URANIUM EXPLORATION: High grades drilled at Wheeler River

SASKATCHEWAN – Denison Mines of Toronto has completed the 2012 drilling program a the Wheeler River property between the Key Lake and McArthur River uranium deposits in the Athabasca Basin. Of the recently released results, two holes in the Phoenix B deposit were spectacular - WR-474 which intersected 18.37% U₃O₈ over 4.4 metres and WR-478 which intersected 21.74% U₃O₈ over 1.6 metres.

Last February Denison reported results of drilling in the Phoenix A deposit including 25.80% U₃O₈ over 4.9 metres 27.00% U₃O₈ over 3.7 metres, from two holes that were drilled on a bulge in the deposit that is interpreted as a structural intersection.

A total of 27,263 metres was drilled in 58 holes at Wheeler River in 2012. Most of the drill holes (51) targeted mineralization at the Phoenix A and B deposits. The other seven tested regional targets.

The Wheeler River project is owned 60% by Denison, 30% by Cameco and 10% by JCU (Canada) Exploration. Visit DenisonMines.com for more information about the project.