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DENISON REPORTS MODEST SECOND QUARTER PROFIT

 TORONTO, Aug. 6 /PRNewswire/ -- Denison Mines Limited reported a profit of $367,000 on revenue of $28,194,000 for the second quarter of 1993, compared with a loss of $2,118,000 on revenue of $35,155,000 for the second quarter of 1992.
 Net earnings for the six months ended June 30, 1993 were $395,000 on revenue of $49,495,000 compared with earnings of $34,004,000 on revenue of $108,897,000 for the first six months of 1992.
 The financial results for the six months ended June 30, 1992 included pre-tax gains on the sale of various assets totaling $40,066,000.
 After deducting preferred share dividends in arrears in the earnings calculation, the results per participating share were a loss of $0.07 for the second quarter of 1993 and a loss of $0.14 for the first half of the year, compared with losses of $0.11 and earnings of $0.38, respectively for 1992.
 Bill James, Denison's president and chief executive officer, said that "we are continuing to minimize our expenditures to conserve cash and stay within our credit lines."
 The arbitration of the Ontario Hydro dispute will recommence on Sept. 7, 1993 and should be completed by November, 1993. The timing of a decision thereafter cannot be predicted.
 Details of the results are as follows:
 DENISON MINES LIMITED
 Consolidated Statement Of Earnings
 (Unaudited, in thousands except per share data)
 Six Months Ended
 Second Quarter June 30
 1993 1992 1993 1992
 Revenue $ 28,194 $ 35,155 $ 49,495 $ 108,897
 Operating and
 exploration
 costs 27,995 32,045 42,161 98,911
 General corporate
 expenses 2,350 1,664 4,398 5,682
 Interest expense 274 2,189 1,783 5,243
 Other income (474) (1,156) (1,521) (43,373)
 30,145 34,742 46,821 66,463
 Earnings (loss)
 before income &
 mining taxes (1,951) 413 2,674 42,434
 Income and mining
 taxes (recovery) (2,318) 2,531 2,279 8,430
 Net earnings
 (loss) for
 the period $ 367 $ (2,118) $ 395 $ 34,004
 Per participating
 share (after provision
 for cumulative
 Preferred Share
 dividends)
 Net earnings (loss)
 for the period $ (0.07) $ (0.11) $ (0.14) $ 0.38
 -0- 8/6/93
 /CONTACT: Bryan Keeler, 416-865-1991, or 416-865-1994, for Denison Mines Limited/
 (DEN)


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

LD -- NY059 -- 0462 08/06/93 17:50 EDT
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Publication:PR Newswire
Date:Aug 6, 1993
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