Denison Announces Expansion of Gryphon Mineralization as Winter Exploration Drilling Wraps Up at Wheeler River

Denison Mines Corp. (“Denison” or the “Company”) (TSX:DML)(NYSE MKT:DNN) is pleased to report the expansion of the mineralized zone discovered immediately north of the Gryphon deposit, as well as the completion of a successful winter exploration drilling program, on the Company’s 60% owned Wheeler River property in northern Saskatchewan. A total of 21,800 metres of diamond drilling, in 32 drill holes, was completed at Wheeler River during the winter exploration program.
According to the news:

The final weeks of the winter exploration program were highlighted by positive results from the follow up of the high-grade basement hosted mineralization previously reported in drill holes WR-633D1 and WR-641, both of which tested the area immediately north and northwest of the Gryphon deposit on section 5200GP earlier in the winter program. Despite limited time for follow up this winter, Denison successfully identified additional mineralization on section 5200GP (drill holes WR-644 and WR-648) and encountered additional high-grade mineralization on section 5150GP (drill holes WR-646 and WR-651), representing a 50 metre step out to the southwest of section 5200GP. These results have added several new lenses of mineralization to the Company’s geological model for the area north of the Gryphon deposit and highlight the potential for the discovery of additional lenses with further follow up drilling.

Denison’s President and CEO, David Cates, commented:

The 2016 winter exploration program at Wheeler River has been a tremendous success. Following the April 4, 2016 release of the Company’s findings from the Preliminary Economic Assessment for the Wheeler River project, which returned a pre-tax IRR of 20.4% using the current long term price for uranium, we are very pleased to be drilling a new zone of high-grade mineralization in very close proximity to the Gryphon deposit. Gryphon is a key part of the strategic development plan for Wheeler, and the potential to add pounds near Gryphon is very exciting and potentially meaningful from an economic standpoint. Planning for a roughly25,000 metre 2016 summer drill program, at Wheeler River, is underway and is expected to focus on further expansion of the mineralization atGryphon as well as testing of other high priority target areas.

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