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Denison Mines Corp. reports on uranium mining, exploration, and development activities tied to its Canadian asset base and uranium market exposure. Company updates include financial and operational results, the Phoenix ISR uranium mine, annual reporting, and capital and project decisions affecting its uranium portfolio.
Recurring news also covers Athabasca Basin exploration relationships, including Cosa-operated Murphy Lake North and Darby joint ventures in Saskatchewan where Denison holds 30% interests, and JCU-related project interests such as Millennium, Kiggavik, and Christie Lake. Industry updates place DNN within broader uranium supply, nuclear fuel, and nuclear energy market developments.
Cosa Resources (COSAF) began a fully funded summer 2026 drilling program of up to 2,500 metres at the Darby uranium joint venture with Denison Mines (DNN), located 10 kilometres west of the Cigar Lake Mine.
Cosa operates Darby and holds a 70% interest, with Denison holding 30%. Drilling will focus on the Gamma and Bravo trends, following up structures, alteration and anomalous uranium geochemistry from Cosa’s 2026 winter program and historical holes. At Gamma, work will extend a 100+ metre zone of graphitic basement faulting with 30+ metres of unconformity relief and elevated uranium in basal sandstone. At Bravo, targets lie along a magnetic low trend associated with graphitic structure, alteration and weak uranium mineralization interpreted to extend toward the Cigar Lake area. The company states it has $16 million in the treasury, funding this program and follow-up work in 2027.
Cosa Resources (COSA, COSAF) reported summer 2026 drilling results from the Murphy Lake North uranium joint venture with Denison Mines (DNN), where Cosa is operator with a 70% interest and Denison holds 30%.
The 13-hole, 6,752 metre program at the Cyclone trend tested multiple structures over a 650-metre strike length, with every hole intersecting moderate to strong alteration and/or structure and several intervals of elevated radioactivity. Work outlined two main basement faults (N‑fault and S‑fault) that remain partly untested at the unconformity, leaving several hundred metres of strike open in multiple directions. Follow-up drilling extended a uranium pathfinder element–enriched basement alteration zone by 36 m east of earlier hole MLN26-017, and this zone remains open down dip and down plunge.
With about C$16 million in the treasury, Cosa states it is fully funded for an extensive winter follow-up campaign at Murphy Lake North and additional drilling at the Darby and Aurora projects into 2027.
Denison Mines (NYSE American: DNN) reported Q2 2026 results highlighting early construction progress at the Phoenix in-situ recovery uranium mine and monetization of physical uranium holdings to fund development. Since March 2026, over 20% of overall site civil work and nearly 100% of civil subgrade work for the process plant and wellfield areas have been completed, alongside installation of construction management and temporary camp facilities expanding on-site accommodation to nearly 400 people.
In Q2, Denison sold 750,000 lbs U3O8 at an average realized price of $122.16/lb, generating $91.6 million in gross proceeds and a $64.1 million gain (approximately 233%) versus its 2021 acquisition cost. As of June 30, 2026, Denison held about 1.1 million lbs U3O8, with 600,000 lbs committed for delivery between Q3 2026 and Q2 2027 and roughly 500,000 lbs remaining uncommitted. The company also completed over 50,000 metres of diamond drilling in 140 holes across 10 properties during an active winter exploration season, funding approximately $10 million in exploration in H1 2026.
Cosa Resources (TSXV: COSA, OTCQB: COSAF) reported results from a partner-funded airborne radiometric and magnetic survey over the Aurora uranium project in the southeastern Athabasca Basin, Saskatchewan. The survey, flown by Special Projects Inc. at 50-metre line spacing and fully funded by Traction Uranium (CSE: TRAC) under an option agreement, identified several radiometric anomalies interpreted as uranium-source features, many adjacent to or down-ice of previously defined prospective basement structures.
According to Cosa, interpretation and integration of the new data with existing gravity, electromagnetic, and historical drilling information are underway to finalize targets for an inaugural fall 2026 drill program at Aurora, planned to be 100% funded by Traction. Under the February 10, 2026 option agreement, Traction may earn up to an 80% interest in Aurora by sole-funding $9.15 million in exploration expenditures plus cash and share payments. Cosa highlights that Aurora is now considered drill-ready after the July 2026 property-wide high-resolution survey and notes that its broader strategy for 2026 remains focused on drilling at the Murphy Lake North and Darby joint ventures, advanced through a strategic collaboration with Denison Mines (NYSE American: DNN).
Denison Mines (NYSE American: DNN) announced that activities at the Phoenix in-situ recovery (ISR) uranium mine, part of the Wheeler River project in Saskatchewan, have moved from site preparation to full-scale construction, including starting installation of the Phase 1 perimeter freeze wall.
Since early works began in March 2026, Denison reports substantial completion of site clearing, progress on schedule-sensitive civil works, establishment of construction management facilities, and commissioning of a temporary construction camp that increases on-site accommodation capacity to nearly 400 people. Over 20% of overall site civil work is estimated complete, with near 100% completion of civil subgrade work for the process plant and wellfield areas.
Concrete-related work for the substation and main process plant foundations is expected to start in August, supported by a mobilized concrete batch plant and ongoing aggregate production. Phoenix is within the Wheeler River joint venture, where Denison holds a 90% interest and operates, alongside JCU at 10%. Environmental Assessment approvals and a construction licence were previously granted by Saskatchewan and the Canadian Nuclear Safety Commission, enabling full-scale construction commencement in July 2026.
Cosa Resources issued 2,154,476 common shares ("Deferred Consideration Shares") to Denison Mines (NYSE American: DNN) at a deemed price of $0.69036 per share as full satisfaction of deferred consideration under their November 26, 2024 acquisition agreement. The shares are subject to a four‑month‑plus‑one‑day hold period.
According to Cosa, this, together with a recently completed $12 million bought deal financing, leaves the company debt free and funded through 2027. Denison’s holdings increased from 21,740,864 to 23,895,340 shares, moving its partially diluted ownership from 17.5% to 18.9%, while it continues to hold 2,417,679 warrants (13.5% of Cosa’s outstanding warrants). Denison remains Cosa’s largest shareholder and joint venture partner, with Cosa holding an irrevocable 70% interest in the Murphy Lake North joint venture and conducting its largest drilling program to date.
Denison Mines (NYSE American:DNN) announced that Peter Ballantyne Cree Nation has withdrawn its judicial review application challenging the provincial Environmental Assessment approval for the Phoenix ISR uranium mine and has formally consented to and supports development and operation of the Wheeler River Project in northern Saskatchewan.
Wheeler River, a Denison-led joint venture (Denison 90%, JCU 10%), hosts the high-grade Phoenix and Gryphon deposits. Environmental Assessments are approved provincially (July 2025) and federally with a construction licence (February 2026), with Phoenix early works started in March 2026 and first production targeted for 2028.
Cosa Resources began a partner-funded ambient noise tomography (ANT) survey at the Astro uranium project in the eastern Athabasca Basin, about 28 km west of the McArthur River mine. The work is fully funded by partner Global Uranium under an option to earn up to 80% by sole-funding $9.5 million.
The ANT survey at the AS-1 target will deploy 300 seismic sensors over a 25-km conductive corridor, run for about two months, and generate shear wave velocity models to refine geological interpretations and guide potential EM surveys and inaugural drilling, targeted around 2027.
Cosa Resources began its largest drill program at the Murphy Lake North uranium joint venture with Denison Mines (NYSE American:DNN). The 2026 summer program plans about 6,000 metres in 15 holes targeting Cyclone uranium mineralization, open along strike for 600 metres and located only 265 metres below surface.
Recent winter holes at Section 3200E returned intervals up to 1.70% U3O8, 6.01% Ni and 2.50% Co, while Denison is funding work to maintain its 30% interest.
Cosa Resources (TSXV:COSA) and Denison Mines (NYSE American:DNN) outlined summer drill plans for the Darby uranium joint venture in Saskatchewan’s eastern Athabasca Basin. Cosa operates Darby with a 70% interest, while Denison holds 30%.
The program targets up to 2,000 metres of drilling on the Gamma and Bravo trends, following winter 2026 holes that intersected structure, alteration, uranium mineralization, and anomalous uranium geochemistry. Drilling at Darby is expected to start after a Murphy Lake North program, which is planned to take at least two months.