Denison Mines Announces $13 Million Bought Deal Offering of Flow-Through Common Shares

TORONTO, ONTARIO--(Marketwired - July 24, 2014) -

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Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE MKT:DNN) is pleased to announce that it has entered into an agreement with Dundee Securities Ltd. on behalf of a syndicate including Paradigm Capital Inc., Raymond James Ltd., Scotiabank, BMO Capital Markets and Cormark Securities Inc. (together, the "Underwriters") under which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 8,050,000 flow-through common shares of the Company (the "Flow-Through Shares") at a price of C$1.62 per Flow-Through Share for total gross proceeds of C$13,041,000 (the "Offering"). The Underwriters have been granted the option to purchase up to an additional 15% of the number of Flow-Through Shares issuable in the Offering, exercisable in whole or in part at any time up to 48 hours prior to the closing of Offering. The Underwriters will seek to arrange for substituted purchasers for the Flow-Through Shares in one or more provinces of Canada.

The closing of the Offering is expected to occur on or about August 12, 2014 and is subject to the completion of formal documentation and receipt of regulatory approvals, including the approval of the Toronto Stock Exchange and the NYSE MKT LLC.

The Company intends to use the gross proceeds of the Offering for "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) related to the Company's Canadian uranium mining exploration projects. The Company will agree to renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2014.

About Denison

Denison is a uranium exploration and development company with interests in exploration and development projects in Canada, Zambia, Mali, Namibia, and Mongolia. Including the high grade Phoenix deposits, located on its 60% owned Wheeler project, Denison's exploration project portfolio includes 42 projects and totals approximately 483,000 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, plus a 25.17% interest in the Midwest deposit and a 60% interest in the J-Zone deposit on the Waterbury property. Both the Midwest and J Zone deposits are located within 20 kilometres of the McClean Lake mill. Internationally, Denison owns 100% of the conventional heap leach Mutanga project in Zambia, 100% of the uranium/copper/silver Falea project in Mali, a 90% interest in the Dome project in Namibia, and an 85% interest in the in-situ recovery projects held by the Gurvan Saihan joint venture in Mongolia.