Denison Announces Exclusive Acquisition of MaxPERF Tool Systems

Source: www.gulfoilandgas.com 2/26/2024, Location: North America

Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has completed an acquisition of fixed and mobile MaxPERF Tool Systems from Penetrators Canada Inc. ("Penetrators"). Significantly, Penetrators has also agreed to work exclusively with Denison with respect to the use of the MaxPERF Tool Systems for uranium mining applications, and related services, in Saskatchewan for a 10-year period.

David Cates, Denison's President & CEO, commented, "We are pleased to enter into this exclusive arrangement with Penetrators and add the MaxPERF technology to Denison's in-house ISR mining toolkit, which we believe will further enhance our existing and significant competitive advantage in deploying the low-cost In-Situ Recovery ('ISR') mining method to our high-grade uranium deposits in the Athabasca Basin."

Chad Sorba, Denison's Vice President Technical Services & Project Evaluation, added, "With Denison on track to operate the first ISR uranium mine in the Athabasca Basin region, the acquisition of the MaxPERF Tool Systems represents another important step in our preparations for project execution and commercial ISR mining. MaxPERF has historically been used in the oil and gas sector and was identified by Denison as a potentially useful tool for permeability enhancement to support ISR mining. In 2023, Denison completed a ground-breaking multi-year technical de-risking program at the Company's Phoenix deposit, which rigorously assessed and successfully applied the MaxPERF system to enhance deposit permeability – including its deployment as part of the highly successful Feasibility Field Test program. Given the demonstrated success of the technology, we look forward to continuing to work together with the team at Penetrators to use MaxPERF in this new commercial application."

Dwayne West, President of Penetrators, further commented, "Denison's ISR uranium mining technique is an outstanding application for the MaxPERF technology – permeability exposure that will be exploited for both injectivity and productivity purposes. Penetrators is very pleased with the relationship we have built with Denison and this partnership is a positive next step."

Permeability enhancement techniques, such as the use of the MaxPERF tool, are designed to improve hydraulic responses and inter-well connectivity within an ISR mining pattern, essentially engineering additional access to the natural permeability within the deposit. The MaxPERF tool has been successfully deployed several times as a method of permeability enhancement in ISR field studies conducted on the Company's potential ISR mining projects, including at Denison's flagship Phoenix uranium deposit.


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