KML represents the Métis members who dwell and follow conventional actions within the neighborhood of the Wheeler River Challenge and the Métis residents of the Village, which is located roughly 270 km south from the Challenge alongside provincial freeway 914 and represents the closest municipality to the Challenge.
Government Director of KML, Billie Jo Natomagan , remarked that ” On behalf of KML, I’m honored to announce the signing of our MBA with Denison Mines . This represents a big step ahead in our ongoing efforts to safe sustainable financial growth whereas defending and selling our tradition, language, traditions, and rights. By means of this settlement we are going to proceed to have interaction with Denison Mines to observe and consider the outcomes of this partnership, making certain that our targets of financial growth, environmental stewardship, and social well-being are met.
We admire the dedication proven by Denison Mines in recognizing and valuing our distinctive relationship with the land and sources within the Challenge space. This settlement signifies hope and alternative for our neighborhood and for future generations.
I wish to lengthen because of everybody concerned within the negotiation course of, together with our negotiation staff, our elders, land customers, and advisors. Your dedication and arduous work have been instrumental in attaining this milestone. ”
Mayor of the Village of Pinehouse , Mike Natomagan , acknowledged, ” We’re excited to share that we’ve been in a position to attain an settlement with Denison relating to the development of the Wheeler River challenge. This can be a vital milestone for our neighborhood. Leaning on the expertise and classes realized from our earlier settlement we have been in a position to negotiate a very significant settlement.
This settlement is not only a doc, however a testomony to the power and resilience of our neighborhood, and our dedication to sustainable neighborhood growth. This partnership will deliver extra alternatives for employment, coaching and neighborhood growth that may profit our individuals and our future. This can be a vital second for our neighborhood and offers us hope for a brighter future. Thanks to our elders, neighborhood, and negotiations staff for supporting us by way of this course of. Tiniki. ”
David Cates , President & CEO of Denison, commented, ” The signing of those agreements represents one other vital and vital milestone for Denison and the Wheeler River challenge. Following the signing of a Memorandum of Understanding amongst Denison, KML, and the Village in 2017, the place every social gathering expressed a mutual curiosity in supporting the development of the Challenge, our staff has targeted its intensive engagement efforts in the direction of constructing a long-lasting and genuine relationship of belief and mutual respect.
KML and the Village have welcomed Denison employees into Pinehouse on a number of notable events during the last a number of years and we’ve gained a singular first-hand appreciation for the Métis and non-Métis views and values of the neighborhood. As such, it’s notably rewarding for us to have earned the assist and consent for the development of the Challenge from each KML and the Village. Thanks to all from KML and the Village which have contributed to the expansion of our relationship and finally the completion of those agreements.”
The MBA acknowledges that the Challenge is positioned inside KML’s Land and Occupancy Space and gives Denison with KML’s consent and assist to advance the Challenge. Moreover, the MBA outlines a shared recognition that the profitable development of the Challenge can assist KML to advance their aspirations for the profitable social and financial growth of KML, whereas additionally mitigating the chance of impacts on the native atmosphere and KML members.
Amongst different key commitments, the MBA gives KML and its Métis members an vital function in environmental monitoring and commits to the sharing of advantages from the profitable operation of the challenge – together with advantages from neighborhood funding, enterprise alternatives, employment and coaching alternatives, and monetary compensation. Total, the MBA describes a collectively held imaginative and prescient for the long run that displays a mutual dedication to keep up an open, respectful, and cooperative relationship between Denison and KML. Importantly, the MBA defines the traits of the constructive legacy that will probably be related to the sustainable growth of the Challenge.
The CBA acknowledges that the Village is the closest residential neighborhood to the Challenge by highway, which depends on a lot of the identical regional infrastructure that Denison will rely because it advances the Challenge. Pursuant to the phrases of the CBA, the Village has supplied Denison with their consent and assist for the Challenge. Denison’s commitments within the CBA are supposed to assist the Village develop its personal capability to make the most of financial and different growth alternatives in reference to the development and operation of the Challenge. The commitments within the CBA purpose to create a long-lasting constructive legacy that continues past the lifespan of the Challenge.
About KML & the Village
KML peoples are thought-about Woodland Cree, Woodland Dene, and Woodland Métis, though historic paperwork point out that members of KML got here from a various vary of Métis, First Nations, and different backgrounds.
The Village is positioned throughout the land and occupancy space of the Indigenous individuals of KML. The lands surrounding Missinippi (Churchill River) watershed have been used for gathering meals, shelter, and materials provides since time immemorial.
KML and the Village residents routinely take pleasure in vital employment and enterprise alternatives for tasks that happen in KML territory, due to their mixed and collaborative efforts. Nice pleasure is taken within the work ethic of KML and the Village, and thru mixed efforts with neighborhood owned companies, latest income have been used to construct elevated vitality environment friendly housing, youth infrastructure such as a neighborhood hockey area, and a 12-unit Elders housing facility.
About Wheeler River
Wheeler River is the most important undeveloped uranium challenge within the infrastructure-rich japanese portion of the Athabasca Basin area, in northern Saskatchewan . The challenge is host to the high-grade Phoenix and Gryphon uranium deposits, found by Denison in 2008 and 2014, respectively, and is a three way partnership between Denison (90% and operator) and JCU ( Canada ) Exploration Firm Restricted ( ” JCU ” , 10%). In August 2023 , Denison filed a technical report summarizing the outcomes of (i) the feasibility research accomplished for In-Situ Restoration ( ” ISR ” ) mining of the high-grade Phoenix uranium deposit and (ii) a price replace to the 2018 Pre-Feasibility Research for standard underground mining of the basement-hosted Gryphon uranium deposit. Based mostly on the respective research, each deposits have the potential to be aggressive with the bottom price uranium mining operations on the earth. Allowing efforts for the deliberate Phoenix ISR operation commenced in 2019 and have superior considerably, with licensing in progress and a draft Environmental Impression Assertion submitted for regulatory and public evaluation in October 2022 . Extra info is accessible within the technical report titled ” NI 43-101 Technical Report on the Wheeler River Challenge Athabasca Basin, Saskatchewan, Canada ” dated August 8, 2023 with an efficient date of June 23, 2023 , a replica of which is accessible on Denison’s web site and beneath its profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.shtml
About Denison
Denison is a uranium mining, exploration and growth firm with pursuits targeted within the Athabasca Basin area of northern Saskatchewan, Canada . Along with Denison’s efficient 95% curiosity in its flagship Wheeler River Uranium Challenge, Denison’s pursuits in Saskatchewan additionally embrace a 22.5% possession curiosity within the McClean Lake Joint Enterprise (“MLJV”), which incorporates unmined uranium deposits (deliberate for extraction by way of the MLJV’s SABRE mining methodology beginning in 2025) and the McClean Lake uranium mill (at present using a portion of its licensed capability to course of the ore from the Cigar Lake mine beneath a toll milling settlement), plus a 25.17% curiosity within the MWJV’s Midwest Essential and Midwest A deposits, and a 69.35% curiosity within the Tthe Heldeth Túé (“THT”) and Huskie deposits on the Waterbury Lake Property. The Midwest Essential, Midwest A, THT and Huskie deposits are positioned inside 20 kilometres of the McClean Lake mill. Taken collectively, Denison has direct possession pursuits in properties masking ~384,000 hectares within the Athabasca Basin area.
Moreover, by way of its 50% possession of JCU, Denison holds further pursuits in varied uranium challenge joint ventures in Canada , together with the Millennium challenge (JCU, 30.099%), the Kiggavik challenge (JCU, 33.8118%), and Christie Lake (JCU, 34.4508%).
In 2024, Denison is celebrating its seventieth 12 months in uranium mining, exploration, and growth, which started in 1954 with Denison’s first acquisition of mining claims within the Elliot Lake area of northern Ontario.
Cautionary Assertion Relating to Ahead-Trying Statements
Sure info contained on this information launch constitutes ‘forward-looking info’, throughout the that means of the relevant United States and Canadian laws, regarding the enterprise, operations and monetary efficiency and situation of Denison. Typically, these forward-looking statements may be recognized by means of forward-looking terminology equivalent to ‘potential’, ‘plans’, ‘expects’, ‘price range’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, or ‘believes’, or the negatives and/or variations of such phrases and phrases, or state that sure actions, occasions or outcomes ‘might’, ‘may’, ‘would’, ‘would possibly’ or ‘will ‘ ‘ be taken’, ‘happen’ or ‘be achieved’.
Particularly, this information launch comprises forward-looking info pertaining to Denison’s present intentions and aims with respect to, and commitments set forth in, the MBA and CBA ; the outcomes of, and estimates, assumptions and projections supplied in, the technical report for Wheeler River and the interpretations and expectations with respect thereto; growth and growth plans and aims for the Challenge; and expectations relating to its three way partnership possession pursuits and the continuity of its agreements with its companions and third events .
Ahead trying statements are primarily based on the opinions and estimates of administration as of the date such statements are made, and they’re topic to identified and unknown dangers, uncertainties and different components that will trigger the precise outcomes, stage of exercise, efficiency or achievements of Denison to be materially totally different from these expressed or implied by such forward-looking statements. For instance, the modelling and assumptions upon which the plans for Midwest are primarily based will not be maintained after additional work is accomplished. As well as, Denison might determine or in any other case be required to discontinue testing, analysis and different work whether it is unable to keep up or in any other case safe the required sources (equivalent to testing amenities, capital funding, three way partnership app r ovals, regulatory approvals, and so on.). Denison believes that the expectations mirrored on this forward-looking info are affordable however no assurance may be provided that these expectations will show to be correct and outcomes might differ materially from these anticipated on this forward-looking info. For a dialogue in respect of dangers and different components that would affect forward-looking occasions, please seek advice from the components mentioned in Denison’s Annual Info Type dated March 2 8 , 202 4 or subsequent quarterly monetary studies beneath the heading ‘Threat Elements’. These components are usually not, and shouldn’t be construed as being , exhaustive.
Accordingly, readers mustn’t place undue reliance on forward-looking statements. The forward-looking info contained on this information launch is expressly certified by this cautionary assertion. Any forward-looking info and the assumptions made with respect thereto speaks solely as of the date of this information launch. Denison doesn’t undertake any obligation to publicly replace or revise any forward-looking info after the date of this information launch to adapt such info to precise outcomes or to modifications in Denison’s expectations besides as in any other case required by relevant laws
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SOURCE Denison Mines Corp.
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