<SEC-DOCUMENT>0001654954-21-003979.txt : 20210408
<SEC-HEADER>0001654954-21-003979.hdr.sgml : 20210408
<ACCEPTANCE-DATETIME>20210408113046
ACCESSION NUMBER:		0001654954-21-003979
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210408
FILED AS OF DATE:		20210408
DATE AS OF CHANGE:		20210408

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:		21814221

	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 APRIL 8, 2021
<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: 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; margin-right: 0px; margin-left: 0px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER 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;">UNDER 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: April 8, 2021</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;">Commission File Number:</font> <font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">001-33414</font></div>
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<div style="text-align: center; text-indent: 0px; padding-bottom: 2.7px; margin-right: 0px; margin-left: 0px; line-height: 1;"><font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 32px; font-weight: bold;">Denison Mines Corp.</font>&#xA0;<br></font></div>
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registrant)</font></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>
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<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px; line-height: 1; padding-top: 8px;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">1100-40 University Avenue</font> <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
<div style="text-align: center; text-indent: 0px; padding-top: 8px; margin-right: 0px; margin-left: 0px; line-height: 1;"><font style="font-family: Times New Roman; font-size: 13px; font-weight: bold;">Toronto Ontario</font></div>
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</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;">&#xA0;<font style="font-style: italic">(Address of
principal executive offices)</font></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;">&#xA0;Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or Form
40-F.</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;">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>
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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>
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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<br></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-weight: bold">DENISON MINES
CORP.</font><br></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-style: italic;">/s/ Amanda Willett</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;">Date<font style="font-weight: bold;">:&#xA0;</font> April
8, 2021</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>
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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;">Vice
President Legal and Corporate Secretary</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;"><font style="font-weight: bold;">FORM 6-K
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>
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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>
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<div style="text-align: center">&#xA0;99.1<font>&#xA0;</font></div>
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<div style="text-align: left"><font><a href="a20210406-dmcprapr2021ann.htm">Press release dated April 6,
2021</a>&#xA0;<br></font></div>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a20210406-dmcprapr2021ann.htm
<DESCRIPTION>PRESS RELEASE DATED APRIL 8, 2021
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<title>a20210406-dmcprapr2021ann</title>
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<font style="font-family: Arial; font-size: 11px;"><font style="font-weight: bold">Exhibit 99.1</font><br></font></div>
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<div style="text-align: right"><font>&#xA0;</font><font style="font-family: Arial; font-size: 11px">Denison Mines Corp.</font>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Arial; font-size: 11px">1100 &#x2013; 40
University Ave</font></div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Arial; font-size: 11px">Toronto, ON M5J
1T1</font></div>
<div style="text-align: right; margin-left: 24px; margin-right: 0px; text-indent: 0px">
<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 EXECUTION OF AGREEMENTS</font></div>
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WITH THE ENGLISH RIVER FIRST NATION</font></div>
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<font style="font-family: Arial; font-size: 12px"><font style="font-weight: bold; color: #000000">Toronto, ON &#x2013; April 6,
2021. 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 it has entered into a Participation and Funding
Agreement (the &#x201C;Participation Agreement&#x201D;) and Letter of
Intent (the &#x201C;LOI&#x201D;) with the English River First Nation
(&#x201C;ERFN&#x201D;) in connection with the advancement of the
proposed in-situ recovery (&#x201C;ISR&#x201D;) uranium mining
operation at Denison&#x2019;s 90% owned Wheeler River Uranium
Project (&#x201C;Wheeler River Project&#x201D;), which is located in
the eastern portion of the Athabasca Basin region, in northern
Saskatchewan. Additionally, Denison and ERFN have also entered into
an Exploration Agreement (the &#x201C;Exploration Agreement&#x201D;)
in respect of Denison&#x2019;s exploration and evaluation activities
within the ERFN traditional territories.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Arial; font-size: 12px">These
agreements reflect Denison&#x2019;s desire to operate its business
in a progressive and sustainable manner that respects ERFN rights
and advances reconciliation with Indigenous peoples. The agreements
provide ERFN with economic opportunities and other benefits, while
establishing a foundation for future collaboration in an authentic,
cooperative, and respectful way &#x2013; designed to cultivate a
long-term partnership in support of the Company&#x2019;s activities,
including the advancement of the Company&#x2019;s flagship Wheeler
River Project, which is currently advancing through a Federal and
Provincial Environmental Assessment (&#x201C;EA&#x201D;)
process.</font></div>
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<font style="font-family: Arial; font-size: 12px"><font style="color: #000000">David Cates, President &amp; CEO of Denison
commented,</font> <font style="font-weight: bold; font-style: italic; color: #000000">&#x201C;Many
of Denison&#x2019;s interests in the Athabasca Basin region,
including our flagship Wheeler River Project, are situated in the
traditional territory of ERFN. We acknowledge and respect the
rights of ERFN and are pleased to formalize our Company&#x2019;s
effort to work with ERFN in the pursuit of achieving (1) a genuine
understanding of the interests of the Nation, and (2) meaningful
mutual benefits from Denison&#x2019;s activities. We feel strongly
that the future of the Wheeler River Project will be greatly
enhanced by partnering with ERFN &#x2013; ensuring Indigenous
knowledge regarding historical and contemporary land use,
environmental knowledge, and environmental stewardship associated
with ERFN&#x2019;s connection to this land, are all embedded as
essential components of the EA process and project designs.
Together, Denison and ERFN are putting reconciliation principles
into action and contributing to the important evolution of
Indigenous and industry relationships in the province of
Saskatchewan.&#x201D;</font></font></div>
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<font style="font-family: Arial; font-size: 12px"><font style="color: #000000">Chief Jerry Bernard, of ERFN, added,</font>
<font style="font-weight: bold; font-style: italic; color: #000000">"We look
forward to building on our positive relationship with Denison
Mines. The participation and exploration agreements underscore the
importance of starting in a good way. That means recognizing and
considering ERFN&#x2019;s rights and traditional land and resources
uses in all proposed activities on our ancestral lands. The
agreements will provide benefits for our community by providing
employment and contracting opportunities, annual financial
contributions and the ability to help shape project activities to
minimize environmental impacts.&#x201D;</font></font></div>
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<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Arial; font-size: 12px">
Participation Funding Agreement &amp; Letter of Intent</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Arial; font-size: 12px"><font style="color: #000000">The Participation Agreement and
LOI</font><font style="font-weight: bold; color: #000000">&#xA0;</font><font style="color: #000000">outline a mutually agreeable framework and
applicable funding arrangements to facilitate ERFN&#x2019;s
participation and engagement in the EA process for the Wheeler
River Project &#x2013; including ERFN&#x2019;s meaningful
contribution to Denison&#x2019;s environmental understanding of the
Wheeler River Project in a holistic way that respects ERFN&#x2019;s
rights and interests. The LOI also outlines a mutual desire to
co-develop a future Shared Prosperity Agreement with respect to the
Wheeler River Project, which is intended to reflect a shared vision
of how new uranium mining operations in the Athabasca Basin region
can prioritize sustainability while also offering new and creative
ways to generate wealth and prosperity for all parties involved in
the advancement of the Project.</font></font></div>
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<font style="text-decoration: underline; color: #000000; font-weight: bold; font-family: Arial; font-size: 12px">
Exploration Agreement</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Arial; font-size: 12px">The
Exploration Agreement establishes a framework for a cooperative and
mutually beneficial relationship between Denison and ERFN whereby
Denison&#x2019;s exploration and evaluation activities are consented
to by ERFN and Denison agrees to support ERFN&#x2019;s interests in
relation to community development and benefits, environmental
protection and monitoring, as well as sustainable and predictable
consultation and engagement processes. Through this cooperative
approach, the parties seek to continue building a strong and
positive foundation for Denison to proceed with its exploration and
evaluation activities, in the traditional territory of ERFN, in a
manner that is informed by and respects the rights and interests of
ERFN.</font></div>
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<font style="font-weight: bold; font-style: italic; font-family: Arial; font-size: 12px">
About ERFN</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">
English River First Nation is located about 500 km north of
Saskatoon in Treaty 10, with a main settlement at Patuanak,
alongside the Churchill River. ERFN has seven different reserves:
Porter Island, Cree Lake, Elak Dase, Knee Lake, Dipper Rapids,
Wapachewunak and La Plonge.</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">
ERFN is a multilingual community with various combinations of Dene,
Cree, Michif, English and French spoken by over 1,400 members. The
&#x201C;people of the river&#x201D; are known for their bold and
collaborative spirit and trusting and humble nature. They are
dedicated to stewardship of the land and the education of future
generations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<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">
An industrious and entrepreneurial group, ERFN has led the way in
efficient economic relationship building through its support and
advancement of community development partnerships. These
relationships have been instrumental in advancing community support
and understanding across northern Saskatchewan.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; font-style: italic; font-family: Arial; font-size: 12px">
About Wheeler River</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<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> (1,809,000 tonnes
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> (82,000 tonnes 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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<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">
A Pre-Feasibility Study (&#x201C;PFS&#x201D;) was completed for
Wheeler River 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
Phoenix ISR operation 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 Wheeler River Joint Venture
are subject to different tax and other obligations.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Arial; font-size: 12px">
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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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Arial; font-size: 12px">
Denison suspended certain activities at Wheeler River during 2020,
including the EA process, which is on the critical path to
achieving the project development schedule outlined in the PFS.
While the EA process has resumed, the Company is not currently able
to estimate the impact of the 2020 suspension on the project
development schedule outlined in the PFS, and users are cautioned
against relying on the estimates provided therein regarding the
start of pre-production activities in 2021 and first production in
2024.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-style: italic; font-family: Arial; font-size: 12px">
About Denison</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<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 the Wheeler River project,
Denison's interests in the Athabasca Basin include a 22.5%
ownership interest in the McClean Lake joint venture ("MLJV"),
which includes several uranium deposits and the McClean Lake
uranium mill that is contracted to process the 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 66.90% interest in the
Tthe Heldeth T&#xFA;&#xE9; ("THT," formerly J Zone) and Huskie
deposits on the Waterbury Lake property. The Midwest, Midwest A,
THT and Huskie deposits are located within 20 kilometres of the
McClean Lake mill. In addition, Denison has an extensive portfolio
of exploration projects covering approximately 270,000 hectares in
the Athabasca Basin region.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Arial; font-size: 12px">
Denison is engaged in mine decommissioning and environmental
services through its Closed Mines group (formerly Denison
Environmental Services), which manages Denison's Elliot Lake
reclamation projects and provides post-closure mine care and
maintenance services to a variety of industry and government
clients.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Arial; font-size: 12px">
Denison is also the manager of Uranium Participation Corp., a
publicly traded company which invests in uranium oxide and uranium
hexafluoride.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Arial; font-size: 12px">
For more information, please contact</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Arial; font-size: 12px">David
Cates&#xA0;&#xA0;(416) 979-1991 ext 362</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Arial; font-size: 12px">President and
Chief Executive Officer</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Arial; font-size: 12px">Sophia
Shane&#xA0;&#xA0;(604) 689-7842</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Arial; font-size: 12px">Investor
Relations</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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In particular, this news release contains forward-looking
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objectives regarding engagement with respect to the Wheeler River
project, including participation funding and the co-development of
a shared prosperity agreement; expectations with respect to
exploration and intended cooperation with ERFN with respect
thereto; development and expansion plans and objectives, generally;
and expectations regarding its joint venture ownership interests
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or achievements of Denison to be materially different from those
expressed or implied by such forward-looking statements. For
example, the modelling and assumptions upon which the work plans
for exploration and/or the Wheeler River Project are based may not
be maintained after further work is completed. In addition, Denison
may decide or otherwise be required to discontinue exploration,
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and planned completion of the EA process at Wheeler River, if it is
unable to maintain or otherwise secure the necessary resources
(such as testing facilities, capital funding, regulatory approvals,
etc.) or operations are otherwise affected by COVID-19 and its
potentially far-reaching impacts. This may impact Denison&#x2019;s
ability to meet the objectives stated in this press release, or the
objectives of Denison and ERFN could become misaligned. Denison
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that could influence forward-looking events, please refer to the
factors discussed in Denison&#x2019;s Annual Information Form dated
March 13, 2020 or subsequent quarterly financial reports under the
heading &#x2018;Risk Factors&#x2019;. These factors are not, and
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assumptions made with respect thereto speaks only as of the date of
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<font style="font-weight: bold">Cautionary Note to United States
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or &#x201C;probable&#x201D; mineral reserves, which are terms defined
with reference to the guidelines set out in the Canadian Institute
of Mining, Metallurgy and Petroleum (&#x201C;CIM&#x201D;) CIM
Definition Standards on Mineral Resources and Mineral Reserves
(&#x201C;CIM Standards&#x201D;). The Company&#x2019;s descriptions of
its projects using CIM Standards may not be comparable to similar
information made public by U.S. companies subject to the reporting
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