NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE MKT:DNN) is
pleased to announce that it has entered into an agreement with Dundee Securities
Ltd. on behalf of a syndicate including Paradigm Capital Inc., Raymond James
Ltd., Scotiabank, BMO Capital Markets and Cormark Securities Inc. (together, the
"Underwriters") under which the Underwriters have agreed to purchase, on a
"bought deal" private placement basis, 8,050,000 flow-through common shares of
the Company (the "Flow-Through Shares") at a price of C$1.62 per Flow-Through
Share for total gross proceeds of C$13,041,000 (the "Offering"). The
Underwriters have been granted the option to purchase up to an additional 15% of
the number of Flow-Through Shares issuable in the Offering, exercisable in whole
or in part at any time up to 48 hours prior to the closing of Offering. The
Underwriters will seek to arrange for substituted purchasers for the
Flow-Through Shares in one or more provinces of Canada.


The closing of the Offering is expected to occur on or about August 12, 2014 and
is subject to the completion of formal documentation and receipt of regulatory
approvals, including the approval of the Toronto Stock Exchange and the NYSE MKT
LLC.


The Company intends to use the gross proceeds of the Offering for "Canadian
exploration expenses" (within the meaning of the Income Tax Act (Canada))
related to the Company's Canadian uranium mining exploration projects. The
Company will agree to renounce such Canadian Exploration Expenses with an
effective date of no later than December 31, 2014.


About Denison

Denison is a uranium exploration and development company with interests in
exploration and development projects in Canada, Zambia, Mali, Namibia, and
Mongolia. Including the high grade Phoenix deposits, located on its 60% owned
Wheeler project, Denison's exploration project portfolio includes 42 projects
and totals approximately 483,000 hectares in the Eastern Athabasca Basin region
of Saskatchewan. Denison's interests in Saskatchewan also include a 22.5%
ownership interest in the McClean Lake joint venture, which includes several
uranium deposits and the McClean Lake uranium mill, one of the world's largest
uranium processing facilities, plus a 25.17% interest in the Midwest deposit and
a 60% interest in the J-Zone deposit on the Waterbury property. Both the Midwest
and J Zone deposits are located within 20 kilometres of the McClean Lake mill.
Internationally, Denison owns 100% of the conventional heap leach Mutanga
project in Zambia, 100% of the uranium/copper/silver Falea project in Mali, a
90% interest in the Dome project in Namibia, and an 85% interest in the in-situ
recovery projects held by the Gurvan Saihan joint venture in Mongolia.


Denison is engaged in mine decommissioning and environmental services through
its DES division and is the manager of Uranium Participation Corporation, a
publicly traded company which invests in uranium oxide and uranium hexafluoride.


Cautionary Statements

This news release does not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein in the United States. The
securities described herein have not been and will not be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent an exemption from the registration requirements of
such Act.


Certain information contained in this press release 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, 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 press release should not be unduly relied upon.
This information speaks only as of the date of this press release. In
particular, the forward-looking information contained herein relates to the
expectations of Denison to complete the Offering, the proposed use of proceeds
of the Offering and the expected closing date of the Offering. 


There can be no assurance that such statements will prove to be accurate, as the
outcome of the proposed Offering 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. 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.


Cautionary Note to United States Investors Concerning Estimates of Measured,
Indicated and Inferred Mineral Resources: This press release may use the terms
"measured", "indicated" and "inferred" mineral resources. Persons in the United
States are advised that while such terms are recognized and required by Canadian
regulations, the United States Securities and Exchange Commission does not
recognize them. "Inferred mineral resources" have a great amount of uncertainty
as to their existence, and as to their economic and legal feasibility. It cannot
be assumed that all or any part of an inferred mineral resource will ever be
upgraded to a higher category. Under Canadian rules, estimates of inferred
mineral resources may not form the basis of feasibility or other economic
studies. Persons in the United States are cautioned not to assume that all or
any part of measured or indicated mineral resources will ever be converted into
mineral reserves. Persons in the United States are also cautioned not to assume
that all or any part of an inferred mineral resource exists, or is economically
or legally mineable.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Denison Mines Corp.
Ron Hochstein
President and CEO
(416) 979-1991 ext 232


Denison Mines Corp.
Sophia Shane
Investor Relations
(604) 689-7842
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