Denison Mines (DNN) Secures Final Federal Approval to Construct Landmark Phoenix Uranium Mine

Denison Mines Corp. (NYSEAMERICAN:DNN) is one of the best high volume stocks to invest in now. On February 19, Denison Mines received final regulatory approval from the Canadian Nuclear Safety Commission/CNSC to construct the Phoenix In-Situ Recovery/ISR uranium mine at its Wheeler River Project. This landmark decision follows the federal approval of the Environmental Assessment and the issuance of a ‘Licence to Prepare Site & Construct a Mine and Mill.’

As the first project in Canada authorized for ISR mining and the first large-scale uranium mine approved for construction in over 20 years, Phoenix represents a significant shift toward more sustainable and economically efficient mining methods. With all necessary provincial and federal permits now secured, Denison is prepared to transition immediately into site preparation and construction activities.

Denison Mines Corp. (NYSEAMERICAN:DNN) has already awarded the construction management contract and maintains the financial position to support the project’s development. Management expects a ~two-year construction timeline, keeping the Phoenix mine on track to achieve its first uranium production by mid-2028. The Wheeler River Project is the largest undeveloped uranium project in the region and is a JV between Denison and JCU (Canada) Exploration Company. The project’s Phoenix deposit is designed to be among the lowest-cost uranium operations globally.

Denison Mines Corp. (NYSEAMERICAN:DNN) acquires, explores, and develops uranium-bearing properties in Canada. It holds 95% interest in its flagship project Wheeler River uranium project, located in the Athabasca Basin region in northern Saskatchewan.

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