Denison Reports Financial and Operational Results for Q3 2026, Highlighted by 24% Total Completion after First Quarter of Full-Scale Construction at Phoenix ISR Uranium Mine
Key Highlights
- ➤Phoenix construction reaches 24% completion after first full-scale quarter
- ➤Phoenix first production remains targeted for the second half of 2028
- ➤Phoenix project expenditures total $161.1 million year to date
- ➤2026 Phoenix expenditures forecast at $278.6 million
- ➤Phoenix North drilling intersects mineralization across more than 100 metres of strike
Expert Statements
David Cates, President and CEO of Denison Mines Corp.
“With a relatively short timeline for construction of the Phoenix In-Situ Recovery ("ISR") uranium mine, executing during the prime summer construction season is critical.”
David Cates, President and CEO of Denison Mines Corp.
“We are very pleased with our ability to immediately mobilize to site after regulatory approvals and ramp up activity to achieve a full-scale rate of construction for the third quarter.”
David Cates, President and CEO of Denison Mines Corp.
“Denison's results showcase significant construction progress at Phoenix and the potential to add meaningful shareholder value from the discovery of new mineralization on site.”
David Cates, President and CEO of Denison Mines Corp.
“During the quarter, we prioritized schedule-critical and seasonally sensitive activities to capitalize on the summer construction season, and we ended our first quarter of full-scale construction with the project's total percentage completion estimated at 24%.”
David Cates, President and CEO of Denison Mines Corp.
“Based on this initial progress, we continue to target completion of construction and achievement of first production during the second half of 2028, which is approximately 2 years after the commencement of full-scale construction.”
David Cates, President and CEO of Denison Mines Corp.
“By the end of October 2026, nearly 50% of all site civil work was complete, including the establishment of the main access road from Highway 914, and all scopes required to advance construction of the process plant, the delivery and installation of key electrical assets, the commencement of freeze well drilling, and preparation of the airstrip for operations in Q4.”
David Cates, President and CEO of Denison Mines Corp.
“In addition, the schedule-critical concrete work required to start construction of the process plant building during the winter is substantially complete.”
David Cates, President and CEO of Denison Mines Corp.
“Offsite fabrication of modularized equipment is also progressing, with key electrical infrastructure, the freeze plant, and certain process tanks, amongst other equipment and materials, already received on site or released for shipment to site.”
David Cates, President and CEO of Denison Mines Corp.
“We are also pleased to report encouraging exploration results at the emerging Phoenix North target area, which is located within the surface footprint of the Phoenix ISR mine site.”
David Cates, President and CEO of Denison Mines Corp.
“Drilling in this area continues into the fourth quarter, as the discovery of additional resources in the immediate vicinity of Phoenix could add significant value to the project.”
Denison Reports Financial and Operational Results for Q3 2026, Highlighted by 24% Total Completion after First Quarter of Full-Scale Construction at Phoenix ISR Uranium Mine PR Newswire
TORONTO, Nov. 4, 2026 /PRNewswire/ -- Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) today filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ("MD&A") for the three and nine months ended September 30, 2026. Both documents will be available on the Company's website (at www.denisonmines.com ), SEDAR+ (at www.sedarplus.ca ) and EDGAR (at www.sec.gov/edgar ). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. PDF version
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