TORONTO, May 8, 2024 /CNW/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX:DML) (NYSE:DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended March 31, 2024. Both documents will be available on the Company's website at www.denisonmines.com, SEDAR+ (at www.sedarplus.ca) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. View PDF David Cates, President and CEO of Denison commented, "This year, Denison commemorates its 70th year of uranium mining, exploration, and development. Denison's long history in uranium mining has been characterized by strategic vision, technological advancement, and an entrepreneurial drive to accomplish things others thought impossible. Modern Denison's defining moment can be traced to a decision, from approximately 15-years ago, to reposition the Company away from a high-cost global expansion platform to focus on the exploration and development of high-grade uranium deposits in the Athabasca Basin region of northern Saskatchewan.  This strategy built on Denison's discovery of the Phoenix deposit in 2008 and demonstrated a steadfast conviction that uranium and nuclear energy would be recognized as an essential source of baseload power generation in the long-run – offering an unrivaled combination of emission-free energy and energy security. Our tireless efforts to advance the Company's strategy, and complete technical evaluations of our flagship Wheeler River project, led to the bold selection of the In-Situ Recovery ('ISR') mining method for the Phoenix deposit in 2018, and have put us in a position where we are nearing a final investment decision to proceed with the construction of potentially one of the lowest-cost uranium mines in the world.  In Q1'2024 we made several important steps towards this objective, including the transition from Front-End Engineering Design to detailed design, and the exclusive acquisition of MaxPERF tooling systems, which are expected to support our industry leading deployment of the low-cost ISR mining method in the Athabasca Basin. Denison's portfolio of uranium reserves, resources, and physical holdings has greatly appreciated in value through late 2023 and into early 2024, as positive sentiment in the uranium and nuclear energy markets has sustained and uranium prices have rapidly increased.  As Denison has avoided entering low-priced uranium supply contracts in recent years and has held its physical uranium investment to support future project financing efforts for Phoenix, we are now in an enviable spot with significant uncommitted uranium production and physical holdings potentially available to the market at time of expected scarcity.  Taken together with continued geopolitical instability and the expected emergence of significant additional demand from new nuclear builds, it is an ideal time for our Company to be readying to build a low-cost Saskatchewan-based uranium mine. As we celebrate Denison's legacy of uranium mining in 2024, we look forward to marking this year with several additional notable milestones from our exciting portfolio of Saskatchewan-based uranium mining, exploration, and development projects." Highlights Transition to Detailed Design Engineering for Flagship Phoenix ISR Project with Award of $16 Million Contract to WoodIn January 2024, Denison awarded a contract for approximately $16 million to Wood Canada Limited ('Wood'), for the completion of detailed design engineering for the In-Situ Recovery ('ISR') mining project planned for the Phoenix uranium deposit ('Phoenix').Wood completed a Feasibility Study ('Phoenix FS') in 2023 to evaluate the use of the ISR mining method at Phoenix, the results of which reflected several years of technical de-risking efforts successfully completed by Denison and demonstrated robust economics. Following completion of the Phoenix FS, Denison's Board of Directors approved the continuation of efforts to advance Phoenix towards a final investment decision ('FID') and, in late 2023, the Management Committee of the Wheeler River Joint Venture approved a budget for the applicable 2024 expenditures, including detailed engineering design.The scope of the facilities to be designed by Wood under the contract is extensive, with work commencing in the first quarter of 2024 and potentially extending into the first half of 2025.