UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Date: February 26, 2024
Commission File Number: 001-33414
Denison Mines Corp.
(Name of
registrant)
1100-40 University Avenue
Toronto Ontario
M5J 1T1 Canada
(Address of
principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or Form
40-F.
Form
20-F ☐ Form 40-F ☒
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): ☐
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.
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DENISON MINES
CORP.
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/s/ Amanda Willett
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Date:
February 26, 2024
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Amanda
Willett
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Vice
President Legal and Corporate Secretary
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FORM 6-K
EXHIBIT INDEX
Exhibit 99.1
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Denison Mines
Corp.
1100 – 40
University Ave
Toronto, ON M5J
1T1
www.denisonmines.com
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PRESS
RELEASE
Denison
Announces Exclusive Acquisition of MaxPERF Tool
Systems,
Enhancing
Denison’s Leadership in ISR Mining in the Athabasca
Basin
Toronto, ON – February
26, 2024. Denison Mines Corp. (“Denison”) (TSX: DML, NYSE American:
DNN) is pleased to announce
that it has completed an acquisition of fixed and mobile MaxPERF
Tool Systems from Penetrators Canada Inc.
(“Penetrators”). Significantly, Penetrators has
also agreed to work exclusively with Denison with respect to the
use of the MaxPERF Tool Systems for uranium mining applications,
and related services, in Saskatchewan for a 10-year
period.
David Cates,
Denison’s President & CEO, commented, “We are pleased to
enter into this exclusive arrangement with Penetrators and add the
MaxPERF technology to Denison’s in-house ISR mining toolkit,
which we believe will further enhance our existing and significant
competitive advantage in deploying the low-cost In-Situ Recovery
(‘ISR’) mining method to our high-grade uranium
deposits in the Athabasca Basin.”
Chad Sorba,
Denison’s Vice President Technical Services & Project
Evaluation, added, “With Denison on
track to operate the first ISR uranium mine in the Athabasca Basin
region, the acquisition of the MaxPERF Tool Systems represents
another important step in our preparations for project execution
and commercial ISR mining. MaxPERF has historically been used in
the oil and gas sector and was identified by Denison as a
potentially useful tool for permeability enhancement to support ISR
mining. In 2023, Denison completed a ground-breaking multi-year
technical de-risking program at the Company’s Phoenix
deposit, which rigorously assessed and successfully applied the
MaxPERF system to enhance deposit permeability – including
its deployment as part of the highly successful Feasibility Field
Test program. Given the demonstrated success of the technology, we
look forward to continuing to work together with the team at
Penetrators to use MaxPERF in this new commercial
application.”
Dwayne West,
President of Penetrators, further commented, “Denison’s ISR
uranium mining technique is an outstanding application for the
MaxPERF technology – permeability exposure that will be
exploited for both injectivity and productivity purposes.
Penetrators is very pleased with the relationship we have built
with Denison and this partnership is a positive next
step.”
Permeability
enhancement techniques, such as the use of the MaxPERF tool, are
designed to improve hydraulic responses and inter-well connectivity
within an ISR mining pattern, essentially engineering additional
access to the natural permeability within the deposit. The
MaxPERF tool has been successfully
deployed several times as a method of permeability enhancement in
ISR field studies conducted on the Company’s potential ISR
mining projects, including at Denison’s flagship
Phoenix uranium deposit.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. Denison 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. In
mid-2023, a Feasibility Study was completed for Wheeler River's
Phoenix deposit as an ISR mining operation, and an update to the
previously prepared PFS was completed for Wheeler River's Gryphon
deposit as a conventional underground mining operation. Based on
the respective studies, both deposits have the potential to be
competitive with the lowest cost uranium mining operations in the
world. Permitting efforts for the planned Phoenix ISR operation
commenced in 2019 and have advanced significantly, with licensing
in progress and a draft Environmental Impact Statement submitted
for regulatory and public review in October 2022.
Denison’s interests in Saskatchewan also include a 22.5%
ownership interest in the McClean Lake Joint Venture, which owns
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 67.41% interest in the Tthe Heldeth
Túé (“THT”) and Huskie deposits on the
Waterbury Lake property. The Midwest Main, Midwest A, THT and
Huskie deposits are located within 20 kilometres of the McClean
Lake mill.
Through its 50% ownership of JCU (Canada) Exploration Company, Ltd
(“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 ~285,000 hectares in the Athabasca Basin
region.
About Penetrators
Penetrators is a privately owned, oil & gas industry service
company, incorporated in Alberta in 1990 and is headquartered in
Red Deer, Alberta.
Penetrators has developed the MaxPERF Drilling Tool technology
– a hydraulically actuated, mechanical tool designed to mill
wellbore casing and drill lateral tunnels into a formation pay-zone
of interest, from an existing wellbore. The MaxPERF method of
removing formation material through a rotary drilling technique
offers production companies a unique ability to expose the
pay-zone’s permeability & porosity, thus providing
unparalleled exposure to the pay-zone compared to other
conventional industry techniques.
For further information regarding Penetrators, please contact
Dwayne West at (403) 346-7474 or visit the company’s website
at maxperf.ca.
For more information, please contact:
David
Cates
(416) 979-1991 ext.
362
President and
Chief Executive Officer
Geoff Smith
(416) 979-1991 ext. 358
Vice
President Corporate Development & Commercial
Follow Denison on
Twitter @DenisonMinesCo
Qualified
Persons
The technical
information contained in this release has been reviewed and
approved by Mr. Chad Sorba, P.Geo, Denison’s Vice President
Technical Services & Project Evaluation, a Qualified Person in
accordance with the requirements of Canadian National Instrument
43-101 Mineral Disclosure Standards.
Cautionary
Statement Regarding Forward-Looking 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", "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", "be
achieved" or "has the potential to". In particular, this press
release contains forward-looking information pertaining to the
following: the anticipated services Penetrators may provide and the
objectives to be achieved with the MaxPERF acquisition; and
Denison’s percentage interest in its properties and its plans
and agreements with its joint venture partners.
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, performance or achievements of
Denison to be materially different from those expressed or implied
by 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 accurate and 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
27, 2023 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 press 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 press release. 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.
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