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Denison Mines (TSX:DML,NYSEAMERICAN:DNN) has closed a beforehand introduced take care of Skyharbour Sources (TSXV:SYH,OTC:SYHBF) that repurposes a big block of uranium exploration floor surrounding its flagship Wheeler River challenge in northern Saskatchewan.
The construction is meant to advertise nearer technical collaboration between the 2 firms whereas advancing exploration throughout claims that sit alongside the identical geological corridors as Denison’s advanced-stage growth belongings.
Below the brand new preparations, Denison will function the Wheeler North and Wheeler River Inliers joint ventures, holding possession pursuits of 49 % and 70 %, respectively.
Skyharbour will function the Russell Lake and Getty East joint ventures, during which Denison holds minority pursuits of 20 % and 30 %. As well as, Denison has secured earn-in choice agreements that permit it to extend its possession in each Wheeler North and Getty East to as a lot as 70 %, topic to future circumstances.
The claims concerned had been beforehand consolidated underneath Skyharbour’s Russell Lake challenge, which borders Denison’s Wheeler River property.
The deal strengthens Denison’s already dominant place round Wheeler River, which is the most important undeveloped uranium challenge within the infrastructure-rich japanese Athabasca Basin.
The corporate at present holds an efficient 95 % curiosity in Wheeler River, which hosts the Phoenix and Gryphon deposits.
A feasibility examine accomplished in 2023 outlined Phoenix as an in-situ restoration operation, whereas an up to date examine for Gryphon evaluated standard underground mining.
Each deposits are anticipated to rank among the many lowest-cost uranium operations globally, primarily based on these research.
Regulatory momentum has additionally continued at Wheeler River. The challenge’s environmental evaluation obtained provincial approval from Saskatchewan in July 2025, and federal assessment superior with the conclusion of the Canadian Nuclear Security Fee’s public listening to in December.
Past Wheeler River, Denison maintains a broad portfolio throughout the Athabasca Basin, together with pursuits within the McClean Lake three way partnership in addition to stakes within the Midwest, Tthe Heldeth Túé, and Huskie deposits.
For Skyharbour, the transaction permits it to stay an lively operator on key exploration belongings close to Wheeler River whereas persevering with to advance its broader Athabasca Basin portfolio.
The corporate holds pursuits in 37 uranium initiatives protecting greater than 616,000 hectares, together with the Moore uranium challenge, situated east of Wheeler River, and the remaining Russell Lake floor now organized underneath three way partnership buildings.
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Securities Disclosure: I, Giann Liguid, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: Skyharbour Sources is a consumer of the Investing Information Community. This text is just not paid-for content material.
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