#DENISON MINES FISSION URANIUM PLUS#

Ron Hochstein, Executive Chairman of Denison, commented: 'The continued exploration success at our Phoenix deposit and Gryphon discovery, in combination with the discovery and exploration success of the world class Triple R deposit puts the combined company in an incredibly strong strategic position, with the most significant development portfolio in the world. Based on the 30 day volume weighted average price of Denison's shares on the TSX of CAD$0.99 as at July 3, 2015, the offer implies a price per Fission common share of CAD$1.25 and represents a premium of approximately 18% to the 30 day volume weighted average price of Fission's shares on the TSX of CAD$1.06 as at July 3, 2015. The market capitalization of Denison and Fission on a combined basis is anticipated to be approximately CAD$900 million. Upon completion of the Transaction, the combined company, to be named 'Denison Energy Corp.', will be approximately 50% owned by each of Denison's and Fission's existing shareholders on a fully-diluted in-the-money basis.

#DENISON MINES FISSION URANIUM PLUS#

Subject to the terms set out in the Binding Agreement, Fission common shareholders will receive 1.26 common shares of Denison for each common share of Fission held plus $0.0001 per share in cash. Headlining the asset portfolio of the combined company will be two world class uranium exploration and development projects: Fission's 100% owned Patterson Lake South Project, and Denison's 60% owned Wheeler River Project, both located in the prolific Athabasca Basin, in Northern Saskatchewan, Canada.

The Transaction creates a leading Canadian focused diversified uranium company - combining high quality assets and the management teams of two highly respected companies. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ('Fission') are pleased to announce the execution of a Binding Letter Agreement (the 'Binding Agreement') to combine their respective businesses (the 'Transaction'). (TSX:DML)(NYSE MKT:DNN) ('Denison') and Fission Uranium Corp. TORONTO, ONTARIO-(Marketwired - July 6, 2015) - Denison Mines Corp.

Denison mines fission uranium