Denison Mines reported the expansion of the high-grade A and B series lenses both down-dip and up-dip on the southwestern portion of the Gryphon deposit, located on the Company's 60% owned Wheeler River project in northern Saskatchewan.

A further four exploration drill holes have been completed at the Gryphon deposit, with each hole returning significant uranium intersections outside of the existing mineralized extent of the current mineral resources estimated for the Gryphon deposit.

Two of the exploration drill holes, located on 50 metre spaced sections and drilled approximately 50 metres down-dip from the previously delineated A and B series lenses, returned high-grade mineralization as follows:

Drill Hole WR-602D1

1.2% eU3O8 over 11.4 metres (from 692.7 to 704.1 metres), including

3.8% eU3O8 over 1.0 metres (from 693.2 to 694.2 metres), and

4.6% eU3O8 over 1.7 metres (from 699.4 to 701.1 metres)

Drill Hole WR-674

2.5% eU3O8 over 4.4 metres (from 744.8 to 749.2 metres), including

3.2% eU3O8 over 3.4 metres (from 745.5 to 748.9 metres)

Two additional exploration drill holes, located on 75 metre spaced sections and drilled approximately 50 metres up-dip from the previously delineated A and B series lenses, returned results as follows:

Drill Hole WR-673

1.1% eU3O8 over 1.0 metres (from 627.6 to 628.6 metres), and

0.27% eU3O8 over 10.8 metres (from 642.05 to 652.85 metres)

Drill Hole WR-675

1.36% eU3O8 over 1.0 metres (from 607.9 to 608.9 metres)

The abovementioned results are reported as radiometric equivalent U3O8 ("eU3O8") from a calibrated total gamma down-hole probe. Radiometric equivalent U3O8 results are preliminary in nature and all mineralized intervals will be sampled and submitted for chemical U3O8assay. The holes were drilled at a high angle to mineralization to allow for better evaluation of true thicknesses which are expected to be approximately 75% of the intersection lengths.

Dale Verran, VP Exploration of Denison commented, "The mineralized footprint around Gryphon continues to grow with ongoing drilling. As the summer 2016 drilling program wraps-up over the next couple of weeks, we are in the fortunate position of having the Gryphon deposit open in numerous areas with exciting future targets and encouraging potential for resource growth. As drill results come in from the summer program, our exploration team continues to plan for 2017, which is set to be another exciting year with the drill bit at a project that keeps delivering new and meaningful mineralization."

The Gryphon deposit is hosted in basement rock and is currently estimated to contain inferred resources of 43.0 million pounds U3O8 (above a cut-off grade of 0.2% U3O8) based on 834,000 tonnes of mineralization at an average grade of 2.3% U3O8. The current resource estimate, with an effective date of September 25th, 2015, includes the A, B and C series lenses defined from drilling campaigns in 2014 and 2015.

Exploration drilling at Wheeler River during 2016, which has focused on expanding the mineralization in the vicinity of the Gryphon deposit, has resulted in the discovery and expansion of the Gryphon D series lenses (see Denison's Press Release dated September 7, 2016) and the discovery of additional uranium mineralization down-dip and up-dip of the A and B series lenses reported herein. Table 1 provides highlight mineralized intersections from exploration drill holes WR-602D1, WR-673, WR-674 and WR-675.