Denison Mines signs benefit agreement with Athabasca communities

SASKATOON - Denison Mines Corp. (TSX:DML) (NYSE American:DNN) announced Monday the signing of the NuhenÉnÉ Benefit Agreement with the Ya’thi NÉnÉ Land and Resource Office (YNLR) and seven Athabasca Basin communities in northern Saskatchewan. The uranium developer, currently valued at $2.3 billion, has seen its shares surge over 61% in the past six months despite not being profitable over the last twelve months.

The agreement provides consent and support from the Athabasca Communities for the development and operation of Denison’s Wheeler River Project, Waterbury Lake Project, and its interests in the Midwest and McClean Lake projects.

The signatories include three First Nations - Hatchet Lake Denesułiné, Black Lake Denesułiné, and Fond du Lac Denesułiné - along with four northern municipalities: Stony Rapids, Uranium City, Wollaston Lake, and Camsell Portage.

The agreement acknowledges that Denison’s projects are located within the NuhenÉnÉ Traditional Land of the Athabasca DenesuÅ‚iné and establishes a framework for environmental oversight, with specific provisions for Woodland Caribou protection and surface water monitoring.

"The execution of the NuhenÉnÉ Benefit Agreement marks another significant milestone for Denison and the Wheeler River Project, which is in the final stages of the Federal approval process," said David Cates, President and CEO of Denison.

The agreement includes commitments for community investment, business opportunities, employment and training, and financial compensation for the Athabasca Communities.

Chief Bart Tsannie of Hatchet Lake DenesųłineÌ First Nation stated, "This agreement shows what we can achieve when we put our people and our land at the centre of every decision. We expect responsible development, and we expect real benefits for our communities."

The Wheeler River Project’s Phoenix deposit is currently undergoing Canadian Nuclear Safety Commission hearings for Federal approval of its environmental assessment and construction license, with hearings scheduled to conclude during the week of December 8, 2025.

According to the press release, the agreement establishes a jointly held vision that reflects mutual commitment to an open, respectful, and cooperative relationship between Denison and the Athabasca Communities. While Denison has seen a 10.34% return over the past week, InvestingPro identifies several challenges ahead, including weak gross profit margins and analysts’ expectations that net income will drop this year. InvestingPro offers 13 additional investment tips and detailed financial analysis for investors monitoring Denison’s progress toward production.

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