TORONTO – Denison Mines Corp. has signed an agreement valued at up to $61.5 million deal to acquire stakes in several claims belonging to Skyharbour Resources Ltd..
Under the agreement, Skyharbour’s Russell Lake uranium project, located next to Denison’s Wheeler River project, will be divided into four joint properties: Russell Lake, Getty East, Wheeler North and Wheeler River Inliers.
Denison will acquire initial ownership interests in the properties of 20 per cent, 30 per cent, 49 per cent and 70 per cent, respectively. It has also been granted earn-in options that would allow it to increase its interests in the Getty East and Wheeler North properties up to 70 per cent.
The deal will see Denison pay Skyharbour $18 million including an initial cash payment of $2 million and deferred consideration of $16 million payable in cash or Denison shares in two tranches of $8 million.
Under the Getty East earn-in option, Dension must spend a total of $15 million on exploration over two phases to acquire the additional interest in the property.
The Wheeler North earn-in option requires Denison to spend a total of $25 million on exploration and pay Skyharbour an additional total of $3.5 million over two phases to earn the additional stake.
This report by The Canadian Press was first published Nov. 17, 2025.
Companies in this story: (TSX:DML, TSXV:SYH)
