The company will buy 100% of the issued and outstanding shares of White Canyon for a total consideration of approximately A$57m ($57.2m).
Denison said it believes that the acquisition of White Canyon will fit well into its US growth strategy.
Denison president and CEO Ron Hochstein said that the acquisition provides Denison additional control over its milling schedules and uranium production and will establish Denison in a new, fourth mining district, near its White Mesa mill, which has significant potential for immediate resource growth.
Denison is an intermediate uranium producer in North America, with mining assets in the Athabasca Basin region of Saskatchewan, Canada and the southwest US including Colorado, Utah and Arizona.
The company also has ownership interests in two uranium mills in North America.
