Denison Announces CAD$4.1 Million Bought Deal Private Placement of Flow-Through Shares
Denison Mines Corp.
1100 – 40 University Ave
Toronto, ON M5J 1T1
www.denisonmines.com
@DenisonMinesCo
PRESS RELEASE
DENISON ANNOUNCES CAD$4.1 MILLION BOUGHT DEAL
PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, ON – November 18, 2019. Denison Mines Corp. ("Denison" or the "Company") (DML: TSX;
DNN: NYSE American) is pleased to announce that it has entered into an agreement with Cantor Fitzgerald
Canada Corporation as a sole bookrunner and lead underwriter, o n behalf of a syndicate of underwriters
(together, the "Underwriters"), under which the Underwriters have agreed to purchase, on a "bought deal"
private placement basis, 6,030,000 flow-through common shares (the "Flow-Through Shares") at a price of
CAD$0.68 per share, for total gross proceeds of approximately CAD$4.1 million (the "Offering").
David Cates, President and CE O of Denison, commented, "This financing is expected to fund the
Company’s share of exploration expenditures in 2020, which are likely to be focused on the Company’s
90% owned Wheeler River project and involve further exploration around and delineation of the high-grade
Phoenix deposit. Potential to add additional resources at Phoenix exists outside of the currently defined
extents of the deposit – particularly around Zone B, where previous mineralized results remain open on
section or the interpreted optimal exploration target remains untested, and at Zone C, which is not currently
included in the mineral resource estimate, where similar targets exist. With several positive results returned
from recent In-Situ Recovery (‘ISR’) field tests carried out at Phoeni x, our confidence in the ISR mining
method is increasing and we believe the time is right to go back to Phoenix and delineate the full extent of
the mineralization, which will ultimately inform our mine planning activities and be incorporated into a future
feasibility study for the project."
The Company has granted the Underwriters an option to increase the gross proceeds of the Offering by up
to 15% (the "Underwriters' Option"), exercisable in whole or in part at any time up to two business days
prior to the closing date. The Underwriters will seek to arrang e 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 De cember 6, 2019 and is subject to the
completion of formal documentation and receipt of regulatory ap provals, including the approval of the
Toronto Stock Exchange and the NYSE American. The Flow-Through Shares issued in connection with the
Offering will be subject to a statutory hold period in accordance with applicable securities legislation.
The Company has agreed to use the gross proceeds from the sale of the Flow-Through Shares for
"Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)), related to the
Company's Canadian uranium mining exploration projects in Saska tchewan. The Company has also
agreed to renounce such Canadian exploration expenses with an effective date of no later than December
31, 2019.
About Denison
Denison is a uranium exploration and development company with interests focused in the Athabasca Basin
region of northern Saskatchewan, Canada. The Company's flagship project is the 90% owned Wheeler
River Uranium Project, which is the largest undeveloped ur anium project in the infrastructure rich eastern
portion of the Athabasca Basin region of northern Saskatchewan. Denison's interests in Saskatchewan also
include a 22.5% ownership interest in the McClean Lake Joint Venture ('MLJV'), which includes several
uranium deposits and the Mc Clean Lake uranium mill, which is cu rrently processing or e from the Cigar
Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest deposits and a 66.51%
interest in the J Zone and Huskie deposits on t he Waterbury Lake property. The Midwest, J Zone and
Huskie deposits are located within 20 kilometres of the McClean Lake mill. In addition, Denison has an
extensive portfolio of exploration projects in the Athabasca Basin region.
Denison is engaged in mine decommissioning and environmental services through its DES division, which
manages Denison's Elliot Lake reclamation projec ts and provides post-closure mine and maintenance
services to industry and government clients.
Denison is also the manager of Uranium Participation Corporation, a publicly traded company listed on the
TSX under the symbol 'U', which invests in uranium oxide in concentrates ('U3O8') and uranium
hexafluoride ('UF6').
For more information, please contact
David Cates (416) 979-1991 ext. 362
President and Chief Executive Officer
Sophia Shane (604) 689-7842
Investor Relations
Follow Denison on Twitter @DenisonMinesCo
Technical Disclosure and Qualified Person
The disclosure of scientific and technical information regarding Denison's properties in this news release was prepared
or reviewed by Dale Verran, MSc, P.Geo., Pr.Sci.Nat., the Company's Vice President, Exploration, a Qualified Person
in accordance with the requirements of NI 43-101.
Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this news release constitute s '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 re sults 'may', 'could', 'would', 'might' or
'will be taken', 'occur', 'be achiev ed' or 'has the potential to'. In particular, this news release contains forward-looking
information pertaining to the following: the Co mpany's expectations regarding t he proposed Offering, including the
completion and use of proceeds thereof; exploration, de velopment and expansion plans, objectives and regulatory
processes; and Denison's percentage inte rest in its properties and its plan s and agreements with its joint venture
partners, as applicable.
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 believe s 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 forw ard-looking events, please refer to the factors discussed in Denison's Annual
Information Form dated March 12, 2019 under the heading 'Ri sk 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 Deni son's expectations except as otherwise required by applicable
legislation.