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

To: Lalit Jain who wrote (167)	6/29/1998 9:43:00 AM
From: Lalit Jain	Read Replies (1) \| Respond to of 301

FOR: DENISON MINES LIMITED TSE, ME SYMBOL: DEN JUNE 29, 1998 Denison Announces Oil Exploration Drilling Date and Obtains Stanrock Decommissioning Licence TORONTO, ONTARIO--Denison Mines Limited announced today that a rig has been contracted to drill up to three exploration wells in the north Aegean Sea offshore Greece. The rig is being mobilized with August 1, 1998 as the estimated start date for drilling the first well. The location of the drilling will be finalized at the Operating Committee meetings in Athens on July 8th. Denison has received a decommissioning licence from the Atomic Energy Control Board ("AECB") for its Stanrock site at Elliot Lake, Ontario. The licence provisions are as anticipated. The capital works at Stanrock are proceeding and will be completed early this fall. This is the final licence required for the closure of the Elliot Lake mining facility. The AECB has not to date, given permission to complete construction of the Tailings Management Facility at the McClean Lake project. E. Peter Farmer, Denison's President and Chief Executive Officer, said that "significant progress has been made with the filing of the additional material requested by the AECB. I believe that determination by the AECB to permit completion of construction of the Tailings Management Facility is still achievable in time to permit production later in the year." Denison Environmental Services has been awarded the contract to decommission the Algoma Steel mine and mill near Wawa, Ontario. The reclamation work and the sale of the assets and equipment associated with the mine are proceeding well.