URANIUM: Wheeler River grades grow as Denison receives assays

SASKATCHEWAN – Denison Mines Corp. of Toronto says final assays results from this winter’s drilling at the Wheeler River uranium project are better than the previously reported downhole radiometric probe results. Denison holds a 60% interest in the project that lies in the eastern part of the Athabasca Basin. Cameco Corp. of Calgary owns 30%, and JCU (Canada) Exploration holds the remaining 10%. The winter drilling program of 32 holes totalled 21,761 metres and tested targets near the Gryphon deposit. The assays indicate the newly discovered zone located 200 metres north of Gryphon can be expanded and that the mineralization is similarly interpreted to occur as a series of stacked lenses, designated D series lenses Assay highlights from D-series lenses include:

• 3% U₃O₈ over 11.0 metres (from 718.5 to 729.5 metres; drill hole WR-641), including
• 6% U₃O₈ over 4.5 metres (from 725.0 to 729.5 metres) and
• 9% U₃O₈ over 1.5 metres (from 670.5 to 672.0 metres; drill hole WR-651)
• 9% U₃O₈ over 6.0 metres (from 759.0 to 765.0 metres; drill hole WR-633D1)
• 3% U₃O₈ over 4.0 metres (from 750.5 to 754.5 metres; drill hole WR-633D1)
• 2% U₃O₈ over 2.5 metres (from 584.5 to 587.0 metres; drill hole WR-646)

Denison is planning 28,000 metres of drilling around the Gryphon deposit this summer. Step-out holes in the D-series and in areas where mineralization remain open will be drilled. A prefeasibility study is being prepared for Wheeler River. More detailed assay results are posted at www.DenisonMines.com.