Denison Announces Increase of Resources at Wheeler River

Denison Mines Corp. (TSX:DML) announced an 88 percent increase in the indicated mineral resources estimated for the Wheeler River project. The updated mineral resource estimate for Wheeler River is highlighted by a significant increase in the estimated mineral resources for the property’s basement-hosted Gryphon uranium deposit.
Highlights are as follows:

• The Gryphon deposit is estimated to contain, above a cut-off grade of 0.2% U₃O₈, 61.9 million pounds of U₃O₈ (1,643,000 tonnes at 1.71% U₃O₈) in Indicated Mineral Resources, plus 1.9 million pounds of U₃O₈ (73,000 tonnes at 1.18% U₃O₈) in Inferred Mineral Resources.

• Wheeler River is also host to the Phoenix deposit, which is estimated to include Indicated Mineral Resources of 70.2 million pounds of U₃O₈above a cut-off grade of 0.8% U₃O₈ (166,000 tonnes at 19.1% U₃O₈), as disclosed in the Preliminary Economic Assessment for the Wheeler River Uranium Project, Saskatchewan, Canada dated March 31, 2016 and prepared by Ken Reipas, P.Eng of SRK Consulting (Canada) Inc. (the “PEA”).

• With this update to the resources estimated for the Gryphon deposit, the combined Indicated Mineral Resources estimated for Wheeler River have increased by 88% to 132.1 million pounds U₃O₈, which will be used to support the Pre-Feasibility Study (“PFS”) initiated for the project in July 2016 and expected to be completed during 2018.