11:56 AM EDT, 07/16/2025 (MT Newswires) -- (Updates shares.)

Denison Mines ( DNN ) reported Wednesday the discovery of additional high-grade mineralization about 40 meters outside of the mineralized domain associated with the D1 lens of the Gryphon uranium deposit in Saskatchewan.

The company said it intersected 2.3 meters at 1.69% uranium equivalent at drill hole WR-837AD2, including 0.5 meters at 5.48% uranium equivalent. The area remains open down-plunge and along strike to the northeast for further expansion. Gryphon is located three-kilometers northwest of Denison's flagship Wheeler River property.

"The delineation results demonstrate that Gryphon is an excellent high-grade basement-hosted uranium deposit that justifies further project development evaluation and de-risking," said David Cates, president and CEO of Denison.

Denison said it is developing plans to follow up the result and test other expansion targets.

Denison shares were last seen up $0.10 to $2.65 on the Toronto Stock Exchange.

Price: 2.65, Change: +0.10, Percent Change: +3.73