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Gold/Mining/Energy : denison mines
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To: Lalit Jain who wrote (277)5/7/2002 6:09:31 PM
From: Lalit Jain  Read Replies (1) of 301
 
Denison Mines Limited: Countess Well Successful And
Additional Land Acquired

MAY 7, 2002 - 17:07 EDT

TORONTO, ONTARIO--Denison Mines Limited today reported that the
first well of the two well drilling program at Countess
encountered two oil producing zones and was cased on May 5, 2002.
Production will commence as soon as the area is dry enough to
permit removal of the drilling rig and completion of well. The
second well will be spudded as soon as the rig can be moved to the
new well location.

Denison has reached agreement to acquire the rights to drill wells
and thereby acquire Alberta Crown licenses on up to 23 sections of
land within 6 kilometers of its existing Knappen field in southern
Alberta. The vendor of the rights will have a 7% gross overriding
royalty on any production. Denison has until November 16, 2002 to
earn the Crown licenses on about 4 sections of land for each well
drilled. The first well will be spudded before the end of June
2002.

Denison also reported that it filed its Annual Information Form on
May 6, 2002. Copies can be obtained from Denison's website,
www.denisonmines.com, the Sedar website, www.sedar.com, or by
contacting Denison's Corporate Secretary.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Denison Mines Limited
E. Peter Farmer
President and Chief Executive Officer
(416) 979-1991 Extension 231
or
Denison Mines Limited
Stephen N. Ewaskiw
Vice-President, Oil and Gas Operations
(403) 264-4111 Extension 301
www.denisonmines.com
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