<SEC-DOCUMENT>0001654954-19-006859.txt : 20190603
<SEC-HEADER>0001654954-19-006859.hdr.sgml : 20190603
<ACCEPTANCE-DATETIME>20190603130813
ACCESSION NUMBER:		0001654954-19-006859
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190603
FILED AS OF DATE:		20190603
DATE AS OF CHANGE:		20190603

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:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33414
		FILM NUMBER:		19872822

	BUSINESS ADDRESS:	
		STREET 1:		40 UNIVERSITY AVE., SUITE 1100
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 1T1
		BUSINESS PHONE:		(416) 979-1991

	MAIL ADDRESS:	
		STREET 1:		40 UNIVERSITY AVE., SUITE 1100
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 1T1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL URANIUM CORP
		DATE OF NAME CHANGE:	19980603
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>FORM 6-K DATED JUNE 3, 2019
<TEXT>
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<div style="text-align: center; text-indent: 0px; padding-top: 5.3px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 24px; font-weight: bold;">UNITED STATES</font></div>
<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 24px; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Washington, D.C. 20549</font></div>
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<div style="text-align: justify; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 24px; font-weight: bold;">FORM 6-K</font></div>
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<div style="text-align: center; text-indent: 0px; padding-bottom: 2.7px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; width: 100%; text-indent: 0px; margin-right: 0px; margin-left: 0px; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><!--Rule Below Paragraph--></div>
<div style="text-align: justify; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Report of Foreign Private Issuer</font></div>
<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16</font></div>
<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">of the Securities Exchange Act of 1934</font></div>
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<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Date: June 3, 2019</font></div>
<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Commission File Number: 001-33414</font></div>
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<div style="text-align: left; width: 100%; text-indent: 0px; margin-right: 0px; margin-left: 0px; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><!--Rule Below Paragraph--></div>
<div style="text-align: justify; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 32px; font-weight: bold;">Denison Mines Corp.</font></div>
<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">(Translation of registrant&#x2019;s name into
English)</font></div>
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<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">1100-40 University Avenue, Toronto Ontario, M5J 1T1
Canada</font></div>
<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">(Address of principal executive offices)</font></div>
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<div style="text-align: center; text-indent: 0px; padding-bottom: 2.7px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; width: 100%; text-indent: 0px; margin-right: 0px; margin-left: 0px; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><!--Rule Below Paragraph--></div>
<div style="text-align: justify; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form
40-F.</font></div>
<div style="text-align: justify; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Form
20-F&#xA0;&#xA0;&#x2610;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Form&#xA0;&#xA0;&#xA0;&#xA0;40-F&#xA0;&#xA0;&#xA0;&#x2612;</font></div>
<div style="text-align: justify; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1):&#xA0;&#xA0;&#x2610;</font></div>
<div style="text-align: left; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7):&#xA0;&#xA0;&#x2610;</font></div>
<div style="text-align: justify; text-indent: 0px; margin-right: 0px; margin-left: 0px;"></div>
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<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Signatures</font></div>
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<div style="text-align: left; text-indent: 0px; padding-top: 16px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.</font></div>
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<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Denison Mines Corp.</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<td colspan="3" style="width: 48%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 2px; border-bottom-style: solid;">
<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-style: italic;">/s/ Amanda Willett</font></div>
</td>
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<td style="width: 47%; vertical-align: top;">
<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Date<font style="font-weight: bold;">:&#xA0;</font> June 3,
2019</font></div>
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<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Amanda
Willett</font></div>
</td>
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<td style="width: 47%; vertical-align: top;">
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<td colspan="3" style="width: 48%; vertical-align: top;">
<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Corporate Counsel and Corporate Secretary</font></div>
</td>
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</div>
<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;"><font style="font-weight: bold;">EXHIBIT
INDEX</font></font></div>
<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Exhibit&#xA0;Number</font></div>
</td>
<td style="width: 5%; vertical-align: bottom;">
<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;&#xA0;</font></div>
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<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">Description</font></div>
</td>
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<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">99.1</font></div>
</td>
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<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
</td>
<td style="width: 85%; vertical-align: top;">
<div style="text-align: left; text-indent: 0px; margin-right: 0px; margin-left: 0px;"><a href="a2019-0603dmcnrprojectdes.htm"><font style="font-family: Times New Roman; font-size: 13px;">Press
release dated June 3, 2019</font></a></div>
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</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a2019-0603dmcnrprojectdes.htm
<DESCRIPTION>ADDITIONAL EXHIBITS
<TEXT>
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<font style="font-family: Arial; font-size: 11px">Denison Mines
Corp.</font></div>
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<font style="font-family: Arial; font-size: 11px">1100 &#x2013; 40
University Ave</font></div>
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<font style="font-family: Arial; font-size: 11px">Toronto, ON M5J
1T1</font></div>
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<font style="font-family: Arial; font-size: 11px">www.denisonmines.com</font></div>
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<font style="color: #000000; font-family: Arial; font-size: 13px">PRESS
RELEASE</font></div>
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DENISON ANNOUNCES INITIATION OF ENVIRONMENTAL IMPACT
ASSESSMENT</font></div>
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PROCESS AND EXECUTION OF MOU WITH LOCAL COMMUNITIES FOR
THE</font></div>
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WHEELER RIVER PROJECT</font></div>
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<font style="font-family: Arial; font-size: 12px"><font style="font-weight: bold; color: #000000">Toronto, ON &#x2013; June 3,
2019. Denison Mines Corp.</font> <font style="color: #000000">(&#x201C;Denison&#x201D; or the
&#x201C;Company&#x201D;) (DML: TSX, DNN: NYSE American) is pleased to
announce that the Canadian Nuclear Safety Commission ("CNSC") and
the Saskatchewan Ministry of Environment ("SK MOE") have accepted
the Provincial Technical Proposal and Federal Project Description
(the &#x201C;Project Description&#x201D;) submitted by Denison for
the In-Situ Recovery (&#x201C;ISR&#x201D;) uranium mine and
processing plant proposed for the Company&#x2019;s 90% owned Wheeler
River Project (&#x201C;Wheeler River&#x201D; or the
&#x201C;Project&#x201D;). Denison is also pleased to announce that it
has executed a series of Memoranda of Understanding (the
&#x201C;MOUs&#x201D;) with Indigenous communities in support of the
advancement of the Project.</font></font></div>
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<font style="font-family: Arial; font-size: 12px"><font style="color: #000000">David Cates, President and CEO of Denison
commented,&#xA0;&#x201C;</font><font style="font-style: italic; color: #000000">Acceptance of the Project
Description by the regulatory agencies is a critical first step for
the development of the Wheeler River Project. The Company is
excited to continue working with Indigenous communities, regulatory
agencies, and the public during the environmental assessment
process &#x2013; to achieve the Company&#x2019;s objectives of
advancing Wheeler River through the Environmental Impact Assessment
(&#x201C;EIA&#x201D;), regulatory approval, and feasibility study
processes.</font></font></div>
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<font style="color: #000000">Successfully engaging, and entering
into MOUs with local Indigenous communities, ahead of the
initiation of the EIA process,</font> signals strong support for
the advancement of Wheeler River in future years. We look forward
to building on the relationships that we&#x2019;ve established over
the past several years to develop a collaborative vision for the
future of the Project.<font style="color: #000000">&#x201D;</font></font></div>
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Project Description</font></div>
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<font style="font-family: Arial; font-size: 12px"><font style="color: #000000">Acceptance of the Project Description is the first
formal step to officially commence the EIA process in accordance
with the requirements of both the</font> <font style="font-style: italic; color: #000000">Canadian Environmental
Assessment Act, 2012</font> <font style="color: #000000">(Canada)
(&#x201C;CEAA 2012&#x201D;) and</font> <font style="font-style: italic; color: #000000">The Environmental Assessment
Act</font> <font style="color: #000000">(Saskatchewan). The Project
Description outlines the major components of the Project and the
potential interactions with the environment. The executive summary
of the Project Description is available in English, French, Dene
and Cree on the Company&#x2019;s website at</font> <font style="text-decoration: underline; color: #0000FF">www.denisonmines.com</font><font style="color: #000000">.</font></font></div>
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<font style="font-family: Arial; font-size: 12px">The CNSC and the
SK MOE are expected to carry out a coordinated Federal-Provincial
EIA that will follow the spirit of the Canada-Saskatchewan
Agreement on Environmental Assessment Cooperation (2005), to the
extent possible. The cooperation agreement allows for the
production of a single Environmental Impact Statement for the
Project (the &#x201C;Project EIS&#x201D;), which is intended to
present the findings of the EIA in accordance with the requirements
of both levels of government. A successful EIA process is critical
to securing the approvals necessary to develop and operate a mine
in Canada.</font></div>
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<font style="color: #000000; font-family: Arial; font-size: 12px">The
Company identified the EIA process as a key element of the
Project's critical path. Accordingly, Denison plans to initiate
various studies and assessments as part of the EIA process, which
is intended to culminate in the preparation of the Project EIS. The
EIA is a planning and decision-making tool, which involves
predicting potential environmental effects throughout the project
lifecycle (construction, operation, decommissioning and
post-decommissioning) at the site, and within the local and
regional assessment areas. The EIA objectives are to minimize or
avoid adverse environmental effects before they occur and
incorporate environmental factors into decision making processes.
In addition to predictions made, effective monitoring programs will
be developed based on results of the assessments and implemented as
part of the &#x201C;plan, do, check, act&#x201D; style system for
continual improvement and adaptive management. The EIA work builds
upon the comprehensive environmental baseline dataset Denison has
prepared for the Project, and feedback collected from engagement
activities completed to date.</font></div>
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Environmental Advantages of the Proposed Wheeler River
Project</font></div>
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<font style="color: #000000; font-family: Arial; font-size: 12px">After
careful consideration of the strong economic results produced by
the Pre-Feasibility Study ("PFS"), prepared in accordance with NI
43-101 for the Project in late 2018, Denison and the Wheeler River
Joint Venture (&#x201C;WRJV&#x201D;) approved plans to initiate the
EIA process as well as the engineering studies and related programs
required to advance the development of an ISR mining operation,
highlighted by the high-grade Phoenix deposit, with an on-site
processing plant (see Denison&#x2019;s news release dated December
18, 2018).</font></div>
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<font style="color: #000000; font-family: Arial; font-size: 12px">As
outlined within the Project Description, the Company&#x2019;s
evaluation of the ISR mining method has identified several
significant environmental and permitting advantages &#x2013;
particularly when compared to the impacts associated with
conventional uranium mining in Canada. The Project&#x2019;s ISR
mining operation is expected to produce no tailings, generate very
small volumes of waste rock, and has the potential for low volumes
or possibly no water discharge to surface water bodies, as well as
the potential to use the existing power grid to operate on a near
zero carbon emissions basis. The proposed use of a freeze wall, to
encapsulate the ore zone and contain the mining solution used in
the ISR operation, streamlines the mining process, minimizes
interaction with the environment, and facilitates controlled
reclamation of the site at decommissioning. Taken together, the
Project has the potential to be one of the most environmentally
friendly uranium mining and processing operations in the world.
Owing largely to these benefits, engagement with local Indigenous
communities, the public, and federal and provincial
representatives, to date, has been encouraging regarding the use of
ISR mining.</font></div>
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Community Support</font></div>
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<font style="color: #000000; font-family: Arial; font-size: 12px">As
reported within the Project Description, Denison has executed a
series of MOUs, in support of the advancement of the Project, with
a number of Indigenous communities who assert that the Project
falls partially or entirely within their traditional territories,
and where traditional land use activities are currently practiced
within the local and regional area surrounding the
Project.</font></div>
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<font style="color: #000000; font-family: Arial; font-size: 12px">These
non-binding MOUs formalize the signing parties&#x2019; intent to
work together in a spirit of mutual respect and cooperation in
order to collectively identify practical means by which to avoid,
mitigate, or otherwise address potential impacts of the Project
upon the exercise of Indigenous rights, Treaty rights, and other
interests, as well as to facilitate sharing in the benefits that
will flow from the Project. The MOUs provide a process for
continued engagement and information-sharing and establish a
platform to identify business, employment and training
opportunities for the parties with respect to the
Project.</font></div>
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About Wheeler River</font></div>
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<font style="font-style: italic; font-family: Arial; font-size: 12px">
Wheeler River is the largest undeveloped uranium project in the
infrastructure rich eastern portion of the Athabasca Basin region,
in northern Saskatchewan &#x2013; including combined Indicated
Mineral Resources of 132.1 million pounds U<font style="font-size: 70%; vertical-align: bottom">3</font>O<font style="font-size: 70%; vertical-align: bottom">8</font> at an average
grade of 3.3% U<font style="font-size: 70%; vertical-align: bottom">3</font>O<font style="font-size: 70%; vertical-align: bottom">8</font>, plus combined
Inferred Mineral Resources of 3.0 million pounds U<font style="font-size: 70%; vertical-align: bottom">3</font>O<font style="font-size: 70%; vertical-align: bottom">8</font> at an average
grade of 1.7% U<font style="font-size: 70%; vertical-align: bottom">3</font>O<font style="font-size: 70%; vertical-align: bottom">8</font>. The project is
host to the high-grade Phoenix and Gryphon uranium deposits,
discovered by Denison in 2008 and 2014, respectively, and is a
joint venture between Denison (90% and operator) and JCU (Canada)
Exploration Company Limited (10%).</font></div>
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A PFS was completed in late 2018, considering the potential
economic merit of developing the Phoenix deposit as an ISR
operation and the Gryphon deposit as a conventional underground
mining operation. Taken together, the project is estimated to have
mine production of 109.4 million pounds U<font style="font-size: 70%; vertical-align: bottom">3</font>O<font style="font-size: 70%; vertical-align: bottom">8</font> over a 14-year
mine life, with a base case pre-tax NPV of $1.31 billion (8%
discount rate), Internal Rate of Return ("IRR") of 38.7%, and
initial pre-production capital expenditures of $322.5 million. The
ISR operation planned for the Project includes the mining of the
Phoenix deposit, which is estimated to have a stand-alone base case
pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%,
initial pre-production capital expenditures of $322.5 million, and
industry leading average operating costs of US$3.33/lb
U<font style="font-size: 70%; vertical-align: bottom">3</font>O<font style="font-size: 70%; vertical-align: bottom">8</font>.
The PFS is prepared on a project (100% ownership) and pre-tax
basis, as each of the partners to the WRJV are subject to different
tax and other obligations.</font></div>
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Further details regarding the PFS, including additional scientific
and technical information, as well as after-tax results
attributable to Denison's ownership interest, are described in
greater detail in the NI 43-101 Technical Report titled
"Pre-feasibility Study for the Wheeler River Uranium Project,
Saskatchewan, Canada" dated October 30, 2018 with an effective date
of September 24, 2018. A copy of this report is available on
Denison's website and under its profile on SEDAR at www.sedar.com
and on EDGAR at www.sec.gov/edgar.shtml.</font></div>
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About Denison</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-style: italic; font-family: Arial; font-size: 12px">
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. In addition to its 90% owned Wheeler River
Project, Denison&#x2019;s Athabasca Basin exploration portfolio
consists of numerous projects covering approximately 310,000
hectares. Denison&#x2019;s interests in the Athabasca Basin also
include a 22.5% ownership interest in the McClean Lake joint
venture (&#x201C;MLJV&#x201D;), which includes several uranium
deposits and the McClean Lake uranium mill, which is currently
processing ore from the Cigar Lake mine under a toll milling
agreement, plus a 25.17% interest in the Midwest and Midwest A
deposits, and a 66.51% interest in the J Zone and Huskie deposits
on the Waterbury Lake property. Each of Midwest, Midwest A, J Zone
and Huskie are located within 20 kilometres of the McClean Lake
mill.</font></div>
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<font style="font-style: italic; font-family: Arial; font-size: 12px">
Denison is also engaged in mine decommissioning and environmental
services through its Denison Environmental Services division and is
the manager of Uranium Participation Corp., a publicly traded
company which invests in uranium oxide and uranium
hexafluoride.</font></div>
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For more information, please contact</font></div>
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<font style="font-family: Arial; font-size: 12px">David
Cates</font></div>
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<font style="font-family: Arial; font-size: 12px">(416) 979-1991
ext 362</font></div>
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<font style="font-family: Arial; font-size: 12px">President and
Chief Executive Officer</font></div>
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<font style="font-family: Arial; font-size: 12px">Sophia
Shane</font></div>
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<font style="font-family: Arial; font-size: 12px">(604)
689-7842</font></div>
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In particular, this news release contains forward-looking
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plans and objectives, including the results of the PFS and plans
for the EA and other regulatory and feasibility study processes for
Wheeler River; expectations regarding Denison&#x2019;s community
engagement and MOUs with local communities; and expectations
regarding its joint venture ownership interests and the continuity
of its agreements with its partners. Statements relating to
'mineral reserves' or 'mineral resources' are deemed to be
forward-looking information, as they involve the implied
assessment, based on certain estimates and assumptions that the
mineral reserves and mineral resources described can be profitably
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Forward looking statements are based on the opinions and estimates
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subject to known and unknown risks, uncertainties and other factors
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or achievements of Denison to be materially different from those
expressed or implied by such forward-looking statements. Denison
believes that the expectations reflected in this forward-looking
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expectations will prove to be accurate and results may differ
materially from those anticipated in this forward-looking
information. For a discussion in respect of risks and other factors
that could influence forward-looking events, please refer to the
factors discussed in Denison&#x2019;s Annual Information Form dated
March 12, 2019 under the heading &#x2018;Risk Factors&#x2019;. These
factors are not, and should not be construed as being
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<a name="_DV_M53"><!--anchor--></a>Accordingly,
readers should not place undue reliance on forward-looking
statements. The forward-looking information contained in this news
release is expressly qualified by this cautionary statement. Any
forward-looking information and the assumptions made with respect
thereto speaks only as of the date of this news release. Denison
does not undertake any obligation to publicly update or revise any
forward-looking information after the date of this news release to
conform such information to actual results or to changes in
Denison's expectations except as otherwise required by applicable
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<font style="font-family: Arial; font-size: 11px"><font style="font-weight: bold">Cautionary Note to United States Investors
Concerning Estimates of Measured, Indicated and Inferred Mineral
Resources and Probable Mineral Reserves:</font> This news release
may use the terms 'measured', 'indicated' and 'inferred' mineral
resources. United States investors are advised that while such
terms have been prepared in accordance with the definition
standards on mineral reserves of the Canadian Institute of Mining,
Metallurgy and Petroleum referred to in Canadian National
Instrument 43-101 Mineral Disclosure Standards ("NI 43-101") and
are recognized and required by Canadian regulations, the United
States Securities and Exchange Commission ("SEC") does not
recognize them. 'Inferred mineral resources' have a great amount of
uncertainty as to their existence, and as to their economic and
legal feasibility. It cannot be assumed that all or any part of an
inferred mineral resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feasibility or other economic
studies. <font style="font-weight: bold">United States investors
are cautioned not to assume that all or any part of measured or
indicated mineral resources will ever be converted into mineral
reserves. United States investors are also cautioned not to assume
that all or any part of an inferred mineral resource exists, or is
economically or legally mineable.</font> References to estimates of
mineral reserves in this news release have been prepared in
accordance with NI 43-101. The definition of probable mineral
reserves used in NI 43-101 differs from the definition used by the
SEC in the SEC's Industry Guide 7. Under the requirements of the
SEC, mineralization may not be classified as a "reserve" unless the
determination has been made, pursuant to a "final" feasibility
study that the mineralization could be economically and legally
produced or extracted at the time the reserve determination is
made. Denison has not prepared a feasibility study for the purposes
of NI 43-101 or the requirements of the SEC. Accordingly, Denison's
probable mineral reserves disclosure may not be comparable to
information from U.S. companies subject to the reporting and
disclosure requirements of the SEC.</font></div>
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