Denison Secures Grid Power at Phoenix Uranium Project Site

• SaskPower has completed a 72-kilovolt transmission line extending 24 kilometres to connect the Phoenix uranium project to Saskatchewan's electrical grid
• The transmission line was energised and grid power is now available at the project site located approximately 50 kilometres north of Kindersley
• Grid connection eliminates the requirement for diesel generators during construction and operations
• A power supply agreement with SaskPower provides electricity at industrial rates for the mine's operational life
• Phoenix contains indicated resources of 70.2 million pounds of uranium and inferred resources of 3.0 million pounds

Denison Mines Corp. (TSX: DML, NYSE American: DNN) is a uranium exploration and development company focused on assets in the Athabasca Basin region of Saskatchewan. The company controls approximately 310,000 hectares of exploration ground and holds a 95% interest in the Wheeler River project, which includes the Phoenix deposit. Denison also provides mine services through its Closed Mines Group, manages environmental monitoring programmes, and holds equity positions in Uranium Participation Corporation and JCU (Canada) Exploration Company.

Grid Power Infrastructure Completion

SaskPower has completed construction of a new 72-kilovolt transmission line to the Phoenix project site. The line extends 24 kilometres from the existing provincial grid to deliver electricity to the future mine location. The infrastructure was funded by SaskPower and has been designed to serve both construction and operational phases of the project.

The completion allows Denison to access grid electricity at the site, which previously had no permanent power infrastructure.

David Cates, President and CEO of Denison, stated that

"the completion of the SaskPower transmission line and the availability of grid power at the Phoenix site represents a significant de-risking milestone for the project."

Elimination of Diesel Generation Requirements

The availability of grid power removes the need for diesel generators during project development and operations. Mining projects in remote locations typically rely on diesel fuel for power generation, which involves ongoing fuel transportation and associated costs. The grid connection provides an alternative electricity source for construction activities, site facilities, and future operational requirements.

Mr. Cates noted that

"the arrangement with SaskPower provides the project with access to competitively priced electrical power for the life of mine."

The Phoenix operation will use In-Situ Recovery (ISR) technology, which requires consistent electricity for solution circulation, processing facilities, and site operations.

Power Supply Agreement

Denison has entered into a power supply agreement with SaskPower for the duration of the mine's anticipated operational life. The agreement provides electricity at industrial rates, though specific pricing terms were not disclosed. The arrangement covers the capacity requirements for different project phases, from construction through full operations.

The transmission infrastructure includes capacity to meet the project's power demands throughout its lifecycle. ISR mining operations require reliable electricity for continuous pumping and processing systems, which the grid connection is designed to accommodate.

Next Steps

Denison continues to advance the federal and provincial environmental assessment processes for the Phoenix project. The company is completing technical work for the Environmental Impact Statement and maintains ongoing engagement with Indigenous communities and regional stakeholders.

Final regulatory approvals remain pending before construction decisions and project financing arrangements can be finalised. The Phoenix deposit is part of the Wheeler River project, which Denison is developing as a potential uranium production operation in Saskatchewan's Athabasca Basin.

‍