Denison Mines Inc.

Denison Mines Inc.

March 16, 2005 13:58 ET

Denison Completes $4,000,000 Flow-Through Common Share Private Placement




MARCH 16, 2005 - 13:58 ET

Denison Completes $4,000,000 Flow-Through Common Share
Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 16, 2005) - Denison Mines Inc.
(TSX:DEN) is pleased to announce that it has closed a previously
announced private placement of 184,000 flow-through common shares,
priced at $21.75 each, for gross proceeds of approximately $4,000,000.
Dundee Securities Corporation acted as agent for the private placement
and received a commission equal to 4% of the aggregate gross proceeds.
The common shares have not been qualified by a prospectus, and, as such,
are subject to the applicable statutory hold period.

Proceeds of the private placement will be used to finance a portion of
the Company's 2005 and 2006 exploration programs at its properties at
McClean Lake, Midwest, Wheeler River, Wolly and Waterfound. Denison has
agreed to incur and renounce qualifying Canadian exploration expenses
under the Income Tax Act (Canada) to the subscribers in an amount equal
to the subscription price of the shares.

This news release shall not constitute an offer to sell or the
solicitation of any offer to buy the securities to be distributed
pursuant to the financing. Such securities will not be and have not been
registered under the United States Securities Act of 1933, as amended,
and may not be offered or sold in the United States absent registration
or an exemption from registration.

About Denison

Denison Mines Inc. is a uranium exploration, development and production
company whose principal assets are a 22.5% interest in one of the
world's largest uranium facilities at McClean Lake in Northern
Saskatchewan and its 25.17% interest in the Midwest uranium project. It
is also engaged in mine decommissioning and environmental services
through its Denison Environmental Services division. Additional
information on Denison is available on SEDAR at and on
Denison's website at

Not for distribution to United States newswire services or for
dissemination in the United States


Contact Information

    Denison Mines Inc.
    E. Peter Farmer
    President and Chief Executive Officer
    (416) 979-1991 Ext. 231
    Denison Mines Inc.
    James R. Anderson
    Executive Vice-President and Chief Financial Officer
    (416) 979-1991 Ext. 372