Press Release Dated September 18, 2008
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
Date: September 19, 2008
Commission File Number: 000-24443
Denison Mines Corp.
(Translation of registrants name into English)
Atrium on Bay, 595 Bay Street, Suite 402, Toronto, Ontario M5G 2C2
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): o
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K
if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): o
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K
if submitted to furnish a report or other document that the registrant foreign private
issuer must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrants home
country), or under the rules of the home country exchange on which the registrants
securities are traded, as long as the report or other document is not a press release, is
not required to be and has not been distributed to the registrants security holders, and,
if discussing a material event, has already been the subject of a
Form 6‑K submission or
other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82-
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Denison Mines Corp.
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/s/ Brenda Lazare
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Brenda Lazare |
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Date: September 19, 2008 |
Canadian Counsel and Corporate Secretary |
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2
EXHIBIT INDEX
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Exhibit Number |
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Description |
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1. |
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Press release dated September 18, 2008 |
3
EXHIBIT 1
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Denison Mines Corp.
Atrium on Bay, 595 Bay Street, Suite 402
Toronto, ON M5G 2C2
Ph. 416-979-1991 Fx. 416-979-5893
www.denisonmines.com
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PRESS RELEASE
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Trading symbols: DML-T, DNN-A |
DENISON MINES CORP. ANNOUNCES NEW DISCOVERIES AT MUTANGA PROJECT, ZAMBIA
Toronto, ON September 18, 2008 ... Denison Mines Corp. (Denison or the Company) (DML: TSX,
DNN:AMEX) today announced the discovery of three new zones of mineralization at its Mutanga uranium
project in Zambia. The new zones were discovered during the drilling of the first three targets of
Denisons 2008 exploration program. The most significant hole (DMD77600-03) included 12.5 metres
of 1,204 ppm eU3O8 at a depth of only 74 metres. The 2008 program includes
an airborne radiometric survey and a 26,000 metre drill program.
The three separate zones of mineralization were located by widely spaced (generally 400 metre
centres) drilling. The Dibwe East Zone is located within three kilometres of the proposed Mutanga
pit boundary and is the most favorable of the three located to date. Initial testing has returned
several intersections, the most significant being hole DMD77600-03 with 80.3 metres of 351 ppm
eU3O8 from 18.0 metres depth, including 12.5 metres of 1,204 ppm
eU3O8. Hole DMD78000-03, also at Dibwe East, intersected 24.2 metres of 314
ppm eU3O8 from 23.0 metres depth. For comparison purposes, the average grade
contained in the original scoping study was 380 ppm, at a cut-off grade of 200 ppm.
Following the cessation of the development drill program in July, a total of 35 targets were
selected for drill testing on the basis of geology, structure, and radiometrics. A total of 6,000
metres has been drilled to date in just over a month out of a program total of 26,000 metres. Work
has been confined to the Dibwe Mutanga corridor. Drilling to date has tested the Dibwe East zone
with five holes that define an area approximately 1,200 metres by 800 metres. A second prospect
along this trend, the Mutanga West Zone is located approximately two kilometres southwest. It is
currently defined by one drill hole that returned 29.7 metres of 532 ppm
eU3O8, including 11.8 metres of 1,049 ppm eU3O8. The
following table details the significant intersections.
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Zone |
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Hole Number |
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Easting |
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Northing |
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From |
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To |
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Width |
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eU3O8
Grade* |
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(m) |
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(m) |
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(m) |
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(ppm) |
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Dibwe East (Zone 1) |
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DMD77600-03 |
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8191180 |
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660049 |
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18.0 |
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98.3 |
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80.3 |
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351 |
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Including |
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74.4 |
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86.9 |
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12.5 |
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1,204 |
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DMD77400-02 |
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8191265 |
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659681 |
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49.1 |
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74.0 |
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24.9 |
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377 |
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DMD77800-01 |
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8191229 |
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660251 |
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62.0 |
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74.7 |
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12.7 |
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608 |
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DMD78000-03 |
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8191624 |
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660280 |
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23.0 |
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47.2 |
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24.2 |
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314 |
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Dibwe East (Zone 2) |
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DMC75600-03 |
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8189459 |
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658870 |
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36.0 |
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77.2 |
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41.2 |
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412 |
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Mutanga West |
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DMC75600-03 |
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8193300 |
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658580 |
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12.5 |
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42.2 |
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29.7 |
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532 |
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Including |
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30.4 |
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42.2 |
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11.8 |
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1,049 |
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* |
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The grades reported herein are equivalent U3O8 grades based on
down-hole radiometric probing at a cut-off grade of 100 ppm eU3O8;
geochemical corroborative assay results have not been received at this time. All
intersections and geological interpretations are based on vertical diamond drill core or
reverse circulation drill chips only and mineralized intervals may not represent true
thickness. |
Mineralization at Dibwe East and Mutanga West is similar to that at the Mutanga deposit in
that it is composed of coarse autunite in fracture zones within an upper oxidized horizon overlying
fine grained disseminated mineralization within a pyritic reduced zone.
Work during the first seven months of the year concentrated on development drilling of the Mutanga
and Dibwe deposits. Approximately 41,742 metres of diamond and reverse circulation drilling was
completed in support of a 43-101 resource estimation study, which is anticipated to be released in
the fourth quarter.
A seven tonne bulk sample was collected and transported to SGS Laboratories in Perth, Australia,
where it is currently undergoing bench scale and pilot plant test programs to determine the optimum
mill process. In addition to the alkali leach circuit proposed in the original scoping study, heap
leach technology is also being investigated. Results of this testwork are expected later this
year.
Other work currently underway on the Mutanga project includes hydrogeological drilling to determine
potential water sources, condemnation drilling, environmental baseline monitoring and road and
power supply studies. Engineering aspects of the detailed feasibility study are ongoing with the
anticipated delivery of the feasibility study in the first quarter of 2009.
The technical information contained in this press release relating to the above described
exploration activities is reported and verified by William C. Kerr, Denisons Vice-President,
Exploration, who is a qualified person as defined in National Instrument 43-101. For a
description of the quality assurance program and quality control measures applied by Denison during
the above described work, please see Denisons Annual Information Form filed under the Companys
profile on March 28, 2008 on the SEDAR website at www.sedar.com.
About Denison
Denison Mines Corp. is a premier intermediate uranium producer in North America, with mining assets
in the Athabasca Basin region of Saskatchewan, Canada and the southwest United States including
Colorado, Utah, and Arizona. Further, the Company has ownership interests in two of the four
conventional uranium mills operating in North America today. The Company also has a strong
exploration and development portfolio with large land positions in the United States, Canada,
Zambia and Mongolia.
For further information contact:
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E. Peter Farmer
Chief Executive Officer
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(416) 979-1991 Extension 231 |
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Ron Hochstein
President and Chief Operating Officer
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(604) 689-7842 |
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James R. Anderson
Executive Vice President and Chief Financial Officer
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(416) 979-1991 Extension 372 |
Cautionary Statements
This news release contains ''forward-looking statements, within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation concerning
the business, operations and financial performance and condition of Denison.
Forward looking statements include, but are not limited to, statements with respect to estimated
production; the development potential of Denisons properties, including those of its joint
ventures; the future price of uranium; the estimation of mineral reserves and resources; the
realization of mineral reserve estimates; the timing and amount of estimated future production;
costs of production; capital expenditures; success of exploration activities; permitting time lines
and permitting, mining or processing issues; currency exchange rate fluctuations; government
regulation of mining operations; environmental risks; unanticipated reclamation expenses; title
disputes or claims; and limitations
on insurance coverage. Generally, these forward-looking statements can be identified by the use of
forward-looking terminology such as plans, expects or does not expect, is expected,
budget, scheduled, estimates, forecasts, intends, anticipates or does not anticipate,
or believes, or variations of such words and phrases or state that certain actions, events or
results may, could, would, might or will be taken, occur or be achieved.
Forward looking statements are based on the opinions and estimates of management as of the date
such statements are made, and they are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of
Denison to be materially different from those expressed or implied by such forward-looking
statements, including but not limited to risks related to: unexpected events during construction,
expansion and start-up; variations in ore grade, tonnes mined, crushed or milled; delay or failure
to receive board or government approvals; timing and availability of external financing on
acceptable terms; actual results of current exploration activities;; conclusions of economic
evaluations; changes in project parameters as plans continue to be refined; future prices of
uranium and vanadium; possible variations in ore reserves, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks
of the mining industry; delays in the completion of development or construction activities, as well
as those factors discussed in or referred to under the heading Risk Factors in Denisons Annual
Information Form dated March 28, 2008 available at www.sedar.com and its Form 40-F available at
www.sec.gov. Although management of Denison has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Denison does not undertake
to update any forward-looking statements that are incorporated by reference herein, except in
accordance with applicable securities laws. Mineral resources, which are not mineral reserves, do
not have demonstrated economic viability. Readers should refer to the Annual Information Form and
the Form 40-F of the Company for the year ended December 31, 2007 and other continuous disclosure
documents filed since December 31, 2007 available at www.sedar.com for further information relating
to their mineral resources and mineral reserves.