GREENWOOD VILLAGE, COLORADO–(Marketwired – Aug. 12, 2016) – AZARGA URANIUM CORP. (TSX:AZZ)(FRANKFURT:P8AA)(OTC PINK:PWURF) (“Azarga Uranium” or the “Company”) has issued 2,139,715 common shares, as described below, to settle outstanding obligations. The issuance of the common shares to settle outstanding obligations is consistent with the Company’s strategy of preserving cash.

Further to the Company’s news releases on 19 May 2016 and 8 July 2016, the Company has issued:

• 56,995 common shares at a deemed price of C$0.60 per common share and 66,015 common shares at a deemed price of C$0.30 per common share to settle deferred compensation owing to three non-insider employees and one consultant in the amount of US$44,400;
• 1,140,626 common shares at a deemed price of C$0.60 per common share to settle US$532,800 of interest owing on the Company’s US$1.8 million convertible loan with certain shareholders. Two of the three shareholders are insiders of the Company, while the other shareholder has an arm’s length relationship with the Company; and
• 812,500 common shares at a deemed price of C$0.29 per common share as a bonus payment to certain insiders, employees and a former employee, who was an employee when the bonus payment was earned, of the Company.

In addition, the Company has issued 63,579 common shares at a deemed price of C$0.60 per common share to settle insider debts of US$29,699.

The issuance of the common shares is subject to final approval from the Toronto Stock Exchange. Of the common shares issued, 1,229,205 common shares are subject to a hold period expiring on December 13, 2016.

About Azarga Uranium Corp.

Azarga Uranium is a mineral development company that controls six uranium projects, deposits and prospects in the United States of America (South Dakota, Wyoming and Colorado) and the Kyrgyz Republic. The Dewey Burdock Project in South Dakota (the “Project”), which is the Company’s initial development priority, has received its Nuclear Regulatory Commission License and the Company is in the process of completing all other major regulatory permit approvals necessary for operation of the Project, including those from the Environmental Protection Agency and the South Dakota Department of Natural Resources.

Follow us on Twitter at @AzargaUranium.

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements may include, but are not limited to, statements with respect to the Company’s strategy to preserve cash and the Company’s continued efforts to obtain all major regulatory permit approvals necessary for operation of the Project. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: (1) the risk that such statements may prove to be inaccurate and (2) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Company’s most recent MD&A filed with Canadian security regulators.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

CALGARY, ALBERTA–(Marketwired – Aug. 15, 2016) – Perisson Petroleum Corporation (“Perisson” or the “Company“) (TSX VENTURE:POG) is pleased to announce that it has agreed to an assignment from Forent Energy Ltd. (the “Assignor“) of the right to acquire oil and gas assets in the Ribstone area of Alberta and the Success area of Saskatchewan (the “Acquisition“).

The Acquisition will consist of a 10% interest in McLaren and Sparky oil pools at Ribstone, Alberta, and a 10% interest in a Roseray oil pool at Success, Saskatchewan. The Ribstone and Success pools are not currently producing and have 5 wells and 2 wells respectively on the properties, which were suspended from production due to low oil prices in the last 16 months.

The Alberta Energy Regulator has assigned 6 million barrels of oil in place to the Ribstone pool, and, to date, only 5% of this oil has been recovered. Upon closing of the Acquisition, Perisson will become operator of the properties and intends to improve the operating efficiencies at Ribstone by recompleting one of the existing wells, or by drilling a new well, to provide onsite water disposal and reduce the current operating expenses.

The Assignor has identified 10 future McLaren well locations and 8 Sparky well locations which it believes can be placed on production for less than $15,000/BOE/day. Perisson will evaluate the merits of this proposed program, and proceed with drilling of new wells upon the recovery of oil prices.

The Success project has two existing Roseray wells which require the installation of high-volume bottom hole pumps and the conversion of a third well to water injection as part of the improvement in operating efficiency which is planned by Perisson.

As part of the terms of the Acquisition, Perisson will have the right to acquire a further 40% working interest in both the Ribstone and Success properties, upon evaluation of the results obtained by improving the operating costs or the drilling of additional wells. The acquisition price for the additional 40% working interest will be based on a 20% premium to the original purchase price plus the proportionate 40% share of the remediation expenditures which are to be incurred after Perisson becomes the operator. The Perisson option to acquire this additional interest must be exercised within 120 days of the remediation activities and first production from the existing wells.

About Perisson Petroleum Corporation

On July 21, 2016, Perisson Petroleum Corporation commenced trading on the TSX-V under the symbol “POG”. The Company holds a 100% working interest in 39,927 hectares (almost 100,000 acres) known as the VMM-17 block, a license located in the prolific, stable, oil-producing region of the Middle Magdalena Basin in central Colombia. The Corporation also maintains a beneficial interest in certain oil and gas producing properties (approximately 200 boe/d) in the Twining area of Alberta, Canada. The Corporation’s objectives are to explore, exploit and produce oil from its growing interests in the Western Canada Sedimentary Basin as well as the relatively shallow reservoirs believed to be within the VMM-17 block.

FORWARD-LOOKING STATEMENTS

This news release includes certain information, with management’s assessment of Perisson’s future plans and operations, and contains forward-looking statements which may include some or all of the following: (i) anticipated production rates; (ii) expected results of capital programs; (iii) expected timelines for production optimization; (iv) net debt levels; (v) anticipated operating costs; and (vi) expected capital projects and associated spending; which are provided to allow investors to better understand the Company’s business. By their nature, forward-looking statements are subject to numerous risks and uncertainties; some of which are beyond Perisson’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, changes in environmental tax and royalty legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, and other risks and uncertainties described under the heading ‘Risk Factors’ and elsewhere in the Company’s Management Discussion and Analysis and other documents filed with Canadian provincial securities authorities and are available to the public at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The principal assumptions Perisson has made includes security of land interests; drilling cost stability; finance and debt markets continuing to be receptive to financing the Company, the ability of the Company to monetize non-core assets and industry standard rates of geologic and operational success. Actual results could differ materially from those expressed in, or implied by, these forward-looking statements. Perisson disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For more information on the Company, Investors should review the Company’s registered filings which are available at www.sedar.com.

Barrel (“bbl”) of oil equivalent (“boe”) amounts may be misleading particularly if used in isolation. All boe conversions in this report are calculated using a conversion of six thousand cubic feet of natural gas to one equivalent barrel of oil (6 mcf=1 bbl) and is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Trading in the securities of Perisson Petroleum Corporation should be considered highly speculative. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

OTTAWA, ONTARIO–(Marketwired – Aug. 15, 2016) – Everton Resources Inc. (“Everton” or the “Company“) (TSX VENTURE:EVR) is pleased to announce that it has completed the initial field program on its Blue Sky Jackpot Lithium Property in the Thunder Bay Mining District of Ontario approximately 150 kilometers northeast of Thunder Bay.

The purpose of the program was to evaluate historical references to pegmatite outcrops on the Blue Sky Jackpot Lithium Property and to take samples to establish if the referenced pegmatites are lithium bearing.

The program has exceeded expectations and has resulted in a two kilometer trend about 300 meters wide consisting of several distinct outcrop areas individually comprised of pegmatite and spodumene bearing pegmatite. In some cases, the pegmatite outcrops are situated in distinct subcrop trends that infer continuity in excess of 200 meters. Many of these areas have previously been identified by E. G. Pye, 1965, “Geology and Lithium Deposits of the Georgia Lake Area, Thunder Bay District” Geological Report No. 31. The field program encountered all of the outcrops that were reported to exist and visually encountered spodumene where reported historically. Additional several new outcrops of spodumene bearing pegmatite were also encountered. Thirty eight samples of bedrock material have been submitted for analysis to confirm the presence of lithium in the pegmatites.

Everton is also pleased to report acquisition through staking of an additional 720 hectares (four claim groups comprised of 45 claim units) that have been recorded at the Ministry of Northern Development and Mines. These claims groups are located to add additional Blue Sky exploration potential to the property.

Everton’s Blue Sky Jackpot Lithium property surrounds the Jackpot Occurrence, a small four claim unit group in the center of the Everton property that is also described by E. G. Pye in his 1965 report as reportedly hosting a historic non-compliant resource of 2 million tons of 1.09% lithium oxide.

Assay results have been submitted on a rush basis results will be released on receipt. If warranted by the results Everton will immediately commence the permitting process to further develop the property. The thrust of additional work will have the immediate goal of assigning continuity and grade to the lithium bearing pegmatites, and will likely take the form of stripping – washing outcrop areas, followed by channel sampling and bulk sampling.

The technical content of this release was reviewed by Wade Kornik, P.Geo., a qualified person as defined by the National Instrument 43-101.

About Everton Resources Inc.

Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world’s two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) (“Goldcorp”). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton’s interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp’s Eleonore gold deposit. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.

For further information on Everton Resources Inc., please visit:

www.evertonresources.com

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton’s plans, objectives, strategies, expectations and intentions. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton’s actual results, performance or achievements to be materially different any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton’s views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the map accompanying this press release, click on the following link: http://media3.marketwire.com/docs/Everton_Resources_aug15_2016_fig01.pdf

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 12, 2016) – Skyharbour Resources Ltd. (TSX VENTURE:SYH)(OTC:SYHBD)(FRANKFURT:SC1N) (the “Company”) is pleased to announce the closing of a non-brokered private placement of $2,468,655 and the Company has been granted exchange acceptance for the option to acquire 100% of Moore Lake uranium project from Denison Mines (TSX: DML).

Further to Skyharbour Resources’ two news releases both dated July 14, 2016, it has closed its non-brokered private placement to raise gross proceeds of CDN $2,468,655. Due to strong response from investors, the Company increased its non-brokered private placement financing to $2,468,655 from the initially targeted $1,950,000. The amended financing will be completed through the issuance of up to 16,457,700 units (the “Units”) at a price of $0.15 per unit. Each Unit consists of one common share and one non-transferable share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one common share for a period of five years at a price of $0.27 per share.

In connection with the financing, Skyharbour issued a total of 575,169 units to finders (the “Finder’s Units”) who introduced certain subscribers to the private placement. Each Finder’s Unit will entitle the finder to purchase, for a period of two years, a Finder’s Unit on the same terms as the private placement Unit. The Company also paid to finders a cash total of $86,275.35 in connection with this financing. The Unit Shares and Warrants issued under the private placement and any shares issued pursuant to the exercise of the Warrants and Finder’s Units are subject to a four month and one day hold period under applicable securities laws and imposed by the TSX Venture Exchange.

Skyharbour has been granted exchange acceptance, as announced in the July 14, 2016 news release, on securing the option to acquire 100% of Moore Lake uranium project from Denison. The 35,705 hectare Moore Lake Project is an advanced uranium exploration property strategically located in the eastern portion of the Athabasca Basin region, which is known for its large scale and high grade uranium deposits and producing uranium mines. Previous exploration efforts on the property discovered high grade uranium mineralization highlighted by drill hole ML-61, which intersected 4.03% eU₃O₈ over 10 metres at the Maverick Zone. The depth to the unconformity on the property is relatively shallow and significant additional discovery potential remains over several conductive trends.

As part of the Option Agreement, Skyharbour has issued 4,500,000 common shares to Denison, subject to a four month and one day hold period under applicable securities laws and imposed by the TSX Venture Exchange. Skyharbour will also make staged cash payments over five years totaling $500,000 to Denison as well as incur $3,500,000 in exploration expenditures over five years to complete its acquisition of a 100% interest in the property.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Lake Uranium Project which is located 20 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore Lake is an advanced stage uranium exploration property with over $30 million in historical exploration, 370 drill holes, and a high grade zone known as the Maverick Zone with drill results including 4.03% e U3O8 over 10 metres at a depth of 265 metres. The Company owns a 100% interest in the Falcon Point (formerly Way Lake) Uranium Project on the eastern perimeter of the Basin which hosts an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. Skyharbour also has a 50% interest in the large, geologically prospective Preston Uranium Project proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco with partners Denison Mines and AREVA, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

To find out more about Skyharbour Resources Ltd. (TSX VENTURE:SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

Jordan Trimble, President and CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

CALGARY, ALBERTA–(Marketwired – Aug. 10, 2016) –

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company“) (TSX:PNE) is pleased to announce that it has completed its semi-annual borrowing base redetermination and has renewed its credit facilities with its banking syndicate of Canadian Financial Institutions (the “Syndicate“). In addition, Pine Cliff has closed a private placement of units (“Units“) for gross proceeds of $30 million (the “Private Placement“). Pine Cliff is also pleased to announce its second quarter financial and operating results. Included in the filings were Pine Cliff’s condensed consolidated interim financial statements and related management’s discussion and analysis for the three and six months ended June 30, 2016 (the “Q2-Report“). Selected highlights are shown below and should be read in conjunction with the Q2-Report.

Borrowing Base Redetermination
The Company has entered into a Restated Credit Agreement with the Syndicate for an $85 million revolving credit facility, consisting of a $75 million revolving credit facility and a $10 million revolving operating facility (the “Credit Facility“). The Credit Facility has a 364 day revolving period maturing July 28, 2017 and if it is not renewed it will convert to a 1 day term loan due on July 29, 2017. Details of the Credit Facility interest can be found in the Q2-Report. The next date for Pine Cliff’s borrowing base redetermination will be March 31, 2017.

Private Placement
In conjunction with the Credit Facility renewal, Pine Cliff has completed a private placement of an aggregate of 30,000 Units to Alberta Investment Management Corporation (“AIMCo“), on behalf of certain of its clients, at a price of $1,000 per Unit for aggregate gross proceeds of $30 million. Each Unit is comprised of: (i) one promissory note (a “Note“) with a par value of $1,000 per Note and bearing interest at 6.75% per annum, which is payable semi-annually; and (ii) 150 common share purchase warrants (“Warrants“). The proceeds from the Private Placement will be used to reduce the bank indebtedness of the Company.

The Notes mature on September 30, 2020 and all or a portion of the principal amount outstanding thereunder can be repaid without penalty after one year. Pine Cliff issued 4.5 million Warrants in connection with the Private Placement, with each Warrant entitling the holder to purchase one common share of Pine Cliff for $1.38 until August 10, 2018, which reflects a 45% premium to the 10-day weighted average trading price of the common shares of the Company prior to, and including, the date of closing of the Private Placement.

Desjardins Capital Markets acted as financial advisor to Pine Cliff on the Private Placement.

Non-Core Asset Sale Update
The previously announced non-core oil asset sale for gross proceeds of $5.5 million (the “Disposition“) is now anticipated to close on or before August 31, 2016. The proceeds of the Disposition will be used to pay down the Credit Facility.

Second Quarter 2016 Highlights
The second quarter was a difficult quarter for the industry. Pine Cliff continues to pride itself on being one of the lowest cost operators in the industry, but could not avoid having negative funds flow from operations this past quarter. Despite the difficult quarter, Pine Cliff still managed the following highlights:

• Strengthened its balance sheet, repaying $23.6 million in bank debt through the sale of the royalty assets and investments in public companies;
• Continued to be one of the lowest cost operators in the industry by maintaining low operating costs of $9.66 per BOE and reducing G&A expenses to $0.87 per Boe (a 48% decrease from the same quarter in the previous year);
• Increased production by 92% to 22,647 Boe/d (92% gas) from 11,814 Boe/d (95% gas) in the second quarter of 2015, representing a 48% increase on a basic per share basis. Despite shutting in approximately 300 boe/d of uneconomic production and deferring non-essential repairs, production continues to perform well in all areas with an estimated corporate decline rate of approximately 10%; and
• Despite AECO pricing of $1.32 per Mcf compared to the second quarter of 2015 of $2.52 per Mcf, and without the use of hedges, minimized funds used in operations to only $3.7 million.

Outlook
Pine Cliff is proud that it reduced its Syndicate exposure by $100 million since the beginning of the second quarter without an equity issuance. At the same time, Pine Cliff added another strong investment partner, through the Private Placement to AIMCo, that shares Pine Cliff’s long term view on the viability of its business model. On August 31, 2016, Pine Cliff expects its total debt to be approximately $120 million and the bank debt to be approximately $80 million after considering the previously announced $11 million subordinated debt to insiders, the Notes announced today and the proceeds from the Disposition.

As Pine Cliff enters the third quarter, natural gas prices have recovered substantially due to warmer weather and reduced drilling activity. With a corporate break-even gas price of approximately $1.75 per Mcf (before capital expenditures), Pine Cliff is again generating positive funds flow from operations. With one of the highest sensitivities to natural gas prices in the industry and with natural gas demand continuing to increase, Pine Cliff is well positioned to provide shareholders with increased exposure to a rising natural gas pricing environment.

Pine Cliff’s goal has always been to deliver long term value to shareholders by acquiring operated, low decline natural gas assets with long reserve life and low operating costs. The nine acquisitions that it has executed in the last 4.5 years have put the Company in a strong position to achieve this goal. The Company’s focus is the long term generation of free cash flow, and with a corporate production decline rate of approximately 10% and an extensive inventory of drilling locations, Pine Cliff believes in the sustainability of its business model for years to come.

Financial and Operating Results¹

About Pine Cliff
Pine Cliff is a natural gas company with a long-term view of creating shareholder value. Pine Cliff’s current focus is on acquiring long life assets that are cash flow positive in a low commodity price environment. Further information relating to Pine Cliff, including the Q2 Report, may be found on www.sedar.com as well as on Pine Cliff’s website at www.pinecliffenergy.com. To request a hard copy, free of charge, please send an email to info@pinecliffenergy.com.

About Alberta Investment Management Corporation
Alberta Investment Management Corporation, AIMCo, is one of Canada’s largest and most diversified institutional investment manager with more than $90 billion of assets under management. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 31 pension, endowment and government funds in the Province of Alberta. For more information on AIMCo please visit www.aimco.alberta.ca.

Cautionary Statements
Certain statements contained in this news release include statements which contain words such as “anticipate”, “could”, “should”, “expect”, “seek”, “may”, “intend”, “likely”, “will”, “believe” and similar expressions, statements relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. In particular, this news release includes, but is not limited to: oil and natural gas prices; oil and gas supply and demand; expansion and other development trends of the oil and natural gas industry; business strategy and outlook; expansion and growth of our business and operations; maintenance of existing customer, supplier and partner relationships; supply channels; accounting policies; credit risks; break-even point;anticipated use of the net proceeds of the Disposition and the anticipated closing date of the Disposition; estimated approximate bank debt and estimated approximate total debt. The foregoing statements assume all the conditions, including applicable regulatory approvals and to completion of the Disposition will be satisfied. There is no assurance that all of the conditions to the Disposition will be met and therefore there is a risk that the Disposition will not be completed in the form described above or at all. In the event the Disposition does not close as presently anticipated, Pine Cliff will not realize the anticipated benefits of the Disposition. As such, many factors could cause the performance or achievement of Pine Cliff to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Because of the risks, uncertainties and assumptions contained herein, readers should not place undue reliance on these forward-looking statements.

All such forward-looking information is based on certain assumptions and analyses made by us in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and may include, without limitation: foreign exchange fluctuations; equipment and labour shortages and inflationary costs; general economic conditions; industry conditions; changes in applicable environmental, taxation and other laws and regulations as well as how such laws and regulations are interpreted and enforced; the ability of oil and natural gas companies to raise capital; the effect of weather conditions on operations and facilities; the existence of operating risks; volatility of oil and natural gas prices; oil and gas product supply and demand; risks inherent in the ability to generate sufficient cash flow from operations to meet current and future obligations; increased competition; stock market volatility; opportunities available to or pursued by Pine Cliff; and other factors, many of which are beyond the Company’s control. The foregoing factors are not exhaustive.

Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do, what benefits will be derived there from. Except as required by law, Pine Cliff disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Certain information contained herein is based on Pine Cliff internal estimates. Although Pine Cliff believes such information is accurate and reliable, at this time such information has not been verified by any independent sources and Pine Cliff does not make any representations as to the accuracy of such estimates.

The forward-looking information contained in this release is expressly qualified by this cautionary statement.

CALGARY, ALBERTA–(Marketwired – Aug. 11, 2016) – Further to the announcement dated August 10, 2016, Bacanora Minerals Ltd. (TSX VENTURE:BCN)(AIM:BCN), the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces that it has obtained an amended interim order from the Alberta Court of Queen’s Bench to postpone its upcoming annual and special meeting of its shareholders from August 15, 2016 to 10:00 a.m. (Calgary time) on September 28, 2016 at the offices of Gowling (WLG) Canada LLP at 1600, 421 – 7 Avenue SW, Calgary, Alberta, Canada.

The Company intends to post to shareholders shortly an addendum to the management information circular of the Company dated July 11, 2016 and an amended form of proxy for voting at the postponed meeting.

ABOUT BACANORA:

Bacanora is a Canadian and London listed minerals explorer (TSX VENTURE:BCN)(AIM:BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium and borates. The Company’s operations are based in Hermosillo in northern Mexico and it currently has two significant projects under development in the state of Sonora. The two main assets of Bacanora are:

• The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101″)) of 4.46 Mt LCE contained in 259 Mt of clay at a Li grade of 3,200 ppm and an Inferred Mineral Resource of 2.74 Mt LCE contained in 160 Mt of clay at a Li grade of 3,200 ppm.
• The Magdalena Borate Project, in Sonora state, Mexico, where the Company’s main borate zone, El Cajon, has an Indicated Resource (in accordance with NI 43-101) of 1.17 Mt of B₂O₃, at an eight percent cut-off grade. The Company has completed a number of measures to determine the geological and commercial potential of the project and is undertaking a prefeasibility exercise to determine the economic benefit of developing the mine and constructing a processing plant on site in order to become a supplier of boric acid.

Reader Advisory

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 11, 2016) – Lithium Americas Corp. (the “Company” or “LAC”) (TSX:LAC)(OTCQX:LACDF) is pleased to announce the appointment of Myron Manternach as Executive Vice President, Finance and Corporate Development, effective immediately.

Mr. Manternach has over 20 years of experience in corporate finance, mergers and acquisitions, and investment management. He worked as an investment banker at JPMorgan Chase & Co. and as an analyst and manager of global alternative investment funds with significant experience in natural resources and emerging market credit and equity. Most recently he was a Managing Director and Senior Portfolio Manager of Ambac Assurance Corp., a subsidiary of Ambac Financial Group. He is chairman of Wellgreen Platinum Ltd. and was previously a director of Lithium Americas Corp. prior to its merger with Western Lithium. Mr. Manternach holds a BS degree in Electrical Engineering with distinction from Iowa State University and an MBA from the Wharton School of the University of Pennsylvania.

In March of this year, Lithium Americas announced a joint venture to develop the Cauchari-Olaroz lithium project in the Jujuy province of Argentina with Sociedad Química y Minera de Chile S.A. (“SQM”). Discussions with financial advisors and a wide range of potential investors have commenced and various financing paths are being explored. Among other duties, Mr. Manternach is expected to represent LAC in these upcoming financing discussions.

Tom Hodgson, Chief Executive Officer of LAC, commented. “We welcome Myron to the senior executive team at LAC. We have known Myron for years, and his skill set, experience and network of global relationships is perfectly suited to make an immediate contribution to our JV team on financing related matters. The Cauchari project is on the eve of representing significant employment and investment into the province of Jujuy that will benefit the province for generations, and Myron’s appointment is an important commitment to that effort.”

About the Company

The Company is developing the Cauchari-Olaroz lithium project, located in Jujuy province, Argentina, and the Lithium Nevada project (formerly Kings Valley project) in Nevada, USA, with the intent to become a major supplier of lithium products. In addition, Lithium Americas is a supplier of specialty drilling additives, Hectatone™ and other organoclay products for the oil and gas and other industries.

Forward-looking statements

Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company’s periodic filings with Canadian securities regulators. When used in this document, the words such as “explore,” “believe”, “intent” and similar expressions is forward-looking information. Information provided in this document is necessarily summarized and may not contain all available material information.

All such forward-looking information and statements are based on certain assumptions and analyses made by Lithium Americas management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Lithium America’s most recently filed Annual Information Form. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.

TORONTO, ONTARIO–(Marketwired – Aug. 11, 2016) – Appia Energy Corp. (the “Company” or “Appia“) (CSE:API) is pleased to announce that it has engaged Palisade Global Investments Ltd., (“Palisade“) for a period of eighteen (18) months to serve as advisory consultants to Appia in the United States, Canada and Europe.

About Palisade Global Investments Ltd.

Palisade Global is an offshore merchant bank and has extensive experience in creating effective strategies and introducing its clients to financial market participants including high net worth individuals, retail brokers, analysts, private equity funds and alternative financing groups, primarily increasing exposure and attracting new shareholders as well as making introductions for future rounds of equity financing. Palisade works through direct meetings, conference calls, newsletter writers, email dissemination of the Company’s news, and assists in the corporate presentation materials. Palisade has staff in major locations in North America and in Europe to facilitate the organization of corporate presentations in each locale.

About Appia

Appia is a Canadian publicly-traded company in the uranium and rare earth sectors. The company has NI 43-101 compliant resources of 8.0 M lbs U3O8 and 70.8 M lbs REO Indicated, and 47.7 M lbs U3O8 and 197.6 M lbs REO Inferred in the Elliot Lake, ON, historic mining camp. The resources are largely unconstrained along strike and down dip.

The company is also focusing on discovering high-grade uranium in the prolific Athabasca Basin on its recently acquired properties, “Otherside” and “Loranger”, as well as delineating high-grade REO’s and uranium on its Alces Lake joint venture. The company controls exploration rights on about 84,000 hectares in Saskatchewan.

Appia’s technical team is directed by James Sykes, who has had direct and indirect involvement with over 350 M lbs. U3O8 being discovered in five deposits in the Athabasca Basin.

Appia currently has 43.0 million common shares outstanding, 46.0 million shares fully diluted.

The technical content concerning the property in this news release was reviewed and approved by Thomas Skimming, P.Eng, a Director of Appia, and a Qualified Person as defined by National Instrument 43-101.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

THUNDER BAY, ONTARIO–(Marketwired – Aug. 10, 2016) – Alset Energy Corp. (TSX VENTURE:ION) (“Alset” or “the Company”) is pleased to announce the appointment of Mr. Timothy S. Oliver, PE, P.Eng. as President and Chief Executive Officer of Alset Energy Corp. In addition, Mr. Oliver will be joining the Board of Directors. Mr. Stephen Stares will step down as the current President and CEO in order to focus his efforts as President and CEO of Benton Resources Inc. but will remain a director of the Company.

As previously announced (see Alset PR May 26, 2016), Mr. Oliver has extensive experience not only in Mexico but also in the lithium space having served as VP of Project Development for Lithium X Energy Corp. until February of this year.

Stephen Stares, co-founder and outgoing President and CEO stated, “Tim initially joined our team to lead the Mexican Lithium Salar project development. His vast experience, perspective and ability to quickly assess and analyze the project was quite apparent and it was clear that Tim possessed the necessary skills to lead Alset moving forward. Tim’s extensive and multifaceted career in mining as well as his experience with lithium brines makes him an ideal CEO for Alset and we feel very fortunate that he has agreed to assume this role. We feel confident that Alset is in good hands and are excited for Tim to lead us to success in the future.”

Tim Oliver commented, “I am thrilled to assume this leadership position at Alset. Given both my passion for the lithium space and my experience operating in Mexico, developing a completely new lithium brine district in the Central Mexican Plateau is an exciting prospect. The promise of potash production adds further potential shareholder value given the current lack of domestic supply in Mexico. In addition, the spodumene-rich Wisa Lake lithium project has significant potential and a targeted shallow diamond drill program should allow us to not only start delineating tonnage on the original showing but begin to present a third dimension to the other lithium-rich zones as well. Stephen and his team have done a tremendous job acquiring very attractive assets in Alset thus far and I look forward to strategically advancing these prospects towards development in the future.”

Pursuant to Mr. Oliver’s appointment to the Board of Directors of the Company, Mr. Michael Stares has resigned from the Board and will remain in an advisory role with the Company. Mr. Stares has been instrumental as a director of the Company since its inception. Alset would like to thank Michael for his past service and wishes him success in the future.

Alset is well funded and recently announced a non-brokered private placement to raise up to $2 million (see PR July 29, 2016).

On behalf of the Board of Directors of Alset Energy Corp,

Stephen Stares, President

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements”.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.

CALGARY, ALBERTA–(Marketwired – Aug. 10, 2016) – BACANORA MINERALS LTD. (“Bacanora” or the “Company“) (TSX VENTURE:BCN)(AIM:BCN), the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces that the Company will be postponing its upcoming annual and special meeting of its shareholders (the “Meeting“) on August 15, 2016 until September 28, 2016 (the “Postponement“). The Company decided on the Postponement in connection with the recent passing of Hon. Colin Orr-Ewing, a Non-Executive Director on August 3, 2016.

Hon. Colin Orr-Ewing was one of the director nominees and was one of the proxy appointees of the Company. The Company intends to seek an amended interim order from the Alberta Court of Queen’s Bench regarding the new date of the Meeting and will be mailing out an addendum to the management information circular of the Company dated July 11, 2016 and an amended form of proxy to reduce the number of directors from seven to six, to remove Hon. Colin Orr-Ewing as a director nominee and to appoint an alternate proxy appointee.

ABOUT BACANORA:

Bacanora is a Canadian and London listed minerals explorer (TSX VENTURE:BCN)(AIM:BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium and borates. The Company’s operations are based in Hermosillo in northern Mexico and it currently has two significant projects under development in the state of Sonora. The two main assets of Bacanora are:

• The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101″)) of 4.46 Mt LCE contained in 259 Mt of clay at a Li grade of 3,200 ppm and an Inferred Mineral Resource of 2.74 Mt LCE contained in 160 Mt of clay at a Li grade of 3,200 ppm.
• The Magdalena Borate Project, in Sonora state, Mexico, where the Company’s main borate zone, El Cajon, has an Indicated Resource (in accordance with NI 43-101) of 1.17 Mt of B₂O₃, at an eight percent cut-off grade. The Company has completed a number of measures to determine the geological and commercial potential of the project and is undertaking a prefeasibility exercise to determine the economic benefit of developing the mine and constructing a processing plant on site in order to become a supplier of boric acid.

Reader Advisory

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 8, 2016) –

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

Ultra Lithium Inc. (“Ultra Lithium” or the “Company“) (TSX VENTURE:ULI) is pleased to announce that Mr. Afzaal Pirzada has been appointed as the Company’s Vice President Exploration.

Afzaal Pirzada is a professional geoscientist with over 30 years’ experience in mineral exploration and mining with expertise in lithium and rare metals, graphite, PGE and uranium. Throughout his career, he has managed multiple exploration projects in various jurisdictions across Canada, USA and internationally. He has worked as Project Geologist, VP Exploration, Director and CEO of Adriana Resources, Rock Tech Lithium and various other mining companies. He has discovered one graphite deposit in Quebec, and successfully developed a lithium project in Ontario from early stage exploration to advanced exploration. He is registered as a professional geoscientist with the Association of Professional Engineers and Geoscientists of British Columbia, Canada, authored several NI 43-101 technical and exploration work assessment reports, and has worked as a “Qualified Person” on mineral exploration projects. He is currently engaged in the exploration of Ultra Lithium’s brine lithium project at the South Big Smoky Valley in Nevada, USA, and hard rock lithium project at the Georgia Lake pegmatites in Northwestern Ontario, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS,

Kiki Smith, CFO

About Ultra Lithium Inc.

Ultra Lithium is an exploration and development company with a focus on the acquisition and development of lithium assets. The Company is currently focused on North American acquisitions and exploring its Georgia Lake and South Big Smoky Valley Projects.

For further information, please visit www.ultralithium.com or view the Company’s filings at www.SEDAR.com.

DENVER, CO–(Marketwired – August 05, 2016) – Key Link Assets Corp. (OTCQB: KYLK), an independent oil and gas exploration company engaged in the acquisition and development of oil and natural gas properties in the Rockies and Mid-Continent, announced today that the Financial Industry Regulatory Association [FINRA] confirmed the below listed corporate actions requested by us:

• Daily List Announcement Date: August 4, 2016
• New Name: Foothills Exploration, Inc.
• New Symbol: FTXP
• New CUSIP: 34512J108
• Market Effective Date: August 5, 2016

“The new name — Foothills Exploration, Inc. — allows us to emphasize that we are engaged in the acquisition and development of producing oil and gas properties,” said B.P. Allaire, Interim Chief Executive Officer of Foothills Exploration, Inc. “We are committed to continue with our acquisition of distressed and undervalued oil and gas assets that, in our opinion, will create shareholder value.”

About Foothills Exploration, Inc.

Foothills Exploration, Inc., (“FTXP”) through its wholly owned subsidiary Foothills Petroleum, Inc., a Nevada corporation (“Foothills”), is an early stage, independent oil and gas exploration and development company engaged in acquiring and developing oil and natural gas properties in the Rockies and Mid-Continent. Foothills seeks to acquire dislocated and underdeveloped oil and gas assets and maximize those assets to create shareholder value. Foothills maintains its principal executive office in Denver, Colorado.

Forward Looking Statements
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by FTXP may not proceed as contemplated, and by all other matters specified in FTXP’s filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to substantial risk and uncertainty. FTXP does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the FTXP’s filings with the Securities and Exchange Commission, including its most recent periodic reports.

CALGARY, ALBERTA–(Marketwired – Aug. 4, 2016) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX VENTURE:BCN)(AIM:BCN) the AIM and TSX Venture Exchange listed lithium and borates company focussed on Mexico, announces the sad passing of the Hon. Colin Orr-Ewing, a Non-Executive Director and, until recently, Chairman of the Company, on 3 August 2016 following a short illness. The Directors and employees of Bacanora would like to take this opportunity to extend their sincerest condolences to Colin’s family.

For over 40 years Colin has been a larger than life personality within London’s mining and energy scene. Colin’s long and successful career included executive management positions with KCA and Kimberly Oil in the USA, investment manager for the Shell Pension Fund and subsequently a long association with Blakeney Capital Management. Colin, in his capacity as an investor, adviser and seed financier made a significant contribution to the development of many resource projects all over the globe. More recently, Colin’s focus turned to the borates industry and his persistence and intuition were the driving force behind the discovery of the Sonora lithium deposit and the creation of Bacanora Minerals. Colin’s passion for Bacanora will be long remembered, particularly as his Company continues to develop the Sonora Lithium Project over the forthcoming years.

James Leahy, Non-executive Chairman of Bacanora, said “We are all deeply saddened by the news of Colin’s sudden death and all the sympathies and thoughts of the Board and employees are with his family at this time. At both the Company and personal level we will forever be in his debt. Colin was the founder of Bacanora and under his leadership as Chairman it has flourished, becoming the Company it is today thanks to his vision, energy, enthusiasm and hard work. On behalf of my colleagues, we have all lost a great friend who was always generous with his time, wise counsel and support. It is a huge understatement to say he will be deeply missed by us all.”

ABOUT BACANORA:

Bacanora is a Canadian and London listed minerals explorer (TSX VENTURE:BCN)(AIM:BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium and borates. The Company’s operations are based in Hermosillo in northern Mexico and it currently has two significant projects under development in the state of Sonora. The two main assets of Bacanora are:

• The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101″)) of 4.46 Mt LCE contained in 259 Mt of clay at a Li grade of 3,200 ppm and an Inferred Mineral Resource of 2.74 Mt LCE contained in 160 Mt of clay at a Li grade of 3,200 ppm.
• The Magdalena Borate Project, in Sonora state, Mexico, where the Company’s main borate zone, El Cajon, has an Indicated Resource (in accordance with NI 43-101) of 1.17 Mt of B₂O₃, at an eight percent cut-off grade. The Company has completed a number of measures to determine the geological and commercial potential of the project and is undertaking a prefeasibility exercise to determine the economic benefit of developing the mine and constructing a processing plant on site in order to become a supplier of boric acid.

Reader Advisory

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CALGARY, ALBERTA–(Marketwired – Aug. 5, 2016) – (TSX:POU) –

HIGHLIGHTS

• Paramount closed the sale of its Musreau Complex natural gas processing facility for gross cash proceeds of approximately $565 million in April 2016.
• In July 2016, Paramount entered into an agreement to sell 450 (310 net) sections of its Deep Basin oil & gas properties in the Musreau/Kakwa area (the “Musreau/Kakwa Assets”) to Seven Generations Energy Ltd. (“7G” or “Seven Generations”) for total consideration of approximately $1.9 billion (the “Sale Transaction”). Completion of the Sale Transaction is subject to the approval of Paramount’s shareholders, regulatory approvals and other customary closing conditions.
• Consideration to Paramount for the Sale Transaction will include: $475 million in cash, 33.5 million 7G class A common shares and the assumption by 7G of Paramount’s US$450 million 6.875% senior unsecured notes due 2023.
• Second quarter sales volumes averaged 40,890 Boe/d, including 9,490 Bbl/d of condensate and oil.
• Excluding the Musreau/Kakwa Assets, Paramount’s sales volumes were approximately 11,000 Boe/d (31 percent liquids) in the second quarter of 2016.
• Paramount commenced its 2016 drilling program in the second quarter. The Company continued to realize improvements in capital efficiencies in its drilling operations through longer lateral lengths, deploying multiple rigs per multi-well pad, lower service costs and other operational advances.
• To the end of July, drilling operations were completed on eight 1.5 mile horizontal Montney wells at Musreau with an average of 36 drilling days per well. These wells and other wells in progress in Musreau/Kakwa are to be included as part of the Sale Transaction.
• At Karr-Gold Creek, the Company finished drilling one Montney well in July and commenced drilling a three-Montney well pad in late-July. These wells are all designed with 2.0 mile lateral lengths and are expected to be completed with high intensity 50 stage water-based fracks. The first of the Karr-Gold Creek wells is expected to be completed and brought on production in the third quarter, with the other wells to be brought on production in the fourth quarter.
• The market value of Paramount’s financial portfolio following completion of the Sale Transaction is estimated to be approximately $1.2 billion, approximately $11.00 per Paramount share, based on current market prices.
• Pro forma the Sale Transaction, Paramount’s June 30, 2016 net debt would be approximately $300 million. Taking into account the Company’s financial portfolio, Paramount would be effectively debt free.

MUSREAU/KAKWA SALE TRANSACTION

The Sale Transaction is a transformational event for Paramount and is consistent with Paramount’s long historical track record of early stage resource capture and delineation followed by strategic and creative value realization. Following the close of the Sale Transaction, Paramount will have the financial resources to continue with this strategy on its remaining Montney, Duvernay and other resource properties. In addition, Paramount intends to be an active participant in the market for acquisitions as the Company will have extensive financial flexibility and access to capital markets, providing a significant competitive advantage.

The consideration payable to Paramount by 7G for the Musreau/Kakwa Assets will be approximately $1.9 billion (subject to customary closing adjustments) which will be comprised of a combination of: $475 million in cash, 33.5 million 7G class A common shares (having a value of approximately C$837 million based on the 10 day VWAP of the 7G shares on July 5, 2016, the day immediately prior to announcement of the Sale Transaction), the assumption by 7G of Paramount’s US$450 million 6.875% senior unsecured notes due 2023 and certain oil and gas properties in the Musreau/Kakwa area having a value of approximately $6 million. The cash consideration received will be used to reduce Paramount’s debt and for general corporate purposes.

The Musreau/Kakwa Assets had sales volumes of approximately 30,000 Boe/d for the three month period ended June 30, 2016 and 34,000 Boe/d for the six month period ended June 30, 2016. The Musreau/Kakwa Assets also include minor facilities and gathering systems related to the oil and gas properties being sold. 7G will also assume Paramount’s processing and transportation commitments relating to the Musreau/Kakwa Assets in connection with the Sale Transaction.

The Sale Transaction has an effective date of June 1, 2016 and an expected closing date of August 18, 2016. Completion of the Sale Transaction is subject to the approval of Paramount’s shareholders, regulatory approvals and other customary closing conditions.

Additional information concerning the Sale Transaction can be found in Paramount’s Material Change Report dated July 12, 2016 and Information Circular dated July 15, 2016, both of which are available on SEDAR at www.sedar.com.

2019 Notes Consent Solicitation

In connection with the Sale Transaction, Paramount has commenced a consent solicitation and given notice of conditional redemption in respect of its $450 million principal amount of 7.625% senior unsecured notes due 2019 (the “2019 Notes”).

The consent solicitation seeks consent from the holders of the 2019 Notes (the “2019 Noteholders”) to waive and amend certain provisions of the indenture for the 2019 Notes such that the Sale Transaction can be completed with consenting holders remaining as holders of their 2019 Notes post-closing. A consent fee of $5.00 per $1,000 principal amount of 2019 Notes is payable to those 2019 Noteholders who provide their consent, conditional on the Sale Transaction closing. The consent solicitation is conditional on, among other things, closing of the Sale Transaction and a minimum acceptance from 2019 Noteholders holding at least $100 million principal amount of 2019 Notes, with a maximum acceptance of $300 million principal amount (with Paramount able to waive such maximum). The Sale Transaction will be completed regardless of the results of the consent solicitation, as the 2019 Notes of all non-consenting 2019 Noteholders will be redeemed.

2019 Noteholders who wish to consent must instruct their intermediary (broker, dealer, commercial bank, trust company or other nominee) who is a CDS participant to complete and execute the consent form and mail, email or deliver the form to Computershare Trust Company of Canada, the depositary, in accordance with the procedures set forth in the consent form. Consents should not be delivered to Paramount. 2019 Noteholders who do not deliver a properly completed and executed consent on or prior to 5:00 pm (Toronto time) on August 15, 2016 will have their 2019 Notes redeemed.

The consent solicitation and notice of conditional redemption and related documents are available on Paramount’s website at:
http://www.paramountres.com/investor-relations/the-musreaukakwa-disposition-documents

Scotia Capital Inc. has been retained by Paramount as sole lead solicitation agent in connection with the consent solicitation.

PARAMOUNT – POST SALE TRANSACTION

Following the Sale Transaction, Paramount will continue to have a land base (excluding emerging plays and strategic investments in the northern frontier and oil sands) of over 660,000 net acres of land, including 380,000 net acres of Montney rights. The Company plans to continue the development of its liquids-rich Deep Basin plays, comprised of:

• Karr-Gold Creek Montney;
• Smoky/Resthaven Cretaceous and Montney;
• Valhalla Montney;
• Birch/Umbach northeast British Columbia Montney; and
• Willesden Green Duvernay.

Paramount will also continue to hold a significant portfolio of emerging plays and strategic investments, including:

• exploratory shale gas assets in the Liard Basin;
• northern frontier assets in Central Mackenzie and the Mackenzie Delta;
• oil sands assets held through its wholly-owned subsidiary Cavalier Energy Inc.;
• seven triple-sized rigs held through its wholly-owned subsidiary Fox Drilling Limited Partnership; and
• investments in other public and private oil and gas companies (including, among others, Trilogy Energy Corp., MEG Energy Corp., Strategic Oil & Gas Ltd., Marquee Energy Ltd. and RMP Energy Inc.).

The market value of Paramount’s investments in other public and private oil and gas companies (including Seven Generations shares) following completion of the Sale Transaction is estimated to be approximately $1.2 billion, approximately $11.00 per Paramount share, based on current market prices.

Paramount’s 2016 capital spending following the closing of the Sale Transaction will be focused on expanding the Company’s existing 4,500 Boe/d Karr-Gold Creek development. The Karr-Gold Creek area encompasses approximately 110 net sections of land directly north of the divested Musreau/Kakwa Assets where condensate yields and well economics are similar to that of the Kakwa/Musreau Montney.

The following tables set out the sales volumes and netback of Paramount for the six months ended June 30, 2016, excluding the Musreau/Kakwa Assets:

Paramount is an independent, publicly traded, Canadian corporation that explores for and develops conventional petroleum and natural gas prospects, pursues longer-term non-conventional exploration and pre-development projects and holds investments in other entities. The Company’s properties are primarily located in Alberta and British Columbia. Paramount’s Class A Common Shares are listed on the Toronto Stock Exchange under the symbol “POU”.

Paramount’s second quarter 2016 results, including Management’s Discussion and Analysis and the Company’s Consolidated Financial Statements, can be obtained at: http://media3.marketwire.com/docs/1064890a.pdf.

This information will also be made available through Paramount’s website at www.paramountres.com and SEDAR at www.sedar.com.

ADVISORIES

Forward Looking Information

Certain statements in this document constitute forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “estimate”, “will”, “expect”, “plan”, “schedule”, “intend”, “propose”, or similar words suggesting future outcomes or an outlook. Forward-looking information in this document includes, but is not limited to:

• the anticipated closing date of the Sale Transaction;
• the total value of the consideration to be received by Paramount for the Musreau/Kakwa Assets;
• Paramount’s assets and projected production and land holdings following the completion of the Sale Transaction;
• The estimated value, based on current market prices, of Paramount’s financial portfolio (including the 7G shares) following the closing of the Sale Transaction;
• the processing and transportation commitments that will be assigned to 7G if the Sale Transaction is completed;
• the New Facility that will be available to Paramount upon completion of the Sale Transaction and the terms thereof;
• the anticipated benefits of the Sale Transaction to Paramount and its shareholders;
• Paramount’s reduced indebtedness and increased financial flexibility following the Sale Transaction;
• the conditional consent solicitation with respect to the 2019 Notes, the redemption of non-consenting holders and related matters;
• the timing of the four Karr-Gold Creek Montney wells being brought on production;
• Paramount’s business plans and strategy following the Sale Transaction, including its planned capital spending for the remainder of 2016; and
• general business strategies and objectives.

Such forward-looking information is based on a number of assumptions which may prove to be incorrect. Assumptions have been made with respect to the following matters, in addition to any other assumptions identified in this document:

• the terms of the Sale Transaction and the other matters disclosed herein in relation to the Sale Transaction;
• the timely receipt of shareholder and regulatory approvals for the completion of the Sale Transaction;
• the scope and effect of the expected benefits from the Sale Transaction;
• applicable post-closing adjustments in relation to the Sale Transaction;
• future natural gas and Liquids prices;
• royalty rates, taxes and capital, operating, general & administrative and other costs;
• foreign currency exchange rates and interest rates;
• general business, economic and market conditions;
• the ability of Paramount to obtain the required capital to finance its exploration, development and other operations and meet its commitments and financial obligations;
• the ability of Paramount to obtain equipment, services, supplies and personnel in a timely manner and at an acceptable cost to carry out its activities;
• the ability of Paramount to secure adequate product processing, transportation, de-ethanization, fractionation, and storage capacity on acceptable terms;
• the ability of Paramount to market its natural gas and Liquids successfully to current and new customers;
• the ability of Paramount and its industry partners to obtain drilling success (including in respect of anticipated production volumes, reserves additions, Liquids yields and resource recoveries) and operational improvements, efficiencies and results consistent with expectations;
• the timely receipt of required governmental and regulatory approvals; and
• anticipated timelines and budgets being met in respect of drilling programs and other operations (including well completions and tie-ins and the construction, commissioning and start-up of new and expanded facilities).

Although Paramount believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on them as Paramount can give no assurance that such expectations will prove to be correct. Forward-looking information is based on expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Paramount and described in the forward-looking information. The material risks and uncertainties include, but are not limited to:

• the Sale Transaction and the other matters disclosed herein in relation to the Sale Transaction will not be completed on the terms anticipated or at all;
• the conditions to the completion of the Sale Transaction not being satisfied;
• the expected benefits of the Sale Transaction not being realized;
• fluctuations in natural gas and Liquids prices;
• changes in foreign currency exchange rates and interest rates;
• the uncertainty of estimates and projections relating to future revenue, future production, reserve additions, Liquids yields (including condensate to natural gas ratios), resource recoveries, royalty rates, taxes and costs and expenses;
• the ability to secure adequate product processing, transportation, de-ethanization, fractionation, and storage capacity on acceptable terms;
• operational risks in exploring for, developing and producing, natural gas and Liquids;
• the ability to obtain equipment, services, supplies and personnel in a timely manner and at an acceptable cost;
• potential disruptions, delays or unexpected technical or other difficulties in designing, developing, expanding or operating new, expanded or existing facilities (including third-party facilities);
• processing, pipeline, de-ethanization, and fractionation infrastructure outages, disruptions and constraints;
• risks and uncertainties involving the geology of oil and gas deposits;
• the uncertainty of reserves and resources estimates;
• general business, economic and market conditions;
• the ability to generate sufficient cash flow from operations and obtain financing to fund planned exploration, development and operational activities and meet current and future commitments and obligations (including product processing, transportation, de-ethanization, fractionation and similar commitments and debt obligations);
• changes in, or in the interpretation of, laws, regulations or policies (including environmental laws);
• the ability to obtain required governmental or regulatory approvals in a timely manner, and to enter into and maintain leases and licenses;
• the effects of weather;
• the timing and cost of future abandonment and reclamation obligations and potential liabilities for environmental damage and contamination;
• uncertainties regarding aboriginal claims and in maintaining relationships with local populations and other stakeholders;
• the outcome of existing and potential lawsuits, regulatory actions, audits and assessments; and
• other risks and uncertainties described elsewhere in this document and in Paramount’s other filings with Canadian securities authorities.

The foregoing list of risks is not exhaustive. For more information relating to risks, see the section titled “RISK FACTORS” in Paramount’s current annual information form. The forward-looking information contained in this document is made as of the date hereof and, except as required by applicable securities law, Paramount undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

Non-GAAP Measures

In this document “Funds flow from operations”, “Netback”, “Net Debt”, “Exploration and Capital Expenditures”, “Principal Properties Capital” and “Investments in other entities – market value”, collectively the “Non-GAAP measures”, are used and do not have any standardized meanings as prescribed by International Financial Reporting Standards.

Funds flow from operations refers to cash from operating activities before net changes in operating non-cash working capital, geological and geophysical expenses and asset retirement obligation settlements. Funds flow from operations is commonly used in the oil and gas industry to assist management and investors in measuring the Company’s ability to fund capital programs and meet financial obligations. Netback equals petroleum and natural gas sales less royalties, operating costs and transportation and NGLs processing costs. Netback is commonly used by management and investors to compare the results of the Company’s oil and gas operations between periods. Net Debt is a measure of the Company’s overall debt position after adjusting for certain working capital amounts and is used by management to assess the Company’s overall leverage position. Refer to the liquidity and capital resources section of the Company’s Management’s Discussion and Analysis for the period for the calculation of Net Debt. Exploration and capital expenditures consist of the Company’s spending on wells and infrastructure projects, other property, plant and equipment, land and property acquisitions, capitalized interest and geological and geophysical costs incurred. The closest GAAP measure to exploration and development expenditures is property, plant and equipment and exploration cash flows under investing activities in the Company’s Consolidated Statement of Cash Flows, which includes all of the items included in exploration and capital expenditures, except for geological and geophysical costs for the three and six months ended June 30, 2016 of $1.0 million and $2.2 million, respectively (2015 – $1.1 million and $2.6 million, respectively), which are expensed as incurred. Principal Properties Capital includes capital expenditures and geological and geophysical costs related to the Company’s Principal Properties, and excludes land acquisitions and capitalized interest. The Principal Properties Capital measure provides management and investors with information regarding the Company’s Principal Properties spending on drilling and infrastructure projects separate from land acquisition activity and capitalized interest. Refer to the Exploration and Capital Expenditures section of the Company’s Management’s Discussion and Analysis for the period. Investments in other entities – market value reflects the Company’s investments in enterprises whose securities trade on a public stock exchange at their period end closing price (e.g. Trilogy Energy Corp., MEG Energy Corp., Marquee Energy Ltd., RMP Energy Inc., Strategic Oil & Gas Ltd. and others), and investments in all other entities at book value. Paramount provides this information because the market values of equity-accounted investments, which are significant assets of the Company, are often materially different than their carrying values.

Non-GAAP measures should not be considered in isolation or construed as alternatives to their most directly comparable measure calculated in accordance with GAAP, or other measures of financial performance calculated in accordance with GAAP. The Non-GAAP measures are unlikely to be comparable to similar measures presented by other issuers.

Oil and Gas Measures and Definitions

This document contains disclosures expressed as “Boe”, “$/Boe” and “Boe/d”. Natural gas equivalency volumes have been derived using the ratio of six thousand cubic feet of natural gas to one barrel of oil. Equivalency measures may be misleading, particularly if used in isolation. A conversion ratio of six thousand cubic feet of natural gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head. For the six months ended June 30, 2016, the value ratio between crude oil and natural gas was approximately 30:1. This value ratio is significantly different from the energy equivalency ratio of 6:1. Using a 6:1 ratio would be misleading as an indication of value. The term “Liquids” is used to represent oil, condensate and Other NGLs. NGLs consist of condensate and Other NGLs. The term “Other NGLs” means ethane, propane and butane.

TORONTO, ONTARIO–(Marketwired – Aug. 4, 2016) – Denison Mines Corp. (“Denison” or the “Company”) (TSX:DML)(NYSE MKT:DNN) today filed its Consolidated Financial Statements and Management’s Discussion & Analysis (“MD&A”) for the period ended June 30, 2016. Both documents can be found on the Company’s website at www.denisonmines.com or on SEDAR (at www.sedar.com) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in U.S. dollars unless otherwise stated.

David Cates, President and CEO of Denison commented “Our team in Saskatchewan is busy in the field as part of our summer exploration and project evaluation programs. Already, results from the summer exploration program have reinforced the potential for both resource expansion and development at the Wheeler River project. We’ve extended the recently discovered D series lenses, discovered new basement-hosted mineralization 500 metres west of the Gryphon deposit, and confirmed high grade results previously reported for the Gryphon deposit with initial infill drilling.

The Company has also been very active outside of the exploration portfolio, launching an initial pre-feasibility study work program at Wheeler River, completing a flow-through equity financing, closing a transaction with GoviEx Uranium to combine uranium assets in Africa, and entering into an option agreement with Skyharbour Resources Ltd. to fund additional exploration on the Moore Lake property. While the uranium market may appear muted today, we continue to believe in the strong long term fundamentals of the nuclear energy industry, and we’re focused on advancing our assets and positioning our brand to be ready to take advantage of a rising market in future years.”

2016 SECOND QUARTER PERFORMANCE HIGHLIGHTS

• Continued exploration success at the Wheeler River property
  Initial results from the ongoing summer 2016 drilling program have included multiple new mineralized intercepts of the recently discovered D-series lenses, located immediately north of the main Gryphon deposit, and have extended the collective length of the lenses to over 200 metres along plunge. These lenses remain open to the northeast and southwest along plunge. The D-series lenses were first discovered on Section 5200 during the winter 2016 drilling program, and are a top priority for the summer 2016 drill program. The program kicked off in May 2016, and is expected to include approximately 28,000 metres of drilling. In addition to the continued success on the D-series lenses, exploration drilling on the K-West conductor, approximately 500 metres west of the Gryphon deposit, has discovered new basement-hosted mineralization, intersecting weak fracture-hosted uranium associated with significant structure and alteration. This intersection occurs on a different geological trend than the Gryphon deposit, but in a similar geological setting, and demonstrates the fertility of this relatively unexplored trend.

• Initiation of Wheeler River pre-feasibility study
  Denison initiated a work program to support the completion of a pre-feasibility study (“PFS”) for the Wheeler River project and to ultimately advance the project another step towards production. Activities to date have included the launch of an infill drilling program at the Gryphon deposit, initiation of extensive geotechnical and hydrogeological data collection programs, commencement of engineering evaluations, retention of an Environment Manager, the initiation of environmental baseline data collection programs, as well as stakeholder consultations with local communities.

• Successfully completed combination of African-based uranium interests with GoviEx Uranium Inc.
  On June 10, 2016, GoviEx Uranium Inc. (“GoviEx”) and Denison completed the combination of their respective African uranium mineral interests (the “Africa Transaction”). Concurrently, GoviEx completed a non-brokered equity financing on a private placement basis, in which Denison provided the lead order of approximately $500,000. Following the Africa Transaction and the concurrent financing, Denison held a total of 65,144,021 common shares of GoviEx or approximately 24.6% of GoviEx’s issued and outstanding common shares.

• Closed CAD$12.4 million private placement of flow-through shares to fund 2017 Canadian exploration
  In May 2016, the Company completed a private placement offering of 15,127,805 common shares issued on a flow-through basis, at a price of CAD$0.82 per share, for aggregate proceeds to Denison of CAD$12,404,800.

• Earned $2.4 million in toll milling revenue during first half of 2016 from McClean Lake
  The McClean Lake mill, in which Denison holds a 22.5% interest, packaged approximately 8.6 million pounds U₃O₈ during the first half of 2016, for the Cigar Lake Joint Venture (“CLJV”), generating toll milling revenues for Denison of $2.4 million. The Cigar Lake mine’s expected annual production for 2016 is 16 million pounds.

• Received approval for annual production of up to 24 million pounds U₃O₈ per year at the McClean Lake mill
  The Canadian Nuclear Safety Commission (“CNSC”) has authorized an increase to the annual rate of production at the McClean Lake mill, from 13 million pounds U₃O₈ to up to 24 million pounds U₃O₈ per year. The regulatory approval supports a progressive ramp-up of the mill in line with the Cigar Lake mine’s expected annual production of up to 18 million pounds U₃O₈ per year starting 2017.

• Entered into an agreement to option Moore Lake property to Skyharbour for cash and stock
  In July 2016, Denison executed an agreement with Skyharbour Resources Ltd. (“Skyharbour”) that grants Skyharbour an option to acquire 100% interest in Denison’s 100% owned Moore Lake property, in exchange for 4,500,000 common shares of Skyharbour and cash payments totaling CAD$500,000 over the next five years. Skyharbour also agreed to spend CAD$3,500,000 on exploration at the Moore Lake property over the next five years and to grant Denison various back-in rights to re-acquire a 51% interest in the property.

ABOUT DENISON

Denison is a uranium development and exploration company focused in the infrastructure rich eastern portion of the Athabasca Basin region in northern Saskatchewan, Canada. Highlighted by its 60% owned Wheeler River development project, which hosts the high grade Gryphon and Phoenix uranium deposits, Denison’s project portfolio covers over 350,000 hectares and includes a 22.5% interest in the McClean Lake uranium mill, which is permitted for annual production of up to 24 million pounds U3O8 and is currently processing ore from the Cigar Lake mine under a toll milling agreement. Denison’s interests in the eastern Athabasca Basin also include a 61.55% interest in the J Zone deposit on the Waterbury Lake property, a 25.17% interest in the Midwest deposit, and a 22.5% interest in the McClean lake uranium deposits – all of which are located within 20 kilometres of the McClean Lake mill.

Denison is also engaged in mine decommissioning and environmental services through its Denison Environmental Services division and is the manager of Uranium Participation Corp., a publicly traded company which invests in uranium oxide and uranium hexafluoride.

EXPLORATION AND EVALUATION

The Company’s continued focus remains on the eastern portion of the Athabasca Basin region in Saskatchewan, Canada, with a significant portfolio of projects covering over 350,000 hectares in total. Denison’s share of exploration and evaluation expenditures were $2,126,000 during the three months ended June 30, 2016.

Wheeler River Project

The Wheeler River property is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014 respectively. The Phoenix deposit is estimated to include an indicated resource of 70.2 million pounds U₃O₈ (above a cut-off grade of 0.8% U₃O₈) based on 166,000 tonnes of mineralization at an average grade of 19.1% U₃O₈, and is the highest grade undeveloped uranium deposit in the world. The Gryphon deposit is hosted in basement rock, approximately 3 kilometres to the northwest of Phoenix, and is estimated to contain inferred resources of 43.0 million pounds U₃O₈ (above a cut-off grade of 0.2% U₃O₈) based on 834,000 tonnes of mineralization at an average grade of 2.3% U₃O₈.

Further details regarding the Wheeler River Project are provided in the current Technical Report, dated March 31, 2016, a copy of which is available on SEDAR and EDGAR.

Exploration Programs

Denison’s share of exploration costs at Wheeler River amounted to $897,000 during the three months ended June 30, 2016. The summer exploration program began on May 30, 2016, and is expected to continue into September 2016.

• Gryphon Deposit Expansion Potential

During the winter 2016 drill program a new mineralized zone was discovered within 200 metres north and northwest of the Gryphon deposit. The new zone of mineralization is interpreted to occur as another set of stacked, parallel lenses which are broadly conformable with the Gryphon deposit A, B and C lenses. The lenses, designated the D series lenses, have not been included in the Mineral Resource Estimate Report dated November 25, 2015, or the PEA dated March 31, 2016, and form a compelling mineralized zone for resource expansion, with assay highlights announced on May 26, 2016 including 5.3% U₃O₈ over 11.0 metres, 11.9% U₃O₈ over 1.5 metres, 2.9% U₃O₈ over 6.0 metres, 2.3% U₃O₈ over 4.0 metres and 6.2% U₃O₈ over 2.5 metres.

To date, the D Series mineralization is interpreted to occur as 16 individual lenses which occur deeper into the stratigraphic sequence, or footwall, to the Gryphon deposit. The collective D series lenses currently measure (including initial summer 2016 results) approximately 215 metres long in the plunge direction, 130 metres wide across the plunge and range in thickness from 2 to 11 metres. By comparison the Gryphon deposit A, B and C lenses collectively measure 450 metres long in the plunge direction, 80 metres wide across the plunge and range in thickness from 2 to 9 metres.

Three priority ‘D Series’ target areas were identified for drill testing this summer as follows:

1. Between the newly defined D series lenses (Section 5200GP and 5150GP) and the previously identified D series lenses (Section 5100GP and 5050GP), which occur approximately 100 metres up plunge to the southwest, and were intersected in 2014 but were not included in the Mineral Resource Estimate Report dated November 25, 2015 for the Gryphon deposit, due to insufficient drilling at the time;
2. Up plunge and along strike to the southwest of the D series lenses identified in 2014 (Section 5100GP and 5050GP), roughly parallel to the Gryphon deposit – which extends approximately 250 metres in this direction.
3. Down plunge and along strike to the northeast of the newly delineated D series lenses (Section 5200GP and 5150GP).

The highlights for the summer 2016 drill program, to the end of June 2016, are provided in the table below.

1. eU₃O₈ is radiometric equivalent uranium from a calibrated total gamma down-hole probe. All intersections will be sampled for chemical U₃O₈ assay
2. Intersection interval is composited above a cut-off grade of 0.05% eU₃O_8. Composites compiled using 1.0 metre minimum ore thickness and 2.0 metres maximum waste
3. As the drill holes are oriented steeply toward the northwest and the basement mineralization is interpreted to dip moderately to the southeast, the true thickness of the mineralization is expected to be approximately 75% of the intersection lengths

• New Intersection of Mineralization at K-West

Drill hole WR-663, which is located 500 metres to the west of the Gryphon deposit, was designed to test basement potential on the largely unexplored K-West conductive trend. The drill hole intersected basement-hosted mineralization including 0.039% eU₃O₈ over 1.1 metres, 0.04% eU₃O₈ over 2.0 metres and 0.021% eU₃O₈ over 5.2 metres (using a 0.01% eU₃O₈ cut-off and 0.5 metre minimum thickness). Although no high-grade mineralization was intersected, the intensity and extent of the alteration zone, with an estimated true thickness of approximately 50 metres, indicate significant fluid flow with potential for higher grades along strike, and up- and down-dip. The zone is mostly open within the basement and, given the close proximity to Gryphon and similar favorable geological setting, follow up is warranted.

As the drill hole was oriented steeply toward the northwest and the basement mineralization is interpreted to dip moderately to the southeast, the true thickness of the mineralization is expected to be approximately 75% of the intersection lengths. The results are reported as radiometric equivalent U₃O₈ (“eU₃O₈^“) derived from a calibrated total gamma down-hole probe using a cut-off of 0.1% eU₃O₈, a minimum mineralization thickness of 1.0 metre and maximum waste of 2.0 metres. All mineralized intersections will be sampled for chemical U₃O₈ assay.

• Illustrative Figure

A plan map of the northeast plunging Gryphon deposit mineralized lenses is provided in Figure 1. The map indicates the location of the D series lenses interpreted from winter 2016 drilling results, the summer 2016 mineralized intercepts shown as red stars and the K-West mineralized intercepts shown as green stars. The simplified basement geology at the sub-Athabasca unconformity is provided as the backdrop.

• Gryphon Infill Drilling Program

An infill drilling program commenced on the Gryphon deposit in early July 2016. The objective of the infill drilling program is to increase the level of confidence of the previously released inferred resources estimated for the Gryphon deposit to an indicated level – an important step in completing the PFS. The resource estimate for the Gryphon deposit includes the A, B and C series lenses – a set of parallel, stacked, elongated mineralized lenses that are broadly conformable with the basement geology and dip moderately to the southeast and plunge moderately to the northeast.

Results from the first infill drill hole WR-668, as announced on July 19, 2016, intersected 0.93% eU₃O₈ over 14.1 metres (including 2.1% eU₃O₈ over 3.7 metres and 1.4% eU₃O₈ over 1.3 metres) from 754.7 to 768.8 metres, and 2.4% eU₃O₈ over 7.3 metres (including 3.7% eU₃O₈ over 4.5 metres) from 772.6 to 779.9 metres, which reinforces the high grade results previously reported for the Gryphon deposit. The results can be correlated with previous intersections of the A, B and C lenses in neighbouring holes and the high grades were consistent with previous results, demonstrating good lens and grade continuity. As the drill hole was oriented steeply toward the northwest, consistent with previous Gryphon drill holes, and the basement mineralization is interpreted to dip moderately to the southeast, the true thickness of the mineralization is expected to be approximately 75% of the intersection lengths. The results are reported as radiometric equivalent U₃O₈ (“eU₃O₈^“) derived from a calibrated total gamma down-hole probe using a cut-off of 0.1% eU₃O₈, a minimum mineralization thickness of 1.0 metre and maximum waste of 2.0 metres. All mineralized intersections will be sampled for chemical U₃O₈ assay.

Evaluation Program

During the three months ended June 30, 2016, Denison’s share of evaluation costs at Wheeler River amounted to $39,000, and were mainly related to the internal evaluation, field investigations and engineering studies completed for the Preliminary Economic Assessment (“PEA”) released early in the second quarter, and the initiation of PFS activities.

• PEA Results

The results of the PEA were announced by the Company on April 4, 2016 and included a base case pre-tax Internal Rate of Return (“IRR”) of 20.4%, an indicative post-tax IRR to Denison of 17.8%, and a pre-tax Net Present Value (“NPV”) of CAD$513 million (Denison’s share – CAD$308 million), based on a long term contract price for uranium of $44 per pound U₃O₈. The PEA also included a production scenario based on a uranium price of $62.60 per pound U₃O₈, resulting in a pre-tax IRR of 34.1% and a pre-tax NPV of CAD$1,420 million (Denison’s share – CAD$852 million).

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Additional definition drilling is required to improve the confidence in the existing mineral resources estimated for the Gryphon deposit, and is expected to be completed as the Company advances the project towards the completion of a PFS. The PEA is posted on the Company’s website and is available on SEDAR and EDGAR.

• PFS Activities

In the second quarter of 2016, Denison initiated a work program to support the completion of a PFS for the Wheeler River project and to ultimately advance the project a further step towards production. Initial PFS activities to date included:

• Launch of an infill drilling program for the Gryphon deposit;
• Initiation of extensive geotechnical and hydrogeological data collection programs to support mine designs, water treatment designs and environmental assessments;
• Commencement of engineering evaluations for shaft sinking and mine designs;
• Retention of Pam Bennett as Environment Manager, responsible for the preparation of the Environmental Impact Assessment (“EIA”) for the project. Pam comes to Denison with an M.Sc in Environmental Toxicology and is a registered Professional Biologist (P. Biol). Pam has over 15 years of international experience in the environmental sciences field, including experience with both Cameco Corp. (“Cameco”) and AREVA Resources Canada Inc. (“ARC”) on EIAs for uranium projects in Saskatchewan;
• Initiation of environmental baseline data collection programs (archeological, terrestrial, aquatic) required to support project designs and environmental assessments; and
• Initiation of stakeholder consultations with local communities.

Exploration Pipeline Properties

During the second quarter of 2016, the Company managed or participated in three other exploration drilling programs (two of which were operated by Denison). Highlights include the following:

At Waterbury Lake (Denison 61.55% interest and operator), six holes drilled in the second quarter successfully intersected graphitic pelites, faulting and associated alteration in the Oban target area. Potential exists along strike and follow-up drilling in this area is expected to be planned once the geochemical assay results have been received.

At Turkey Lake (Denison 100% interest), three holes were drilled to test a soil uranium anomaly and coincident electromagnetic conductors. As expected, no Athabasca sandstone was encountered and basement lithologies comprised predominantly granites or pelitic gneisses. The highly anomalous soil uranium results were attributed to pegmatites with highly elevated radioactivity. An additional hole intersected favourable graphitic faults in the basement, but lacked alteration and radioactivity. Follow-up along strike may be warranted.

At Mann Lake (Denison 30% interest), a three hole program was completed. One hole intersected weak uranium mineralization. The other two holes intersected significant structure and alteration in the lower sandstone associated with an unconformity offset related to the GC fault.

SELECTED ANNUAL FINANCIAL INFORMATION

RESULTS OF CONTINUING OPERATIONS

Revenues

During the first half of 2016, the McClean Lake mill packaged approximately 8.6 million pounds U₃O₈ for the CLJV and the Company’s share of toll milling revenue during the three months ended June 30, 2016 totaled $1,147,000.

Revenue from Denison Environmental Services (“DES”) and the Company’s management services agreement with UPC during the three months ended June 30, 2016, were $2,144,000 and $372,000, respectively.

Operating expenses

Operating expenses in the Canadian mining segment include depreciation, mining and other development costs, as well as standby costs. Operating expenses during the three months ended June 30, 2016 were $800,000 including $583,000 of depreciation from the McClean Lake mill, associated with the processing of U₃O₈ for the CLJV.

Operating expenses in DES during the three months ended June 30, 2016 totaled $1,830,000. The expenses relate primarily to care and maintenance and consulting services provided to clients and include labour costs.

General and administrative expenses

Total general and administrative expenses were $1,227,000 during the three months ended June 30, 2016. These costs are mainly comprised of head office salaries and benefits, office costs, audit and regulatory costs, legal fees, investor relations expenses, project costs and other costs related to operating a public company with listings in Canada and the United States.

Impairment of mineral properties
During the second quarter of 2016, the Company recognized an impairment of $2,174,000 against the value of its Moore Lake property.

RESULTS OF DISCONTINUED OPERATIONS

Loss on sale of African-Based Uranium Interests
During the second quarter of 2016, the Company recognized a loss on disposal of the Africa mining division of $70,000, which includes $637,000 of cumulative foreign currency losses recognized as translational foreign exchange losses in the period of disposal. The total consideration received on the disposal amounted to $4,978,000 at fair value and includes the fair value of the GoviEx shares received of $3,954,000, the fair value of GoviEx warrants received of $1,162,000 and offset by transaction costs of $138,000.

Sale of Mongolian Mining division
On July 22, 2016, the Mineral Resources Authority of Mongolia (“MRAM”) issued mining licenses to the Gurvan Saihan Joint Venture (“GSJV”) for the Hairhan, Haraat, Gurvan Saihan and Ulzit projects. The GSJV was acquired by Uranium Industry as part of the November 30, 2015 sale of the Mongolia Mining Division. Under the licensing process, the GSJV has ten working days from the license issuance date to remit the required first year mining license fees to the Mongolian Government in order to receive the mining certificates required as proof of holding mining licenses in Mongolia. In accordance with the sale agreement with Uranium Industry, certain contingent payments are due to Denison within 60 days of the issuance of a mining license.

No expenditures were incurred in the Mongolian Mining division in the quarter.

LIQUIDITY AND CAPITAL RESOURCES
Cash and cash equivalents were $17,835,000 at June 30, 2016. The Company holds the large majority of its cash, cash equivalents and investments in Canadian Dollars. As at June 30, 2016, the Company’s cash, cash equivalents and current investments amount to CAD$23.0 million. The Company’s CAD$24 million credit facility is fully utilized for non-financial letters of credit in relation to future decommissioning and reclamation plans. The facility contains a covenant that requires the Company to maintain a minimum cash balance of CAD$5 million on deposit with the Bank of Nova Scotia.

OUTLOOK FOR 2016

The Company’s Outlook for 2016 remains largely unchanged, except for the expected revenues from the sale of uranium inventory, exploration and evaluation expenditures planned in Canada, and the plans for Africa, each of which has been modified for the remainder of the year and incorporated into the Company’s current Outlook.

1. Budget figures have been converted using a US$ to CAD$ exchange rate of 1.30.
2. The Company budgets on a cash basis. As a result, actual amounts represent a non-GAAP measure and exclude non-cash depreciation and amortization amounts of $1,560,000.

The sale of approximately 25,000 pounds U₃O₈, currently held by Denison in inventory, has been deferred until market conditions improve.

The 2016 outlook for Canadian exploration program, inclusive of the evaluation work planned for Wheeler River, has been updated to reflect a reduction in winter exploration activities actually completed during the first half of the year.

In June 2016, Denison announced the completion of the Africa Transaction to sell its African assets to GoviEx. The current outlook reflects the activities completed during the first half of the year. No additional expense are expected in relation to the African assets during the remainder of the year.

Qualified Person

The disclosure regarding the PEA was reviewed and approved by Peter Longo, P. Eng, MBA, PMP, Denison’s Vice-President, Project Development, who is a Qualified Person in accordance with the requirements of NI 43-101. The balance of the disclosure of scientific and technical information regarding Denison’s properties in this press release and the MD&A was prepared by or reviewed and approved by Dale Verran, MSc, Pr.Sci.Nat., the Company’s Vice President, Exploration, a Qualified Person in accordance with the requirements of NI 43-101. For a description of the data verification, assay procedures and the quality assurance program and quality control measures applied by Denison, please see Denison’s Annual Information Form dated March 24, 2016 available under Denison’s profile on SEDAR at www.sedar.com, and its Form 40-F available on EDGAR at www.sec.gov/edgar.shtml.

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this press release constitutes “forward-looking information”, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes”, or the negatives and/or variations of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. In particular, this press release contains forward-looking information pertaining to the following: the likelihood of completing and benefits to be derived from corporate transactions; the results of the PEA and expectations regarding further studies, including the PFS; expectations regarding the toll milling of Cigar Lake ores; expectations regarding revenues and expenditure from operations at DES; capital expenditure programs, estimated exploration and development expenditures and reclamation costs and Denison’s share of same; expectations of market prices and costs; supply and demand for uranium; and exploration, development and expansion plans and objectives and statements regarding anticipated budgets. Statements relating to “mineral reserves” or “mineral resources” are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be accurate and may differ materially from those anticipated in this forward looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison’s Annual Information Form dated March 24, 2016 under the heading “Risk Factors”. These factors are not, and should not be construed as being exhaustive. Accordingly, readers should not place undue reliance on forward-looking statements.

The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this press release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison’s expectations except as otherwise required by applicable legislation.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources: This press release may use the terms “measured”, “indicated” and “inferred” mineral resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

FIGURE 1- Wheeler River Property Map and Basement Geology: http://media3.marketwire.com/docs/1064948.pdf