Denison Awarded Care and Maintenance Contract at the Faro Mine Complex, Yukon
05 August 2008 - 11:22PM
Marketwired
TORONTO, ONTARIO (TSX: DML)(AMEX: DNN) announced that Denison
Environmental Services ("DES"), a division of Denison Mines Inc., a
wholly owned subsidiary of the Company, has been awarded a contract
for care and maintenance at the Faro Mine Complex in the Yukon.
The three year, $7.2 million per annum contract has been awarded
following a six-month competitive public tender process overseen by
the Government of Yukon. DES will provide care and maintenance
services at the Faro Mine Complex, including: the ongoing
collection and treatment of contaminated water, the management of
uncontaminated runoff; the inspection and maintenance of dams and
diversion channels; the monitoring of water quality; general
maintenance and site security.
The contract also includes provisions for training and
employment opportunities for affected Yukon First Nations and
Yukoners.
"The award of this contract is an important recognition of the
technical expertise and experience of Denison Environmental
Services and expands the reach of our rehabilitation efforts across
the country," stated Ian Ludgate, Manager, DES.
Faro was an open-pit lead-zinc mine that closed in 1998. The
Government of Canada and the Government of Yukon are taking a
collaborative approach to management of the Faro mine remediation
project, including planning for final closure and remediation.
DES will take over the care and maintenance responsibilities in
March 2009, after a transition period with the court appointed
Interim Receiver for the Anvil Range Mining Corporation (Deloitte
and Touche Inc.) who have managed the care and maintenance at the
site since 1998.
DES was formed to assist the mining industry and governments
with the final stages of the mining cycle. Its goal is to lead the
industry in cost effective decommissioning solutions to mine
closure issues, focusing on infrastructure, tailings
rehabilitation, sale of mine assets and especially long term-care
and maintenance of closed sites. DES is an ISO 9001: 2000 certified
company. Further information regarding DES may be found at
www.denisonenvironmental.com.
About Denison
Denison Mines Corp. is a premier intermediate uranium producer
in North America, with mining assets in the Athabasca Basin region
of Saskatchewan, Canada and the southwest United States including
Colorado, Utah, and Arizona. The Company also has ownership
interests in two of the four conventional uranium mills operating
in North America today. The Company has a strong exploration and
development portfolio with large land positions in the United
States, Canada, Mongolia and Zambia.
Cautionary Statements
This news release contains "forward-looking statements", 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 Mines Corp. ("Denison").
Forward looking statements include, but are not limited to,
statements with respect to estimated production; the development
potential of Denison's properties, including those of its joint
ventures; the future price of uranium; the estimation of mineral
reserves and resources; the realization of mineral reserve
estimates; the timing and amount of estimated future production;
costs of production; capital expenditures; success of exploration
activities; permitting time lines and permitting, mining or
processing issues; currency exchange rate fluctuations; government
regulation of mining operations; environmental risks; unanticipated
reclamation expenses; title disputes or claims; and limitations on
insurance coverage. 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" or "be
achieved".
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, level of activity,
performance or achievements of Denison to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to risks related to: unexpected events
during construction, expansion and start-up; variations in ore
grade, tonnes mined, crushed or milled; delay or failure to receive
board or government approvals; timing and availability of external
financing on acceptable terms; actual results of current
exploration activities;; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined;
future prices of uranium and vanadium; possible variations in ore
reserves, grade or recovery rates; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; delays in the completion of
development or construction activities, as well as those factors
discussed in or referred to under the heading "Risk Factors" in
Denison's Annual Information Form dated March 28, 2008 available at
www.sedar.com and its Form 40-F available at www.sec.gov. Although
management of Denison has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or
intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Denison does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
Mineral resources, which are not mineral reserves, do not have
demonstrated economic viability. Readers should refer to the Annual
Information Form and the Form 40-F of the Company for the year
ended December 31, 2007 and other continuous disclosure documents
filed since December 31, 2007 available at www.sedar.com, for
further information relating to their mineral resources and mineral
reserves.
Contacts: Denison Mines Corp. E. Peter Farmer (416) 979-1991
ext. 231 Denison Mines Corp. Ron Hochstein (604) 689-7842 Denison
Mines Corp. James Anderson (416) 979-1991 ext. 372 (416) 979-5893
(FAX) Website: www.denisonmines.com
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