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Gold/Mining/Energy : denison mines -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (282)	10/10/2002 11:36:03 AM
From: Stephen O	Respond to of 301

Denison Energy Inc. announced that the Canadian Nuclear Safety Commission ('CNSC') has filed an application with the Federal Court to seek a stay of the decision of Mr. Justice Campbell that quashed the 1999 McClean Lake operating licence issued by the CNSC. Cogema Resources Inc., the operator of the McClean Lake uranium facility, filed its application last week and both the CNSC and Cogema have appealed the decision. The material filed by the CNSC emphasizes that the quashing of the 1999 McClean Lake operating licence, which was superseded by the current operating licence issued in August 2001, was the result of an error of law and casts uncertainty over the licensing process and the current operating licence, even though the current operating licence was not the object of the judicial review before Mr. Justice Campbell. The current operating licence was subjected to an environmental assessment pursuant to the Canadian Environmental Assessment Act ('CEAA'). The current licence was issued in August 2001 by the CNSC following the CEAA assessment and CNSC's independent consideration of environmental factors. The stay application will be heard as early as October 16, 2002 and as late as November 6, 2002 by the Appeal Court. The McClean Lake operations that commenced in July 1999 continue to meet or better all regulatory standards for health, safety and the environment. The news release contains forward- looking information with respect to Denison's operations and future financial results. Actual results may differ from expected results for a variety of reasons including factors discussed in the Company's Management Discussion and Analysis section of its 2001 Annual Report. CONTACT: TEL: (416) 979-1991 x 231 E. Peter Farmer, President & CEO WEBSITE: www.denisonenergy.com