Denison Mines Corp.

Denison Mines Corp. is a premier Canadian uranium exploration and development company, strategically focused on the world-renowned Athabasca Basin in Northern Saskatchewan. The company's flagship project, Wheeler River, holds the distinction of being the largest undeveloped uranium project in the infrastructure-rich eastern Athabasca Basin. With an impressive effective ownership of 95%, Denison is advancing the Wheeler River Project, comprising two key deposits: Phoenix and Gryphon.

Phoenix, planned as an innovative In-Situ Recovery (ISR) operation, is globally recognized as a low-cost mining initiative. Denison’s other projects, including McClean Lake, Waterbury Lake, and strategic joint ventures, complement its diversified portfolio, positioning the company as a leader in uranium resource development. Supported by a robust balance sheet with over CAD $375 million in financial resources, Denison is well-poised to drive value in the burgeoning nuclear energy sector while emphasizing technical excellence and environmental sustainability.

Denison Mines Corp. is listed on the Toronto Stock Exchange (TSX: DML) and NYSE American (NYSEAM: DNN), making it a recognized name among international investors seeking exposure to the uranium sector.

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Denison Mines offers a compelling value proposition, anchored by its flagship Wheeler River Project. Phoenix, a game-changing ISR mining initiative, combines low production costs (US$16.04/lb U3O8) with high-grade uranium reserves, resulting in one of the lowest-cost uranium projects globally. With planned first production targeted for 2027/2028, Phoenix is poised to address the uranium market’s growing supply deficit driven by nuclear energy’s resurgence.

Denison's strategic ownership in the McClean Lake Mill further enhances its competitive advantage by ensuring access to licensed milling capacity and low-cost production pathways. Additionally, the company’s emerging Waterbury and Gryphon projects provide a robust pipeline of future development opportunities, amplifying its growth potential.

Operating in Saskatchewan’s Athabasca Basin—a Tier-1 mining jurisdiction known for stability and resource abundance—Denison benefits from strong infrastructure, including proximity to highways and provincial power grids. With the global shift toward clean energy and over 20 nations pledging to triple nuclear capacity by 2050, Denison Mines is uniquely positioned to capitalize on surging uranium demand while maintaining a steadfast commitment to ESG principles.

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Denison Mines Corp. is led by a seasoned management team with extensive expertise in uranium exploration, mining development, and corporate governance. At the helm is David Cates, President and CEO, he was appointed in this role in 2015, having previously served as the company's Vice President, Finance & Tax and Chief Financial Officer. Prior to joining Denison in 2008, Mr. Cates held positions at Kinross Gold Corp. and PwC LLP.

The company’s financial strategy is overseen by Elizabeth Sidle, Chief Financial Officer, she was appointed to this role in December 2023. Prior to joining Denison, Ms. Sidle held various roles at Ernst & Young LLP, including serving in the firm's National Accounting and Assurance Group, where she was tasked with advising on complex financial accounting issues and transactions.

Kevin Himbeault, Vice President Operations, has significant operational and regulatory experience, with over 25 years of diverse involvement in the mining industry through consulting and operations management.

Supporting these leaders is a team of directors and technical professionals dedicated to advancing Denison's vision of becoming a top-tier uranium producer.

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Denison Mines Corp. is executing a forward-looking growth plan centered on its flagship Wheeler River Project and its innovative approach to uranium mining. The company is advancing Phoenix through the final investment decision phase, targeting production by 2027/2028, while detailed engineering and permitting efforts are underway. Gryphon, the second deposit at Wheeler River, is expected to be funded through cash flows generated by Phoenix, reinforcing Denison's commitment to capital efficiency.

Exploration remains a key component of Denison’s growth strategy. The company’s extensive portfolio in the Athabasca Basin, including the Waterbury Lake and Moon Lake South projects, provides significant potential for resource expansion and long-term production opportunities.

Denison's focus on environmental stewardship sets it apart in the industry. The company aims to integrate sustainability into its operations, leveraging its expertise in low-impact ISR mining methods and collaborating with Indigenous communities to advance projects responsibly.

By capitalizing on its strong financial position, advanced technical capabilities, and a global push toward nuclear energy, Denison Mines is well-positioned to grow as a leader in the uranium market, delivering sustainable value to stakeholders and addressing the world’s increasing demand for clean energy solutions.

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Denison Mines Corp. maintains a strong financial foundation, positioning itself for growth and long-term success. As of September 2024, the company has over CAD $375 million in financial resources, including CAD $106 million in cash and cash equivalents, approximately 2.2 million pounds of physical uranium holdings valued at CAD $243 million, and CAD $25 million in investments in uranium equities and convertible debentures.

This robust financial position supports the company’s flagship Wheeler River Project, with estimated initial capital expenditures (CAPEX) for the Phoenix operation of CAD $419 million. Denison’s strategy of leveraging internal resources and project cash flows minimizes external funding requirements, enhancing shareholder value.

The company’s low-cost production profile, bolstered by innovative ISR mining methods, ensures financial resilience against market volatility. With no long-term debt and a disciplined financial strategy, Denison Mines is well-equipped to advance its projects, seize emerging opportunities, and deliver sustainable value to investors.

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Denison Mines Corp. stands as a leading force in the uranium exploration and development sector, uniquely positioned to meet the growing global demand for clean energy solutions. With its flagship Wheeler River Project, a low-cost and innovative mining initiative, Denison is poised to become a major uranium producer by the late 2020s. The company’s diversified asset base, strong financial position, and strategic focus on the Athabasca Basin—the world’s premier uranium district—solidify its role as a key player in the nuclear energy renaissance.

Guided by an experienced management team, Denison combines technical excellence with a steadfast commitment to environmental stewardship and community engagement. By integrating ESG principles into its operations, the company not only enhances project sustainability but also builds long-term stakeholder trust.

As Denison advances through critical project milestones, including engineering, permitting, and construction, it remains focused on delivering robust returns to investors while addressing the world’s urgent need for reliable and sustainable energy. For those seeking exposure to a well-positioned, de-risked uranium development company, Denison Mines offers a compelling opportunity for growth and value creation.

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