Denison Mines Corp. (TSX: DML, NYSE: DNN) will buy Fission Energy Corp. (TSX: FIS) in a stock transaction valued at $71 million.
The assets include a portfolio of uranium exploration projects, including Fission’s 60 percent interest in the Waterbury Lake uranium project, as well as the company’s exploration interests in the Athabasca Basin, two joint ventures in Namibia, plus Quebec and Nunavut assets. The Waterbury Lake project and Athabasca basin are located in Canada.
In July, Fission closed on its purchase of Pitchstone Exploration Ltd., also a uranium exploration company.
Toronto-based Denison Mines is a uranium exploration and development company with interests in exploration and development projects in Saskatchewan, Zambia and Mongolia.