#Canada #Toronto #Denison Mines #Uranium Project #Annual Report

Denison Mines Corporation Files Annual Report

On March 28, 2025, Denison Mines Corporation, a major player in uranium mining, announced that it has successfully filed its 2024 Annual Report on Form 40-F with the U.S. Securities and Exchange Commission (SEC). This comprehensive report encompasses crucial information including Denison's annual information form, management discussions, and audited financial statements for the fiscal year ending December 31, 2024.

The company has made this report available on its official website at www.denisonmines.com as well as on the SEC’s website at www.sec.gov. Investors and securities holders can receive a printed copy of the report upon request by emailing the company or writing to its Toronto headquarters.

Overview of Denison Mines

Denison Mines Corp. has built its reputation over 70 years as a leading uranium mining and exploration company, particularly focused on the Athabasca Basin region in northern Saskatchewan, Canada. The company boasts an effective 95% ownership of the Wheeler River Uranium Project, noted for being the largest undeveloped uranium project in this resource-rich area.

In mid-2023, Denison completed a feasibility study for the Phoenix deposit, exploring its potential as an In-Situ Recovery (ISR) mining operation. This is part of a larger initiative that includes updates to the 2018 Pre-Feasibility Study for the Gryphon deposit, which aims to determine the viability of conventional underground mining operations at Wheeler River. These studies suggest that both deposits could align with some of the most cost-effective uranium mining operations globally.

The permitting process for the ISR operation at Phoenix has been ongoing since 2019 and made notable progress in 2024, including the submission of vital federal licensing documents. The acceptance of the Environmental Impact Statement by both the Province of Saskatchewan and the Canadian Nuclear Safety Commission marks a significant milestone for Denison’s operations.

Joint Ventures and Ownership

Denison also holds a 22.5% interest in the McClean Lake Joint Venture, which involves unmined uranium deposits slated for extraction using the SABRE mining method starting in 2025. The joint venture is also linked with the McClean Lake uranium mill, which is processing ore from the Cigar Lake mine under a toll milling agreement. Adding to its portfolio, Denison has a 25.17% interest in the Midwest Joint Venture and a significant 70.55% interest in the Tthe Heldeth Túé and Huskie deposits on the Waterbury Lake Property.

Together, these interests give Denison control over approximately 384,000 hectares within the Athabasca Basin, emphasizing its position as a dominant entity in the region’s uranium mining landscape. Additionally, Denison's partnerships through its 50% stake in JCU (Canada) Exploration Company grant it exposure to various other uranium project ventures across Canada, further diversifying its operational capabilities.

Performance Insights

As Denison reflects on its achievements from the year, the company underscores its ongoing commitment to excellence in uranium mining and exploration. The full array of developments, from the feasibility studies to advancements in regulatory approvals, indicates a forward-thinking approach that gears up for future drilling and possible expansions.

The filing of the 2024 Annual Report signifies a moment of accountability and transparency from Denison, reassuring shareholders about the company’s financial health and strategic direction. The firm looks set to continue navigating its path through an ever-evolving energy landscape, resonating with both environmental and economic considerations.

In conclusion, Denison Mines Corporation remains steadfast as it pursues its long-term goals. With a rich history and a clear focus on innovation and responsible mining practices, the company is well-equipped to thrive in the dynamic field of uranium mining, to meet both current demand and future energy needs.