160; 760-683-6752</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">if to the Offeror or the Offeror:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suite&nbsp;2000</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">885 West Georgia Street</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vancouver, British Columbia</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">V6C 3E8</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160;&#160;&#160;&#160;&#160; Ron Hochstein</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160; 604.689.4250</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with a copy to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cassels Brock&nbsp;&amp; Blackwell LLP</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suite&nbsp;2200</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">885 West Georgia Street</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vancouver, British Columbia </font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">V6C 3E8</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:&#160;&#160;&#160;&#160;&#160; Gordon R. Chambers</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:&#160;&#160;&#160;&#160;&#160; 604.691.6120</font></p>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or to such other address, facsimile number or email address as may be designated by notice given by any party to the other. If any notice or other communication shall be given by personal delivery, a copy of such notice or communication shall also be given by facsimile. Any demand, notice or other communication given by personal delivery shall be conclusively deemed to have been given on the date of actual delivery thereof and, if given by facsimile or other means of electronic communication, on the date of transmittal thereof if given prior to 5:00&nbsp;P.M. (Toronto time) and on the next business day if not given prior to 5:00&nbsp;P.M. (Toronto time).</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.14</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Interpretation</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In this Agreement words importing the singular shall include the plural and vice versa, words importing any gender include all genders and the word person includes individuals, partnerships, associations, trusts, foundations, unincorporated organizations, limited liability companies and corporations. The inclusion of headings in this Agreement</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="20903-2-KN-03_PB_14_055557_3020"></a></font></p>
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<!-- ZEQ.=1,SEQ=14,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=740752,FOLIO='14',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is for convenience of reference only and shall not affect the construction or interpretation hereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.15</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Severability</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is intended that all provisions of this Agreement shall be fully binding and effective between the parties, but in the event that any particular provision or provisions or a part of one is found to be void, voidable or unenforceable for any reason whatever, then the particular provision or provisions shall be deemed severed from the remainder of this Agreement and all other provisions shall remain in full force.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.16</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Governing Law</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement and the rights and obligations of the parties hereto shall be governed in all respects, including validity, interpretation and effect, exclusively by the laws of the Province of Ontario and the laws of Canada applicable therein without giving effect to the principles of conflict of laws and each of the Offeror and Seller irrevocably submits to the jurisdiction of the courts of the Province of Ontario.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.17</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Counterparts</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original and all of which taken together will be deemed to constitute one and the same instrument. Delivery of an executed signature page&nbsp;to this Agreement by any party by electronic transmission will be as effective as delivery of a manually executed copy of the Agreement by such party.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.18</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Effectiveness</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement shall not become binding on either Offeror or Seller unless and until this Agreement has been executed by Offeror and delivered by Offeror to Seller.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF the parties hereto have hereunto executed this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RESOURCE   CAPITAL INVESTMENT CORP., GENERAL PARTNER</font></b></p>    </td>   </tr>
<tr>
<td width="100%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) &#147;[<i>signature   not legible</i>]&#148;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized Signatory</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="100%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt 9.7pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executed by   Offeror and delivered to Seller this 18th day of September, 2013</font></p>    </td>   </tr>
<tr>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.48%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.48%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DENISON MINES CORP.</font></b></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="47%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:47.48%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(signed) &#147;<i>Ron F.   Hochstein</i>&#148;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Authorized Signatory</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.06%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.46%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="20903-2-KN-03_PB_15_055923_7748"></a></font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
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<!-- ZEQ.=1,SEQ=15,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=606940,FOLIO='15',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Schedule A</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Seller&#146;s Shares</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="66%" style="border-collapse:collapse;width:66.66%;">
<tr>
<td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Common Shares:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,263,905</font></p>    </td>   </tr>
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<td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Options:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nil</font></p>    </td>   </tr>
<tr>
<td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.48%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Warrants:</font></p>    </td>
<td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nil</font></p>    </td>   </tr>  </table>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<!-- ZEQ.=1,SEQ=16,EFW="2216722",CP="DENISON MINES CORPORATION",DN="9",CHK=267411,FOLIO='',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KN-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<TYPE>EX-2.9
<SEQUENCE>10
<FILENAME>a2216722zex-2_9.htm
<DESCRIPTION>EX-2.9
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 2.9</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LOCK-UP AGREEMENT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS AGREEMENT</font></b><font size="2" style="font-size:10.0pt;"> dated for reference the 18th day of September, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMONG:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp., a corporation incorporated under the laws of Ontario</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;<b>Offeror</b>&#148;)</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AND</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sprott Asset Management LP, a portfolio manager registered under the laws of Ontario for and on behalf of certain investment funds and fully managed accounts</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(&#147;<b>Seller</b>&#148;)</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS:</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">this Lock-Up Agreement (the &#147;<b>Agreement</b>&#148;) sets out the terms and conditions upon which the Offeror, either directly or at its sole discretion through a wholly-owned subsidiary, will make an offer (the &#147;<b>Offer</b>&#148;) to purchase all of the issued and outstanding common shares (the &#147;<b>Subject Shares</b>&#148;) of Rockgate Capital Corp. (&#147;<b>Rockgate</b>&#148;), including any Subject Shares that may become outstanding after the date of the Offer but before the expiry time of the Offer upon the conversion, exchange or exercise of securities of Rockgate or any of its subsidiaries;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">this Agreement sets out the terms and conditions of the agreement of the Seller to deposit or cause to be deposited under the Offer: (i)&nbsp;the number of Subject Shares set forth in Schedule A hereto, representing all of the Subject Shares presently owned legally or beneficially by such Seller (including Subject Shares owned legally or beneficially by any subsidiary or affiliate of the Seller), or over which the Seller exercises control or direction, and (ii)&nbsp;all Subject Shares subsequently acquired by the Seller (all of such Subject Shares of the Seller are hereinafter collectively referred to as the &#147;<b>Seller&#146;s Shares</b>&#148;), and sets out the obligations and commitments of the Seller in connection therewith;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Seller acknowledges that the Offeror would not commence the Offer but for the execution and delivery of this Agreement by the Seller;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Offeror wishes to acquire all of the Seller&#146;s Shares upon and subject to the terms and conditions hereinafter set forth; and</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Seller wishes to sell all of the Seller&#146;s Shares to the Offeror upon and subject to the terms and conditions hereinafter set forth;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW THEREFORE, </font></b><font size="2" style="font-size:10.0pt;">in consideration of the Offeror agreeing to initiate and make the Offer, and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereby agree as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<!-- ZEQ.=1,SEQ=1,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=477119,FOLIO='',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:06 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;1<br> THE OFFER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Offer</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to the terms of this Agreement, the Offeror hereby covenants and agrees to make the Offer. The Offer will contain customary conditions for a take-over bid, including, without limitation: 90% minimum tender condition (the &#147;<b>Minimum Tender Condition</b>&#148;); the waiver or termination of all rights under any shareholder rights plan(s), by regulatory order or otherwise, to Denison&#146;s satisfaction; Rockgate not having implemented or approved any issuance of shares or other securities or any other transaction, capital expenditure or distribution to its shareholders outside the ordinary course of business; there being no change in the business, operations or assets of Rockgate that constitutes a material adverse effect in respect of&nbsp;Rockgate;&#160; and absence of material misstatements by Rockgate in its public disclosure documents (collectively, the &#147;<b>Conditions</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The terms of the Offer shall include any amendments or variations to, or extensions of, such Offer, including, without limitation, removing or waiving any Condition or extending the date by which the Subject Shares may be deposited. The Offer will be made to the holders of all of the Subject Shares in consideration for 0.192 Offeror Common Share for each Subject Share.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Subsection 1.1(e)&nbsp;below, the Offeror shall commence the Offer by notice as soon as practicable and in any event no later than 11:59&nbsp;p.m. (Toronto time) on September&nbsp;20, 2013.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Offer will be made in accordance with applicable securities laws and shall expire no earlier than 4:00&nbsp;p.m. (Toronto time) on the thirty-sixth (36th) day after the day that the Offer is commenced, subject to the right of the Offeror to extend the period of time during which the Subject Shares may be deposited under the Offer (as it may be extended, the &#147;<b>Expiry Time</b>&#148;). The Offer will not be subject to any conditions other than the Conditions.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller acknowledges and agrees that the Offeror may, in its sole and absolute discretion, amend, supplement, modify or waive any term or Condition of the Offer in whole or in part, provided that the Seller will be released from its obligations hereunder if the Offeror, without the consent of the Seller: (i)&nbsp;decreases the consideration per Subject Share, as specified in this Section&nbsp;1.1, (ii)&nbsp;changes the form of consideration payable under the Offer (other than to add additional consideration or the option of Rockgate&#146;s shareholders to choose one or more alternative forms of consideration in addition to the form of consideration herein specified), or (iii)&nbsp;otherwise amends or varies the terms and Conditions of the Offer in a manner adverse to the Seller. If the Offeror increases the consideration payable under the Offer prior to the expiry of the Offer, the Seller shall be entitled to such increased consideration in respect of its Subject Shares that are taken up by the Offeror, as required by applicable securities laws.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The obligation of the Offeror to make the Offer is conditional on the prior satisfaction of the following conditions, all of which conditions are included for the sole benefit of the Offeror and any or all of which may be waived by the Offeror in</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KL-01_PB_2_025523_7056"></a></font></p>
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<!-- ZEQ.=1,SEQ=2,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=337946,FOLIO='2',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:06 2013' -->

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<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">whole or in part in its sole discretion without prejudice to any other rights it may have under this Agreement or otherwise:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">no circumstance, fact, change, event or occurrence shall have occurred that would render it impossible for the Offer to be consummated absent a waiver of or modification to one or more of the Conditions;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">no cease trade order, injunction or other prohibition at law shall exist against the Offeror making the Offer or taking up and paying for Subject Shares deposited under the Offer; and</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">the Offeror shall have determined in its sole discretion that no material adverse change shall have occurred with respect to either the Offeror or Rockgate.</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Deposit by Seller</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Subject to Subsection 1.2(b)&nbsp;below, the Seller agrees to deposit or cause to be deposited, all of the Seller&#146;s Shares under the Offer no later than the tenth (10th) business day after the date of commencement of the Offer and thereafter except as may be permitted under this Agreement or applicable law not withdraw or permit the Seller&#146;s Shares to be withdrawn from the Offer. In the event that the Seller subsequently obtains any additional Subject Shares, such Subject Shares shall be deposited under the Offer as soon as practicable after the date such Subject Shares are obtained.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby agrees that neither it nor any person or entity acting on its behalf will withdraw or take any action to withdraw any of the Seller&#146;s Shares deposited under the Offer notwithstanding any statutory rights or other rights under the terms of the Offer or otherwise which it might have, unless this Agreement is terminated in accordance with its terms prior to the take-up and payment of the Seller&#146;s Shares under the Offer.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;2<br> REPRESENTATIONS AND WARRANTIES</font></b></p>
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<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Representations and Warranties of the Seller</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Seller hereby represents and warrants to and in favour of the Offeror as follows and acknowledges that the Offeror is relying upon such representations and warranties in connection with the matters contemplated by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Organization</font></i><font size="2" style="font-size:10.0pt;">. It is duly incorporated or formed and validly existing under the laws of its jurisdiction of incorporation or formation.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Authorization<i>,&nbsp;etc</i>. It has all necessary power, authority, capacity, consent and right to enter into this Agreement and to carry out each of its obligations under this Agreement. This Agreement has been duly executed and delivered by the Seller and constitutes a legal, valid and binding obligation of the Seller enforceable against it in accordance with its terms; subject, however, to limitations with respect to enforcement imposed by law in connection with bankruptcy or similar proceedings, the equitable power of the courts to stay</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="20903-2-KL-01_PB_3_025829_5335"></a></font></p>
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<!-- ZEQ.=1,SEQ=3,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=476746,FOLIO='3',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:06 2013' -->

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<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">proceedings before them and the execution of judgments and to the extent that equitable remedies such as specific performance and injunction are in the discretion of the court from which they are sought.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Ownership,&nbsp;etc</font></i><font size="2" style="font-size:10.0pt;">. The ordinary business of the Seller includes the management of investment funds for others.&#160; The Seller (or, if applicable, one or more of its direct or indirect subsidiaries or one of its affiliates):</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.3in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">is the sole beneficial owner of such Seller&#146;s Shares,&#160; or</font></p>
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<p style="margin:0in 0in .0001pt 1.3in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">holds such Seller&#146;s Shares on behalf of beneficial owners pursuant to terms whereby the Seller has full discretion to make investment decisions and to trade in the Seller&#146;s Shares on behalf of and for the account of such beneficial owner without requiring such beneficial owner&#146;s consent, and such terms grant to the Seller voting and dispositive power over such Seller&#146;s Shares in the ordinary course of the performance of the Seller&#146;s duties relating to such accounts (a &#147;<b>Fully Managed Account</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The total number of Subject Shares beneficially owned by, or over which control and direction is held, by the Seller or held in one or more Fully Managed Accounts is set forth in Schedule A hereto. The Seller has the sole and exclusive right (either on its own behalf or pursuant to the terms of any Fully Managed Accounts) to dispose of such Seller&#146;s Shares as provided in this Agreement and to vote all such Seller&#146;s Shares, and the Seller is not a party to, bound or affected by or subject to any contractual arrangements, law or regulation of which a breach would occur as a result of the execution and delivery of this Agreement or the consummation of any of the transactions provided for in this Agreement.</font></p>
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<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Good Title</font></i><font size="2" style="font-size:10.0pt;">. The Seller&#146;s Shares to be acquired by the Offeror directly or indirectly from the Seller pursuant to the Offer will be acquired with good and marketable title, free and clear of any and all mortgages, liens, charges, restrictions, security interests, adverse claims, pledges, encumbrances and demands or rights of others of any nature or kind whatsoever, and such Seller&#146;s Shares are not subject to any shareholders&#146; agreement, voting trust or similar agreement or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming a shareholders&#146; agreement, voting trust or other agreement affecting the Seller&#146;s Shares or the ability of such holder thereof to exercise ownership rights thereto, including the voting of any such Subject Shares. No approval of the securityholders of the Seller is or will be required in order to sell the Seller&#146;s Shares to the Offeror.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">No Agreements</font></i><font size="2" style="font-size:10.0pt;">. No person, firm, body corporate or other entity whatsoever has any agreement or option, or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option, for the purchase, requisition or transfer from the Seller, or any registered holder of the Seller&#146;s Shares, of any of the Seller&#146;s Shares, or any interest therein or right thereto, except pursuant to this Agreement. There does not exist any agreement, understanding or commitment giving rise to any obligations, financial or otherwise, on the part of Rockgate or any of its subsidiaries or affiliates to the Seller, or any subsidiaries or affiliates of the Seller as applicable.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4<a name="20903-2-KL-01_PB_4_030008_5796"></a></font></p>
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<!-- ZEQ.=1,SEQ=4,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=487172,FOLIO='4',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:06 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">No Proceeding Pending</font></i><font size="2" style="font-size:10.0pt;">. There is no claim, action, lawsuit, arbitration, mediation or other proceeding pending or threatened against the Seller (or its subsidiaries or affiliates), which relates to this Agreement or otherwise materially impairs or could materially impair the ability of the Seller to consummate the transactions contemplated hereby.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Consents.</font></i><font size="2" style="font-size:10.0pt;"> To the best of the Seller&#146;s knowledge, there is no requirement of the Seller to make any filing with, give any notice to, or obtain any permit, licence, sanction, ruling, order, exemption or consent, approval or waiver of, any governmental authority or other person (including the lapse, without objection, of a prescribed time under applicable law that states that a transaction may be implemented if a prescribed time lapses following the giving of notice) as a condition to the lawful completion of the transactions contemplated by this Agreement or the Offer, or the execution and delivery by the Seller and enforcement against the Seller of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Non-Contravention</font></i><font size="2" style="font-size:10.0pt;">. This Agreement does not (or would not with the giving of notice, the lapse of time or the happening of any other event or condition) result in a breach or a violation of, or conflict with in any material manner, or allow any other person to exercise any rights under any of the terms or provisions of the constating documents and/or by-laws of the Seller (or of any of its subsidiaries or affiliates which is the legal or beneficial owner of the Seller&#146;s Shares) or any agreement, contract or indenture to which the Seller is a party or by which the Seller&#146;s property is bound (as applicable), and will not result in the violation of any law or regulation.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Not Joint Actors</font></i><font size="2" style="font-size:10.0pt;">. The Seller is not acting jointly or in concert with the Offeror in respect of the Offer and the entry into this Agreement was a condition imposed by the Offeror to proceeding with the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Lack of Knowledge and Representation</font></i><font size="2" style="font-size:10.0pt;">. Neither the Seller nor any joint actor with the Seller (including its subsidiaries and affiliates) has, or has had within the twelve (12) months preceding the date of this Agreement, any board or management representation in respect of Rockgate, or has knowledge of any material information concerning Rockgate or its securities that has not been generally disclosed.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The representations, warranties and covenants of the Seller set forth in this Section&nbsp;2.1 shall survive the completion of the sale and purchase of the Seller&#146;s Shares under the Offer and, notwithstanding such completion, will continue in full force and effect for the benefit of the Offeror for a period of one (1)&nbsp;year from the date thereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Representations and Warranties of Offeror</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offeror represents and warrants to and in favour of the Seller as follows and acknowledges that the Seller is relying upon such representations and warranties in connection with the matters contemplated by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Organization</font></i><font size="2" style="font-size:10.0pt;">. Offeror is a corporation duly incorporated and validly existing under the laws of its jurisdiction of incorporation.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5<a name="20903-2-KL-01_PB_5_030047_2897"></a></font></p>
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<!-- ZEQ.=1,SEQ=5,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=20418,FOLIO='5',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:06 2013' -->

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<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Authorization,&nbsp;etc</font></i><font size="2" style="font-size:10.0pt;">. Offeror has all necessary power, authority, capacity, consent and right to enter into this Agreement and to carry out its obligations under this Agreement. This Agreement has been duly executed and delivered by Offeror and constitutes a legal, valid and binding obligation of Offeror enforceable against it in accordance with its terms; subject, however, to limitations with respect to enforcement imposed by law in connection with bankruptcy or similar proceedings, the equitable power of the courts to stay proceedings before them and the execution of judgments and to the extent that equitable remedies such as specific performance and injunction are in the discretion of the court from which they are sought.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Non-Contravention</font></i><font size="2" style="font-size:10.0pt;">. This Agreement does not (or would not with the giving of notice, the lapse of time or the happening of any other event or condition) result in a breach or a violation of, or conflict with in any material manner, or allow any other person to exercise any rights under any of the terms or provisions of the constating documents and/or by-laws of Offeror or any agreement, contract or indenture to which Offeror is a party or by which its&#160; property is bound (as applicable), and will not result in the violation of any law or regulation by Offeror.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Not Joint Actors</font></i><font size="2" style="font-size:10.0pt;">. Offeror is not acting jointly or in concert with the Seller in respect of the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><i><font size="2" style="font-size:10.0pt;font-style:italic;">Lack of Knowledge and Representation</font></i><font size="2" style="font-size:10.0pt;">. Neither Offeror nor any joint actor with Offeror (including its subsidiaries and affiliates) has, or has had within the twelve (12) months preceding the date of this Agreement, any board or management representation in respect of Rockgate, or has knowledge of any material information concerning Rockgate or its securities that has not been generally disclosed.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The representations, warranties and covenants of Offeror set forth in this Section&nbsp;2.2 shall survive the completion of the sale and purchase of the Seller&#146;s Shares under the Offer and, notwithstanding such completion, will continue in full force and effect for the benefit of the Seller for a period of one (1)&nbsp;year from the date thereof.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;3<br> COVENANTS OF THE SELLER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby covenants and agrees that it shall not, from the date hereof until the earlier of: (I)&nbsp;the termination of this Agreement pursuant to Article&nbsp;5; and (II)&nbsp;the date and time the Offer, as it may be extended by the Offeror from time to time, expires (the &#147;<b>Expiry Time</b>&#148;), except in accordance with the terms of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">grant or agree to grant any proxy or other right to the Subject Shares, or enter into any voting trust or pooling agreement or arrangement or enter into or subject any of such Subject Shares to any other agreement, arrangement, understanding or commitment, formal or informal, with respect to or relating to the voting thereof;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">directly or indirectly, through any officer, director, employee, advisor, representative, agent or otherwise (as applicable), make, solicit, assist, initiate, encourage, or otherwise facilitate any inquiries, the submission of proposals or</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6<a name="20903-2-KL-01_PB_6_030119_3020"></a></font></p>
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<p style="margin:0in 0in .0001pt 1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">offers from any other person, body corporate, partnership or other business organization whatsoever regarding a potential competing or superior proposal for the acquisition of the Subject Shares (whether by way of take-over bid, asset sale, merger, amalgamation, arrangement, reorganization or other business combination) (a &#147;<b>Competing Bid</b>&#148;), participate in any material discussions or negotiations regarding any Competing Bid, or otherwise cooperate in any way with, or assist or participate in, knowingly facilitate or encourage, any effort or attempt by any other person to do or seek to do any of the foregoing, including by depositing or voting any of the Seller&#146;s Shares in favour of any such Competing Bid;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">option, sell, transfer, dispose of, pledge, encumber, grant a security interest in or otherwise convey any Subject Shares or any right or interest therein, or agree to do any of the foregoing except pursuant to the Offer;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">acquire any additional number of Subject Shares or securities convertible into or exchangeable for Subject Shares, except as permitted by law;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">except as required by applicable law prior to the public announcement of the Offer, directly or indirectly, disclose to any person, firm or corporation the existence of the terms and conditions of this Agreement, or any terms or conditions or other information concerning the Offer; or</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">take any action to encourage or assist any other person to do any of the prohibited acts referred to in foregoing provisions of this Subsection 3.1, provided that affiliates of the Seller may acquire additional common shares of Rockgate if the market price for such shares is materially lower than the price implied by the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller hereby covenants and agrees that it shall, from the date hereof until the earlier of (I)&nbsp;the termination of this Agreement pursuant to Article&nbsp;5, and (II)&nbsp;the Expiry Time, except in accordance with the terms of this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">immediately cease any existing discussions or negotiations it is engaged in with any parties (other than the Offeror) with respect to any Competing Bid; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">use its reasonable commercial efforts to assist the Offeror to successfully complete the Offer and any subsequent acquisition transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in addition to granting to the Offeror one or more of the forms of proxy contemplated by Subsections 3.4, 6.2(d)&nbsp;and 6.2(e)&nbsp;below, exercise the voting rights attaching to the Seller&#146;s Shares to oppose any proposed action by Rockgate, its directors, officers and/or shareholders, any of its subsidiaries or any other person:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in respect of any amalgamation, merger, sale of Rockgate&#146;s or its affiliates&#146; or associates&#146; assets, take-over bid, issuer bid, plan of arrangement, reorganization, recapitalization, issuance of shares, equity or voting securities or convertible or exchangeable securities or other business combination or similar transaction involving Rockgate or any of its subsidiaries other than the Offer;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7<a name="20903-2-KL-01_PB_7_030207_7748"></a></font></p>
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<!-- ZEQ.=1,SEQ=7,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=202375,FOLIO='7',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:06 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">which would reasonably be regarded as being directed towards or likely to prevent or delay the take-up and payment of the Seller&#146;s Shares deposited under the Offer or the successful completion of the Offer, including without limitation any amendment to the constating documents of Rockgate, its subsidiaries or its organizational structure;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">in respect of any new shareholder rights plan or &#147;poison pill&#148; subsequent to the date of this Agreement; or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">which would reasonably be expected to result in a material adverse effect in respect of Rockgate;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">promptly notify and provide to the Offeror a copy of any Competing Bid or proposal or document related thereto provided to the Seller, or any amendments to the foregoing; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">deposit and not withdraw all of the Seller&#146;s Shares, together with a duly completed and executed letter of transmittal or notice of guaranteed delivery (or take all actions to cause the Seller&#146;s Shares to be electronically deposited through the CDSX system), with the depositary specified in the take over bid circular setting out the terms of the Offer (the &#147;<b>Circular</b>&#148;) in accordance with all of the terms thereof and all of the terms of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller covenants to co-operate with the Offeror in making all requisite regulatory filings in respect of the Offer.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Seller will within two days after the execution and delivery of this Agreement by Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Seller Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares in respect of the shareholders meeting of Rockgate scheduled to be held on September&nbsp;25, 2013 (along with any adjourned or rescheduled or postponed meeting) regarding the proposed plan of arrangement contemplated by that certain arrangement agreement dated August&nbsp;13, 2013 between Rockgate and Mega Uranium Ltd. (&#147;<b>Mega</b>&#148;), directing the Seller Proxyholder to vote against any resolution approving such plan of arrangement or related matter.</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8<a name="20903-2-KL-01_PB_8_030242_141"></a></font></p>
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<!-- ZEQ.=1,SEQ=8,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=303939,FOLIO='8',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-01_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:06 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;4<br> COVENANTS OF THE OFFEROR</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offeror hereby covenants and agrees that, unless the Seller shall otherwise agree in writing or as otherwise expressly contemplated or permitted by this Agreement:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">subject to the terms and conditions of the Offer, Offeror shall take up the Seller&#146;s Shares deposited under the Offer and pay for such Seller&#146;s Shares as set forth in the Circular; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Offeror shall use all reasonable commercial efforts, including co-operating with the Seller, to make all requisite regulatory filings in order to obtain all requisite regulatory approvals required to effect and complete the Offer.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offeror further covenants and agrees that all Offeror Common Shares issuable to the Seller as consideration under the Offer shall be authorized for issuance and shall be duly and validly issued shares of the common stock of the Offeror.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;5<br> TERMINATION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Termination</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may be terminated by notice in writing as follows:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">at any time by mutual consent of the Seller and the Offeror;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, if the Offer is not commenced within the time contemplated by Subsection 1.1(c)&nbsp;or if the Offer has been terminated or withdrawn;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, provided the Seller is not in breach of any of its obligations hereunder, if the Offeror has not taken up and paid for Subject Shares deposited under the Offer within one hundred and twenty (120) days after the date of the Offer; provided, however, that if the Offeror&#146;s take up and payment for Subject Shares deposited under the Offer is delayed by an injunction or order made by a court or regulatory authority of competent jurisdiction, then provided that such injunction or order is being contested or appealed or such regulatory waiver, consent or approval being actively sought, as applicable, this Agreement shall not be terminated by the Seller pursuant to this Section&nbsp;4.1(c)&nbsp;until the earlier of (i)&nbsp;one hundred and eighty (180) days after the date the Offer is commenced, and (ii)&nbsp;the 10th business day following the date on which such injunction or order ceases to be in effect or such waiver, consent or approval or declaration of effectiveness is obtained, as applicable;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Seller, when not in material default in its performance of its obligations hereunder, at any time if the Offer is modified in a manner contrary to the terms of this Agreement or contrary to the provisions of applicable securities legislation;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by either the Seller or the Offeror, when not in material default in its performance of its obligations hereunder, if the other party has not complied with its covenants contained herein in all material respects;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9<a name="20903-2-KL-03_PB_9_030407_7608"></a></font></p>
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<!-- ZEQ.=1,SEQ=9,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=841096,FOLIO='9',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by either the Seller or the Offeror, when not in material default in the performance of its obligations hereunder, if any of the representations and warranties of the other party contained herein is untrue or inaccurate in any material respect; or</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">by the Offeror, if any Condition is not satisfied at the Expiry Time of the Offer and the Offeror has not elected to waive such condition.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;6<br> ALTERNATIVE FORM&nbsp;OF TRANSACTION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Alternative Form&nbsp;of Transaction</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Offeror determines that it is necessary or desirable to proceed with another form of transaction, including a plan of arrangement or similar transaction, whereby the Offeror would acquire following completion of such Alternative Transaction all or substantially all of the Subject Shares outstanding or all or substantially all of the assets of Rockgate and its subsidiaries and that (a)&nbsp;provides for economic terms which, in relation to the Seller, on an after-tax basis, are at least equivalent to or better than those contemplated by the Offer, (b)&nbsp;would not result in a delay or time to completion materially longer than contemplated pursuant to the Offer, and (c)&nbsp;is otherwise on terms and conditions no more onerous on the Seller than the Offer (an &#147;<b>Alternative Transaction</b>&#148;), then the Seller shall support the completion of such Alternative Transaction.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Rockgate Shareholder Meeting</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If any Alternative Transaction involves a meeting or meetings of Rockgate&#146;s shareholders (the &#147;<b>Rockgate Alternative Transaction Meeting</b>&#148;), the Seller shall vote in favour of any matters necessary or ancillary to the completion of the Alternative Transaction and shall vote against any resolution the subject matter or effect of which would be to prevent, hinder, delay or frustrate such Alternative Transaction. In the event of any proposed Alternative Transaction, the references in this Agreement to the Offer shall be deemed to be changed to &#147;Alternative Transaction&#148; and all provisions of this Agreement shall be and shall be deemed to have been made in the context of the Alternative Transaction. Without restriction, the Seller:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall attend (either in person or by proxy) the Rockgate Alternative Transaction Meeting (including, for greater certainty, any adjourned, postponed or rescheduled meeting), and at such meeting, vote or cause to be voted all of the Seller&#146;s Shares, (including Seller&#146;s Shares acquired by the Seller on or following the date hereof and prior to the record date for voting at such meeting) that are beneficially owned by, or over which control or direction is exercised by, the Seller and which are entitled to be voted at such meeting in favour of any resolution approving the Alternative Transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall vote or cause to be voted (in person or by proxy) any Seller&#146;s Shares against, and not tender or cause to be tendered any Subject Securities to:</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any corporate transaction, such as a merger, amalgamation, arrangement, rights offering, reorganization, recapitalization or liquidation or take-over bid or similar transaction involving the Rockgate or the Subject Shares other than the Alternative Transaction;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10<a name="20903-2-KL-03_PB_10_030443_8146"></a></font></p>
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<!-- ZEQ.=1,SEQ=10,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=772901,FOLIO='10',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any proposed sale or transfer of a material amount of assets of Rockgate or any of its subsidiaries or the issuance of any securities of Rockgate; or</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">any action that is reasonably likely to impede, interfere with, delay, postpone, or adversely affect in any material respect the Alternative Transaction;</font></p>
<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.3in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall not, except as required pursuant to this Agreement, grant or agree to grant any proxy or other right to vote the Seller&#146;s Shares or enter into any voting trust or pooling agreement or arrangement or enter into or subject any of the Seller&#146;s Shares to any other agreement, arrangement, understanding or commitment, formal or informal, with respect to or relating to the voting or tendering thereof or revoke any proxy granted pursuant to this Agreement;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall upon the request of Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Alternative Transaction Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares in respect of any Rockgate Alternative Transaction Meeting, directing the Alternative Transaction Proxyholder to vote for any resolution approving such Alternative Transaction or related matter; and</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">shall upon the request of Offeror duly execute and deliver to Offeror (and at the request of Offeror, re-execute and re-deliver from time to time) a form of proxy or voting instructions in form and substance acceptable to Offeror irrevocably appointing one or more individual persons designated by Offeror, with full power of substitution (the &#147;<b>Non Approved Transaction Proxyholder</b>&#148;), as proxy for and on behalf of Seller in respect of all voting entitlement of the Seller&#146;s Shares directing the Non Approved Transaction Proxyholder to vote against any resolution approving any transaction of the nature contemplated by Subsection 6.2(b)&nbsp;above.</font></p>
<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARTICLE&nbsp;7<br> GENERAL PROVISIONS</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Headings,&nbsp;etc.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The division of this Agreement into Articles and sections and the insertion of headings are for convenient reference only and do not affect its interpretation.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">References to Shares</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">References to &#147;Shares&#148; or &#147;Subject Shares&#148; (including the &#147;Seller&#146;s Shares&#148;) include any shares or securities into which the Subject Shares of Rockgate may be reclassified, subdivided, consolidated or converted and any rights and benefits arising therefrom, including any distributions of securities which may be declared in respect of the Subject Shares, and references to per share offer consideration shall be subject to equitable adjustment to reflect any such change to the capitalization of Rockgate.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11<a name="20903-2-KL-03_PB_11_030517_7091"></a></font></p>
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<!-- ZEQ.=1,SEQ=11,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=799349,FOLIO='11',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Further Assurances</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each of the Offeror and the Seller shall from time to time execute and deliver all such further documents and instruments and do all such acts and things as the other party may, either before or after the expiry of the Offer, reasonably require to effectively carry out or better evidence or perfect the full intent and meaning of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.4</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Effect of Termination</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If this Agreement is terminated as provided for in Article&nbsp;5, there shall be no liability or further obligation, on the part of any party hereto; provided that nothing in this Section&nbsp;7.4 shall release the parties to this Agreement of liability for breach of any representation, warranty or covenant of this Agreement occurring prior to the termination hereof. Upon termination of this Agreement, the Seller shall be entitled to withdraw any of its Seller&#146;s Shares deposited under the Offer.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.5</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Time of the Essence.</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Time shall be of the essence of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.6</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Fees</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each party hereto shall pay the fees, costs and expenses of their respective financial, legal, auditing and other professional and other advisors incurred in connection with the preparation, execution and delivery of this Agreement and all documents and instruments executed or prepared pursuant hereto and any other costs and expenses whatsoever and howsoever incurred and shall indemnify each of the other parties from and against any and all claims against any of them for &#147;finder&#146;s&#148; or &#147;agency&#148; fees relating to the transactions contemplated hereby.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.7</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Public Announcements and Filings</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as required by law or applicable stock exchange requirements, the Seller shall not make any public announcement or statement with respect to the Offer or this Agreement without the prior approval of the Offeror. Moreover, in any event, the Seller agrees to provide prior notice to the Offeror of any public announcement relating to the Offer or this Agreement and agrees to consult with the Offeror prior to issuing such public announcement. The Seller hereby expressly consents to the Offeror disclosing the existence of this Agreement in any press release or other public disclosure document and acknowledges that a copy of this Agreement shall be filed on SEDAR on or following the date hereof. The Seller hereby expressly acknowledges and agrees that a summary of this Agreement and the negotiations leading to its execution and delivery may appear in, and a copy of this Agreement may be appended as an exhibit to, the Notwithstanding the foregoing, any disclosure that contains a reference, directly or indirectly, to the Seller shall, to the extent practicable in the circumstances, be subject to the prior review and approval of the Seller, not to be unreasonably withheld or delayed.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.8</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Specific Performance and other Equitable Rights</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Seller recognizes and acknowledges that this Agreement is an integral part of the transactions contemplated in the Offer and that the Offeror would not contemplate</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12<a name="20903-2-KL-03_PB_12_030540_455"></a></font></p>
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</div>
<!-- ZEQ.=1,SEQ=12,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=550336,FOLIO='12',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">making the Offer unless this Agreement was executed, and that a breach by the Seller of any covenants or other commitments or obligations contained in the Agreement will cause the Offeror to sustain injury for which it would not have an adequate remedy at Law for money damages. Therefore, each of the parties hereto agrees that, in the event of such breach, the Offeror shall be entitled to the remedy of specific performance of such obligation and preliminary and permanent injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at law or in equity, and the Seller further agrees to waive any requirement for the security or posting of any bond in connection with the obtaining of any such injunctive or other equitable relief. Such remedies will not be exclusive remedies for any breach of this Agreement but will be in addition to any other remedy to which the Offeror may be entitled, at law or in equity.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.9</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Benefit of the Agreement</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement shall enure to the benefit of and be binding upon the respective successors and permitted assigns of the parties hereto.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.10</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Assignment</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may not be assigned by any party without the prior written consent of the other party, provided, however, that the Offeror may assign its respective obligations under this Agreement to an affiliate of the Offeror provided that the Offeror shall continue to be liable for any breach of or default in performance by the assignee of this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.11</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Entire Agreement</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes all prior negotiations, investigations and agreements relating to the subject matter hereof. There are no warranties, representations, understandings or agreements between the parties in connection with the subject matter hereof except as specifically set forth or referred to in this Agreement.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.12</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Amendments and Waiver</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No modification of or amendment to this Agreement shall be valid or binding unless set forth in writing and duly executed by each of the parties hereto and no waiver of any breach of any term or provision of this Agreement shall be effective or binding unless made in writing and signed by the party purporting to give the same and, unless otherwise provided, shall be limited to the specific breach waived.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13<a name="20903-2-KL-03_PB_13_030558_4141"></a></font></p>
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</div>
<!-- ZEQ.=1,SEQ=13,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=856866,FOLIO='13',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.13</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notices</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any demand, notice or other communication to be given in connection with this Agreement must be given in writing and may be given by personal delivery or by facsimile or other electronic means of communication addressed to the recipient as follows:</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.5in;width:93.34%;">
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>    </td>
<td width="22%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:22.14%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if to the Seller:</font></p>    </td>
<td width="71%" valign="top" style="padding:0in 0in 0in 0in;width:71.44%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sprott Asset Management LP</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">200 Bay Street, Suite&nbsp;2700</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Toronto, Ontario</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">M5J 2J1</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kirstin McTaggart</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">416.943.6497</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">if to the Offeror or the Offeror:</font></p>    </td>   </tr>
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:86.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.</font></p>    </td>   </tr>
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:86.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suite&nbsp;2000</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:86.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">885 West Georgia Street</font></p>    </td>   </tr>
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<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vancouver, British Columbia</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">V6C 3E8</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ron Hochstein</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">604.689.4250</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="93%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:93.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">with a copy to:</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:86.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cassels Brock&nbsp;&amp; Blackwell LLP</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:86.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suite&nbsp;2200</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:86.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">885 West Georgia Street</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="86%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:86.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vancouver, British Columbia</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">V6C 3E8</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gordon R. Chambers</font></p>    </td>   </tr>
<tr>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.42%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.68%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Facsimile:</font></p>    </td>
<td width="74%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:74.56%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">604.691.6120</font></p>    </td>   </tr>
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<td width="45" style="border:none;"></td>
<td width="47" style="border:none;"></td>
<td width="86" style="border:none;"></td>
<td width="22" style="border:none;"></td>
<td width="499" style="border:none;"></td>   </tr> </table>
<p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">or to such other address, facsimile number or email address as may be designated by notice given by any party to the other. If any notice or other communication shall be given by personal delivery, a copy of such notice or communication shall also be given by facsimile. Any demand, notice or other communication given by personal delivery shall be conclusively deemed to have been given on the date of actual delivery thereof and, if given by facsimile or other means of electronic communication, on the date of transmittal thereof if given prior to 5:00&nbsp;P.M. (Toronto time) and on the next business day if not given prior to 5:00&nbsp;P.M. (Toronto time).</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.14</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Interpretation</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In this Agreement words importing the singular shall include the plural and vice versa, words importing any gender include all genders and the word person includes individuals, partnerships, associations, trusts, foundations, unincorporated organizations, limited liability companies and corporations. The inclusion of headings in this Agreement</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14<a name="20903-2-KL-03_PB_14_031010_8627"></a></font></p>
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</div>
<!-- ZEQ.=1,SEQ=14,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=766561,FOLIO='14',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is for convenience of reference only and shall not affect the construction or interpretation hereof.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.15</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Severability</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">It is intended that all provisions of this Agreement shall be fully binding and effective between the parties, but in the event that any particular provision or provisions or a part of one is found to be void, voidable or unenforceable for any reason whatever, then the particular provision or provisions shall be deemed severed from the remainder of this Agreement and all other provisions shall remain in full force.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.16</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Governing Law</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement and the rights and obligations of the parties hereto shall be governed in all respects, including validity, interpretation and effect, exclusively by the laws of the Province of Ontario and the laws of Canada applicable therein without giving effect to the principles of conflict of laws and each of the Offeror and Seller irrevocably submits to the jurisdiction of the courts of the Province of Ontario.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.17</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Counterparts</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original and all of which taken together will be deemed to constitute one and the same instrument. Delivery of an executed signature page&nbsp;to this Agreement by any party by electronic transmission will be as effective as delivery of a manually executed copy of the Agreement by such party.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.18</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Effectiveness</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement shall not become binding on either Offeror or Seller unless and until this Agreement has been executed by Offeror and delivered by Offeror to Seller.</font></p>
<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IN WITNESS WHEREOF the parties hereto have hereunto executed this Agreement:</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SPROTT ASSET MANAGEMENT LP by its general <br> partner Sprott Asset Management GP. Inc.</font></b></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:&#160;&#160;&#160;&#160; (signed) &#147;[<i>signature not legible</i>]&#148;<br> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Authorized Signatory</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executed by Offeror and delivered to Seller this 18th day of September, 2013</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DENISON MINES CORP.</font></b></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:&#160;&#160;&#160;&#160; (signed) &#147;<i>Ron F. Hochstein</i>&#148;<br> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Authorized Signatory</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15<a name="20903-2-KL-03_PB_15_031110_7906"></a></font></p>
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<!-- ZEQ.=1,SEQ=15,EFW="2216722",CP="DENISON MINES CORPORATION",DN="10",CHK=411161,FOLIO='15',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KL-03_ZCO40302.CHC",USER="RRICKEN",CD='Sep 19 06:07 2013' -->

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Schedule A</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Seller&#146;s Shares</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Common Shares:</font></p>    </td>
<td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8,373,650</font></p>    </td>   </tr>
<tr>
<td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Options:</font></p>    </td>
<td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nil</font></p>    </td>   </tr>
<tr>
<td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="27%" valign="top" style="padding:0in 0in 0in 0in;width:27.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of Warrants:</font></p>    </td>
<td width="72%" valign="top" style="padding:0in 0in 0in 0in;width:72.08%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nil</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-3.8
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<FILENAME>a2216722zex-3_8.htm
<DESCRIPTION>EX-3.8
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 3.8</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FORM&nbsp;51-102F3</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MATERIAL CHANGE REPORT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Name and Address of Company:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp. (&#147;Denison&#148; or the &#147;Company&#148;)</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">595 Bay Street, Suite&nbsp;402</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Toronto, ON M5G C2C</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Date of Material Change:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;16, 2013</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">News Release:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company issued a news release with respect to the material change referred to in this report on January&nbsp;16, 2013 via Marketwire L.P., and it was subsequently filed on SEDAR.</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Summary of Material Change:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On January&nbsp;16, 2013, Denison announced the signing of a Binding Letter of Intent (the &#147;<b>Binding LOI</b>&#148;) pursuant to which Denison will acquire a portfolio of uranium exploration projects from Fission Energy Corp. (&#147;<b>Fission</b>&#148;) including Fission&#146;s 60% interest in the Waterbury Lake uranium project, as well as Fission&#146;s exploration interests in all other properties in the eastern part of the Athabasca Basin, its interests in two joint ventures in Namibia plus its assets in Quebec and Nunavut (together, the &#147;<b>Assets</b>&#148;).&#160; Denison has agreed to offer shareholders of Fission 0.355 shares of Denison for each share of Fission held, conditional upon, among other things, certain assets of Fission being spun out to a new company (&#147;<b>NewCo</b>&#148;) to be held pro rata by current Fission shareholders (collectively, the &#147;<b>Transaction</b>&#148;).</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Full Description of Material Change:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On January&nbsp;16, 2013, Denison announced the signing of a Binding LOI pursuant to which Denison will acquire the Assets.&#160; Under the terms of the Binding LOI, Denison has agreed to offer shareholders of Fission 0.355 shares of Denison for each share of Fission held, conditional upon, among other things, certain assets of Fission being spun out to NewCo to be held pro rata by current Fission shareholders.&#160; NewCo assets will include, among others, a 50% interest in the Patterson Lake South (&#147;<b>PLS</b>&#148;) property located in the western Athabasca Basin. The Transaction values the Assets at approximately $70 million based on the closing price of Denison as of January&nbsp;15, 2013. Upon completion of the Transaction, shareholders of Fission will own approximately 11% of Denison.</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The board of directors of Fission, following consultation with its financial and legal advisors, has approved the Transaction and recommends that Fission shareholders vote in favour of the Transaction.&#160; Fission&#146;s board of directors has received a verbal opinion from Dundee Capital Markets that the consideration pursuant to the Transaction is fair, from a financial point of view, to Fission shareholders.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<!-- ZEQ.=1,SEQ=1,EFW="2216722",CP="DENISON MINES CORPORATION",DN="11",CHK=668701,FOLIO='',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KY_ZCO40302.CHC",USER="RRICKEN",CD='Sep 18 22:57 2013' -->

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<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Transaction Benefits</font></b></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Both Fission and Denison believe that the Transaction will provide a number of substantial benefits to the shareholders of both companies, including the following:</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Substantial value offered to FIS shareholders for the Assets</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The opportunity for FIS shareholders to participate in the assets of Denison, which include several advanced exploration properties plus an interest in the McClean Lake mill, as well as the highly prospective Western Athabasca exploration portfolio of NewCo</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">NewCo will hold approximately $18 million in cash, fully funded to continue future programs at PLS and elsewhere</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">NewCo will continue forward under the leadership of the same successful management team that developed Fission</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Further solidifies Denison as the consolidator of strategic assets in the Athabasca Basin, to the benefit of both sets of shareholders</font></p>
<p style="margin:0in 0in .0001pt 58.0pt;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Transaction</font></b></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison and Fission expect the Transaction will take place by way of a plan of arrangement whereby Denison and/or a wholly owned subsidiary will enter into an arrangement agreement with Fission in accordance with the terms of the Binding LOI.&#160; Pursuant to the terms of the Binding LOI, the completion of the Transaction is conditional upon a number of items, including, without limitation, approval of the shareholders of Fission, receipt of all necessary regulatory approvals, formalization of the legal structure of the Transaction, no material adverse change occurring with respect to either company, compliance by both parties with their respective obligations under the Binding LOI and satisfaction of other customary deal conditions.</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Binding LOI contains customary deal support provisions, including a reciprocal break fee of $3.5 million, payable if the proposed Transaction is not completed in certain circumstances.&#160; In addition, the Binding LOI includes customary non-solicitation covenants by Fission together with customary exemptions to permit Fission&#146;s board of directors to exercise its fiduciary duties and a right in favour of Denison to match any superior proposal that may arise.</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Full details of the Transaction will be included in the formal definitive agreement and management information circular to be filed with the regulatory authorities and mailed to Fission shareholders in accordance with applicable securities laws.&#160; All Fission shareholders are urged to read the information circular once it becomes available as it will contain additional important information about the Transaction.</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fission&#146;s outstanding options and warrants will be adjusted in accordance with their terms such that the number of Denison shares and NewCo shares received upon exercise and their respective exercise prices will reflect the exchange ratio and Transaction described above.</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The proposed transaction is expected to be completed in April&nbsp;2013 or such later date as the parties may agree. A special meeting of the shareholders of Fission will be held at a time yet to be determined to approve the Transaction.</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 22.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This news release and the information contained herein do not constitute an offer of securities for sale in the United Sates. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2<a name="20903-2-KY_PB_2_222710_7056"></a></font></p>
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<!-- ZEQ.=1,SEQ=2,EFW="2216722",CP="DENISON MINES CORPORATION",DN="11",CHK=888732,FOLIO='2',FILE="DISK135:[13ZCO2.13ZCO40302]20903-2-KY_ZCO40302.CHC",USER="RRICKEN",CD='Sep 18 22:57 2013' -->

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<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Reliance on Subsection 7.1(2)&nbsp;or (3)&nbsp;of National Instrument 51-102.</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Omitted Information:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No significant facts have been omitted from this Material Change Report.</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">8.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Executive Officer:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For further information, please contact Ron F. Hochstein, President and Chief Executive Officer of Denison Mines Corp., at the above-mentioned address or at (416) 979-1991.</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">9.</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Date of Report:</font></b></p>
<p style="margin:0in 0in .0001pt 5.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt 41.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2013</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DENISON MINES CORP.</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Per:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Ron   F. Hochstein&#148; ( Signed)</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="44%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:44.82%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ron   F. Hochstein</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President   and Chief Executive Officer</font></p>    </td>   </tr>  </table>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3<a name="20903-2-KY_PB_3_222841_5335"></a></font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.1</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Consent of Independent Auditor</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We hereby consent to the incorporation by reference in this Registration Statement on Form&nbsp;F-8 of Denison Mines Corp. of our auditor&#146;s report dated March&nbsp;7, 2013 relating to the consolidated financial statements of Denison Mines Corp. as at December&nbsp;31, 2012 and 2011 and for each of the two years ended December&nbsp;31, 2012, and the effectiveness of internal control over financial reporting, which is incorporated by reference in this Registration Statement on Form&nbsp;F-8.</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ PricewaterhouseCoopers LLP</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chartered Profession Accountants, Licensed   Public Accountants</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PricewaterhouseCoopers LLP</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Toronto, Ontario, Canada</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.2</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Consent of Independent Auditor</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We consent to the reference to our firm and to the use of our report dated October 4, 2012, with respect to the consolidated financial statements of Fission Energy Corp. incorporated by reference in the Registration Statement (Form F-8) of Denison Mines Corp. and related Offer to Purchase and Circular dated September 19, 2013 for the purchase of all of the common shares of Rockgate Capital Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Ernst&nbsp;&amp; Young LLP</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ernst&nbsp;&amp; Young LLP</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.3</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Re:&nbsp;&nbsp;Registration Statement on Form&nbsp;F-8 for Denison Mines Corp.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have acted as Canadian counsel to Denison Mines Corp. (the &#147;<b>Registrant</b>&#148;) in connection with the registration statement on Form&nbsp;F-8 (the &#147;<b>Registration Statement</b>&#148;) being filed today by the Registrant with the Securities and Exchange Commission under the United States Securities Act of 1933, as amended.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We hereby consent to the reference to our name and the inclusion of our opinion contained under &#147;Certain Canadian Federal Income Tax Considerations&#148; in the Registration Statement.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Cassels Brock&nbsp;&amp; Blackwell LLP</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cassels   Brock&nbsp;&amp; Blackwell LLP</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.4</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I hereby consent to the use of the information prepared and verified by me, and the information derived therefrom, as well as the reference to my name, in each case where used or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: September&nbsp;13, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Steve Blower</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Steve   Blower, P. Geo</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice   President Exploration</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.5</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I hereby consent to the use of the information prepared and verified by me, and the information derived therefrom, as well as the reference to my name, in each case where used or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: September&nbsp;13, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Terry V. Wetz</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Terry   V. Wetz, P.E.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice   President, Project Development</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Denison Mines Corp.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.6</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned company hereby consents to (1)&nbsp;the references to the undersigned company&#146;s name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with (a)&nbsp;the report entitled &#147;Technical Report on the Elliot Lake Property, Elliot Lake District, Ontario, Canada&#148; dated June&nbsp;29, 2007, (b)&nbsp;the report entitled &#147;Technical Report on the Uranium Exploration Properties in Mongolia&#148; dated February&nbsp;27, 2007, (c)&nbsp;the report entitled &#147;Technical Report on the Denison Mines Inc. Uranium Properties, Saskatchewan, Canada&#148; dated November&nbsp;21, 2005, as amended on February&nbsp;16, 2006, (d)&nbsp;the report entitled &#147;Technical Report on the Mineral Resource Estimate for the McClean North Uranium Deposits, Saskatchewan&#148; dated January&nbsp;31, 2007, (e)&nbsp;the report entitled &#147;Technical Report on the Sue D Uranium Deposit Mineral Resource Estimate, Saskatchewan, Canada&#148; dated March&nbsp;31, 2006, (f)&nbsp;the report entitled &#147;Technical Report on the Midwest Uranium Deposit Mineral Resource and Mineral Reserve Estimates, Saskatchewan, Canada&#148; dated June&nbsp;1, 2005, as amended on February&nbsp;14, 2006, (g)&nbsp;the report entitled &#147;The Dibwe East Project, Southern Province, Republic of Zambia&#148; dated March&nbsp;27, 2012, (h)&nbsp;the report entitled &#147;Technical Report on the Hairhan Uranium Property in Mongolia&#148; dated March&nbsp;23, 2011, (i)&nbsp;the report entitled &#147;Technical Report on a Mineral Resource Update for the Phoenix Uranium Deposits&#148; dated December&nbsp;31, 2012 and (2)&nbsp;all other references to the undersigned company included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated 19 September&nbsp;2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ROSCOE   POSTLE ASSOCIATES INC.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Deborah A. McCombe</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deborah   A. McCombe, P.Geo.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President   and CEO</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Roscoe   Postle Associates Inc.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.7</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, Leo R. Hwozdyk, P. Eng., hereby consent to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;Technical Report on the Elliot Lake Property, Elliot Lake District, Ontario, Canada&#148; dated June&nbsp;29, 2007 and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September&nbsp;19&nbsp;2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="22%" valign="top" style="padding:0in 0in 0in 0in;width:22.22%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Leo R. Hwozdyk</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Leo R. Hwozdyk, P.Eng.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<FILENAME>a2216722zex-4_8.htm
<DESCRIPTION>EX-4.8
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.8</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, Thomas C. Pool, P.E., hereby consent to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with&nbsp;the report entitled &#147;Technical Report on the Uranium Exploration Properties in Mongolia&#148; dated February&nbsp;27, 2007, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September&nbsp;19&nbsp;2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Thomas C. Pool</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thomas   C. Pool, P.E.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<DESCRIPTION>EX-4.9
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.9</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, Neil N. Gow, P. Geo., hereby consent to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;Technical Report on the Uranium Exploration Properties in Mongolia&#148; dated February&nbsp;27, 2007 and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September&nbsp;19&nbsp;2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Neil N. Gow</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Neil N. Gow, P.Geo.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.10
<SEQUENCE>21
<FILENAME>a2216722zex-4_10.htm
<DESCRIPTION>EX-4.10
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.10</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, Richard E. Routledge, M.Sc., P. Geo., hereby consent to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with (a)&nbsp;the report entitled &#147;Technical Report on the Denison Mines Inc. Uranium Properties, Saskatchewan, Canada&#148; dated November&nbsp;21, 2005, as amended on February&nbsp;16, 2006, (b)&nbsp;the report entitled &#147;Technical Report on the Mineral Resource Estimate for the McClean North Uranium Deposits, Saskatchewan&#148; dated January&nbsp;31, 2007, (c)&nbsp;the report entitled &#147;Technical Report on the Sue D Uranium Deposit Mineral Resource Estimate, Saskatchewan, Canada&#148; dated March&nbsp;31, 2006, (d)&nbsp;the report entitled &#147;Technical Report on the Midwest Uranium Deposit Mineral Resource and Mineral Reserve Estimates, Saskatchewan, Canada&#148; dated June&nbsp;1, 2005, as amended on February&nbsp;14, 2006, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September 19&nbsp;2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Richard E. Routledge</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Richard E. Routledge, M.Sc., P.Geo.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.11
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.11</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 16, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, James W. Hendry, P. Eng., hereby consent to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with (a)&nbsp;the report entitled &#147;Technical Report on the Denison Mines Inc. Uranium Properties, Saskatchewan, Canada&#148; dated November&nbsp;21, 2005, as amended on February&nbsp;16, 2006, (b)&nbsp;the report entitled &#147;Technical Report on the Sue D Uranium Deposit Mineral Resource Estimate, Saskatchewan, Canada&#148; dated March&nbsp;31, 2006, (c)&nbsp;the report entitled &#147;Technical Report on the Midwest Uranium Deposit Mineral Resource and Mineral Reserve Estimates, Saskatchewan, Canada&#148; dated June&nbsp;1, 2005, as amended on February&nbsp;14, 2006, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September 19&nbsp;2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ James W. Hendry</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="25%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">James W. Hendry, P.Eng.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.12
<SEQUENCE>23
<FILENAME>a2216722zex-4_12.htm
<DESCRIPTION>EX-4.12
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.12</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, Luke Evans, M.Sc., P.Eng., hereby consent to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;Technical Report on the Midwest Uranium Deposit Mineral Resource and Mineral Reserve Estimates, Saskatchewan, Canada&#148; dated June&nbsp;1, 2005, as amended on February&nbsp;14, 2006, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September&nbsp;19 2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Luke Evans</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="25%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Luke Evans, M.Sc., P.Eng.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.13
<SEQUENCE>24
<FILENAME>a2216722zex-4_13.htm
<DESCRIPTION>EX-4.13
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.13</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September&nbsp;19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, Hrayr Agnerian, M.Sc. (Applied), P.Geo., hereby consent to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;Technical Report on the Hairhan Uranium Exploration Property in Mongolia&#148; dated March&nbsp;23, 2011, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September&nbsp;19 2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Hrayr Agnerian</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hrayr Agnerian, M.Sc. (Applied), P.Geo.</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.14
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<FILENAME>a2216722zex-4_14.htm
<DESCRIPTION>EX-4.14
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.14</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF ENGINEER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned hereby consents to (1)&nbsp;the references to the undersigned&#146;s name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;Technical Report on the Midwest A Uranium Deposit of Saskatchewan, Canada&#148; dated January&nbsp;31, 2008, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: September 16, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Michel Dagbert</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michel   Dagbert, P.Eng.<br>   SGS Geostat Ltd.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.15
<SEQUENCE>26
<FILENAME>a2216722zex-4_15.htm
<DESCRIPTION>EX-4.15
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.15</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF ENGINEER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned hereby consents to (1)&nbsp;the references to the undersigned&#146;s name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;The NI 43-101 Technical Report Mutanga Project, Located in Southern Province, Republic of Zambia&#148; dated March&nbsp;19, 2009, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: September&nbsp;17, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Malcolm Titley</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Malcolm   Titley, B.Sc., MAusIMM, MAIG </font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CSA   Global (UK) Ltd.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
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<TYPE>EX-4.16
<SEQUENCE>27
<FILENAME>a2216722zex-4_16.htm
<DESCRIPTION>EX-4.16
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.16</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF ENGINEER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned hereby consents to (1)&nbsp;the references to the undersigned&#146;s name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;The Dibwe East Project, Southern Province, Republic of Zambia&#148; dated March&nbsp;27, 2012, and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: September&nbsp;17, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Mark B. Mathisen</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark   B. Mathisen, B.Sc., P.G.<br>   Denison Mines Corp.</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.17
<SEQUENCE>28
<FILENAME>a2216722zex-4_17.htm
<DESCRIPTION>EX-4.17
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.17</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF EXPERT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">September 19, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I, William E. Roscoe, Ph.D., P.Eng., hereby consents to (1)&nbsp;the references to my name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with (a)&nbsp;the report entitled &#147;Technical Report on the Hairhan Uranium Exploration Property in Mongolia&#148; dated March&nbsp;23, 2011, (b)&nbsp;the report entitled &#147;The Dibwe East Project, Southern Province, Republic of Zambia&#148; dated March&nbsp;27, 2012, (c)&nbsp;the report entitled &#147;Technical Report on a Mineral Resource Update for the Phoenix Uranium Deposits&#148; dated December&nbsp;31, 2012 and (2)&nbsp;all other references to the undersigned included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. dated September&nbsp;19 2013.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ William E. Roscoe</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William E. Roscoe, Ph.D., P.Eng.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<TYPE>EX-4.18
<SEQUENCE>29
<FILENAME>a2216722zex-4_18.htm
<DESCRIPTION>EX-4.18
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.18</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF ENGINEER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned company hereby consents to (1)&nbsp;the references to the undersigned company&#146;s name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;The NI 43-101 Technical Report Mutanga Project, Located in Southern Province, Republic of Zambia&#148; dated March&nbsp;19, 2009 and (2)&nbsp;all other references to the undersigned company included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: September 17, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CSA   GLOBAL (UK) LTD.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   Malcolm Titley</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:   Malcolm Titley</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:   Director/Principal</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="31" style="border:none;"></td>
<td width="343" style="border:none;"></td>
<td width="374" style="border:none;"></td>   </tr> </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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</div>
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<TYPE>EX-4.19
<SEQUENCE>30
<FILENAME>a2216722zex-4_19.htm
<DESCRIPTION>EX-4.19
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 4.19</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONSENT OF ENGINEER</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned company hereby consents to (1)&nbsp;the references to the undersigned company&#146;s name included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp. in connection with the report entitled &#147;Technical Report on the Midwest A Uranium Deposit of Saskatchewan, Canada&#148; dated January&nbsp;31, 2008 and (2)&nbsp;all other references to the undersigned company included or incorporated by reference in the registration statement on Form&nbsp;F-8 of Denison Mines Corp.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: September 16, 2013</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SGS GEOSTAT LTD.</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Michel Dagbert</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Michel Dagbert</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Senior Consultant</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr height="0">
<td width="30" style="border:none;"></td>
<td width="344" style="border:none;"></td>
<td width="374" style="border:none;"></td>   </tr> </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
