denison financing for omc purchase

DECEMBER 22, 2006 - 11:59 ET

Denison Announces Credit Facility with Scotia Capital

TORONTO, ONTARIO--(CCNMatthews - Dec. 22, 2006) -

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Denison Mines Corp. (TSX:DML) announced today that it has a commitment from Scotia Capital for a CDN$100,000,000 credit facility to provide temporary financing of its bid for up to 100% of the common shares of OmegaCorp Limited ("Omega") (ASX:OMC). The facility expires on April 30, 2007. Omega is an Australian traded mineral exploration company which has a portfolio of uranium projects in southern Africa, including the advanced stage Kariba Project in Zambia. Denison's Bidder's Statement to Omega shareholders is expected to be available in early January 2007.

Denison Mines Corp. is the premier intermediate uranium producer in North America, with mining assets in the Athabasca Basin Region of Saskatchewan, Canada and the southwest United States including Colorado, Utah, and Arizona. Further, the Company has ownership interests in two of the four uranium mills operating in North America today. The combination of a diversified mining asset base with parallel ownership of milling infrastructure in highly politically stable jurisdictions has uniquely positioned the Company for growth and development into the future. The Company also has a strong exploration portfolio with large land positions in the United States, Canada and Mongolia. Correspondingly, the Company has one of the largest uranium exploration teams among intermediate uranium companies.