Drilling is also underway at a third Denison operated property, Moore Lake (100% Denison), where a total of 12 holes have been completed on two target areas. While no significant mineralization has been intersected to date, several target areas require further exploration and Moore Lake remains a high priority property. Additionally, drilling programs are being completed this winter on two Denison joint venture properties operated by AREVA Resources Canada Inc. (ARC) at Wolly and McLean Lake. No significant mineralization has been intersected on these properties to date. The Wolly project is owned and operated 62.9% by ARC, 22.5% Denison and 14.6% by JCU (Canada) Exploration Company Limited. The McClean Lake project is owned and operated 70% by ARC, 22.5% Denison and 7.5% OURD Canada, Ltd. Linecutting and ground geophysical surveying is also underway on a total of five properties.
The disclosure of a scientific or technical nature contained in this news release was prepared by Steve Blower P.Geo., Denison's Vice President, Exploration, who is a Qualified Person in accordance with the requirements of NI 43-101. For a description of the quality assurance program and quality control measures applied by Denison, please see Denison's Annual Information Form dated March 28, 2012 filed under the Company's profile on SEDAR at www.sedar.com.
Denison Mines Corp. is a uranium exploration and development company with interests in exploration and development projects in Canada, Zambia and Mongolia. Including the world class Phoenix deposits, located on its 60% owned Wheeler River project, Denison's exploration project portfolio includes 32 projects and totals over 530,000 hectares in the Eastern Athabasca Basin region of Saskatchewan. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake Joint Venture, which includes several uranium deposits and the McClean Lake uranium mill, one of the world's largest uranium processing facilities, and a 25.17% interest in the Midwest deposit, which is located 15 kilometres from the McClean Lake mill. Internationally, Denison owns 100% of the conventional heap leach Mutanga project, in Zambia, and an 85% interest in the in-situ recovery projects held by the Gurvan Saihan Joint Venture, in Mongolia.
Denison is engaged in mine decommissioning and environmental services through its Denison Environmental Services (DES) division and is the manager of Uranium Participation Corporation (TSX: U), a publicly traded company which invests in uranium oxide in concentrates and uranium hexafluoride.
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" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", 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".
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