NEW YORK, Jan 22, 2026, 08:59 EST — Premarket
Shares of Denison Mines Corp rose 1.9% to $3.75 in Thursday’s premarket session.
The surge in uranium stocks continues, fueled by new exploration news from Denison’s Saskatchewan holdings and a broader drive to secure nuclear fuel sources outside Russia. 1
Skyharbour Resources is gearing up for over 15,000 metres of diamond drilling in 2026 across multiple Russell Lake joint ventures with Denison. The winter program will focus on the Fox Lake Trail target on Wheeler North. CEO Jordan Trimble described the campaign as a “key near-term catalyst,” noting Denison will support the work as a funding partner. 2
Cosa Resources, partnering with Denison, outlined winter 2026 drilling plans for its Darby and Murphy Lake North joint ventures, holding 70% while Denison owns 30%. The company aims to drill about 2,500 metres at Darby and around 1,200 metres at Murphy Lake North. CEO Keith Bodnarchuk confirmed the team is “fully funded” for this work. 3
Both joint-venture sites lie within the Athabasca Basin, a uranium hotspot attracting steady investor attention thanks to its high-grade ore and proximity to existing infrastructure.
Denison, listed as DNN on NYSE American and DML on the TSX, is primarily recognized for its Wheeler River project in northern Saskatchewan.
Earlier this month, Denison announced it’s set to make a final investment decision and begin building its proposed Phoenix in-situ recovery (ISR) uranium mine, pending final regulatory green lights. The company expects construction to take about two years, aiming for first production by mid-2028. 4
On Jan. 8, Denison confirmed that grid power is now accessible at the future Phoenix site, thanks to a new 138-kV transmission line. The company said this development reduces risks tied to the construction plan—specifically work on the freeze wall around the initial mining area. 5
ISR is a mining technique that pumps a solution through an underground ore body, bringing uranium-laden fluid back to the surface for processing. Firms tout it for a smaller surface footprint compared to traditional mining, though it depends heavily on permits and strict groundwater and wellfield management.
That said, uranium stocks can shift fast. Drilling might come up short, schedules often slip, and as labour and gear get scarce, construction costs usually climb.
Investors are focused on one clear question: will the winter rigs arrive on time at Denison’s joint ventures, and can Phoenix secure the final approvals Denison needs before starting construction. 6
