Compare estimate to Denisons-read carefully in full..Denison Announces Phoenix Uranium Deposit Mineral Resource Estimate Now Over 70 Million Pounds TORONTO, ONTARIO--(Marketwired - June 17, 2014) - Denison Mines Corp. (TSX:DML)(NYSE MKT:DNN) ("Denison" or the "Company") is pleased to announce an updated mineral resource estimate for the high grade Phoenix uranium deposit on its Wheeler River project in Northern Saskatchewan. Since the previous mineral resource estimate in 2012, Denison has completed 25 drill holes at Phoenix to convert inferred mineral resources to indicated, and to extend higher grade portions of the deposit. The result of these efforts is an increase in the total indicated mineral resource estimate from 52,300,000 lbs U3O8 to 70,200,000 lbs U3O8 based on 166,400 tonnes of mineralization at an average grade of 19.13% U3O8. This is a 34% increase in indicated lbs U3O8 over the 2012 estimate. Additionally, the total inferred mineral resource is now estimated to contain 1,100,000 lbs U3O8 based on 8,600 tonnes of mineralization with an average grade of 5.80% U3O8. Wheeler River lies between the McArthur River mine and Key Lake mill complex in the Athabasca Basin in northern Saskatchewan. Denison is the operator and holds a 60% interest in the project. Cameco Corporation holds a 30% interest and JCU (Canada) Exploration Company, Limited holds the remaining 10% interest. Summary Table The following table summarizes the mineral resource estimate by classification. 2014 Phoenix Mineral Resource Estimate Summary Abbreviated.... Indicated 70.2 million pounds Denison's Share 42.1 million pounds 1. CIM Definitions were followed for classification of mineral resources. 2. Mineral resources are reported above a cut-off grade of 0.8% U3O8. 3. The cut-off grade is based on internal conceptual studies and a price of US$50 per lb U3O8. 4. Numbers may not add due to rounding. 5. Effective as of May 28, 2014 Geology and Mineralization Mineralization at Phoenix occurs 400 metres below surface and shares many similarities with other unconformity related Athabasca uranium deposits. It occurs along the sub-Athabasca unconformity at its intersection with a moderately east dipping fault zone which results in an elongate and sub-horizontal shape to the deposit. Fault zones are best developed in graphitic metasediments in the underlying basement rocks. Mineralization varies from disseminated to massive, with several very high grade drill hole intersections including WR-525 which averaged 43.8% U3O8 over an interpreted true thickness of 12.0 metres. Phoenix belongs to a select group of very high grade unconformity uranium deposits that includes the prolific McArthur River mine (37 kilometres to the northeast) and the Cigar Lake mine (80 kilometres to the northeast).