Denison Mines Corp. announced that it has closed the previously announced transaction (the "Transaction") with Skyharbour Resources Ltd. ("Skyharbour") and the formation of four joint ventures consisting of claims previously comprising Skyharbour's Russell Lake Uranium Project ("Russell"), which is located directly adjacent to Denison's flagship Wheeler River Project ("Wheeler River"). The new joint ventures are designed to drive collaboration between Denison and Skyharbour's technical teams and to accelerate the evaluation of the prospective exploration ground adjacent to and proximal to Wheeler River.
Denison will serve as the operator for the Wheeler North and Wheeler River Inliers joint ventures, with ownership interests of 49% and 70% respectively. Skyharbour will serve as the operator for The Russell Lake (or "RL") and Getty East joint ventures, with Denison having ownership interests of 20% and 30%, respectively. In addition, Denison and Skyharbour have entered into option agreements (the " Earn-In Option Agreements"), which allow Denison to increase its ownership interest in each of the Wheeler North and Getty East joint ventures to up to 70%.
