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 27, 2025
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 27, 2025
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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 Reports CNSC Hearing Dates for Phoenix ISR
Project
Toronto,
ON – February 27, 2025. Denison Mines Corp.
(“Denison” or the “Company”) (TSX: DML, NYSE American: DNN) is pleased
to announce that the Canadian Nuclear Safety Commission
(“CNSC”) Registrar has set the schedule for the
CNSC public hearing (“Hearing”) for the Wheeler River Uranium Project
(“Wheeler
River”, or the
“Project”). The Hearing is scheduled to be held in
two parts (October 8, 2025, and December 8 to 12, 2025) and
represents the final step in the federal approval process for the
Project’s Environmental Assessment
(“EA”)
and Licence to Prepare and Construct a Uranium Mine and Mill
(“Licence”).
Based on this
schedule, if the CNSC makes a prompt decision to approve the
Project following the completion of the Hearing, the Company
expects to be able to commence site preparation and construction
activities for the Phoenix In-Situ Recovery
(“ISR”) project in early
2026.
The announcement
of the Hearing schedule follows the successful completion of
multiple key regulatory milestones in late 2024, including (i)
completion of the technical review phase of the federal EA approval
process in November, (ii) acceptance by the CNSC of the
Company’s final Environmental Impact Statement
(“EIS”) for the Project in December, and (iii)
the CNSC’s determination of the sufficiency of
Denison’s Licence application, also in November.
These accomplishments indicate
that the CSNC staff support the advancement of the Project
and are transitioning their efforts to prepare an evidence-based
summary report for the Commission members that will govern the
Hearing and render their decision on the EA and Licence once the
Hearing is complete.
David Cates,
President and CEO of Denison commented, “The
scheduling of the Hearing and acceptance of the final federal EIS
by the CNSC represent significant additional achievements for
Denison in our efforts to obtain the regulatory approvals necessary
to commence construction of the Phoenix ISR uranium mining
operation. Importantly, obtaining clarity on the Hearing schedule
significantly reduces uncertainty regarding the timeline for
Federal project approvals and allows our operations team to
finalize our construction planning efforts with greater precision.
With the potential to commence construction in early 2026, we
expect to be able to maintain our target of achieving first
production from Phoenix by the first half of
2028.”
About Denison
Denison is a leading
uranium mining, development, and exploration 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, the
Phoenix feasibility study was completed for the Phoenix deposit as
an ISR mining operation, and an update to the previously prepared
2018 Pre-Feasibility Study ('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 several notable milestones were
achieved in 2024 with the submission of federal licensing documents
and the acceptance of the final form of the project’s
Environmental Impact Statement by the Province of Saskatchewan and
the Canadian Nuclear Safety Commission.
Denison's interests in
Saskatchewan also include a 22.5% ownership interest in the McClean
Lake Joint Venture ('MLJV'), which includes unmined uranium
deposits (planned for extraction via the MLJV's SABRE mining method
starting in 2025) and the McClean Lake uranium mill (currently
utilizing a portion of its licensed capacity to process the ore
from the Cigar Lake mine under a toll milling agreement), plus a
25.17% interest in the Midwest Joint Venture ('MWJV')'s Midwest
Main and Midwest A deposits, and a 69.44% interest in the Tthe
Heldeth Túé ('THT') and Huskie deposits on the Waterbury
Lake Property ('Waterbury'). The Midwest Main, Midwest A, THT and
Huskie deposits are located within 20 kilometres of the McClean
Lake mill. Taken together, Denison has direct ownership interests
in properties covering ~384,000 hectares in the Athabasca Basin
region.
Additionally, through its
50% ownership of JCU (Canada) Exploration Company, Limited ('JCU'),
Denison holds 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%).
In 2024, Denison celebrated its 70th year in uranium mining,
exploration, and development, which began in 1954 with
Denison’s first acquisition of mining claims in the Elliot
Lake region of northern Ontario.
For more information, please contact
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David Cates
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(416) 979-1991 ext.
362
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President and Chief Executive
Officer
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Geoff Smith
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(416) 979-1991 ext. 358
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Vice President Corporate Development &
Commercial
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Follow Denison on
Twitter
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@DenisonMinesCo
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
Certain
information contained in this press 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
‘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 Company’s expectations with respect to the Hearing and
the EA and Licensing process, development plans for Wheeler River
and the proposed ISR operation for the Phoenix deposit;
expectations regarding Denison’s joint venture ownership
interests; and expectations regarding the objectives and continuity
of its agreements with third parties. 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.
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, the
results of the Hearing may not be as anticipated. In addition,
Denison may decide or otherwise be required to discontinue
development work if it is unable to maintain or otherwise secure
the necessary approvals or resources (such as testing facilities,
capital funding, 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 the
Company’s Annual Information Form dated March 28, 2024 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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