Denison Announces Appointment of Former OPG CEO Ken Hartwick to its Board of Directors
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Denison Mines Corp.
1100 – 40 University Ave
Toronto, ON M5J 1T1
www.denisonmines.com
PRESS RELEASE
Denison Announces Appointment of
Former OPG CEO Ken Hartwick to its Board of Directors
Toronto, ON – March 20, 2025. Denison Mines Corp. (“Denison” or the “Company”) (TSX: DML, NYSE
American: DNN) is pleased to announce the appointment of Ken Hartwick, who previously served as the
CEO of Ontario Power Generation (‘OPG’), to its B oard of Directors (the ‘Boar d’). Mr. Hartwick’s
appointment comes following the retirement of Brian E dgar from the Board, after having served as a
Director of Denison and its predecessors for over 20 years. Additionally, Denison reports the appointment
of Mr. Jinsu Baik to the Board, replacing Mr. J ong Ho Hong as Korea Hydro Nuclear Power’s (‘KHNP’)
nominated appointee to the Board.
Jennifer Traub, Chair of the Board, commented, “We are very pleased to welcome Ken Hartwick and
Jinsu Baik to the Board. Both bring unique sk ills and extensive experience from holding senior
roles at globally recognized utilities that are lead ers in nuclear power generation. We expect Mr.
Hartwick and Mr. Baik to bolster the breadth of nuclear industry and commercial knowledge on our
Board and enhance the Board’s oversight during the critical process of Phoenix project execution
and marketing of future uranium production.
On behalf of the Board, I also express our sin cere gratitude to Brian Edgar for his many years of
service and the extensive support he has always provided to the Board and to Denison, having
made countless contributions to the strategic direction and governance of the Company, including
in his recently held roles as Denison’s Lead Director, Chair of the Corporate Governance &
Nominating Committee, and member of the Audit Committee.”
Mr. Ken Hartwick
Mr. Hartwick joined the Board effective March 19, 2025. Mr. Hartwick has over 40 years of experience in
a variety of fields such as fi nance, investment, corporate leaders hip and governance, risk management,
and stakeholder engagement, with 35 years in the finance and energy sectors.
In 2024, Mr. Hartwick retired from the position of President and CEO of OPG, one of North America’s largest
and most diverse electricity generators, which is also recognized as a clean energy technology innovator.
Under Mr. Hartwick’s tenure at OPG, spanning nearly 9 years, OPG released its first Climate Change Plan,
advanced Ontario’s electrification efforts through the development of the Ivy charging network and OPG’s
PowerON fleet electrification subsidiary, launched its first Reconciliation Action Plan, and took a global
leadership position in the deployment of Small Modular Reactors (‘SMRs’) with the advancement of plans
to deploy four SMRs at OPG’s Darlington site. Mr. Hartwick is a Chartered Prof essional Accountant with
an Honours Bachelor of Business Administration degree from Trent University.
Mr. Jinsu Baik
Mr. Baik joined the Board effective March 13, 2025, having replaced KHNP’s previous board nominee Mr.
Hong. Mr. Baik is currently General Manager of t he Nuclear Fuel Cyle Management Section of KHNP,
which is the national hydro and nuclear power utility in South Korea. Mr. Baik has substantial professional
expertise developed through working in the nuclear industry and has held vari ous positions at KHNP,
including his prior positions as General Manager in the Safety Engineering Section and Senior Manager in
the Nuclear Fuel Supply Section. Mr. Baik holds a degree in Nuclear Engineering from HanYang University.
Denison and KHNP Canada Energy Ltd. (‘KHNP Canada’) (which is a subsidiary of KHNP) are parties to a
Strategic Relationship Agreement, which provides fo r a long-term collaborative business relationship
between the parties and includes a right of KHNP Canada to nominat e one representative to the Board
provided it holds at least 5% of Denison’s shares (currently holding ~6.5%).
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About Denison
Denison is a leading uranium mining, development, and exploration company with interests focused in the Athabasca
Basin region of northern Saskatchewan, Canada. Denison has an effective 95% interest in its flagship Wheeler River
Uranium Project, which is the largest undeveloped uranium proj ect in the infrastructure rich eastern portion of the
Athabasca Basin region of northern Saskatchewan. In mid-2 023, 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
('PFS') 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 plan ned Phoenix ISR operation commenced in 2019 and several
notable milestones were achieved in 2024 with the submissi on of federal licensing documents and the acceptance of
the final form of the project’s Environmental Impact Stat ement by the Province of Saskatchewan and the Canadian
Nuclear Safety Commission.
Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake Joint Venture
('MLJV'), which includes unmined uranium deposits (pla nned 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
Midwest Main and Midwest A deposits, and a 70.32% 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, Denison 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
interests in various uranium project joint ventures in Ca nada, including the Millennium project (JCU, 30.099%), the
Kiggavik project (JCU, 33.8118) and Christie Lake (JCU, 34.4508%).
In 2024, Denison celebrated 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
Geoff Smith (416) 979-1991 ext. 358
Vice President Corporate Development & Commercial
Follow Denison on Twitter @DenisonMinesCo
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this pre ss release constitutes ‘forward-looking info rmation’, within the meaning of the applic able
United States and Canadian legislation conc erning the business, operations and financ ial performance and condition of Denison.
Generally, these forward-looking statements c an be identified by the use of forward-look ing 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 press release contains forward-looking information pert aining to the following: Denison ’s
development plans for Wheeler River and the proposed ISR operation for the P hoenix deposit; expectations regarding Denison’s
commercial activities; expectations regarding Denison’s joint venture ownership interests; and expectations regarding the objec tives
and 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 c ause the actual results, level of activi ty,
performance or achievements of Denison to be materially different from those expre ssed or implied by such forward-looking
statements. For example, the results of the Hearing may not be as anticipated. In addition, Deni son may decide or otherwise be
required to discontinue development work if it is unable to maintain or otherwise secu re the necessary approvals or resources (such
as testing facilities, capital funding, etc.). Denison believes that the expectations reflected in this forward-looking inform ation are
reasonable, but no assurance can be given that these expectations will prove to be accu rate and results may differ materially f rom
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 the Company’s Management’s Discussion & Analysis for the year ended
December 31, 2024 under the heading ‘Risk Factors’. These factors are not, and should not be, construed as being exhaustive.
Accordingly, readers should not place undue re liance on forward-looking statements. The forward-looking information contained i n
this press 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 press release. Denison does not undertake any obligation to publicly update or revise
any forward-looking information after the date of this press rel ease to conform such information to actual results or to change s in
Denison's expectations except as otherwise required by applicable legislation.