VANCOUVER, BC, July 15,
2022 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE)
(ASX: NXG) is pleased to announce that on
July 12, 2022, the Canadian Nuclear
Safety Commission ("CNSC") announced their acceptance of the draft
Environmental Impact Statement (the "EIS") which the Company
completed submission of in June 2022
(see News Release dated June 21,
2022). The acceptance of the draft EIS for NexGen's 100%
owned Rook I Project ("Rook I" or the "Project") located in
Saskatchewan's southwestern
Athabasca Basin follows a 30-day
period during which the CNSC conducted a conformance review of the
draft EIS submission and confirmed no comments or conditions.
Further, the acceptance marks the formal commencement of the 90-day
period during which the CNSC will coordinate both the Federal
technical and public review of the draft EIS.
Leigh Curyer, Chief Executive Officer
commented: "The CNSC's acceptance of the Rook I
Project's draft EIS is a significant step, transitioning the
Project into the Federal EIS technical and public review phase,
incorporating rigorous and transparent Provincial and Federal EA
review processes. NexGen's approach to all aspects of the EIS
compilation and completion with respect to inclusive Indigenous and
community engagement, incorporating elite environmental mine
designs and its transparent engagement with regulators and
governments is a credit to the team and community stakeholders. On
behalf of everyone at NexGen, I would like to thank all of our
valued stakeholders for their commitment and dedication to this
multi-generational Rook I Project.
The magnitude of generational positive impact benefits to
materialize with the safe advancement of this project, starting
with local communities and concluding with the avenue to return
Canada to leading the world in the
provision of clean air energy fuel, has no peer."
The EIS represents the collection of reports that document
NexGen's environmental assessment ("EA") of the Project.
NexGen conducted the EA pursuant to The Environmental
Assessment Act of Saskatchewan
and the Canadian Environmental Assessment Act, 2012.
The information and analysis conducted and submitted in the
EIS represent the basis against which the environmental, social,
and human health effects of the Project will be evaluated by the
Saskatchewan Ministry of Environment ("ENV") and the CNSC. In
parallel to the CNSC-led federal review, the ENV is currently
coordinating a technical review of the draft EIS, which is
scheduled to conclude in Q3 2022.
The EIS and the EIS Master Executive Summary can both be
found at www.saskatchewanuranium.ca
or www.nexgenenergy.ca.
About
NexGen
NexGen is a British Columbia corporation focused on
the development of the Rook I Project located in the
southwestern Athabasca Basin, Saskatchewan,
Canada, into production. The Rook I Project is supported by a
NI 43-101 compliant Feasibility Study which outlines elite
environmental performance as well as industry leading economics.
Rook I hosts the Arrow Deposit that hosts Measured Mineral
Resources of 209.6 M lbs of
U3O8 contained in 2.18
M tonnes grading 4.35% U3O8, Indicated
Mineral Resources of 47.1 M lbs of
U3O8 contained in 1.57
M tonnes grading 1.36% U3O8, and
Inferred Mineral Resources of 80.7 M lbs of
U3O8 contained in 4.40
M tonnes grading 0.83%
U3O8.
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. The Company is the recipient of the 2018 PDAC
Bill Dennis Award for Canadian mineral discovery and the 2019 PDAC
Environmental and Social Responsibility Award.
Technical
Disclosure
All technical information in this news release has been
reviewed and approved by Jason Craven , P.Geo, NexGen's
Manager, Exploration, a qualified person under National Instrument
43-101.
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
February 25, 2022 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.