Denison Awarded Care and Maintenance Contract at the Faro Mine Complex, Yukon

Denison Awarded Care and Maintenance Contract at the Faro Mine Complex, Yukon

Tuesday, August 5th 2008

Denison Mines Corp. announced that Denison Environmental Services (“DES”), a division of Denison Mines Inc., a wholly owned subsidiary of the Company, has been awarded a contract for care and maintenance at the Faro Mine Complex in the Yukon.

The three year, $7.2 million per annum contract has been awarded following a six-month competitive public tender process overseen by the Government of Yukon. DES will provide care and maintenance services at the Faro Mine Complex, including: the ongoing collection and treatment of contaminated water, the management of uncontaminated runoff; the inspection and maintenance of dams and diversion channels; the monitoring of water quality; general maintenance and site security.

The contract also includes provisions for training and employment opportunities for affected Yukon First Nations and Yukoners.

“The award of this contract is an important recognition of the technical expertise and experience of Denison Environmental Services and expands the reach of our rehabilitation efforts across the country,” stated Ian Ludgate, Manager, DES.

Faro was an open-pit lead-zinc mine that closed in 1998. The Government of Canada and the Government of Yukon are taking a collaborative approach to management of the Faro mine remediation project, including planning for final closure and remediation.

DES will take over the care and maintenance responsibilities in March 2009, after a transition period with the court appointed Interim Receiver for the Anvil Range Mining Corporation (Deloitte and Touche Inc.) who have managed the care and maintenance at the site since 1998.

DES was formed to assist the mining industry and governments with the final stages of the mining cycle. Its goal is to lead the industry in cost effective decommissioning solutions to mine closure issues, focusing on infrastructure, tailings rehabilitation, sale of mine assets and especially long term-care and maintenance of closed sites. DES is an ISO 9001: 2000 certified company. Further information regarding DES may be found at

Denison Mines Corp. is a premier intermediate uranium producer in North America, with mining assets in the Athabasca Basin region of Saskatchewan, Canada and the southwest United States including Colorado, Utah, and Arizona. The Company also has ownership interests in two of the four conventional uranium mills operating in North America today. The Company has a strong exploration and development portfolio with large land positions in the United States, Canada, Mongolia and Zambia.

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