Denison Mines to acquire uranium assets from International Enexco

|About: Denison Mines Corp (DNN)|By:, SA News Editor

Denison Mines (DNN +7.4%) signs a letter of intent to acquire uranium assets from International Enexco (IEXCF); DNN would buy all of Enexco's shares but spin off the copper assets, which will become part of a newly formed company.

Enexco's principal uranium assets include a 30% stake in the Mann Lake exploration project and a 20% stake in the Bachman Lake joint venture in Saskatchewan.

Also, DNN says it intersected high grade uranium mineralization at a new target area near the Phoenix deposit at Wheeler River in Saskatchewan; DNN is the operator and holds a 60% interest in the project, while Cameco (CCJ) holds a 30% stake.