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DENISON REPORTS THIRD QUARTER PROFIT OF $1.8 MILLION

 DENISON REPORTS THIRD QUARTER PROFIT OF $1.8 MILLION
 TORONTO, Oct. 26 /PRNewswire/ -- Denison Mines Limited today


reported a profit of $1.8 million on revenue of $27.3 million for the three months ended Sept. 30, 1992, compared with a loss of $19.7 million on revenue of $85.3 million for the third quarter of 1991.
 The net earnings for the nine months ended Sept. 30, 1992 were $35.8 million on revenue of $136.2 million compared with a loss of $17.7 million on revenue of $244.2 million in the first nine months of 1991.
 The financial results for the nine months ended Sept. 30, 1992 included pre-tax gains on the sale of various assets totalling $40.7 million.
 After provision for preferred share dividends in arrears, the results per participating share were a loss of $0.04 for the third quarter of 1992 and earnings of $0.34 for the first nine months of the year, compared with losses of $0.38 and $0.49, respectively, for 1991.
 Bill James, Denison's president and chief executive officer, said that "we are continuing to assert the company's claim against Ontario Hydro, to obtain government approvals for the safe, orderly and efficient decommissioning of the Elliot Lake mine, to seek approvals and to complete negotiations with Total Compagnie Miniere of France for the complementary development of the Saskatchewan uranium properties, to negotiate a revised tax regime for the Greek oil and gas assets, and to secure extended credit facilities with the company's leaders. The existing credit facility of $73.4 million, which will be fully utilized by Dec. 31, 1992, matures on Jan. 2, 1993."
 Details of the results are as follows:
 DENISON MINES LIMITED
 Consolidated Statement of Earnings (Loss)
 (In thousands except per share data - Unaudited)
 Periods ended Third Quarter Nine Months
 Sept. 30 1992 1991 1992 1991
 Revenue $27,324 $85,296 $136,221 $244,164
 Operating and
 exploration costs 16,150 76,185 115,061 208,528
 Operating profit 11,174 9,111 21,160 35,636
 Other income (loss) (1,443) (16,963) 41,930 (8,727)
 Total 9,731 (7,852) 63,090 26,909
 General corporate
 expenses 1,744 2,182 7,426 8,982
 Interest expense 549 4,685 5,792 16,218
 Earnings (loss)
 before income and
 mining taxes 7,438 (14,719) 49,872 1,709
 Income and
 mining taxes 5,646 4,936 14,076 19,447
 Net earnings (loss)
 for the period 1,792 (19,655) 35,796 (17,738)
 Per participating
 share (after provision
 for cumulative preferred
 share dividends)
 Net earnings (loss)
 for the period $(0.04) $(0.38) $0.34 $(0.49)
 -0- 10/26/92
 /CONTACT: Bill James, 416-865-1991 or 416-865-1993, for Denison Mines Limited/
 (DEN.) CO: Denison Mines Limited ST: Ontario IN: MNG SU: ERN


SM -- NY121 -- 5076 10/26/92 17:46 EST
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Date:Oct 26, 1992
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Attention Business/Financial Editors:
Third quarter company results are largely positive.
Briefly.

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