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White Canyon Uranium: Denison Mines Corp pushes through 75% acceptances level

|Includes: The Western Union Company (WU)

White Canyon Uranium (ASX: WCU, TSX-V: WU) has been advised that Denison Mines Corp (TSE: DML) (NYSE AMEX: DNN) has now received acceptances of 170,364,776 shares in White Canyon Uranium.

This amounts to 74.87% of White Canyon’s shares on issue under Denison's off-market takeover.

The offer values White Canyon at A$57 million, a 51% premium over the 90 days of trading before a trading halt was announced.

A substantial shareholder of White Canyon, Ms Lulu Yu has accepted the Denison offer for her 27% holding.

Also included in the acceptances received by Denison are those from both of White Canyon’s substantial shareholders including Michael Shumway, the Operations Manager of White Canyon with a 20% holding.

Directors of White Canyon Uranium have informed Denison that they have now accepted the offer for all of their shares.

The Offer remains subject to certain defeating conditions, principally a 90% minimum acceptance condition.

The offer closes on Friday 10 June 2011, unless extended or withdrawn.