Denison Expands the 489 Zone at Wheeler River

Denison Expands the 489 Zone at Wheeler River 
TORONTO, ONTARIO -- (Marketwired) -- 04/24/13 -- Denison Mines Corp.
(TSX:DML)(NYSE MKT:DNN) ("Denison" or the "Company") has completed a
second fence of drilling in the vicinity of drill hole WR-489 that
has extended unconformity uranium mineralization along strike by 65
metres. The area is 2.1 kilometres northeast of the Phoenix deposits
and is now being referred to as the 489 Zone. 
Wheeler River 
The winter drill program is now complete at Wheeler River. A total of
14,577 metres was drilled in 27 drill holes. Sixteen of the drill
holes were completed on five different exploration target areas (489
Zone, K Zone, Phoenix North, 232 area and the REA area) on the
Wheeler River property. The highlight of the program was the
discovery of new unconformity related uranium mineralization at the
489 Zone. Located approximately 2.1 kilometres northeast of the
Phoenix deposits the 489 Zone straddles the sub-Athabasca
unconformity at a vertical depth of 380 meters below surface, on top
of faulted graphitic gneiss. Rock types, alteration and structure are
similar to the Phoenix deposits. Mineralization has now been
intersected on both drill hole fences completed to date - 65 metres
apart, and the zone is open along strike in both directions. A summer
drill program is planned to aggressively follow up on these results. 
The table below summarizes the mineralized intersections. Figure 1
(http://media3.marketwire.com/docs/dml424-F1.pdf) shows the location
of the 489 Zone relative to the Phoenix deposits.                     
489 Zone Drilling Results      


 
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Hole-ID         Radiometric Probe                   Chemical Assay          
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           From       To   Length    eU3O8    From      To   Length     U3O8
            (m)      (m)      (m)     (%)1     (m)     (m)      (m)      (%)
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WR-489    387.8    392.4      4.6     0.14   387.3   392.8      5.5     0.13
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WR-511A   375.5    377.0      1.5     0.46              Pending  
           
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    and   378.3    379.3      1.0     0.17              Pending             
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    and   387.8    388.9      1.1     0.24              Pending             
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Note:  1. eU3O8 is radiometric equivalent uranium from a total gamma down-  
       hole probe                                                           

 
On the other four exploration target areas, encouraging geochemistry
and alteration was observed at Phoenix North, and the K Zone. Further
work is required to follow up on these results - some of which will
be a part of this summer's activities. No significant mineralization,
alteration or geochemistry was observed at the 232 and REA areas. 
The remainder of the winter program consisted of four drill holes to
infill two small Inferred portions of the Phoenix A deposit. As
previously reported, high grade uranium mineralization was
intersected in all four of these drill holes (see news release March
14, 2013). Another five drill holes explored for basement
mineralization proximal to the north end of the Phoenix A deposit.
Although no significant mineralization was intersected, this area
remains open for further testing. 
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. 
Hatchet Lake 
As reported previously, uranium mineralization was intersected at
Hatchet Lake in two drill holes on the northern portion of the
Crooked-Richardson Lakes trend. Chemical assays have now been
received for this drilling and the best result was in drill hole
RL-13-16, which intersected 0.45% U3O8 over 2.3 metres beginning at
124.0 metres down the drill hole. Further drilling is required to
follow up on these results. 
Qualified Person 
The disclosure of a scientific or technical nature contained in this
news release was prepared by Steve Blower, P.Geo., Denison's Vice
President, Exploration, who is a Qualified Person in accordance with
the requirements of NI 43-101. For a description of the quality
assurance program and quality control measures applied by Denison,
please see Denison's Annual Information Form dated March 13, 2013
filed under the Company's profile on SEDAR at www.sedar.com. 
About Denison 
Denison Mines Corp. is a uranium exploration and development company
with interests in exploration and development projects in Canada,
Zambia and Mongolia. Including the world class Phoenix deposits,
located on its 60% owned Wheeler River project, Denison's exploration
project portfolio includes 32 projects and totals over 530,000
hectares in the Eastern Athabasca Basin region of Saskatchewan.
Denison's interests in Saskatchewan also include a 22.5% ownership
interest in the McClean Lake Joint Venture, which includes several
uranium deposits and the McClean Lake uranium mill, one of the
world's largest uranium processing facilities, and a 25.17% interest
in the Midwest deposit, which is located 15 kilometres from the
McClean Lake mill. Internationally, Denison owns 100% of the
conventional heap leach Mutanga project, in Zambia, and an 85%
interest in the in-situ recovery projects held by the Gurvan Saihan
Joint Venture, in Mongolia. 
Denison is engaged in mine decommissioning and environmental services
through its Denison Environmental Services (DES) division and is the
manager of Uranium Participation Corporation (TSX:U), a publicly
traded company which invests in uranium oxide in concentrates and
uranium hexafluoride. 
Cautionary Statements 
Certain information contained in this press release constitutes
"forward-looking information", within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and similar
Canadian legislation concerning the business, operations and
financial performance and condition of Denison. 
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and
phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur", "be
achieved" or "has the potential to". 
Forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made, and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or
achievements of Denison to be materially different from those
expressed or implied by such forward-looking statements. Denison
believes that the expectations reflected in this forward-looking
information are reasonable but no assurance can be given that these
expectations will prove to be correct and such f
orward-looking
information included in this press release should not be unduly
relied upon. This information speaks only as of the date of this
press release. In particular, this press release may contain
forward-looking information pertaining to the following: the
estimates of Denison's mineral reserves and resources; capital
expenditure programs; expectations regarding the toll milling of
Cigar Lake ores; exploration and development expenditures and
reclamation costs; expectations of market prices and costs; supply
and demand for uranium; possible impacts of litigation and regulatory
actions on Denison; exploration, development and expansion plans and
objectives; future royalty and tax payments and rates; Denison's
expectations regarding raising capital and adding to its mineral
reserves and resources through acquisitions and exploration; and
receipt of regulatory approvals, permits and licences under
governmental regulatory regimes. 
There can be no assurance that such statements will prove to be
accurate, as Denison's actual results and future events could differ
materially from those anticipated in this forward-looking information
as a result of those factors discussed in or referred to under the
heading "Risk Factors" in Denison's Annual Information Form dated
March 13, 2013, available at http://www.sedar.com, and in its Form
40-F available at http://www.sec.gov, as well as the following:
global financial conditions; the ability of Denison to meet its
obligations to its creditors and the uncertainty of funding;
volatility in the market price of the Company's shares and the risk
of dilution from future equity financings; the impact of volatility
in uranium prices on the valuation of Denison's mineral reserves and
resources and the market price of its shares; public acceptance of
nuclear energy and competition from other energy sources; failure to
realize benefits from transactions; competition for properties; the
imprecision of mineral reserves and resources estimation; Denison's
ability to expand and replace its mineral reserves and resources;
uncertainty as to reclamation and decommissioning liabilities;
reliance on other operators; technical innovation rendering Denison's
products and services obsolete; property title risk; liabilities
inherent in mining operations and the adequacy of insurance coverage;
delays in obtaining permits and licences for development properties;
the speculative nature of exploration and development projects;
difficulty complying with changing government regulations and policy,
including without limitation, compliance with environment, health and
safety regulations; uncertainty surrounding Denison's operations in
foreign jurisdictions; potential claims of Canada's first nations
people; dependence on key personnel; the potential influence of
Denison's largest Shareholder, Korea Electric Power Corporation;
potential conflicts of interest for the Company's directors who are
engaged in similar businesses; and limitations of disclosure and
internal controls. 
Accordingly, readers should not place undue reliance on
forward-looking statements. These factors are not, and should not be
construed as being, exhaustive. Statements relating to "mineral
reserves" or "mineral resources" are deemed to be forward-looking
information, as they involve the implied assessment, based on certain
estimates and assumptions that the mineral reserves and mineral
resources described can be profitably produced in the future. The
forward-looking information contained in this press release is
expressly qualified by this cautionary statement. Denison does not
undertake any obligation to publicly update or revise any
forward-looking information after the date of this press release to
conform such information to actual results or to changes in Denison's
expectations except as otherwise required by applicable legislation. 
Contacts:
Denison Mines Corp.
Ron Hochstein
President and Chief Executive Officer
(416) 979-1991 ext 232
(416) 979-5893 (FAX) 
Denison Mines Corp.
Steve Blower
Vice President, Exploration
(604) 689-7842
www.denisonmines.com
 
 
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