Denison Mines Corp. announced that its 2014 exploration programs in the Athabasca Basin have begun. In 2014, Denison is planning to drill nearly 60,000 metres on 13 different properties.

In Canada, Denison will manage or participate in a total of 19 exploration programs, of which Wheeler River will continue to be the primary focus. The total budget for these programs is CAD 21.2 million of which Denison's share is CAD 15.0 million. At Denison's 60% owned Wheeler River project, a 27,600 metre winter and summer drill program is planned along with geophysical surveys at a total cost of CAD 8.0 million (Denison's share, CAD 4.8 million).

Drill targets at Wheeler River include extensions of high grade mineralization at the Phoenix deposit and follow up drilling on the 489 Zone, Phoenix North and on the K Zone. The K Zone is a 12 kilometre long corridor of faulted metasediments with highly elevated trace element geochemistry and substantial hydrothermal alteration along the western side of the property. In addition to the Wheeler River project, other significant winter drill programs are also planned for Bell Lake (5,000 metres), Moore Lake (4,000 metres), Crawford Lake (3,550 metres), Bachman Lake (3,050 metres), Waterbury Lake (2,700 metres), Park Creek (2,400 metres), Hatchet Lake (2,100 metres), Wolly (4,000 metres) and McClean Lake (2,700 metres).

Wolly and McClean Lake are operated by AREVA Resources Canada Inc. and Denison's interest is 22.5% in each of those projects. Exploration work including drilling or geophysical programs will also be carried out on the, Johnston Lake, Candle, Murphy Lake, Packrat, Black Bear, Marten, Lynx Lake and Wolverine properties. Development/Operations: At McClean Lake, the expansion of the mill from 13 to 24 million pounds annual U(3) O(8) production is being fully funded by the Cigar Lake Joint Venture and is well underway.

First ore from the Cigar Lake mine is anticipated early in the first quarter and processing of ores from the McClean Lake Surface Access Borehole Resource Extraction program (SABRE) and from Sue B, blended with Cigar Lake ore, is scheduled to begin mid-2014. Denison's share of operating and capital expenditures at the mill in 2014 is estimated at CAD 1.1 million. Denison's expenditures are expected to be offset by revenue from the sale of 50,000 pounds U(3) O(8), recovered from McClean Lake ores processed at the mill, and toll milling fees.

Total revenue from operations is projected at CAD 3.4 million. Due to low uranium prices, the Midwest and McClean Underground Projects will continue to remain on stand-by in 2014. Total expenditures on these projects is budgeted at CAD 0.9 million (Denison's share, CAD 212,000).

While significant milestones were achieved by the McClean Joint Venture in the development of the SABRE mining technology in 2012 and 2013, a decision was made by the Joint Venture to put this program on stand-by as well. As a result, SABRE expenditures are expected to be reduced in 2014 compared to last year to CAD 650,000 (Denison's share, CAD 146,000).