Orano Canada and Denison Announce JV Approval to Restart McClean Lake Mining Operations

SASKATOON, Saskatchewan, Jan. 24, 2024 (GLOBE NEWSWIRE) — Orano Canada Inc. (“Orano Canada”), and Denison Mines Corp. (“Denison”) (TSX: DML, NYSE American: DNN), as joint-venture partners in the McClean Lake Joint Venture (“MLJV”), are pleased to announce that the MLJV has approved a restart of uranium mining operations using the joint venture’s patented Surface Access Borehole Resource Extraction (“SABRE”) mining method. Orano Canada owns a 77.5% interest and is the operator of the MLJV and Denison owns a 22.5% interest.

Mining is planned to commence at the McClean North deposit in 2025, with 2024 activities expected to focus on preparations necessary to ready the existing SABRE mining site and equipment for continuous commercial operations, as well as the installation of eight pilot holes for the first mining cavities planned for excavation. The approved budget for this work in 2024 is $7 million (100% basis).

Approximately 800,000 lbs U 3 O 8 […]

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