Denison Announces 21.2% U3O8 Over 4.5 Metres From the Gryphon Zone at Wheeler River

TORONTO, ONTARIO--(Marketwired - June 3, 2014) - Denison Mines Corp. (TSX:DML)(NYSE MKT:DNN) ("Denison" or the "Company") is pleased to report the receipt of assay results from the 2014 winter drilling at the Gryphon zone on the Wheeler River property in Saskatchewan and outlines the summer exploration plans.

Gryphon Zone

The Gryphon zone of high grade, basement hosted uranium mineralization was discovered at Wheeler River this winter with drill hole WR-556 intersecting 4.0 metres grading 15.3% U₃O₈. Only one follow-up hole (WR-560) was drilled, and it also intersected high grade uranium returning 21.2% U₃O₈ over 4.5 metres. WR-560 was drilled 40 metres up-dip of WR-556 on the same section. Down hole gamma probe results for both holes were previously released and assay results have now been received. Figure 1 (http://media3.marketwire.com/docs/949863_MAP.pdf) shows the location of the Gryphon zone, three kilometres northwest of the Phoenix uranium deposit. Figure 2 is a cross section through Gryphon. The table below compares the probe and assay grades at a cut-off grade of 1.0% U₃O₈.

Gryphon Zone Intersections

	Down Hole Probe				Assay
Hole Number	From	To	Length	% eU3O8(1)	From	To	Length	% U3O8
WR-556	696.1	700.7	4.6	9.7	697.5	701.5	4.0	15.3
WR-560	757.9	762.1	4.2	17.3	759.0	763.5	4.5	21.2

Note:	1.	eU3O8 is radiometric equivalent uranium from a total gamma down-hole probe.
	2.	Cut-off grade is 1.0% U3O8.

Mineralization at the Gryphon zone is approximately 200 metres beneath the sub-Athabasca unconformity and is open in both strike directions and at depth. As WR-560 is a steeply plunging drill hole and the mineralization is interpreted to dip moderately, the true thickness is expected to be approximately 75% of the intersection length.