McClean Lake

McClean Lake is a uranium project on the eastern edge of the Athabasca Basin, ~750 km north of Saskatoon, comprising 17 mineral leases/claims over 4,258 ha. Operated by Orano Canada under the McClean Lake Joint Venture (Denison 22.5%, Orano 77.5%). Hosts multiple uranium deposits — including McClean North (where SABRE commercial mining restarted July 2025), Sue D, Sue F (formerly Caribou), Sue E, plus the McClean South historical discovery (under further drilling 2025) and an ore stockpile. In 2025 on a 100% basis 4,392 tonnes of high-grade ore was extracted via SABRE (Denison share 988 t) producing 648,558 lb U3O8 (Denison share 145,926 lb) at average operating cash cost ~CA$36/lb (~US$26/lb) U3O8. The McClean Lake site is operated under a 10-year CNSC licence (valid to June 30, 2027) covering both McClean and Midwest, authorizing SABRE mining at McClean North and care-and-maintenance at Midwest.