<SEC-DOCUMENT>0001104659-23-108354.txt : 20231010
<SEC-HEADER>0001104659-23-108354.hdr.sgml : 20231010
<ACCEPTANCE-DATETIME>20231010171210
ACCESSION NUMBER:		0001104659-23-108354
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20231010
FILED AS OF DATE:		20231010
DATE AS OF CHANGE:		20231010

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:		231318720

	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>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2327329d3_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date:</B></FONT><B>
October&nbsp;10, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number:&nbsp; <B>001-33414</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Denison Mines Corp.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Name of registrant</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1100-40 University Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Toronto, Ontario</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>M5J 1T1 Canada</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of principal executive offices)</I></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 25%; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt; color: #0070c0"> </FONT>&nbsp;&nbsp;Form&nbsp;20-F</TD>
    <TD STYLE="width: 25%; text-align: center"><FONT STYLE="font-family: Wingdings">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT> &nbsp;&nbsp;Form&nbsp;40-F</TD>
    <TD STYLE="width: 25%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-transform: uppercase">Denison Mines Corp.</TD></TR>
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    <TD COLSPAN="4" STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Date:&nbsp;October&nbsp;10, 2023</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Amanda Willett</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 42%">Amanda Willett</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Vice President Legal and Corporate Secretary</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;6-K Exhibit&nbsp;Index</B></P>

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Number</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Document Description</B></FONT></TD></TR>
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    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="text-align: center"><A HREF="tm2327329d3_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tm2327329d3_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated October&nbsp;10, 2023. </FONT></A></TD></TR>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

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    <TD STYLE="text-align: left; width: 50%; vertical-align: middle"><FONT STYLE="font-size: 10pt">&nbsp;<IMG SRC="tm2327329d3_ex99-1img001.jpg" ALT=""></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 50%">Denison Mines Corp.<BR> 1100 &ndash; 40 University Ave<BR> Toronto, ON M5J 1T1<BR>
www.denisonmines.com</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PRESS RELEASE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Denison Announces US$55 Million Bought Deal Offering</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Toronto, ON &ndash; October&nbsp;10, 2023 </B>Denison
Mines Corp. (&ldquo;Denison&rdquo; or the &ldquo;Company&rdquo;) (DML: TSX, DNN: NYSE American) is pleased to announce that it has entered
into an agreement with Cantor Fitzgerald Canada Corporation, as sole book-runner and lead underwriter, on its own behalf and on behalf
of a syndicate of underwriters (collectively, the &ldquo;Underwriters&rdquo;), under which the Underwriters have agreed to purchase,
on a bought deal basis, 37 million shares of the Company at US$1.49 per share (the &ldquo;Issue Price&rdquo;) for aggregate gross
proceeds of approximately US$55.13 million (the &ldquo;Offering&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, Denison has agreed to grant to the
Underwriters an over-allotment option (the &ldquo;Over-Allotment Option&rdquo;) exercisable, in whole or in part, at the sole discretion
of the Underwriters to purchase up to an additional 5.55 shares of the Company at the Issue Price until October&nbsp;16, 2023
for potential additional gross proceeds to Denison of up to approximately US$8.27 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Denison intends to use the net proceeds from the
Offering to fund (1)&nbsp;the advancement of the proposed Phoenix in-situ recovery uranium mining operation at Denison&rsquo;s Wheeler
River Project (the &ldquo;Phoenix Project&rdquo;) through the procurement of long lead items (including associated engineering, testing
and design) identified during the ongoing Front End Engineering Design process and the Phoenix Feasibility Study; (2)&nbsp;exploration
and evaluation expenditures; and (3)&nbsp;general corporate and administrative expenses, including those in support of corporate development
activities, and working capital requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based upon preliminary budgets and plans,
Denison expects the funds, taken together with existing financial resources including those from prior prospectus financings, will
be sufficient to advance the Phoenix Project to a final investment decision and into the project execution phase. Denison further
expects to be able to fund operations during this period while maintaining a large portion of its current physical uranium holdings,
to be utilized in the future in connection with financing the continued advancement and/or construction of the Phoenix Project.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Denison will pay to the Underwriters a cash commission
equal to 4.75% of the gross proceeds of the Offering, including any proceeds received from the exercise of the Over-Allotment
Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Offering will be made by way of a
prospectus supplement (the &ldquo;Prospectus Supplement&rdquo;) to the Company&rsquo;s existing Canadian short form base shelf
prospectus (the &ldquo;Base Shelf Prospectus&rdquo;) and U.S. registration statement on Form&nbsp;F-10, as amended (File
No.&nbsp;333-258939) (the &ldquo;Registration Statement&rdquo;), each dated September&nbsp;16, 2021. The Registration Statement was
declared effective by the United States Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on September&nbsp;17, 2021. The
Prospectus Supplement has been filed with the securities commissions in each of the provinces and territories of Canada, except
Quebec, and with the SEC. The Canadian Prospectus Supplement is available on the SEDAR+ website maintained by the Canadian
Securities Administrators at <I>www.sedarplus.ca</I>. The U.S. Prospectus Supplement (together with the related U.S. Base Shelf
Prospectus) is available on the SEC&rsquo;s website at <I>www.sec.gov</I>. Alternatively, the Prospectus Supplement may be obtained
upon request by contacting the Company or Cantor Fitzgerald Canada Corporation in Canada, attention: Equity Capital Markets, 181
University Avenue, Suite&nbsp;1500,&nbsp;Toronto, ON, M5H 3M7, email:&nbsp;ecmcanada@cantor.com or Cantor Fitzgerald &amp; Co.,
Attention: Equity Capital Markets, 499 Park Avenue, 6th Floor, New York, New York, 10022 or by email at prospectus@cantor.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Offering is expected to close on or about
October&nbsp;16, 2023, subject to the satisfaction of certain conditions including, but not limited to, the receipt of all necessary
approvals, including the approval of the Toronto Stock Exchange and the NYSE American.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>This press release does not constitute an offer
to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon
by the accuracy or adequacy of the Prospectus Supplement, the Base Shelf Prospectus or the Registration Statement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Wheeler River</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Wheeler River is the largest undeveloped uranium
project in the infrastructure-rich eastern portion of the Athabasca Basin region, in northern Saskatchewan. 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%). In August&nbsp;2023, Denison filed a technical report
summarizing the results of (i)&nbsp;the feasibility study completed for In-Situ Recovery (&lsquo;ISR&rsquo;) mining of the high-grade
Phoenix uranium deposit and (ii)&nbsp;a cost update to the 2018 Pre- Feasibility Study for conventional underground mining of the basement-hosted
Gryphon uranium deposit. Based on the respective studies, both deposits have the potential to be competitive with the lowest cost uranium
mining operations in the world. Permitting efforts for the planned Phoenix ISR operation commenced in 2019 and have advanced significantly,
with licensing in progress and a draft Environmental Impact Statement submitted for regulatory and public review in October&nbsp;2022.
More information is available in the technical report titled &ldquo;NI 43-101 Technical Report on the Wheeler River Project Athabasca
Basin, Saskatchewan, Canada&rdquo; dated August&nbsp;8, 2023 with an effective date of June&nbsp;23, 2023, a copy of which is available
on Denison's website and under its profile on SEDAR+ at <U>www.sedarplus.ca</U> and on EDGAR at <U>www.sec.gov</U>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Denison</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to the Company&rsquo;s effective 95%
interest in its flagship Wheeler River Uranium Project, Denison&rsquo;s interests in Saskatchewan include a 22.5% ownership interest
in the McClean Lake Joint Venture, which comprises 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 Main and Midwest A
deposits and a 67.41% interest in the Tthe Heldeth T&uacute;&eacute; (&ldquo;THT&rdquo;) and Huskie deposits on the Waterbury Lake
property. The Midwest Main, Midwest A, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Through its 50% ownership of JCU, Denison holds
additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU, 30.099%), the Kiggavik
project (JCU, 33.8118%) and Christie Lake (JCU, 34.4508%).</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Denison&rsquo;s exploration portfolio includes
further interests in properties covering ~285,000 hectares in the Athabasca Basin region.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>For more information, please contact</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">David Cates</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">(416) 979-1991 ext. 362</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">President and Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Follow Denison on Twitter</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">@DenisonMinesCo</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Cautionary Statement Regarding Forward-Looking
Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain information contained in this news release
constitutes &lsquo;forward-looking information&rsquo;, within the meaning of the applicable United States and Canadian legislation concerning
the business, operations and financial performance and condition of Denison. Generally, these forward-looking statements can be identified
by the use of forward-looking terminology such as &lsquo;plans&rsquo;, &lsquo;expects&rsquo;, &lsquo;budget&rsquo;, &lsquo;scheduled&rsquo;,
 &lsquo;estimates&rsquo;, &lsquo;forecasts&rsquo;, &lsquo;intends&rsquo;, &lsquo;anticipates&rsquo;, or &lsquo;believes&rsquo;, or the
negatives and/or variations of such words and phrases, or state that certain actions, events or results &lsquo;may&rsquo;, &lsquo;could&rsquo;,
 &lsquo;would&rsquo;, &lsquo;might&rsquo; or &lsquo;will be taken&rsquo;, &lsquo;occur&rsquo;, &lsquo;be achieved&rsquo; or &lsquo;has
the potential to&rsquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In particular, this news release contains
forward-looking information pertaining to: the terms and likelihood of completion of the Offering, the use of proceeds from sales
from the Offering, including expectations with respect to the advancement of the Phoenix Project and an investment decision on the Phoenix Project; and the ability to satisfy
the conditions to the closing of the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Forward looking statements are based on the opinions
and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different
from those expressed or implied by such forward-looking statements. For example, market volatility could impact Denison&rsquo;s ability
to complete the Offering on the terms herein described or at all. In addition, Denison may decide or otherwise be required to suspend
its evaluation or other project activities if it is unable to maintain or otherwise secure the necessary approvals or resources (such
as testing facilities, capital funding,&nbsp;etc.), which could have a material impact on the Company&rsquo;s intended use of proceeds
of the Offering and other objectives stated in this press release. Denison believes that the expectations reflected in this forward-looking
information are reasonable and no assurance can be given that these 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&rsquo;s Annual Information Form&nbsp;dated March&nbsp;27, 2023
under the heading &ldquo;Risk Factors&rdquo;. These factors are not, and should not be construed as being exhaustive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 legislation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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