Name of the Project
Tthe Heldeth Túé (THT) in situ recovery (ISR) project.

Location
The project is located at the Waterbury Lake property, in the Athabasca basin region of northern Saskatchewan, in Canada.

Project Owner/s
Denison Mines.

Project Description
The results of an independent preliminary economic assessment (PEA) have demonstrated the potential for robust project economics at the THT deposit, highlighting the potential for ISR mining methods to be used to unlock considerable value in the THT deposit, despite its relatively small resource size.

In an ISR mining operation, a mining solution is injected into the ore zone through a series of injection wells, which dissolves the uranium as it travels through the ore zone, before the uranium-bearing solution is then pumped back to surface through a series of recovery wells.

Denison's plan for the project includes a 'freeze wall' design, adapted from the 'freeze dome' design outlined for the company’s Phoenix deposit in the Wheeler River prefeasibility study, which reduced capital costs.

THT is expected to produce 9.7-million pounds of uranium over an estimated six-year mine life, with final processing occurring at Denison's 22.5%-owned McClean Lake mill.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a base case pretax net present value, at an 8% discount rate, of $177-million and an internal rate of return of 39.1%, with a payback of about 22 months.

Capital Expenditure
$112-million.

Planned Start/End Date
The proposed project has an indicative timeline, with preproduction activities beginning in 2025 and first production expected in 2028.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Engcomp Engineering & Computing Professionals (PEA).

Contact Details for Project Information
Denison Mines, tel +1 416 979 1991 or email info@denisonmines.com.