Takeover Offer by White Canyon Closing This Week

White Canyon Uranium Limited (TSX VENTURE:WU)(ASX:WCU) ("White Canyon")
announces that offer for all shares of White Canyon by Denison Mines Corp.
("Denison") is scheduled to close at 5:00pm (WST) this Friday, June 17, 2011.


Highlights 



-    Denison offer for all shares of White Canyon Uranium is scheduled to   
     close at 5:00pm (WST) this Friday June 17, 2011                        
-    The A$0.24 offer, which the Directors continue to recommend and the    
     Independent Expert continues to opine to be fair and reasonable, was   
     recently declared unconditional and final by Denison                   
-    White Canyon's largest shareholders and all of its Directors have      
     accepted the offer                                                     
-    Denison has a relevant interest of 88.72% in White Canyon, as at 10    
     June 2011                                                              



As previously announced on June 1, 2011, Denison has declared its AUD$0.24 cash
offer for all of the issued shares in White Canyon to be free of all conditions,
including the 90% minimum acceptance condition. Denison has stated that the
offer is now final and will not be increased or further extended beyond the
closing date of 5.00pm (WST) Friday, 17 June 2011. 


As at 5:00pm (WST) 10 June 2011, Denison had received acceptances for 88.72% of
White Canyon shares. 


If Denison acquires a relevant interest in at least 90% of White Canyon shares
by 5:00pm (WST) Friday June, 17 2011, it will be entitled to compulsorily
acquire all outstanding White Canyon shares under Chapter 6A of the Corporations
Act, in which case Denison has announced that it intends to proceed with
compulsory acquisition of those White Canyon shares. 


If Denison does not reach 90%, and thus is not entitled to compulsorily acquire
the outstanding White Canyon shares, remaining White Canyon shareholders will be
left with a minority interest in White Canyon. Based on Denison's current
relevant interest, White Canyon will become a controlled entity of Denison.
Denison has stated that it intends to apply to remove White Canyon from the
official list of the ASX and TSX VENTURE, in addition to the other intentions
set out in section 3.3 of the Bidder's Statement. Additionally, prior to any
such removal from the official lists of the ASX and TSX VENTURE, Denison has
stated that it anticipates that White Canyon's shares could trade at prices
materially below Denison's AUD$0.24 cash Offer price and shareholders may find
it difficult to sell their shares. Consequently, the Directors of White Canyon
strongly encourage those White Canyon shareholders who have not accepted the
Denison Offer to consider all aspects of the offer and act promptly, prior to
the closing date of 5:00pm (WST) this Friday June 17, 2011. 


Completed acceptance forms must be received by no later than 5:00pm (WST) Friday
June 17, 2011. 


If you require a replacement acceptance form or you have any queries, you can
call the White Canyon Shareholder Information Line on 1800 785 131 (for callers
within Australia) or +61 2 8256 3250 (for callers outside of Australia).
Shareholders who have already accepted the Offer need not take any further
action.


About White Canyon 

White Canyon Uranium Ltd is a Perth, Western Australia-based company focused on
acquisition, exploration, and development of uranium producing properties. The
company's U.S. operations are headquartered in Moab, Utah and comprise multiple
mining tenements covering approximately 15,500 acres in Southern Utah.

White Canyon Uranium Ltd Ord (TSXV:WU)
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