Denison Mines Corp. announced that its 2013 exploration plans are focused on the Athabasca Basin with over 44,000 metres of drilling planned, a 25% increase over the amount drilled in 2012. The 2013 plan will continue to focus on expanding 60% owned Wheeler River project resource base and other high priority Athabasca Basin exploration projects will receive more attention than in recent years.

In Canada, Denison will manage or participate in 11 exploration programs, of which Wheeler River will continue to be the primary focus. The total budget for these programs is CAD 14.6 million of which Denison's share is CAD 9.9 million. At Wheeler River, a 25,000 metre winter and summer drill program is planned along with geophysical surveys at a total cost of CAD 6.8 million (Denison's share CAD 4.1 million).

Drilling at Wheeler River will have a greater emphasis on exploration as compared to past years, both proximal to Phoenix and at other target areas. A small component of in-fill drilling is also planned to further expand and upgrade the Phoenix Mineral Resource estimates which were announced earlier this week. In addition to the Wheeler River project, winter drill programs are also planned for Moore Lake (6,400 metres), Hatchet Lake (1,940 metres), Wolly (2,500 metres) and McClean Lake (4,000 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 Crawford, Bachman, Russell Lake, Stevenson River, Perpete Lake and Bell Lake properties. In Canada, CAD 3.5 million (Denison's share CAD 814,000) is budgeted to be spent on the Midwest and McClean Underground development stage projects and the Surface Access Borehole Resource Extraction (SABRE) program in 2013.

The McClean Underground project Feasibility Study was completed in the fourth quarter of 2012 and a decision was made to postpone a production decision due to the poor uranium market conditions. A production decision will be revisited in 2013. Very little work is currently planned on the Midwest project.

A majority of the expenditures are planned for the evaluation of the results of the SABRE two hole test program completed in 2012 and the preliminary evaluation of the SABRE mining method for the Caribou and Midwest deposits. The McClean Lake mill continues to be on stand-by, but activity at the mill has begun to ramp up in preparation for processing of Cigar Lake ore anticipated to begin later in 2013. Construction on the McClean Lake mill expansion, which is 100% funded by the Cigar Lake Joint Venture, began last summer and will increase annual production capacity to 24 million pounds U3O8.

Denison's share of operating and capital expenditures in 2013 is estimated at CAD 1.8 million. Denison's expenditures are expected to be offset by revenue projected at CAD 1.5 million from toll milling revenues and the proceeds from the sale of 25,000 lbs. U3O8 recovered from McClean Lake ores processed as part of the Cigar Lake commissioning efforts.