URANIUM EXPLORATION: More high-grade mineralization drilled at Wheeler River

SASKATCHEWAN — Denison Mines of Toronto reported that more high-grade mineralization has been drilled on the Phoenix discovery at the Wheeler River property in the Athabasca Basin. The best intersections of the fall 2009 drill program were 32.80% U₃O₈, 16.80% U₃O₈, 12.74% U₃O₈and 8.02% U₃O₈over 7.6, 9.0, 3.0 and 5.0 metres in holes WR-287, 286, 291A and 290 respectively.

In 2010 a $6-million drill program will be carried out, beginning in January, to continue the delineation of the Phoenix zone, which was discovered in 2008.

To view the 2009 drill hole map click on http://media3.marketwire.com/docs/DensionMinesCorpfig1.pdf or visit the corporate website at www.DenisonMines.com.

Denison has a 60% interest in the Wheeler River project. Cameco Corp. holds 30%, and JCU (Canada) Exploration holds 10%. The property is located between the McArthur River and Key Lake projects.