#Canada #Toronto #Denison Mines #Saskatchewan #Wheeler River Project

Denison Mines Corp. Secures Environmental Approval for Wheeler River Project

Denison Mines Corp. has announced that it has received Ministerial approval under The Environmental Assessment Act (Saskatchewan) for its Wheeler River Project, which is set to feature an In-Situ Recovery (ISR) uranium mine. This approval signifies a crucial step towards the development of one of the largest undeveloped uranium projects in the world, located in the heart of Saskatchewan.

The pathway to this approval has been marked by multiple key milestones over the past few years. Notably, Denison completed all necessary stages in the Federal regulatory process, including a rigorous technical review conducted by the Canadian Nuclear Safety Commission (CNSC). These achievements have allowed Denison to align the Federal and Provincial Environmental Assessments (EAs), ensuring that they are substantially the same, thus streamlining the approval process moving forward.

Saskatchewan Premier Scott Moe has expressed strong support for the project, emphasizing the province's position as a leader in safe and sustainable mining practices. He stated, "Saskatchewan is the world's second-largest uranium producer, and remains a destination of choice for mining investment due to our abundant natural resources and strong regulatory environment." This project is expected to usher in new jobs and opportunities for northern communities, further solidifying Saskatchewan's place as an emerging energy superpower.

In light of the approval, Travis Keisig, Saskatchewan's Minister of Environment, congratulated Denison Mines and stated his enthusiasm for their commitment to sustainability and regulatory compliance. He acknowledged the importance of collaboration between the company and local communities, Indigenous nations, and other stakeholders during the EA process.

Denison's President and CEO, David Cates, thanked the Saskatchewan government, underscoring the potential of the Wheeler River Project to set a benchmark for environmental sustainability as Canada’s first ISR uranium mine. He noted that the completion of the provincial EA is one of the final regulatory requirements necessary for construction to commence on the Phoenix ISR mine, which is poised to be Canada's next large-scale uranium operation.

As the project progresses, there are still outstanding regulatory hurdles to clear before construction can officially begin. Denison awaits the Provincial Pollutant Control Facility Permit along with Federal approvals for the EA and the Federal License to Prepare the Site for construction. Notably, these approvals will be the subject of public hearings scheduled by the CNSC for October and December 2025.

Understanding the Wheeler River Project

The Wheeler River Project, located in northern Saskatchewan, encompasses the high-grade Phoenix and Gryphon uranium deposits, discovered in 2008 and 2014, respectively. With a joint venture structure in place, Denison holds a 90% operational interest, while the remaining 10% is owned by JCU (Canada) Exploration Company Limited.

Recent technical reports have indicated that both the Phoenix and Gryphon deposits could be positioned among the lowest-cost uranium mining operations globally. The comprehensive permitting process for the ISR operation has been underway since 2019 and is approaching its conclusion with the recent Provincial EA approval.

In addition to the Wheeler River Project, Denison also maintains a robust portfolio in the Athabasca Basin, which includes a 22.5% interest in the McClean Lake Joint Venture. This venture is currently engaged in mining operations and processing uranium ore under a toll milling agreement. Denison's depth of expertise and strategic positioning in the market illustrate its commitment to leading the charge in uranium mining, exploration, and development in Canada.

Denison Mines, which celebrated its 70th anniversary in uranium mining in 2024, remains focused on innovative and sustainable mining practices as it progresses into this next phase of its operations. The company looks forward to more advancements in regulatory compliance, project developments, and contributions towards sustainable mining practices that benefit not only the economy but also the environment and local communities.