Denison Mines Corp. announced an updated Mineral Resource Estimate for the high grade Phoenix A and Phoenix B uranium deposits on its Wheeler River project in Northern Saskatchewan. For the combined Phoenix A and B deposits, the total Indicated Mineral Resource is estimated to contain 52,300,000 lbs U3O8 based on 152,400 tonnes of mineralization at an average grade of 15.6% U3O8. Additionally, the total Inferred Mineral Resource is estimated to contain 7,600,000 lbs U3O8 based on 11,600 tonnes of mineralization with an average grade of 29.8% U3O8. This Mineral Resource estimate update represents a 47% increase in Indicated lbs U3O8 and a 100% increase in Inferred lbs U3O8 over the previous Mineral Resource estimate done in 2010. The Wheeler River property lies between the McArthur River mine and Key Lake mill complex in the Athabasca Basin in northern Saskatchewan. Denison is the operator and holds a 60%
interest in the project. Cameco Corporation holds a 30% interest and JCU (Canada) Exploration Company, Limited holds the remaining 10% interest.