05:29 AM EST, 11/17/2025 (MT Newswires) -- Denison Mines ( DNN ) said Monday that it signed an agreement to acquire initial interests in claims comprising Skyharbour Resources' Russell Lake uranium project in Canada for a total of 18 million Canadian dollars ($12.8 million).

The payment includes CA$2 million in cash, payable upon the deal's execution, and a deferred consideration of $16 million, payable in cash or common shares, Denison Mines ( DNN ) said.

Under the deal, the Russell property will be divided into four property joint ventures, with Denison Mines ( DNN ) to acquire initial stakes of 20% in Russell Lake, 30% in Getty East, 49% in Wheeler North, and 70% in Wheeler River Inliers, according to the statement.

Denison Mines ( DNN ) said it also agreed to sign option agreements with Skyharbour to increase its stakes in each of the Wheeler North and Getty East joint ventures to up to 70%. The company said the transaction remains subject to regulatory approvals.