Denison Mines Announces C$65 Million "Bought Deal" Financing (ccnm)

TORONTO, ONTARIO--(Marketwire - Feb. 23, 2011) -

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Denison Mines Corp. (TSX:DML)(NYSE Amex:DNN) ("Denison") is pleased to announce that it has entered into an agreement with a syndicate of investment dealers co-led by GMP Securities L.P. Cormark Securities Inc. and Scotia Capital Inc. and including Dundee Securities Ltd. and Raymond James Ltd. (the "Underwriters"), which have agreed to purchase, on a bought deal basis, 18.3 million common shares of Denison at a purchase price of C$3.55 per common share (the "Offering Price"), for aggregate gross proceeds in the amount of C$64,965,000. The offering will be made by way of a short form prospectus to be filed by Denison in each of the provinces of Canada other than Quebec.

The offering is scheduled to close on or about March 15, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the NYSE Amex LLC and the securities regulatory authorities.

In accordance with an existing agreement between the Company and its largest shareholder, Korea Electric Power Corporation ("KEPCO"), KEPCO is entitled (but not required) to subscribe for additional common shares of the Company in a separate private placement transaction in order to maintain its existing 15.83% shareholding level. KEPCO will be entitled to subscribe for approximately 3.4 million common shares at the subscription price of C$3.55 per share.