Denison Mines Corp 6-K, filed Jul 12, 2024
Denison Mines Corp. (DNN)
6-K
2024-07-12
For: 2024-07-12
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Added on
April 07, 2026
About this 6-K
Denison Mines Corp filed this 6-K on July 12, 2024.
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
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Date: July 12, 2024
Commission File Number: 001-33414
Denison Mines Corp.
(Name of
registrant)
1100-40 University Avenue
Toronto Ontario
M5J 1T1 Canada
(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 ☒
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/ Amanda Willett
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Date: July
12, 2024
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Amanda
Willett
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Vice
President Legal and Corporate Secretary
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FORM 6-K
EXHIBIT INDEX
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Exhibit Number
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Description
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99.1
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Press release dated July 11,
2024 |
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Exhibit 99.1
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Denison Mines
Corp.
1100 – 40
University Ave
Toronto, ON M5J
1T1
www.denisonmines.com
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PRESS
RELEASE
Denison Announces Signing of Wheeler River Benefit
Agreements with Kineepik Métis
Local #9 and the Village of Pinehouse Lake
Toronto, ON – July 11,
2024. Denison Mines Corp. (“Denison” or the
“Company”) (TSX: DML; NYSE American: DNN) is honoured
to announce the signing of a Mutual Benefits Agreement
(“MBA”) with Kineepik Métis Local
#9 (“KML”), and a
Community Benefit Agreement (“CBA”) with the
Northern Village of
Pinehouse Lake (the
“Village”), in support of the development and operation
of Denison’s 95%-owned Wheeler River Project in northern
Saskatchewan (the “Project”).
KML
represents the Métis members who live and practice traditional
activities in the vicinity of the Wheeler River Project and the
Métis residents of the Village, which is situated
approximately 270 km south from the Project along provincial
highway 914 and represents the closest municipality to the
Project.
Executive Director of KML, Billie Jo Natomagan,
remarked that “On behalf
of KML, I am honored to announce the signing of our MBA with
Denison Mines. This represents a significant step forward in our
ongoing efforts to secure sustainable economic development while
protecting and promoting our culture, language, traditions, and
rights. Through this agreement we will continue to engage with
Denison Mines to monitor and evaluate the outcomes of this
partnership, ensuring that our goals of economic development,
environmental stewardship, and social well-being are
met.
We appreciate the commitment shown by Denison Mines in recognizing
and valuing our unique relationship with the land and resources in
the Project area. This agreement signifies hope and opportunity for
our community and for future generations.
I would
like to extend thanks to everyone involved in the negotiation
process, including our negotiation team, our elders, land users,
and advisors. Your dedication and hard work have been instrumental
in achieving this milestone.”
Mayor of the Village of Pinehouse, Mike Natomagan,
stated, “We are
excited to share that we have been able to reach an agreement with
Denison regarding the advancement of the Wheeler River project.
This is a significant milestone for our community. Leaning on the
experience and lessons learned from our previous agreement we were
able to negotiate a truly meaningful agreement.
This
agreement is not just a document, but a testament to the strength
and resilience of our community, and our commitment to sustainable
community development. This partnership will bring more
opportunities for employment, training and community development
that will benefit our people and our future. This is a significant
moment for our community and gives us hope for a brighter future.
Thank you to our elders, community, and negotiations team for
supporting us through this process. Tiniki.”
David Cates, President & CEO of Denison,
commented, “The signing
of these agreements represents another significant and important
milestone for Denison and the Wheeler River project. Following the
signing of a Memorandum of Understanding amongst Denison, KML, and
the Village in 2017, where each party expressed a mutual interest
in supporting the advancement of the Project, our team has focused
its extensive engagement efforts towards building a lasting and
authentic relationship of trust and mutual
respect.
KML and the Village have welcomed Denison staff into Pinehouse on
multiple notable occasions over the last several years and we have
gained a unique first-hand appreciation for the Métis and
non-Métis perspectives and values of the
community.
As such, it is particularly rewarding for us to have earned the
support and consent for the advancement of the Project from both
KML and the Village. Thank you to all from KML and the Village that
have contributed to the growth of our relationship and ultimately
the completion of these agreements.”
The MBA acknowledges that the Project is located
within KML’s Land and Occupancy Area and provides Denison
with KML’s consent and support to advance the Project.
Additionally, the MBA outlines a
shared recognition that the successful advancement of the Project
can support KML to advance their aspirations for the successful
social and economic development of KML, while also mitigating the
risk of impacts on the local environment and KML
members.
Amongst
other key commitments, the MBA provides KML and its Métis
members an important role in environmental monitoring and commits
to the sharing of benefits from the successful operation of the
project – including benefits from community investment,
business opportunities, employment and training opportunities, and
financial compensation. Overall, the MBA describes a jointly held
vision for the future that reflects a mutual commitment to maintain
an open, respectful, and cooperative relationship between Denison
and KML. Importantly, the MBA defines the characteristics of the
positive legacy that will be associated with the sustainable
development of the Project.
The
CBA acknowledges that the Village is the closest residential
community to the Project by road, which relies on much of the same
regional infrastructure that Denison will rely as it advances the
Project. Pursuant to the terms of the CBA, the Village has provided
Denison with their consent and support for the Project.
Denison’s commitments in the CBA are intended to help the
Village develop its own capacity to take advantage of economic and
other development opportunities in connection with the advancement
and operation of the Project. The commitments in the CBA aim to
create a long-lasting positive legacy that continues beyond the
lifespan of the Project.
About KML & the Village
KML peoples are considered Woodland Cree, Woodland Dene, and
Woodland Métis, although historical documents indicate that
members of KML came from a diverse range of Métis, First
Nations, and other backgrounds.
The Village is located within the land and occupancy area of the
Indigenous people of KML. The lands surrounding Missinippi
(Churchill River) watershed have been used for gathering food,
shelter, and material supplies since time immemorial.
KML and the Village residents routinely enjoy significant
employment and business opportunities for projects that occur in
KML territory, because of their combined and collaborative efforts.
Great pride is taken in the work ethic of KML and the Village, and
through combined efforts with community owned businesses, recent
profits have been used to build increased energy efficient housing,
youth infrastructure such as a local hockey arena, and a 12-unit
Elders housing facility.
About Wheeler River
Wheeler River is the largest undeveloped uranium project in the
infrastructure-rich eastern portion of the Athabasca Basin region,
in northern Saskatchewan. The project is host to the high-grade
Phoenix and Gryphon uranium deposits, discovered by Denison in 2008
and 2014, respectively, and is a joint venture between Denison (90%
and operator) and JCU (Canada) Exploration Company Limited
(“JCU”, 10%). In August 2023, Denison filed a technical
report summarizing the results of (i) the feasibility study
completed for In-Situ Recovery (“ISR”) mining of the
high-grade Phoenix uranium deposit and (ii) a cost update to the
2018 Pre-Feasibility Study for conventional underground mining of
the basement-hosted Gryphon uranium deposit. Based on the
respective studies, both deposits have the potential to be
competitive with the lowest cost uranium mining operations in the
world. Permitting efforts for the planned Phoenix ISR operation
commenced in 2019 and have advanced significantly, with licensing
in progress and a draft Environmental Impact Statement submitted
for regulatory and public review in October 2022.
More information is available in the technical report titled
“NI 43-101 Technical Report on the Wheeler River Project
Athabasca Basin, Saskatchewan, Canada” dated August 8, 2023
with an effective date of June 23, 2023, a copy of which is
available on Denison's website and under its profile on SEDAR+ at
www.sedarplus.ca and on EDGAR at
www.sec.gov/edgar.shtml
About Denison
Denison is a uranium mining, exploration and development company
with interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. In addition to Denison’s effective 95%
interest in its flagship Wheeler River Uranium Project, Denison's
interests in Saskatchewan also include a 22.5% ownership interest
in the McClean Lake Joint Venture (“MLJV”), which
includes unmined uranium deposits (planned for extraction via the
MLJV's SABRE mining method starting in 2025) and the McClean Lake
uranium mill (currently utilizing a portion of its licensed
capacity to process the ore from the Cigar Lake mine under a toll
milling agreement), plus a 25.17% interest in the MWJV’s
Midwest Main and Midwest A deposits, and a 69.35% interest in the
Tthe Heldeth Túé (”THT”) and Huskie deposits
on the Waterbury Lake Property. The Midwest Main, Midwest A, THT
and Huskie deposits are located within 20 kilometres of the McClean
Lake mill. Taken together, Denison has direct ownership interests
in properties covering ~384,000 hectares in the Athabasca Basin
region.
Additionally, through its 50% ownership of JCU, Denison holds
additional interests in various uranium project joint ventures in
Canada, including the Millennium project (JCU, 30.099%), the
Kiggavik project (JCU, 33.8118%), and Christie Lake (JCU,
34.4508%).
In 2024, Denison is celebrating its 70th year in uranium mining,
exploration, and development, which began in 1954 with
Denison’s first acquisition of mining claims in the Elliot
Lake region of northern Ontario.
For more information, please contact
David
Cates (416) 979-1991 ext 362
President and
Chief Executive Officer
Billie Jo
Natomagan (306) 884-0001
Kineepik
Métis Local #9
Mike
Natomagan (306) 884-2030
Northern Village
of Pinehouse
Follow Denison on
X (formerly Twitter) @DenisonMinesCo
Cautionary Statement Regarding Forward-Looking
Statements
Certain information contained in this news release constitutes
‘forward-looking information’, within the meaning of
the applicable United States and 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
‘potential’, ‘plans’,
‘expects’, ‘budget’,
‘scheduled’, ‘estimates’,
‘forecasts’, ‘intends’,
‘anticipates’, or ‘believes’, or the
negatives and/or variations of such words and phrases, or state
that certain actions, events or results ‘may’,
‘could’, ‘would’, ‘might’ or
‘will’ ‘be taken’, ‘occur’ or
‘be achieved’.
In particular, this news release contains forward-looking
information pertaining to Denison's current intentions and
objectives with respect to, and commitments set forth in, the MBA
and CBA; the results of, and estimates, assumptions and projections
provided in, the technical report for Wheeler River and the
interpretations and expectations with respect thereto; development
and expansion plans and objectives for the Project; and
expectations regarding its joint venture ownership interests and
the continuity of its agreements with its partners and third
parties.
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. For
example, the modelling and assumptions upon which the plans for
Midwest are based may not be maintained after further work is
completed. In addition, Denison may decide or otherwise be required
to discontinue testing, evaluation and other work if it is unable
to maintain or otherwise secure the necessary resources (such as
testing facilities, capital funding, joint venture approvals,
regulatory approvals, etc.).
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 accurate and results
may differ materially from those anticipated in this
forward-looking information. For a discussion in respect of risks
and other factors that could influence forward-looking events,
please refer to the factors discussed in Denison’s Annual
Information Form dated March 28, 2024 or subsequent quarterly
financial reports under the heading ‘Risk Factors’.
These factors are not, and should not be construed as being,
exhaustive.
Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement. Any forward-looking information and the
assumptions made with respect thereto speaks only as of the date of
this news release. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the
date of this news release to conform such information to actual
results or to changes in Denison's expectations except as otherwise
required by applicable legislation.