Denison discovers high-grade uranium mineralization at Gryphon

TORONTO - Denison Mines Corp. (TSX:DML) (NYSE American:DNN) has discovered additional high-grade uranium mineralization approximately 40 meters outside the previously defined area of the Gryphon uranium deposit in northern Saskatchewan, according to a press release issued Wednesday. The announcement comes as the company’s stock shows strong momentum, with InvestingPro data revealing an 11.46% return over the past week and impressive revenue growth of 72.75% in the last twelve months.

Drill hole WR-837AD2 intersected 2.3 meters at 1.69% eU3O8, including 0.5 meters at 5.48% eU3O8 in the down-plunge direction from the previously defined D1 lens. The area remains open for potential expansion.

The discovery was made during a delineation drill program conducted in the first half of 2025 at the Gryphon deposit, which is located about 3 kilometers northwest of Denison’s flagship Phoenix In-Situ Recovery uranium project on the company’s 95%-owned Wheeler River property.

"We are excited that drill hole WR-837AD2 encountered high-grade mineralization outside of the existing mineralized domain in an area that remains wide open for further expansion," said David Cates, Denison’s President and CEO.

The Gryphon deposit, discovered by Denison in 2014, contains indicated mineral resources of 61.9 million pounds U3O8 at an average grade of 1.7% U3O8, plus inferred mineral resources of 1.9 million pounds U3O8 at an average grade of 1.2% U3O8.

The 2025 delineation program completed approximately 12,500 meters of diamond drilling in seventeen drill holes, confirming the current geological interpretation of the deposit and supporting grade assumptions in the resource model.

According to a 2023 pre-feasibility study, potential development of Gryphon as an underground mining operation shows an estimated after-tax net present value of $864.2 million and internal rate of return of 37.6%, based on probable reserves of 49.7 million pounds U3O8 and a uranium selling price of $75 per pound.

The information in this article is based on a press release statement from Denison Mines.

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