NexGen Makes Significant New Discoveries of Near Arrow Mineralization Northwest and Along Strike in Winter Drill Campaign

T.NXE, NexGen, uranium

VANCOUVERMay 2, 2018 /PRNewswire/ – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, NYSE MKT:NXE)is pleased to report radioactivity results for fifty-four holes comprising 30,208 m from Arrow, South Arrow and regional exploration as part of our now concluded winter drilling program on our 100% owned, Rook I property, in the AthabascaBasin, Saskatchewan.

Highlights:

Discovery of A0 Shear

Follow up drilling to the northwest of the Arrow deposit (where hole GAR-17-001 recently discovered mineralization that returned 8.0 m at 1.43% U3O8) has successfully confirmed mineralization in a new shear named the “A0 Shear”.

  • AR-18-187c3 intersected 33.0 m of total composite mineralization including 0.3 m of total composite off-scale radioactivity (>10,000 to 17,000 cps) within a 67.5 m section (535.5 to 603.0 m) in the A0 shear.

New Mineralization Intersected 160 m Northwest of the AO Shear

Furthermore, the last hole of the 2018 winter program intersected off-scale mineralization 160 m northwest of the A0 shear. This new area of mineralization has yet to be defined, meaning the northwest remains completely open and untested for the future expansion of the Arrow Deposit.

  • AR-18-208c1 intersected 10.5 m of total composite mineralization including 0.2 m of total composite off-scale radioactivity (>10,000 to 32,800 cps) within a 182.5 m section (562.0 to 744.5 mnorthwest of the A0 shear zone.

Mineralization Intersected to the Northeast of the A1 and A2 Shears

Drilling focused to the northeast of the Arrow Deposit, testing 50 m along strike from known mineralization at varying elevations intersected significant mineralization within the A1 and A2 shears. The systematic step-outs to the northeast show that Arrow remains largely open and untested at these elevations in the A1 and A2 shears.

  • AR-18-189c4 intersected 40.0 m of total composite mineralization including 3.9 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 54.0 m section (820.0 to 874.0 m) in the A1 and A2 shears. The hole successfully expanded both the A1 and A2 shear zones to the northeast of existing A1 and A2 inferred resource grade shells.

A2 Shear Expansion

  • AR-18-186c1 intersected 28.5 m of total composite mineralization including 5.3 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 45.0 m section (507.5 to 552.5 m) in the A2 shear. The hole successfully expanded the thickness of the A2 shear zone to the northeast of the current A2 Inferred resource grade shells.
  • AR-18-200c2 intersected 36.0 m of total composite mineralization including 5.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 43.0 m section (739 to 782.0 m) in the A2 shear. The hole expanded the thickness of the A2 shear zone, down-dip from the existing A2 high-grade domain.

A3 Shear Infill

Positive infill drill results from the A3 high-grade domains continued, where the objective was to convert Inferred to Indicated Mineral Resources, where the Indicated Mineral Resources only will be incorporated into the Pre-Feasibility Study scheduled for Q3/2018 release.

  • AR-18-202c1 intersected 40.0 m of total composite mineralization including 4.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 119.5 m section (477.5 to 597.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.
  • AR-18-186c2 intersected 55.0 m of total composite mineralization including 3.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 123.0 m section (393.0 to 516.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.
  • AR-18-197c3 intersected 40.0 m of total composite mineralization including 3.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 116.5 m section (595.0 to 711.5 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.

Regional Exploration

South Arrow

Expansion drilling intersected mineralization including off-scale radioactivity which was 175 m southwest of the main zone of mineralization at South Arrow. The target area remains prospective for future exploration and expansion.

  • AR-18-199c1 intersected 9.5 m of total composite mineralization including 0.1 m of total composite off-scale radioactivity (>10,000 to 13,500 cps) within a 32.5 m section (345.5 to 378.0 m).

Patterson Conductor Corridor

Regional drilling on the Patterson Corridor focused on two high priority target areas, which included Mirror and the Arrow VTEM Conductor. The Mirror target area is located 1.5 km southeast of the Arrow Deposit along a parallel conductor. The drill holes in the area successfully intersected the targeted VTEM conductor but did not encounter significant uranium mineralization. The Arrow Conductor is situated approximately 2.5 km southwest and along strike from the Arrow Deposit, hosted within the same VTEM conductor. Arrow-type silicified semi-pelitic gneiss was intersected throughout in all of the 6 holes drilled in the area. Moderate to intense sericitic alteration, similar to Arrow-type alteration found proximal to the Arrow deposit was intersected in several of the drill holes.

Drill hole locations and long sections are shown in Figures 1 to 4. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Activities & Financial

  • The Arrow Deposit remains open in most directions, with high potential for future high-grade discoveries in close proximity to existing mineral resources.
  • Pre-feasibility staged technical studies including geotechnical work, hydrogeological work, and metallurgy continue in advance of the updated Mineral Resource Estimate and maiden Pre-Feasibility Study scheduled for the end of Q3 / early Q4 2018.
  • The Company has cash on hand of approximately ~$150 million.

Troy Boisjoli, Vice-President, Operations and Project Development, commented: “The four winter 2018 drill program objectives were successfully reached. Two significant exploration initiatives resulted in the discovery of an A0 shear zone, and secondly testing 160 m northwest of the A0 shear has also intersected intense mineralization within another, yet to be defined zone which remains open. Additionally, expansion of Mineral Resources within the A1 and A2 shear zones from the AR-18-189 series holes demonstrate Arrow remains open on strike. The continued success of resource expansion and near Arrow exploration drilling, from my experience, indicates the absolute scale of the Arrow Deposit will not be fully realized without significantly more drilling and ultimately, not until underground. Furthermore, the infill drilling highlights the robustness of the Arrow Mineral Resource model and has maximized available Indicated Mineral Resources for the purpose of the maiden Pre-Feasibility Study. Regional exploration testing along strike from the Arrow Deposit successfully intersected prospective, Arrow-type alteration and lithological packages which highlights the potential for future discoveries along the Patterson Lake Corridor. The team is looking forward to testing the new A0 shear, northwest of the A0, northeast of the A1 and A2 and to the southwest of Arrow during summer 2018. ”

Leigh Curyer, Chief Executive Officer, commented: “The targeted winter drill campaign focused on converting Inferred to Indicated, expanding the overall footprint in previously untested areas and understanding future growth potential of Arrow. All of these were successfully achieved and with the discovery of the A0, intense mineralization 160m to the northwest of the A0, and to the northeast of the A1 and A2 shears, suggests substantial drilling is required to determine the ultimate extent of Arrow.  Troy and his team are already in planning for a summer 2018 exploration and development program.”

Table 1: Arrow 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-18-186c1

330

-68

840.50

132.00

389.00

392.00

3.00

<500 –  33000

405.50

406.00

0.50

<500 –  1020

412.50

413.50

1.00

<500 –  8000

417.00

426.50

9.50

<500 –  9000

430.00

441.50

11.50

<500 –  61000

446.00

446.50

0.50

<500 –  850

454.00

462.50

8.50

<500 –  3800

467.50

469.00

1.50

<500 –  1480

507.50

514.50

7.00

<500 –  1450

531.00

552.50

21.50

<500 –  61000

582.50

583.00

0.50

<500 –  860

585.50

586.00

0.50

<500 –  600

590.00

597.50

7.50

<500 –  61000

666.00

666.50

0.50

<500 –  680

745.00

746.50

1.50

<500 –  1900

AR-18-186c2

330

-68

561.50

N/A

393.00

394.50

1.50

<500 –  1700

406.00

407.00

1.00

<500 –  2300

411.00

411.50

0.50

<500 –  2740

432.00

435.50

3.50

<500 –  12000

442.50

445.00

2.50

<500 –  61000

448.00

452.50

4.50

<500 –  16000

455.50

476.00

20.50

<500 –  61000

479.50

482.50

3.00

<500 –  1720

487.50

488.00

0.50

<500 –  520

492.00

505.00

13.00

<500 –  4700

507.50

508.50

1.00

<500 –  2300

512.50

516.00

3.50

<500 –  1800

550.00

554.00

4.00

<500 –  1250

AR-18-187c1

327

-70

657.50

117.00

237.50

238.00

0.50

<500 –  9400

276.50

308.00

31.50

<500 –  5800

316.00

320.50

4.50

<500 –  2710

325.50

326.00

0.50

<500 –  505

333.00

333.50

0.50

830 –  2690

350.00

350.50

0.50

<500 –  1730

402.50

406.50

4.00

<500 –  850

421.00

423.50

2.50

<500 –  1500

437.00

444.00

7.00

<500 –  1490

478.50

481.50

3.00

<500 –  1100

521.00

523.50

2.50

<500 –  26000

AR-18-187c2

327

-70

930.50

N/A

281.00

283.50

2.50

<500 –  930

301.50

328.50

27.00

<500 –  5230

331.00

331.50

0.50

750 –  1000

335.50

343.00

7.50

<500 –  1160

346.50

347.00

0.50

<500 –  710

356.50

357.00

0.50

<500 –  600

394.50

395.00

0.50

<500 –  900

398.50

399.00

0.50

<500 –  540

405.50

411.00

5.50

<500 –  1100

414.00

431.00

17.00

<500 –  61000

455.50

456.00

0.50

<500 –  520

487.00

495.00

8.00

<500 –  1270

892.50

893.50

1.00

<500 –  780

AR-18-187c3

327

-70

914.50

N/A

280.50

282.00

1.50

<500 –  700

288.00

302.00

14.00

<500 –  6580

309.00

315.50

6.50

<500 –  3400

330.00

347.50

17.50

<500 –  3400

350.50

352.50

2.00

<500 –  1210

359.50

360.50

1.00

<500 –  720

408.50

413.00

4.50

<500 –  1200

426.00

428.50

2.50

<500 –  880

535.50

536.50

1.00

<500 –  690

547.00

548.50

1.50

<500 –  17000

552.50

557.00

4.50

<500 –  3590

559.50

560.50

1.00

<500 –  710

563.50

580.00

16.50

<500 –  2040

583.50

585.50

2.00

<500 –  1260

596.50

603.00

6.50

<500 –  9800

AR-18-187c4

327

-70

918.50

N/A

283.00

330.50

47.50

<500 –  33000

339.50

340.00

0.50

<500 –  550

401.00

404.50

3.50

<500 –  3000

407.50

408.00

0.50

<500 –  720

412.50

417.00

4.50

<500 –  19500

419.50

427.00

7.50

<500 –  27000

448.50

453.00

4.50

<500 –  2800

460.00

460.50

0.50

<500 –  540

675.50

677.50

2.00

<500 –  1600

AR-18-188c1

327

-70

519.00

125.65

420.00

420.50

0.50

<500 –  630

432.00

432.50

0.50

<500 –  680

477.50

478.00

0.50

<500 –  550

483.50

489.00

5.50

<500 –  1800

AR-18-188c2

327

-70

582.00

N/A

428.00

428.50

0.50

<500 –  620

432.50

434.00

1.50

<500 –  1050

486.50

487.00

0.50

<500 –  725

493.00

495.00

2.00

<500 –  15400

500.00

501.50

1.50

<500 –  40000

505.50

507.00

1.50

<500 –  61000

AR-18-188c3

327

-70

597.00

N/A

440.00

440.50

0.50

<500 –  760

443.50

444.50

1.00

<500 –  760

495.50

496.00

0.50

<500 –  510

506.50

512.00

5.50

<500 –  2100

517.00

519.00

2.00

<500 –  9600

521.50

527.00

5.50

<500 –  7800

558.50

559.00

0.50

<500 –  560

AR-18-189c1

327

-70

984.50

128.00

704.00

705.00

1.00

<500 –  1100

855.00

859.00

4.00

<500 –  2258

867.00

871.00

4.00

<500 –  8200

884.50

885.50

1.00

<500 –  1400

AR-18-189c2

327

-70

1056.50

N/A

No Anomalous Radioactivity

AR-18-189c3

327

-70

972.50

N/A

828.50

836.50

8.00

<500 –  4700

843.50

848.00

4.50

<500 –  2200

850.50

855.00

4.50

<500 –  2400

862.50

873.00

10.50

<500 –  5600

879.50

885.00

5.50

<500 –  35000

AR-18-189c4

327

-70

930.50

N/A

820.00

826.00

6.00

<500 –  61000

832.00

852.50

20.50

<500 –  61000

855.50

868.50

13.00

<500 –  18500

873.50

874.00

0.50

<500 –  600

AR-18-189c5

327

-70

915.50

N/A

424.50

425.00

0.50

<500 –  1240

798.50

802.50

4.00

<500 –  24400

807.00

808.50

1.50

<500 –  2000

812.50

813.00

0.50

<500 –  840

816.50

819.50

3.00

<500 –  950

829.50

832.50

3.00

<500 –  8000

836.00

842.00

6.00

<500 –  6800

AR-18-195c1

327

-70

519.50

N/A

395.50

396.00

0.50

<500 –  600

406.50

407.00

0.50

<500 –  1010

409.50

410.50

1.00

<500 –  3700

414.00

415.00

1.00

<500 –  39000

428.50

432.00

3.50

<500 –  61000

436.00

465.00

29.00

<500 –  61000

AR-18-195c2

327

-70

543.50

N/A

405.00

406.00

1.00

<500 –  3000

409.00

409.50

0.50

<500 –  630

415.50

416.00

0.50

<500 –  20000

420.00

421.00

1.00

<500 –  4500

431.00

433.00

2.00

<500 –  61000

441.50

442.00

0.50

<500 –  4800

446.00

451.00

5.00

<500 –  22000

457.00

460.50

3.50

<500 –  33000

463.00

463.50

0.50

<500 –  1700

467.00

469.50

2.50

<500 –  16000

472.50

486.00

13.50

<500 –  61000

AR-18-195c3

327

-70

501.50

N/A

387.00

395.50

8.50

<500 –  3200

398.00

405.00

7.00

<500 –  8000

430.00

433.00

3.00

<500 –  1060

436.00

437.00

1.00

<500 –  1100

AR-18-197c1

327

-70

630.50

N/A

522.50

523.00

0.50

<500 –  580

563.00

564.50

1.50

<500 –  28000

575.50

576.50

1.00

<500 –  60000

582.00

582.50

0.50

<500 –  2050

587.00

591.50

4.50

<500 –  2550

595.50

596.50

1.00

<500 –  1300

606.50

608.50

2.00

<500 –  1400

612.50

618.50

6.00

<500 –  2200

623.00

627.00

4.00

<500 –  830

630.00

630.50

0.50

<500 –  1450

AR-18-197c2

327

-70

813.50

N/A

585.00

585.50

0.50

500 –  20500

594.50

598.00

3.50

<500 –  5800

610.50

620.50

10.00

<500 –  61000

624.00

629.50

5.50

<500 –  2800

690.00

696.50

6.50

<500 –  2700

703.50

704.00

0.50

<500 –  700

719.00

719.50

0.50

<500 –  1150

753.00

753.50

0.50

<500 –  550

765.50

769.50

4.00

<500 –  13200

AR-18-197c3

327

-70

723.50

N/A

549.00

549.50

0.50

<500 –  570

586.00

586.50

0.50

<500 –  7200

589.50

590.50

1.00

<500 –  5800

595.00

596.00

1.00

500 –  61000

620.00

621.00

1.00

<500 –  61000

630.50

631.00

0.50

<500 –  780

634.50

635.00

0.50

<500 –  3200

638.00

655.50

17.50

<500 –  61000

659.00

661.50

2.50

<500 –  7100

666.50

669.00

2.50

<500 –  2550

673.00

674.00

1.00

<500 –  1360

676.50

687.50

11.00

<500 –  1630

703.00

703.50

0.50

<500 –  1000

707.00

708.50

1.50

<500 –  1800

711.00

711.50

0.50

<500 –  530

AR-18-197c4

327

-70

858.50

N/A

607.00

608.50

1.50

<500 –  61000

616.00

616.50

0.50

<500 –  7600

632.50

634.00

1.50

<500 –  61000

641.00

643.00

2.00

<500 –  11500

645.50

646.50

1.00

<500 –  8450

658.50

660.50

2.00

<500 –  1000

664.00

665.00

1.00

<500 –  1400

667.50

668.00

0.50

<500 –  790

674.50

688.50

14.00

<500 –  61000

697.50

698.00

0.50

<500 –  505

744.50

745.00

0.50

<500 –  590

759.00

760.00

1.00

<500 –  2100

784.50

786.50

2.00

<500 –  16600

789.50

790.50

1.00

<500 –  2600

827.00

832.00

5.00

<500 –  13000

835.50

838.00

2.50

<500 –  4100

AR-18-200c1

327

-70

885.50

121.20

489.50

492.50

3.00

<500 –  1900

530.50

531.50

1.00

<500 –  6200

536.00

537.00

1.00

<500 –  3600

606.50

607.00

0.50

<500 –  6500

627.50

629.00

1.50

<500 –  16000

634.50

635.00

0.50

<500 –  1600

645.50

646.00

0.50

<500 –  2000

651.00

651.50

0.50

<500 –  27000

659.00

671.00

12.00

<500 –  5000

674.00

689.50

15.50

<500 –  4700

705.50

710.50

5.00

<500 –  3250

714.00

716.00

2.00

<500 –  2950

728.50

729.00

0.50

<500 –  1290

737.50

740.50

3.00

<500 –  3200

745.50

759.50

14.00

<500 –  61000

763.50

774.00

10.50

<500 –  24000

AR-18-200c2

327

-70

900.00

N/A

531.00

532.00

1.00

<500 –  1100

536.00

536.50

0.50

<500 –  810

644.50

647.50

3.00

<500 –  21000

653.00

653.50

0.50

<500 –  12800

672.50

692.00

19.50

<500 –  3200

702.00

703.50

1.50

<500 –  13000

721.50

736.50

15.00

<500 –  5360

739.00

769.50

30.50

<500 –  61000

772.00

774.00

2.00

<500 –  1010

779.00

782.00

3.00

<500 –  2300

835.00

835.50

0.50

<500 –  690

AR-18-200c3

327

-70

882.50

N/A

618.50

619.00

0.50

<500 –  4400

645.00

645.50

0.50

<500 –  11000

648.50

649.00

0.50

<500 –  2250

653.00

653.50

0.50

<500 –  1100

664.00

664.50

0.50

<500 –  530

667.00

671.00

4.00

<500 –  4300

673.50

675.50

2.00

<500 –  1890

679.00

683.50

4.50

<500 –  15000

693.50

699.50

6.00

<500 –  2500

715.00

726.00

11.00

<500 –  1380

730.50

746.50

16.00

<500 –  2400

758.00

759.50

1.50

<500 –  61000

765.50

770.50

5.00

<500 –  7300

810.00

810.50

0.50

<500 –  650

AR-18-200c4

327

-70

870.50

N/A

503.00

503.50

0.50

<500 –  940

514.50

515.00

0.50

<500 –  1210

521.50

522.00

0.50

<500 –  8750

611.50

616.50

5.00

<500 –  23000

628.50

631.50

3.00

<500 –  5600

634.50

639.00

4.50

<500 –  21000

644.00

644.50

0.50

<500 –  750

649.50

651.50

2.00

<500 –  2220

654.50

656.50

2.00

<500 –  2020

678.00

682.00

4.00

<500 –  3200

724.00

744.00

20.00

<500 –  54000

749.50

761.00

11.50

<500 –  60000

766.00

767.50

1.50

<500 –  3000

773.00

777.00

4.00

<500 –  7100

781.00

788.50

7.50

<500 –  4990

791.50

792.00

0.50

<500 –  820

796.00

799.00

3.00

<500 –  12100

AR-18-202c1

327

-70

600.50

N/A

451.00

452.00

1.00

<500 –  1850

461.50

465.00

3.50

<500 –  7750

473.50

474.50

1.00

<500 –  720

477.50

483.00

5.50

<500 –  30000

485.50

486.50

1.00

<500 –  2100

495.50

509.50

14.00

<500 –  61000

512.00

523.50

11.50

<500 –  61000

528.00

529.00

1.00

<500 –  6000

532.00

536.00

4.00

<500 –  61000

541.00

541.50

0.50

<500 –  15000

550.00

550.50

0.50

<500 –  1100

565.00

566.50

1.50

<500 –  800

596.50

597.00

0.50

<500 –  550

AR-18-202c2

327

-70

621.50

N/A

368.50

369.50

1.00

<500 –  1300

455.50

456.00

0.50

<500 –  620

461.50

468.00

6.50

<500 –  5600

478.50

479.50

1.00

<500 –  1200

483.50

484.50

1.00

<500 –  24000

494.50

495.00

0.50

<500 –  630

504.00

509.50

5.50

<500 –  16000

516.50

517.00

0.50

<500 –  2500

522.00

524.50

2.50

<500 –  39000

528.00

530.00

2.00

<500 –  32000

532.50

533.00

0.50

<500 –  740

543.50

544.50

1.00

<500 –  2800

549.00

552.00

3.00

<500 –  10800

571.50

576.50

5.00

<500 –  61000

580.00

581.00

1.00

<500 –  1700

593.50

595.00

1.50

<500 –  1300

604.50

616.50

12.00

<500 –  7800

AR-18-205c1

355

-70

571.00

103.15

No Anomalous Radioactivity

AR-18-206c1

327

-68

777.50

103.95

501.50

504.00

2.50

<500 –  1000

553.50

557.50

4.00

<500 –  14000

575.50

576.00

0.50

<500 –  1300

584.00

585.50

1.50

<500 –  16000

634.50

635.00

0.50

1000 –  61000

640.00

640.50

0.50

<500 –  600

649.00

657.50

8.50

<500 –  29000

671.50

676.50

5.00

<500 –  34000

681.00

690.00

9.00

<500 –  42000

694.50

695.00

0.50

<500 –  1750

697.50

700.00

2.50

<500 –  4900

712.50

717.50

5.00

<500 –  890

726.00

726.50

0.50

<500 –  2350

732.00

732.50

0.50

<500 –  1150

738.00

738.50

0.50

<500 –  530

742.00

745.50

3.50

<500 –  5300

751.00

751.50

0.50

<500 –  500

761.50

771.00

9.50

<500 –  5200

AR-18-207c1

327

-68

1083.50

123.40

573.00

575.50

2.50

<500 –  4000

580.50

581.00

0.50

<500 –  1900

712.00

712.50

0.50

<500 –  7500

AR-18-208c1

327

-68

802.70

108.15

198.50

199.00

0.50

<500 –  1050

562.00

562.50

0.50

<500 –  1350

598.00

598.50

0.50

<500 –  1170

637.50

638.00

0.50

<500 –  8900

662.00

662.50

0.50

<500 –  600

686.00

688.50

2.50

<500 –  32800

717.50

722.50

5.00

<500 –  1020

743.50

744.50

1.00

<500 –  660

AR-18-209c1

327

-68

762.50

115.60

500.50

507.00

6.50

<500 –  1730

709.00

709.50

0.50

<500 –  580

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

Table 2: South Arrow 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-18-190c1

315

-68

348.00

N/A

No Anomalous Radioactivity

AR-18-191c1

315

-70

375.00

N/A

No Anomalous Radioactivity

AR-18-192c1

315

-68

429.00

N/A

300.50

301.00

0.50

<500 –  550

304.00

305.00

1.00

<500 –  970

AR-18-193c1

315

-70

657.50

N/A

No Anomalous Radioactivity

AR-18-194c1

315

-68

555.50

N/A

356.50

357.00

0.50

<500 –  2800

375.50

376.00

0.50

<500 –  505

457.50

458.00

0.50

<500 –  570

470.00

470.50

0.50

<500 –  550

478.00

479.00

1.00

<500 –  850

AR-18-196c1

315

-67

615.50

N/A

No Anomalous Radioactivity

AR-18-198c1

315

-68

543.00

N/A

338.50

339.50

1.00

<500 –  1200

367.50

368.00

0.50

<500 –  600

456.00

458.00

2.00

<500 –  2200

460.50

465.00

4.50

<500 –  3300

468.50

469.00

0.50

<500 –  505

AR-18-199c1

315

-68

567.00

N/A

345.50

347.50

2.00

<500 –  850

350.50

351.00

0.50

<500 –  620

359.50

360.00

0.50

<500 –  580

374.50

378.00

3.50

<500 –  13500

AR-18-199c2

315

-68

486.00

N/A

402.00

402.50

0.50

<500 –  700

AR-18-201c1

315

-66

444.00

N/A

252.00

252.50

0.50

<500 –  630

AR-18-203c1

315

-66

510.50

N/A

253.50

254.00

0.50

<500 –  790

AR-18-204c1

315

-66

524.00

N/A

No Anomalous Radioactivity

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

Table 3: Regional Exploration 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

RK-18-120

140

-70

615.50

N/A

No Anomalous Radioactivity

RK-18-121

340

-70

609.00

N/A

No Anomalous Radioactivity

RK-18-122

320

-70

651.50

N/A

No Anomalous Radioactivity

RK-18-123

340

-70

561.50

N/A

No Anomalous Radioactivity

RK-18-124

340

-67

504.50

N/A

No Anomalous Radioactivity

*RK-18-125

320

-66

496.00

N/A

290.00

291.50

1.50

<500 –  4300

321.00

323.00

2.00

<500 –  2700

RK-18-126

327

-66

532.50

N/A

No Anomalous Radioactivity

RK-18-127

345

-66

423.50

N/A

No Anomalous Radioactivity

RK-18-128

320

-66

407.00

N/A

No Anomalous Radioactivity

RK-18-129

325

-66

399.00

N/A

No Anomalous Radioactivity

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
  • *Mineralization listed in RK-18-125 was determined via a RS-125 Spectrometer to be of a Thorium source.

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 in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. 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. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen. Mr. Boisjoli 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. CoxDavid M. RobsonMark B. MathisenDavid A. RossVal 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.

U.S. investors are advised that while the terms “indicated resources” and “inferred resources” are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize these terms. U.S. investors are cautioned not to assume that any part or all of the material in these categories will ever be converted into mineral reserves.

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 31, 2017 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.

SOURCE NexGen Energy Ltd.

Related Links

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