White Canyon Uranium Limited

White Canyon Uranium Limited

December 31, 2010 11:27 ET

White Canyon Completes $750,000 Short Term Loan Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 31, 2010) - White Canyon Uranium Limited (TSX VENTURE:WU)(ASX:WCU) has entered into a short term loan agreement with Denison Mines Inc. (TSX:DML)(NYSE Amex:DNN) for $750,000 secured by a portion of White Canyon's recent production inventory of U3O8 yellowcake.

The full loan amount has been advanced to the Company and will be paid from the proceeds of White Canyon's U3O8 as the product is sold by Denison under its sales agency agreement with White Canyon.

About White Canyon

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

About Denison Mines Inc.

Denison Mines Inc. is mid-sized 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.

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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