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Gold/Mining/Energy : Denison Mines (T.DEN)
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To: 4TNiner who wrote (2)6/18/1999 4:17:00 PM
From: MrsNose  Read Replies (1) of 9
 
Any thoughts as to whether or not this should stir up things? Seems to have made a difference today at least.
All the best,
Margie

Denison Mines Limited - AECB Gives Final Approval For Start Up Of
McClean Uranium Project

TORONTO, ONTARIO--Denison Mines Limited announced that the Atomic
Energy Control Board has given formal approval of the operating
licence to permit the McClean Lake project to commence producing
uranium concentrates.

The McClean processing facilities and related infrastructure have
been constructed and commissioned and uranium ore from the JEB Pit
has been stockpiled at the plant site to provide the feed to the
facilities during the initial months of operation. It is expected
that the final approvals from the Saskatchewan authorities will be
received shortly so that production can begin in the next week to
10 days.

It is anticipated that the facility will achieve commercial
production in October or November this year and be able to operate
at above the 6 million pound design capacity for the following 12
months. Denison's share of production is 2.1 million pounds of
the first 4.54 million pounds after which Denison will receive its
pro rata share of product.

The McClean ore reserves, together with those at the adjacent
Midwest property, total 85 million pounds of uranium of which
Denison's share is over 19 million pounds. These high grade
reserves are sufficient for a 14 year project life at design
production rates and the potential for further discoveries is
good.

The McClean Lake project is owned 22.5 percent by Denison, 70
percent by Cogema Resources Inc., which is the operator, and 7.5
percent by OURD (Canada) Co., Ltd.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Denison Mines Limited
E. Peter Farmer
President and Chief Executive Officer
(416) 979 - 1991 Extension 231
www.denisonmines.com
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