TORONTO, Oct. 20,
2022 /CNW/ - Denison Mines
Corp. ("Denison" or the "Company") (TSX: DML) (NYSE
American: DNN) is pleased to announce that it has entered into an
exploration agreement (the "Exploration Agreement") with the
Ya'thi Néné Lands and Resources Office ("YNLR"), Hatchet Lake
Denesułiné First Nation, Black Lake Denesułiné First Nation, Fond
du Lac Denesułiné First Nation (collectively, the "Athabasca
Nations") and the Northern Hamlet of Stony Rapids, the Northern Settlement of
Uranium City, the Northern
Settlement of Wollaston Lake and the Northern Settlement
of Camsell Portage (collectively, the "Athabasca
Communities") in respect of Denison's exploration and
evaluation activities within the traditional territory of the
Athabasca Nations (the "Nuhenéné"). View PDF version
The Exploration Agreement expresses the parties' intention to
build a long-term relationship between Denison and the YNLR,
Athabasca Nations, and Athabasca Communities. Denison
wishes to conduct and advance its exploration activities
in a sustainable manner that respects the Athabasca
Nations' Indigenous rights, advances reconciliation with
Indigenous peoples, and provides economic opportunities and
other benefits to the Athabasca Communities in an authentic,
cooperative and respectful way.
David Cates, Denison's President
and CEO, commented that
"This agreement
formalizes years of work that
Denison and the YNLR have undertaken together in the spirit
of collaboration, resulting in
several notable achievements,
including the renaming of Waterbury
Lake's J Zone deposit to
Tthe Heldeth Túé in honour
of the Denesułiné territory in
which the deposit is located. Our past and present
actions demonstrate a mutual willingness to engage
in positive business
practices that advance
reconciliation, and this Exploration Agreement
further codifies how the principles expressed in
Denison's Indigenous Peoples Policy will
guide our activities in the Nuhenéné
into the future."
Mary Denechezhe, YNLR Board
Chair, stated that "Our communities want to participate in
and benefit from projects happening on our lands, which
historically has not always been the case. This Exploration
Agreement will provide certainty to our Basin communities that
there will be meaningful engagement on proposed projects and
monitoring of exploration activities to ensure the environment and
all Treaty Rights are respected. The economic benefits will
help to strengthen our communities in the Basin. We acknowledge and
respect Denison's leadership in advancing reconciliation with our
communities."
The Exploration Agreement establishes a progressive and
sustainable basis for maintaining a cooperative and mutually
beneficial relationship between the parties, which respects the
rights and interests of the YNLR, Athabasca Nations and Athabasca
Communities, while supporting Denison's exploration and evaluation
activities. The Exploration Agreement includes a framework for
predictable information-sharing and permitting processes,
environmental protection and monitoring, as well as the sharing of
benefits to support community development initiatives. Through this
cooperative approach, Denison is able to obtain consent for its
exploration and evaluation activities within the Nuhenéné.
About YNLR and the Athabasca
Nations and Communities
The YNLR is a non-profit organization owned by the Athabasca
Nations of Hatchet Lake Denesułiné First Nation, Black Lake
Denesułiné First Nation, Fond du Lac Denesułiné First Nation and
the Athabasca Communities of the Northern Hamlet of Stony Rapids, the Northern Settlement of
Uranium City, the Northern
Settlement of Wollaston Lake and the Northern Settlement
of Camsell Portage.
The YNLR was established in June
2016 with the mandate to promote and enhance the
environmental, social, economic, and cultural well-being of current
and future Athabasca
residents.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca
Basin region of northern Saskatchewan,
Canada. The Company has an effective 95% interest in its
flagship Wheeler River Uranium Project, which is the largest
undeveloped uranium project in the infrastructure rich eastern
portion of the Athabasca Basin
region of northern 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 that is
contracted to process the ore from the Cigar Lake mine under a toll
milling agreement, plus a 25.17% interest in the Midwest Main and
Midwest A deposits, and a 67.01% interest in the Tthe Heldeth Túé
("THT", formerly J Zone) and Huskie deposits on the Waterbury Lake
property. The Midwest Main, Midwest A, THT and Huskie deposits are
each located within 20 kilometres of the McClean Lake mill.
Through its 50% ownership of JCU, Denison holds additional
interests in various uranium project joint ventures in Canada, including the Millennium project (JCU
30.099%), the Kiggavik project (JCU 33.8118%) and Christie Lake (JCU 34.4508%). Denison's
exploration portfolio includes further interests in properties
covering approximately 300,000 hectares in the Athabasca Basin region.
Denison is also engaged in post-closure mine care and
maintenance services through its Closed Mines group, which manages
Denison's reclaimed mine sites in the Elliot Lake region and provides related
services to certain third-party projects.
Follow Denison on Twitter @DenisonMinesCo
Cautionary Statement Regarding
Forward-Looking Statements
Certain information contained in this news release
constitutes 'forward-looking information', within the meaning of
the applicable United States and
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 'potential', 'plans',
'expects', 'budget', 'scheduled', 'estimates', 'forecasts',
'intends', 'anticipates', or 'believes', or the negatives and/or
variations of such words and phrases, or state that certain
actions, events or results 'may', 'could', 'would', 'might' or
'will' 'be taken', 'occur' or 'be
achieved'.
In particular, this news release contains forward-looking
information pertaining to the following: expectations with
respect to the obligations of, and intended cooperation with, the
parties to the Exploration Agreement; intentions regarding
engagement with respect to the Company's exploration and evaluation
programs; and expectations regarding its joint venture ownership
interests and the continuity of its agreements with its partners
and third parties.
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. For example, Denison may decide or
otherwise be required to discontinue testing, evaluation and
development work if it is unable to maintain or otherwise secure
the necessary resources (such as testing facilities, capital
funding, regulatory approvals, etc.). 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 accurate and results may differ
materially from those anticipated in this forward-looking
information. For a discussion in respect of risks and other factors
that could influence forward-looking events, please refer to the
factors discussed in Denison's Annual Information Form dated
March 25, 2022 or subsequent
quarterly financial reports under the heading 'Risk Factors'. These
factors are not and should not be construed as being
exhaustive.
Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement. Any forward-looking information and the
assumptions made with respect thereto speaks only as of the date of
this news release. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the
date of this news release to conform such information to actual
results or to changes in Denison's expectations except as otherwise
required by applicable legislation.
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SOURCE Denison Mines Corp.