its all go crew :):) $$$

Now wheres the Knockers bring it on WCU WCUO :):) $$$



WHITE CANYON EXECUTES TOLL MILLING AGREEMENT WITH
DENISON MINES CORP
White Canyon confirms that based on the conditions in the toll milling
agreement the Daneros mine is viable even at current spot prices
3 year term with an optional two year extension, commencing January
2010
Ore processing of up to 55,000t per year.
US-focussed uranium producer White Canyon Uranium Limited (ASX: WCU) (White Canyon or the
Company) is pleased to announce that it has completed the negotiations over a treatment
agreement with Denison Mines Corp (TSX:DML, NYSE AMEX:DNN) (Denison), whereby Denison will
process all material produced from White Canyons owned and operated Daneros project in Utah.
White Canyon confirms that based on the conditions in the toll milling agreement the Daneros mine
is viable even at current spot prices.
The agreement has a three year term with an optional two year extension and commences in
January 2010. The earlier than expected execution of the Toll Treating Agreement concludes the
Companys participation in the Ore Purchase Programme with only the first ore lot sold to Denison.
Denison used samples from the first ore lot to conduct amenability tests and derive the processing
variables necessary for the completion of a Toll Milling Agreement.
Under the terms of the agreement, White Canyon will transport material produced to Denisons
White Mesa Mill for processing of up to 55,000 tons per annum. The Company will pay to Denison
the costs to mill its ore, a capital charge plus a toll milling fee per ton of ore, which will be partly
linked to the long-term uranium price.
Processing will be scheduled by Denison and first processing of Daneros ore is expected in H1 2011
allowing White Canyon to meet expected delivery dates in H2 2011.
Initial production is expected to be sourced from the Daneros mine, which is located approximately
100kms from the White Mesa complex and has been the source of material provided to date for
analysis to derive critical processing parameters in determining this toll milling agreement.
Additional production is expected to be sourced from the Companys Lark Royal, Geitus, Blue Jay,
Marcy Look and Yellow Cat projects, which are also in close proximity to the White Mesa Mill.
The total tonnage will be negotiated at the completion of each 12 month production period for the
subsequent full production year dependant on mill availability.
White Canyon Uranium Limited
ACN 115 453 962
181 Roberts Road, Subiaco, Western Australia
(PO Box 616, West Perth WA 6872)
Phone: 08 9381 9192 Fax: 08 9381 9525
2
Peter Batten, Managing Director of White Canyon, said This toll milling agreement with Denison is
testament to the fantastic work that our team has done over the past two years in transforming the
Company from an explorer at listing into a uranium producer. I wish to congratulate the team on
this significant accomplishment and am confident that they will continue to deliver on our
development and operational targets going forward.
The Toll Milling Agreement is paramount in the determination of the viability of the Companys
assets. Discussions with utilities can now be moved to the next level in regard to offtake volumes,
delivery timing and prices. With discussions held to date the Company expects to be selling into the
midterm market range.
This agreement provides the foundation for the acceleration of development of White Canyons
assets to fill the production levels required and allows the Company to manage the marketing of its
uranium production
For further information please contact:
Peter Batten
Managing Director & CEO
White Canyon Uranium Limited
Tel: +61 8 9381 9192
Em: [email protected]
David Tasker
Professional Public Relations
Tel: +61 89388 0944/ +61 433 112 936
Em: [email protected]
About White Canyon Uranium:
White Canyon is a US focussed uranium producer holding 100% interest in the advanced Thompson,
Daneros, Lark Royal, Geitus, Blue Jay and Marcy Look Projects in south-east Utah, comprising of over
12,000 acres of mining claims and mineral leases. The projects contain historically defined high
grade uranium deposits, however the deposits are not JORC compliant.
Website: www.whitecanyonuranium.com.au
About Denison Mines Corp:
Denison is a diversified, growth-oriented, intermediate uranium producer with three active mines in
the United States, and others in the US. The assets of Denison also include an interest in two of the
four licensed and operating conventional uranium mills in North America, with its 100% ownership
of the White Mesa mill in Utah and 22.5% ownership of the McClean Lake mill in Saskatchewan.
Both mills are fully permitted and operating, with Denisons 2008 production from the two mills
approximately 1.6 million pounds U3O8 and 1.2 million pounds vanadium.
Website: www.denisonmines.com
White Mesa