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News Breaks
January 16, 2013
08:26 EDTDNN, FSSIFDenison Mines to acquire Fission Energy, spin out Patterson Lake
Denison Mines (DNN) announced the signing of a Binding Letter of Intent pursuant to which Denison will acquire a portfolio of uranium exploration projects from Fission Energy Corp. (FSSIF) including Fission's 60% interest in the Waterbury Lake uranium project, as well as Fission's exploration interests in all other properties in the eastern part of the Athabasca Basin, its interests in two joint ventures in Namibia plus its assets in Quebec and Nunavut. Under the terms of the Binding LOI, Denison has agreed to offer shareholders of Fission 0.355 shares of Denison for each share of Fission held, conditional upon, among other things, certain assets of Fission being spun out to a new company to be held pro rata by current Fission shareholders. NewCo assets will include, among others, a 50% interest in the Patterson Lake South property located in the western Athabasca Basin. The Transaction values the Assets at approximately $70M based on the closing price of Denison as of January 15. Upon completion of the Transaction, shareholders of Fission will own approximately 11% of Denison.
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July 29, 2014
09:33 EDTDNNDenison Mines reports initial summer drilling results from Gryphon zone
Denison Mines reports initial results from the 2014 summer drilling program at the Gryphon zone on the Wheeler River property in the Athabasca Basin of Saskatchewan. Ten of a planned 20 drill holes have been completed to date, including the extension of two historic drill holes. The extension drill holes ZK-04EXT and ZK-06EXT, along with WR-565, have tested geological targets up dip of the main mineralized zones on the original discovery section. The other seven holes are systematic 50 metre step-outs down dip and along strike of the previously reported mineralization in WR-556 and WR-560. The highlight from the summer program so far is drill hole WR-569A which intersected a wide zone of alteration and mineralization with several high grade intervals, including 9.41% eU3O8 over 3.7 metres and 5.27% eU3O8 over 5.9 metres. WR-569A is located 40 metres along strike southwest and 40 metres up dip of drill hole WR-556 which intersected 15.3% U3O8 over 4.0 metres and was the Gryphon zone discovery drill hole.

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