Uranium mineralization was encountered in 4 of the six drill holes accomplished throughout the 2023 winter exploration program, which was designed to guage the strike size of low-grade mineralized occurrences recognized within the 2021 and 2016 drill packages. Determine 1 and Determine 2 depict the situation of the Moon Lake South undertaking, and the numerous drill outcomes on the undertaking so far, respectively.

Andy Yackulic , P. Geo., Denison’s Director, Exploration, commented, “The invention of high-grade uranium mineralization at Moon Lake South offers additional proof that the CR-3 pattern has the potential to host a big, high-grade unconformity-associated uranium deposit. The truth that this high-grade materials lies roughly 30 metres above the unconformity contact could be very encouraging – as perched mineralization like that is sometimes solely discovered proximal to high-grade unconformity-hosted deposits.”

David Cates , Denison’s President & CEO added, “The invention of high-grade sandstone-hosted uranium mineralization at Moon Lake South is a really thrilling growth for Denison, as our Firm’s current subject testing on the close by 95%-owned Wheeler River undertaking has illustrated the potential viability of mining high-grade Athabasca Basin sandstone-hosted uranium deposits through In-Situ Restoration (ISR) mining.”

2023 Moon South Winter Exploration Program Highlights

The 2023 winter exploration program consisted of six accomplished diamond drill holes totalling 3,301 metres, designed to guage the potential to increase the footprint of identified mineralization found in 2016 and 2021 by testing conductivity anomalies recognized from the 2022 stepwise shifting loop electromagnetic (SWML EM) survey.

Uranium mineralization was encountered in 4 of the six drill holes accomplished throughout the winter exploration program. The mineralized intersections are summarized in Desk 1.

Essentially the most important mineralization was returned from gap MS-23-10A, which intersected a broad zone of high-grade mineralization grading 1.38% eU ₃ O ₈ over 8.7 metres, related to sturdy gray alteration, situated roughly 30 metres above the sub- Athabasca unconformity.  Given the restricted variety of drill holes accomplished throughout the winter program, the mineralization found in MS-23-10A stays open in a number of instructions for future follow-up.

Radiometric Equal Grades, Sampling, Evaluation and Knowledge Verification

Following the completion of a drill gap, the outlet is radiometrically logged utilizing a downhole gamma probe, which collects steady readings of radioactivity alongside the size of the drill gap. Probe outcomes are then calibrated utilizing an algorithm calculated from the comparability of probe outcomes in opposition to geochemical analyses within the space. The gamma-log outcomes present an instantaneous radiometric equal uranium worth (eU ₃ O ₈ %) for the outlet, which, besides in very high-grade zones, is fairly correct. The Firm sometimes stories eU ₃ O ₈ , as a preliminary consequence and subsequently stories definitive assay grades following sampling and chemical evaluation of the mineralized drill core.

Assay pattern intervals are usually 50 centimetres lengthy, besides the place larger or lower-grade mineralization boundaries fall inside the interval. In that case, two 25 centimetre samples are collected. Flank samples of 1.0 metre are at all times collected the place mineralization is situated. Systematic geochemistry samples are collected each 10 metres down the outlet.

All assayed core is break up in half, with one half retained and the opposite despatched to the Saskatchewan Analysis Council Geoanalytical Laboratory in Saskatoon for evaluation. Management samples are routinely assayed with every batch of core samples analyzed.

About Moon Lake South

The Moon Lake South undertaking is a three way partnership between Denison Mines Corp., which holds a 75% curiosity within the property, and CanAlaska Uranium Ltd., which holds the remaining 25% curiosity. Denison acts because the undertaking operator.

The undertaking lands are situated within the southeastern a part of the Athabasca basin, roughly 12 kilometres southwest of Denison’s Phoenix deposit, and 30 kilometres northwest of Cameco’s Key Lake Operation. The property is accessible year-round through the Fox Lake tote street, permitting Denison’s exploration crew to make use of the close by Wheeler River camp as a base of operations.

About Denison

Denison is a uranium exploration and growth firm with pursuits centered within the Athabasca Basin area of northern Saskatchewan, Canada . The Firm has an efficient 95% curiosity in its flagship Wheeler River Uranium Undertaking, which is the most important undeveloped uranium undertaking within the infrastructure wealthy jap portion of the Athabasca Basin area of northern Saskatchewan . Denison’s pursuits in Saskatchewan additionally embrace a 22.5% possession curiosity within the McClean Lake three way partnership, which incorporates a number of uranium deposits and the McClean Lake uranium mill that’s contracted to course of the ore from the Cigar Lake mine below a toll milling settlement, plus a 25.17% curiosity within the Midwest Most important and Midwest A deposits, and a 67.41% curiosity within the Tthe Heldeth Túé (“THT,” previously J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest Most important, Midwest A, THT and Huskie deposits are every situated inside 20 kilometres of the McClean Lake mill.

Via its 50% possession of JCU, Denison holds further pursuits in varied uranium undertaking joint ventures in Canada , together with the Millennium undertaking (JCU 30.099%), the Kiggavik undertaking (JCU 33.8118%) and Christie Lake (JCU 34.4508%). Denison’s exploration portfolio consists of additional pursuits in properties protecting ~300,000 hectares within the Athabasca Basin area.

Denison can also be engaged in post-closure mine care and upkeep companies by way of its Closed Mines group, which manages Denison’s reclaimed mine websites within the Elliot Lake area and supplies associated companies to sure third-party tasks.

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Certified Individuals

The technical info contained on this launch has been reviewed and authorized by Mr. Andrew Yackulic , P. Geo., Denison’s Director, Exploration, who’s a Certified Particular person in accordance with the necessities of NI 43-101.

Cautionary Assertion Concerning Ahead-Wanting Statements

Sure info contained on this information launch constitutes ‘forward-looking info’, inside the which means of the relevant United States and Canadian laws, in regards to the enterprise, operations and monetary efficiency and situation of Denison.

Usually, these forward-looking statements could be recognized by way of forward-looking terminology corresponding to ‘plans’, ‘expects’, ‘finances’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, or ‘believes’, or the negatives and/or variations of such phrases and phrases, or state that sure actions, occasions or outcomes ‘could’, ‘might’, ‘would’, ‘would possibly’ or ‘will likely be taken’, ‘happen’, ‘be achieved’ or ‘has the potential to’.

Particularly, this information launch incorporates forward-looking info pertaining to the next: the interpretation of exploration outcomes and expectations with respect thereto, together with the interpretation of the outcomes from the Moon Lake South exploration program; and expectations concerning its three way partnership possession pursuits and the continuity of its agreements with its companions.

Ahead trying statements are primarily based on the opinions and estimates of administration as of the date such statements are made, and they’re topic to identified and unknown dangers, uncertainties and different elements that will trigger the precise outcomes, stage of exercise, efficiency or achievements of Denison to be materially completely different from these expressed or implied by such forward-looking statements. For instance, the modelling and assumptions upon which the interpretation of outcomes are primarily based is probably not maintained after additional testing or be consultant of precise situations. Denison believes that the expectations mirrored on this forward-looking info are affordable however no assurance could be provided that these expectations will show to be correct and outcomes could differ materially from these anticipated on this forward-looking info. For a dialogue in respect of dangers and different elements that might affect forward-looking occasions, please consult with the elements mentioned in Denison’s Annual Info Type dated March 27, 2023 or subsequent quarterly monetary stories below the heading ‘Danger Components’. These elements usually are not, and shouldn’t be construed as being exhaustive.

Accordingly, readers shouldn’t place undue reliance on forward-looking statements. The forward-looking info contained on this information launch is expressly certified by this cautionary assertion. Any forward-looking info and the assumptions made with respect thereto speaks solely as of the date of this information launch. Denison doesn’t undertake any obligation to publicly replace or revise any forward-looking info after the date of this information launch to adapt such info to precise outcomes or to modifications in Denison’s expectations besides as in any other case required by relevant laws.

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