Great Bear Resources

NexGen Energy Completes Phase I of Feasibility-Stage Drill Program Intersecting High Grade Mineralization and Preliminarily Assessed Robust Geotechnical and Hydrogeological Conditions in all Areas of Arrow

VANCOUVER, Aug. 7, 2019 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity results for an additional thirty-seven holes comprising 16,585.5 m from the Company's Feasibility-stage drilling program at our 100% owned, Rook I property in the Athabasca Basin Saskatchewan. The Phase I resource component of the 2019 Feasibility stage program has completed 117 holes totaling 50,968 m.  Utilizing new directional drilling technology, AziDrill, the Company was able to reduce the metres required for Phase I conversion by 28% due to the ability to target mineralization more accurately with deeper directional cuts from the pilot hole.

Further, an additional 14 holes of 6,314.4 m were completed designed to geotechnically and hydrogeologically characterize the rock mass within areas of the proposed mine workings and the Underground Tailings Management Facility ("UGTMF").

In total, the 2019 Phase I winter drilling program comprised 131 completed holes totaling 57,282.4 m.

Phase I: Conversion of Indicated to Measured Mineral Resources

This current phase of the 2019 drilling program targeted the A2 and A3 High-Grade Domains for conversion of Indicated to Measured Mineral Resources within the proposed mine plan at a drill hole spacing of between 9.0 m and 16.7 m (based on a geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions). All drill holes were collared at a steep inclination, then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional drilling technology.  The results below highlight intersections through each of the A2 and A3 High Grade Domains, respectively. 

A2 High-Grade Domain Highlights

  • AR-19-265c2 intersected 53.5 m of total composite mineralization including 9.80 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 109.0 m section (497.5 to 605.5 m). Additionally, of the 9.80 m of off-scale mineralization intersected in the hole 2.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-259c1 intersected 26.5 m of total composite mineralization including 8.40 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 96.0 m section (549.0 to 645.0 m). Additionally, of the 8.40 m of off-scale mineralization intersected in the hole 1.00 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-253c1 intersected 41.0 m of total composite mineralization including 5.20 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 80.0 m section (632.0 to 712.0 m);
  • AR-19-262c1 intersected 37.5 m of total composite mineralization including 5.30 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (529.0 to 617.0 m).

A3 High-Grade Domain Highlights

  • AR-19-256c1 intersected 38.5 m of total composite mineralization including 8.10 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 96.0 m section (437.0 to 533.0 m). Additionally, of the 8.10 m of off-scale mineralization intersected in the hole 1.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-258c2 intersected 42.0 m of total composite mineralization including 10.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (413.5 to 501.5 m);
  • AR-19-263c3 intersected 46.5 m of total composite mineralization including 7.20 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 85.0 m section (584.0 to 669.0 m).

Drill hole locations are shown in Figure 1, full drilling results can be found in Table 1. Drill hole descriptions can be found at www.nexgenenergy.ca

Phase I: Testing Geotechnical and Hydrogeological Conditions within the proposed mine plan and Underground Tailings Management Facility ("UGTMF")

An additional 14 holes totaling 6,314.4 m were completed designed to geotechnically and hydrogeologically characterize the rock mass within areas of the proposed mine plan and the UGTMF. The preliminary field analysis indicated robust rock mass conditions in all areas. A report detailing the geotechnical results is being prepared by North Rock Mining Solutions Inc. In addition, the hydrogeological data acquired from these holes is being incorporated into the hydrogeological model which will characterize the favourable hydrogeological conditions at Arrow, inclusive of the proposed UGTMF area. Both reports will be incorporated into to the Feasibility Study and Environmental Assessment for the Arrow Deposit.

Development, Activities & Financial

  • Phase I results are all pending final assays and will be released as received and finalized. The commencement of Phase II is pending final compilation and analysis of all Phase I drilling results. All programs for the Feasibility Study (H1 2020) and Environmental Assessment (H2 2020) are ongoing and on schedule.
  • NexGen commenced an Environmental Assessment on the Rook I Project on April 29, 2019 in accordance with the requirements of both the Environmental Assessment Act and the Canadian Environmental Assessment Act, 2012 ("CEAA 2012") after receiving acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission ("CNSC") and the Saskatchewan Ministry of Environment ("SMOE"). In addition, NexGen filed an Initial Licence Application with the CNSC under the Nuclear Safety and Control Act in order to obtain a Licence to Prepare Site and Construct for the Project.
  • NexGen welcomes the conclusion of the  section 232 investigation as reported on July 12, 2019 by Presidential Memoranda by which the President of the United States determined that he did not believe uranium imports threaten to impair the national security of the United States.  With the conclusion in hand and support for the entire nuclear energy sector in the United States, many industry observers have reported market activity and utility demand interest has already increased since mid-July for spot and mid-term delivery.
  • As of July 31, 2019, the Company had cash-on-hand of approximately $80 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: "The dual purpose 2019 Phase I drilling has produced another batch of exceptional radio activity results highlighting Arrow's unique high grade continuity throughout the ore body, and from a development perspective, highly favourable ground conditions for the proposed mine plan and UGTMF. I would like to take the opportunity to congratulate the NexGen team on the speed, accuracy, efficiency and elite standards in executing Phase I ground work whilst in tandem successfully advancing permitting and community objectives. It's an exciting time at NexGen and the dedication of the team inclusive of our valued service providers, community members and government is outstanding."

Troy Boisjoli, Vice-President, Operations and Project Development, commented: "Today's release represents a great milestone for the Project as this last batch of Phase I holes continues to show the clear continuity of high-grade mineralization across the A2 and A3 shears. These radioactivity results are particularly impressive considering the advanced shallow angle of interception into the sub-vertical Arrow orebody that AziDrill has been able to deliver over prior drill programs at Arrow. In addition, the preliminary geotechnical and hydrogeological field results indicating highly competent ground conditions for sound extraction is excellent. The strength of the Arrow resource and proposed mine plan has been further validated with the completion of the 2019 Phase 1 drill program. We look forward to incorporating all these results into an updated mineral resource, Feasibility Study and Environmental Assessment for submission."

Figure 1: Arrow Deposit Drill Hole LocationsFigure 1: Arrow Deposit Drill Hole Locations

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca Group -
Basement Unconformity
Depth (m)

Handheld Scintillometer Results
(RS-120/125)

Hole ID

Azimuth

Dip

Total
Depth (m)

From
(m)

To (m)

Width
(m)

CPS Range

AR-19-251c1

327

-65

577.50

141.25

480.00

481.00

1.00

<500 -  5000

         

503.00

506.50

3.50

<500 -  14500

         

520.00

521.00

1.00

<500 -  61000

         

523.50

524.50

1.00

<500 -  3000

         

531.00

532.50

1.50

4000 -  61000

         

537.00

539.00

2.00

<500 -  1700

         

543.00

545.00

2.00

<500 -  1800

         

556.50

557.00

0.50

<500 -  590

AR-19-251c2

327

-65

666.50

N/A

424.50

425.00

0.50

<500 -  1400

         

463.00

465.00

2.00

<500 -  15000

         

470.00

483.50

13.50

<500 -  33000

         

486.00

501.00

15.00

<500 -  61000

         

512.00

514.00

2.00

<500 -  1200

         

581.50

594.00

12.50

<500 -  61000

         

597.50

600.00

2.50

<500 -  750

         

608.00

609.00

1.00

<500 -  1000

         

611.50

612.50

1.00

<500 -  3400

         

623.00

627.50

4.50

<500 -  12100

         

646.00

647.50

1.50

<500 -  2400

AR-19-252c1

327

-65

756.50

129.40

483.50

484.00

0.50

<500 -  2350

         

502.50

503.00

0.50

<500 -  15200

         

507.00

508.00

1.00

<500 -  2350

         

513.50

515.00

1.50

<500 -  1250

         

559.00

560.00

1.00

600 -  47600

         

564.50

565.00

0.50

<500 -  2200

         

574.00

577.50

3.50

<500 -  49000

         

580.50

587.50

7.00

<500 -  52800

         

600.00

600.50

0.50

<500 -  6800

         

610.50

620.50

10.00

<500 -  61000

         

633.00

635.00

2.00

<500 -  4400

         

642.00

648.50

6.50

<500 -  2400

         

652.50

653.00

0.50

520 -  860

         

661.50

662.00

0.50

<500 -  3400

         

664.50

665.00

0.50

<500 -  950

         

667.50

679.00

11.50

<500 -  61000

         

685.50

695.50

10.00

<500 -  10500

         

699.00

699.50

0.50

<500 -  1500

         

703.50

705.50

2.00

<500 -  3700

         

721.50

724.50

3.00

<500 -  14000

AR-19-252c2

327

-65

801.50

N/A

487.50

489.00

1.50

<500 -  1500

         

509.50

511.50

2.00

<500 -  8400

         

543.00

543.50

0.50

<500 -  510

         

546.00

547.00

1.00

<500 -  4140

         

559.00

559.50

0.50

<500 -  1400

         

576.50

584.00

7.50

<500 -  20500

         

589.50

592.50

3.00

<500 -  45000

         

595.50

604.00

8.50

<500 -  61000

         

606.50

611.00

4.50

<500 -  19000

         

620.00

628.00

8.00

<500 -  44000

         

634.00

634.50

0.50

<500 -  540

         

637.50

650.50

13.00

<500 -  3400

         

656.00

657.00

1.00

<500 -  2100

         

661.00

669.00

8.00

<500 -  2000

         

676.00

703.00

27.00

<500 -  61000

         

723.50

729.50

6.00

<500 -  27000

         

738.00

738.50

0.50

<500 -  580

         

745.00

746.00

1.00

<500 -  7200

         

755.50

757.00

1.50

<500 -  12600

         

777.50

779.50

2.00

<500 -  13000

AR-19-252c3

327

-65

804.50

N/A

496.50

497.00

0.50

<500 -  850

         

515.50

521.50

6.00

<500 -  6800

         

528.00

530.00

2.00

<500 -  9000

         

551.00

555.00

4.00

<500 -  12700

         

567.50

568.00

0.50

<500 -  760

         

580.50

581.50

1.00

<500 -  750

         

590.50

593.50

3.00

<500 -  45000

         

606.00

607.00

1.00

<500 -  61000

         

612.50

621.00

8.50

<500 -  61000

         

623.50

646.00

22.50

<500 -  61000

         

649.50

657.00

7.50

<500 -  3800

         

663.50

671.00

7.50

<500 -  3050

         

674.00

681.00

7.00

<500 -  1500

         

684.00

700.00

16.00

<500 -  61000

         

702.50

704.00

1.50

<500 -  660

         

706.50

711.50

5.00

<500 -  18100

         

718.50

729.50

11.00

<500 -  61000

         

738.00

739.00

1.00

1200 -  47900

         

750.00

755.00

5.00

<500 -  11600

         

774.00

776.00

2.00

<500 -  9600

         

783.50

784.50

1.00

<500 -  61000

AR-19-253c1

327

-65

712.00

125.45

442.50

443.50

1.00

<500 -  2650

         

528.00

528.50

0.50

<500 -  1100

         

537.00

540.50

3.50

<500 -  1800

         

558.50

560.00

1.50

<500 -  15500

         

568.00

573.00

5.00

<500 -  650

         

580.00

584.00

4.00

<500 -  4000

         

587.50

589.50

2.00

<500 -  2200

         

594.50

595.00

0.50

<500 -  910

         

623.50

624.00

0.50

<500 -  730

         

639.50

672.00

32.50

<500 -  61000

         

681.00

683.00

2.00

<500 -  15000

         

690.00

696.00

6.00

<500 -  52800

AR-19-253c2

327

-65

744.50

N/A

442.00

442.50

0.50

<500 -  720

         

506.00

507.50

1.50

<500 -  12000

         

538.50

541.50

3.00

<500 -  1900

         

547.00

548.00

1.00

<500 -  840

         

552.50

558.50

6.00

<500 -  2500

         

568.50

569.00

0.50

660 -  3150

         

583.50

585.00

1.50

<500 -  1050

         

591.50

592.00

0.50

<500 -  1580

         

606.00

609.00

3.00

<500 -  820

         

635.50

640.50

5.00

<500 -  2500

         

651.00

685.00

34.00

<500 -  61000

         

687.50

688.50

1.00

<500 -  6640

         

692.50

701.00

8.50

<500 -  13200

         

706.50

709.50

3.00

<500 -  3350

         

742.00

742.50

0.50

<500 -  1000

AR-19-254c1

327

-65

684.50

133.10

479.00

480.00

1.00

<500 -  5600

         

522.00

522.50

0.50

<500 -  550

         

527.50

528.00

0.50

<500 -  790

         

533.50

534.00

0.50

<500 -  620

         

616.50

625.00

8.50

<500 -  6500

         

631.50

641.00

9.50

<500 -  10200

         

649.00

651.50

2.50

<500 -  15000

         

657.00

663.00

6.00

<500 -  12000

AR-19-254c2

327

-65

699.50

N/A

468.50

469.00

0.50

<500 -  550

         

471.50

472.00

0.50

<500 -  900

         

483.50

484.00

0.50

700 -  13100

         

514.50

515.00

0.50

<500 -  1100

         

528.00

529.50

1.50

<500 -  25000

         

533.00

534.50

1.50

<500 -  25000

         

538.50

539.50

1.00

<500 -  29100

         

542.50

550.50

8.00

<500 -  2800

         

609.50

610.00

0.50

<500 -  580

         

622.00

623.50

1.50

<500 -  3300

         

628.00

658.00

30.00

<500 -  24000

         

665.50

670.00

4.50

<500 -  61000

AR-19-255c1

327

-65

609.50

122.40

505.00

506.00

1.00

<500 -  1580

         

510.50

513.00

2.50

<500 -  1700

         

520.00

523.50

3.50

<500 -  1400

         

545.50

565.00

19.50

<500 -  61000

         

568.50

569.00

0.50

670 -  2000

         

588.00

589.00

1.00

<500 -  5600

AR-19-255c2

327

-65

609.50

N/A

523.00

523.50

0.50

<500 -  7500

         

526.00

532.50

6.50

<500 -  4400

         

551.00

561.50

10.50

<500 -  61000

         

565.00

568.00

3.00

<500 -  910

         

579.00

579.50

0.50

<500 -  750

         

582.00

587.50

5.50

<500 -  4000

AR-19-255c3

327

-65

626.00

N/A

436.50

437.00

0.50

<500 -  2600

         

454.00

454.50

0.50

850 -  1300

         

504.00

507.50

3.50

<500 -  700

         

510.50

511.50

1.00

<500 -  2600

         

514.00

520.50

6.50

<500 -  2600

         

528.00

530.00

2.00

<500 -  5700

         

533.50

535.50

2.00

<500 -  3960

         

538.50

539.50

1.00

<500 -  4300

         

549.00

550.00

1.00

<500 -  2400

         

567.50

584.50

17.00

<500 -  61000

         

587.50

589.50

2.00

<500 -  2100

         

603.00

603.50

0.50

570 -  1240

         

606.00

606.50

0.50

<500 -  500

AR-19-256c1

327

-65

537.00

141.00

453.50

456.50

3.00

<500 -  23000

         

467.00

467.50

0.50

800 -  27000

         

471.50

472.50

1.00

<500 -  15200

         

478.00

512.00

34.00

<500 -  61000

AR-19-256c2

327

-65

552.50

N/A

457.50

458.50

1.00

<500 -  5850

         

463.00

467.50

4.50

<500 -  6300

         

470.00

470.50

0.50

<500 -  1500

         

474.00

476.00

2.00

<500 -  4000

         

480.00

481.00

1.00

750 -  13000

         

484.50

485.00

0.50

<500 -  720

         

488.00

489.00

1.00

<500 -  1400

         

492.00

516.50

24.50

<500 -  61000

AR-19-256c3

327

-65

705.20

N/A

461.50

462.00

0.50

<500 -  1600

         

469.00

471.50

2.50

<500 -  990

         

479.00

481.00

2.00

<500 -  7400

         

483.50

484.00

0.50

<500 -  550

         

487.00

487.50

0.50

<500 -  21000

         

491.00

491.50

0.50

3400 -  61000

         

501.00

505.50

4.50

<500 -  61000

         

512.00

513.50

1.50

<500 -  6000

         

516.50

527.00

10.50

<500 -  26900

         

543.50

544.00

0.50

<500 -  530

         

547.50

550.50

3.00

<500 -  640

         

655.50

660.50

5.00

<500 -  2500

         

674.50

678.00

3.50

<500 -  1980

         

698.00

698.50

0.50

<500 -  800

AR-19-257c1

327

-65

651.50

120.50

480.00

481.50

1.50

<500 -  7850

         

524.00

524.50

0.50

<500 -  1060

         

536.00

538.00

2.00

<500 -  1750

         

553.00

554.00

1.00

<500 -  790

         

561.50

563.00

1.50

<500 -  8800

         

570.00

571.00

1.00

<500 -  12500

         

586.00

594.50

8.50

<500 -  30000

         

601.50

602.50

1.00

<500 -  22000

         

614.50

617.00

2.50

<500 -  1800

         

622.50

631.50

9.00

<500 -  7200

AR-19-257c2

327

-65

666.50

N/A

526.00

527.50

1.50

<500 -  4100

         

549.00

550.00

1.00

<500 -  5800

         

560.00

564.50

4.50

<500 -  1700

         

582.00

582.50

0.50

<500 -  880

         

598.00

600.00

2.00

<500 -  15000

         

611.00

612.50

1.50

<500 -  61000

         

637.00

641.50

4.50

<500 -  3550

AR-19-257c3

327

-65

654.50

N/A

482.50

483.00

0.50

<500 -  1100

         

487.00

487.50

0.50

<500 -  1300

         

491.00

491.50

0.50

<500 -  1000

         

517.50

518.50

1.00

<500 -  6900

         

526.00

527.00

1.00

<500 -  8900

         

539.50

542.50

3.00

<500 -  2300

         

546.50

547.50

1.00

<500 -  1250

         

555.50

557.00

1.50

<500 -  26000

         

568.50

571.00

2.50

<500 -  1000

         

584.00

585.00

1.00

<500 -  600

         

587.50

597.00

9.50

<500 -  61000

         

600.00

600.50

0.50

<500 -  2500

         

606.00

612.00

6.00

<500 -  61000

         

614.50

621.00

6.50

<500 -  36500

         

624.50

630.50

6.00

<500 -  1200

AR-19-257c4

327

-65

666.50

N/A

485.00

485.50

0.50

<500 -  970

         

490.00

491.50

1.50

<500 -  1300

         

517.00

528.00

11.00

<500 -  4900

         

559.50

560.50

1.00

<500 -  3500

         

564.50

565.00

0.50

<500 -  1900

         

570.00

571.00

1.00

<500 -  1800

         

573.50

574.00

0.50

<500 -  2100

         

598.00

598.50

0.50

3700 -  30400

         

606.00

606.50

0.50

<500 -  1000

         

610.00

610.50

0.50

<500 -  1900

         

621.00

630.50

9.50

<500 -  14000

         

637.00

644.00

7.00

<500 -  2900

AR-19-258c1

327

-65

495.50

138.05

418.00

419.00

1.00

<500 -  11200

         

436.00

447.50

11.50

<500 -  48300

         

452.50

462.00

9.50

<500 -  61000

         

466.50

470.50

4.00

<500 -  1900

         

476.50

481.50

5.00

<500 -  3100

         

484.00

487.50

3.50

<500 -  2200

         

493.50

495.50

2.00

<500 -  1200

AR-19-258c2

327

-65

501.50

N/A

413.50

414.00

0.50

550 -  6700

         

419.00

419.50

0.50

<500 -  870

         

427.00

428.00

1.00

1350 -  38700

         

446.50

480.50

34.00

<500 -  61000

         

485.00

489.50

4.50

<500 -  1500

         

494.50

496.00

1.50

<500 -  560

         

501.00

501.00

0.00

<500 -  710

AR-19-259c1

327

-65

651.50

127.95

456.00

457.00

1.00

<500 -  970

         

460.50

461.00

0.50

<500 -  1050

         

483.00

490.00

7.00

<500 -  4900

         

508.50

509.00

0.50

<500 -  820

         

583.50

596.00

12.50

<500 -  61000

         

598.50

607.00

8.50

<500 -  61000

         

613.00

613.50

0.50

<500 -  580

         

616.50

621.50

5.00

<500 -  25700

AR-19-259c2

327

-65

666.50

N/A

462.50

463.00

0.50

<500 -  880

         

493.00

494.00

1.00

<500 -  32600

         

502.50

503.50

1.00

<500 -  900

         

508.00

508.50

0.50

<500 -  3600

         

524.00

525.00

1.00

<500 -  900

         

565.00

566.00

1.00

<500 -  600

         

596.50

604.00

7.50

<500 -  61000

         

607.50

609.00

1.50

<500 -  11200

         

614.50

619.50

5.00

<500 -  3500

         

628.00

628.50

0.50

<500 -  630

         

631.00

634.50

3.50

<500 -  12400

         

637.50

638.50

1.00

<500 -  1300

AR-19-260c1

327

-65

600.50

126.00

436.50

437.00

0.50

<500 -  1900

         

454.00

454.50

0.50

<500 -  610

         

470.00

470.50

0.50

<500 -  530

         

476.50

477.50

1.00

<500 -  6000

         

481.00

481.50

0.50

<500 -  820

         

493.50

495.50

2.00

<500 -  1300

         

500.00

503.00

3.00

<500 -  2300

         

507.50

508.00

0.50

<500 -  620

         

527.50

548.50

21.00

<500 -  43000

AR-19-260c2

327

-65

597.50

N/A

475.00

476.00

1.00

<500 -  1100

         

483.00

484.00

1.00

<500 -  2100

         

490.50

491.50

1.00

<500 -  530

         

494.00

494.50

0.50

<500 -  540

         

498.00

498.50

0.50

<500 -  780

         

502.00

504.50

2.50

<500 -  1700

         

515.50

516.00

0.50

<500 -  510

         

521.00

544.00

23.00

<500 -  61000

AR-19-261c1

327

-65

765.50

120.80

195.50

196.00

0.50

<500 -  670

         

541.50

542.50

1.00

<500 -  9500

         

553.50

559.00

5.50

<500 -  14500

         

563.00

564.00

1.00

<500 -  11000

         

567.00

568.00

1.00

<500 -  1000

         

575.00

575.50

0.50

2000 -  50000

         

578.50

579.50

1.00

<500 -  61000

         

594.50

595.00

0.50

<500 -  700

         

608.00

616.00

8.00

<500 -  4100

         

621.50

623.50

2.00

<500 -  1900

         

627.50

628.50

1.00

<500 -  1600

         

631.50

634.50

3.00

<500 -  1800

         

658.00

662.50

4.50

<500 -  2400

         

671.50

689.00

17.50

<500 -  61000

         

695.00

716.00

21.00

<500 -  4700

         

721.00

722.50

1.50

<500 -  1100

AR-19-261c2

327

-65

774.50

N/A

497.50

499.00

1.50

<500 -  1300

         

520.50

521.00

0.50

<500 -  2400

         

553.00

554.50

1.50

<500 -  4100

         

566.00

568.50

2.50

<500 -  5900

         

571.00

576.50

5.50

<500 -  41000

         

589.50

592.50

3.00

<500 -  45100

         

612.50

615.00

2.50

<500 -  1100

         

626.50

628.00

1.50

<500 -  1800

         

635.50

638.00

2.50

<500 -  1600

         

652.50

653.00

0.50

<500 -  520

         

666.50

667.50

1.00

<500 -  850

         

671.50

687.50

16.00

<500 -  61000

         

695.00

695.50

0.50

<500 -  2080

         

698.00

699.00

1.00

<500 -  750

AR-19-262c1

327

-65

636.50

125.00

484.50

485.00

0.50

<500 -  660

         

492.00

492.50

0.50

<500 -  800

         

503.00

506.50

3.50

<500 -  2700

         

516.00

521.50

5.50

<500 -  1800

         

560.50

573.50

13.00

<500 -  61000

         

576.50

577.00

0.50

<500 -  610

         

585.00

593.50

8.50

<500 -  3800

         

596.00

599.50

3.50

<500 -  2150

         

602.00

604.50

2.50

<500 -  990

         

607.50

617.00

9.50

<500 -  61000

AR-19-262c2

327

-65

648.50

N/A

494.50

497.00

2.50

<500 -  4200

         

506.00

509.50

3.50

<500 -  1750

         

517.00

518.00

1.00

<500 -  850

         

520.50

521.00

0.50

<500 -  650

         

526.00

527.00

1.00

<500 -  920

         

537.00

537.50

0.50

<500 -  650

         

558.50

559.00

0.50

<500 -  1100

         

568.50

576.50

8.00

<500 -  61000

         

580.50

583.00

2.50

<500 -  6600

         

592.00

594.00

2.00

<500 -  1500

         

600.50

620.00

19.50

<500 -  12500

         

626.50

628.00

1.50

<500 -  900

AR-19-262c3

327

-65

654.50

N/A

492.50

493.50

1.00

<500 -  2200

         

496.00

497.00

1.00

<500 -  1450

         

502.00

502.50

0.50

<500 -  560

         

505.50

507.50

2.00

<500 -  1200

         

532.50

533.50

1.00

<500 -  3300

         

555.50

556.50

1.00

<500 -  1100

         

577.50

597.00

19.50

<500 -  61000

         

601.00

601.50

0.50

<500 -  1050

         

605.50

608.00

2.50

<500 -  820

         

614.50

615.00

0.50

<500 -  540

         

617.50

627.00

9.50

<500 -  17200

         

634.50

637.00

2.50

<500 -  2400

         

640.00

642.50

2.50

<500 -  730

AR-19-263c1

325

-65

662.00

136.30

539.00

546.00

7.00

<500 -  19000

         

557.50

558.00

0.50

<500 -  1700

         

566.50

568.50

2.00

<500 -  8500

         

575.50

590.00

14.50

<500 -  27000

         

594.50

595.50

1.00

<500 -  15000

         

598.50

602.00

3.50

<500 -  25000

         

605.00

611.50

6.50

<500 -  61000

         

614.50

638.50

24.00

<500 -  61000

         

641.00

644.00

3.00

<500 -  1200

AR-19-263c2

325

-65

666.50

N/A

540.00

545.00

5.00

<500 -  32000

         

560.00

582.50

22.50

<500 -  61000

         

590.50

592.50

2.00

<500 -  9800

         

605.00

611.00

6.00

<500 -  2800

         

619.00

627.50

8.50

<500 -  61000

         

634.00

636.50

2.50

<500 -  1100

         

640.50

641.00

0.50

<500 -  530

         

644.50

645.50

1.00

<500 -  1000

AR-19-263c3

325

-65

669.50

N/A

535.00

536.00

1.00

<500 -  700

         

547.00

550.50

3.50

<500 -  47000

         

567.50

568.50

1.00

<500 -  2450

         

573.00

573.50

0.50

<500 -  1120

         

581.50

584.00

2.50

<500 -  2600

         

589.00

594.50

5.50

<500 -  8800

         

597.00

598.50

1.50

<500 -  6300

         

601.50

604.50

3.00

<500 -  12000

         

614.00

619.50

5.50

<500 -  61000

         

622.00

626.00

4.00

<500 -  61000

         

631.00

654.00

23.00

<500 -  61000

         

656.50

660.50

4.00

<500 -  2150

AR-19-264c1

327

-65

759.50

124.85

503.00

503.50

0.50

<500 -  540

         

532.00

534.00

2.00

<500 -  5000

         

541.00

541.50

0.50

500 -  6300

         

564.50

565.00

0.50

<500 -  720

         

572.00

572.50

0.50

<500 -  1900

         

580.50

581.50

1.00

<500 -  2600

         

591.50

596.00

4.50

<500 -  8200

         

598.50

599.00

0.50

<500 -  510

         

606.00

606.50

0.50

<500 -  580

         

610.00

610.50

0.50

<500 -  500

         

621.00

622.00

1.00

<500 -  2200

         

641.50

645.50

4.00

<500 -  2100

         

657.00

658.00

1.00

<500 -  610

         

663.50

664.50

1.00

<500 -  5600

         

669.00

681.00

12.00

<500 -  61000

         

686.50

690.50

4.00

<500 -  11000

         

694.00

707.00

13.00

<500 -  6600

         

711.00

730.50

19.50

<500 -  61000

         

757.00

757.50

0.50

<500 -  3500

AR-19-264c2

327

-65

789.50

N/A

535.50

536.00

0.50

2500 -  39000

         

580.00

581.00

1.00

<500 -  680

         

585.50

587.50

2.00

<500 -  2800

         

593.00

595.50

2.50

<500 -  2100

         

600.50

604.50

4.00

<500 -  61000

         

615.50

616.00

0.50

<500 -  790

         

623.00

630.50

7.50

<500 -  1780

         

638.00

638.50

0.50

<500 -  620

         

646.00

647.50

1.50

<500 -  1100

         

652.00

652.50

0.50

<500 -  2000

         

667.50

668.50

1.00

<500 -  1100

         

677.00

696.00

19.00

<500 -  61000

         

701.00

714.00

13.00

<500 -  61000

         

717.00

728.50

11.50

<500 -  61000

         

731.00

735.00

4.00

<500 -  6000

         

742.00

746.50

4.50

<500 -  4500

         

749.00

749.50

0.50

<500 -  2100

         

753.50

755.00

1.50

<500 -  1270

         

775.00

776.50

1.50

<500 -  5400

AR-19-265c1

327

-65

615.50

125.20

456.00

458.00

2.00

<500 -  1500

         

479.00

480.50

1.50

<500 -  1700

         

484.50

486.00

1.50

<500 -  3300

         

490.00

492.50

2.50

<500 -  850

         

500.00

503.00

3.00

<500 -  2700

         

510.00

511.50

1.50

<500 -  1020

         

515.00

516.50

1.50

<500 -  1100

         

529.50

556.50

27.00

<500 -  61000

         

560.50

569.00

8.50

<500 -  8700

         

571.50

579.50

8.00

<500 -  4150

         

591.50

592.50

1.00

560 -  7100

AR-19-265c2

327

-65

627.50

N/A

445.00

445.50

0.50

<500 -  1050

         

475.50

484.00

8.50

<500 -  2630

         

497.50

498.50

1.00

<500 -  750

         

501.00

501.50

0.50

<500 -  550

         

508.50

509.00

0.50

<500 -  580

         

516.00

516.50

0.50

<500 -  930

         

522.50

523.00

0.50

<500 -  530

         

532.00

532.50

0.50

<500 -  1200

         

535.50

570.50

35.00

<500 -  61000

         

573.50

577.00

3.50

<500 -  4500

         

588.00

590.00

2.00

<500 -  1800

         

594.00

597.50

3.50

<500 -  4200

         

600.50

606.50

6.00

<500 -  26100

Parameters:

• 

Maximum internal dilution 2.00 m downhole

• 

All depths and intervals are metres downhole, true thicknesses are yet to be determined

• 

"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

• 

Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip

• 

If a drill hole deviates from a target a section of the drill hole may need to be re-drilled - this can potentially cause small discrepancies (in metres) between the reported total length of a drill hole (depth at end of hole minus the starting depth) and the actual number of metres drilled for a given drill hole.

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 Deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC's 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O'Hara, P.Eng. of Wood., David Robson, P.Eng., M.B.A., and Jason Cox, P.Eng. of RPA, each of whom is a "qualified person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI-43-101"). 

The Mineral Resource Estimate was completed by Mr. Mark Mathisen, C.P.G., Senior Geologist at RPA and Mr. David Ross, P.Geo., Director of Resource Estimation and Principal Geologist at RPA.  Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen.  Mr. Boisjoli is a qualified person for the purposes of 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.  All other technical information in this news release has been approved by Mr. James Hatley, a Professional Engineer, Senior Vice-President – Project Development for NexGen.  Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.

A technical report in respect to the PFS 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).

SEC Standards

Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as "reserves" under SEC standards. In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty 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 securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of "contained pounds" in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Technical Information

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 "Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study" dated effective 5 November, 2018 (the "Rook 1 Technical Report") prepared by Paul O'Hara, P.Eng., Jason J. Cox, P.Eng., David M. Robson, P.Eng., M.B.A., Mark B. Mathisen, C.P.G. 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 and EDGAR (www.sec.gov/edgar.shtml) providing 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 and is available on NexGen Energy's website (www.nexgenenergy.ca).

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 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 the activities, events or developments that the Company expects or anticipates will or may occur in the future. 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.

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 proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price 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.

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, 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, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, 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 licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company's Annual Information Form dated March 4, 2019 under "Risk Factors".

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 implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

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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NexGen Energy

Last Trade: C$1.66
Daily Change: 0.02 1.22
Daily Volume: 249,104
Market Cap: C$588.170M
NexGen Demonstrating Continuity of Grade and Thickness at Arrow
NexGen Signs Four Study Agreements With Local Communities
NexGen Announces Resignation of Chief Financial Officer
NexGen Releases Second Batch of Assay Results from the 2019 Feasibility Stage Drilling Program, Intersects High-Grade Uranium in All A2 and A3 High-Grade Domain Targets
NexGen Releases First Assays from Recently Completed Arrow Drilling Program Including 12.0 m at 33.78% U3O8 and 8.0 m at 32.88% U3O8
NexGen Energy Commences Maiden Exploration Drilling on Prospective SW1 Property
NexGen Energy Continues to Intersect High-Grade Mineralization in all A2 and A3 Targets Highlighting Strength of Continuity at Arrow
NexGen Energy Announces Election of Directors and Voting Results from Annual Meeting of Shareholders
NexGen Energy Intersects High-Grade Mineralization in all Twenty A2 and A3 Targets from the 2019 Feasibility Stage Drilling Program
NexGen Energy Announces the Commencement of an Environmental Assessment for the Rook I Project
NexGen Energy Intersects Continuous and Strong High-Grade Mineralization in all of the Initial A2 Sub-Zone Targets from Feasibility Stage Drilling
NexGen Energy Announces Appointment of Brad Wall, the Former Premier of Saskatchewan, to its Board of Directors

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