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: June 12, 2015
Commission File Number: 001-33414
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.
|
Form 20-F [ ] |
Form 40-F [X] |
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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): [ ]
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): [ ]
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/
Sheila Colman |
Date: June 12, 2015 |
Sheila Colman |
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General Counsel and Corporate Secretary
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EXHIBIT INDEX
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 |
PRESS RELEASE
DENISON MINES COMPLETES
CAD$15,000,000 BOUGHT DEAL
OFFERING
Toronto, ON May 26, 2015. Denison Mines Corp.
(Denison or the Company) (DML: TSX, DNN: NYSE MKT) is pleased to announce
that it has completed its previously announced private placement offering
(the "Offering") of common shares (the "Flow-Through Shares") issued on a
"flow-through" basis pursuant to the Income Tax Act (Canada).
At closing today, 12,000,000 Flow-Through Shares were issued
through a syndicate of underwriters at a price of CAD$1.25 per Flow-Through
Share, for aggregate gross proceeds to Denison of CAD$15,000,000. The
Flow-Through Shares are subject to a four-month hold period which will expire on
September 27, 2015.
The Company intends to use the proceeds of the Offering to
incur eligible "Canadian exploration expenses" (within the meaning of the
Income Tax Act (Canada)) relating to the Company's Canadian uranium
mining exploration projects. The Company has agreed to renounce such Canadian
exploration expenses with an effective date no later than December 31, 2015.
About Denison
Denison is a uranium exploration and development company with
interests in exploration and development projects in Canada, Zambia, Mali,
Namibia and Mongolia. Including its 60% owned Wheeler project, which hosts the
high grade Phoenix uranium deposit, Denison's exploration project portfolio
consists of numerous projects covering over 400,000 hectares in the eastern
Athabasca Basin region of Saskatchewan. Denison's interests in Saskatchewan also
include a 22.5% ownership interest in the McClean Lake joint venture, which
includes several uranium deposits and the McClean Lake uranium mill, which is
currently processing ore from the Cigar Lake mine under a toll milling
agreement, plus a 25.17% interest in the Midwest deposit and a 60% interest in
the J Zone deposit on the Waterbury Lake property. Both the Midwest and J Zone
deposits are located within 20 kilometres of the McClean Lake mill.
Internationally, Denison owns 100% of the conventional heap leach Mutanga
project in Zambia, 100% of the uranium/copper/silver Falea project in Mali, a
90% interest in the Dome project in Namibia, and an 85% interest in the in-situ
recovery projects held by the Gurvan Saihan joint venture in Mongolia.
Denison is also engaged in mine decommissioning and
environmental services through its Denison Environmental Services division and
is the manager of Uranium Participation Corp., a publicly traded company which
invests in uranium oxide and uranium hexafluoride.
Cautionary Statement Regarding Forward-looking Statements
Certain information contained in this press release constitutes
"forward-looking statements" and "forward-looking information", 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 (collectively referred to as
"forward-looking statements"). Generally, these forward-looking statements can
be identified by the use of forward-looking terminology such as "is expected",
"will", "intends", or variations of such words and phrases. In particular, this
press release contains forward-looking information pertaining to the Company's
intended use of proceeds and renunciation of Canadian exploration expenses, and
the hold period applicable to the Flow-Through Shares.
The forward-looking statements contained in this press release
are based on certain assumptions and estimates of management as of the date
hereof. Such assumptions and estimates include, among other things, those assumptions and estimates inherent in such
forward-looking statements as well as assumptions and estimates respecting: the
timely receipt of all regulatory and third party approvals for the Offering,
including those of the Toronto Stock Exchange and the NYSE MKT LLC; that Denison
will continue to conduct its business and operational activities in a manner
consistent with its current business and operations plans; and current and
future industry and market conditions, including with respect to commodity
prices and currency, exchange and interest rate fluctuations.
Denison believes that the assumptions and expectations
reflected in this forward-looking information are reasonable but no assurance
can be given that these assumptions and expectations will prove to be correct.
Forward-looking statements 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. These risks,
uncertainties and factors include, among other things: the Company may be unable
to obtain all necessary third-party and regulatory approvals within the timeline
and terms anticipated which may result in a delay or termination of the Offering
or in the closing of the Offering on terms not currently anticipated by Denison;
and the risks, uncertainties and factors discussed under the heading "Risk
Factors" in Denison's Annual Information Form dated March 5, 2015 available at
www.sedar.com http://www.sedar.com/, and in its Form 40-F available at
www.sec.gov/edgar.shtml http://www.sec.gov/edgar.shtml.
The forward-looking statements contained in this press release
speak only as of the date of this press release and readers should not place
undue reliance on such forward-looking statements. The forward-looking
statements contained in this press release are expressly qualified by this
cautionary statement. Denison does not undertake any obligation to publicly
update or revise any forward-looking statements after the date of this press
release to conform such statements to actual results or to changes in Denison's
expectations except as otherwise required by applicable legislation.
Denison Mines Corp.
David Cates
President and Chief
Executive Officer
(416) 979-1991 ext 362
Denison Mines Corp.
Sophia Shane
Investor Relations
(604) 689-7842
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein in the United
States. The securities described herein have not been and will not be registered
under the United States Securities Act of 1933, as amended, and may not be
offered, sold or resold in the United States.
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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 |
PRESS RELEASE
DENISON BEGINS SUMMER EXPLORATION PROGRAM
AND RECEIVES
ASSAYS FROM GRYPHON ZONE
Toronto, ON June 4, 2015
Denison Mines Corp.
(Denison or the Company) (DML: TSX, DNN: NYSE MKT) is pleased to report the
start of summer drilling in the Athabasca Basin in northern Saskatchewan. The
Company is also pleased to report the receipt of all uranium assay results from
its winter drilling program at Wheeler River. The assay results, including
7.9% U3O8 over 4.5 metres in WR-584B and 4.5%
U3O8 over 4.5 metres in WR-597, confirm the
previously released down-hole probe results at or in the vicinity of the Gryphon
zone. The Gryphon zone is located three kilometres northwest of the high-grade
Phoenix deposit.
David Cates, President and CEO of Denison, commented, We are
excited about the prospect of getting back into the field to complete the
additional drilling necessary to support an initial resource estimate for the
Gryphon zone, and to test a number of new high priority targets in the area,
including mineralization roughly 800 metres to the south of Gryphon at the
unconformity. Similarly, we are looking forward to continuing to explore several
of our other properties in the Basin, including Crawford Lake and Waterbury Lake
where we have a number of high priority targets.
Summer Exploration Begins
Summer drilling has begun on the Wheeler River property.
Wheeler River is the primary focus of the Companys summer program with 36
drill holes planned, totaling approximately 24,000 metres. Priorities at Wheeler
River continue to be the expansion of mineralization at and near the Gryphon
zone, the discovery of additional zones of mineralization in the vicinity of the
Gryphon zone, and the evaluation of other prospective target areas on the
property. The summer program is designed to build on the success of the winter
program and to complete the additional drilling required to support the
preparation of an initial estimate of mineral resources, at the main Gryphon
zone, before the end of the year.
In addition to the drilling program at Wheeler River, Denison
will complete approximately 10,000 metres of drilling on several other Denison
operated projects, including Bell Lake (100% Denison), Jasper Lake (100%
Denison), Stevenson River (100% Denison), Crawford Lake (100% Denison) and
Bachman Lake (100% Denison), Waterbury Lake (60% Denison) and Murphy Lake
(58.94% Denison).
Wheeler River Assay Results
Assays from all 26 drill holes completed during the winter
drilling program at Wheeler River have now been received. All of the drilling
was located in the general area of the Gryphon zone.
As reported previously, much of the drilling was focused on
expanding the Gryphon zone of basement hosted uranium mineralization with drill
holes that were completed on 50 metre centres. The zone was successfully
extended up-plunge, down-plunge, and up-dip on two sections. Consistent with the
down-hole probe data, the best assay result was in drill hole WR-584B, which
intersected 7.9% U3O8 over 4.5 metres in the
up-plunge direction at Gryphon.
Additionally, 14 drill holes were completed to explore for
additional zones of mineralization along strike to the south of Gryphon. This
resulted in the discovery of a new zone of uranium mineralization, occurring at
the unconformity, 800 metres to the south of the Gryphon zone. Mineralization in
this new zone straddles the unconformity, replacing the matrix of the basal
sandstone or filling fractures in the underlying pelitic strata. Assay results from this area are
encouraging, as drill hole WR-597 returned 4.5% U3O8 over 4.5 metres along with several other mineralized intervals. As WR-597
is the furthest hole completed to the south, the new zone is open in that
direction and will be followed up this summer.
The drill results from the Wheeler River winter program are
summarized in the table below. The attached figure shows the location of the
drill holes on an inclined longitudinal section. Wheeler River is located
between the McArthur River Mine and Key Lake mill complex in the Athabasca Basin
in northern Saskatchewan. Denison is the operator and holds a 60% interest in
the project. Cameco Corporation holds a 30% interest and JCU (Canada)
Exploration Company, Limited holds the remaining 10% interest.
2015 Year to Date Probe and Assay Comparison
Drill Hole |
Down-Hole Total Gamma Probe1
|
Assay |
|
From (m) |
To (m) |
Length (m) |
eU3O8
(%)2 |
From (m) |
To (m) |
Length (m) |
U3O8 (%) |
WR-571D23,5 |
512.6 |
517.9 |
5.3 |
3.2 |
512.0 |
517.5 |
5.5 |
3.9 |
and |
544.8 |
546.0 |
1.2 |
1.8 |
544.0 |
545.5 |
1.5 |
5.0 |
WR-574D13,5 |
473.0 |
475.0 |
2.0 |
1.3 |
471.5 |
472.5 |
1.0 |
1.0 |
and |
|
|
|
|
473.0 |
474.5 |
1.5 |
1.5 |
and |
510.4 |
511.4 |
1.0 |
7.5 |
510.0 |
511.0 |
1.0 |
8.1 |
and |
519.6 |
520.6 |
1.0 |
1.1 |
518.5 |
520.0 |
1.5 |
1.3 |
WR-577D14,5 |
664.5 |
666.6 |
2.1 |
0.3 |
665.0 |
667.0 |
2.0 |
0.2 |
and |
678.0 |
679.0 |
1.0 |
0.3 |
678.0 |
679.0 |
1.0 |
0.5 |
WR-5823 |
764.2 |
766.6 |
2.4 |
2.9 |
763.5 |
766.5 |
3.0 |
3.8 |
WR-5833 |
786.3 |
788.7 |
2.4 |
2.8 |
786.1 |
788.1 |
2.0 |
3.7 |
WR-584B3 |
641.6 |
646.2 |
4.6 |
9.0 |
641.6 |
646.1 |
4.5 |
7.9 |
WR-583D23,5 |
501.6 |
503.8 |
2.2 |
1.5 |
501.5 |
504.0 |
2.5 |
1.7 |
and |
|
|
|
|
507.5 |
508.5 |
1.0 |
1.1 |
and |
508.2 |
509.8 |
1.6 |
2.4 |
509.0 |
510.0 |
1.0 |
3.6 |
WR-5894 |
569.8 |
573.1 |
3.3 |
0.4 |
570.0 |
571.0 |
1.0 |
0.6 |
and |
584.0 |
585.9 |
1.9 |
0.2 |
584.1 |
586.1 |
2.0 |
0.3 |
WR-5904 |
559.6 |
561.3 |
1.7 |
0.1 |
561.0 |
562.0 |
1.0 |
0.1 |
and |
563.7 |
567.0 |
3.3 |
0.1 |
564.4 |
565.4 |
1.0 |
0.1 |
and |
|
|
|
|
565.9 |
567.4 |
1.5 |
0.2 |
and |
572.3 |
573.8 |
1.5 |
0.2 |
572.6 |
574.1 |
1.5 |
0.3 |
and |
579.1 |
581.7 |
2.6 |
0.3 |
579.7 |
582.2 |
2.5 |
0.3 |
WR-5914 |
586.3 |
587.3 |
1.0 |
0.2 |
585.9 |
586.9 |
1.0 |
0.5 |
WR-5924 |
585.4 |
587.2 |
1.8 |
0.5 |
585.5 |
587.0 |
1.5 |
0.4 |
WR-5934 |
492.9 |
494.2 |
1.3 |
0.3 |
493.0 |
495.0 |
2.0 |
0.2 |
WR-5954 |
525.0 |
526.2 |
1.2 |
1.0 |
526.2 |
527.7 |
1.5 |
0.5 |
and |
565.8 |
571.6 |
5.8 |
0.2 |
567.5 |
573.0 |
5.5 |
0.1 |
WR-5973 |
496.5 |
500.5 |
4.0 |
2.8 |
495.5 |
500.0 |
4.5 |
4.5 |
and |
586.9 |
587.9 |
1.0 |
1.6 |
586.5 |
587.5 |
1.0 |
1.8 |
WR-5984 |
583.3 |
584.3 |
1.0 |
0.4 |
583.3 |
584.3 |
1.0 |
0.5 |
WR-5994 |
593.1 |
594.1 |
1.0 |
0.2 |
592.8 |
593.8 |
1.0 |
0.3 |
|
Notes: |
1. Probe results were previously released
|
|
|
2. eU3O8 is radiometric
equivalent uranium from a total gamma down-hole probe |
|
|
3. Composited above a cutoff grade of 1.0%
eU3O8 |
|
|
4. Composited above a cutoff grade of 0.05%
eU3O8 |
|
|
5. Distances are measured from the wedge, not
from surface. |
As the drill holes are oriented steeply toward the northwest
and the basement mineralization dips moderately to the southeast, the true
thickness of the basement mineralization (all holes except WR-595 and WR-597) is
expected to be approximately 75% of the intersection lengths. As the
unconformity mineralization in WR-595 and WR-597 is likely to be horizontal, the
true thickness of it is expected to be approximately 90% of the intersection
lengths.
- 2 -
Qualified Person
The disclosure of a scientific or technical nature contained in
this news release was prepared by Steve Blower P.Geo., Denison's Vice President,
Exploration, who is a Qualified Person in accordance with the requirements of NI
43-101. For a description of the quality assurance program and quality control
measures applied by Denison, please see Denison's Annual Information Form dated
March 5, 2015 filed under the Company's profile on SEDAR at www.sedar.com.
About Denison
Denison is a uranium exploration and development company
with interests in exploration and development projects in Canada, Zambia, Mali,
Namibia and Mongolia. Including its 60% owned Wheeler project, which hosts the
high grade Phoenix uranium deposit, Denisons exploration project portfolio
consists of numerous projects covering over 400,000 hectares in the eastern
Athabasca Basin region of Saskatchewan. Denisons interests in Saskatchewan also
include a 22.5% ownership interest in the McClean Lake joint venture, which
includes several uranium deposits and the McClean Lake uranium mill, which is
currently processing ore from the Cigar Lake mine under a toll milling
agreement, plus a 25.17% interest in the Midwest deposit and a 60% interest in
the J Zone deposit on the Waterbury Lake property. Both the Midwest and J Zone
deposits are located within 20 kilometres of the McClean Lake mill.
Internationally, Denison owns 100% of the conventional heap leach Mutanga
project in Zambia, 100% of the uranium/copper/silver Falea project in Mali, a
90% interest in the Dome project in Namibia, and an 85% interest in the in-situ
recovery projects held by the Gurvan Saihan joint venture (GSJV) in Mongolia.
Denison is also engaged in mine decommissioning and
environmental services through its Denison Environmental Services division and
is the manager of Uranium Participation Corp., a publicly traded company which
invests in uranium oxide and uranium hexafluoride.
For more information, please contact |
|
David Cates |
(416) 979-1991 ext 362 |
President and Chief Executive Officer |
|
|
|
Sophia Shane |
(604) 689-7842 |
Investor Relations |
|
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
Certain information contained in this press release constitutes
forward-looking information", 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.
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", "be achieved" or
has the potential to.
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. Denison believes that the expectations reflected in
this forward-looking information are reasonable but no assurance can be given
that these expectations will prove to be correct and such forward-looking
information included in this press release should not be unduly relied upon.
This information speaks only as of the date of this press release. In
particular, this press release may contain forward-looking information
pertaining to the following: the likelihood of completing and benefits to be
derived from corporate transactions; the estimates of Denison's mineral reserves
and mineral resources; expectations regarding the toll milling of Cigar Lake
ores; capital expenditure programs, estimated exploration and development
expenditures and reclamation costs; expectations of market prices and costs;
supply and demand for uranium (U3O8); possible
impacts of litigation and regulatory actions on Denison; exploration,
development and expansion plans and objectives; expectations regarding
adding to its mineral reserves and resources through acquisitions and
exploration; and receipt of regulatory approvals, permits and licences under
governmental regulatory regimes.
There can be no assurance that such statements will prove to be
accurate, as Denison's actual results and future events could differ materially
from those anticipated in this forward-looking information as a result of the
factors discussed under the heading "Risk Factors" in Denisons Annual
Information Form dated March 5, 2015 available at www.sedar.com, and in its Form
40-F available at www.sec.gov/edgar.shtml.
- 3 -
Accordingly, readers should not place undue reliance on
forward-looking statements. These factors are not, and should not be construed
as being, exhaustive. Statements relating to "mineral reserves" or "mineral
resources" are deemed to be forward-looking information, as they involve the
implied assessment, based on certain estimates and assumptions that the mineral
reserves and mineral resources described can be profitably produced in the
future. The forward-looking information contained in this press release is
expressly qualified by this cautionary statement. Denison does not undertake any
obligation to publicly update or revise any forward-looking information after
the date of this press release to conform such information to actual results or
to changes in Denison's expectations except as otherwise required by applicable
legislation.
Cautionary Note to United States Investors Concerning
Estimates of Measured, Indicated and Inferred Mineral Resources: This press
release may use the terms measured, indicated and inferred mineral
resources. United States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States Securities
and Exchange Commission does not recognize them. Inferred mineral resources
have a great amount of uncertainty as to their existence, and as to their
economic and legal feasibility. It cannot be assumed that all or any part of an
inferred mineral resource will ever be upgraded to a higher category. Under
Canadian rules, estimates of inferred mineral resources may not form the basis
of feasibility or other economic studies. United States investors are
cautioned not to assume that all or any part of measured or indicated mineral
resources will ever be converted into mineral reserves. United States investors
are also cautioned not to assume that all or any part of an inferred mineral
resource exists, or is economically or legally mineable.
- 4 -
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