Prnewswire·2025-12-17 11:30Core Viewpoint - Denison Mines Corp. has successfully closed a transaction with Skyharbour Resources Ltd., resulting in the formation of four joint ventures focused on uranium exploration adjacent to Denison's Wheeler River Project [1][2]. Group 1: Transaction Details - The transaction involves the establishment of four joint ventures, including claims from Skyharbour's Russell Lake Uranium Project, located next to Denison's Wheeler River Project [1][2]. - Denison will operate the Wheeler North and Wheeler River Inliers joint ventures, holding ownership interests of 49% and 70% respectively, while Skyharbour will operate the Russell Lake and Getty East joint ventures with Denison holding 20% and 30% interests respectively [2]. Group 2: Ownership and Options - Denison and Skyharbour have entered into Earn-In Option Agreements, allowing Denison to increase its ownership in the Wheeler North and Getty East joint ventures up to 70% [3]. - Denison holds a 95% effective interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the eastern portion of the Athabasca Basin [4]. Group 3: Project Developments - In mid-2023, Denison completed a feasibility study for the Phoenix deposit as an ISR mining operation and updated the Pre-Feasibility Study for the Gryphon deposit as a conventional underground mining operation, both showing potential to be competitive with the lowest cost uranium mining operations globally [5]. - Permitting for the Phoenix ISR operation began in 2019 and is nearing completion, with the project's Environmental Assessment approved in July 2025 and the Canadian Nuclear Safety Commission Public Hearing concluding in December 2025 [5]. Group 4: Additional Interests - Denison has a 22.5% ownership interest in the McClean Lake Joint Venture, which includes unmined uranium deposits and a uranium mill processing ore from the Cigar Lake mine [6]. - The company also holds interests in various uranium project joint ventures through its 50% ownership of JCU (Canada) Exploration Company, including the Millennium, Kiggavik, and Christie Lake projects [7]. Group 5: Skyharbour Overview - Skyharbour holds a portfolio of uranium exploration projects in the Athabasca Basin, covering over 616,000 hectares, and has acquired a 100% interest in the Moore Uranium Project, located near Denison's Wheeler River project [9]. - The Russell Lake Uranium Project, adjacent to the Moore Project, hosts widespread uranium mineralization with exploration potential [9].