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Keeps the bank happy

posted on Jan 09, 09 09:51AM
January 9, 2009
Denison Mines Corp. Satisfies Bank Production Covenant
TORONTO, ONTARIO--(Marketwire - Jan. 9, 2009) - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE Alternext US:DNN) announced today that it has satisfied the covenant outlined in its credit facility with the Bank of Nova Scotia relating to uranium production in 2008. Uranium production for the year totaled 1,635,000 pounds U3O8, with production from the McClean Lake joint venture being approximately 3,250,000 pounds (Denison's share being approximately 731,000 pounds U3O8) and approximately 904,000 pounds U3O8 being produced at the White Mesa mill. The uranium production, combined with the approximately 1,218,000 pounds of vanadium produced at White Mesa, which under the bank covenant is equivalent to 243,700 pounds of uranium, well exceeds the minimum production level specified in the covenant of 1,700,000.

About Denison

Denison Mines Corp. is an 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.
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