TORONTO, ONTARIO -- (Marketwire) -- 03/14/13 -- Denison Mines Corp. (TSX: DML)(NYSE MKT: DNN)(NYSE Amex: DNN) ("Denison" or the "Company") is pleased to provide an update on uranium exploration activities at several properties in the Athabasca Basin in northern Saskatchewan. Highlights of the program include new mineralization intersected north of the Phoenix deposits at Wheeler River and high grade mineralization intersected in infill drill holes.
Wheeler River
A program of both infill and exploration drilling is well underway with two drills at Wheeler River. Eighteen of 28 planned drill holes have been completed. One of the first exploration drill holes of the program, drill hole WR-489, located approximately 2.1 kilometres northeast of the Phoenix deposits intersected uranium mineralization in faulted graphitic pelitic gneiss immediately below the sub-Athabasca unconformity at a vertical depth of 380 meters below surface. From down-hole total gamma probe results, the mineralization averages 0.13% eU3O8 over 4.6 meters. True thickness is not known. Intense clay and hematite alteration surrounding the mineralization is similar to that found proximal to the Phoenix deposits. Follow up drilling is underway.
Additionally, four infill drill holes have been completed in the Phoenix A deposit. The drill holes are designed to increase the confidence in two portions of the deposit that were classified as inferred during the recently completed mineral resource update. All four drill holes intersected high grade uranium mineralization. Intersections in the four holes are listed in the table below.
Phoenix A Deposit Infill Drilling ResultsHole-ID From (m) To (m) Length (m) eU3O8(1)(%)------------------------------------------------------------WR-496 410.4 413.9 3.5 36.3WR-498 405.4 408.5 3.1 24.1WR-499 407.5 410.1 2.6 14.8WR-501 406.0 409.0 3.0 13.5 and 411.0 412.0 1.0 3.0------------------------------------------------------------Notes: 1. eU3O8 is radiometric equivalent uranium from a total gamma down-hole probe 2. Intersection intervals are composited above a cut-off grade of 1% eU3O8
As mineralization in the Phoenix deposit is sub-horizontal and the drill holes in Table 1 are vertical, the true thickness is expected to be approximately equal to the intersection length. The Wheeler River property lies between the McArthur River mine and Key Lake mill complex in the Athabasca Basin in northern Saskatchewan. Denison is the operator and holds a 60% interest in the project. Cameco Corporation holds a 30% interest and JCU (Canada) Exploration Company, Limited holds the remaining 10% interest.
Hatchet Lake
A 2,370 metre drilling program has been completed on the Hatchet Lake property in the northern part of the eastern Athabasca Basin. Hatchet Lake is 50% owned and operated by Denison and 50% owned by Anthem Resources Inc. A total of 13 drill holes, including one re-start, were completed during the program - two more than originally planned due to the intersection of uranium mineralization at the unconformity in two drill holes on the Crooked-Richardson Lakes trend. The best result was in drill hole RL-13-16, which intersected 0.20% eU3O8 over 1.9 metres beginning at 124.5 metres down the drill hole.
