Denison Announces Closing of Transaction with Skyharbour and Formation of Four Prospective Exploration Joint Ventures Proximal to Wheeler River

Executive Summary

• Denison Mines Corp. has closed its previously announced transaction with Skyharbour Resources Ltd., creating four new prospective exploration joint ventures adjacent to the Wheeler River Project.
• Ownership structures: Denison will operate Wheeler North (49% interest) and Wheeler River Inliers (70%); Skyharbour will operate Russell Lake (20% Denison interest) and Getty East (30% Denison interest).
• Earn‑In Option Agreements give Denison the right to increase its stake in Wheeler North and Getty East joint ventures up to 70%.

Key Details

• Transaction Closure: Completion of the deal between Denison Mines Corp. (TSX: DML) and Skyharbour Resources Ltd. (TSX-V: SYH).
• Joint Venture Structure:
• Wheeler North JV – Operator: Denison; Denison ownership 49%.
• Wheeler River Inliers JV – Operator: Denison; Denison ownership 70%.
• Russell Lake (RL) JV – Operator: Skyharbour; Denison ownership 20%.
• Getty East JV – Operator: Skyharbour; Denison ownership 30%.
• Earn‑In Options: Denison may increase its interest in Wheeler North and Getty East JVs to a maximum of 70% under the Earn‑In Option Agreements.
• Strategic Rationale: The new JVs enable collaborative technical work and accelerate exploration on ground adjacent to Denison’s flagship Wheeler River uranium project.
• Project Context: Wheeler River is Denison’s largest undeveloped uranium asset; recent feasibility studies (Phoenix ISR, Gryphon underground) support its low‑cost potential.
• Additional Holdings Mentioned (non‑material for this release):
• 95% interest in Wheeler River Project, 22.5% in McClean Lake JV, 25.17% in Midwest JV, 70.55% in THT & Huskie deposits, and various interests via JCU (Millennium, Kiggavik, Christie Lake).
• Forward‑Looking Statements: The release contains typical cautionary language regarding the anticipated benefits of the transaction, exploration plans, and regulatory approvals.

Notable Quotes

(No direct quotes were provided in the release.)