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Exhibit 99.2




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DENISON MINES CORP.
 INTRODUCTION
  www.sedar.com sec.gov/edgar.shtml
  CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
     -1-




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DENISON MINES CORP.
 OVERVIEW
   3 8
   The Uranium Industry
   Uranium Supply and Demand
 3 8 3 8 3 8
  -2-




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DENISON MINES CORP.
  6
   Uranium Prices
   3 8
 3 8
 -3-




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DENISON MINES CORP.
 3 8
 3 8 3 8
  Competition
  Marketing Uranium
     The Vanadium Market
  2 5 2 5 2 5
 -4-




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DENISON MINES CORP.
  2 5 2 5 2 5 2 5
  Marketing Vanadium
 2 5
 -5-




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DENISON MINES CORP.
 SELECTED ANNUAL FINANCIAL INFORMATION
  3 Months ended
    
    Year ended
    
    15 Months ended
    
    Year endedDec. 31,
    
    Dec. 31,
    
    Dec. 31,
    
    Sept. 30(in thousands)
    
    2007
    
    2007
    
    2006
    
    2005Results of Operations:Total revenues
    
    $
    36,825
    
    
    $
    76,764
    
    
    $
    9,722
    
    
    $
    131Net income (loss)
    
    
    23,542
    
    
    
    47,244
    
    
    
    (16,998
    )
    
    
    (11,450
    )Basic earnings (loss) per share
    
    
    0.12
    
    
    
    0.25
    
    
    
    (0.18
    )
    
    
    (0.14
    )Diluted earnings (loss) per share
    
    
    0.12
    
    
    
    0.24
    
    
    
    (0.18
    )
    
    
    (0.14
    )As at Dec. 31,
    
    As at Dec. 31,
    
    As at Sept. 30,2007
    
    2006
    
    2005Financial Position:Working capital
    
    
    
    
    
    $
    75,915
    
    
    $
    93,743
    
    
    $
    4,244Long-term investments
    
    
    
    
    
    
    20,507
    
    
    
    16,600
    
    
    
    3,814Property, plant and equipment
    
    
    
    
    
    
    727,823
    
    
    
    403,571
    
    
    
    6,767Total assets
    
    
    
    
    
    
    1,001,581
    
    
    
    659,348
    
    
    
    34,214Total long-term liabilities
    
    
    
    
    
    $
    175,081
    
    
    $
    123,244
    
    
    $
    13,444
 RESULTS OF OPERATIONS
 General
   Revenues
 3 8 3 8
 3 8 3 8
 3 8
  -6-




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DENISON MINES CORP.
 Current Contracted Sales Volumes  3 8
 (in thousands)
    
    2008
    
    2009
    
    PricingMarket Related
    
    
    590
    
    
    
    440
    
    
    80% to 85% of SpotLegacy Base Escalated
    
    
    220
    
    
    
    0
    
    
    $20.00 to $26.00Legacy Market Related
    
    
    140
    
    
    
    0
    
    
    96% of Spot
      Operating Expenses
 Milling and Mining Expenses
 3 8 3 8
 3 8.
  3 8
 -7-




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DENISON MINES CORP.
 Sales Royalties and Capital Taxes
  MINERAL PROPERTY EXPLORATION
     General and Administrative
  Other Income and Expenses
  Income Taxes
  -8-




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DENISON MINES CORP.
 Outlook for 2008
 Mining and Production
 Canada
 3 8
 3 8
 United States
   3 8 2 5
 Sales
 3 8 2 5
 Exploration
 Athabasca Basin
    -9-




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DENISON MINES CORP.
    Southwest United States
  Mongolia
   Zambia
  SUMMARY OF QUARTERLY FINANCIAL RESULTS
 2007
    
    2007
    
    2007
    
    2007(in thousands)
    
    Q4
    
    Q3
    
    Q2
    
    Q1Total revenues
    
    $
    36,825
    
    
    $
    9,411
    
    
    $
    18,809
    
    
    $
    11,719Net income (loss)
    
    
    23,542
    
    
    
    (11,721
    )
    
    
    40,489
    
    
    
    (5,066
    )Basic and diluted earnings (loss)
per share
    
    
    0.12
    
    
    
    (0.06
    )
    
    
    0.21
    
    
    
    (0.03
    )
 2006
    
    2006
    
    2006
    
    2006
    
    2006(in thousands)
    
    Q5
    
    Q4
    
    Q3
    
    Q2
    
    Q1Total revenues
    
    
    8,322
    
    
    $
    1
    
    
    $
    2
    
    
    $
    666
    
    
    $
    731Net income (loss)
    
    
    (2,407
    )
    
    
    (6,368
    )
    
    
    (2,886
    )
    
    
    (2,474
    )
    
    
    (2,863
    )Basic and diluted earnings (loss)
per share
    
    
    (0.02
    )
    
    
    (0.06
    )
    
    
    (0.03
    )
    
    
    (0.03
    )
    
    
    (0.04
    )
 LIQUIDITY AND CAPITAL RESOURCES
  -10-




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DENISON MINES CORP.
       OFF-BALANCE SHEET ARRANGEMENTS
  TRANSACTIONS WITH RELATED PARTIES
 3 8 6 3 8 6
  3 8
 -11-




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DENISON MINES CORP.
  (in thousands)
    
    2007
    
    2006(1)RevenueUranium sales
    
    $
    9,750
    
    
    $
    Management fees (including expenses)
    
    
    2,301
    
    
    
    94Commission fees on purchase and sale of
uranium
    
    
    2,089
    
    
    
    336Other incomeLoan interest under credit facility
    
    
    202
    
    
    
    57Standby fee under credit facility
    
    
    9
    
    
    
    3Total fees earned from UPC
    
    $
    14,351
    
    
    $
    490
 (1)
    
    Reflects fees earned for the one month period of December 2006 only.   a)
    
    Sold 16,562,500 shares of Fortress Minerals Corp. (Fortress) to a company associated
with the Chairman of the Company for gross proceeds of approximately Cdn$20,703,000;b)
    
    incurred management and administrative service fees of $251,000 (2006: $237,000) with a
company owned by the Chairman of the Company which provides corporate development, office
premises, secretarial and other services in Vancouver at a rate of Cdn$18,000 per month
plus expenses. At December 31, 2007, an amount of $9,000 (2006: $100,000) was due to this
company; andc)
    
    provided executive and administrative services to Fortress and charged an aggregate of
$69,000 (2006: $112,000) for such services. At December 31, 2007, no amount (2006:
$31,000) was due from Fortress relating to this agreement.
 OUTSTANDING SHARE DATA
  CONTROLS AND PROCEDURES
  Internal Control  Integrated Framework
  -12-




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DENISON MINES CORP.
 CRITICAL ACCOUNTING ESTIMATES
   Depletion and Amortization of Property, Plant and Equipment
  Impairment of Long-Lived Assets
  Asset Retirement Obligations
  Stock-Based Compensation
  Retiree Benefit Obligation
  CHANGES IN ACCOUNTING POLICIES
  -13-




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DENISON MINES CORP.
     a)
    
    CICA Handbook Section 1530: Comprehensive Income establishes standards for reporting
comprehensive income, defined as a change in value of net assets that is not due to owner
activities, by introducing a new requirement to temporarily present certain gains and losses
outside of net income. The impact of this new standard is discussed below in c);b)
    
    CICA Handbook Section 3251: Equity establishes standards for the presentation of equity and
changes in equity during the reporting period. The adoption of this new standard by the
Company did not have a material impact;c)
    
    CICA Handbook Section 3855: Financial Instruments  Recognition and Measurement establishes
standards for the recognition, classification and measurement of financial instruments
including the presentation of any resulting gains and losses. Assets classified as
available-for-sale securities have revaluation gains and losses included in other
comprehensive income (and not included in the income statement) until such time as the asset
is disposed of or incurs a decline in fair value that is other than temporary. At such time,
any gains or losses are then realized and reclassified to the income statement. At December
31, 2006, the Company had certain long-term investments that would be classified as
available-for-sale securities under this new standard, and any unrealized gains and losses
would be included in comprehensive income; andd)
    
    CICA Handbook Section 1506: Accounting Changes (CICA 1506) effective for fiscal years
beginning on or after January 1, 2007 establishes standards and new disclosure requirements
for the reporting of changes in accounting policies and estimates and the reporting of error
corrections. CICA 1506 clarifies that a change in accounting policy can be made only if it is
a requirement under Canadian GAAP or if it provides reliable and more relevant financial
statement information. Voluntary changes in accounting policies require retrospective
application of prior period financial statements, unless the retrospective effects of the
changes are impracticable to determine, in which case the retrospective application may be
limited to the assets and liabilities of the earliest period practicable, with a corresponding
adjustment made to opening retained earnings.
  a)
    
    Accounting Standards Section 3031 Inventories provides guidance on the determination of
cost and its subsequent recognition as an expense, including any write-down to net realizable
value. It also provides guidance on the cost formulas that are used to assign costs to
inventories and is effective for the fiscal years beginning on or after January 1, 2008.b)
    
    Accounting Standards Section 3862 Financial Instruments  Disclosures requires disclosures
in the financial statements that will enable users to evaluate: the significance of financial
instruments for the Companys financial positions and performance; the nature and extent of
risks arising from financial instruments to which the Company is exposed during the period and
at the balance sheet date; and how the Company manages those risks. This accounting standard
is effective for fiscal years beginning on or after October 1, 2007.
 CONTRACTUAL OBLIGATIONS
  -14-




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DENISON MINES CORP.
  AfterTotal
    
    1 Year
    
    2-3 Years
    
    4-5 Years
    
    5 YearsOperating lease obligations
    
    $
    2,753,000
    
    
    $
    767,000
    
    
    $
    974,000
    
    
    $
    643,000
    
    
    $
    369,000
 ENVIRONMENTAL RESPONSIBILITY
     RESEARCH AND DEVELOPMENT
  RISK FACTORS
  Volatility and Sensitivity to Prices and Costs
 3 8 2 5
 -15-




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DENISON MINES CORP.
    Competition from Other Energy Sources and Public Acceptance of Nuclear Energy
  Uranium Industry Competition and International Trade Restrictions
 6
 Competition for Properties
  Replacement of Reserves and Resources
   -16-




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DENISON MINES CORP.
 Imprecision of Reserve and Resource Estimates
  Decommissioning and Reclamation
    Technical Obsolescence
  Property Title Risk
   -17-




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DENISON MINES CORP.
 Production Estimates
   Mining and Insurance
    Dependence on Issuance of Licence Amendments and Renewals
  Nature of Exploration and Development
   -18-




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DENISON MINES CORP.
    Governmental Regulation and Policy Risks
    Operations in Foreign Jurisdictions
  -19-




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DENISON MINES CORP.
   Environmental, Health and Safety Risks
    Aboriginal Title and Consultation Issues
  Accounting Policies
  Credit Risk
   -20-




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DENISON MINES CORP.
 Currency Fluctuations
  Capital Intensive Industry; Uncertainty of Funding
  Dependence on Key Personnel
  Internal Controls
  Conflicts of Interest
  Reliance on ARC as Operator
  Labour Relations
  Indemnities
  -21-




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DENISON MINES CORP.
  -22-