White Canyon Uranium Limited

White Canyon Uranium Limited

April 01, 2011 13:19 ET

Update to Takeover Offer by Denison Mines for White Canyon Uranium

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2011) - As previously announced, White Canyon Uranium Ltd (TSX VENTURE:WU)(ASX:WCU) ("White Canyon") has reached an agreement with Denison Mines Corp. ("Denison"), a publicly listed company headquartered in Canada, under which Denison will offer to acquire 100% of the fully paid ordinary shares in White Canyon by way of an off-market takeover (the "Offer").

Update to Offer Timetable

White Canyon understands that the Bidder's Statement is intended be lodged with ASIC in the week commencing Monday 4th April 2011 and dispatched to White Canyon Shareholders during the week commencing Monday 11th April 2011. This document will outline the full details of the Offer and the Offer process, as well as instructions on how to accept the Offer. It is currently the intention of White Canyon that the Target's Statement, which will include an Independent Expert Report, will be lodged with ASIC and dispatched to White Canyon Shareholders on or around the same time.

About White Canyon

White Canyon Uranium Ltd is a Perth, Western Australia-based company focused on acquisition, exploration, and development of uranium producing properties. The company's U.S. operations are headquartered in Moab, Utah and comprise multiple mining tenements covering approximately 15,500 acres in Southern Utah.

About Denison

Denison Mines Corp. is an 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 has ownership interests in two conventional uranium mills in North America. Denison also has a strong exploration and development portfolio including the Phoenix discovery in the Athabasca Basin as well as large land positions in the United States, Canada, Mongolia and Zambia.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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