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UPDATE: Denison Mines Reports Increased Resource Estimate for Phoenix Deposits; Stock Rises 5.5% at Midday

Denison Mines Corp. (DML.TO) announced an updated Mineral Resource Estimate for the high grade Phoenix A and Phoenix B uranium deposits on its Wheeler River project in Northern Saskatchewan.

The mineral resource estimate update represents a 47% increase in indicated lbs U3O8 and a 100% increase in inferred lbs U3O8 over the previous mineral resource estimate done in 2010.

DML went up by nearly 5.5% to $1.35, moving further away from year low $1.04. Volume traded is over 3.3 million, making it the third most active on the TSX.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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