GTI Activities Report, December Quarter 2023 

Mining is prepared to start at the McClean North deposit in 2025, with 2024 activities anticipated to concentrate on preparations essential to prepared the existing SABRE mining website and devices for constant industrial operations, along with the setup of 8 pilot holes for the very first mining cavities prepared for excavation. The authorized budget plan for this operate in 2024 is $7 million (100% basis).

Around 800,000 pounds U 3 O 8 (100% basis) are targeted for production from McClean North in 2025, with around 3,000,000 pounds U 3 O 8 (100% basis) determined for prospective extra production from a mix of the McClean North and Caribou deposits throughout the years 2026 to 2030.

Jim Corman , Orano Canada’s President and Ceo, stated, Our present capability to take advantage of the reinforcing uranium and nuclear markets is the outcome of a long-lasting financial investment in R&D within Orano and the MLJV to protected continue d activities at the McClean Lake operation well into the future. The foundation we do over the course of 2024, is anticipated to put the MLJV in position to see SABRE in action and to start production in 2025. It is expected that the McClean Lake mill will have adequate capability to process this ore, while continuing with dedicated scheduled production from Stogie Lake. It’s an interesting time for staff members, partners , and the market as we go back to a concentrate on development.

David Cates , Denison’s President and Ceo, commented, “The reboot of uranium mining at McClean Lake is a significant turning point for the MLJV and Denison. Mining at McClean Lake was suspended in 2008 in reaction to decreasing uranium rates. Throughout the interim 15 years, the MLJV bought the advancement of an exclusive mining technique created to selectively draw out state-of-the-art Athabasca Basin uranium ores from surface area. The effective mining test of the SABRE technique in 2021 supplied the MLJV with essential details about the efficiency and expense of SABRE operations. This details recommends a reward rate meaningfully lower than present uranium rates, which has actually supplied the JV with a strong basis to make a reboot choice for mining at McClean Lake.

We wish to thank our associates at Orano Canada for their efforts to establish the SABRE technique to a commercial-ready state, which has actually enabled the joint endeavor to decide to resume production at McClean Lake.”

About SABRE

SABRE is the conclusion of a mining devices development and advancement effort that started in 2004 and concluded in 2021 with the conclusion of multi-year mining test program that effectively excavated around 1,500 tonnes of high-value ore. It is a non-entry, surface-based mining technique that utilizes a high-pressure water jet positioned at the bottom of a drill hole to excavate a mining cavity. The cuttings from the excavation procedure are then air raised to surface area, separated, and stocked. SABRE is deemed an ingenious mining technique that has the prospective to enable financial access to reasonably little state-of-the-art orebodies in the Athabasca Basin that are either too little or unfathomable to be mined financially by standard open-pit and/or underground mining approaches.

SABRE is special because the mining technique can be selective and scalable, which has the prospective to offer exceptional versatility when compared to standard mining approaches and is hence preferably fit to ever altering uranium market conditions– with an anticipated production increase of months rather of years. The SABRE technique has ecological benefits when compared to standard open pit or underground mining approaches as an outcome of its less invasive nature and smaller sized surface area footprint. Decreased water use and power intake likewise add to essential decreases in greenhouse gas emissions and enhanced sustainability. In addition, as a non-entry mining technique, radiological direct exposure for mine employees is reduced.

For extra details about the SABRE mining test finished in 2021, please describe the Orano Canada and the Denison joint press release dated November 3, 2021

About Mc Cl ean Lake

The McClean Lake home lies within the eastern part of the Athabasca Basin area in northern Saskatchewan , around 750 kilometres north of Saskatoon The mineral home includes 4 mineral leases covering a location of 1,147 hectares and 13 mineral claims covering a location of 3,111 hectares. The right to mine the McClean Lake deposits was gotten under the mineral leases, as restored from time to time.

Extra details about the McClean North and Caribou deposits can be discovered in the technical reports entitled “Technical Report on the Mineral Resource Quote for the McClean North Uranium Deposits, Saskatchewan ” dated January 31, 2007 , and the “Technical Report on the Denison Mines Inc. Uranium Residence, Saskatchewan, Canada ” dated November 21, 2005 , as modified February 16, 2006 , respectively, copies of which are offered under Denison’s profile on SEDAR+ and Denison’s site.

Certified Individuals

For Orano Canada, the technical details in this release has actually been evaluated and authorized by Mr. Louis-Pierre Gagnon , P. Eng., Head of Mining Engineering, Orano Mining who is a Competent Individual in accordance with the requirements of Canadian National Instrument 43-101 Mineral Disclosure Standards (” NI 43-101″).

For Denison, the technical details included in this release has actually been evaluated and authorized by Mr. Chad Sorba , P. Geo., Denison’s Vice President Technical Solutions & & Task Examination, and Mr. Andrew Yackulic , P. Geo., Denison’s Vice President Expedition, each of whom is a Competent Individual in accordance with the requirements of NI 43-101.

About Orano Canada

Headquartered in Saskatoon, Saskatchewan , Orano Canada Inc. is a leading manufacturer of uranium, representing the processing of 18 million pounds of uranium concentrate in Canada in 2022. Orano will commemorate 60 years of checking out for, mining and milling uranium in Canada in 2024. Orano Canada is the operator of the McClean Lake uranium mill and a significant partner in the Stogie Lake, McArthur River and Secret Lake operations. The business uses over 450 individuals in Saskatchewan , consisting of about 320 at the McClean Lake operation where over 46% of staff members are self-declared Native. As a sustainable uranium manufacturer, Orano Canada is dedicated to security, environmental management and adding to the success and wellness of neighbouring neighborhoods.

Orano Canada Inc. is a subsidiary of the international Orano group. As an acknowledged worldwide operator in the field of nuclear products, Orano provides options to deal with present and future worldwide energy and health obstacles. Its proficiency and proficiency of advanced innovations make it possible for Orano to provide its consumers high value-added product or services throughout the whole fuel cycle. Every day, the Orano group’s 17,000 staff members make use of their abilities, unwavering commitment to security and consistent mission for development, with the dedication to establish knowledge in the improvement and control of nuclear products, for the environment and for a healthy and resource-efficient world, now and tomorrow.

Go To Orano at www.oranocanada.com or follow us on LinkedIn, Twitter And Facebook: @oranocanada

About Denison

Denison is a uranium expedition and advancement business with interests focused in the Athabasca Basin area of northern Saskatchewan , Canada. Denison has a reliable 95% interest in its flagship Wheeler River Uranium Task, which is the biggest undeveloped uranium task in the facilities abundant eastern part of the Athabasca Basin area of northern Saskatchewan In mid-2023, a Expediency Research Study was finished for Wheeler River’s Phoenix deposit as an ISR mining operation, and an upgrade to the formerly prepared PFS was finished for Wheeler River’s Gryphon deposit as a standard underground mining operation. Based upon the particular research studies, both deposits have the prospective to be competitive with the most affordable expense uranium mining operations on the planet. Allowing efforts for the prepared Phoenix ISR operation began in 2019 and have actually advanced considerably, with licensing in development and a draft Ecological Effect Declaration sent for regulative and public evaluation in October 2022.

Denison’s interests in Saskatchewan likewise consist of a 22.5% ownership interest in the MLJV, which owns a number of uranium deposits and the McClean Lake uranium mill, contracted to process the ore from the Stogie Lake mine under a toll milling contract, plus a 25.17% interest in the Midwest Main and Midwest A deposits and a 67.41% interest in the THT and Huskie deposits on the Waterbury Lake home. The Midwest Main, Midwest A, THT and Huskie deposits lie within 20 kilometres of the McClean Lake mill.

Through its 50% ownership of JCU ( Canada ) Expedition Business, Ltd (‘ JCU’), Denison holds extra interests in numerous uranium task joint endeavors in Canada , consisting of the Centuries task (JCU, 30.099%), the Kiggavik task (JCU, 33.8118%) and Christie Lake (JCU, 34.4508%).

Denison’s expedition portfolio consists of more interests in residential or commercial properties covering around 285,000 hectares in the Athabasca Basin area.

Discover More at www.denisonmines.com or follow Denison on X (previously Twitter): @DenisonMinesCo.

Cautionary Declaration Concerning Positive Declarations

Specific details included in this news release makes up “positive details”, within the significance of the United States Private Securities Lawsuits Reform Act of 1995 and comparable Canadian legislation worrying business, operations and monetary efficiency and condition of Denison. Normally, these positive declarations can be determined by the usage of positive terms such as “strategies”, “anticipates”, “budget plan”, “set up”, “quotes”, “projections”, “means”, “expects”, or “thinks”, or the negatives and/or variations of such words and expressions, or state that particular actions, occasions or outcomes “might”, “might”, “would”, “may” or “will be taken”, “take place”, “be accomplished” or “has the prospective to”. In specific, this news release includes positive details referring to the following: the awaited website preparations and mining activities and quotes for the timing and budget plan thereof; the capability to effectively release the SABRE mining technique and attain the goals of the MLJV; the ecological and security advantages of the SABRE mining technique; the targeted production at McClean North from 2025 to 2030 and other prospective targets for production; and Denison’s portion interest in its residential or commercial properties and its strategies and contracts with its joint endeavor partners.

Forward looking declarations are based upon the viewpoints and quotes of management since the date such declarations are made, and they undergo recognized and unidentified dangers, unpredictabilities and other aspects that might trigger the real outcomes, efficiency or accomplishments of Denison to be materially various from those revealed or indicated by positive declarations. Denison and Orano Canada think that the expectations shown in this positive details are affordable however no guarantee can be considered that these expectations will show to be precise and might vary materially from those expected in this forward looking details.

For a conversation in regard of dangers and other aspects that might affect positive occasions for Denison, please describe the aspects talked about in Denison’s Yearly Info Type dated March 27, 2023 under the heading “Danger Aspects”. These aspects are not, and must not be interpreted as being, extensive.

Appropriately, readers must not put unnecessary dependence on positive declarations. The positive details included in this news release is specifically certified by this cautionary declaration. Any positive details and the presumptions made with regard thereto speaks just since the date of this news release. Neither Denison nor Orano Canada carries out any responsibility to openly upgrade or modify any positive details after the date of this news release to adhere such details to real outcomes or to modifications in their particular expectations other than as otherwise needed by relevant legislation

Cautionary Note to United States Investors Worrying Price Quotes of Mineral Resources and Mineral Reserves:

This press release might utilize the terms ‘determined’, ‘suggested’ and ‘presumed’ mineral resources. United States financiers are encouraged that such terms have actually been prepared in accordance with the meaning requirements on mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum described in NI 43-101 and are acknowledged and needed by Canadian policies. ‘Presumed mineral resources’ have a terrific quantity of unpredictability regarding their presence, and regarding their financial and legal expediency. Under Canadian guidelines, quotes of presumed mineral resources might not form the basis of expediency or other financial research studies. United States financiers are warned not to presume that all or any part of a presumed mineral resource exists and/or will ever be updated to a greater classification, nor presume that all or any part of determined or suggested mineral resources will ever be transformed into mineral reserves.

Efficient February 2019 , the United States Securities and Exchange Commission (” SEC”) embraced changes to its disclosure guidelines to update the mineral home disclosure requirements for companies whose securities are signed up with the SEC under the Exchange Act and as an outcome, the SEC now acknowledges quotes of “determined mineral resources”, “suggested mineral resources” and “presumed mineral resources”. In addition, the SEC has actually changed its meanings of “tested mineral reserves” and “possible mineral reserves” to be “considerably comparable” to the matching meanings under the CIM Standards, as needed under NI 43-101. Nevertheless, details concerning mineral resources or mineral reserves in Denison’s disclosure might not be equivalent to comparable details revealed by United States business.

Orano Canada and Denison Announce JV Approval to Restart McClean Lake Mining Operations (CNW Group/Denison Mines Corp.)

Cision View initial material to download multimedia: https://www.prnewswire.com/news-releases/orano-canada-and-denison-announce-jv-approval-to-restart-mcclean-lake-mining-operations-302042652.html

SOURCE Denison Mines Corp.

Cision View initial material to download multimedia: http://www.newswire.ca/en/releases/archive/January2024/24/c0805.html



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