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Denison Announces Option of Non-Core Exploration Projects to Foremost for up to $30 Million in Combined Consideration
Denison Announces Option of Non-Core Exploration Projects to Foremost for up to $30 Million in Co...
About this update from Denison Mines Corp.
[{"type":"text","content":"\n\n\n\n Denison Announces Option of Non-Core Exploration Projects to Foremost for up to $30 Million in Combined Consideration\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n\n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Sept. 24, 2024\n \n\n /CNW/ -\n \n Denison Mines Corp.\n \n (\"\n \n Denison\n \n \" or the \"\n \n Company\n \n \") (TSX: DML) (NYSE American: DNN) is pleased to announce that is has executed an option agreement (the \"\n \n Option Agreement\n \n \") with a Nasdaq listed company to be renamed Foremost Clean Energy Ltd (\"\n \n Foremost\n \n \") (NASDAQ: FMST) (CSE: FAT), which grants Foremost an option to acquire up to 70% of Denison's interest in 10 uranium exploration properties (collectively, the \"\n \n Transaction\n \n \"). Pursuant to the Transaction, Foremost would acquire such total interests upon completion of a combination of direct payments to Denison and funding of exploration expenditures with an aggregate value of up to approximately\n \n $30 million\n \n .\n \n View PDF version\n \n\n\n\n David Cates\n \n , President & CEO of Denison, commented, \"\n \n\n Denison is pleased to work with Foremost to enhance the potential for discovery on an excellent portfolio of uranium exploration properties that would otherwise receive little attention from Denison with our current focus on development and mining stage projects. We are impressed with Foremost's leadership team and technical capabilities and are excited to see high-potential exploration work being carried out on these properties in the coming years.\n \n\n\n\n\n\n The Transaction is structured to incentivize exploration activity, with Foremost required to invest a minimum of\n \n $8 million\n \n in exploration expenditures to retain any interests in the properties and\n \n $20 million\n \n in exploration expenditures to fully exercise the option.\"\n \n\n\n\n\n Key Transaction Highlights:\n \n\n\n\n Collaboration with Foremost is expected to increase exploration activity on a portfolio of non-core Denison properties with the potential ...