NexGen Announces Best Hole to Date (RK-24-222) and High-Grade Expansion at Patterson Corridor East Concluding a Successful 2024 Drilling Program

Company news release Source: Cision
12 November 2024, 6:30 a.m. EST
  • NexGen's 2024 exploration campaign delivered a new discovery on Rook I at Patterson Corridor East ("PCE") 3.5km east of Arrow.
  • Subsequent drilling has materially expanded the mineralized zone to 600 m strike length and 600 m vertical extent with 19 of 30 holes intersecting mineralization including 10 holes with multiple intervals >10,000 cps.
  • Today's announcement highlights the best hole to date at PCE (RK-24-222) returns 17.0 m wide vein with multiple high intensity (>61,000 cps) occurrences.
  • In 2024, PCE is the largest drill program in the Athabasca Basin by any Company at 34,000 meters (m).

VANCOUVER, BC, Nov. 12, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is proud to announce the completion of its 2024 drilling campaign at Patterson Corridor East (PCE) that included more than 34,000 m across a total of 46 drillholes. Upon initial discovery of intense uranium mineralization at PCE (see March 11 News Release), the Company directed all drilling activity to focus exclusively on PCE, whereby 19 of 30 holes intersected mineralization. Bold and systematic spacing of drillhole intercepts have quickly grown the discovery from a single hole to a broad and continuous new uranium discovery. Real-time evaluation of results throughout the duration of the program focused on determining the overall outer extents of the mineralized zone and in parallel, precisely targeting high-grade sub-domains (Figures 1 and 2, Table 1).

In late October, a high-grade portion has presented itself within the overall mineralized zone with upgraded intensity of mineralization in the now best hole to date, RK-24-222 (Figure 3). A 17.0 m wide vein with multiple occurrences of off-scale (>61,000 cps) mineralization (Table1, Figure 3). In addition, RK-24-220 and -223 intersected strong mineralization up to 41,000 cps and 40,000 cps, respectively including multiple intercepts of >10,000 cps.  System strength is confirmed by these zones characterized by semi-massive to massive replacement by uraninite. A high-grade sub-domain of the mineralized footprint now covers 100 m of strike and 170 m of depth extent with potential growth in all directions (Figure 2). The high-grade intersection in RK-24-222 represents the fifth drillhole at PCE to return off-scale (>61,000 cps) mineralization, joining previous significant intersections in RK-24-183, -197, -202, and -207.

Leigh Curyer, Chief Executive Officer, commented: "This focused effort has elevated the materiality of PCE and today's results highlight the increasing potential of the PCE system with RK-24-222. With 600 m of strike length and 600 m of depth extent, this new zone located entirely within competent basement rock only 3.5 km from the flagship world-class Arrow deposit has emerged as a compelling and prospective addition to NexGen's dominant portfolio in the south western section of the Athabasca Basin.

NexGen's disciplined dual focus on the advancement of the Rook I Project and the expanded exploration at PCE demonstrates the Company's commitment to unlocking the full potential of this major uranium district at a time where the need for clean affordable safe baseload energy has never been more evident. With the world's leading tech companies all committing to nuclear power in recent month's the outlook is incredibly exciting in the nuclear fuel space."

Assays from disclosed intersections are expected in Q4 2024 and Q1 2025, with reporting to follow.  Exploration activity will resume in January 2025 with planning underway for a significant drill program at PCE where the prospectivity for material growth is clearly evident.  

Figure 1: Map view of PCE target area with the mineralized footprint wireframe shown in red; as of November 11, 2024 (CNW Group/NexGen Energy Ltd.)

Figure 2: Schematic long section comparison from mid-summer 2024 to November 2024 of mineralized footprint at PCE; additional drilling has maintained internal continuity with modest expansion in most directions (CNW Group/NexGen Energy Ltd.)

Figure 3: Core photo from RK-24-222; high-grade mineralization is hosted near continuously within an overall vein width of 17.0 m from 604.5 to 621.5 m with a secondary vein below from 623.0 to 626.0 m; yellow outlines >1,000 cps while red outlines >10,000 cps (CNW Group/NexGen Energy Ltd.)

Figure 4: RK-24-222 close-up of off-scale (>61,000 cps) massive replacement by uraninite haloed by hematite at 607.4 m (CNW Group/NexGen Energy Ltd.)

Figure 5: RK-24-222 semi-massive replacement by uraninite accompanied by argillization and hematite at 618.5 m, max peak of >61,000 cps (CNW Group/NexGen Energy Ltd.)

Table 1: 2024 Spectrometer results since previous release on August 8, 2024

Drillhole

Unconformity

Depth (m)

Handheld Spectrometer Results (RS-125)

Hole ID

Azimuth

Dip

Total

Depth (m)

From

(m)

To (m)

Width

(m)

CPS Range

RK-24-208

310

-70

756

104.3

435

435.5

0.5

<500











435.5

436

0.5

<500 - 710











522

522.5

0.5

<500











523

523.5

0.5

<500











655

655.5

0.5

<500 - 750











655.5

656

0.5

<500











657.5

658

0.5

<500











658.5

659

0.5

<500











665.5

666

0.5

<500











666

666.5

0.5

<500 - 610











669.5

670.5

1

<500











670.5

671

0.5

560 - 950











671

671.5

0.5

1400 - 3560











673

673.5

0.5

<500 - 690











673.5

674

0.5

500 - 1140











674

675

1

<500











680

681

1

<500











685.5

686

0.5

<500 - 600











686.5

687

0.5

600 - 800











687

687.5

0.5

900 - 3000











687.5

688

0.5

<500 - 3000











689

689.5

0.5

<500 - 500











689.5

690

0.5

1300 - 5700











690

690.5

0.5

<500 - 2400











690.5

691

0.5

<500











691.5

692

0.5

<500 - 1800











692

692.5

0.5

<500 - 1600











692.5

693

0.5

<500











693

693.5

0.5

<500 - 1300











693.5

694

0.5

<500 - 500











694

694.5

0.5

<500 - 610











694.5

695

0.5

<500 - 600











695

695.5

0.5

550 - 1500











695.5

696

0.5

<500 - 3500











696

696.5

0.5

<500 - 810











697.5

698.5

1

<500

RK-24-209

310

-70

840

110.7

395

396

1

<500











627.5

628

0.5

<500 - 510











695

695.5

0.5

<500











759

759.5

0.5

<500 - 600

RK-24-210

310

-70

1095

102.4

639

639.5

0.5

<500











639.5

640

0.5

<500 - 510











640

640.5

0.5

<500











854

854.5

0.5

<500 - 700











854.5

855

0.5

<500











855.5

856

0.5

<500 - 1600











856

856.5

0.5

<500 - 1800











857.5

858

0.5

<500











858

858.5

0.5

<500 - 1600











862

862.5

0.5

<500 - 950











863.5

864

0.5

<500 - 700











869

869.5

0.5

<500 - 600











869.5

870

0.5

<500 - 500











874.5

875

0.5

<500 - 550











875.5

876

0.5

<500 - 3800











876

876.5

0.5

2700 - 6500











876.5

877

0.5

<500 - 1100











877

879

2

<500











879

879.5

0.5

<500 - 1200











879.5

880

0.5

<500 - 700











880

880.5

0.5

<500 - 750











880.5

881

0.5

600 - 1200











881

881.5

0.5

<500 - 600











881.5

882

0.5

<500 - 900











882

882.5

0.5

<500 - 1500











882.5

883

0.5

800 - 3400











883

883.5

0.5

<500 - 520











884.5

885

0.5

<500











885.5

886

0.5

<500 - 600











886

886.5

0.5

<500 - 1100











886.5

887

0.5

<500 - 1600











888

888.5

0.5

<500











888.5

889

0.5

<500 - 900











915.5

916.5

1

<500











920

920.5

0.5

<500 - 500











921

921.5

0.5

<500 - 700











921.5

922

0.5

<500

RK-24-211

310

-70

1302

103.1

776.5

777

0.5

<500











784

784.5

0.5

<500











1116.5

1117

0.5

<500

RK-24-212

315

-70

137

121

No Significant Intersections

RK-24-213

310

-70

936

87

No Significant Intersections

RK-24-214

310

-70

989

111.6

463

463.5

0.5

<500











466.5

467

0.5

<500











859.5

860

0.5

<500











862.5

863.5

1

<500











863.5

864

0.5

<500 - 950











865

865.5

0.5

<500











865.5

866

0.5

<500 - 540











866

866.5

0.5

<500 - 1400











867.5

868

0.5

<500











868

868.5

0.5

<500 - 650











868.5

869

0.5

<500 - 2200











869.5

870

0.5

<500

RK-24-215

310

-70

840

114.8

542

542.5

0.5

600 - 1300











542.5

543

0.5

2200 - 3200











543

543.5

0.5

6000 - 11000











543.5

544

0.5

<500 - 5000











544

544.5

0.5

<500 - 700











544.5

545

0.5

600 - 3500











545

545.5

0.5

500 - 1800











545.5

546

0.5

<500 - 700











546

546.5

0.5

<500 - 1400











546.5

547

0.5

<500 - 1150











547

547.5

0.5

<500











551.5

552

0.5

<500 - 1700











552

553.5

1.5

<500











564.5

565

0.5

<500 - 700











570

570.5

0.5

<500











570.5

571

0.5

<500 - 800











571

571.5

0.5

<500











571.5

572

0.5

<500 - 600











572

572.5

0.5

<500











583.5

584

0.5

<500











584.5

585

0.5

<500











585

585.5

0.5

600 - 1500











585.5

586

0.5

<500 - 550











586

586.5

0.5

<500 - 700











586.5

587

0.5

<500 - 800











587

588

1

<500











588

588.5

0.5

600 - 2000











588.5

589

0.5

700 - 2100











589

589.5

0.5

<500 - 1300











589.5

590

0.5

1200 - 1500











590.5

591

0.5

<500











600

600.5

0.5

<500 - 500











604.5

605

0.5

<500











608.5

609

0.5

<500











609

609.5

0.5

800 - 2850











609.5

610

0.5

<500











610

610.5

0.5

<500 - 850











621.5

622

0.5

<500 - 1500











622

622.5

0.5

<500 - 700











643

643.5

0.5

<500











646

646.5

0.5

<500 - 700











646.5

647

0.5

<500 - 1300











647

647.5

0.5

<500 - 2500











647.5

648

0.5

<500 - 700











648

649

1

<500











657

657.5

0.5

<500 - 1200











658

658.5

0.5

<500 - 500











658.5

659

0.5

<500 - 500











659

659.5

0.5

<500 - 1950











665.5

666

0.5

<500 - 600











681

681.5

0.5

<500 - 900











681.5

682

0.5

<500 - 850

RK-24-216

310

-70

1071

99.7

787

787.5

0.5

<500 - 600











787.5

788

0.5

1100 - 3700











788

788.5

0.5

800 - 1200











788.5

789

0.5

<500











789.5

790

0.5

<500 - 700











790

790.5

0.5

<500 - 700











790.5

791

0.5

<500











791.5

792

0.5

<500 - 550











805

805.5

0.5

<500 - 740











805.5

806

0.5

<500











807.5

808.5

1

<500











811.5

812

0.5

<500 - 5800











815

815.5

0.5

<500 - 760











815.5

816

0.5

<500 - 700











819

820

1

<500

RK-24-217

310

-70

1185

105.6

519

520

1

<500











528.5

529

0.5

<500











709

710

1

<500

RK-24-217a

310

-70

120

105.1

No Significant Intersections

RK-24-218

310

-70

696

109.6

325.5

326

0.5

<500 - 830











424.5

425

0.5

<500 - 550











425.5

426

0.5

<500











463.5

464

0.5

<500 - 520











494.5

495

0.5

<500 - 550











515.5

516

0.5

<500











516

516.5

0.5

<500 - 700











516.5

517

0.5

<500 - 1200











517

517.5

0.5

500 - 4300











517.5

518

0.5

<500 - 1200











518

518.5

0.5

1000 - 2000











518.5

519

0.5

<500 - 1000

RK-24-219

310

-70

1187

99.8

758.5

759

0.5

<500 - 1050











759.5

760

0.5

<500 - 1100











897.5

898

0.5

<500











982

982.5

0.5

<500 - 570

RK-24-220

310

-70

732

116

387

387.5

0.5

<500











445.5

446

0.5

<500 - 510











446

446.5

0.5

<500 - 660











446.5

447

0.5

<500











452

452.5

0.5

<500 - 2400











452.5

453

0.5

<500 - 2000











453

454.5

1.5

<500











454.5

455

0.5

<500 - 650











455.5

456

0.5

<500 - 1700











456

456.5

0.5

600 - 1300











456.5

457

0.5

<500 - 1200











457

457.5

0.5

700 - 27000











457.5

458

0.5

1700 - 41000











459.5

460

0.5

<500 - 550











460

461

1

<500











461

461.5

0.5

<500 - 7000











461.5

462

0.5

<500 - 6000











462

462.5

0.5

740 - 2000











462.5

463

0.5

3500 - 4500











463

463.5

0.5

1300 - 6000











463.5

464

0.5

600 - 6500











464

464.5

0.5

600 - 2000











464.5

465

0.5

700 - 4000











465

465.5

0.5

<500 - 5600











465.5

466

0.5

1200 - 8200











466

466.5

0.5

<500 - 6000











477.5

478

0.5

<500 - 750











478

478.5

0.5

<500 - 800











479

479.5

0.5

<500











479.5

480

0.5

<500 - 800











480

480.5

0.5

<500 - 680











480.5

481

0.5

680 - 1300











481

481.5

0.5

<500 - 600











481.5

482

0.5

<500











482

482.5

0.5

<500 - 520











482.5

483

0.5

<500 - 520











483

483.5

0.5

<500











483.5

484

0.5

<500 - 800











484

484.5

0.5

<500 - 1100











484.5

485

0.5

<500 - 16000











485

485.5

0.5

3000 - 16000











485.5

486

0.5

<500 - 7000











486

486.5

0.5

<500 - 13000











486.5

487

0.5

<500 - 1200











487

488

1

<500











489

489.5

0.5

<500 - 640











489.5

490

0.5

<500 - 950











490

490.5

0.5

<500 - 800











490.5

491

0.5

<500 - 2100











491

491.5

0.5

<500 - 6000











491.5

492

0.5

<500 - 840











495

495.5

0.5

<500











495.5

496

0.5

<500 - 6800











496

496.5

0.5

<500 - 4100











496.5

497

0.5

<500 - 6000











497

497.5

0.5

2600 - 2600











497.5

498

0.5

<500 - 500











498

498.5

0.5

<500 - 1800











498.5

499

0.5

<500











503

503.5

0.5

<500 - 1500











503.5

504.5

1

<500











525.5

526

0.5

<500











539

539.5

0.5

<500











539.5

540

0.5

540 - 7300











570.5

571

0.5

<500 - 730











579.5

580

0.5

<500











580

580.5

0.5

<500 - 510











580.5

581

0.5

<500 - 520











583

583.5

0.5

<500











583.5

584

0.5

<500 - 1500











584

584.5

0.5

<500 - 620











596.5

597

0.5

<500 - 1300











597

597.5

0.5

<500 - 1300











599.5

600

0.5

<500

RK-24-221

310

-70

861.6

115.9

302

302.5

0.5

<500











302.5

303

0.5

<500 - 600











303

303.5

0.5

<500 - 830











594.5

595

0.5

<500











595

595.5

0.5

<500 - 1700











597.5

598

0.5

<500 - 5500











599

599.5

0.5

<500 - 2700











642

642.5

0.5

<500











642.5

643

0.5

<500 - 520











643

643.5

0.5

<500 - 1100











644

644.5

0.5

<500











650.5

651

0.5

<500 - 670











697.5

698

0.5

<500











698

698.5

0.5

<500 - 2300

RK-24-222

354

-65

753

108.4

588

588.5

0.5

770 - 1200











598

599.5

1.5

<500











602.5

603

0.5

<500 - 820











603

603.5

0.5

640 - 2000











603.5

604.5

1

<500











604.5

605

0.5

3000 - 20000











605

605.5

0.5

5800 - 17000











605.5

605.6

0.1

18000 - 60000











605.6

605.7

0.1

>61000











605.7

606

0.3

9000 - 60000











606

606.5

0.5

1800 - 10000











606.5

607

0.5

<500 - 730











607

607.4

0.4

3000 - 60000











607.4

607.8

0.4

>61000











607.8

608

0.2

5000 - 60000











608

608.2

0.2

16000 - 60000











608.2

608.4

0.2

>61000











608.4

608.5

0.1

10000 - 60000











608.5

609

0.5

6400 - 42000











609

609.5

0.5

10000 - 25000











609.5

610

0.5

7000 - 25000











610

610.5

0.5

<500 - 6000











610.5

610.9

0.4

7000 - 60000











610.9

611

0.1

>61000











611

611.5

0.5

4000 - 26000











611.5

612

0.5

3000 - 10000











612

612.5

0.5

700 - 3000











612.5

613

0.5

3000 - 7000











613

613.5

0.5

700 - 6000











613.5

614

0.5

2000 - 33000











614

614.5

0.5

900 - 6000











614.5

615

0.5

1900 - 39000











615

615.5

0.5

580 - 15000











615.5

616

0.5

500 - 5000











616

616.5

0.5

900 - 7500











616.5

617

0.5

900 - 25000











617

617.5

0.5

2800 - 14000











617.5

618

0.5

1100 - 3500











618

618.4

0.4

1300 - 60000











618.4

618.5

0.1

>61000











618.5

619

0.5

15000 - 31000











619

619.5

0.5

9800 - 39000











619.5

620

0.5

3400 - 14500











620

620.5

0.5

1800 - 24000











620.5

621

0.5

2500 - 25000











621

621.5

0.5

<500 - 2800











622

622.5

0.5

<500 - 580











622.5

623

0.5

<500 - 800











623

623.5

0.5

550 - 18000











623.5

624

0.5

500 - 1400











624

624.5

0.5

<500 - 700











624.5

625

0.5

<500 - 10000











625

625.4

0.4

500 - 60000











625.4

625.5

0.1

>61000











625.5

626

0.5

700 - 40000











627

627.5

0.5

<500











629

629.5

0.5

<500 - 1000











640

640.5

0.5

<500 - 600











640.5

641

0.5

<500 - 510











649

649.5

0.5

<500











658

658.5

0.5

<500 - 800











658.5

659

0.5

<500











665

665.5

0.5

<500











668

668.5

0.5

<500 - 800











668.5

669

0.5

<500 - 560











671

671.5

0.5

<500











687

687.5

0.5

<500

RK-24-223

345

-66

TBD

106.8

336

336.5

0.5

<500 - 800











633

633.5

0.5

<500 - 7200











633.5

634

0.5

<500 - 40000











634

634.5

0.5

<500 - 1300











634.5

635

0.5

<500 - 1700











635

635.5

0.5

<500











645.5

646

0.5

<500 - 740











646

646.5

0.5

2100 - 10000











646.5

647

0.5

7500 - 24000











647

647.5

0.5

1000 - 24000











675

675.5

0.5

500 - 4200











675.5

676

0.5

1200 - 7200











676

676.5

0.5

<500 - 3700











678

678.5

0.5

<500 - 700











678.5

679

0.5

<500











679.5

680

0.5

<500 - 800











689.5

690

0.5

<500 - 2500











690

690.5

0.5

5000 - 14000











690.5

691

0.5

4000 - 12000











691

691.5

0.5

<500 - 6000











691.5

692

0.5

3000 - 12000











692

692.5

0.5

5000 - 14000











692.5

693

0.5

<500 - 1100











695.5

696

0.5

<500 - 3100











696

696.5

0.5

<500 - 1500











696.5

697

0.5

<500











702.5

703.5

1

<500











704.5

705

0.5

<500











713.5

714

0.5

<500 - 1700











714.5

715

0.5

<500











715

715.5

0.5

<500 - 1200











716

716.5

0.5

1200 - 1800











716.5

717

0.5

<500 - 1100











717

717.5

0.5

1500 - 2200











717.5

718

0.5

<500 - 2000











718

718.5

0.5

<500 - 5100











720.5

721

0.5

<500 - 5900











721

721.5

0.5

<500 - 2000











722

722.5

0.5

1100 - 12000











722.5

723

0.5

1500 - 23000











723

723.5

0.5

3500 - 37000











726

726.5

0.5

<500 - 3000











726.5

727

0.5

3000 - 12000











727

727.5

0.5

<500











737.5

738

0.5

<500 - 5000











738

738.5

0.5

<500 - 1400











743

743.5

0.5

<500 - 700











749

750

1

<500











756.5

757

0.5

<500











757.5

758

0.5

<500











758.5

759

0.5

<500











759

759.5

0.5

<500 - 720











760

760.5

0.5

<500 - 3000











763.5

764

0.5

<500 - 650











764.5

765.5

1

<500











765.5

766

0.5

900 - 3700











766

766.5

0.5

800 - 15000











766.5

767

0.5

800 - 25000











767

767.5

0.5

1000 - 11000











767.5

768

0.5

<500











772

772.5

0.5

<500-500











772.5

773

0.5

<500











773.5

774

0.5

<500 - 700











774

774.5

0.5

<500 - 10000











775

775.5

0.5

<500

RK-24-224

310

-70

TBD

115.8

TBD

  • All depths and intervals are meters downhole, true thicknesses are yet to be determined.
  • "Off-scale" refers to >61,000 cps total readings by gamma spectrometer type RS-125.
  • Unconformity of 'N/A' denotes a lack of visible contact between Athabasca sandstone and basement rock.
  • Maximum internal dilution 2.0 m downhole.
  • Minimum thickness of 0.5 m downhole.
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be determined.

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company's flagship Rook I Project is being optimally developed into the largest low cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations, and closure.  NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically, and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.  

NexGen is listed on the Toronto Stock Exchange, the New York Stock Exchange under the ticker symbol "NXE" and on the Australian Securities Exchange under the ticker symbol "NXG" providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security and access to power.  The Company is headquartered in Vancouver, British Columbia, with its primary operations office in Saskatoon, Saskatchewan.

www.nexgenenergy.ca

Technical Disclosure*

All technical information in this news release has been reviewed and approved by Jason Craven, NexGen's Manager, Exploration, a qualified person under National Instrument 43-101.

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-125 gamma spectrometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.

A technical report in respect of the FS is filed on SEDAR ( www.sedar.com ) and EDGAR (www.sec.gov/edgar.shtml ) and is available for review on NexGen Energy's website (www.nexgenenergy.ca ).

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission ("SEC") set by the SEC's rules that are applicable to domestic United States reporting companies.   Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the project and expected outcomes. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property , the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen's Annual Information Form dated  March 6, 2024 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR at www.sedar.com and Edgar at www.sec.gov .

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

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SOURCE NexGen Energy Ltd.