Denison Mines Corp 6-K, filed Dec 31, 2020

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Denison Mines Corp. (DNN)

6-K 2020-12-31 For: 2020-12-31

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Added on April 07, 2026

DENISON MINES CORP.

/s/ Amanda Willett

Date: December 31, 2020

Amanda Willett

Vice President Legal and Corporate Secretary

Denison Mines Corp filed this 6-K on December 31, 2020.

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Exhibit Number		Description

99.1		Preliminary Economic Assessment for the Tthe Heldeth Tue (J Zone) Deposit, Waterbury Lake Property, Northern Saskatchewan, Canada with an effective date of October 30, 2020.
99.2		Consent of Qualified Person
99.3		Consent of Qualified Person
99.4		Consent of Qualified Person
99.5		Consent of Qualified Person
99.6		Consent of Qualified Person
99.7		Consent of Qualified Person
99.8		Consent of Qualified Person
99.9		Consent of Qualified Person
99.10		Consent of Qualified Person
99.11		Consent of Qualified Person
99.12		Press release dated December 30, 2020

TABLE OF CONTENTS		1

LIST OF FIGURES		10

LIST OF TABLES		13

1 SUMMARY		15

1.1	Executive Summary	15
1.2	Technical Summary	17
1.2.1	Property Description and Location	17
1.2.2	Ownership	17
1.2.3	Geology and Mineralization	17
1.2.4	Mineral Processing and Metallurgical Testing	19
1.2.5	Mineral Resource Estimates and Methodologies	20
1.2.5.1	Tthe Heldeth Túé	20
1.2.5.2	Huskie Deposit	21
1.2.6	Mineral Reserve Estimate	22
1.2.7	Mining Methods	22
1.2.8	Recovery Methods	24
1.2.9	Production Schedule	24
1.2.10	Project Infrastructure	25
1.2.11	Environmental Studies, Permitting, Social and Community Considerations	27
1.2.12	Capital and Operating Costs	27
1.2.13	Economic Analysis	28
1.2.14	Adjacent Properties	31
1.2.14.1	Roughrider Property	31
1.2.14.2	Midwest Property	32
1.2.15	Interpretation and Conclusions	33
1.2.16	Recommendations	33

2 INTRODUCTION		34

2.1	Denison Mines Corp.	34
2.2	Terms of Reference	35
2.3	Purpose of the Report	35
2.4	Sources of Information	35
2.5	Inspection on Property	36
2.6	Abbreviations and Definitions	37

3 RELIANCE ON OTHER EXPERTS		40

4 PROPERTY DESCRIPTION AND LOCATION		41

4.1	Location	41
4.2	Mineral Disposition and Tenure	41
4.3	Ownership	45
4.4	Nature and Extent of Title	45
4.5	Royalties, Agreements and Encumbrances	46
4.6	Environmental Liabilities	47
4.7	Other Significant Factors and Risks	47

5 ACCESSIBILTY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY		48

5.1	Access to Property	48
5.2	Climate	48
5.3	Local Resources and Infrastructure	48
5.4	Physiography	49

6 HISTORY		50

6.1	Prior Ownership	50
6.2	Discovery	53
6.2.1	Fission Energy Corp. 2007 - 2012	53
6.2.2	Denison Mines Corp. 2013 - Present	53
6.3	Historical Resource and Reserve Estimations	53
6.3.1	Tthe Heldeth Túé	53
6.3.2	Huskie	55

7 GEOLOGICAL SETTING		56

7.1	Regional Geology	56
7.1.1	Sub-Athabasca Crystalline Metamorphic Basement	57
7.1.2	Hudsonian Granites/pegmatites	60
7.1.3	Paleoweathering	65
7.1.4	Athabasca Group Sandstone	66
7.1.5	Quaternary Geology	67
7.1.6	Uranium Mineralization	69
7.2	Local Geology	70
7.2.1	Tthe Heldeth Túé	70
7.2.2	Huskie Deposit	71
7.2.3	Sub-Athabasca Crystalline Metamorphic Basement	71
7.2.4	Athabasca Group Sandstone	73
7.2.5	Quaternary Geology	73
7.3	Uranium Mineralization	73
7.3.1	Tthe Heldeth Túé	73
7.3.2	Huskie Deposit	76

8 DEPOSIT TYPES		79

8.1	Uranium Deposit Type	79
8.2	Host-Rock Alteration	80

9 EXPLORATION		84

9.1	Geological Mapping	84
9.2	Geophysical Surveys	84
9.3	Surface Geochemical Surveying	91

10 DRILLING		95

10.1	Type, Methodology, and Extent of Drilling	95
10.1.1	Tthe Heldeth Túé	95
10.1.2	Huskie	95
10.2	Drill Hole Collar Locations and Downhole Surveying	96
10.3	Radiometric Logging of Drill Holes	97
10.4	Drill Core Handling and Logging Procedures	99
10.4.1	Tthe Heldeth Túé	99
10.4.2	Huskie	100
10.5	Drill Core Sampling for Lithogeochemical Analyses	101
10.5.1	Historical	101
10.5.2	Tthe Heldeth Túé	101
10.5.2.1	Mineralized Sandstone and Basement	101
10.5.2.2	Non-mineralized Sandstone and Basement	102
10.5.3	Huskie	103
10.5.3.1	Mineralized Sandstone and Basement	103
10.5.3.2	Non-mineralized Sandstone and Basement	104
10.6	Drill Core Sampling for Spectral Clay Analyses	104
10.7	Drill Core Sampling for bulk density	105
10.7.1	Tthe Heldeth Túé	105
10.7.2	Huskie	105
10.8	Core Recovery and Use of Probe Data	106
10.8.1	Tthe Heldeth Túé	106
10.8.2	Huskie	106
10.9	Drilling Results	106
10.9.1	2006 Drilling	106
10.9.2	2007 Drilling	107
10.9.3	2008 Drilling	107
10.9.4	2009 Drilling	107
10.9.5	2010 Drilling	108
10.9.6	2011 Drilling	109
10.9.7	2012 Drilling	110

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10.9.8	2013 Drilling	111
10.9.9	2014 Drilling	119
10.9.10	2015 Drilling	119
10.9.11	2016 Drilling	119
10.9.12	2017 Drilling	119
10.9.13	2018 Drilling	122
10.9.14	2019 Drilling	126

11 SAMPLE PREPARATION, ANALYSIS AND SECURITY		128

11.1	Sample Preparation and Security	128
11.1.1	Tthe Heldeth Túé	128
11.1.2	Huskie	129
11.2	Laboratory Sample Preparation Procedures	130
11.2.1	Sample Receiving	130
11.2.2	Sample Sorting	130
11.2.3	Sample Preparation	131
11.3	Analytical Methods	132
11.3.1	Method: ICP1	132
11.3.2	Method Summary	132
11.3.3	Partial Digestion	132
11.3.3.1	Total Digestion	133
11.3.4	Method: ICP-MS	133
11.3.4.1	Method Summary	133
11.3.4.2	Partial Digestion	133
11.3.4.3	Total Digestion	133
11.3.5	Method: U₃O₈ wt% Assay (ICP-OES)	133
11.3.5.1	Method Summary	133
11.3.5.2	Aqua Regia Digestion	134
11.3.5.3	Instrument Analysis	134
11.3.6	Method: U₃O₈ wt% Assay (DNC)	134
11.3.7	Drill Core Bulk Density Analysis	134
11.3.8	Reflectance Clay Analyses	135
11.3.8.1	Tthe Heldeth Túé	135
11.3.8.2	Huskie	135

11.4	Quality Assurance and Quality Control	135
11.4.1	Sample Standards and Field Duplicates	136
11.4.1.1	Assay Sample Standards	136
11.4.1.2	Field Assay Duplicates	141
11.4.1.3	Blanks	143
11.4.2	Laboratory Internal Quality Assurance and Quality Control	144
11.4.3	External Laboratory Check Analysis	150

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11.4.4	Laboratory Security and Confidentiality	151
11.4.5	The Qualified Persons Opinion on the QA/QC Procedures	152

12 DATA VALIDATION		153

12.1	Tthe Heldeth Túé	153
12.2	Huskie	154
12.3	Opinion on Adequacy of Data	155

13 MINERAL PROCESSING AND METALLURGICAL TESTING		156

13.1	Historical testing	156
13.1.1	Tthe Heldeth Túé	156
13.1.1.1	Mineralogical Analysis	156
13.1.1.2	Acid Leaching Tests	157
13.1.1.2.1	Composite preparation	158
13.1.1.2.2	Leaching Test Methods	159
13.1.1.2.3	Leaching Test results	159
13.1.2	Huskie	160
13.2	Tthe Heldeth Túé PEA Metallurgical Testing	161
13.3	Leach Tests	161
13.4	Conclusions	162
13.5	Recommendations for Future Work	162

14 MINERAL RESOURCE ESTIMATES		163

14.1	Introduction	163
14.2	Tthe Heldeth Túé	163
14.2.1	Drill File Preparation	164
14.2.2	Resource Modelling and Wireframing	165
14.2.3	Composites	168
14.2.4	Grade Capping	168
14.2.5	Specific Gravity	168
14.2.6	Block Model Parameters	170
14.2.7	Grade Estimation	170
14.2.8	Model Validation	172
14.2.9	Block Model Classification	172
14.2.10	Mineral Resource Classification Parameters	173
14.2.11	Mineral Resource Statement	175
14.2.12	Disclosure	176
14.2.13	Previous Mineral Resource Estimates	176
14.3	Huskie Deposit	178
14.3.1	Geology Model	179
14.3.2	Available Database and Resource Estimation	180

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14.3.3	Density	181
14.3.4	Estimation Methodology and Parameters	181
14.3.5	SRK Audit Methodology and Findings	182
14.3.6	Audited Mineral Resource Statement	188

15	MINERAL RESERVE ESTIMATE	189

16	MINING METHODS	190

16.1	Summary	190
16.2	Estimated Resources Included in Mine Plan	190
16.2.1	Introduction	190
16.2.2	Summary	191
16.2.3	Mining Recovery	193
16.2.4	Cut-off Grade	193
16.2.5	Tthe Heldeth Túé Deposit	194
16.3	Mining Context	197
16.3.1	Tthe Heldeth Túé Deposit	197
16.4	Hydrogeology	198
16.4.1	Assessment of Mineralized Zone Permeability	199
16.5	Mine Geotechnical	202
16.6	Mining Methods	203
16.6.1	Wellfield	203
16.6.2	Freeze Wall	205
16.6.3	Freeze Design	206
16.6.4	Drilling Methodology	207
16.6.4.1	Drilling	207
16.6.4.2	Permeability Enhancement	207
16.6.4.3	Well Design	208
16.6.4.4	Freeze Holes	210
16.6.5	Mechanical Integrity Testing	210
16.6.6	Production	210
16.6.7	Wellfield Piping System	210
16.6.8	Header Houses	213
16.6.9	Wellfield Reagents, Electricity, and Other Consumables	213
16.6.10	Mining Equipment	213
16.6.11	Other Mining Methods Considered	214
16.6.12	Tthe Heldeth Túé Mine Model	214
16.7	Development and Production Schedule	215
16.7.1	Estimated Production Rates	215
16.7.2	Mine Development Sequence	218
16.7.2.1	Pre-development Phase	218

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16.7.2.2	Construction Phase	218
16.7.2.3	Operations Phase	219
16.7.3	Underground Mine Infrastructure	219
16.7.4	Definition Drilling	219
16.7.5	Underground Mine Dewatering	220

17 RECOVERY METHODS		221

17.1	Mineral Processing – McClean Lake	221
17.1.1	Tthe Heldeth Túé Processing at McClean Lake Mill	221
17.1.2	Transportation	221
17.1.3	Mill History & Flowsheet	221
17.1.4	Mill Current Configuration and General Process Description	223
17.1.5	Tailings Neutralization	225
17.1.6	Clarification	225
17.1.7	Solvent Extraction	225
17.1.8	McClean Lake TMF	225
17.2	Metallurgy and Mineral Processing – Tthe Heldeth Túé Mine Site	226
17.2.1	Lixiviant Characteristics	229
17.2.2	UBS Characteristics	232

18 PROJECT INFRASTRUCTURE		233

18.1	Summary	233
18.2	Access Road and Site Preparation	236
18.3	Camp	236
18.4	Operations Center	236
18.5	Fuel Storage and Dispensing	236
18.6	Propane Storage and Dispensing	237
18.7	Electrical Power	237
18.8	Back-up Electrical Power	237
18.9	Freezing Plant Surface Infrastructure	237
18.10	Water Supply	238
18.11	Water Management	238
18.12	Waste Management	238
18.13	ISR Wellfield Waste Rock Management	238
18.14	UBS Handling Infrastructure	238

19 URANIUM MARKET AND CONTRACTING		240

19.1	The Uranium Industry	240
19.2	Uranium Demand	242
19.3	Primary Uranium Supply	242
19.4	Secondary Uranium Supply	243

19.5	Uranium Prices	243
19.6	Competition	244
19.7	Contracting	245

20 ENVIRONMENTAL STUDIES, PERMITTING, SOCIAL AND COMMUNITY IMPACT		246

20.1	Environmental Assessment	246
20.1.1	Provincial Requirements	246
20.1.2	Federal Requirements	247
20.2	Licensing and Permitting	247
20.3	Assessment Schedule and Estimated Costs	248
20.4	Environmental Considerations	248
20.4.1	Environmental Baseline Studies	248
20.4.2	Water Management	249
20.4.3	Waste Rock and Precipitate	249
20.5	Corporate Social Responsibility Considerations	249

21 CAPITAL AND OPERATING COSTS		251

21.1	Capital Costs	251
21.1.1	Summary	251
21.1.2	Milestone Project Schedule	253
21.1.3	Estimate breakdown	254
21.2	Operating Costs	256
21.3	Decommissioning Costs	257
21.3.1	ISR Restoration	257
21.3.2	Site Infrastructure Removal	257

22 ECONOMIC ANALYSIS		258

22.1	Input and Assumptions	259
22.2	Canadian Royalties Applicable to Waterbury Lake	259
22.3	Canadian Income and Other Taxes Applicable to Waterbury Lake	260
22.4	McClean Lake Toll Milling Revenue Applicable to Waterbury Lake	260
22.5	Pre Tax Economic Analysis	261
22.5.1	Pre-tax Cash flow Model – Base Case	261
22.5.2	Pre-tax Indicative Economic Results – Base Case	263
22.5.3	Pre-tax Sensitivities – Base Case	264
22.5.1	Price Sensitivity – Low and High Cases	265
22.6	Post Tax Economic Analysis	266

23.2	Midwest Property	274

24	OTHER RELEVANT DATA AND INFORMATION	276

24.1	Risks	276
24.2	Opportunities	276

25	INTERPRETATION AND CONCLUSIONS	278

26	RECOMMENDATIONS	279

27	REFERENCES	280

28	CERTIFICATES OF QUALIFIED PERSONS	285

Figure 1-1: Tthe Heldeth Túé East Pod Projected Mine Production by Year	25
Figure 2-1: Location map of Denison’s Athabasca Basin properties (as of June 30, 2020)	34
Figure 4-1: General Location Map, Waterbury Lake Project	43
Figure 4-2: Location of Mineral Dispositions, Waterbury Lake Project	44
Figure 5-1: Local Resources and Infrastructure, Waterbury Lake Project	49
Figure 7-1: Location of the Athabasca Basin relative to the geology of the northwestern Canadian Shield (Jefferson, et al., 2007b)	58
Figure 7-2: Lithotectonic domains in northern Saskatchewan and Manitoba (Annesley et al., 2005)	59
Figure 7-3: Geological setting of the Athabasca Basin and unconformity type U occurrences, northern Saskatchewan and Alberta (Jefferson, et al., 2007c)	61
Figure 7-4: Lithotectonic geology of the eastern Athabasca region with locations of uranium deposits, including the Tthe Heldeth Túé deposit (circled in red)	62
Figure 7-5: Plan view at 280 masl (roughly at the unconformity) showing the modeled geology of the Tthe Heldeth Túé (J Zone) in relation to mineralization (Armitage & Nowicki, 2012)	70
Figure 7-6: Interpreted simplified geology section through the Tthe Heldeth Túé (J Zone) deposit looking east. Expected depths or depth ranges of units noted in brackets (Armitage & Nowicki, 2012)	75
Figure 7-7: Geology Plan Map Showing Drill Hole Traces and the Huskie Deposit Mineralized Wireframes	77
Figure 7-8: Cross section through the Huskie deposit with simplified geology	78
Figure 8-1: Geological elements of mono-metallic and poly-metallic unconformity-type uranium deposits ( (Jefferson, et al., 2007b); (Jefferson, et al., 2007c)	81
Figure 8-2: Egress versus ingress-style alteration zones for unconformity-type uranium deposits ( (Jefferson, et al., 2007b); (Jefferson, et al., 2007c); (Quirt, 2003))	82
Figure 9-1: Property scale view of MegaTEM airborne magnetics survey	88
Figure 9-2: Property scale view of ground grid and defined ground electromagnetic conductors, 2006 – 2020	89
Figure 9-3: Property scale view of DC-IP ground resistivity surveying coverage, 2006 – 2018	90
Figure 9-4: 2011 soil and lake sediment sampling locations	93
Figure 9-5: Murphy Lake hydro-radiometric survey area and contoured lake bottom radiometric results (from Fission Energy Corp, 2012)	94
Figure 10-1: Calibration curve for the NaI scintillation crystal in Mount Sopris probe SN 4146-4112	99
Figure 10-2: Tthe Heldeth Túé (J Zone) Summer 2012 drill holes (from Fission 2012 Assessment Report)	113
Figure 10-3: Plan view map showing the approximate Tthe Heldeth Túé (J Zone) deposit outline and unconformity drill hole pierce points (from Fission 2013)	118

Figure 11-1: Results for analyses of 2013 certified high grade reference samples, Tthe Heldeth Túé	137
Figure 11-2: Results for analyses of 2013 certified medium grade reference samples, Tthe Heldeth Túé	137
Figure 11-3: Results for analyses of 2013 certified low grade reference samples, Tthe Heldeth Túé	138
Figure 11-4: Analytical Results for Control Sample USTD1 for Huskie Assays	139
Figure 11-5: Analytical Results for Control Sample USTD2 for All Huskie Assays	139
Figure 11-6: Analytical Results for Control Sample USTD3 for Huskie Assays	140
Figure 11-7: Analytical Results for Control Sample USTD4 for All Huskie Assays	140
Figure 11-8: Analytical Results for Control Sample USTD6 for Huskie	141
Figure 11-9: Results for original samples versus their field duplicate plotted on a log scale base 10 for Tthe Heldeth Túé	142
Figure 11-10: Analytical Results for Field Duplicate Samples for Huskie	142
Figure 11-11: Results of the 2013 blank reference samples for U₃O₈, Tthe Heldeth Túé	143
Figure 11-12: Results of the BL2A reference samples, Tthe Heldeth Túé	145
Figure 11-13: Results of the BL3 reference samples, Tthe Heldeth Túé	146
Figure 11-14: Results of the BL4A reference samples, Tthe Heldeth Túé	146
Figure 11-15: Results of the BL5 reference samples, Tthe Heldeth Túé	147
Figure 11-16: Analytical Results for Control Sample BL4a for Huskie	148
Figure 11-17: Analytical Results for Control Sample BL5 for Huskie	148
Figure 11-18: Analytical Results for Control Sample SRCU02 for Huskie	149
Figure 11-19: Analytical Results for Blank Control Sample for Huskie	149
Figure 11-20: Analytical Results for the Pulp Duplicates Versus the Original Assay Samples for Huskie	150
Figure 11-21: Analytical Results DNC Versus ICP-OES Assay Values for Huskie	151
Figure 14-1: Isometric view looking northwest shows the revised Tthe Heldeth Túé (J Zone) resource model (red solid), 2013 drill hole locations (A) and drill hole locations of all holes used to define the Tthe Heldeth Túé (J Zone) (B)	167
Figure 14-2: Scatter Plot Showing the Relationship between U₃O₈ and Specific Gravity (waxed core) for samples from the Tthe Heldeth Túé	170
Figure 14-3: Isometric view looking northwest shows the Tthe Heldeth Túé (J Zone) resource block model, resource model, drill holes and search ellipse	171
Figure 14-4: Isometric view looking northwest shows the Tthe Heldeth Túé uranium resource blocks	173
Figure 14-5: Composite Long Section of Huskie 1, Huskie 2 and Huskie 3 Zones Looking South	180
Figure 14-6: Gryphon and Huskie Deposits Grade (%U₃O₈) and Density (SGwax – g/cm3) Regression Curves	181
Figure 14-7: Probability Plot and Capping Sensitivity Curve for Huskie lens 2	184

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Figure 14-8: Sensitivity of Percentage Difference in Contained Pounds of U₃O₈to Estimation Parameters	186
Figure 14-9: Swathplot Comparing U₃O₈Grades from Estimated Models for Huskie lens 2, Oriented Down Dip. Histogram represents model tonnage	187
Figure 16-1: Isometric view showing the Tthe Heldeth Túé East and West pods	192
Figure 16-2: Conceptual 5-Spot ISR Wellfield Design	204
Figure 16-3: Tthe Heldeth Túé (J Zone) Wellfield and Freeze Wall Plan View at Surface	205
Figure 16-4: Plan View of Tthe Heldeth Túé Freeze Wall and ISR Wells at Ore Level	206
Figure 16-5: Typical Recovery Well Design	209
Figure 16-6: Tthe Heldeth Túé (J Zone) Plan View Showing Wellfield, Header Houses, and Well Lines	212
Figure 16-7: Conceptual 3D ISR Mine Model of Tthe Heldeth Túé. Views include: (a) long section looking north, (b) oblique view looking northwest	215
Figure 16-8: Tthe Heldeth Túé East Pod Production by Year (100% basis)	217
Figure 16-9: Tthe Heldeth Túé ISR Development Milestone Schedule	218
Figure 17-1: Mill Process Overview (courtesy of Orano McClean Lake)	223
Figure 17-2: Location of Nearby Local Deposits	228
Figure 17-3: Summary of Roughrider Metallurgical Test Work	231
Figure 18-1: Tthe Heldeth Túé Project Site Showing McClean Lake and Key Infrastructure	234
Figure 18-2: Tthe Heldeth Túé Project Site Layout	235
Figure 22-1: NPV (8%) Sensitivity – Pre Tax Base Case	265
Figure 22-2: NPV (8%) Sensitivity – Post Tax Base Case	269

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Table 1-1: Waterbury Lake Property Mineral Resource Estimate Summary with an effective date of October 17, 2018	16
Table 1-2: Mineral Resource Estimate at various cut-off grades for the Tthe Heldeth Túé, dated September 6, 2013 (Armitage & Sexton, 2013)	21
Table 1-3: Audited Mineral Resource Statement*, Huskie Deposit, Waterbury Lake Uranium Project, Saskatchewan, SRK Consulting (Canada) Inc., October 17, 2018	21
Table 1-4: Tthe Heldeth Túé East Pod Projected Mine Production (0% Grade cut-off)	23
Table 1-5: Tthe Heldeth Túé East Pod Deposit Projected Mine Production	25
Table 1-6: Tthe Heldeth Túé (J Zone) Projected Production Figures/ Base Case Revenue	29
Table 1-7: Economic Evaluation Summary	30
Table 1-8: Audited Mineral Resource Statement for Midwest Uranium Project, Saskatchewan, SRK Consulting (Canada) Inc., March 9, 2018	32
Table 4-1: Waterbury Lake Project – Land Status Summary	42
Table 6-1: Historical work summary on the Waterbury Lake property	50
Table 6-2: Review of the 2012 resource estimate	55
Table 7-1: Summary of basement lithologies, East and Central Athabasca Basin	63
Table 7-2: Comparison of deformational events in the Wollaston Domain (Harvey & Bethune, 2007)	64
Table 7-3: Stratigraphy of the Athabasca Basin	68
Table 10-1: Tthe Heldeth Túé Winter 2013 Assay Results (>0.05% U₃O₈ cut-off), (Armitage & Sexton, 2013)	115
Table 10-2: Drill hole parameters for drill holes WAT17-443 to WAT17-451	122
Table 10-3: Summary of Highlights from the 2017 and 2018 Drilling at Huskie	124
Table 10-4: Summary of 2018 diamond drill hole parameters	125
Table 11-1: Certified assay values of U₃O₈for the LG, MG and HG reference samples used for the Tthe Heldeth Túé drilling	136
Table 11-2: Quality Control Sample Allocations	144
Table 13-1: Summary of composite sample features	158
Table 13-2: Assays for uranium, gold and other constituents for the five studied composites used for leaching tests	158
Table 13-3: Summary of uranium leach test results. Results are provided for extraction times at which maximum extraction rates were achieved	160
Table 13-4: Acid Concentration Effect on Uranium Recovery	161
Table 14-1: Summary of the drill hole data used in the resource modeling	165
Table 14-2: Summary of all drill hole U₃O₈data from the Tthe Heldeth Túé drilling	165
Table 14-3: Summary of the drill hole composite data from within the Tthe Heldeth Túé resource model	168
Table 14-4: Block model geometry and search ellipse orientation	172
Table 14-5: Mineral Resource Estimate for the Tthe Heldeth Túé, September 6, 2013	175

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Table 14-6: Review of the 2012 Resource Estimate	178
Table 14-7: Huskie Deposit Block Model Parameters	182
Table 14-8: Huskie Deposit Block Model Interpolation Parameters	182
Table 14-9: Assay Statistics	184
Table 14-10: Statistics for Composites and Capped Composites	185
Table 14-11: Description of Estimation Sensitivity Cases	186
Table 14-12: Audited Mineral Resource Statement*, Huskie Deposit, Waterbury Lake Uranium Project, Saskatchewan, SRK Consulting (Canada) Inc., October 17, 2018	188
Table 16-1: Tthe Heldeth Túé East Pod Projected mine Production	193
Table 16-2: Number of Permeameter Tests for the Tthe Heldeth Túé Deposit (East Pod)	200
Table 16-3: Summary of Permeameter Test Results by Lithologic Groups for the Tthe Heldeth Túé Deposit. (All values are hydraulic conductivity (K) in m/s)	201
Table 16-4: Tthe Heldeth Túé East Pod Deposit Header House and Well Inventory by Unit	213
Table 16-5: Tthe Heldeth Túé East Pod Deposit Wellfield Operating Assumptions	216
Table 16-6: Tthe Heldeth Túé East Pod Deposit Overall Production	217
Table 17-1: Ore Characteristics of Local Deposits	227
Table 17-2: Tthe Heldeth Túé Composite Leach Tests	232
Table 21-1: Capital Cost Summary (000’s)	253
Table 21-2: Milestone Project Schedule	254
Table 21-3: Capital Cost Breakdown	255
Table 21-4: Operating Cost Summary	256
Table 22-1: Tthe Heldeth Túé Project Pre-Tax Base Case Annual Cash Flow Model	262
Table 22-2: NPV (8%) Sensitivity – Pre-Tax Base Case	264
Table 22-3: Pre-tax Economic Results Summary – Low, Base and High Case	265
Table 22-4: Base Case Cash Flow Model – Pre Tax vs Post Tax Comparison	268
Table 22-5: NPV (8%) Sensitivity – Post-Tax Base Case	269
Table 22-6: Post-tax Economic Results Summary – Low, Base and High Case	270
Table 22-7: Low Case Cash Flow Model – Pre Tax vs Post Tax Comparison	271
Table 22-8: High Case Cash Flow Model – Pre Tax vs Post Tax Comparison	272
Table 23-1: Midwest mineral resource summary	275

	PEA for the Tthe Heldeth Túé Deposit, Waterbury Lake Property, Saskatchewan, Canada	Page 14

	PEA for the Tthe Heldeth Túé Deposit, Waterbury Lake Property, Saskatchewan, Canada	Page 15

Deposit	Category	Tonnage	Grade	Contained Metal
Deposit	Category	(kt)	(% U₃O₈)	(x1000 lbs. U₃O₈)
Tthe Heldeth Túé	Indicated	291	2.00	12,810
Huskie	Inferred	268	0.96	5,687

	PEA for the Tthe Heldeth Túé Deposit, Waterbury Lake Property, Saskatchewan, Canada	Page 16

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	PEA for the Tthe Heldeth Túé Deposit, Waterbury Lake Property, Saskatchewan, Canada	Page 18

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	PEA for the Tthe Heldeth Túé Deposit, Waterbury Lake Property, Saskatchewan, Canada	Page 20

Cut-off Grade (U₃O₈ %)	Tonnes	Specific Gravity	U₃O₈ (%)
Cut-off Grade (U₃O₈ %)	Tonnes	Specific Gravity	Grade	Lbs*
0.01 %	432,000	2.40	1.40	12,985,000
0.05 %	370,000	2.41	1.60	12,939,000
0.10 %	291,000	2.42	2.00	12,810,000
0.50 %	123,000	2.49	4.40	11,923,000
1.0 %	76,000	2.54	6.70	11,171,000
5.0 %	24,000	2.77	16.00	8,446,000
10 %	12,000	2.97	24.00	6,183,000
20 %	5,000	3.25	33.00	3,492,000

Category	Zone	Tonnage	Grade	Contained Metal
Category	Zone	(kt)	(%U₃O₈)	(x1000 lbs. U₃O₈)
Inferred	Huskie 1	81	0.34	612
	Huskie 2	178	1.28	5,047
	Huskie 3	8	0.15	27
Total Inferred		268	0.96	5,687
1. Mineral resources are not mineral reserves and have not demonstrated economic viability. All figures have been rounded to reflect the relative accuracy of the estimates. Reported at mineral resource cut-off grade of 0.10% U₃O₈