EX-99.1
2
a202105dmlprboardannounce.htm
PRESS RELEASE DATED MAY 11, 2021
a202105dmlprboardannounce
Exhibit
99.1
Denison Mines
Corp.
1100 – 40
University Ave
Toronto, ON M5J
1T1
www.denisonmines.com
PRESS
RELEASE
DENISON ANNOUNCES APPOINTMENT OF RON HOCHSTEIN
AS BOARD CHAIR AND WELCOMES NEW DIRECTORS
Toronto, ON – May 11,
2021. Denison Mines Corp.
(“Denison” or the
“Company”) (DML: TSX, DNN: NYSE American) is pleased to
announce the appointment of Mr. Ron F. Hochstein as Chair of
the Board of Directors (“Board Chair”). Mr. Hochstein
was elected Board Chair, and Mr. Brian Edgar was elected Lead
Director, at a meeting of the Company’s independent directors
following the Company’s Annual General Meeting. The Company
is also pleased to welcome David Neuburger and Jennifer Traub to
the Board of Directors.
Ron Hochstein,
Denison’s Board Chair, commented, “I am honoured to
have been elected Chair of Denison’s Board by the
Company’s independent directors. This is a very exciting and
important time in the modern history of Denison – as the
Company focuses on advancing its low-cost Phoenix In-Situ Recovery
(‘ISR’) uranium development project, at a time when the
uranium market is showing signs of a sustained
recovery.
Navigating years of challenging uranium markets, with a view of
building a sustainable low-cost uranium mining company, has taken
great vision from the Company’s Board and management.
Accordingly, on behalf of the Board of Directors, I would like to
thank Catherine Stefan and Jack Lundin for their contributions to
the Board, and specifically express our appreciation to Ms. Stefan,
the Company’s outgoing Board Chair, for her legacy of
leadership and oversight of the Company during her six year term as
Chair and Lead Director and 17 year tenure as a Director of the
Company and its predecessor Denison Mines Inc.”
David Cates,
Denison Director and President & CEO, added, “We are also pleased
to welcome the addition of two highly qualified new Directors to
join Denison’s Board. Jennifer Traub serves as Co-Chair of
the Mining Group at Cassels Brock & Blackwell LLP and has been
recognized as a legal leader in the Canadian resource sector.
Joining Jennifer as a new Director is Dave Neuburger. Few people
have the same caliber of directly applicable technical experience
that Dave brings to our Board – including previous executive
oversight of Cameco’s international ISR mining operations and
various mining operations in the Athabasca
Basin.”
While both Mr.
Hochstein and Mr. Edgar are considered by the Board to be
independent, the appointment of Mr. Edgar as Lead Director is a
corporate governance initiative designed to enhance the
Company’s overall governance practices by further
capitalizing on the diversity of qualifications that each of
Denison’s directors brings to the Board – including Mr.
Edgar’s 30-plus years of experience serving on public company
boards and 16 years of practice in corporate and securities
law.
Ron Hochstein
Mr. Hochstein is
currently the President and Chief Executive Officer of Lundin Gold
Inc. (“Lundin Gold”), which owns and operates the
high-grade and multi-million-ounce Fruta del Notre
(“FDN”) gold mine in southeast Ecuador. Under Mr.
Hochstein’s leadership, Lundin Gold acquired FDN in late
2014, completed a feasibility study, signed several agreements with
the Ecuadorian Government, financed, and then constructed the mine
and infrastructure on time and on schedule within five years
– achieving first gold production in November 2019. Mr.
Hochstein is a Professional Engineer and holds an MBA from the
University of British Columbia and a B.Sc. from the University of
Alberta. Mr. Hochstein has served as a director of Denison since
April 2000, and sits on the Board of Lundin Gold (TSX, Nasdaq
Stockholm) and Josemaria Resources Inc. (TSX, Nasdaq
Stockholm).
Brian Edgar
Brian Edgar is
the Chairman of Silver Bull Resources Inc., a mineral exploration
company listed on the TSX and the OTC MKTS. Mr. Edgar holds a
Bachelor of Arts degree and a Law degree, both from the University
of British Columbia. Mr. Edgar practiced Corporate and Securities
law in Vancouver, BC Canada for 16 years before retiring from the
law in October 1992. Since that date, Mr. Edgar has served on the
board of numerous private and public mining and oil & gas
companies and had co-founded a private investment company, Rand
Edgar Investment Corp. Mr. Edgar has served as a director of the
Company since March 2005.
David Neuburger
David
Neuburger is a corporate director and consultant, with more than 30
years of experience in executive leadership, operations management,
corporate strategic planning, projects, and mine engineering for
companies involved in uranium, gold, nickel and copper/zinc mining.
From 2013 to 2018, Mr. Neuburger was Vice President, General
Manager, Kupol Operations for Kinross Gold Corporation. Prior to
that, Mr. Neuburger held the positions of Vice President,
International Mining (2010 to 2013) at Cameco Corporation
(“Cameco”), where he was responsible for oversight of
Cameco’s ISR mining operations and joint ventures in the
United States and Kazakhstan and Vice President, Mining Division
(2004 to 2010) with oversight of Cameco’s uranium mining
operations in the Athabasca Basin region of Northern Saskatchewan.
Additionally, Mr. Neuburger has served as President and held other
executive committee roles with the Saskatchewan Mining Association.
Mr. Neuburger is a Professional Engineer registered in
Saskatchewan, and holds B.Eng. (Mining) and B.Sc. (Biology) degrees
from McGill University and an MBA from the University of
Saskatchewan.
Jennifer Traub
Jennifer
Traub is a partner in the Securities Group at Cassels Brock &
Blackwell LLP and serves as Co-Chair of the firm’s Mining
Group. Ms. Traub represents both issuers and investment dealers in
connection with M&A, public and private securities offerings
and other financing transactions. She has particular expertise and
experience in the resource sector and has played an integral role
in managing some of the largest and most complex Canadian corporate
finance and M&A transactions in the mining industry. In
addition to transactional work, Ms. Traub regularly advises public
companies regarding general corporate and securities law matters,
including continuous disclosure, corporate governance and Canadian
stock exchange issues. Ms. Traub is a member of the Law Societies
of British Columbia and Ontario, has completed the Osgoode
Certificate in Mining Law, and holds a Bachelor of Laws degree from
Osgoode Hall Law School.
About
Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. The Company's flagship project is the 90%
owned Wheeler River Uranium Project, which is the largest
undeveloped uranium project in the infrastructure rich eastern
portion of the Athabasca Basin region of northern Saskatchewan.
Denison's interests in Saskatchewan also include a 22.5% ownership
interest in the McClean Lake joint venture ("MLJV"), which includes
several uranium deposits and the McClean Lake uranium mill that is
contracted to process the ore from the Cigar Lake mine under a toll
milling agreement, plus a 25.17% interest in the Midwest Main and
Midwest A deposits, and a 66.90% interest in the Tthe Heldeth
Túé ("THT", formerly J Zone) and Huskie deposits on the
Waterbury Lake property. Each of Midwest Main, Midwest A, THT and
Huskie are located within 20 kilometres of the McClean Lake
mill.
Denison is also engaged in mine decommissioning and environmental
services through its Closed Mines group (formerly Denison
Environmental Services), which manages Denison's Elliot Lake
reclamation projects and provides post-closure mine care and
maintenance services to a variety of industry and government
clients.
Certain information contained in this news release constitutes
‘forward-looking information’, within the meaning of
the applicable United States and 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’, ‘budget’,
‘scheduled’, ‘estimates’,
‘forecasts’, ‘intends’,
‘anticipates’, or ‘believes’, or the
negatives and/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’.
In particular, this news release contains forward-looking
information pertaining to the following: the composition of the
Denison Board; expectations regarding Denison’s joint venture
ownership interests and the continuity of its agreements with third
parties.
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. 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 accurate and results may differ
materially from those anticipated in this forward looking
information. For a discussion in respect of risks and other factors
that could influence forward-looking events, please refer to the
factors discussed in Denison’s Annual Information Form dated
March 26, 2021 under the heading ‘Risk Factors’. These
factors are not, and should not be construed as being
exhaustive.
Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement. Any forward-looking information and the
assumptions made with respect thereto speaks only as of the date of
this news release. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the
date of this news release to conform such information to actual
results or to changes in Denison's expectations except as otherwise
required by applicable legislation.