Denison Mines Inc.
TSX : DEN

Denison Mines Inc.

November 20, 2006 10:15 ET

Denison Mines Shareholders Approve Merger With International Uranium Corporation

TORONTO, ONTARIO--(CCNMatthews - Nov. 20, 2006) -

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

Denison Mines Inc. (TSX:DEN)("Denison") is pleased to announce that its shareholders and its optionholders, at the Special Meeting of Shareholders and Optionholders held in Toronto today, November 20, 2006, approved the merger between Denison and International Uranium Corporation ("IUC").

The special resolution, as fully described in the Management Information Circular, approving the plan of arrangement ("Plan of Arrangement") under section 182 of the Business Corporations Act (Ontario) was passed by 99.86% of the 10,672,259 shareholder votes cast and by 99.87% of the combined votes of shareholders and optionholders cast at the meeting.

IUC has scheduled a Special Shareholders' Meeting to be held later today to consider and approve a resolution authorizing the issue of up to 102,000,000 IUC common shares in connection with the Plan of Arrangement and to consider and approve such other resolutions necessary in connection with the business combination between IUC and Denison.

Should shareholders of IUC approve these resolutions, and provided the Ontario Court of Justice approves the transaction on November 28, 2006, closing is expected to occur on December 1, 2006 at which time Denison's common shares will cease trading on the Toronto Stock Exchange.

Pursuant to the Plan of Arrangement, holders of Denison common shares will exchange each one of their Denison common shares for 2.88 IUC common shares. IUC shareholders will continue to hold their existing number of common shares. IUC will be renamed Denison Mines Ltd. and, shortly after closing, its common shares will commence trading under the symbol "DML".

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 actively engaged in exploration activities in Canada's Athabasca Basin and in Mongolia, and through its 12% interest in Energy Metals in Australia. It is also engaged in mine decommissioning and environmental services through its Denison Environmental Services division and provides management services to Uranium Participation Corporation. Additional information on Denison is available on SEDAR at www.sedar.com and on Denison's website at www.denisonmines.com.

Contact Information

  • Denison Mines Inc.
    E. Peter Farmer
    President and Chief Executive Officer
    (416) 979-1991 Ext. 231
    or
    Denison Mines Inc.
    James R. Anderson
    Executive Vice-President and Chief Financial Officer
    (416) 979-1991 Ext. 372
    Website: www.denisonmines.com