Denison Announces Agreements with Skyharbour Resources, Increasing Denison's Strategic Foothold Surrounding Wheeler River

Written by Emily J. Thompson, Senior Investment Analyst

Source: PRnewswire

Updated: Nov 17 2025

0mins

Source: PRnewswire

Denison Mines Acquires Interests in Russell Lake Project: Denison Mines Corp. has signed an agreement with Skyharbour Resources to acquire initial ownership interests in the Russell Lake Uranium Project, adjacent to Denison's Wheeler River Project, with ownership stakes ranging from 20% to 70% across four joint ventures.
Strategic Growth and Exploration Plans: The acquisition aims to enhance Denison's regional presence and exploration capabilities, allowing for collaboration with Skyharbour's technical teams and increasing the likelihood of successful uranium discoveries in the Athabasca Basin.
Financial Terms of the Agreement: Denison will pay a total of $18 million to Skyharbour, including an upfront payment of $2 million and deferred payments of $16 million, with the transaction expected to close by December 21, 2025.
Earn-In Options for Increased Ownership: The agreement includes options for Denison to increase its ownership in the Wheeler North and Getty East joint ventures to up to 70%, contingent on meeting specific exploration expenditure requirements over the coming years.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.