TSX – DML, NYSE MKT – DNNdenisonmines.com

A Lundin Group Company

The Waterbury Lake Property is 100% owned by the Waterbury Lake Uranium Corporation, a limited partnership between Denison Mines (60%) and Korea Waterbury Uranium Limited Partnership (40%).

The Waterbury Lake Property comprises 13 claims in the eastern Athabasca Basin in northern Saskatchewan centered five kilometres northwest of the Points North Landing, 24 kilometres west of the McClean Lake Mill, and immediately adjacent to the Roughrider and Midwest deposits. Access to the property is excellent as Provincial Highway 905 and the Black Lake Road pass through the southern and western portions of the property and winter

roads extending from these four season roads reach most areas on the property. Air access is

by helicopter or floatplane from Points North Landing (1.5

kilometres) or La Ronge (345 kilometres).

The property is underlain by Athabasca Group sandstones which overlie metamorphic rocks of the Wollason-Mudjatik Transition Zone

(WMTZ) of the Hearne Province. Metasediments

on the Waterbury Lake Property consist of variably

pyritic and graphitic pelites to semi-pelites with lesser calc-

silicates. Graphitic metasediments are the primary exploration targets on

the property and exploration to date has identified several metasedimentary corridors

with conductive horizons. The depth to the unconformity ranges between 200 to 370 metres.

Denison Mines Corp.Atrium on Bay595 Bay Street, Suite 402Toronto, OntarioM5G 2C2 Canada

416 979 1991info@denisonmines.com

Directors

Lukas H. Lundin, ChairmanRon F. Hochstein, President and CEOJohn H. CraigW. Robert DenglerBrian D. EdgarTae-hwan KimWilliam A. RandCatherine J.G. Stefan

ManagementRon F. Hochstein, President and CEODavid D. Cates, VP Finance, tax and CFOMichael J. Schoonderwoerd, VP ControllerTerry V. Wetz, VP Project DevelopmentSteve Blower, VP ExplorationSheila Colman, Canadian Counsel and Corporate Secretary

Regina

ATHABASCA BASIN

Saskatchewan ManitobaAlberta

Northwest Territories

Prince Albert

Saskatoon

Waterbury Lake PropertyAthabasca Basin, Saskatchewan

Cigar Lake350 million lbs. U3O8

McArthur River (P2N)500 million lbs. U3O8

ATHABASCA BASIN

50 km

N

Uranium minesand deposits

Uranium mill

Waterbury LakeMidwest, Midwest A55 million lbs. U3O8

Fig. 24 km

N

Fig. 18 km

N

Previous Work• Initial exploration in the Waterbury Lake Property area was

inspired by the 1968 discovery of the Rabbit Lake Deposit by Gulf Minerals and Uranerz Exploration. The earliest known exploration on the current Waterbury Lake Property was con-ducted in 1969 by King Resources, which completed radiomet-ric, magnetic, electromagnetic, and hydrogeochemical surveys.

• High grade uranium mineralization was discovered at Waterbury by previous owners in early 2010 including the J-Zone.

• Subsequent drilling by Denison has focused so far on other target areas including the Aran area and the north rim of the Waterbury Dome.

J-Zone• The deposit trends roughly east-west (80°) in line with the

metasedimentary corridor and cataclastic graphitic fault zone.

• Mineralization thickness varies widely throughout the J Zone and can range from tens of cm to over 19.5 m in vertical thick-ness. In cross section J Zone mineralization is roughly lens shaped with a relatively thick central zone that corresponds with the interpreted location of the cataclasite and rapidly tapers out to the north and south. Locally, a particularly high-grade (upwards of 40% U3O8) but often thin lens of min-eralization is present along the southern boundary of the metasedimentary corridor. Ten meter step out drill holes to the south from these high-grade holes have failed to intersect any mineralization, demonstrating the extremely discreet nature of mineralization.

• Uranium mineralization is generally found within several metres of the unconformity at depth ranges of 195 to 230 m below surface. It variably occurs entirely hosted within the Athabasca sediments, entirely within the metasedimentary gneisses or straddling the boundary between them. A semi-continuous, thin zone of uranium mineralization has been inter-sected in occasional southern J Zone drill holes well below the main mineralized zone, separated by several meters of barren metasedimentary gneiss. This mineralized zone is informally termed the south-side lens and can host grades up to 3.70% U3O8.

• The J Zone deposit is generally flat lying (located roughly 200 m below the surface of McMahon Lake) and therefore whenever possible holes have been drilled vertically in order to intersect the ore lenses perpendicularly, thereby giving an approximate true thickness.

Potential• The Waterbury Lake Property has excellent potential and

remains under-explored with numerous targets to be tested. The proximity of the McClean Lake Mill will serve to enhance the economics of any future discoveries.

• There is potential to define new conductors on the flanks of magnetic highs which remain unsurveyed by ground methods. Such areas include the western extension of the Discovery Bay corridor and the western side of the Murphy Lake. These areas represent approximately 25 kilometres of strike length within the property.

For more information about this project please contact:

Steve Blower, Vice President, Exploration

T 604 689 7842sblower@denisonmines.com

Please view www.denisonmines.com to view the Company’s Annual Information Form and Quarterly Exploration and Development Updates and Financial Statements for further information.

Cautionary Statements

Certain information contained in this document constitutes “forward-looking information”, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this docment should not be unduly relied upon. This information speaks only as of the date of this document. In particular, this document release may contain forward-looking information pertaining to the following: the likelihood of completing and benefits to be derived from corporate transactions; the estimates of Denison’s mineral reserves and mineral resources; expectations regarding the toll milling of Cigar Lake ores; capital expenditure programs, estimated exploration and development expenditures and reclamation costs; expectations of market prices and costs; supply and demand for uranium (“U3O8”); possible impacts of litigation and regulatory actions on Denison; exploration, development and expansion plans and objectives; expectations regarding adding to its mineral reserves and resources through acquisitions and exploration; and receipt of regulatory approvals, permits and licenses under governmental regulatory regimes.

There can be no assurance that such statements will prove to be accurate, as Denison’s actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in or referred to under the heading “Risk Factors” in Denison’s Annual Information Form dated March 14, 2014 available at http://www.sedar.com, and in its Form 40-F available at http://www.sec.gov/edgar.shtml.

Accordingly, readers should not place undue reliance on forward-looking statements. These factors are not, and should not be construed as being, exhaustive. Statements relating to “mineral reserves” or “mineral resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison’s expectations except as otherwise required by applicable legislation.

04/07/2014