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TORONTO, ONTARIO -- (Marketwire) -- 03/07/13 -- Denison Mines Corp. ("Denison" or the "Company") (TSX: DML)(NYSE MKT: DNN) today reported its results for the three months and year ended December 31, 2012. All amounts in this release are in U.S. dollars unless otherwise stated.

2012 Highlights

--  Completed the sale of the Company's subsidiaries holding all of its    mining assets and operations located in the United States (the "U.S.    Mining Division") to Energy Fuels Inc. ("EFR"). In exchange,    consideration equal to 425.4 million common shares of EFR was received    and distributed to Denison shareholders.--  Completed a new mineral resource estimate, in accordance with National    Instrument 43-101 ("NI 43-101"), for the Company's Phoenix A and B    deposits. The result is a 47% increase in indicated pounds of U3O8 and a    100% increase in inferred pounds of U3O8 over the previous mineral    resource estimate from 2010.--  Obtained approval for amendments to the operating licence for the    McClean Lake mill, permitting an increase in the annual production from    8.0 million pounds U3O8 to 13.0 million pounds U3O8. Approval was also    obtained for the Environmental Assessment prepared by the Midwest joint    venture.--  Completed a new mineral resource estimate, in accordance with NI 43-101,    for the Company's Mutanga project in Zambia. The result is the addition    of inferred resources, from the Dibwe East deposit, estimated to be 28.2    million pounds U3O8, from 39.8 million tonnes grading 322 parts per    million ("ppm") eU3O8, at a cut-off grade of 100 ppm eU3O8.--  Entered into an agreement to acquire all the outstanding common shares    of JNR Resources Inc. ("JNR") in exchange for common shares of the    Company at an exchange ratio of 0.073. This transaction was completed on    January 31, 2013.--  Acquired 3.6 million common shares and 1.8 million common share purchase    warrants of International Enexco Ltd. ("Enexco"), in support of Enexco's    exploration activities on the Mann Lake project in Saskatchewan.--  Completed a CAD$7.0 million offering of flow-through common shares at a    price of CAD$1.69 per share.

Financial Results

The Company recorded a net loss from continuing operations of $4,601,000 ($0.01 per share) and $25,455,000 ($0.07 per share) for the three months and year ended December 31, 2012 compared with a net loss of $16,039,000 ($0.04 per share) and $24,552,000 ($0.07 per share) for the three months and year ended December 31, 2011. The net loss from discontinued operations was $92,493,000 ($0.24 per share) for the year ended December 31, 2012 compared to a net loss of $46,317,000 ($0.12 per share) for the year ended December 31, 2011.

The results of the discontinued operations include a charge of $97,944,000 for the year ended December 31, 2012 related to an impairment of the U.S. Mining Division. The impairment was recorded as a result of the transaction with EFR, which closed on June 29, 2012.

--------------------------------------------------------------------------------------------------------------------------------------------------------                     Three Months  Three Months(in thousands,              Ended         Ended    Year Ended    Year Ended except per share    December 31,  December 31,  December 31,  December 31, amounts)                    2012          2011          2012          2011----------------------------------------------------------------------------Results of Operations:  Total revenues         $  2,596      $  4,432      $ 11,127      $ 25,796  Net income (loss)   from continuing   operations              (4,601)      (16,039)      (25,455)      (24,552)  Net income (loss)   from discontinued   operations                 155       (49,498)      (92,493)      (46,317)  Basic and diluted   earnings (loss)   per share from   continuing   operations               (0.01)        (0.04)        (0.07)        (0.07)  Basic and diluted   earnings (loss)   per share from   discontinued   operations                   -         (0.13)        (0.24)        (0.12)----------------------------------------------------------------------------                                                        As at         As at                                                 December 31,  December 31,(in thousands)                                           2012          2011----------------------------------------------------------------------------Financial Position:  Cash and cash   equivalents                                       $ 38,188      $ 53,515  Working capital                                      35,298        93,516  Long-term   investments                                          2,843           522  Property, plant   and equipment                                      247,888       367,370  Total assets                                        300,356       504,486  Total long-term   liabilities                                       $ 28,824      $ 38,391--------------------------------------------------------------------------------------------------------------------------------------------------------