Admin Assistant 10/24/22 Admin Assistant 10/24/22

Denison Announces Exploration Agreement with Ya'thi Néné Lands and Resources, the Athabasca Nations, and Communities of the Nuhenéné

Exploration Agreement to pave the way for meaningful engagement and economic participation in the mining industry for the First Nations and communities in the Athabasca Basin

Exploration Agreement to pave the way for meaningful engagement and economic participation in the mining industry for the First Nations and communities in the Athabasca Basin

October 19, 2022 – Prince Albert, SK – Today, Ya’ thi Néné Lands and Resources (YNLR) and Denison Mines Corp. (Denison) have announced an Exploration Agreement to establish a long-term, meaningful partnership between YNLR, Denison, and the seven Athabasca Basin communities. This Agreement acknowledges the Basin communities’ support for Denison’s uranium mining exploration projects in their Traditional Territory (Nuhenéné) and provides certainty to the communities by providing meaningful engagement around proposed projects, training and employment opportunities, business opportunities, environmental protection, and financial contributions to the seven communities in the Athabasca Basin.

This Exploration Agreement will help to blaze a trail for meaningful Indigenous engagement and benefits from exploration activities undertaken on the Traditional Territories of Hatchet Lake Denesułiné First Nation, Black Lake Denesułiné First Nation, Fond du Lac Denesułiné First Nation, and the municipalities of Stony Rapids, Uranium City, Wollaston Lake, and Camsell Portage. The Agreement formalizes Denison’s commitment to work collaboratively with YNLR and the Athabasca communities and to conduct its exploration activities in a sustainable manner that respects First Nations’ Inherent and Treaty Rights, advances reconciliation with Indigenous peoples, and provides benefits to the communities of the Nuhenéné.

The Agreement establishes a progressive and sustainable basis for maintaining a cooperative and mutually beneficial relationship between all parties. Included is a framework for information-sharing and permitting processes, environmental protection and monitoring, and the sharing of financial benefits through the Athabasca Community Trust to support community development initiatives.

YNLR, a non-profit organization owned by the seven communities of the Nuhenéné, will provide oversight and implementation of the Agreement that aligns with their mandate to protect the land and promote the people. This will include active site monitoring by YNLR Community Land Technicians in locations where exploration activities are agreed to take place.

Quotes:

“Our communities want to participate in and benefit from projects happening on our lands, which historically has not always been the case. This Exploration Agreement will provide certainty to our Basin communities that there will be meaningful engagement on proposed projects and monitoring of exploration activities to ensure the environment and all Treaty Rights are respected. The economic benefits will help to strengthen our communities in the Basin. We acknowledge and respect Denison’s leadership in advancing reconciliation with our communities,” said Mary Denechezhe, Board Chair, Ya’ thi Néné.

“This agreement formalizes years of work that Denison and Ya’ thi Néné Lands and Resources have undertaken together in the spirit of collaboration, resulting in several notable achievements, including the renaming of Waterbury Lake’s J Zone deposit to Tthe Heldeth Túé in honour of the Denesułiné Territory in which the deposit is located. Our past and present actions demonstrate a mutual willingness to engage in positive business practices that advance reconciliation, and this Exploration Agreement further codifies how the principles expressed in Denison’s Indigenous Peoples Policy will guide our activities in the Nuhenéné into the future,” said David Cates, President and CEO, Denison.

About Denison

Denison is a uranium 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. 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 that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 67.01% interest in the Tthe Heldeth Túé (“THT,” formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest Main, Midwest A, THT and Huskie deposits are each located within 20 kilometres of the McClean Lake mill.

Through its 50% ownership of 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%). Denison’s exploration portfolio includes further interests in properties covering approximately 300,000 hectares in the Athabasca Basin region.

Denison is also engaged in post-closure mine care and maintenance services through its Closed Mines group, which manages Denison’s reclaimed mine sites in the Elliot Lake region and provides related services to certain third-party projects.