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Denison Announces Results of Shareholder Meeting

Press Release

TORONTO, May 4, 2022 – Denison Mines Corp. (“Denison” or the “Company”) (TSX: DML) (NYSE American: DNN) is pleased to report that the nominees listed in the management proxy circular dated March 23, 2022 (the “Circular”) for the Annual General Meeting of Shareholders held in Toronto today (the “Meeting “) were elected as directors of the Company.

The Company is also pleased to report that all other items of business presented to its shareholders at the Meeting, as more particularly described in the Circular, were approved.

Detailed results of the vote by proxy for the election of directors are set out below.

Nominee

Votes For

% For

Votes Withheld

% Withheld

David D. Cates

287,858,710

98.33

4,902,488

1.67

Brian D. Edgar

285,402,715

97.49

7,358,483

2.51

Ron F. Hochstein

214,886,081

73.40

77,875,117

26.60

Yun Chang Jeong

289,706,277

98.96

3,054,921

1.04

David Neuburger

290,406,734

99.20

2,354,464

0.80

Laurie Sterritt

290,203,425

99.13

2,557,773

0.87

Jennifer Traub

289,467,949

98.88

3,293,249

1.12

Patricia M. Volker

290,167,763

99.11

2,593,435

0.89

The Board of Directors (the “Board”), on recommendation of the Corporate Governance & Nominating Committee (after detailed review), approved the individuals nominated to shareholders for election to serve as directors of the Board and is confident of their suitability to serve on the Board and its Committees.  The Company was advised that proxy advisory firm Institutional Shareholder Services (“ISS”) recommended a “withhold” vote against Mr. Hochstein, which is believed to have impacted the voting results at the Meeting.  According to their reporting, ISS has taken the position that Mr. Hochstein is not independent due to his prior role as CEO of the Company 7 years ago.  Mr. Hochstein has served as President and CEO of Lundin Gold Inc. since 2014, resigning as CEO of the Company in March 2015.  It is the position of the Board that Mr. Hochstein’s prior executive positions with Denison do not interfere with his ability to exercise independent judgment as a member of Denison’s Board and that Mr. Hochstein is a highly valued member of the Board, providing the Company with the benefit of his many years of experience in governance and mining (including uranium exploration and mining operations).

The Company has provided more details on the results of all matters considered at the Meeting in its Report of Voting Results which has been filed under its profile on SEDAR at www.sedar.com and will be filed on EDGAR at www.sec.gov/edgar.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. Denison’s interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture, which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé (“THT,” formerly J Zone) and Huskie deposits on the Waterbury Lake property. Each of Midwest Main, Midwest A, THT and Huskie are located within 20 kilometres of the McClean Lake mill.

Through its 50% ownership of JCU (Canada) Exploration Company, Limited (“JCU”), Denison holds additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%). Denison’s exploration portfolio includes further interests in properties covering ~297,000 hectares in the Athabasca Basin region.

Denison is also engaged in post-closure mine care and maintenance services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison’s reclaimed mine sites in the Elliot Lake region and provides related services to certain third-party projects.

David Cates, President and Chief Executive Officer, (416) 979-1991 ext. 362; Mac McDonald, Exec. Vice President & Chief Financial Officer, (416) 979-1991 ext. 242; Follow Denison on Twitter @DenisonMinesCo

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