Denison Announces 36.83% U3O8 Over 6.5 Metres From Zone A of the Phoenix Deposit

Denison Announces 36.83% U3O8 Over 6.5 Metres From Zone A of the Phoenix 
FOR: Denison Mines Corp. 
APRIL 30, 2014 
Denison Announces 36.83% U3O8 Over 6.5 Metres From Zone A of the Phoenix
TORONTO, ONTARIO--(Marketwired - April 30, 2014) - Denison Mines Corp.
(TSX:DML)(NYSE MKT:DNN) ("Denison" or the "Company") is
pleased to report the receipt of assay results from the 2014 winter drilling
program on the Phoenix deposit at the Wheeler River property and the completion
of the winter exploration program in Saskatchewan.  
Ron Hochstein, President and CEO of Denison stated that "We are very
encouraged by the results of our 2014 winter exploration program. We have
identified several targets on properties deserving of further follow-up, and on
the Wheeler River property have intersected additional high grade
mineralization and made a new exciting discovery of basement hosted
mineralization at the Gryphon zone. Overall, this was a very successful
Wheeler River 
A total of 11 drill holes were completed at Zone A of the Phoenix deposit this
winter in an effort to expand the higher grade mineralization. Assays from all
11 drill holes have now been received. Probe results for the first eight drill
holes have been previously reported. The highlight is drill hole WR-548 which
returned 36.8% U3O8 over 6.5 metres. Figure 1 shows the drill hole locations.
The table below compares the probe and assay grades at a cut-off grade of 1.0%
U3O8, except as noted.  
A new mineral resource estimate for the Phoenix deposit is being prepared, and
will be followed by filing of a technical report in accordance with the
requirements of National Instrument 43-101. The Company expects it to be
completed in June. 
Phoenix Deposit Zone A Intersections 
Down Hole Probe                    Assay             
eU3O8                             %
  Hole Number     From     To Length     (1)    From     To Length    U3O8
  WR-538(2)      392.4  397.5    5.1    2.14   393.0  398.0    5.0    2.92 
and          403.8  407.1    3.3    0.87   404.0  407.0    3.0    1.17 
and          408.2  409.6    1.4    1.36   408.5  411.0    2.5    0.74
  WR-539         401.6  405.1    3.5   11.63   400.0  405.0    5.0   13.12
  WR-541(2)      397.6  408.2   10.6    0.22   Core Recovery less than 80%, 
probe results used          
  WR-543(2)      411.4  412.9    1.5    0.14   Not Assayed                 
  WR-545         403.3  406.4    3.1   16.98   401.7  405.2    3.5   24.47
  WR-546         406.3  407.4    1.1    7.91   404.9  406.4    1.5    5.41
  WR-548         407.9  414.4    6.5   29.61   406.8  413.3    6.5   36.83
  WR-550         407.3  412.0    4.7   18.37   406.2  410.2    4.0   29.32
  WR-555         405.9  408.6    2.7   12.92   404.5  407.5    3.0   15.99
  WR-559         404.5  406.8    2.3    5.26   Core Recovery less than 80%, 
probe results used           
and          408.7  410.5    1.8    1.60   Core Recovery less than 80%, 
probe results used          
  WR-561A(2)     417.5  418.5    1.0    0.06   418.0  419.5    1.5    0.11
Note:  1. eU3O8 is radiometric equivalent uranium from a total gamma down-   
hole probe.                                                        
2. Cut-off grade is 0.05% U3O8.                                       
As all of the above drill holes are vertical and the mineralization is
approximately horizontal, the intersection lengths are approximately equal to
the true thickness. 
In addition to the Phoenix deposit drilling, a total of 16 drill holes were
completed at other target areas at Wheeler River, most of which were located
along the K trend and resulted in the discovery of high grade basement hosted
mineralization at the Gryphon zone, as reported last month. Assay results from
the Gryphon zone drill holes are still pending and are expected in May. 
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. 
To view Figure 1, please visit the following link: 
Other Properties 
Denison participated in 12 other exploration programs (ten of which were
operated by Denison) during the winter in the eastern Athabasca Basin,
including eight drill programs. All winter drilling activities are now complete
with some geophysical surveys still underway. Highlights included intersections
of weak uranium mineralization at the Oban target area at Waterbury Lake,
intersections of weak uranium mineralization and strong base metal
mineralization at Hatchet Lake, and intersections of weak uranium
mineralization at Bell Lake. 
At Waterbury Lake, exploration drilling was completed along the western strike
extension of the Discovery Bay corridor west of the J Zone uranium deposit, and
also at the Oban target area three kilometres north of the J Zone. Three drill
holes intersected weak uranium mineralization, one of which was in the
Discovery Bay corridor, with the other two being at Oban. The best down-hole
probe result was WAT14-406A at Oban, which intersected 0.09% eU3O8 over 3.0
metres from 250 to 253 metres at the sub-Athabasca unconformity. The
mineralization is associated with graphitic fault zones and strong hydrothermal
alteration. Denison is encouraged by these results as the zone is wide open
along strike in both directions. A significant amount of follow up drilling is
required. Waterbury Lake is located 10 kilometres west of the McClean Lake mill
and is a joint venture between Denison (60%) and a Korean Consortium (40%). 
At Hatchet Lake, a 2,030 metre, 10 hole program of diamond drilling was
completed. A broad zone of weak uranium mineralization was observed near the
unconformity in drill hole RL-14-19, which intersected 0.025% U3O8 over 8.5
metres from 124.2 to 132.7 metres. Additionally, significant base metal
mineralization comprised of 3.3% Pb, 0.27% Zn and 19.6 g/t Ag over 9.6 metres
was intersected in drill hole RL-14-27 from 148.0 to 157.6 metres. Additional
drilling is planned for the property in 2015. Hatchet Lake is located 16
kilometres north of the McClean Lake mill and is a joint venture between
Denison (59%) and Anthem Resources (41%). 
Finally, eleven drill holes were completed at Denison's 100% owned Bell
Lake property. Weak uranium mineralization was intersected in several holes,
with the best down-hole probe results being returned from the Bell South grid
area. Drill hole BL-14-22 intersected 0.028% eU3O8 over 2.5 metres from 517.1
to 519.6 metres at the sub-Athabasca unconformity, including 0.065% eU3O8 over
0.6 metres in a massive clay and hematite altered zone. Denison is encouraged
by the volume of strong alteration in the sandstone and basement in several of
the drill holes at Bell South, and follow up drilling is planned for 2015. Bell
Lake is located along the Athabasca seasonal road, 37 kilometres northwest of
the McClean Lake mill. 
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 14, 2014 filed under the Company's profile on
About Denison 
Denison is a uranium exploration and development company with interests in
exploration and development projects in Canada, Zambia, Namibia, and Mongolia.
Including the high grade Phoenix deposits, located on its 60% owned Wheeler
project, Denison's exploration project portfolio includes 43 projects and
totals approximately 584,000 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, plus a 25.17% interest in the Midwest
deposit and a 60% interest in the J-Zone deposit on the Waterbury property.
Both the Midwest and J Zone deposits are located within 20 kilometres of the
McClean Lake mill. Internationally, Denison owns 100% of the conventional heap
leach Mutanga project in Zambia, 100% of the uranium/copper/silver Falea
project in Mali, a 90% interest in the Dome project in Namibia, 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 DES division and is the manager of Uranium Participation Corporation, a
publicly traded company which invests in uranium oxide and uranium
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 forward-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 likelihood of completing and benefits to be
derived from corporate transactions; the estimates of Denison's mineral
reserves and mineral resources; expectations regarding the toll milling of
Cigar Lake ores; capital expenditure programs, estimated exploration and
development expenditures and reclamation costs; expectations of market prices
and costs; supply and demand for uranium ("U3O8"); possible impacts
of litigation and regulatory actions on Denison; exploration, development and
expansion plans and objectives; expectations regarding adding to its mineral
reserves and resources through acquisitions and exploration; and receipt of
regulatory approvals, permits and licenses under governmental regulatory
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 the
factors discussed in or referred to under the heading "Risk Factors"
in Denison's Annual Information Form dated March 14, 2014 available at, and in its Form 40-F available at 
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. 
Denison Mines Corp.
Ron Hochstein
President and Chief Executive Officer
(416) 979-1991 ext 232
(416) 979-5893
Denison Mines Corp.
Sophia Shane
Investor Relations
(604) 689-7842 
INDUSTRY:  Manufacturing and Production - Mining and Metals 
-0- Apr/30/2014 12:30 GMT
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