a2024agmpressreleasev2
Exhibit 99.1
|
Denison Mines
Corp.
1100 – 40
University Ave
Toronto, ON M5J
1T1
www.denisonmines.com
|
PRESS RELEASE
Denison Announces Results of Shareholder Meeting
& Appointment of Jennifer Traub as Board Chair
Toronto, ON – May 9,
2024. Denison Mines Corp. (‘Denison’ or the
‘Company’) (TSX: DML, NYSE American: DNN) is pleased to
report that the nominees listed in the management proxy circular
dated March 28, 2024 (the “Circular”) for the Annual
General Meeting of Shareholders held in Toronto today (the
“Meeting”)
were elected as directors of the Company.
David Cates,
Director, President and CEO of Denison commented, “The Board and
management of Denison extend their sincere gratitude to Mr. Ron
Hochstein, who did not stand for re-election at the Meeting, for
nearly 25-years of service on the Board since his appointment in
2000. As Director, Board Chair, and the Company’s previous
CEO, Ron made countless invaluable contributions to the strategic
direction of the Company and development of several members of the
management team. Under Ron’s oversight as Board Chair,
Denison has emerged from an extended period of challenging uranium
markets with an incredibly exciting Saskatchewan-based project
portfolio and a team motivated to deliver on the development of the
Company’s flagship Phoenix deposit. Ron continues to have a
significant ownership position in the Company and has graciously
agreed to serve the Company as an advisor to the Board in support
of our efforts to develop Phoenix.
On behalf of the Board, I’m also pleased to announce the
appointment of Ms. Jennifer Traub as the Company’s new Board
Chair. Jennifer is a partner in the Securities Group, and Co-Chair
of the Mining Group, at Cassels Brock & Blackwell LLP and has
been recognized as a legal leader in the Canadian resource sector.
Jennifer joined the Denison Board in 2021, contributing her dynamic
advisory and leadership experience to Denison’s governance,
and the Board and management are pleased she has agreed to this
expanded role.”
All other items
of business presented to its shareholders at the Meeting, as more
particularly described in the Circular, were approved. Detailed
results of the vote by proxy for the election of directors are set
out below.
Nominee
|
Votes For
|
% For
|
Votes Withheld
|
% Withheld
|
David
Cates
|
384,833,396
|
99.58%
|
1,619,036
|
0.42%
|
Brian
Edgar
|
383,841,473
|
99.32%
|
2,610,960
|
0.68%
|
Jong Ho
Hong
|
385,348,852
|
99.71%
|
1,103,581
|
0.29%
|
David
Neuburger
|
382,086,817
|
98.87%
|
4,365,616
|
1.13%
|
Laurie
Sterritt
|
381,856,131
|
98.81%
|
4,596,301
|
1.19%
|
Jennifer
Traub
|
371,577,666
|
96.15%
|
14,874,765
|
3.85%
|
Patricia
Volker
|
381,607,250
|
98.75%
|
4,845,181
|
1.25%
|
The Company has
provided more details on the results of all matters considered at
the Meeting in its Report of Voting Results which has been filed
under its profile on SEDAR+ at www.sedarplus.ca and on EDGAR at
www.sec.gov/edgar.
About Denison
Denison Mines
Corp. was formed under the laws of Ontario and is a reporting
issuer in all Canadian provinces and territories. Denison’s
common shares are listed on the Toronto Stock Exchange (the
‘TSX’) under the symbol ‘DML’ and on the
NYSE American exchange under the symbol
‘DNN’.
Denison is a
uranium mining, exploration and development company with interests
focused in the Athabasca Basin region of northern Saskatchewan,
Canada. The Company has an effective 95% interest in its flagship
Wheeler River Uranium Project, which is the largest undeveloped
uranium project in the infrastructure rich eastern portion of the
Athabasca Basin region of northern Saskatchewan. In mid-2023, the
Phoenix Feasibility Study was completed for the Phoenix deposit as
an ISR mining operation, and an update to the previously prepared
2018 Pre-Feasibility Study was completed for Wheeler River’s
Gryphon deposit as a conventional underground mining operation.
Based on the respective studies, both deposits have the potential
to be competitive with the lowest cost uranium mining operations in
the world. Permitting efforts for the planned Phoenix ISR operation
commenced in 2019 and have advanced significantly, with licensing
in progress and a draft Environmental Impact Study submitted for
regulatory and public review in October 2022.
Denison’s
interests in Saskatchewan also include a 22.5% ownership interest
in the McClean Lake Joint Venture (‘MLJV’), which
includes unmined uranium deposits (planned for extraction via the
MLJV’s SABRE mining method starting in 2025) and the McClean
Lake uranium mill (currently utilizing a portion of its licensed
capacity to process the ore from the Cigar Lake mine under a toll
milling agreement), plus a 25.17% interest in the Midwest Joint
Venture’s Midwest Main and Midwest A deposits, and a 69.35%
interest in the Tthe Heldeth Túé (‘THT’) and
Huskie deposits on the Waterbury Lake Property. The Midwest Main,
Midwest A, THT and Huskie deposits are located within 20 kilometres
of the McClean Lake mill. Taken together, the Company has direct
ownership interests in properties covering ~384,000 hectares in the
Athabasca Basin region.
Additionally,
through its 50% ownership of JCU (Canada) Exploration Company,
Limited (‘JCU’), Denison holds additional interests in
various uranium project joint ventures in Canada, including the
Millennium project (JCU, 30.099%), the Kiggavik project (JCU,
33.8118%) and Christie Lake (JCU, 34.4508%).
In 2024, Denison
is celebrating its 70th year in uranium
mining, exploration, and development, which began in 1954 with
Denison’s first acquisition of mining claims in the Elliot
Lake region of northern Ontario.
For more information, please contact
David Cates
|
(416) 979-1991 ext.
362
|
President and Chief Executive
Officer
|
|
|
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Geoff Smith
|
(416) 979-1991 ext.
358
|
Vice President Corporate
Development & Commercial
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Follow Denison on X (formerly
Twitter)
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@DenisonMinesCo
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
Certain
information contained in this news release constitutes
‘forward-looking information’, within the meaning of
the applicable United States and 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’, ‘budget’,
‘scheduled’, ‘estimates’,
‘forecasts’, ‘intends’,
‘anticipates’, or ‘believes’, or the
negatives and/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’. In
particular, this news release contains forward-looking information
pertaining to the following: Denison’s expectations with
respect to the Wheeler River project; the composition of the
Denison Board; expectations regarding Denison’s joint venture
ownership interests and the continuity of its agreements with third
parties.
Forward looking
statements are based on the opinions and estimates of management as
of the date such statements are made, and they are subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
of Denison to be materially different from those expressed or
implied by such forward-looking statements. Denison believes that
the expectations reflected in this forward-looking information are
reasonable but no assurance can be given that these expectations
will prove to be accurate and results may differ materially from
those anticipated in this forward looking information. For a
discussion in respect of risks and other factors that could
influence forward-looking events, please refer to the factors
discussed in Denison’s Annual Information Form dated March
28, 2024 under the heading ‘Risk Factors’. These
factors are not, and should not be construed as being,
exhaustive.
Accordingly,
readers should not place undue reliance on forward-looking
statements. The forward-looking information contained in this news
release is expressly qualified by this cautionary statement. Any
forward-looking information and the assumptions made with respect
thereto speaks only as of the date of this news release. Denison
does not undertake any obligation to publicly update or revise any
forward-looking information after the date of this news release to
conform such information to actual results or to changes in
Denison's expectations except as otherwise required by applicable
legislation.