Latest news with #Denison
Business Upturn
15-05-2025
- Business
- Business Upturn
Foremost Clean Energy Completes Highly Successful Exploration Drill Program at Hatchet Uranium Property and Provides Corporate Update
Highlights include: Anomalous radioactivity was detected in 6 out of 10 completed drill holes, assay results are pending At Tuning Fork, identification of an extensive hydrothermal system, strong alteration halo, and anomalous radioactivity surrounding drill hole TF-25-16 At Richardson, uranium mineralization was extended 50-metres along the Richardson conductor in drill hole RL-25-32 confirming system's growth potential VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) — Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ('Foremost' or the 'Company') completed a highly successful maiden winter drill program at the Hatchet Lake Uranium Property ('Hatchet'), which is located in the world-renowned Athabasca Basin region of northern Saskatchewan (Figure 1). The diamond drill program, originally planned as an 8-hole ~2,000 metre program, increased to 10-holes for over 2,400 metres following positive preliminary results from drill hole TF-25-16 – which discovered a new area of uranium mineralization highlighted by a mineralized interval of 0.10% eU 3 O 8 over 6.5m, including 0.22% eU 3 O 8 over 0.9m, within a 15m wide zone of alteration. Anomalous radioactivity was detected directly above and/or below the unconformity in six of the ten drill holes completed as part of the drill program: RL-25-32, TF-25-13, TF-25-16, TF-25-17, TF-25-18, and TF-25-19. Samples from the mineralized intersections in these drill holes have been submitted for assay and results are pending. A notable highlight from the completion of the drill program was the 50 metre extension of previous mineralization along the Richardson conductor with drill hole RL-25-32, which returned two discrete mineralized intervals, as summarized in Table 1. Table 1 – Drill Hole RL-25-32 – Downhole Gamma Probe Highlights From (m) To (m) Length (m) (1) eU 3 O 8 (%)(2) 89.94 90.14 0.2 0.082 239.54 239.74 0.2 0.077 (1) Final depth measurements and true thickness have not yet been determined (2) Composited at a 0.05% eU 3 O 8 cut-off Jason Barnard, Foremost's President and CEO commented, 'Our immediate success at Hatchet is attributable to Foremost's unique collaboration with Denison Mines Corp. ('Denison'), where Denison's extensive historic work on the property has identified several prospective structural settings for the potential discovery of uranium mineralization. We are particularly excited about the result from drill hole TF-25-16, which was the first hole completed in a 600-meter gap in an under-explored target area, resulting in the discovery of a new area of uranium mineralized. Based on follow up drilling in this area we are seeing strong radioactivity within graphitic shear zones, classic Athabasca-style clay alteration, and evidence of multiple mineralization events – making this an exciting new discovery with many of the hallmarks of a high-grade unconformity system that is open in every direction.' 'For our shareholders, these results validate our strategy and speak to the potential of Foremost's ten uranium exploration properties under option from Denison: leveraging our strategic collaboration with Denison to make high-impact discoveries in one of the world's premier uranium districts. As we await assays from Hatchet and plan further follow-up drilling, we're equally excited to be able to apply the same exploration model across our portfolio, including expected upcoming drill programs at CLK and Murphy Lake South.' Figure 1 – Hatchet Lake location and overview map Tuning Fork Figure 2 – Tuning Fork Claim Block – 2025 drill hole locations and historical results. Two drill holes were completed for initial follow up of the mineralization discovered in TF-25-16 – with TF-25-17 & TF-25-18 drilled off the same pad location as TF-25-16 and designed to examine the up-dip and down-dip extension of the mineralization intersected in TF-25-16. Two additional drill holes, TF-25-19 & TF-25-20, were completed to target the conductor axis 40-metres and 60-metres NE and SW, respectively, to test the along strike extension of the mineralization encountered in TF-25-16 (Figure 2). Extensive hydrothermal alteration (clay, hematite, and chlorite) was encountered with elevated radioactivity near the unconformity in each of the follow up drill holes, except for TF-25-20. These alteration markers are potentially indicative of a significant hydrothermal system, and when combined with confirmed uranium mineralization near major structural boundaries, represent one of the most reliable indicators of a high-potential area for follow-up. Richardson Figure 3 – Richardson Claim Block – 2025 drill hole locations and historical results. The mineralization discovered in RL-25-32, at an approximate depth of 90 metres, is interpreted to be an extension of the mineralization intersected by RL-24-29 in 2024 (Figure 3). The second mineralized interval in RL-25-32, intersected mineralization at a depth of approximately 240 metres, which represents a new horizon for mineralization on the Richardson conductor, as previous drilling was generally aimed at shallow targets. Overall, the confirmation of mineralization along strike and the discovery of a new mineralized interval at depth is highly encouraging for the Richardson trend and suggests that there may be potential to discover additional mineralization along trend at depth, which is largely untested by historical drilling. Numerous additional target locations have been identified on the Richardson trend and warrant future drill testing. Samples from drill core were collected during the drill program and shipped to SRC Geoanalytical Labs ('SRC') and all applicable Portable Infrared Mineral Analyzer ('PIMA') samples have been shipped to Rekasa Rocks Inc. to analyze and determine clay species. Assays are currently undergoing analysis and will be announced by news release upon completion, expected in the coming weeks. Planned Follow-Up Exploration at Hatchet Lake Work in 2025 will focus on integrating newly acquired geochemical, structural, and geological data to refine vectors toward the potential source of the recently discovered mineralization. Ground geophysics is currently being evaluated to help de-risk future drilling by delineating key structures and alteration zones identified in the latest campaign. A winter 2025–2026 drill program is being planned to test newly defined anomalies and advance the geological understanding of the mineralization intersected in drillhole TF-25-16. Conducting the program during the winter season will enable drilling of high priority targets accessible by drilling from frozen lake surfaces. Additional follow-up exploration is scheduled across the broader Hatchet Lake property during this period, positioning the project for its next phase of discovery and development. Technical Advisor Appointment Foremost is pleased to report the appointment of Chad Sorba, Denison's Vice President of Technical Services & Project Evaluation, as Technical Advisor to the Company pursuant to the transaction announced with Denison in 2024. Mr. Sorba is a Professional Geologist (P. Geo) with nearly two decades of experience in Canadian and international uranium exploration, evaluation, and development, and serves as Denison's Qualified Person pursuant to NI 43-101. During his tenure at Denison, he has led various projects, including Denison's flagship Wheeler River project, from discovery through to various levels of technical assessments, and evaluated numerous uranium projects for their economic potential, supporting several of Denison's past asset acquisitions. Mr. Sorba is a key technical leader of the Denison team that is pioneering the use of the In-Situ Recovery ('ISR') mining method at certain high-grade uranium deposits in Saskatchewan, including involvement in the design and implementation of the first-of-its-kind ISR feasibility field test, which was successfully completed at Denison's Phoenix deposit. He was a critical member of the discovery team for both of Denison's Phoenix and Gryphon uranium deposits and brings a wealth of Athabasca-focused expertise in uranium exploration to Foremost. Mr. Sorba's advisory role reinforces Foremost's commitment to technical excellence, disciplined project development, and value-driven growth in the uranium sector. This collaboration aligns with the Company's strategy to leverage world-class expertise as it progresses its exploration and development objectives. Sampling, Analytical Methods and QA/QC Protocols Following the completion of a drill hole, the hole is radiometrically logged using a downhole gamma probe, which collects readings of radioactivity every 0.1m along the length of the drill hole. Probe results are then calibrated using an algorithm calculated from the comparison of probe results against a geochemical reference. The gamma-log results provide an immediate radiometric equivalent uranium value (eU3O8%) for the hole, which, except in very high-grade zones, is reasonably accurate. The downhole gamma probe data detailed in this news release was measured using a QL40-GR Natural Gamma probe from Mount Sopris that was calibrated on February 27, 2025, at the Grand Junction, CO, calibration test pits. Downhole measurements were taken at 0.10m intervals from the top of hole and depth corrected to the handheld RS-125 scintillometer, which was used to determine radioactivity of the core. Final depth measurements and true thickness have not yet been determined. Where core has been recovered, sampling over mineralized interval is standardized 0.5m samples, except over intervals of strongly elevated radioactivity where select samples between 0.10 & 0.25m were collected. This includes shoulder samples 1m above and below the elevated zone. These select samples were split in half, with one kept in the core box and the other shipped to SRC for sample preparation and analysis. SRC is an independent laboratory with ISO/IEC 17025: 2005 accreditation for the relevant procedures. Control samples are implemented at a frequency of ~5%. PIMA samples were taken systematically every 10m with increased sample density around strong alteration. Samples were dried and placed into Ziplock bags in preparation for shipping to Rekasa Rocks Inc. PIMA samples are used to identify the different clay species present in the sample to identify clay minerals that can assist in the identification of a potential hydrothermal source. Qualified Person The technical content of this news release has been reviewed and approved by Jordan Pearson, P. Geo., Project Geologist for Dahrouge Geological Consulting Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and reviewed the content of this press release. A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property's potential and are relevant for any future exploration program. About Foremost Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs. Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company's website at Contact and Information CompanyJason Barnard, President and CEO+1 (604) 330-8067 [email protected]
Hamilton Spectator
15-05-2025
- Business
- Hamilton Spectator
Foremost Clean Energy Completes Highly Successful Exploration Drill Program at Hatchet Uranium Property and Provides Corporate Update
Highlights include: VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) — Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) ('Foremost' or the 'Company') completed a highly successful maiden winter drill program at the Hatchet Lake Uranium Property ('Hatchet'), which is located in the world-renowned Athabasca Basin region of northern Saskatchewan (Figure 1). The diamond drill program, originally planned as an 8-hole ~2,000 metre program, increased to 10-holes for over 2,400 metres following positive preliminary results from drill hole TF-25-16 – which discovered a new area of uranium mineralization highlighted by a mineralized interval of 0.10% eU3O8 over 6.5m, including 0.22% eU3O8 over 0.9m, within a 15m wide zone of alteration. Anomalous radioactivity was detected directly above and/or below the unconformity in six of the ten drill holes completed as part of the drill program: RL-25-32, TF-25-13, TF-25-16, TF-25-17, TF-25-18, and TF-25-19. Samples from the mineralized intersections in these drill holes have been submitted for assay and results are pending. A notable highlight from the completion of the drill program was the 50 metre extension of previous mineralization along the Richardson conductor with drill hole RL-25-32, which returned two discrete mineralized intervals, as summarized in Table 1. Table 1 – Drill Hole RL-25-32 – Downhole Gamma Probe Highlights (1) Final depth measurements and true thickness have not yet been determined (2) Composited at a 0.05% eU 3 O 8 cut-off Jason Barnard, Foremost's President and CEO commented, 'Our immediate success at Hatchet is attributable to Foremost's unique collaboration with Denison Mines Corp. ('Denison'), where Denison's extensive historic work on the property has identified several prospective structural settings for the potential discovery of uranium mineralization. We are particularly excited about the result from drill hole TF-25-16, which was the first hole completed in a 600-meter gap in an under-explored target area, resulting in the discovery of a new area of uranium mineralized. Based on follow up drilling in this area we are seeing strong radioactivity within graphitic shear zones, classic Athabasca-style clay alteration, and evidence of multiple mineralization events – making this an exciting new discovery with many of the hallmarks of a high-grade unconformity system that is open in every direction.' 'For our shareholders, these results validate our strategy and speak to the potential of Foremost's ten uranium exploration properties under option from Denison: leveraging our strategic collaboration with Denison to make high-impact discoveries in one of the world's premier uranium districts. As we await assays from Hatchet and plan further follow-up drilling, we're equally excited to be able to apply the same exploration model across our portfolio, including expected upcoming drill programs at CLK and Murphy Lake South.' Figure 1 – Hatchet Lake location and overview map Tuning Fork Figure 2 – Tuning Fork Claim Block - 2025 drill hole locations and historical results. Two drill holes were completed for initial follow up of the mineralization discovered in TF-25-16 – with TF-25-17 & TF-25-18 drilled off the same pad location as TF-25-16 and designed to examine the up-dip and down-dip extension of the mineralization intersected in TF-25-16. Two additional drill holes, TF-25-19 & TF-25-20, were completed to target the conductor axis 40-metres and 60-metres NE and SW, respectively, to test the along strike extension of the mineralization encountered in TF-25-16 (Figure 2). Extensive hydrothermal alteration (clay, hematite, and chlorite) was encountered with elevated radioactivity near the unconformity in each of the follow up drill holes, except for TF-25-20. These alteration markers are potentially indicative of a significant hydrothermal system, and when combined with confirmed uranium mineralization near major structural boundaries, represent one of the most reliable indicators of a high-potential area for follow-up. Richardson Figure 3 – Richardson Claim Block - 2025 drill hole locations and historical results. The mineralization discovered in RL-25-32, at an approximate depth of 90 metres, is interpreted to be an extension of the mineralization intersected by RL-24-29 in 2024 (Figure 3). The second mineralized interval in RL-25-32, intersected mineralization at a depth of approximately 240 metres, which represents a new horizon for mineralization on the Richardson conductor, as previous drilling was generally aimed at shallow targets. Overall, the confirmation of mineralization along strike and the discovery of a new mineralized interval at depth is highly encouraging for the Richardson trend and suggests that there may be potential to discover additional mineralization along trend at depth, which is largely untested by historical drilling. Numerous additional target locations have been identified on the Richardson trend and warrant future drill testing. Samples from drill core were collected during the drill program and shipped to SRC Geoanalytical Labs ('SRC') and all applicable Portable Infrared Mineral Analyzer ('PIMA') samples have been shipped to Rekasa Rocks Inc. to analyze and determine clay species. Assays are currently undergoing analysis and will be announced by news release upon completion, expected in the coming weeks. Planned Follow-Up Exploration at Hatchet Lake Work in 2025 will focus on integrating newly acquired geochemical, structural, and geological data to refine vectors toward the potential source of the recently discovered mineralization. Ground geophysics is currently being evaluated to help de-risk future drilling by delineating key structures and alteration zones identified in the latest campaign. A winter 2025–2026 drill program is being planned to test newly defined anomalies and advance the geological understanding of the mineralization intersected in drillhole TF-25-16. Conducting the program during the winter season will enable drilling of high priority targets accessible by drilling from frozen lake surfaces. Additional follow-up exploration is scheduled across the broader Hatchet Lake property during this period, positioning the project for its next phase of discovery and development. Technical Advisor Appointment Foremost is pleased to report the appointment of Chad Sorba, Denison's Vice President of Technical Services & Project Evaluation, as Technical Advisor to the Company pursuant to the transaction announced with Denison in 2024. Mr. Sorba is a Professional Geologist (P. Geo) with nearly two decades of experience in Canadian and international uranium exploration, evaluation, and development, and serves as Denison's Qualified Person pursuant to NI 43-101. During his tenure at Denison, he has led various projects, including Denison's flagship Wheeler River project, from discovery through to various levels of technical assessments, and evaluated numerous uranium projects for their economic potential, supporting several of Denison's past asset acquisitions. Mr. Sorba is a key technical leader of the Denison team that is pioneering the use of the In-Situ Recovery ('ISR') mining method at certain high-grade uranium deposits in Saskatchewan, including involvement in the design and implementation of the first-of-its-kind ISR feasibility field test, which was successfully completed at Denison's Phoenix deposit. He was a critical member of the discovery team for both of Denison's Phoenix and Gryphon uranium deposits and brings a wealth of Athabasca-focused expertise in uranium exploration to Foremost. Mr. Sorba's advisory role reinforces Foremost's commitment to technical excellence, disciplined project development, and value-driven growth in the uranium sector. This collaboration aligns with the Company's strategy to leverage world-class expertise as it progresses its exploration and development objectives. Sampling, Analytical Methods and QA/QC Protocols Following the completion of a drill hole, the hole is radiometrically logged using a downhole gamma probe, which collects readings of radioactivity every 0.1m along the length of the drill hole. Probe results are then calibrated using an algorithm calculated from the comparison of probe results against a geochemical reference. The gamma-log results provide an immediate radiometric equivalent uranium value (eU3O8%) for the hole, which, except in very high-grade zones, is reasonably accurate. The downhole gamma probe data detailed in this news release was measured using a QL40-GR Natural Gamma probe from Mount Sopris that was calibrated on February 27, 2025, at the Grand Junction, CO, calibration test pits. Downhole measurements were taken at 0.10m intervals from the top of hole and depth corrected to the handheld RS-125 scintillometer, which was used to determine radioactivity of the core. Final depth measurements and true thickness have not yet been determined. Where core has been recovered, sampling over mineralized interval is standardized 0.5m samples, except over intervals of strongly elevated radioactivity where select samples between 0.10 & 0.25m were collected. This includes shoulder samples 1m above and below the elevated zone. These select samples were split in half, with one kept in the core box and the other shipped to SRC for sample preparation and analysis. SRC is an independent laboratory with ISO/IEC 17025: 2005 accreditation for the relevant procedures. Control samples are implemented at a frequency of ~5%. PIMA samples were taken systematically every 10m with increased sample density around strong alteration. Samples were dried and placed into Ziplock bags in preparation for shipping to Rekasa Rocks Inc. PIMA samples are used to identify the different clay species present in the sample to identify clay minerals that can assist in the identification of a potential hydrothermal source. Qualified Person The technical content of this news release has been reviewed and approved by Jordan Pearson, P. Geo., Project Geologist for Dahrouge Geological Consulting Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and reviewed the content of this press release. A qualified person has not performed sufficient work or data verification to validate the historical results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property's potential and are relevant for any future exploration program. About Foremost Foremost Clean Energy Ltd. (NASDAQ: FMST) (CSE: FAT) (WKN: A3DCC8) is a rapidly growing North American uranium and lithium exploration company. The Company holds an option to earn up to a 70% interest in 10 prospective uranium properties (with the exception of the Hatchet Lake, where Foremost is able to earn up to 51%), spanning over 330,000 acres in the prolific, uranium-rich Athabasca Basin region of northern Saskatchewan. As the demand for carbon-free energy continues to accelerate, domestically mined uranium and lithium are poised for dynamic growth, playing an important role in the future of clean energy. Foremost's uranium projects are at different stages of exploration, from grassroots to those with significant historical exploration and drill-ready targets. The Company's mission is to make significant discoveries alongside and in collaboration with Denison through systematic and disciplined exploration programs. Foremost also has a portfolio of lithium projects at varying stages of development, which are located across 55,000+ acres in Manitoba and Quebec. For further information, please visit the Company's website at . Contact and Information Company Jason Barnard, President and CEO +1 (604) 330-8067 info@ Follow us or contact us on social media: X: @fmstcleanenergy LinkedIn: Facebook: Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute 'forward-looking statements' as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects' or 'does not expect,' 'is expected,' 'anticipates' or 'does not anticipate,' 'plans,' 'estimates' or 'intends,' or stating that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties and satisfaction of the conditions to the option agreement with Denison, risks and uncertainties associated with the environment, delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company's most recent filings under its profile on Sedar+ at and on Edgar at for further information respecting the risks affecting the Company and its business. The CSE has neither approved nor disapproves the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. Figures accompanying this announcement are available at:
New York Times
14-05-2025
- Sport
- New York Times
Michael Jordan card prices are surpassing pandemic peaks — why now?
There are many theories why the value of sports cards exploded during the pandemic but the fact itself is undeniable. The peak prices achieved then are viewed as an outlier, a bubble, something to be ignored when looking at the otherwise linear appreciation of vintage cards. But four years after that market peak of early 2021, that's not true for a subset of low-population cards of the long-retired athlete most identified with this period. These cards are now hitting new highs, surpassing even peak pandemic levels. Advertisement According to Bryan Denison, 'Cajun Cardboard' on YouTube, a Michael Jordan card collector who closely tracks their values, the most recent Fanatics Collect auction saw multiple Jordan cards exceed or meet prior-highest-ever prices. Denison has a 41-part series on YouTube where he ranks Jordan cards based on 'demand, aesthetics, scarcity and value.' His top tier of Jordan cards out of the 378 he assesses (you can see all four tiers listed out here) are mostly low population cards from the 1990s in high grades. This tier consists of 27 cards. While it includes his iconic 1986-87 Fleer rookie card for its demand, Denison's most heavily-weighted criteria, the card's value is currently a fraction of its all-time high (last sale of a gem-mint PSA 10 grade example sold for $348,000 in April and the all-time high was $645,000 in February 2021) while others are soaring. Top row: 1997 Metal Universe PMG Green #23 /10, 1997 Metal Universe PMG Red #23 /100* (Qty. 90), 1997 Metal Universe Championship PMG #23 /50, 1998 Metal Universe PMG #1 /50, 1998 Skybox Molten Metal Fusion Titanium #41 /40, 1997 E-X2001 Essential Credentials Now #9 /9, 1997 E-X2001 Essential Credentials Future #9 /72, 1998 UD Choice Starquest Gold #SQ30 /100, 1997 Finest Die-Cut Gold Embossed Refractor #154 /74 Middle row: 1998 Fleer Tradition Playmakers Theatre #9 /100, 1986 Fleer #57, 1997 Ultra Stars Gold #1, 1998 Hoops Slam Bams #1 /100, 1984 Star #101, 1997 Skybox Premium Team Skybox Star Rubies #235 /50, 1997 Skybox Premium Star Rubies #29 /50, 1998 Skybox Premium Star Rubies #23 /50, 1997 SPx Grand Finale #6 /50 Bottom row: 1997 E-X2001 Jambalaya #6, 1997 Flair Showcase Row 0 Legacy Collection #1 /100, 1997 Flair Showcase Row 1 Legacy Collection #1 /100, 1997 Flair Showcase Row 2 Legacy Collection #1 /100, 1997 Flair Showcase Row 3 Legacy Collection #1 /100, 1996 Flair Showcase Row 0 Legacy Collection #23 /150, 1996 Flair Showcase Row 1 Legacy Collection #23 /150, 1996 Flair Showcase Row 2 Legacy Collection #23 /150, 1998 NBA Hoops Starting Five #23 /5 Advertisement It was that Jordan rookie card that became the symbol of the exploding sports card hobby during the pandemic. The combination of a housebound nation and the suspension of sports made his 'The Last Dance' docuseries a phenomenon. During its 10-episode run that spanned five weeks, 'The Last Dance' became the most viewed documentary in ESPN history. Then it transferred to Netflix, attracting nearly 24 million more international viewers. It turned out that many wanted to cap the experience by spending some of the money they saved by not being able to do anything or go anywhere on Jordan cards, particularly targeting his rookie card, a category long regarded as the best investment among buyers. 'Cards actually entered a boom in 2018,' Denison said. 'At least what anyone in their right mind would consider a boom. Then the pandemic scared everyone (in the hobby) — we thought cards would go down. But they went up. … Then the Jordan doc hits and creates a wave of nostalgia and a massive increase in demand early in 2021. 'But it was uneducated, FOMO (fear of missing out), unsophisticated. People ignored the fundamentals of card populations and what was certain to happen once grading got back online. There were thousands and thousands of cards that were going to be added to (graded) populations. So it was inorganic growth. You can say the supply was unknown but savvy people knew. Remember, 95 percent of cards in the hobby don't matter at all. Only five percent do. And for the five percent of cards, the so-called pandemic peak will prove to be just a speed bump.' The Jordan rookie, according to Denison, is too common to meet all of his top-tier criteria. According to CardLadder, which tracks trading card prices and populations, there are more than 47,000 graded examples of that card. That includes over 900 in gem mint condition. Denison said he sold his perfect Jordan rookie during the peak and put all that money into other Jordan cards in lower populations that were being largely ignored by newbie investors, 'big-money fund managers and rich people' who he says 'knew nothing about this market.' As iconic as the Jordan rookie card remains in the hobby, it's been mired in a post-peak malaise, relatively speaking. A PSA 8 (NM-MT on a scale of 1-to-10) sells for about $8,000-to-$9,000 now, according to CardLadder, far off its pandemic high of $20,000. Even if you ignore the top of the market that spiked dramatically and quickly retreated over a period of just a few months, your five-year return on investment on a Jordan rookie card is only about 30 percent. The S&P 500 has doubled in value in the same period. Advertisement But contrast that to Denison's rarities, which are at least matching and often selling well above prior highs. In a recent video, he highlighted eight cards, including a Jordan 1997 Flair Showcase Legacy Row Two numbered to 100 in PSA 8 condition, a 1996 Topps Mystery Finest Borderless Refractor and a widely issued 1992 Upper Deck McDonald's Hologram that's very hard to find in gem mint condition due to printing issues. Denison used historic prices to illustrate how all reached new highs, with the Topps Mystery selling for over four times more than its previous top sale. Savvy buyers are embracing the fundamentals of supply and demand. 'With the way modern cards are trending, people are going for true rare and scarce,' said Juho Whang, a New Jersey-based collector/investor who also sets up occasionally at shows. 'I collect Jordans. Focusing on scarcity is the way to go — 1990s playing days in a Bulls' uniform in low population and in high grade.' Whang warns that you need pretty deep pockets to pursue these cards at current prices, which are well into the four figures at a minimum. Whang added that he has an 8.5 BVG (Beckett graded) rookie Jordan and that the card had been worth as much as $17,000. But it's now worth about half that. If you ignore the very brief pandemic-fueled period where the card could have fetched that top amount, Whang said the card is 'basically keeping up with inflation.' Denison has his Top 10 Jordan cards listed on the Fanatics Collect website. They are not listed in order. When pushed to pick a top five in order of expected return, he listed the 1997 Metal Universe Precious Metal Gems at the top (the Red, Championship and Green), 1997 SPx Grand Finale, and 1997 Skybox Premium Star Rubies. All of those cards had print runs of 100 or less. Denison and Whang agree these are old-school concepts rooted in the vintage, '50s and '60s era where the supply of cards is a paramount consideration. Back then, parents created scarcity by throwing children's cards away every year. For the past 30 years or so, that scarcity has been manufactured into the products. But sometimes it's due to the rarity of a common card in high grade. Advertisement Jordan's popularity is expected to endure. He is still consistently the most searched athlete across all sports on eBay every month, beating out the hottest stars of today. His brand and especially his sneakers keeps him relevant to new generations, and it was recently announced that he'll be joining the NBA coverage on NBC as a special contributor. He's widely considered to be at that Babe Ruth and Mickey Mantle level of transcendent sports superstardom that will never fade in the eyes of the public. The Athletic maintains full editorial independence in all our coverage. When you click or make purchases through our links, we may earn a commission.
Cision Canada
13-05-2025
- Business
- Cision Canada
Denison Reports Financial and Operational Results for Q1 2025, Highlighted by Continued Advancement of the Phoenix Project, and the Results of its Shareholder Meeting
TORONTO, May 12, 2025 /CNW/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended March 31, 2025. Both documents will be available on the Company's website (at SEDAR+ (at and EDGAR (at The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. View PDF Version View PDF David Cates, President and CEO of Denison commented, " With the Canadian Nuclear Safety Commission ('CNSC') announcing in Q1'2025 the scheduling of a public hearing ('Hearing') for our flagship Phoenix In-Situ Recovery ('ISR') project in late 2025, our focus for the remainder of the year has shifted to completion of the detailed design engineering phase and advancement of construction planning and procurement efforts. Our plans are designed to put us in a position to start construction in early 2026, following anticipated regulatory approvals. Based on this timeline, we expect to be able to maintain our previous guidance of first production from Phoenix by mid-2028, which would make Phoenix the first new large-scale uranium mine in northern Saskatchewan since the Cigar Lake mine was commissioned in 2014. By the end of Q1'2025, we have achieved approximately 75% completion of total engineering for Phoenix, and we have already funded over $7 million and committed a further $67 million for long-lead capital purchases. With 2.2 million pounds U 3 O 8 in physical uranium holdings on hand, a strong cash balance, and no debt, Denison remains in an enviable financial position – able to fund both (i) our pre-Final Investment Decision ('FID') investments in Phoenix and (ii) important potential future growth initiatives. At our McClean Lake Joint Venture ('MLJV') with Orano Canada, we are expecting 2025 to be a notable year with the commencement of mining at the McClean North deposit using the MLJV's patented Surface Access Borehole Resource Extraction ('SABRE') mining method. Thus far this year, site preparation activities have recommenced and we are expecting mining to commence in the coming months. In addition to our planned investments in the Company's project development portfolio, we are working to amplify our exposure to exploration discovery. With that objective we entered into agreements with Cosa Resources Corp. ('Cosa') (TSX-V: COSA) in Q1'2025 and Foremost Clean Energy ('Foremost') (NASDAQ:FMST) (CSE:FAT) in Q4'2024, both of which involve collaborating on the exploration of several of Denison's non-core properties. Initial exploration results from this strategy are encouraging – as Cosa has already identified a two-kilometre strike extension of the Hurricane Trend through its initial drilling program at the Murphy Lake North uranium property, and Foremost has reported a new discovery of uranium mineralization at the Hatchet Lake uranium property. At the corporate level, during the quarter, we welcomed Ken Hartwick, who previously served as the CEO of Ontario Power Generation, and Jinsu Baik, KHNP Canada Energy Ltd.'s nominee, to the Denison board of directors. We believe Ken and Jinsu will bolster the breadth of nuclear industry and commercial knowledge on our Board and enhance its oversight during the critical process of Phoenix project execution and marketing of our future uranium production. We are also pleased to welcome Wes Carson, Vice President, Mining Operations at Wheaton Precious Metals Corp., to the Denison board today, after his election at Denison's annual and special shareholders meeting. Wes enhances the depth of technical expertise on our Board, as he brings a wealth of mining industry experience and best practices, having held a variety of leadership roles in operations, project development, and engineering." Highlights Regulatory Approval Hearing Dates set for the Phoenix ISR Project Supporting Guidance for First Production by First Half of 2028 The Canadian Nuclear Safety Commission ('CNSC') Registrar announced the schedule for the CNSC public hearing (the 'Hearing') for the Wheeler River Uranium Project ('Wheeler River'). 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 Wheeler River Project's ('Project') Environmental Assessment ('EA') and the Licence to Prepare and Construct a Uranium Mine and Mill ('Licence'). The Hearing dates are expected to support commencement of construction in early 2026 and first production in the first half of 2028, consistent with past guidance. 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. Achieved 75% Completion of Total Engineering for Phoenix In January 2024, Denison awarded a contract to Wood Canada Limited ('Wood'), for the completion of a significant portion of the detailed design engineering for the Phoenix ISR project. The work commenced in the first quarter of 2024 and is expected to be substantially completed in the third quarter of 2025. Phoenix detailed design engineering activities are an important element of the Company's continued efforts on advancing Phoenix towards a final investment decision ('FID'), in support of its objective to achieve first production by the first half of 2028. Total engineering completion at end of the first quarter of 2025 was approximately 75%, supported by finalization of process design, piping and instrumentation diagrams ('P&ID's'), hazard and operability studies ('HAZOPs'), selection of major process equipment, electrical distribution infrastructure and substantially complete on civil engineering design. The completion of the detailed design engineering has been scheduled to ensure Denison is ready to commence project construction upon receipt of regulatory approval. Site preparation activities have recommenced at McClean North in preparation for the 2025 SABRE mining program. Site development is on track to support the commencement of mining activities in mid-2025. Appointment of New Board Members In March 2025, Denison announced the appointment of Ken Hartwick, who previously served as the CEO of Ontario Power Generation ('OPG'). Mr. Hartwick's appointment comes following the retirement from the Board of Brian Edgar, after having served as a Director of Denison and its predecessors for over 20 years. Denison also reported the appointment of Mr. Jinsu Baik to the Board, replacing Mr. Jong Ho Hong as KHNP Canada Energy Ltd.'s ('KHNP Canada') nominated director to the Board. Additionally, Mr. Wes Carson, Vice President, Mining Operations at Wheaton Precious Metals Corp., was appointed to the Board at the Corporation's annual and special shareholder meeting held on May 12, 2025. Formation of Exploration Joint Ventures with Cosa Resources Corp. In January 2025, Denison completed an acquisition agreement with Cosa Resources Corp. ('Cosa') for Cosa to acquire a 70% interest in three of Denison's properties in the eastern portion of the Athabasca Basin region in northern Saskatchewan in exchange for approximately 14.2 million Cosa common shares, $2.25M in deferred equity consideration, and a commitment to spend $6.5 million in exploration expenditures on the properties. Upon the close of the transaction, Denison became Cosa's largest shareholder (representing ~19.95% ownership interest in Cosa at that time) and Denison and Cosa formed three uranium exploration joint ventures. 2025 Annual & Special Shareholders Meeting Denison is also pleased to report the passing of all items of business presented to shareholders at the Company's annual and special shareholders meeting held in Toronto today (the " Meeting"), as disclosed in the management information circular dated March 28, 2025. Detailed results of the vote by proxy for the election of directors are set out below. The Company has provided more details on the results of all matters considered at the Meeting in its Report of Voting Results which has been filed under its profile on SEDAR+ at and on EDGAR at About Denison Denison Mines Corp. was formed under the laws of Ontario and is a reporting issuer in all Canadian provinces and territories. Denison's common shares are listed on the Toronto Stock Exchange (the 'TSX') under the symbol 'DML' and on the NYSE American exchange under the symbol 'DNN'. 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 Midwest Main and Midwest A deposits, and a 70.55% 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. 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. Technical Disclosure and Qualified Person The technical information contained in this press release has been reviewed and approved by Chad Sorba, Denison's Vice President Technical Services & Project Evaluation, who is a Qualified Persons in accordance with the requirements of NI 43-101. 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 following: projections with respect to exploration, development and expansion plans and objectives, including the scope, objectives and interpretations of the FS, PFS and the Wheeler River technical de-risking process for the proposed ISR operation for the Phoenix deposit; expectations with respect to the EA, EIS and Licensing and permitting for proposed operations at Wheeler River, including the Hearing; expectations with respect to mine development and operations on the Wheeler River property, including discussions of an FID and timing for construction and achievement of first production; anticipated benefits of the transactions with Foremost and Cosa; expectations regarding the restart of mining operations at McClean Lake; expectations regarding the performance of the uranium market and global sentiment regarding nuclear energy; and expectations regarding Denison's joint venture ownership interests. 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 and underlying assumptions and interpretations of the FS and PFS may not be maintained after further testing or be representative of actual conditions within the applicable deposits. In addition, Denison may decide or otherwise be required to discontinue testing, evaluation, engineering, and 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 Annual Information Form dated March 25, 2025 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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13-05-2025
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Denison Reports Financial and Operational Results for Q1 2025, Highlighted by Continued Advancement of the Phoenix Project, and the Results of its Shareholder Meeting
TORONTO, May 12, 2025 /CNW/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended March 31, 2025. Both documents will be available on the Company's website (at SEDAR+ (at and EDGAR (at The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. View PDF Version David Cates, President and CEO of Denison commented, "With the Canadian Nuclear Safety Commission ('CNSC') announcing in Q1'2025 the scheduling of a public hearing ('Hearing') for our flagship Phoenix In-Situ Recovery ('ISR') project in late 2025, our focus for the remainder of the year has shifted to completion of the detailed design engineering phase and advancement of construction planning and procurement efforts. Our plans are designed to put us in a position to start construction in early 2026, following anticipated regulatory approvals. Based on this timeline, we expect to be able to maintain our previous guidance of first production from Phoenix by mid-2028, which would make Phoenix the first new large-scale uranium mine in northern Saskatchewan since the Cigar Lake mine was commissioned in 2014. By the end of Q1'2025, we have achieved approximately 75% completion of total engineering for Phoenix, and we have already funded over $7 million and committed a further $67 million for long-lead capital purchases. With 2.2 million pounds U3O8 in physical uranium holdings on hand, a strong cash balance, and no debt, Denison remains in an enviable financial position – able to fund both (i) our pre-Final Investment Decision ('FID') investments in Phoenix and (ii) important potential future growth initiatives. At our McClean Lake Joint Venture ('MLJV') with Orano Canada, we are expecting 2025 to be a notable year with the commencement of mining at the McClean North deposit using the MLJV's patented Surface Access Borehole Resource Extraction ('SABRE') mining method. Thus far this year, site preparation activities have recommenced and we are expecting mining to commence in the coming months. In addition to our planned investments in the Company's project development portfolio, we are working to amplify our exposure to exploration discovery. With that objective we entered into agreements with Cosa Resources Corp. ('Cosa') (TSX-V: COSA) in Q1'2025 and Foremost Clean Energy ('Foremost') (NASDAQ:FMST) (CSE:FAT) in Q4'2024, both of which involve collaborating on the exploration of several of Denison's non-core properties. Initial exploration results from this strategy are encouraging – as Cosa has already identified a two-kilometre strike extension of the Hurricane Trend through its initial drilling program at the Murphy Lake North uranium property, and Foremost has reported a new discovery of uranium mineralization at the Hatchet Lake uranium property. At the corporate level, during the quarter, we welcomed Ken Hartwick, who previously served as the CEO of Ontario Power Generation, and Jinsu Baik, KHNP Canada Energy Ltd.'s nominee, to the Denison board of directors. We believe Ken and Jinsu will bolster the breadth of nuclear industry and commercial knowledge on our Board and enhance its oversight during the critical process of Phoenix project execution and marketing of our future uranium production. We are also pleased to welcome Wes Carson, Vice President, Mining Operations at Wheaton Precious Metals Corp., to the Denison board today, after his election at Denison's annual and special shareholders meeting. Wes enhances the depth of technical expertise on our Board, as he brings a wealth of mining industry experience and best practices, having held a variety of leadership roles in operations, project development, and engineering." Highlights Regulatory Approval Hearing Dates set for the Phoenix ISR Project Supporting Guidance for First Production by First Half of 2028 The Canadian Nuclear Safety Commission ('CNSC') Registrar announced the schedule for the CNSC public hearing (the 'Hearing') for the Wheeler River Uranium Project ('Wheeler River'). 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 Wheeler River Project's ('Project') Environmental Assessment ('EA') and the Licence to Prepare and Construct a Uranium Mine and Mill ('Licence'). The Hearing dates are expected to support commencement of construction in early 2026 and first production in the first half of 2028, consistent with past guidance. 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. Achieved 75% Completion of Total Engineering for Phoenix In January 2024, Denison awarded a contract to Wood Canada Limited ('Wood'), for the completion of a significant portion of the detailed design engineering for the Phoenix ISR project. The work commenced in the first quarter of 2024 and is expected to be substantially completed in the third quarter of 2025. Phoenix detailed design engineering activities are an important element of the Company's continued efforts on advancing Phoenix towards a final investment decision ('FID'), in support of its objective to achieve first production by the first half of 2028. Total engineering completion at end of the first quarter of 2025 was approximately 75%, supported by finalization of process design, piping and instrumentation diagrams ('P&ID's'), hazard and operability studies ('HAZOPs'), selection of major process equipment, electrical distribution infrastructure and substantially complete on civil engineering design. The completion of the detailed design engineering has been scheduled to ensure Denison is ready to commence project construction upon receipt of regulatory approval. McClean Lake Joint Venture Advances Site Preparation Activities for Planned 2025 SABRE Mining Program Site preparation activities have recommenced at McClean North in preparation for the 2025 SABRE mining program. Site development is on track to support the commencement of mining activities in mid-2025. Appointment of New Board Members In March 2025, Denison announced the appointment of Ken Hartwick, who previously served as the CEO of Ontario Power Generation ('OPG'). Mr. Hartwick's appointment comes following the retirement from the Board of Brian Edgar, after having served as a Director of Denison and its predecessors for over 20 years. Denison also reported the appointment of Mr. Jinsu Baik to the Board, replacing Mr. Jong Ho Hong as KHNP Canada Energy Ltd.'s ('KHNP Canada') nominated director to the Board. Additionally, Mr. Wes Carson, Vice President, Mining Operations at Wheaton Precious Metals Corp., was appointed to the Board at the Corporation's annual and special shareholder meeting held on May 12, 2025. Formation of Exploration Joint Ventures with Cosa Resources Corp. In January 2025, Denison completed an acquisition agreement with Cosa Resources Corp. ('Cosa') for Cosa to acquire a 70% interest in three of Denison's properties in the eastern portion of the Athabasca Basin region in northern Saskatchewan in exchange for approximately 14.2 million Cosa common shares, $2.25M in deferred equity consideration, and a commitment to spend $6.5 million in exploration expenditures on the properties. Upon the close of the transaction, Denison became Cosa's largest shareholder (representing ~19.95% ownership interest in Cosa at that time) and Denison and Cosa formed three uranium exploration joint ventures. 2025 Annual & Special Shareholders Meeting Denison is also pleased to report the passing of all items of business presented to shareholders at the Company's annual and special shareholders meeting held in Toronto today (the "Meeting"), as disclosed in the management information circular dated March 28, 2025. Detailed results of the vote by proxy for the election of directors are set out below. Nominee Votes For % For Votes Withheld % Withheld Jennifer Traub 367,438,770 94.99 % 19,399,921 5.01 % David Cates 366,920,809 94.85 % 19,917,881 5.15 % Jinsu Baik 384,502,960 99.40 % 2,335,731 0.60 % Wes Carson 366,457,344 94.73 % 20,381,346 5.27 % Ken Hartwick 384,596,396 99.42 % 2,242,294 0.58 % David Neuburger 379,319,168 98.06 % 7,519,522 1.94 % Laurie Sterritt 378,238,679 97.78 % 8,600,011 2.22 % Patricia Volker 379,592,941 98.13 % 7,245,749 1.87 % The Company has provided more details on the results of all matters considered at the Meeting in its Report of Voting Results which has been filed under its profile on SEDAR+ at and on EDGAR at About Denison Denison Mines Corp. was formed under the laws of Ontario and is a reporting issuer in all Canadian provinces and territories. Denison's common shares are listed on the Toronto Stock Exchange (the 'TSX') under the symbol 'DML' and on the NYSE American exchange under the symbol 'DNN'. 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 Midwest Main and Midwest A deposits, and a 70.55% 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. 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. Technical Disclosure and Qualified Person The technical information contained in this press release has been reviewed and approved by Chad Sorba, Denison's Vice President Technical Services & Project Evaluation, who is a Qualified Persons in accordance with the requirements of NI 43-101. 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 following: projections with respect to exploration, development and expansion plans and objectives, including the scope, objectives and interpretations of the FS, PFS and the Wheeler River technical de-risking process for the proposed ISR operation for the Phoenix deposit; expectations with respect to the EA, EIS and Licensing and permitting for proposed operations at Wheeler River, including the Hearing; expectations with respect to mine development and operations on the Wheeler River property, including discussions of an FID and timing for construction and achievement of first production; anticipated benefits of the transactions with Foremost and Cosa; expectations regarding the restart of mining operations at McClean Lake; expectations regarding the performance of the uranium market and global sentiment regarding nuclear energy; and expectations regarding Denison's joint venture ownership interests. 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 and underlying assumptions and interpretations of the FS and PFS may not be maintained after further testing or be representative of actual conditions within the applicable deposits. In addition, Denison may decide or otherwise be required to discontinue testing, evaluation, engineering, and 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 Annual Information Form dated March 25, 2025 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. View original content to download multimedia: SOURCE Denison Mines Corp. View original content to download multimedia:
