Slide 1: Denison Mines Corp. Investor Update
Denison Mines Corp. Investor Update August 2014
Slide 2: Cautionary Statements
Cautionary Statements This presentation includes forward-looking information or forward-looking statements under Canadian and U.S. securities laws that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-
Slide 3: Denison's Strategic Strengths
Denison’s Strategic Strengths • One of the best exploration projects combined with strong, growing portfolio near Athabasca Basin infrastructure • Canadian development projects with access to uranium milling in the Athabasca Basin • Access to novel mining technology (SABRE) ideal for Athabasca type
Slide 4: Athabasca Basin Portfolio
Athabasca Basin Portfolio (as of June 27, 2014) 4
Slide 5: Recent Acquisition
Recent Acquisition • Mann Lake - 52.5% Cameco 17.5% AREVA 30% Denison • 2014 Program - 18 holes, 13,000 m – 2.31% eU3O8 / 5.1 m, including 0.4 metres at 10.92% eU3O8 in MN- 060 – 3.67% eU3O8 / 1.2 m, including 11.02% eU3O8 / 0.3 m in MN-065 – Trend Open Along 3.1 km – Basement hosted mineralization
Slide 6: Wheeler River Project
Wheeler River Project Wheeler River Project • Denison 60% • Cameco 30% • JCU 10% • Denison is the operator 6 6
Slide 7: Wheeler Targets in 2014
DENISO MINES Ad Wheeler Targets in 2014 Drill Hole Collar . 2014 Completed Collars —+——+ power line pelite graphitic pelite gametiferous pelite ~~ main road Reming —~- access road quarizite granite A camp =m iN)
Slide 8: Phoenix A Uranium Deposit
Za) f = DENISON MINES CORP. | PHOENIX A URANIUM DEPOSIT S WHEELER RIVER PROPERTY WR-559" 7 or Denison 60% Cameco 30% JCU 10% : 5.26) %eU,0,/2.3m PW S ~ WR-539 ; iS - Only the highest arate | \ 13.12%U,0,/5.0m intersections are shown where q drill holes have more than one . x mineralized interval. *
Slide 9: Athabasca Basin Deposits
Athabasca Basin Deposits Contained M lbs U3O8 as of June 2014 McArthur River Cigar Lake Shea Creek Millenium M&I Phoenix Roughrider Inf Midwest Eagle Point PHOENIX RESOURCE ESTIMATE* Horseshoe/Raven Million Lbs. McClean Tonnes Grade U3O8 Horseshoe Category (100% Basis) (% U3O8) (100% Basis) Tamarack
Slide 10: Athabasca Basin Deposits
Athabasca Basin Deposits Grade % U3O8 as of June 2014 Phoenix Cigar Lake McArthur River Roughrider Midwest Millennium Tamarack Dawn Lake McClean J Zone Shea Creek Midwest A West Bear Eagle Point Horseshoe/Raven 0 2 4 6 8 10 12 14 16 18 20 % AllUdata 3Ofrom 8 Public Sources. All Resource Categories h
Slide 11: Wheeler River – Geophysics & Geochemistry
Wheeler River – Geophysics & Geochemistry Geophysics • DC-Resistivity Compilation Geochemistry • Trace Element Compilations Phoenix Phoenix 11
Slide 12: Gryphon Long Section
DENISO MINES Ad Gryphon Long Section sw Sub-Athabasca UREEC NE unconformity - © ZK-06 © ZK-04 WR-569A 3.1% / 3.0 m and 9.4% / 4.0m and 8.1% /1.1m and 5.3% /5.9m and 3.0% / 2.0 m WR-567 1.1% / 2.7m WR-564 3.0% / 2.3m and 4.5% / 1.0m 560 21.2% / 4.5m (Lower Lens) WR-556 15.3% / 4.0m © WR-568. -<—| Gry
Slide 13: 2014 Summer Activities
2014 Summer Activities Wheeler River – 14,000 – 15,000 m Crawford Lake – 3,600 m Bachman Lake – 1,200 m McClean Lake – 1,500 m Updated resource estimate for Phoenix expected in June 13
Slide 14: McClean Lake Mill (Saskatchewan)
McCLEAN LAKE MILL (Saskatchewan) • Denison owns 22.5%, AREVA 70%, OURD 7.5% 14
Slide 15: McClean Lake Mill Modifications & Expansion
McClean Lake Mill Modifications & Expansion • Mill expansion well underway • Capacity increase from 13 M to 24 M lbs/yr • Completed 2016 • Approximately $300 M for expansion and leach circuit mods • 100% funded by Cigar Lake Joint Venture • Processing to begin late Q3 - 2014 15
Slide 16: Cigar Lake Ore
Cigar Lake Ore • 5 m3 vessels x 4 per load • ~ 10,000 lbs U3O8 per load • Transported 85 km by road from Cigar to McClean mill • For 2014 McClean uranium production projected at 1.0 – 1.1 million lbs. • For Denison toll milling to generate $0.3 – 0.4 million Source: AREVA Resources Canada Inc. 16
Slide 17: Diversified African Portfolio
Diversified African Portfolio Mutanga 17
Slide 18: Resources
Resources Tonnes U3O8 Lbs U3O8 Project Category (000’s) (%) (000’s) Mutanga* Measured & Indicated 10,280 0.03 7,809 Inferred 65,270 0.03 41,400 Falea** Measured & Indicated 15,670 0.09 29,581 Inferred 15,350 0.05 15,688 Total Measured & Indicated 25,950 0.06 37,390 Inferred 80,620 0.03 57,088 Falea
Slide 19: Mutanga/Falea Comparison
Mutanga/Falea Comparison Mutanga Falea Exploration Potential √√ √ Resources (M lbs. U3O8) √ √√* Infrastructure + - Political Risk + - Metallurgy + - Value per Tonne** $23.00 $185.00 Mining Open pit U/G * Falea also includes copper and silver ** At current metal prices. 19
Slide 20: Gurvan Saihan JV – Mongolia
Gurvan Saihan JV – Mongolia • Resources • Indicated - 19.8 million lbs. (12.3 million tonnes @ 0.07% U3O8) • Inferred - 5.8 million lbs. (5.5 million tonnes @ 0.05% U3O8 ) • Mining license applications filed • 2014 – focus on restructuring 20
Slide 21: Financial Snapshot
Financial Snapshot • At end of Q2 Company has US$23.9 million in cash and equivalents • On August 12th, 2014 closed a CAD$15.0 million flow through financing to fully finance 2015 Canadian exploration program • Long term cash stream from toll milling begins in 2014 21
Slide 22: 2014 Management Objectives
2014 Management Objectives • To continue to build the strongest portfolio of strategic uranium deposits in the Athabasca Basin through resource development and strategic acquisitions • To ensure all environmental, health and safety laws and requirements are met • To dispose/spin-out international as
Slide 23: Corporate Information
Corporate Information Exchanges TSX, NYSE - MKT Ron Hochstein (Pres & CEO, Director) Shares Outstanding 505.6 M David Cates (V.P. & CFO) Warrants 1.4 M Steve Blower (V.P. Exploration) Options 7.0 M Lukas Lundin (Chairman) Fully Diluted 514.0 M John Craig (Lead Director) Market Cap. Bob Dengler (Dire
Slide 24: For further info, contact: Denison Mines Corp.
For further info, contact: Denison Mines Corp. Phone: 416.979.1991 ext 366 Toll Free: 1.888.689.7842 Email: info@denisonmines.com Web: www.denisonmines.com TSX:DML www.denisonmines.com NYSE MKT:DNN