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Denison Mines Denison Reports Results from Q2 2021 TORONTO , Aug. 5 , 2021 / CNW / - Denison Mines Corp. ( ' Denison ' or the ' Company ' ) ( TSX : DML ) ( NYSE American : DNN ) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ( ' MD & A ' ) for the quarter ended June 30 , 2021. Both documents will be available on the Company's website at www.denisonmines.com or on SEDAR ( at www.sedar.com ) and EDGAR ( at www.sec.gov/edgar.shtml ) . The highlights provided below are derived from these documents and should be read in conjunction with them . All amounts in this release are in Canadian dollars unless otherwise stated . PDF Version David Cates , President and CEO of Denison commented , " The Company continues to successfully advance on its ambition of developing the high - grade Phoenix deposit , as potentially one of the lowest cost uranium mines in the world , at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle . Thus far in 2021 , our corporate team has bolstered our balance sheet with our recent financings and uranium purchases , consolidated a further 5 % ownership in our flagship Wheeler River project through our acquisition of 50 % of JCU , and completed the transition of Uranium Participation Corp. to the Sprott Physical Uranium Trust . On the technical side , in relation to our progress at Phoenix , we have reported several positive updates on ISR field testing activities , metallurgical studies in support of the ISR mining method , and the discovery of additional high - grade uranium in the area of our expected first mining phase . Taken together , we believe that Denison is well positioned to continue de - risking the use of the ISR mining method at Phoenix and ultimately compete with the incumbent uranium producers in the coming years when the market needs additional sources of production . Our focus for the remainder of 2021 is expected to be in the field , where we plan to be active on both the evaluation and exploration front . Our evaluation team is preparing for full - scale pump and injection tests as well as ion tracer tests at Phoenix , making use of the commercial - scale 5- spot test pattern installed earlier this year . Our exploration team is also readying to resume drill testing of various target areas at Wheeler River and nearby properties that are prospective for the discovery of additional potentially ISR amenable uranium resources . With results from these programs expected through the third and fourth quarter , it is an exciting time for investors to follow both the uranium market and Denison's company - specific activities closely . " HIGHLIGHTS • In - Situ Recovery ( ' ISR ' ) field test activities at the Phoenix uranium deposit ( ' Phoenix ' ) progress A substantial portion of the ISR field test program has been successfully completed , including the installation of all five commercial - scale wells ( ' CSWs ' ) and nine of eleven monitoring wells ( ' MWs ' ) planned for the 5 - spot test pattern ( the ' Test Pattern ' ) located in the Phase 1 area of Phoenix on the Company's Wheeler River Uranium Project ( ' Wheeler River ' or the ' Project ' ) . Based on the progress to date , multi - day pump and injection tests and ion tracer tests are planned to be initiated and completed on the full - scale Test Pattern during the third quarter . • Discovered high - grade uranium outside of the Phoenix Zone A high - grade domain Drill hole GWR - 045 was completed as part of the ISR field test program to install MWs to the northwest of the CSW Test Pattern . Based on the mineral resources currently estimated for Phoenix , GWR - 045 was expected to intersect low grade uranium mineralization on the northwest margin of the deposit , approximately 5 metres outside of the boundary of the Phoenix Zone A high - grade resource domain . The drill hole , however , intersected a thick interval of high - grade unconformity - associated uranium mineralization with grades of 22.0 % eU3O8 over 8.6 metres . The intersection is presently open further to the northwest and represents an area for further exploration and potential mineral resource expansion of Phoenix . • Decision to increase anticipated ISR mining head grade at Phoenix by 50 % Positive interim results , completed to date , from the ongoing metallurgical test program for the planned ISR mining operation at Phoenix have consistently supported uranium bearing solution ( ' UBS ' ) head - grade for Phoenix well in excess of the 10 grams / Litre used in the Pre - Feasibility Study ( " PFS " ) completed for Wheeler River in 2018. Accordingly , the Company has decided to adapt its plans for the remaining metallurgical test work , including the bench - scale tests of the unit operations of the proposed process