Northern Vertex Mining

NexGen Energy Drills 17.35 Metres of Total Composite Off-Scale Radioactivity at Rook I Property

VANCOUVER, Oct. 2, 2017 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, NYSE: NXE) is pleased to report radioactivity results for 22 holes as part of the on-going summer drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.  An additional diamond drill rig was brought into operation to assess the recently discovered South Arrow zone, which is located 400 m south of the Arrow Deposit.

Figure 1: A3 Mineralized Long Section
NexGen Energy 10 2 2017 1

Figure 2: Arrow Deposit Schematic Long Section
NexGen Energy 10 2 2017 2

Figure 3: Cross Section View of GAR-17-001
NexGen Energy 10 2 2017 3

Figure 4: Arrow Deposit Drill Hole Locations
NexGen Energy 10 2 2017 4

Eight diamond drill rigs are now active at the Arrow Deposit and South Arrow with infill, step-out and exploration drilling underway.  In addition, one sonic drill rig testing subsurface conditions as part of the pre-feasibility geotechnical study has successfully completed its work. Additional geotechnical drilling continues utilizing a diamond drill rig.  Initial geotechnical drilling discovered an interval of semi-massive pitchblende mineralization 130 m northwest and up-dip from the A1 mineral resource domain.

A3 High Grade Domain Infill Drilling

  • Infill hole AR-17-147c3 intersected 79.5 m of total composite mineralization including 17.35 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 114.5 m section (542.0 to 656.5 m). This intersection is the most extensive off-scale radioactivity intersected in the A3 shear to date (see Figure 1).
  • Infill hole AR-17-147c4 intersected 67.5 m of total composite mineralization including 5.45 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 182.0 m section (588.0 to 770.0 m).
  • Infill hole AR-17-155c2 intersected 41.0 m of total composite mineralization including 5.15 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 100.0 m section (486.5 to 586.5 m).

Expansion in the Southwest and Northeast Gaps

In the resource growth areas of the southwest and northeast gaps, broad zones of mineralization including off-scale radioactivity have been intersected throughout (Figure 2).

  • Step-out hole AR-17-129c5 intersected 71.0 m of total composite mineralization including 5.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 295.0 m section (616.5 to 911.5 m) in the A2 through A5 shears in the northeast gap.
  • Step-out hole AR-17-156c1 intersected 38.0 m of total composite mineralization including 3.0 m of total composite off-scale radioactivity (>10,000 to 30,500 cps) within a 87.0 m section (657.0 to 744.0 m) in the A3 and A4 shears in the southwest gap.
  • Step-out hole AR-17-146c2 intersected 36.0 m of total composite mineralization including 2.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 121.0 m section (661.5 to 782.5 m) in the A3 and A4 shears in the southwest gap.

Geotechnical Drilling

Geotechnical drilling testing subsurface conditions as part of the pre-feasibility study has intersected uranium mineralization northwest of the A1 shear indicating the potential for additional shears to the northwest (see Figure 3).

  • Geotechnical hole GAR-17-001 intersected 34.5 m of total composite mineralization including 0.9 m of continuous off-scale radioactivity (>10,000 to 54,000 cps) within a 265.5 m section (272.0 to 537.5 m).

Arrow Activities & Financial

  • The eight diamond drill rig summer development and exploration program consisting of an expanded 35,000 m of drilling continues to be fully operational.
  • Multiple advanced technical studies including geotechnical drilling, hydrogeological work, environmental and metallurgy are underway.
  • The Company has cash on hand of approximately $185 million.

Longitudinal sections, a cross section view of GAR-17-001, and drill hole locations are shown in Figures 1 to 4.

Garrett Ainsworth, Vice-President, Exploration and Development, commented: "The summer drill program's objectives of increasing indicated mineral resources through infill, and inferred mineral resources through step-outs continue to be achieved.  An important characteristic of the basement-hosted Arrow Deposit is its high degree of continuity in grade and thickness, which continues to be observed across the Deposit including in the A3 High Grade Domain where we expect a high conversion of inferred to indicated mineral resources.  Expansion is also clearly evident through step-out drilling in the A4 shear, southwest and northeast gaps as well as the potential for a new shear to the northwest of the A1.

Leigh Curyer, Chief Executive Officer, commented: "These latest results which include the most extensive off-scale mineralization seen to date in the A3 shear highlights considerable future drilling is required to determine the full extent of Arrow.  Infill drilling continues to demonstrate the intensity of mineralization often increases which is significant from a mine optimization planning perspective. Further, pre-feasibility study programs incorporating advanced engineering and environmental work is in full flight.  Together, with the increase in drilling focus on the exciting South Arrow Discovery, NexGen is at an exciting stage of development."

Table 1: Arrow Deposit Drill Hole Data

Drill Hole Athabasca
Group -
Basement
Unconformity
Depth (m)
Handheld Scintillometer Results (RS-120)
Hole ID Azimuth Dip Total Depth (m) From (m) To (m) Width (m) CPS Range
AR-17-129c5 327 -70 960.50 N/A 616.50 617.00 0.50 <500 -  570
655.00 657.50 2.50 <500 -  2500
692.50 693.00 0.50 4600 -  >61000
728.50 730.00 1.50 <500 -  10500
740.00 740.50 0.50 <500 -  9100
748.50 751.50 3.00 <500 -  22000
754.00 754.50 0.50 <500 -  9400
757.50 761.00 3.50 <500 -  >61000
766.00 774.00 8.00 <500 -  >61000
777.50 781.00 3.50 <500 -  >61000
784.50 789.50 5.00 <500 -  5000
793.00 800.00 7.00 <500 -  2800
803.50 804.00 0.50 <500 -  700
812.00 814.50 2.50 <500 -  2500
851.50 875.00 23.50 <500 -  57000
878.50 879.00 0.50 <500 -  1100
882.00 888.50 6.50 <500 -  13000
891.50 892.00 0.50 <500 -  2200
901.50 902.00 0.50 <500 -  1100
          911.00 911.50 0.50 <500 -  580
AR-17-129c6 327 -70 876.50 N/A 595.00 595.50 0.50 <500 -  830
          710.50 711.00 0.50 <500 -  680
735.50 736.00 0.50 <500 -  820
778.00 778.50 0.50 <500 -  740
817.00 817.50 0.50 <500 -  550
AR-17-129c7 327 -70 960.50 N/A 650.00 650.50 0.50 <500 -  780
          668.00 669.00 1.00 <500 -  670
675.50 678.50 3.00 <500 -  36000
704.50 705.50 1.00 <500 -  8700
731.00 731.50 0.50 <500 -  55000
736.00 737.00 1.00 <500 -  660
765.50 766.00 0.50 <500 -  650
783.00 789.00 6.00 <500 -  58000
791.50 795.00 3.50 <500 -  1500
804.00 804.50 0.50 <500 -  2100
807.00 813.00 6.00 <500 -  3600
815.50 818.50 3.00 <500 -  1500
829.50 831.00 1.50 <500 -  2000
856.50 857.00 0.50 <500 -  1400
AR-17-143c2 147 -70 729.50 N/A 562.00 562.50 0.50 <500 -  1400
AR-17-143c3 147 -70 974.00 N/A 662.00 664.00 2.00 <500 -  1300
          668.00 673.00 5.00 <500 -  4500
        677.00 677.50 0.50 <500 -  1000
        682.00 699.00 17.00 <500 -  11000
        702.00 704.50 2.50 <500 -  1600
        712.00 713.50 1.50 <500 -  3500
        742.50 743.00 0.50 <500 -  2600
        772.50 773.00 0.50 <500 -  2600
        813.00 813.50 0.50 <500 -  790
        856.00 860.00 4.00 <500 -  1300
        863.50 864.00 0.50 <500 -  830
        866.50 868.50 2.00 <500 -  3100
        885.50 886.00 0.50 <500 -  670
        924.00 928.00 4.00 <500 -  37000
        930.50 934.00 3.50 <500 -  >61000
        938.00 938.50 0.50 600 -  3900
AR-17-146c1 327 -70 910.50 110.40 630.50 631.50 1.00 <500 -  11000
          686.00 688.00 2.00 <500 -  45000
        691.00 695.00 4.00 <500 -  7800
        697.50 703.00 5.50 <500 -  2000
        705.50 709.50 4.00 <500 -  5800
        721.50 732.00 10.50 <500 -  15000
        734.50 735.50 1.00 <500 -  2500
        739.50 744.00 4.50 <500 -  2300
        754.00 755.50 1.50 <500 -  3000
        765.50 768.50 3.00 <500 -  3100
        795.50 797.00 1.50 <500 -  800
AR-17-146c2 327 -70 907.00 N/A 661.50 663.00 1.50 <500 -  10100
          687.00 688.00 1.00 <500 -  550
        694.50 699.00 4.50 <500 -  9100
        704.50 705.50 1.00 700 -  6300
        736.50 739.50 3.00 <500 -  830
        742.00 742.50 0.50 <500 -  1200
        747.50 763.50 16.00 <500 -  37000
        767.00 772.50 5.50 <500 -  1450
        777.00 778.00 1.00 <500 -  30000
        780.50 782.50 2.00 <500 -  >61000
AR-17-146c3 327 -70 993.50 N/A 677.00 677.50 0.50 <500 -  700
          709.00 709.50 0.50 <500 -  2300
          722.50 723.50 1.00 <500 -  9200
          728.00 732.50 4.50 <500 -  2200
          744.00 745.00 1.00 <500 -  2100
          753.00 763.00 10.00 <500 -  15000
          765.50 768.00 2.50 <500 -  1160
          770.50 772.50 2.00 <500 -  1250
          777.00 777.50 0.50 <500 -  550
          783.50 784.00 0.50 <500 -  1200
          789.00 804.50 15.50 <500 -  12600
          807.00 819.50 12.50 <500 -  7300
          825.50 826.00 0.50 <500 -  560
          912.50 913.00 0.50 <500 -  540
          946.00 946.50 0.50 <500 -  950
          954.00 956.00 2.00 <500 -  1170
          964.00 964.50 0.50 <500 -  1440
AR-17-147c1 327 -70 621.50 133.90 454.00 454.50 0.50 <500 -  3000
          492.50 495.50 3.00 <500 -  50000
          510.00 511.00 1.00 <500 -  11000
          515.00 515.50 0.50 <500 -  1800
          521.00 525.00 4.00 <500 -  45000
          532.50 536.50 4.00 <500 -  24400
          541.50 545.00 3.50 <500 -  25500
          556.50 567.50 11.00 <500 -  >61000
          572.00 573.00 1.00 <500 -  9000
          576.00 592.00 16.00 <500 -  >61000
          599.00 599.50 0.50 <500 -  1400
          606.00 607.00 1.00 <500 -  1200
AR-17-147c2 327 -70 660.50 133.90 454.50 455.00 0.50 <500 -  1300
          498.50 499.50 1.00 1000 -  12000
          530.00 530.50 0.50 700 -  10300
          534.00 534.50 0.50 <500 -  7000
          544.50 549.50 5.00 <500 -  25000
          560.00 563.00 3.00 <500 -  22000
          566.00 569.00 3.00 <500 -  6300
          580.50 581.50 1.00 <500 -  550
          592.00 593.00 1.00 <500 -  5500
          605.00 612.50 7.50 <500 -  58000
          618.50 619.00 0.50 <500 -  1000
          624.00 626.00 2.00 <500 -  1800
          629.50 630.50 1.00 <500 -  650
AR-17-147c3 327 -70 682.50 133.90 454.50 455.50 1.00 <500 -  2000
          499.50 501.00 1.50 <500 -  12000
          515.50 516.00 0.50 <500 -  530
          528.50 529.50 1.00 <500 -  9500
          536.50 539.50 3.00 <500 -  3000
          542.00 543.00 1.00 <500 -  2500
          546.50 552.00 5.50 <500 -  18600
          554.50 563.50 9.00 <500 -  23000
          573.00 573.50 0.50 <500 -  540
          579.50 587.00 7.50 <500 -  43000
          597.50 648.50 51.00 <500 - >61000
          651.50 656.50 5.00 <500 -  1200
AR-17-147c4 327 -70 870.50 133.90 522.50 527.00 4.50 <500 -  9950
          529.50 530.00 0.50 <500 -  4600
          560.00 561.50 1.50 <500 -  11000
          574.00 574.50 0.50 <500 -  670
          588.00 593.50 5.50 <500 -  18000
          614.50 615.50 1.00 <500 -  2000
          618.00 626.00 8.00 <500 -  37000
          628.50 630.00 1.50 <500 -  20000
          632.50 648.00 15.50 <500 -  >61000
          655.00 660.50 5.50 <500 -  1360
          668.00 668.50 0.50 <500 -  760
          691.00 691.50 0.50 <500 -  750
          695.00 696.00 1.00 <500 -  1100
          713.00 715.00 2.00 <500 -  1100
          717.50 723.50 6.00 <500 -  1700
          729.00 732.00 3.00 <500 -  1800
          752.50 770.00 17.50 <500 -  7600
          792.50 794.50 2.00 <500 -  2550
          804.50 814.00 9.50 <500 -  16000
          848.50 853.00 4.50 <500 -  760
AR-17-148c1 327 -70 1054.00 N/A 505.00 505.50 0.50 <500 -  1200
          682.00 682.50 0.50 <500 -  1200
          689.00 690.00 1.00 <500 -  1700
          699.50 711.00 11.50 <500 -  >61000
          733.00 735.50 2.50 <500 -  5500
          756.50 757.00 0.50 <500 -  700
          759.50 765.50 6.00 <500 -  1900
          768.50 771.50 3.00 <500 -  1200
          774.00 777.00 3.00 <500 -  3500
          791.00 794.00 3.00 <500 -  570
          797.00 798.50 1.50 <500 -  900
          802.00 805.50 3.50 <500 -  27000
          808.50 815.50 7.00 <500 -  24000
          969.50 973.00 3.50 <500 -  600
          976.00 977.50 1.50 <500 -  1100
          980.50 981.00 0.50 <500 -  580
          983.50 984.00 0.50 <500 -  530
          990.50 991.50 1.00 <500 -  600
AR-17-148c2 327 -70 1044.50 N/A 693.50 694.00 0.50 <500 -  980
          705.50 706.00 0.50 <500 -  4700
          711.50 712.50 1.00 <500 -  3400
          715.00 715.50 0.50 <500 -  700
          718.50 729.50 11.00 <500 -  10500
          739.50 741.50 2.00 <500 -  2600
          746.00 747.00 1.00 <500 -  1400
          753.00 754.00 1.00 <500 -  1000
          757.00 768.00 11.00 <500 -  1400
          777.00 777.50 0.50 <500 -  630
          788.00 789.00 1.00 530 -  2100
          791.50 795.00 3.50 <500 -  770
          805.50 806.00 0.50 <500 -  530
          816.50 817.00 0.50 <500 -  1000
          827.00 827.50 0.50 <500 -  540
          831.50 837.00 5.50 <500 -  15000
          841.00 841.50 0.50 <500 -  820
          879.50 880.50 1.00 <500 -  1000
          894.50 895.00 0.50 <500 -  1000
          907.50 908.00 0.50 <500 -  1000
          934.50 938.50 4.00 <500 -  1300
          942.00 942.50 0.50 <500 -  630
          945.50 946.00 0.50 <500 -  650
          950.00 953.50 3.50 <500 -  1100
AR-17-149c1 345 -70 1014.50 134.90 618.50 619.50 1.00 <500 -  4400
          627.00 630.50 3.50 <500 -  4800
          636.00 636.50 0.50 <500 -  1400
          643.00 647.50 4.50 <500 -  29000
          693.00 701.50 8.50 <500 -  1390
          713.50 720.00 6.50 <500 -  48000
          764.00 765.00 1.00 <500 -  850
          794.00 795.50 1.50 <500 -  7000
          798.50 799.50 1.00 <500 -  3000
          859.00 860.00 1.00 <500 -  750
          869.00 873.50 4.50 <500 -  7000
AR-17-149c2 345 -70 897.50 134.90 623.00 625.00 2.00 <500 -  52000
          638.00 638.50 0.50 <500 -  700
          670.00 670.50 0.50 <500 -  1300
          674.00 674.50 0.50 <500 -  880
          679.50 680.00 0.50 <500 -  730
          688.50 699.50 11.00 <500 -  13000
          731.50 735.00 3.50 <500 -  12600
          763.00 765.00 2.00 <500 -  6500
AR-17-154c1 327 -70 854 120.6 419.00 419.50 0.50 <500 -  680
          594.00 594.50 0.50 <500 -  1800
          598.00 598.50 0.50 <500 -  3360
          606.50 607.00 0.50 <500 -  850
          613.00 616.50 3.50 <500 -  8700
          626.00 628.00 2.00 <500 -  1600
          633.50 637.00 3.50 <500 -  1000
          643.00 643.50 0.50 <500 -  510
          646.00 646.50 0.50 <500 -  505
          678.00 679.00 1.00 <500 -  3600
          703.50 704.00 0.50 <500 -  1600
          706.50 708.00 1.50 <500 -  3600
          717.00 733.50 16.50 <500 - >61000
          736.50 737.50 1.00 <500 -  900
AR-17-154c2 327 -70 849.5 120.6 612.00 612.50 0.50 <500 -  1400
          620.50 621.00 0.50 <500 -  510
          737.50 738.00 0.50 <500 -  2200
AR-17-155c1 327 -70 828.5 128.6 422.50 423.50 1.00 <500 -  1000
          426.00 426.50 0.50 <500 -  550
          430.00 431.00 1.00 <500 -  2200
          505.00 505.50 0.50 <500 -  810
          509.50 510.00 0.50 800 -  18000
          513.50 518.00 4.50 <500 -  12000
          520.50 524.00 3.50 <500 -  13000
          531.00 532.00 1.00 <500 -  25000
          536.50 537.50 1.00 <500 -  6800
          547.00 556.50 9.50 <500 -  23000
          577.00 577.50 0.50 <500 -  2800
          584.00 586.00 2.00 <500 -  4700
          589.50 590.00 0.50 <500 -  900
          606.00 615.00 9.00 <500 -  1600
          620.00 630.00 10.00 <500 -  1200
          637.00 637.50 0.50 <500 -  510
          646.50 647.00 0.50 <500 -  520
          681.00 690.00 9.00 <500 -  3100
          693.00 698.00 5.00 <500 -  6300
          702.50 703.00 0.50 <500 -  2200
          705.50 706.50 1.00 <500 -  1550
          723.00 723.50 0.50 <500 -  780
          733.00 734.50 1.50 <500 -  2800
AR-17-155c2 327 -70 600.5 128.6 458.50 459.50 1.00 <500 -  920
          463.00 464.00 1.00 <500 -  3200
          466.50 477.50 11.00 <500 -  37000
          480.00 481.50 1.50 <500 -  2400
          486.50 487.00 0.50 <500 -  5350
          490.00 492.00 2.00 <500 -  21000
          501.00 501.50 0.50 <500 -  510
          504.00 505.00 1.00 <500 -  21000
          511.50 515.00 3.50 <500 -  16000
          519.00 520.00 1.00 <500 -  2600
          522.50 530.00 7.50 <500 -  49600
          534.00 534.50 0.50 <500 -  1900
          537.00 538.50 1.50 <500 -  6000
          542.50 545.00 2.50 <500 -  3200
          551.00 552.00 1.00 <500 -  3600
          560.50 578.00 17.50 <500 - >61000
          584.50 586.50 2.00 <500 -  950
AR-17-1556c1 327 -70 858.5 N/A 657.50 662.00 4.50 <500 -  12900
          664.50 665.00 0.50 <500 -  1300
          671.50 674.00 2.50 <500 -  21000
          676.50 703.00 26.50 <500 -  30500
          707.50 711.00 3.50 <500 -  3600
          743.50 744.00 0.50 <500 -  560
GAR-17-001 327 -70 597.1 115 272.00 277.00 5.00 <500 -  1150
          280.00 301.00 21.00 <500 -  2300
          417.50 419.50 2.00 <500 -  700
          493.50 494.00 0.50 <500 -  700
          531.50 537.50 6.00 <500 -  54000

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are meters 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 estimated.
  • "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval

Arrow Deposit Drilling

AR-17-129c5

Hole AR-17-129c5 was a directional hole that departed its pilot hole at a depth of 471 m. This step-out hole was designed to test the A4 shear approximately 50 m up-dip of AR-17-129c1. Directional drilling was initiated at 486 m. The A3 and A4 shears were both intersected at an inclination of -60°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A3 and A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, foliation, and fracture-controlled mineralization. A total composite mineralization of 71.0 m including 5.85 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 295.0 m section (616.5 to 911.5 m). In the A3 shear, 49.0 m of composite mineralization including 2.35 m of off-scale radioactivity was intersected. In the A4 shear, 17.0 m of composite mineralization including 3.1 m of off-scale radioactivity was intersected. An additional 1.5 m of composite mineralization was intersected in the A2 shear and 3.5 m of composite mineralization including 0.4 m of off-scale radioactivity was intersected in the A5 shear. The hole was terminated at 960.5 m.

AR-17-129c6

Hole AR-17-129c6 was a directional hole that departed its pilot hole at a depth of 504 m. This step-out hole was designed to test A4 shear 50 m down-dip and northeast of AR-15-57c2. Directional drilling was initiated at 516 m. The A4 shear was intersected at an inclination of -64°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A3 and A4 shears). Anomalous radioactivity was intersected in the A4 shear in association with disseminated and fracture-controlled uranium mineralization. A total composite mineralization of 2.5 m was intersected within a 222.5 m section (595.0 to 817.5 m). In the A4 shear, 2.0 m of composite mineralization was intersected. An additional 0.5 m of mineralization was intersected in the A5 shear. The hole was terminated at 876.5 m.

AR-17-129c7

Hole AR-17-129c7 was a directional hole that departed its pilot hole at a depth of 255 m. This step-out hole was designed to test A4 shear 15 m up-dip and northeast of AR-15-57c3. Directional drilling was initiated at 268 m. The A3 and A4 shears were intersected at an inclination of -64°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A3 and A4 shears).

Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, foliation, and fracture-controlled mineralization. A total composite mineralization of 28.5 m including 1.4 m of off-scale radioactivity (>10,000 to >58,000 cps) was intersected within a 207.0 m section (650.0 to 857.0 m). In the A3 shear, 11.5 m of composite mineralization was intersected. In the A4 shear, 12.5 m of composite mineralization including 1.3 m of off-scale radioactivity was intersected. An additional 4.5 m of composite mineralization was intersected in the A5 shear including 0.1 m of off-scale radioactivity. The hole was terminated at 960.5 m.

AR-17-143c2

Hole AR-17-143c2 was a directional hole that departed pilot hole AR-17-143c1 at a depth of 204 m. This step-out hole was designed to the southwest gap 50 m up-dip of AR-17-143c1. Directional drilling was initiated at 219 m. The A4 shear was intersected at an inclination of -68°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic and relatively narrow intervals of pelitic gneiss and mylonite (the A4 shear). Anomalous radioactivity was intersected in the A4 shear in association with disseminated uranium mineralization. A total composite mineralization of 0.5 m was intersected in the A4 shear. The hole was terminated at 729.5 m.

AR-17-143c3

Hole AR-17-143c3 was a directional hole that departed pilot hole AR-17-143c2 at a depth of 221 m. This step-out hole was designed to the southwest gap 50 down dip of AR-17-143c1. Directional drilling was initiated at 231 m. The A4 shear was intersected at an inclination of -72°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic and relatively narrow intervals of pelitic gneiss and mylonite (the A4 and A5 shears). Anomalous radioactivity was intersected in the A4 and A5 shears in association with stringers, disseminated, fracture, and foliation-controlled pitchblende mineralization. A total composite mineralization of 45.0 m including 1.45 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 276.5 m section (662.0 to 938.5 m). In the A4 shear, 29.5 m of composite mineralization including 0.15 m of off-scale radioactivity was intersected. In the A5 shear, 15.5 m of composite mineralization including 1.3 m of off-scale radioactivity was intersected. The hole was terminated at 974 m.

AR-17-146c1

Hole AR-17-146c1 was a step-out hole collared from surface at an angled orientation (-70°) to the northwest (327° Azimuth). The hole was designed to test the southwest gap 50 m up-dip and northeast of AR-16-103. Directional drilling was initiated at 201 m. The A3 shear was intersected at an inclination of -62°. Basement lithologies were intersected beginning at 110.4 m which consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (A3 and A4 shears). Athabasca Group sandstones were not intersected. Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, foliation, and fracture-controlled pitchblende mineralization. A total composite mineralization of 38.5 m including 0.5 m of off-scale radioactivity (>10,000 to 45,000 cps) was intersected within a 166.5 m section (630.5 to 797.0 m). In the A3 shear, 36.0 m of composite mineralization including 0.4 m of off-scale radioactivity was intersected. In the A4 shear, 1.0 m of composite mineralization including 0.1 m of off-scale radioactivity was intersected. An additional 1.5 m of composite mineralization was intersected in the A2 shear. The hole was terminated at 910.5 m.

AR-17-146c2

Hole AR-17-146c2 was a directional hole that departed pilot hole AR-17-146c1 at a depth of 331 m. This step-out hole was designed to test the southwest gap 50 m down-dip and northeast of AR-16-103. Directional drilling was initiated at 348 m. The A3 and A4 shears were both intersected at inclinations of -66°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss and relatively narrow intervals of pelitic gneiss and mylonite (the A3 and A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with disseminated, fracture, and foliation-controlled pitchblende mineralization. A total composite mineralization of 36.0 m including 2.55 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 121 m section (661.5 to 782.5 m). In the A3 shear, 28.0 m of composite mineralization including 2.5 m of off-scale radioactivity was intersected. In the A4 shear, 8.0 m of composite mineralization including 0.05 of off-scale radioactivity was intersected. The hole was terminated at 907.0 m.

AR-17-146c3

Hole AR-17-146c3 was a directional hole that departed hole AR-17-146c2 at a depth of 481 m. This step-out hole was designed to test the southwest gap 90 m down-dip and northeast of AR-16-103. Directional drilling was initiated at 496 m. The A3 and A4 shears were both intersected at inclinations of -69°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A2 through the A4 shears in association with disseminated, fracture, and foliation-controlled pitchblende mineralization. A total composite mineralization of 55.0 m including 0.45 m of off-scale radioactivity (>10,000 to 15,000 cps) was intersected within a 287.5 m section (677.0 to 964.5 m). In the A2 shear, 3.5 m of composite mineralization was intersected. In the A3 shear, 44.0 m of composite mineralization including 0.45 m of off-scale radioactivity was intersected. In the A4 shear, 7.5 m of composite mineralization was intersected. The hole was terminated at 993.5 m.

AR-17-147c1

Hole AR-17-147c1 was a directional hole collared from surface at an angled orientation (-70°) to the northwest (327° azimuth). This infill hole was designed to test the A3 shear 30 m down-dip and northeast of AR-17-121c1. Directional drilling was initiated at 201 m. The A3 shear was intersected at an inclination of -65°. Strongly bleached Athabasca Group sandstone was intersected from 123.1 m to the unconformity at 133.9 m. Basement lithologies consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (A3 and A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, fracture-controlled, foliation-controlled, and semi-massive pitchblende mineralization. A total composite mineralization of 46.0 m including 5.1 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 153.0 m section (454.0 to 607.0 m). In the A3 shear, 41.0 m of composite mineralization was intersected including 4.3 m of off-scale radioactivity. In the A4 shear, 5.0 m of composite mineralization including 0.8 m of off-scale radioactivity was intersected. The hole was terminated at 621.5 m.

AR-17-147c2

Hole AR-17-147c2 was a directional hole that departed pilot hole AR-17-147c1 at a depth of 432 m. This infill hole was designed to test the A3 shear 25 m below AR-17-147c1. Directional drilling was initiated at 441 m. The A3 shear was intersected at an inclination of -69°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss and relatively narrow intervals of pelitic gneiss and mylonite (A3 and A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, fracture-controlled, and semi-massive pitchblende mineralization. A total composite mineralization of 26.5 m including 4.8 m of off-scale radioactivity (>10,000 to 58,000 cps) was intersected within a 176 m section (454.5 to 630.5 m). In the A3 shear, 25.0 m of composite mineralization including 4.6 m of off-scale radioactivity was intersected. In the A4 shear, 1.5 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. The hole was terminated at 660.5 m.

AR-17-147c3

Hole AR-17-147c3 was a directional hole that departed pilot hole AR-17-147c2 at a depth of 448 m. This infill hole was designed to test the A3 shear 25 m below AR-17-147c2. Directional drilling was initiated at 458 m. The A3 shear was intersected at an inclination of -73°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss and relatively narrow intervals of pelitic gneiss and mylonite (A3 and A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, fracture-controlled, foliation-controlled, and semi-massive pitchblende mineralization. A total composite mineralization of 86.5 m including 17.45 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 202 m section (454.5 to 656.5 m). In the A3 shear, 79.5 m of composite mineralization including 17.35 m of off-scale radioactivity was intersected. In the A4 shear, 7.0 m of composite mineralization including 0.1 m of off-scale radioactivity was intersected. The hole was terminated at 682.5 m.

AR-17-147c4

Hole AR-17-147c4 was a directional hole that departed pilot hole AR-17-147c1 at a depth of 210 m. This infill hole was designed to test the A3 shear 25 m below AR-17-147c3. Directional drilling was initiated at 222 m. The A3 shear was intersected at an inclination of -72°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A2 through A4 shears in association with stringers, disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 90.5 m including 5.7 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 330.5 m section (522.5 to 853.0 m). In the A2 shear, 16.0 m of composite mineralization including 0.15 m of off-scale radioactivity was intersected. In the A3 shear, 67.5 m of composite mineralization including 5.45 m of off-scale radioactivity was intersected. In the A4 shear, 7.0 m of composite mineralization including 0.1 m of off-scale radioactivity was intersected. The hole was terminated at 870.5 m.

AR-17-148c1

Hole AR-17-148c1 was a directional hole collared from the surface at an angled orientation (-70°) to the northwest (327° azimuth). This step-out hole was designed to the southwest gap 50 m below AR-16-103. Directional drilling was initiated at 300 m. The A3 shear was intersected at an inclination of -69°.

Basement lithologies were intersected beginning at 108.0 m which dominantly consist of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 through A4 shears in association with disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 50.5 m including 2.0 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 486.5 m section (505.0 to 991.5 m). In the A2 shear, 7.0 m of composite mineralization was intersected. In the A3 shear, 15.0 m of composite mineralization including 1.0 m of off-scale radioactivity was intersected. In the A4 shear, 28.0 m of composite mineralization was intersected including 1.0 m of off-scale radioactivity. An additional 0.5 m of composite mineralization was intersected in the A5 shear. The hole was terminated at a depth of 1054.0 m.

AR-17-148c2

Hole AR-17-148c2 was a directional hole that departed pilot hole AR-17-148c1 at a depth of 628 m. This step-out hole was designed to the southwest gap 100 m down-dip of AR-16-103. Directional drilling was initiated at 642 m. The A3 shear was intersected at an inclination of -76°.Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (A3 and A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A3 and A4 shears in association with disseminated, and fracture-controlled pitchblende mineralization. A total composite mineralization of 51.5 m including 0.2 m of off-scale radioactivity (>10,000 to 15,000 cps) was intersected within a 260 m section (693.5 to 953.5 m). In the A3 shear, 10.5 m of composite mineralization was intersected. In the A4 shear, 41.0 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. The hole was terminated at a depth of 1044.5 m.

AR-17-149c1

Hole AR-17-149c1 was a directional hole collared from the surface at an angled orientation (-70°) to the northwest (345° Azimuth). It was a step-out hole designed to test the northeast gap 110 m down-dip and northeast of AR-17-116c2. Directional drilling was initiated at 201 m. The A3 shear was intersected at an inclination of -68°.The hole intersected bleached Athabasca Group sandstones between 122.0 m and the unconformity at 134.9 m. Basement lithologies dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 and A3 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 33.5 m including 0.95 m of off-scale radioactivity (>10,000 to 48,000 cps) was intersected within a 255 m section (618.5 to 873.5 m). In the A2 shear, 9.0 m of composite mineralization was intersected. In the A3 shear, 24.5 m of composite mineralization including 0.95 m of off-scale radioactivity was intersected. The hole was terminated at a depth of 1014.5 m.

AR-17-149c2

Hole AR-17-149c2 was a directional hole that departed pilot hole AR-17-149c1 at a depth of 540 m. This step-out hole was designed to test the northeast gap 50 m above AR-17-149c1. Directional drilling was initiated at 552 m. The A2 shear was intersected at an inclination of -64°. Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A3 shears). The hole successfully intersected anomalous radioactivity in the A2 and A3 shears in association with stringers, disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 20.5 m including 0.6 m of off-scale radioactivity (>10,000 to 52,000 cps) was intersected within a 142 m section (623.0 to 765.0 m). In the A2 shear, 5.5 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. In the A3 shear, 15.0 m of composite mineralization including 0.4 m of off-scale radioactivity was intersected. The hole was terminated at a depth of 897.5 m.

AR-17-154c1

Hole AR-17-154c1 was a directional hole collared from the surface at an angled orientation (-70°) to the northwest (327° Azimuth). It was a step-out hole designed to test the northeast gap 20 m up-dip and northeast of AR-17-133c2. Directional drilling was initiated at 205 m. The A2 shear was intersected at an inclination of -65°. The hole intersected bleached Athabasca Group sandstones between 108.9 m and the unconformity at 120.6 m. Basement lithologies dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 through the A4 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 32.5 m including 1.8 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 318.5 m section (419.0 to 737.5 m). In the A2 shear, 21.0 m of composite mineralization including 1.8 m of off-scale radioactivity was intersected. In the A3 shear, 11.0 m of composite mineralization was intersected. Additionally, 0.5 m of composite mineralization was intersected in the A4 shear. The hole was terminated at a depth of 854.0 m.

AR-17-154c2

Hole AR-17-154c2 was a directional hole that departed pilot hole AR-17-154c1 at a depth of 228 m. This step-out hole was designed to test the northeast gap 80 m up-dip and northeast of AR-17-149c1 m. Directional drilling was initiated at 244 m. The A2 shear was intersected at an inclination of -68°. Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A3 shears). The hole successfully intersected anomalous radioactivity in the A2 and A3 shears in association with stringers, disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 1.5 m was intersected within a 126 m section (612.0 to 738.0 m). In the A2 shear, 0.5 m of composite mineralization was intersected. In the A3 shear, 1.0 m of composite was intersected. The hole was terminated at a depth of 849.5 m.

AR-17-155c1

Hole AR-17-155c1 was a directional hole collared from surface at an angled orientation (-70°) to the northwest (327° azimuth). This infill hole was designed to test the A3 shear 22 m up-dip from AR-17-118c1. Directional drilling was initiated at 202 m. The A3 shear was intersected at an inclination of -69°. Strongly bleached Athabasca Group sandstone was intersected from 120.7 m to the unconformity at 128.7 m. Basement lithologies consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (A2 through the A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A2 through A4 shears in association with stringers, disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 63.5 m including 0.85 m of off-scale radioactivity (>10,000 to 25,000 cps) was intersected within a 312.0 m section (422.5 to 734.5 m). In the A2 shear, 17.5 m of composite mineralization was intersected. In the A3 shear, 38.0 m of composite mineralization was intersected including 0.55 m of off-scale radioactivity. In the A4 shear, 8.0 m of composite mineralization including 0.3 m of off-scale radioactivity was intersected. The hole was terminated at 828.5 m.

AR-17-155c2

Hole AR-17-155c2 was a directional hole that departed pilot hole AR-17-155c1 at a depth of 202 m. This infill hole was designed to test the A3 shear 34 m up-dip of AR-15-057c5. Directional drilling was initiated at 202 m. The A3 shear was intersected at an inclination of -67°. Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss and relatively narrow intervals of pelitic gneiss and mylonite (A3 and A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, fracture-controlled, foliation-controlled and worm rock pitchblende mineralization. A total composite mineralization of 55.5 m including 5.7 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 128 m section (458.5 to 586.5 m). In the A3 shear, 41.0 m of composite mineralization including 5.15 m of off-scale radioactivity was intersected. In the A4 shear, 14.5 m of composite mineralization including 0.55 m of off-scale radioactivity was intersected. The hole was terminated at 600.5 m.

AR-17-156c1

Hole AR-17-156c1 was a step-out hole collared from surface at an angled orientation (-70°) to the northwest (327° Azimuth). The hole was designed to test the southwest gap 45 m southwest of AR-16-103. Directional drilling was initiated at 157 m. The A3 shear was intersected at an inclination of -63°. Basement lithologies were intersected beginning at 103.5 m which consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (A3 and A4 shears). Athabasca Group sandstones were not intersected. Anomalous to strongly anomalous radioactivity was intersected in the A3 and A4 shears in association with stringers, disseminated, foliation, and fracture-controlled pitchblende mineralization. A total composite mineralization of 38.0 m including 3.0 m of off-scale radioactivity (>10,000 to 30,500 cps) was intersected within an 86.5 m section (657.5 to 744.0 m). In the A3 shear, 33.5 m of composite mineralization including 2.8 m of off-scale radioactivity was intersected. In the A4 shear, 4.5 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. The hole was terminated at a depth of 858.5 m.

GAR-17-001

GAR-17-001 was the first hole drilled in the geotechnical segment of the Pre-Feasibility Study. The hole was collared from surface at an angled orientation (-70°) to the northwest (327° azimuth). The purpose of the hole was to provide data on the geotechnical and hydrogeological characteristics of the Arrow Deposit host rocks and overburden. Strongly bleached Athabasca Group sandstone was intersected from 104.2 m to the unconformity at 115.0 m. Basement lithologies consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite associated with the A1 shear zone. Anomalous to strongly anomalous radioactivity was intersected in the A1 shear in association with stringers, disseminated, and fracture-controlled pitchblende mineralization. A second zone of strongly anomalous radioactivity anchored by a narrow vein of semi-massive pitchblende mineralization was intersected in a new area northwest of the A1 shear. A total composite mineralization of 34.5 m including 0.9 m of off-scale radioactivity (>10,000 to 54,000 cps) was intersected within a 265.5 m section (272.0 m to 537.5 m). In the A1 shear, 28.0 m of composite mineralization was intersected. In the new zone northwest of the A1 shear, 6.5 m of composite mineralization was intersected including 0.9 m of off-scale radioactivity. The hole was terminated at a depth of 597.1 m.

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Discovery in February 2014 and Bow Discovery in March 2015 and the Harpoon discovery in August 2016. The Arrow deposit's updated mineral resource estimate with an effective date of December 20, 2016 was released in March 2017, and comprised 179.5 M lbs U3O8 contained in 1.18 M tonnes grading 6.88% U3O8 in the Indicated Mineral Resource category and an additional 122.1 M lbs U3O8 contained in 4.25 M tonnes grading 1.30% U3O8 in the Inferred Mineral Resource category.

Technical Information

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-120 gamma-ray scintillometer. 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.

Split core samples will be taken systematically, and intervals will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples sent to SRC will be analyzed using ICP-MS for trace elements on partial and total digestions, ICP-OES for major and minor elements on a total digestion, and fusion solution of boron by ICP-OES. Mineralized samples are analyzed for U3O8 by ICP-OES and select samples for gold by fire assay. Assay results will be released when received and after stringent internal QA/QC protocols are passed.

All scientific and technical information in this news release has been prepared by or reviewed and approved by Mr. Garrett Ainsworth, P.Geo., Vice President – Exploration & Development for NexGen. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols. For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the mineral resource please refer to the technical report entitled "Technical Report on the Preliminary Economic Assessment of the Arrow Deposit, Rook 1 Property, Province of Saskatchewan, Canada" dated effective September 1, 2017 (the "Rook 1 Technical Report") prepared by Jason J. Cox, David M. Robson, Mark B. Mathisen, David A. Ross, Val Coetzee and Mark Wittrup, each of whom is a "qualified person" under NI 43-101. The Rook I Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com. All intersections are downhole, true thicknesses are yet to be determined.

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VALORE METALS (TSX.V: VO)

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