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DENISON MINES LIMITED REPORTS LOSS

 DENISON MINES LIMITED REPORTS LOSS
 TORONTO, Feb. 26 /PRNewswire/ -- Denison Mines Limited today


reported a loss of $91,144,000 for the year ended Dec. 31, 1991, compared with a loss of $291,268,000 for 1990. Operating revenues were $322,912,000 for the year ended Dec. 31, 1991, compared to $315,922,000 in 1990.
 After cumulative preferred share dividends in arrears, the loss per participating share was $1.71 in 1991 compared to $2.94 a year earlier. The net loss per participating share was $1.71 in 1991 compared with $4.83 in 1990.
 The loss for 1991 includes a provision for Elliot Lake decommissioning and reclamation costs of $61,879,000 which brings the total provisions to $103,679,000, a loss of $22,632,000 on the sale of Denison's interests in the Egyptian oil fields, a $25,000,000 ceiling value write-down of the Company's interest in the Prinos/South Kavala oil and gas field and a $11,924,000 write-down of its interest in coal properties.
 Net cash generated by operating activities for the year ended Dec. 31, 1991, was $80,698,000 compared to $18,332,000 a year earlier.
 Details of the results in thousands, except per share data, are as follows:
 FOURTH QUARTER YEAR ENDED DEC. 31
 1991 1990 1991 1990
 Revenue $ 78,748 $ 90,888 $ 322,912 $ 315,922
 Operating Profit (16,848) 26,709 18,788 62,693
 (Loss)
 Earnings (Loss) (73,406) (78,640) (91,144) (169,519)
 from Continuing
 Operations
 Net Earnings
 (Loss) (73,406) (196,403) (91,144) (291,268)
 Per Participating
 share earnings:
 Continuing operations(1.22) (1.30) (1.71) (2.94)
 Net Earnings
 (Loss) (1.22) (3.14) (1.71) (4.83)
 Net Cash Generated
 by Operating
 Activities 20,972 31,266 80,698 18,332
 -0- 2/26/92
 /CONTACT: Bill James of Denison, 416-865-1991/
 (DEN.A.) CO: Denison Mines Limited ST: Ontario IN: MNG SU: ERN


KD -- NY085 -- 2999 02/26/92 17:11 EST
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Publication:PR Newswire
Date:Feb 26, 1992
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