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Gold/Mining/Energy : denison mines

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To: Lalit Jain who wrote (84)	6/25/1997 8:54:00 AM
From: Lalit Jain	of 301

marcos, Some more good news. IMO, Denison is starting to do the right things. Regards, Lalit Jain ************************************************************* NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: DENISON MINES LIMITED TSE, ME SYMBOL: DEN JUNE 25, 1997 Denison Purchases $22.4 Million of its Debt TORONTO, ONTARIO--Denison Mines Limited announced today that it has reached agreements to acquire the remaining two promissory notes that are outstanding from the 1995 Dension restructuring. The promissory notes have an aggregate face amount of $26.9 million. The notes will be purchased by Denison for $13.02 million plus 15 million warrants to purchase Denison common shares at $0.55 over the next three years. The notes are a liability on Denison's balance sheet in the aggregate amount of $22.4 million. The issuance of the warrants is subject to certain regulatory approvals and should be completed in July 1997. As a result of the acquisitions, and provided regulatory approvals are obtained, Denison will book an after tax gain of $8.5 million in its second quarter financial results.

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