Denison Mines to resume Wheeler River formal environmental assessment process

Denison Mines announced its decision to restart the formal environmental assessment, or EA, process for the 90% owned Wheeler River Uranium Project effective January 2021. The decision to resume the EA process marks the end of the temporary suspension announced in March amidst the social and economic disruption that emerged as a result of the COVID-19 pandemic. David Cates, Denison's president & CEO, commented, "In the coming days, formal notifications will be submitted to the Canadian Nuclear Safety Commission ('CNSC') and the Saskatchewan Ministry of Environment ('MOE')to restart the EA process. These notifications will inform the regulators of Denison's intention to resume various activities designed to meet the regulatory requirements for an Environmental Impact Statement ('EIS') supporting the advancement of Wheeler River as Canada's first In-Situ Recovery ('ISR') uranium mine. With over $29 million in cash on the balance sheet at the end of October, Denison is well funded to resume the Wheeler River EA process and is currently finalizing its plans for the resumption of the EA as part of the Company's 2021 budgeting process. A key milestone for the EA process in 2021 is expected to be the resumption of community engagement activities, adapted to reflect COVID-19 protocols and best practices, to facilitate information sharing with interested parties. Additionally, advancing the EA process will involve the completion of third-party technical studies and assessments, ahead of the preparation and submission of a draft EIS, which is currently targeted for early 2022."