Denison discovers high-grade uranium at McClean South

TORONTO - Denison Mines Corp. (TSX:DML) (NYSE American:DNN), currently trading at $2.14 with a market capitalization of $1.91 billion, announced Monday the discovery of several significant new intercepts of shallow high-grade uranium mineralization at the McClean South zone in northern Saskatchewan. The announcement comes as the company’s stock has shown strong momentum, gaining over 15% in the past week according to InvestingPro data.

The exploration drilling program, completed by Orano Canada Inc., the 77.5% owner and operator of the McClean Lake Joint Venture (MLJV), yielded multiple high-grade intersections at the 8C mineralized pod. Notable results include drill hole MCS-77 with 7.51% eU3O8 over 5.4 meters, MCS-80 with 3.5% eU3O8 over 11.2 meters, and MCS-84 with 1.72% eU3O8 over 20.6 meters.

The 6,400-meter program completed during the first half of 2025 found significant uranium mineralization in 14 of 24 drill holes, expanding the mineralized footprint of the 8C and 8W pods.

McClean South is located approximately 600 meters south of the McClean North deposit, where the joint venture recently began commercial mining using its patented SABRE mining method.

"We congratulate and thank Orano Canada for its efforts to successfully advance the delineation and expansion of the high-grade mineralization at McClean South," said David Cates, Denison’s President & CEO, in the press release statement.

The McClean Lake property is located on the eastern edge of the Athabasca Basin in northern Saskatchewan. Denison holds a 22.5% ownership interest in the MLJV and the McClean Lake uranium mill, which has a licensed annual production capacity of 24.0 million pounds U3O8. With a healthy current ratio of 3.21 and more cash than debt on its balance sheet, Denison maintains a strong financial position to support its operations.

The McClean South zone has been the subject of historic exploration drilling, resulting in the discovery and delineation of the 8W, 8C, and 8E pods. No current resource estimate exists for the mineralization identified to date at the McClean South pods. With analysts projecting 125% revenue growth for fiscal year 2025 and the company’s next earnings report due on August 7, investors can access detailed financial analysis and 16 additional key insights through InvestingPro’s comprehensive coverage.

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