VANCOUVER, Oct. 9, 2019 /CNW/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSX: NXE, NYSE MKT: NXE) is
pleased to report the first batch of assay results for twenty holes
from the Company's recently completed Phase I Feasibility-stage
drilling program at the 100% owned, Rook I Project in the
Athabasca Basin, Saskatchewan.
The 2019 Arrow drilling program targeted the A2 and A3
High-Grade Domains to deliver an optimization of the mine plan at a
drill hole spacing of between 9 m and
17 m (based on a geostatistical data
spacing report compiled by Clayton V.
Deutsch from Resource Modeling Solutions). The holes are
designed to in-fill the A2 high-grade domain and elevate the
resource from indicated to measured. 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 the A2 High-Grade Domains only, for complete
hole results please see results Table 1.
A2 High-Grade Domain Highlights
- AR-19-225c1 intersected 36.0
m at 11.36% U3O8 (564.0 to
600.0 m) including 12.0 m at 33.78% U3O8
(570.0 to 582.0 m). The target was
intersected at a dip of -56.4° approximately 7.0 m up-dip from AR-16-063c3 (15.0 m at 8.28% U3O8 and an
additional 119 m at 2.3%
U3O8);
- AR-19-221c1 intersected 26.0
m at 10.39% U3O8 (523.5 to
549.5 m) including 8.0 m at 32.88% U3O8
(527.5 to 535.5 m). The target was
intersected at a dip of -57° approximately 9.0 m along strike to the northeast of
AR-16-111c1 (60.0 m at 4.70%
U3O8 including 17.0
m at 15.79% U3O8);
- AR-19-224c1 intersected 21.0
m at 15.36% U3O8 (554.5 to
575.5 m) including 14.0 m at 22.69% U3O8
(554.5 to 568.5 m).. The target was
intersected at a dip of -58.7° approximately 13.0 m up-dip from AR-16-064c1 (48.5 m at 6.97% U3O8);
- AR-19-222c1 intersected 58.0
m at 4.12% U3O8 (493.5 to
551.5 m) including 13.0 m at 17.14% U3O8
(528.5 to 541.5 m). The target was
intersected at a dip of -58.7° approximately 9.0 m up-dip from AR-16-091c2 (40.5 m at 12.69% U3O8
including 25.0 m at 19.97%
U3O8);
- AR-19-227c2 intersected 49.0
m at 2.93% U3O8 (460.0 to
509.0 m) including 3.0 m at 22.66% U3O8
(504.0 to 507.0 m). The target was
intersected at a dip of -59.2° approximately 13.0 m down-dip from AR-19-227c1 (44.0 m at 1.73% U3O8
including 7.0 m at 9.69%
U3O8).
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
Development, Activities & Financial
- Expediting Arrow to Feasibility focusing on mine optimization
plans based on Measured and Indicated mineral resources.
- 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.
- As of September 30, 2019, the
Company had cash-on-hand of approximately $75 million which fully funds NexGen for all
drilling, feasibility and development programs planned this
year.
- Recently completed winter 2019 Arrow drilling program was
comprised of 131 holes totaling 57,282.4
m of which 117 drill holes, totaling 50,968 m. Fourteen drill holes totaling
6,314.4 m were primarily designed to
test the geotechnical and hydrogeological characteristics of the
rock mass in areas of proposed mine workings and UGTMF – these
holes are still pending release.
Leigh Curyer, Chief Executive Officer, commented: "Today's assay
results from Arrow once again highlight the continuity of
high-grade intersections. The regular and uniform return of broad
high grade intercepts is unique especially when considering the
basement hosted and land-based technical setting of the project.
There are over 100 more assays pending to be released in the coming
months to be incorporated into the Feasibility Study scheduled for
H1 2020. In parallel, the team is working on all aspects of the
Environmental Assessment with studies scheduled for completion in
H2 2020. As recently reported by uranium industry observers, the
uranium market dynamics have improved significantly and are
forecast to improve further in the short, medium and long term. In
addition, the expanding initiative to commercially deploy small
modular reactors is seen as an important measure to address the
world's climate change challenge in a safe, environmentally
responsible manner. NexGen is uniquely positioned for this
initiative as we progress through development."
Troy Boisjoli, Vice-President,
Operations and Project Development, commented: "The initial assay
release from our recently completed 2019 Feasibility-stage Arrow
drill program continues to deliver a continuation of high grade
mineralization across the A2 and A3 high-grade domains. When taking
into account the shallow angle of intersection using the latest in
directional drill technology, these results today are among the
very best ever encountered at Arrow. Today's results along with
rest of the Arrow drilling program will be incorporated into the
updated Mineral Resource estimate for use in the Feasibility Study.
The results demonstrate the strength of the Arrow Deposit and of
the drilling process – which is both time efficient and cost
effective – and has achieve significant results in a short period
of time."
Table 1: Arrow Deposit Drill Hole Data
Drill
Hole
|
Athabasca Group -
Basement
Unconformity Depth (m)
|
SRC Geoanalytical
Results
|
Hole
ID
|
Azimuth
|
Dip
|
Total Depth
(m)
|
From
(m)
|
To
(m)
|
Width
(m)
|
U3O8
(wt%)
|
AR-19-221c1
|
327
|
-65
|
576
|
129.5
|
431.50
|
433.50
|
2.0
|
0.08
|
|
|
|
|
|
442.50
|
449.50
|
7.0
|
0.02
|
|
|
|
|
|
477.50
|
487.50
|
10.0
|
0.03
|
|
|
|
|
|
495.50
|
498.50
|
3.0
|
0.06
|
|
|
|
|
|
502.50
|
507.50
|
5.0
|
0.01
|
|
|
|
|
|
510.50
|
517.50
|
7.0
|
0.11
|
|
|
|
|
|
523.50
|
549.50
|
26.0
|
10.39
|
|
|
|
|
incl.
|
527.50
|
535.50
|
8.0
|
32.88
|
|
|
|
|
|
556.50
|
557.50
|
1.0
|
0.01
|
AR-19-221c2
|
327
|
-65
|
597.5
|
N/A
|
408.00
|
408.50
|
0.5
|
0.05
|
|
|
|
|
|
426.50
|
430.50
|
4.0
|
0.06
|
|
|
|
|
|
437.50
|
438.50
|
1.0
|
0.02
|
|
|
|
|
|
441.50
|
442.50
|
1.0
|
0.01
|
|
|
|
|
|
479.00
|
480.00
|
1.0
|
0.017
|
|
|
|
|
|
484.00
|
489.00
|
5.0
|
0.01
|
|
|
|
|
|
494.00
|
523.00
|
29.0
|
0.07
|
|
|
|
|
|
540.00
|
563.00
|
23.0
|
1.86
|
|
|
|
|
incl.
|
541.00
|
548.00
|
7.0
|
4.22
|
|
|
|
|
|
591.50
|
592.00
|
0.5
|
0.021
|
AR-19-222c1
|
327
|
-65
|
597.5
|
133.45
|
400.50
|
404.50
|
4.0
|
0.07
|
|
|
|
|
|
422.00
|
426.00
|
4.0
|
0.05
|
|
|
|
|
|
437.50
|
440.50
|
3.0
|
0.18
|
|
|
|
|
|
445.50
|
482.50
|
37.0
|
0.08
|
|
|
|
|
incl.
|
456.50
|
459.50
|
3.0
|
0.48
|
|
|
|
|
|
489.50
|
490.50
|
1.0
|
0.02
|
|
|
|
|
|
493.50
|
551.50
|
58.0
|
4.12
|
|
|
|
|
incl.
|
528.50
|
541.50
|
13.0
|
17.14
|
|
|
|
|
incl.
|
544.50
|
547.50
|
3.0
|
2.73
|
|
|
|
|
|
557.50
|
559.50
|
2.0
|
0.14
|
|
|
|
|
|
576.50
|
577.50
|
1.0
|
0.03
|
|
|
|
|
|
581.50
|
582.50
|
1.0
|
0.01
|
AR-19-222c2
|
327
|
-65
|
594
|
N/A
|
405.00
|
406.00
|
1.0
|
0.03
|
|
|
|
|
|
412.00
|
413.00
|
1.0
|
0.04
|
|
|
|
|
|
417.00
|
418.00
|
1.0
|
0.16
|
|
|
|
|
|
433.00
|
471.00
|
38.0
|
0.14
|
|
|
|
|
|
474.00
|
493.00
|
19.0
|
0.03
|
|
|
|
|
|
497.00
|
539.00
|
42.0
|
3.83
|
|
|
|
|
incl.
|
509.00
|
522.00
|
13.0
|
11.81
|
|
|
|
|
incl.
|
534.00
|
535.00
|
1.0
|
2.41
|
|
|
|
|
|
543.00
|
547.00
|
4.0
|
0.50
|
|
|
|
|
incl.
|
544.00
|
545.00
|
1.0
|
1.90
|
AR-19-223c1
|
327
|
-65
|
588
|
133.6
|
435.00
|
439.00
|
4.0
|
0.06
|
|
|
|
|
|
442.00
|
443.00
|
1.0
|
0.01
|
|
|
|
|
|
446.00
|
460.00
|
14.0
|
0.20
|
|
|
|
|
|
464.00
|
487.00
|
23.0
|
0.02
|
|
|
|
|
|
490.00
|
529.00
|
39.0
|
0.09
|
|
|
|
|
|
532.00
|
549.00
|
17.0
|
1.82
|
|
|
|
|
incl.
|
539.00
|
542.00
|
3.0
|
8.45
|
|
|
|
|
|
553.00
|
561.00
|
8.0
|
0.17
|
|
|
|
|
|
567.00
|
571.00
|
4.0
|
0.05
|
AR-19-223c2
|
327
|
-65
|
615.5
|
N/A
|
428.50
|
438.50
|
10.0
|
0.01
|
|
|
|
|
|
444.50
|
467.50
|
23.0
|
0.08
|
|
|
|
|
incl.
|
455.50
|
460.50
|
5.0
|
0.25
|
|
|
|
|
|
472.50
|
475.50
|
3.0
|
0.01
|
|
|
|
|
|
478.50
|
481.50
|
3.0
|
0.01
|
|
|
|
|
|
487.50
|
516.50
|
29.0
|
0.04
|
|
|
|
|
|
522.50
|
531.50
|
9.0
|
0.02
|
|
|
|
|
|
536.50
|
558.50
|
22.0
|
4.48
|
|
|
|
|
incl.
|
541.50
|
550.50
|
9.0
|
10.79
|
|
|
|
|
|
564.50
|
576.50
|
12.0
|
0.32
|
|
|
|
|
incl.
|
567.50
|
568.50
|
1.0
|
2.44
|
|
|
|
|
|
581.50
|
583.50
|
2.0
|
0.01
|
AR-19-223c3
|
327
|
-65
|
586.5
|
N/A
|
417.50
|
418.00
|
0.5
|
0.04
|
|
|
|
|
|
425.00
|
426.00
|
1.0
|
0.08
|
|
|
|
|
|
435.00
|
448.00
|
13.0
|
0.08
|
|
|
|
|
|
451.00
|
460.00
|
9.0
|
0.12
|
|
|
|
|
|
462.50
|
465.00
|
2.5
|
0.02
|
|
|
|
|
|
468.50
|
470.50
|
2.0
|
0.03
|
|
|
|
|
|
473.00
|
495.00
|
22.0
|
0.04
|
|
|
|
|
|
498.00
|
551.00
|
53.0
|
0.67
|
|
|
|
|
incl.
|
536.00
|
545.00
|
9.0
|
3.58
|
|
|
|
|
|
559.00
|
566.00
|
7.0
|
1.20
|
|
|
|
|
incl.
|
562.00
|
564.00
|
2.0
|
3.96
|
|
|
|
|
|
570.00
|
575.00
|
5.0
|
0.02
|
AR-19-224c1
|
327
|
-65
|
597.5
|
129.45
|
443.00
|
456.00
|
13.0
|
0.03
|
|
|
|
|
|
465.00
|
466.00
|
1.0
|
0.04
|
|
|
|
|
|
469.00
|
474.00
|
5.0
|
0.09
|
|
|
|
|
|
497.50
|
506.50
|
9.0
|
0.04
|
|
|
|
|
|
509.50
|
512.50
|
3.0
|
0.03
|
|
|
|
|
|
519.50
|
551.50
|
32.0
|
0.04
|
|
|
|
|
incl.
|
549.50
|
550.50
|
1.0
|
0.35
|
|
|
|
|
|
554.50
|
575.50
|
21.0
|
15.36
|
|
|
|
|
incl.
|
554.50
|
568.50
|
14.0
|
22.69
|
AR-19-224c2
|
327
|
-65
|
612.5
|
N/A
|
441.00
|
454.00
|
13.0
|
0.04
|
|
|
|
|
|
462.00
|
464.00
|
2.0
|
0.01
|
|
|
|
|
|
476.00
|
479.00
|
3.0
|
0.17
|
|
|
|
|
|
492.00
|
503.00
|
11.0
|
0.08
|
|
|
|
|
|
506.00
|
509.00
|
3.0
|
0.04
|
|
|
|
|
|
512.00
|
514.00
|
2.0
|
0.02
|
|
|
|
|
|
518.00
|
519.00
|
1.0
|
0.03
|
|
|
|
|
|
523.00
|
532.00
|
9.0
|
0.01
|
|
|
|
|
|
538.00
|
572.00
|
34.0
|
8.96
|
|
|
|
|
incl.
|
550.00
|
564.00
|
14.0
|
20.99
|
|
|
|
|
|
580.00
|
586.00
|
6.0
|
0.21
|
|
|
|
|
incl.
|
582.00
|
583.00
|
1.0
|
1.07
|
AR-19-225c1
|
327
|
-65
|
627.5
|
128.7
|
450.00
|
450.50
|
0.5
|
0.03
|
|
|
|
|
|
474.00
|
474.50
|
0.5
|
0.01
|
|
|
|
|
|
494.00
|
496.00
|
2.0
|
0.02
|
|
|
|
|
|
500.00
|
507.00
|
7.0
|
0.04
|
|
|
|
|
|
520.00
|
526.00
|
6.0
|
0.05
|
|
|
|
|
|
531.00
|
532.00
|
1.0
|
0.13
|
|
|
|
|
|
536.00
|
542.00
|
6.0
|
0.01
|
|
|
|
|
|
545.00
|
546.00
|
1.0
|
0.16
|
|
|
|
|
|
554.00
|
556.00
|
2.0
|
0.02
|
|
|
|
|
|
559.00
|
561.00
|
2.0
|
0.02
|
|
|
|
|
|
564.00
|
600.00
|
36.0
|
11.36
|
|
|
|
|
incl.
|
570.00
|
582.00
|
12.0
|
33.78
|
AR-19-225c2
|
327
|
-65
|
636.5
|
N/A
|
472.50
|
474.50
|
2.0
|
0.04
|
|
|
|
|
|
478.50
|
480.50
|
2.0
|
0.13
|
|
|
|
|
|
530.50
|
536.50
|
6.0
|
0.02
|
|
|
|
|
|
556.50
|
598.50
|
42.0
|
3.08
|
|
|
|
|
incl.
|
574.50
|
589.50
|
15.0
|
8.31
|
|
|
|
|
|
601.50
|
607.50
|
6.0
|
0.02
|
AR-19-226c1
|
327
|
-65
|
564.5
|
131.5
|
362.00
|
363.00
|
1.0
|
0.02
|
|
|
|
|
|
446.50
|
447.50
|
1.0
|
0.04
|
|
|
|
|
|
456.50
|
468.50
|
12.0
|
0.03
|
|
|
|
|
|
472.50
|
473.50
|
1.0
|
0.13
|
|
|
|
|
|
480.50
|
483.50
|
3.0
|
0.03
|
|
|
|
|
|
491.50
|
508.50
|
17.0
|
0.11
|
|
|
|
|
incl.
|
506.50
|
508.50
|
2.0
|
0.35
|
|
|
|
|
|
512.50
|
528.50
|
16.0
|
9.65
|
|
|
|
|
incl.
|
512.50
|
516.50
|
4.0
|
32.75
|
|
|
|
|
|
536.50
|
539.50
|
3.0
|
0.41
|
AR-19-226c1a
|
327
|
-65
|
177
|
144.15
|
No Anomolous
Radioactivity
|
AR-19-226c2
|
327
|
-65
|
567
|
N/A
|
453.00
|
454.50
|
1.5
|
0.02
|
|
|
|
|
|
457.50
|
458.00
|
0.5
|
0.03
|
|
|
|
|
|
463.00
|
469.00
|
6.0
|
0.02
|
|
|
|
|
|
474.50
|
475.00
|
0.5
|
0.02
|
|
|
|
|
|
489.50
|
523.50
|
34.0
|
2.34
|
|
|
|
|
incl.
|
512.50
|
522.50
|
10.0
|
7.64
|
|
|
|
|
|
526.50
|
530.50
|
4.0
|
0.06
|
|
|
|
|
|
541.50
|
542.50
|
1.0
|
0.01
|
|
|
|
|
|
547.00
|
549.00
|
2.0
|
0.15
|
|
|
|
|
|
553.00
|
554.00
|
1.0
|
0.01
|
AR-19-227c1
|
327
|
-65
|
525.5
|
138.3
|
440.00
|
447.00
|
7.0
|
0.02
|
|
|
|
|
|
450.00
|
453.00
|
3.0
|
0.01
|
|
|
|
|
|
463.00
|
507.00
|
44.0
|
1.72
|
|
|
|
|
incl.
|
476.00
|
483.00
|
7.0
|
9.69
|
AR-19-227c2
|
327
|
-65
|
540.5
|
N/A
|
429.00
|
430.00
|
1.0
|
0.01
|
|
|
|
|
|
439.00
|
441.00
|
2.0
|
0.03
|
|
|
|
|
|
454.00
|
456.00
|
2.0
|
0.02
|
|
|
|
|
|
460.00
|
509.00
|
49.0
|
2.93
|
|
|
|
|
incl.
|
479.00
|
482.00
|
3.0
|
5.13
|
|
|
|
|
incl.
|
489.00
|
492.00
|
3.0
|
4.08
|
|
|
|
|
incl.
|
497.00
|
500.00
|
3.0
|
9.06
|
|
|
|
|
incl.
|
504.00
|
507.00
|
3.0
|
22.66
|
|
|
|
|
|
513.00
|
518.00
|
5.0
|
0.57
|
AR-19-228c1
|
327
|
-65
|
663.5
|
134
|
458.00
|
484.00
|
26.0
|
0.19
|
|
|
|
|
incl.
|
462.00
|
467.00
|
5.0
|
0.52
|
|
|
|
|
|
487.00
|
488.00
|
1.0
|
0.08
|
|
|
|
|
|
492.00
|
493.00
|
1.0
|
0.07
|
|
|
|
|
|
504.00
|
506.00
|
2.0
|
0.04
|
|
|
|
|
|
512.00
|
524.00
|
12.0
|
0.52
|
|
|
|
|
incl.
|
514.00
|
519.00
|
5.0
|
1.04
|
|
|
|
|
|
535.00
|
536.00
|
1.0
|
0.01
|
|
|
|
|
|
548.00
|
554.00
|
6.0
|
0.01
|
|
|
|
|
|
567.00
|
570.00
|
3.0
|
0.03
|
|
|
|
|
|
575.00
|
582.00
|
7.0
|
0.10
|
|
|
|
|
|
598.00
|
625.00
|
27.0
|
2.56
|
|
|
|
|
incl.
|
613.00
|
623.00
|
10.0
|
6.76
|
|
|
|
|
|
629.00
|
639.00
|
10.0
|
0.50
|
|
|
|
|
incl.
|
629.00
|
632.00
|
3.0
|
1.61
|
|
|
|
|
|
646.00
|
649.00
|
3.0
|
0.03
|
|
|
|
|
|
652.00
|
654.00
|
2.0
|
0.01
|
|
|
|
|
|
658.00
|
661.00
|
3.0
|
0.03
|
AR-19-228c2
|
327
|
-65
|
672.5
|
N/A
|
459.50
|
481.50
|
22.0
|
0.33
|
|
|
|
|
incl.
|
464.50
|
469.50
|
5.0
|
0.90
|
|
|
|
|
|
486.50
|
487.00
|
0.5
|
0.02
|
|
|
|
|
|
509.00
|
511.00
|
2.0
|
0.09
|
|
|
|
|
|
515.00
|
536.00
|
21.0
|
0.33
|
|
|
|
|
incl.
|
519.00
|
521.00
|
2.0
|
1.45
|
|
|
|
|
|
557.50
|
558.00
|
0.5
|
0.01
|
|
|
|
|
|
560.50
|
563.50
|
3.0
|
0.01
|
|
|
|
|
|
573.50
|
575.50
|
2.0
|
0.01
|
|
|
|
|
|
581.00
|
585.00
|
4.0
|
0.02
|
|
|
|
|
|
597.00
|
610.00
|
13.0
|
0.03
|
|
|
|
|
|
616.00
|
627.00
|
11.0
|
5.76
|
|
|
|
|
incl.
|
624.00
|
627.00
|
3.0
|
18.84
|
|
|
|
|
|
630.00
|
634.00
|
4.0
|
0.10
|
|
|
|
|
|
637.00
|
663.00
|
26.0
|
0.26
|
|
|
|
|
incl.
|
641.00
|
645.00
|
4.0
|
1.30
|
AR-19-233c1
|
327
|
-65
|
534.5
|
133.7
|
447.50
|
450.50
|
3.0
|
0.22
|
|
|
|
|
|
453.50
|
491.50
|
38.0
|
1.85
|
|
|
|
|
incl.
|
472.50
|
480.50
|
8.0
|
4.02
|
|
|
|
|
incl.
|
489.50
|
491.50
|
2.0
|
5.97
|
|
|
|
|
|
494.50
|
503.50
|
9.0
|
0.37
|
|
|
|
|
incl.
|
500.50
|
501.50
|
1.0
|
3.05
|
|
|
|
|
|
508.50
|
509.50
|
1.0
|
0.04
|
AR-19-233c2
|
327
|
-65
|
537.5
|
N/A
|
457.00
|
511.00
|
54.0
|
1.96
|
|
|
|
|
incl.
|
473.00
|
489.00
|
16.0
|
5.85
|
|
|
|
|
|
522.00
|
523.00
|
1.0
|
0.04
|
Parameters:
- Maximum internal dilution 2.0 m
downhole
- Minimum thickness of 0.5 m
downhole
- Cutoff grade 0.01% U3O8
- All depths and intervals are metres downhole, true thicknesses
are yet to be determined. Resource modelling in conjunction with an
updated mineral resource estimate is required before true
thicknesses can be determined
- Directional drilling has often resulted in mineralization
intersected at a more favourable and shallower dip
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 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, including an expansive portfolio of prospective
uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada. 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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SOURCE NexGen Energy Ltd.