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DENISON MINES LIMITED REPORTS RESULTS

 TORONTO, Nov. 9 /PRNewswire/ -- Denison Mines Limited (Toronto: DEN.A)today reported a loss of $129,000 on revenue of $22,559,000 for the three months ended Sept. 30, 1993, compared with a profit of $1,792,000 on revenue of $27,324,000 for the third quarter of 1992.
 The net earnings for the nine months ended Sept. 30, 1993 were $266,000 on revenue of $72,054,000 compared with earnings of $35,796,000 on revenue of $136,221,000 in the first nine months of 1992.
 The financial results for the nine months ended Sept. 30, 1992 included pre-tax gains on the sale of various assets totaling $40,738,000.
 After provision for preferred share dividends in arrears, the results per participating share were losses of $0.07 for the third quarter of 1993 and $0.21 for the first nine months of the year, compared with a loss of $0.04 and earnings of $0.34, respectively, for 1992.
 The presentation of evidence in the arbitration of the dispute between the company and Ontario Hydro was completed on Nov. 5, 1993. Each side will summarize the evidence and will complete the presentation of its arguments on Dec. 10, 1993. The timing of the panel's decision cannot be predicted.
 A Federal/Provincial Panel for Saskatchewan uranium development recently recommended against development of the Midwest deposit and for a delay of at least five years in the development of the McClean Lake deposit. The company is undertaking a review of all the issues raised in the report.
 DENISON MINES LIMITED
 Consolidated Statement of Earnings
 (Unaudited, in thousands except per share data)
 Nine Months
 Third Quarter Sept. 30
 1993 1992 1993 1992
 Revenue $ 22,559 $ 27,324 $ 72,054 $ 136,221
 Operating and
 exploration costs 20,665 16,150 62,826 115,061
 General corporate
 expenses 1,328 1,744 5,726 7,426
 Interest expense 869 549 2,652 5,792
 Other (income) loss (549) 1,443 (2,070) (41,930)
 Total 22,313 19,886 69,134 86,349
 Earnings (loss) before
 income and mining
 taxes 246 7,438 2,920 49,872
 Income and mining taxes 375 5,646 2,654 14,076
 Net earnings (loss)
 for the period $ (129) $ 1,792 $ 266 $ 35,796
 Per participating share
 (after provision for
 cumulative Preferred
 Share dividends)
 Net earnings (loss)
 for the period $ (0.07) $ (0.04) $ (0.21) $ 0.34
 -0- 11/9/93
 /CONTACT: Bill James of Denison Mines Limited, 416-865-1991, or 416-865-1993/
 (DEN.A.)


CO: Denison Mines Limited ST: Ontario IN: MNG SU: ERN

TM -- NY136 -- 2502 11/09/93 18:19 EST
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Publication:PR Newswire
Date:Nov 9, 1993
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