Denison Mines Corp. · TSX:DML
Denison Mines — 28th Annual ROTH Conference 2016
24 slides from Denison Mines's conference presentation, March 2016
Slide 1: Denison Mines Corp.: Uranium Development & Exploration in the Eastern Athabasca Basin
Denison Mines Corp. Uranium Development & Exploration in the Eastern Athabasca Basin ROTH Capital Partners 28th Annual ROTH Conference March 13 – 16, 2016 TSX: DML | NYSE MKT: DNN
Slide 2: Cautionary Statements & References
Cautionary Statements & References 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 e
Slide 3: Bright Future for Nuclear Energy & Uranium
Bright Future for Nuclear Energy & Uranium • Global nuclear reactors and capacities are expected to increase over the next 5, 10, and 15+ years • +45% growth from 2015 to 2030 • China increasing nuclear fleet at remarkable rate – from 13 reactors in service in 2010 to 30 reactors in service today +
Slide 4: Significant Uranium Resource Base at Wheeler
Significant Uranium Resource Base at Wheeler 2015 Wheeler River Property Mineral Resource Estimate Summary Million lbs Million lbs Grade U3O8 U3O8 Deposit Category Tonnes (%U3O8 ) (100%) (Denison) Gryphon Inferred 834,000 2.3 43.0 25.8 Phoenix Indicated 166,000 19.1 70.2 42.1 Phoenix Inferred 9,000
Slide 5: Wheeler River: Denison's 1-2 PUNCH
Wheeler River: Denison’s 1-2 PUNCH PHOENIX + GRYPHON POISED FOR CO-DEVELOPMENT Large Size: 70.2M lbs indicated + 44.1M lbs inferred High Grade: Over 70M lbs at Phoenix grading over 19% Infrastructure: Provincial power line and highway Milling: 22.5% owner of McClean mill with excess capacity Managem
Slide 6: Considerable Eastern Athabasca Basin Infrastructure
N Considerable Eastern Athabasca Basin Infrastructure • Established district for environmental & regulatory approvals • Uranium mills at McClean Lake, Rabbit Lake and Key Lake • Uranium mines at McArthur River, Cigar Lake and Eagle Pt. • Access to provincial power grid & transportation Northern Sas
Slide 7: Potential for Co-Development at Wheeler
Potential for Co-Development at Wheeler Complementary Deposits within 3km Gryphon Deposit Provincial 43.0M lbs U308 @ 2.3% (INF) Power Grid McClean 1. Gryphon: Potential for Basement Hosted Lake Starting at depth of ~580 m conventional / low cost Provincial underground mining of Highway high grade b
Slide 8: Basement Hosted Gryphon Deposit
Basement Hosted Gryphon Deposit
Slide 9: Basement Hosted Gryphon Deposit
Basement Hosted Gryphon Deposit • Mineralized wireframe from 3D resource model shown with typical cross section, which illustrates a series of stacked lenses of mineralization TSX: DML | NYSE MKT: DNN | 9
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Slide 11: Exceptionally High Grade Phoenix Deposit
Exceptionally High Grade Phoenix Deposit • Phoenix Zone A is defined by a single continuous high- grade domain surrounded by a lower grade domain, which straddles the unconformity TSX: DML | NYSE MKT: DNN | 11
Slide 12: Looking Ahead at Wheeler River
Looking Ahead at Wheeler River 2016 Exploration Plan K North • 47,000 metres of drilling ~ 6 km • CAD$10M Budget (Denison’s share CAD$6M) • Numerous targets in the vicinity of Gryphon - along Q the K-North trend Central • Other high priority targets (O Zone and Q Central) O Zone ~3km TSX: DML | NYSE
Slide 13: High Grade Discovery North of Gryphon
High Grade Discovery North of Gryphon 2016 Exploration Results • Discovery: New mineralization 100 metres north of Gryphon deposit • D-Series: WR-633D1 and WR-641 may represent the down plunge extent of the D-Series lenses roughly 180m up plunge • Open in all Directions: Little previous drill testin
Slide 14: Section View of Gryphon Lenses
Section View of Gryphon Lenses • Gryphon mineralization occurs in a series of stacked lenses • Gryphon deposit resource estimate includes only the A, B & C series lenses • Gryphon deposit resource estimate excludes D-Series lenses, due to insufficient drilling completed at the time of the resource S
Slide 15: New High Grade Results on Section 5200
New High Grade Results on Section 5200 Significant Mineralization in Basal Pegmatite Unit Drill Hole From (m) To (m) Length (m) 5 eU3O8 1 Section 5200 WR-633D1 3 751.5 754.7 3.2 2.0 (includes) 4 753.6 754.6 1.0 5.7 (and) 3 757.7 765.3 7.6 1.7 (includes) 4 760.3 762.0 1.7 6.3 (includes) 4 764.2 765.2
Slide 16: Looking Ahead at Wheeler River
Looking Ahead at Wheeler River Preliminary Economic Assessment (“PEA”) EXPECTED H1/2016 TO EVALUATE GRYPHON AND PHOENIX CO-DEVELOPMENT 2016 Evaluation Plan • Budget: CAD$2.6M (CAD$1.6M Denison) • PEA in progress and expected during H1/2016 • Plan developed to potentially initiate work on a Prefeasib
Slide 17: Uniquely Diversified Asset Base
Uniquely Diversified Asset Base • Denison’s Flagship property in • Strategic high-grade AB uranium mill eastern Athabasca Basin (AB) • Expected to have up to • Phoenix + Gryphon 6 M lbs/year excess co-development milling capacity being evaluated Wheeler McClean by end of 2016 • PEA in progress River
Slide 18: 2016 Exploration Overview
N 2016 Exploration Overview • CAD$22.0M Total Budget • CAD$15.3M Denison’s Share • ~75,000 metres planned • Focus on High Priority Properties • +80% of total metres on TOP 5 Properties • Wheeler, Murphy, Crawford, Wolly and Waterbury • Follow up on discovery of potentially significant uranium miner
Slide 19: Discovery of Uranium at Murphy Lake
Discovery of Uranium at Murphy Lake S Surface N Murphy Lake Highlights • Denison 69% (Operator), Eros Resources (formerly Anthem) 31% • Located 30 km NW of the McClean Lake mill (22.5% Denison) Bleaching and • Discovery of Uranium in Drill hole desilicification MP-15-03 intersected 0.25% U3O8 Clay a
Slide 20: McClean Lake Mill (Saskatchewan)
McCLEAN LAKE MILL (Saskatchewan) (Denison owns 22.5%; AREVA 70%; OURD 7.5%) • Toll Milling from Cigar Lake Increasing Denison to earn • 16M lbs U3O8 production planned for 2016 CAD$7.1M in • Mill Expansion Continues revenue • 13M lbs to 24M lbs per year, subject to licensing from McClean & • Fully f
Slide 21: 2016 Budget Highlights
2016 Budget Highlights 2016 Budget Highlights (CAD, Millions) $10.0 $5.0 4.1 1.2 $0.0 -0.5 -1.6 -1.7 -2.8 -$5.0 2016 Financial Plan – CAD View: -$10.0 • ~CAD$16.5M cash outflow • Majority of budget is CAD denominated -$15.0 • Translated from USD reported budget -15.3 using USD:CAD FX rate of 1:1.3 -
Slide 22: The Denison Advantage
The Denison Advantage • Flagship Wheeler River Project (60%) – Gryphon + Phoenix Deposits • Large scale and high-grade Eastern Athabasca Basin project • PEA in progress for Phoenix + Gryphon co-development scenario • Strategic ownership of McClean Lake uranium mill (22.5%) • Excess capacity expected
Slide 23: Corporate Information
Corporate Information Market Summary Management & Directors Exchanges TSX: DML, NYSE MKT: DNN Lukas Lundin (Executive Chairman) Shares Outstanding(1) 518.4 M David Cates (President & CEO) Warrants(1) nil Mac McDonald (VP Finance & CFO) Options(1) 6.5 M Peter Longo (VP Project Development) Fully Dilu
Slide 24: Investor Update
Investor Update TSX: DML NYSE MKT: DNN Phone: Email: Online: 416.979.1991 x366 info@denisonmines.com www.denisonmines.com or 1.888.689.7842 @DenisonMinesCo