"We have not had any contact with Blackburn over Saul Deeney," Dearden told the Evening Post.
"Earlier in the season we allowed him to go there on loan.
"And we understand they were impressed with what they saw in him.
"But there has been no further contact since, they certainly haven't made an offer for him." Added Dearden.
Dearden also hinted that when and if Notts secure safety in Division 2, he may give Deeney a few games to get some experience, as the Irishman is yet to make a first team appearance in professional football.
"Our priority is still to win as many matches as possible," Dearden added.
"But once we have done that it is possible that we might consider giving Saul a bit of experience.
"But we do have a lot to think about before that."