Denison Announces Signing of Sustainable Communities Investment Agreement

28 March 2024

Denison Mines Corp. is proud to announce the signing of a Sustainable Communities Investment Agreement (the "Agreement") with the municipalities of the Northern Village of Beauval, the Northern Village of Île-à-la Crosse, the Northern Hamlet of Jans Bay, and the Northern Hamlet of Cole Bay (the "Communities"). View PDF version

The Agreement acknowledges that the municipalities are located in northern Saskatchewan and have a desire to work together to develop a regional approach that enables social, economic and cultural revitalization.  Denison is focused on developing its flagship Wheeler River project (the "Project") in a sustainable manner that (i) supports Community-led objectives and initiatives and (ii) empowers the Communities to develop their capacity to take advantage of development opportunities and create a positive legacy beyond the lifespan of the Project.

Mayor of Beauval, Nick Daigneault, stated, "The Communities are very excited to enter into the Agreement with Denison, who fully understands our need to sustain our municipalities in Northern Saskatchewan for many years to come.  Each of our communities have limited pools of money to tap into and there is only so much tax revenue our communities can garner to tackle both the communities' aging infrastructure as well as important community needs.  By partnering with industry, our communities will be able to develop an additional fund that will grow over time and provide us with much needed financial support to see community projects become a reality. Denison has stepped-up to support our communities and I'm hopeful that the Agreement will lead the way as a shining example of how industry can work with our Northern Saskatchewan municipalities.  We are grateful for the discussions we have had with Denison's leadership team and the fact that they share, and are excited about, our vision for prosperous and sustainable communities."

David Cates, President & CEO of Denison, further added, "This Agreement builds upon a foundation of trust and respect established between Denison and the municipalities of Beauval and Île-à-la Crosse with the signing of a Memorandum of Understanding in 2018 and 2017, respectively.  As Wheeler River has progressed over the last several years, we have listened to, understood, and responded to the interests of the Communities.  This Agreement uniquely reflects the Communities' own vision for industry to support a positive legacy of sustainable northern communities.  We thank the Communities' leaders and constituents for their support and trust in Denison, and we look forward to a long and mutually beneficial relationship."

The Agreement with the Communities establishes commitments for funding to support community development initiatives, with consideration towards contributing to the current and future economic prosperity and sustainability of the Communities by promoting economic development and investments in capital projects, job creation and training, housing, education, and other initiatives.  The parties to the Agreement also acknowledge a common goal of facilitating qualified businesses and workers in benefitting from opportunities associated with the Project.  

In consideration for contributions to the Communities' initiatives, the Communities have provided their consent and support for the Project and have committed, amongst other things, to support all regulatory approvals issued for the Project related to exploration, evaluation, development, operation, reclamation, and closure activities.