Leigh Curyer

T.NXE, NexGen Energy, Lee CuryerMr. Curyer has over 20 years experience in the resources and corporate sector. Mr. Curyer is the founder, President & Chief Executive Officer of NexGen Energy Ltd. and was previously the Chief Financial Officer and head of corporate development of Southern Cross Resources (now Uranium One). In addition, for three years Mr. Curyer was Head of Corporate Development for Accord Nuclear Resource Management assessing uranium projects worldwide for First Reserve Corporation, a global energy — focused private equity and infrastructure investment firm.

Mr. Curyer’s uranium project assessment experience has been focused on assets located in Canada, Australia, USA, Africa, Central Asia and Europe, incorporating operating mines, advanced development projects and exploration prospects. While Chief Financial Officer of Southern Cross Resources (now Uranium One), Mr. Curyer managed the exploration, permitting and feasibility study of the Honeymoon Uranium Project in South Australia, ensuring full compliance with NI43-101 reporting. Mr Curyer has raised over $500 million of equity in North America, US, Europe and Australia.

Mr. Curyer is a member of the Institute of Chartered Accountants Australia.

NexGen website

Motherlode’s NexGen page

 

News for Lee,

NexGen 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

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.”

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.

SOURCE NexGen Energy Ltd.

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca, www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, http://www.nexgenenergy.ca

Related Links

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NexGen Intersects High-Grade Mineralization in all Twenty A2 and A3 Targets from the 2019 Feasibility Stage Drilling Program

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity for an additional twenty holes comprising 7,969.5 m from the Company’s Feasibility stage drilling program at our 100% owned, Rook I property in the Athabasca Basin Saskatchewan.

Objective I: Conversion of Indicated Mineral Resources to Measured Category

This current phase of the 2019 drilling program is targeting the A2 and A3 High-Grade Domain mine planning sections at a spacing between 9.0 m and 16.7 m. The target spacing incorporates the results of a geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions based on 189 drill holes, totaling 121,923.15 m, which forms the basis of the Indicated Mineral Resource of 256.6 M lbs at 4.04 % U3O8. All drill holes are collared at a steep inclination, then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional drilling technology.

Highlights:

A2 High-Grade Domains and Sub-zone

  • AR-19-229c2 intersected 46.5 m of total composite mineralization including 12.05 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 86.0 m section (602.0 to 688.0 m);

  • AR-19-229c4 intersected 39.0 m of total composite mineralization including 8.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 m section (578.0 to 666.0 m);

  • AR-19-230c3 intersected 30.5 m of total composite mineralization including 7.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 93.0 m section (564.0 to 657.0 m). Additionally, of the 7.55 m of off-scale mineralization intersected in the hole, 0.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;

  • AR-19-235c1 intersected 43.0 m of total composite mineralization including 7.15 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 93.0 m section (517.0 to 610.0 m). Additionally, of the 7.15 m of off-scale mineralization intersected in the hole, 3.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;

  • AR-19-236c2 intersected 26.0 m of total composite mineralization including 6.35 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 89.0 m section (579.0 to 668.0 m.

A3 High-Grade Domains

  • AR-19-231c2 intersected 48.0 m of total composite mineralization including 5.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 102.0 m section (469.0 to 571.0 m);

  • AR-19-232c3 intersected 26.0 m of total composite mineralization including 5.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 89.0 m section (560.0 to 649.0 m).

Drill hole locations and schematics are shown in Figures 1 to 2, drilling results can be found in Table 1. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Permitting, Appointments, Activities & Financial

  • Expediting Arrow to Feasibility by a 2-stage (10 rig) high density drilling program focused on mine optimization plans based on Measured and Indicated mineral resources.

  • As reported on April 29, 2019, NexGen received acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission (“CNSC”) and the Saskatchewan Ministry of Environment (“MOE”). The acceptance marked the commencement of an Environmental Assessment (“EA”) on the Rook I Project (the “Project”) in accordance with the requirements of both The Environmental Assessment Act (Province of Saskatchewan) and the Canadian Environmental Assessment Act, 2012 “CEAA 2012” (Government of Canada). The EA is being conducted through a coordinated process between the MOE and the CNSC, which is the Federal life-cycle regulator for all uranium mine and mill projects in Canada. 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.

  • The Company also announces the appointments of Gillian McCombie, Vice President Human Resources and Arthur Lieu, MSc., P.Eng., Vice President Processing and Metallurgy.  Gillian brings over 25 years of experience in human resources in the international mining and telecommunications sectors. Gillian most recently as Vice President Human Resources at Capstone Mining and prior to that with Telus and Placer Dome. Arthur joins NexGen having spent 20 years in mine processing and metallurgy.  Most recently, he was the Chief Metallurgist at Cameco’s Rabbit Lake mill and Orano’s McClean Lake mill.  Arthur holds a Bachelor of Science degree in Chemical Engineering and a Master of Science degree in Geochemistry, with a focus on source-term characteristic of uranium waste rock piles at Cameco Key Lake uranium mine. Mr. Lieu is also trained in Lean Six Sigma Black Belt process improvement and optimization. Mr. Lieu is a registered Professional Engineer (P. Eng) with the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS). 

  • The Company had cash-on-hand of approximately $90 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: “These continuing high grade results received from sections of the ore body focused on the mine plan, highlight the extraordinary high grade and robustness of Arrow.  In parallel, the Feasibility-stage engineering, metallurgical and environmental studies are all advancing extremely well, together with permitting and our community programs. I would like to take the opportunity to also welcome Arthur and Gill to the dedicated NexGen team. Two highly experienced and successful professionals in their respective fields joining NexGen at an incredibly exciting time as we begin to see positive signs emerging in the uranium market.”

Troy Boisjoli, Vice-President, Operations and Project Development, commented: “The continuity of mineralization within the high-grade core of Arrow is remarkable and these results highlight the technical advantages at the Arrow Deposit: mineralization hosted within stacked shear system (allowing holes to intersect multiple targets with one drill hole, minimizing total meterage), stable crystalline basement host rock, and extremely high-grades. These high grade results in all twenty holes will be incorporated into an updated Mineral Resource Estimate which will form the basis of the Feasibility Study, scheduled for release in H1 2020.”

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca Group – Basement
Unconformity Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth (m)

From
(m)

To
(m)

Width
(m)

CPS Range

AR-19-225c3

327

-65

283

N/A

452.5

454

1.5

<500 –  46000

481

481.5

0.5

<500 –  800

488

490

2

<500 –  700

494.5

498

3.5

<500 –  1050

501

501.5

0.5

<500 –  1200

586.5

602

15.5

<500 –  61000

610

610.5

0.5

<500 –  550

615.5

618.5

3

<500 –  1800

AR-19-229c1

327

-65

693

132.8

473

475

2

<500 –  1200

480.5

481

0.5

<500 –  600

488.5

489

0.5

1000 –  13000

495

495.5

0.5

<500 –  1240

501

502

1

<500 –  41500

504.5

509

4.5

<500 –  20200

511.5

513

1.5

<500 –  4000

516.5

520

3.5

<500 –  19800

522.5

533

10.5

<500 –  61000

535.5

538.5

3

<500 –  49000

543.5

546.5

3

<500 –  61000

549.5

550

0.5

1230 –  61000

570

570.5

0.5

<500 –  540

628.5

634

5.5

<500 –  61000

638

638.5

0.5

<500 –  610

642

645.5

3.5

<500 –  61000

651

675.5

24.5

<500 –  61000

AR-19-229c2

327

-65

309

N/A

494.5

495

0.5

<500 –  700

500.5

501

0.5

<500 –  2150

505

505.5

0.5

<500 –  680

508

508.5

0.5

<500 –  31000

514

514.5

0.5

<500 –  9400

517.5

519

1.5

<500 –  6000

524.5

525.5

1

<500 –  4000

530

536.5

6.5

<500 –  8590

541.5

542.5

1

580 –  52500

545

545.5

0.5

<500 –  3200

550.5

562.5

12

<500 –  61000

574.5

577

2.5

<500 –  2000

625

671.5

46.5

<500 –  61000

AR-19-229c3

327

-65

240

N/A

494.5

496

1.5

<500 –  14900

502

503

1

<500 –  53300

506.5

507.5

1

<500 –  19500

510

510.5

0.5

<500 –  800

513.5

514

0.5

<500 –  1100

517

518

1

<500 –  12100

522

524.5

2.5

<500 –  2800

529

531

2

<500 –  32600

539.5

541.5

2

<500 –  14100

544.5

549.5

5

<500 –  47900

558

561

3

<500 –  61000

563.5

565

1.5

<500 –  14000

571

573

2

<500 –  2100

579

586

7

<500 –  1500

592.5

594.5

2

<500 –  610

629.5

645.5

16

<500 –  61000

648

651.5

3.5

<500 –  4400

654

680

26

<500 –  61000

683

683.5

0.5

<500 –  1350

705

707

2

<500 –  930

711.5

718

6.5

<500 –  1300

AR-19-229c4

327

-65

465

N/A

404

405.5

1.5

<500 –  600

415.5

416

0.5

<500 –  820

464

466

2

<500 –  3150

471.5

472.5

1

<500 –  2300

480

486.5

6.5

<500 –  61000

489

489.5

0.5

<500 –  1300

494

499

5

<500 –  18600

501.5

505

3.5

<500 –  32000

508.5

510.5

2

<500 –  43000

516.5

531.5

15

<500 –  39000

613.5

652.5

39

<500 –  61000

AR-19-230c1

327

-65

651.5

128.35

499

499.5

0.5

<500 –  4800

502

502.5

0.5

<500 –  1200

515.5

522

6.5

<500 –  3200

524.5

532.5

8

<500 –  1700

566

566.5

0.5

<500 –  550

571

572

1

<500 –  1300

577

598.5

21.5

<500 –  61000

603

605.5

2.5

<500 –  1200

608

608.5

0.5

<500 –  1650

611

611.5

0.5

<500 –  1160

622

628.5

6.5

<500 –  1800

631.5

632

0.5

<500 –  6600

AR-19-230c2

327

-65

252.5

N/A

484

484.5

0.5

<500 –  750

496.5

501

4.5

<500 –  50200

522.5

523

0.5

<500 –  575

552

556.5

4.5

<500 –  740

559

563

4

<500 –  1400

570.5

572

1.5

<500 –  620

586

609.5

23.5

<500 –  61000

613.5

614.5

1

<500 –  3200

617

618

1

<500 –  750

621.5

630

8.5

<500 –  15600

636

636.5

0.5

<500 –  970

AR-19-230c3

327

-65

234

N/A

458

458.5

0.5

<500 –  1030

461.5

463.5

2

<500 –  820

474.5

475

0.5

<500 –  680

487

487.5

0.5

<500 –  910

504

504.5

0.5

<500 –  1030

521.5

524

2.5

<500 –  730

561.5

562.5

1

<500 –  1310

567.5

568

0.5

<500 –  510

592

614.5

22.5

<500 –  61000

619.5

623.5

4

<500 –  1280

626.5

628.5

2

<500 –  14500

654.5

655

0.5

<500 –  540

AR-19-231c1

327

-65

564.5

138

466

470.5

4.5

<500 –  14000

487.5

488

0.5

<500 –  500

497

505

8

<500 –  46000

510.5

511

0.5

<500 –  900

515.5

528

12.5

<500 –  58000

AR-19-231c2

327

-65

222.5

N/A

467.5

472.5

5

<500 –  38000

480.5

481

0.5

500 –  7500

485

488

3

<500 –  2700

491

493.5

2.5

<500 –  3100

498.5

499

0.5

500 –  6200

505.5

546.5

41

<500 –  61000

555

555.5

0.5

<500 –  770

AR-19-231c3

327

-65

261.5

N/A

505.5

506

0.5

<500 –  2100

509

523.5

14.5

<500 –  61000

527

528

1

<500 –  650

535.5

557

21.5

<500 –  61000

559.5

560.5

1

<500 –  1400

567.5

568

0.5

<500 –  560

571

571.5

0.5

<500 –  1100

AR-19-232c1

327

-65

642.5

138.8

211.5

212

0.5

<500 –  650

477.5

481.5

4

<500 –  2200

485.5

486.5

1

<500 –  600

493

494

1

<500 –  1700

506.5

507.5

1

<500 –  1450

517

520

3

<500 –  12000

534

537

3

<500 –  24000

544

544.5

0.5

2200 –  51000

548

552

4

<500 –  5300

563.5

565

1.5

<500 –  44000

568

570

2

<500 –  5700

574

574.5

0.5

<500 –  1800

577

577.5

0.5

<500 –  680

580.5

598

17.5

<500 –  23000

601

604

3

<500 –  3600

607.5

609.5

2

<500 –  1200

AR-19-232c2

327

-65

278.5

N/A

454.5

458

3.5

<500 –  2100

486

486.5

0.5

<500 –  660

492

495

3

<500 –  960

516

518.5

2.5

<500 –  7500

531.5

534.5

3

<500 –  14100

539.5

540

0.5

<500 –  5700

550

553

3

<500 –  61000

556

556.5

0.5

<500 –  1350

560.5

564

3.5

<500 –  39000

571

571.5

0.5

<500 –  720

574.5

594

19.5

<500 –  14200

599.5

600

0.5

<500 –  860

AR-19-232c3

327

-65

294.5

N/A

473

473.5

0.5

<500 –  620

483.5

484

0.5

<500 –  840

492

493.5

1.5

<500 –  2100

504.5

505.5

1

<500 –  960

519.5

520

0.5

<500 –  600

530

531.5

1.5

<500 –  31000

552

560.5

8.5

<500 –  61000

563

569.5

6.5

<500 –  17200

572

575.5

3.5

<500 –  15700

580.5

581

0.5

<500 –  690

589

592

3

<500 –  54600

599

599.5

0.5

<500 –  840

606

617.5

11.5

<500 –  61000

620

620.5

0.5

<500 –  1900

AR-19-233c3

327

-65

276.5

N/A

451

456.5

5.5

<500 –  980

459

466

7

<500 –  1500

468.5

469

0.5

<500 –  550

483

490

7

<500 –  43700

498.5

510.5

12

<500 –  17200

514

517.5

3.5

<500 –  1700

520.5

523.5

3

<500 –  3200

536.5

540

3.5

<500 –  1600

542.5

543

0.5

<500 –  600

AR-19-234c1

327

-65

522

127.5

472

491

19

<500 –  61000

AR-19-234c2

327

-65

177

N/A

471.5

503.5

32

<500 –  61000

AR-19-235c1

327

-65

620

132.7

425.5

427

1.5

<500 –  950

440.5

441.5

1

<500 –  4500

452.5

453.5

1

<500 –  660

456.5

462

5.5

<500 –  1300

478.5

479

0.5

<500 –  1400

492.5

509.5

17

<500 –  4500

526

526.5

0.5

<500 –  1200

534

534.5

0.5

<500 –  520

547.5

548

0.5

<500 –  510

563

585

22

<500 –  61000

588.5

590.5

2

<500 –  36000

605.5

606

0.5

<500 –  550

AR-19-236c1

327

-65

660.5

133.95

465

466.5

1.5

<500 –  17500

478.5

479

0.5

<500 –  510

500.5

501

0.5

<500 –  2200

503.5

504

0.5

<500 –  1060

515.5

521.5

6

<500 –  27500

525

525.5

0.5

510 –  1050

529.5

530

0.5

<500 –  630

586.5

587

0.5

<500 –  530

597

597.5

0.5

<500 –  780

600.5

619.5

19

<500 –  61000

624

624.5

0.5

<500 –  850

628.5

629.5

1

<500 –  1200

633.5

634

0.5

<500 –  760

637.5

642

4.5

<500 –  1650

660

660.5

0.5

<500 –  1070

AR-19-236c2

327

-65

321.5

N/A

457

457.5

0.5

<500 –  5000

465

465.5

0.5

<500 –  1170

468.5

469

0.5

<500 –  2650

472.5

474

1.5

<500 –  1300

478

478.5

0.5

<500 –  510

486.5

487.5

1

<500 –  3330

494

494.5

0.5

<500 –  1100

497

497.5

0.5

<500 –  710

502

502.5

0.5

<500 –  1330

509

519

10

<500 –  3770

522.5

530

7.5

<500 –  8900

573

573.5

0.5

<500 –  520

588

589

1

<500 –  610

600

601

1

<500 –  800

608.5

609

0.5

<500 –  510

613

617.5

4.5

<500 –  61000

621

629.5

8.5

<500 –  61000

639

642

3

<500 –  5700

645

650.5

5.5

<500 –  7700

653.5

654

0.5

<500 –  510

669.5

671

1.5

<500 –  5200

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

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.

SOURCE NexGen Energy Ltd.

For further information: Contact Information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca, www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, http://www.nexgenenergy.ca

http://www.nexgenenergy.ca/

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Canada’s Nuclear Summer

There is a lull in the precious metals junior markets and it makes sense for investors to look at a few of the alternatives out there. One of which is nuclear energy.

The world’s demand for electricity is steadily growing. In particular, countries such as India and China are building electrical generation capacity to meet their economy’s demands. While much of that new capacity is being built with modern coal technology, increasingly electricity hungry countries are deploying nuclear power.

Nuclear power has two huge advantages: it is reliable and it does not create either air pollution or CO2 emissions.

The big disadvantages of nuclear power are cost and safety (both real and imagined.) The safety issues have largely been resolved to the satisfaction of governments in places like India, China and Korea. Cost, however, can still be a significant issue. Modern reactor design – both at the large scale and, increasingly, at smaller scales – is addressing the cost issues with techniques like standardization and factory construction. The regulatory schemes in many countries are being designed with efficiency and certainty in mind. All of which reduces the perceived risks of nuclear power and make it significantly less costly to finance.

Running a reactor is relatively inexpensive provided that there is an assured source of fuel – almost always uranium and a high purity moderator – often graphite – is available.

On the uranium side, world demand and supply have been in rough balance for several decades. However, for principally economic reasons, a number of the world’s uranium mines have been shut or put in care and maintenance in the last few years.

As new reactors come online more uranium needs to be mined and the best place in the world to find that uranium is the Athabasca Basin in Saskatchewan. As NexGen Energy (T.NXE) puts it on their website, “The Athabasca Basin is home to the richest endowment of uranium on Earth.”

NexGen has begun the Environmental Assessment process on its Rook 1 Project in the Athabasca. This is a critical step in the process of building a mine at the site.

That assessment will take into account NexGen’s innovative plan to store the tailings of Rook 1 underground thereby reducing the surface footprint of the mine and its environmental impact. A critical consideration given the sheer size of the proposed mine.

At an earlier stage in the discovery process, we have Skyharbour Resources (V.SYH) which has assembled a portfolio of highly prospective properties in the Athabasca Basin and an ensemble of joint venture partners.

Skyharbour has adopted the project generator model which allows it to join with other exploration companies to “work up” properties which it owns. This means that Skyharbour can advance several projects at once while retaining a healthy treasury.

Where NexGen is proceeding to build a uranium mine, Skyharbour is finding the next uranium mine in the Athabasca.

But what about graphite? While most of the excitement around graphite has focussed on batteries graphite is also vital to the nuclear world. However, the graphite required for nuclear reactor moderators has to be very, very pure. Even traces of other elements can ruin “nuclear graphite”.

For a variety of reasons, most nuclear graphite has come from synthetic rather than natural sources. The essential problem being that natural graphite often has impurities which are difficult and expensive to extract.

Synthetic graphite is a man-made substance manufactured by the high-temperature processing of amorphous carbon materials. The primary material used to manufacture synthetic graphite is petroleum coke. Petroleum coke, or pet coke, is the solid carbon residue that remains after the coking process is performed on petroleum residue. The bulk of synthetic graphite has been produced in China however, the Chinese are reducing production because of the really nasty environmental costs associated with that production.

This has left a gap in the market for really high grade, natural, graphite. There are some natural deposits of graphite which have very low levels of impurity and which can be cheaply and effectively upgraded to the .9999 purity required in reactors.

One of those deposits is Canada Carbon’s (V.CCB) Miller hydrothermal lump-vein deposit in Quebec and is being tested as I write. In the next while, the results of those tests will come back and, if the preliminary results are any indication, Canada will have a new, strategic, resource.

The testing is critical because if Canada Carbon’s graphite checks out as nuclear graphite it will have a worldwide market. A market in which high purity graphite sells for super premium rates. Think USD $40,000 per ton.

So, for investors suffering from precious metals fatigue and wary of the Wild West in cannabis, companies like NexGen, Skyharbour and Canada Carbon are worth a look.

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NexGen Intersects Continuous and Strong High-Grade Mineralization in all of the Initial A2 Sub-Zone Targets from Feasibility Stage Drilling

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity results for the first twenty holes comprising 8,216.5 m from the Company’s first phase of Feasibility-stage drilling program at our 100% owned, Rook I property in the Athabasca Basin Saskatchewan.

Highlights:

Objective I: Conversion of Indicated to Measured in the A2 Sub-Zone

Nineteen targets have been successfully intersected within the A2 Sub-Zone. This current phase of the program focuses on targets intersected at a spacing between 9.0 m and 16.7 m (based on geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions) for Indicated Mineral Resources to be elevated to a Measured Mineral Resource classification.  All drill holes intersected the target between -55° and -60° utilizing the latest in directional drilling technology.

The highlights below include composite and off-scale radioactivity results from the A2 Shear only, for radioactivity results for the entire hole see Table 1: Arrow Deposit Drill Hole Data.

  • AR-19-225c1 intersected 38.0 m of total composite mineralization including 10.15 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 91.0 m section (529.0 to 620.0 m) in the A2 Sub-Zone. Additionally, of the 10.15 m of off-scale mineralization intersected in the hole 7.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-224c1 intersected 37.5 m of total composite mineralization including 10.8 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 97.0 m section (496.0 to 593.0 m) in the A2 Sub-Zone. Additionally, of the 10.8 m of off-scale mineralization intersected in the hole 4.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-224c2 intersected 47.0 m of total composite mineralization including 12.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 98.0 m section (453.0 to 551.0 m) in the A2 Sub-Zone. Additionally, of the 12.55 m of off-scale mineralization intersected in the hole 3.0 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-225c2 intersected 35.0 m of total composite mineralization including 11.05 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 92.0 m section (540.0 to 632.0 m) in the A2 Sub-Zone. Additionally, of the 11.05 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-19-223c2 intersected 43.5 m of total composite mineralization including 5.5 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 97.0 m section (486.0 to 583.0 m) in the A2 Sub-Zone. Additionally, of the 5.5 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-19-227c2 intersected 54.0 m of total composite mineralization including 9.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 98.0 m section (419.0 to 517.0 m) in the A2 Sub-Zone. Additionally, of the 9.75 m of off-scale mineralization intersected in the hole 0.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-228c1 intersected 36.0 m of total composite mineralization including 4.25 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 87.0 m section (569.0 to 656.0 m) in the A2 Sub-Zone. Additionally, of the 4.25 m of off-scale mineralization intersected in the hole 0.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.
  • AR-19-226c1 intersected 46.0 m of total composite mineralization including 6.4 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 100.0 m section (447.0 to 547.0 m) in the A2 Sub-Zone.
  • AR-19-233c2 intersected 49.0 m of total composite mineralization including 9.45 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 99.0 m section (414.0 to 513.0 m) in the A2 Sub-Zone.

Drill hole locations and schematics are shown in Figures 1 and 2. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Activities & Financial

  • Expediting Arrow to Feasibility by initiation of a 2-stage 125,000m (10 rig) high density drilling program that commenced in mid-December 2018 to focus on mine optimization plans based on Measured and Indicated mineral resources.
  • The Company has approximately $100 million in the treasury which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: “This development focused drilling continually highlights the incredible nature and strength of Arrow in terms of the continuity of high grade uranium.  Intersecting the type of mineralization reported in today’s release with such regularity is simply unique and continually increases the technical strength of Arrow.  We look forward to delivering the results of the 10 rig program throughout 2019.”

Troy Boisjoli, Vice-President, Operations and Project Development, commented: “These results demonstrate the confidence in the continuation of high-grade uranium mineralization within the A2 Sub-Zone. This initial release is just the beginning of what will surely be another highly successful 2019 program as the Company moves towards completing the Feasibility Study which will incorporate an updated mineral resource estimate based on the 2019 drill campaign which is the largest in the Company’s history.”

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca Group –
Basement Unconformity
Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From
(m)

To
(m)

Width
(m)

CPS Range

AR-19-221c1

327

-65

576

129.5

432.5

433.5

1

<500 –  990

442.5

446

3.5

<500 –  1100

448.5

449

0.5

<500 –  620

478.5

479.5

1

<500 –  580

485

486

1

<500 –  780

495.5

497.5

2

<500 –  1340

506.5

507

0.5

<500 –  670

511

517.5

6.5

<500 –  2200

524.5

549

24.5

<500 –  61000

554.5

555

0.5

<500 –  1180

AR-19-221c2

327

-65

597.5

N/A

426.5

430.5

4

<500 –  2100

437.5

438

0.5

<500 –  680

484

484.5

0.5

<500 –  1100

495.5

501

5.5

<500 –  1000

506

522.5

16.5

<500 –  1500

540

559.5

19.5

<500 –  61000

562

562.5

0.5

<500 –  1200

591.5

592

0.5

<500 –  550

AR-19-222c1

327

-65

597.5

133.45

401.5

404

2.5

<500 –  1400

422

425.5

3.5

<500 –  2600

437.5

439

1.5

<500 –  10800

447

447.5

0.5

<500 –  1000

450.5

482

31.5

<500 –  7400

494.5

551

56.5

<500 –  61000

557.5

559

1.5

<500 –  3720

577

577.5

0.5

<500 –  560

AR-19-222c2

327

-65

594

N/A

412.5

413

0.5

<500 –  1100

417.5

418

0.5

<500 –  2800

433

437.5

4.5

<500 –  1350

443.5

453.5

10

<500 –  32000

456

457.5

1.5

<500 –  2100

461.5

463

1.5

<500 –  3000

466

471

5

<500 –  6900

474.5

478

3.5

<500 –  1600

480.5

490

9.5

<500 –  1150

492.5

493

0.5

<500 –  1250

497

523

26

<500 –  61000

528.5

538.5

10

<500 –  37000

543.5

546.5

3

<500 –  18600

AR-19-223c1

327

-65

588

133.6

435

438.5

3.5

<500 –  1300

446

449.5

3.5

<500 –  2700

453

460

7

<500 –  6900

464.5

468

3.5

<500 –  3800

474

476.5

2.5

<500 –  1400

485.5

486

0.5

900 –  1280

490

495.5

5.5

<500 –  5500

498.5

503.5

5

<500 –  1380

509.5

519.5

10

<500 –  3000

522.5

528.5

6

<500 –  1300

532

549

17

<500 –  61000

553

556.5

3.5

<500 –  3800

559

560.5

1.5

<500 –  4300

569

570.5

1.5

<500 –  1600

AR-19-223c2

327

-65

615.5

N/A

434.5

438

3.5

<500 –  640

444.5

446

1.5

<500 –  1000

451.5

453

1.5

<500 –  1700

455.5

462

6.5

<500 –  17000

466.5

467.5

1

<500 –  2800

473

475

2

<500 –  740

479

483.5

4.5

<500 –  560

488

491

3

<500 –  1500

499

502

3

<500 –  1000

508.5

515

6.5

<500 –  3300

539.5

552.5

13

<500 –  61000

555

558

3

<500 –  34200

565

572

7

<500 –  31000

574.5

576

1.5

<500 –  870

AR-19-223c3

327

-65

586.5

N/A

417.5

418

0.5

<500 –  700

425

426

1

<500 –  920

435

444.5

9.5

<500 –  6900

452

459.5

7.5

<500 –  3300

462.5

465

2.5

<500 –  1100

468.5

470.5

2

<500 –  660

473

476

3

<500 –  5300

485

490.5

5.5

<500 –  2400

493

495

2

<500 –  1450

498.5

517.5

19

<500 –  7000

520

523.5

3.5

<500 –  1000

527

551

24

<500 –  61000

559.5

566

6.5

<500 –  61000

570.5

573

2.5

<500 –  670

AR-19-224c1

327

-65

597.5

129.45

404

404.5

0.5

<500 –  640

443.5

446.5

3

<500 –  1100

449

449.5

0.5

<500 –  1080

452

452.5

0.5

<500 –  640

455

456

1

<500 –  2050

465

465.5

0.5

<500 –  1370

469.5

473.5

4

<500 –  1650

497.5

500.5

3

<500 –  820

503

506.5

3.5

<500 –  1040

510

511

1

<500 –  540

524.5

525

0.5

<500 –  560

530

533

3

<500 –  710

536.5

538

1.5

<500 –  2340

543.5

544.5

1

<500 –  1270

548

551

3

<500 –  3610

554.5

575.5

21

<500 –  61000

AR-19-224c2

327

-65

612.5

N/A

441

442.5

1.5

<500 –  1850

445

447.5

2.5

<500 –  1220

450

453.5

3.5

<500 –  2350

470

470.5

0.5

<500 –  520

476

478.5

2.5

<500 –  4100

494

503

9

<500 –  2800

518

518.5

0.5

<500 –  600

524

524.5

0.5

<500 –  530

538

571.5

33.5

<500 –  61000

582

585.5

3.5

<500 –  13000

AR-19-225c1

327

-65

627.5

128.7

474

474.5

0.5

<500 –  630

494.5

495

0.5

<500 –  520

501

505

4

<500 –  4500

520.5

525

4.5

<500 –  1280

531

531.5

0.5

<500 –  980

545

546

1

<500 –  1180

566.5

598.5

32

<500 –  61000

AR-19-225c2

327

-65

636.5

N/A

473.5

474.5

1

<500 –  900

479.5

480.5

1

<500 –  2000

563.5

593.5

30

<500 –  61000

596

598

2

<500 –  21000

602

605

3

<500 –  650

AR-19-226c1

327

-65

564.5

131.5

446.5

447

0.5

<500 –  740

457

468.5

11.5

<500 –  1350

472.5

473.5

1

<500 –  2040

482.5

483

0.5

<500 –  560

491.5

503.5

12

<500 –  2240

506

508.5

2.5

<500 –  3540

512.5

527.5

15

<500 –  61000

536.5

539.5

3

<500 –  9300

AR-19-226c1a

327

-65

177

144.15

No Anomalous Radioactivity

AR-19-226c2

327

-65

567

N/A

453.5

454

0.5

<500 –  740

457.5

458

0.5

<500 –  600

463

466.5

3.5

<500 –  730

474.5

475

0.5

<500 –  510

489.5

492

2.5

<500 –  860

497.5

522.5

25

<500 –  61000

527.5

528.5

1

<500 –  1050

547

548

1

<500 –  2200

AR-19-227c1

327

-65

525.5

138.3

442

442.5

0.5

<500 –  680

445

446.5

1.5

<500 –  1200

463

502.5

39.5

<500 –  61000

AR-19-227c2

327

-65

540.5

N/A

439

439.5

0.5

<500 –  720

454.5

455

0.5

<500 –  860

460

508.5

48.5

<500 –  61000

513

517.5

4.5

<500 –  22000

AR-19-228c1

327

-65

663.5

134

249

249.5

0.5

<500 –  750

458

477.5

19.5

<500 –  23000

480

483.5

3.5

<500 –  3510

487

487.5

0.5

<500 –  3300

492

492.5

0.5

<500 –  1750

505

505.5

0.5

<500 –  800

512

523.5

11.5

<500 –  55300

551

551.5

0.5

<500 –  650

575.5

581

5.5

<500 –  1130

600.5

603

2.5

<500 –  590

605.5

624.5

19

<500 –  61000

629.5

632.5

3

<500 –  61000

635

638

3

<500 –  680

646.5

649

2.5

<500 –  890

660

660.5

0.5

<500 –  700

AR-19-228c2

327

-65

672.5

N/A

459.5

469.5

10

<500 –  40000

472

476

4

<500 –  4400

478.5

481.5

3

<500 –  1500

509.5

510.5

1

<500 –  9600

515

534

19

<500 –  50000

598

599

1

<500 –  750

602

603

1

<500 –  970

605.5

610

4.5

<500 –  1300

616.5

627

10.5

<500 –  61000

630

634

4

<500 –  8500

638

639

1

<500 –  1600

641.5

654.5

13

<500 –  53000

658.5

659.5

1

<500 –  700

AR-19-233c1

327

-65

534.5

133.7

447.5

450.5

3

<500 –  3300

453.5

491.5

38

<500 –  61000

495.5

501.5

6

<500 –  920

AR-19-233c2

327

-65

537.5

N/A

457

465

8

<500 –  2000

467.5

481.5

14

<500 –  61000

484

510.5

26.5

<500 –  61000

522.5

523

0.5

<500 –  920

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
  • Hole AR-19-226c1a was terminated due to deviation in the overburden

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 in the Athabasca Basin, Saskatchewan, Canada and a portfolio of prospective uranium exploration projects throughout northwest Saskatchewan. 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.

SOURCE NexGen Energy Ltd.

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca; www.nexgenenergy.ca

Related Links

www.nexgenenergy.ca

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NexGen Announces Appointment of Brad Wall, the Former Premier of Saskatchewan, to its Board of Directors

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, NYSE MKT:NXE) is pleased to announce the appointment of former Saskatchewan Premier Mr. Brad Wall to the Company’s Board of Directors. This appointment coincides with the retirement from the NexGen Board of Craig Parry, Chief Executive Officer of IsoEnergy and founding member of the Board of Directors at NexGen, who is moving onto the Technical Advisory Committee.

Leigh Curyer, Chief Executive Officer, commented: “On behalf of the Executive and Board of NexGen we are very pleased to welcome Mr. Brad Wall. Mr. Wall brings to NexGen extensive national energy policy, political and economic experience and has demonstrated a very strong commitment, results and advocacy in the best interests of Saskatchewan and Canada over his entire career. Mr Wall in his capacity as a director to NexGen is joining a team dedicated to developing a Canadian energy project that will deliver significant generational benefits to Saskatchewan and Canada and set new standards in responsible project development.

I would also like to take the opportunity to thank Craig Parry, one of our founding Directors, for his dedication and support during his tenure as a director. In his capacity as Chief Executive Officer of IsoEnergy, which recently made a significant uranium discovery, we look forward to Craig’s continued valuable contribution to the group as he primarily focuses his efforts on the exciting Hurricane Zone with NexGen being a significant long-term shareholder.”

Brad Wall

As the 14th Premier of Saskatchewan, Mr. Wall brings to NexGen’s Board political experience spanning over a 20 year period. During his tenure as Premier, Mr. Wall led the province to unprecedented economic expansion, strong population and export growth, record infrastructure investment and the first ever and continuing AAA credit for the Province’s finances.  Mr. Wall worked successfully with the previous federal government to achieve nuclear cooperation agreements between Canada and both India and China opening up those civilian nuclear energy markets to Canadian uranium.  He is an advocate for sustainable, inclusive economic development and provides strategic insight to the energy sector.

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 in the Athabasca Basin, Saskatchewan, Canada and a portfolio of prospective uranium exploration projects throughout northwest Saskatchewan. 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 2, 2018 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.

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, www.nexgenenergy.ca

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Wayback Machine: Doug Beattie on NexGen

Back in 2015 Doug Beattie, Cameco’s former chief mining engineer did an interview about NexGen.

“The geometry at Arrow is excellent. Underground mining engineers pray for vertical ore bodies and this is present at Arrow. I have only seen the core photos that NexGen has published on their website and the core looks reasonable. Small stopes similar to Eagle Point are likely in order.

With respect to raiseboring of the high grade, there are multiple ways to attack this geometrically. McArthur River is constrained by the location of the water-bearing sandstone but, being so far down in the basement rock at Arrow, this should not be an issue. No ground freezing is used at Eagle Point and I expect that to be the case at Arrow.” mining.com

Nothing really has changed except that NexGen had drilled a lot more holes to confirm the resource and come up with a cost-effective mine plan. Read the whole thing.

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NexGen Commences 125,000 m Feasibility Stage Drilling Program and Technical Studies at the Arrow Deposit

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE, NYSE MKT: NXE) is pleased to announce that the largest drill program in the Company’s history focused on optimizing mine development has begun at our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan. The drill program results will be incorporated into a NI43-101 Bankable Feasibility Study (“FS” or the “Study”), building on the successful outcomes highlighted in the Company’s Pre-Feasibility Study (“PFS”) (see News Release dated November 5, 2018) which demonstrated the Arrow Project to be an exceptional development opportunity for NexGen, Saskatchewan and Canada.

The development optimization program consists of a minimum 125,000 m using 10 diamond drill rigs focusing on three objectives:

  1. Convert High Grade Indicated Mineral Resources to Measured Mineral Resources: Approximately 71,000 m will be drilled at a spacing sufficient to support the conversion of the currently defined high-grade (“HG”) Indicated Resource (currently 256.6 M lbs of U3O8 contained in 2.89 M tonnes grading 4.03% U3O8) to Measured Resource. Measured Mineral Resources represent the highest level of mineral resource estimate, providing a significant amount of technical detail on the FS mine plan, design and economics.
  2. Covert Inferred Mineral Resources to Indicated Mineral Resources: Approximately 54,000 m will be drilled to support the conversion of part of the currently defined Inferred Resource (currently 91.7 M lbs of U3O8 contained in 4.84 M tonnes grading 0.86% U3O8) to an Indicated Resource. Further conversion of Inferred to Indicated Mineral Resources will optimise the usable mineral inventory for the FS mine plan which can only incorporate Indicated or higher classification resources in compliance with the NI 43-101 guidelines.  Given the strong continuity of mineralization seen at Arrow, the conversion of Inferred to Indicated resources since delineation drilling commenced has been very efficient and predictable.
  3. Geotechnical and Hydrogeological Characterization: Approximately 12,500 m of the 125,000 m will also incorporate the geotechnical and hydrogeological characterization of the rock mass in the areas of potential mine development and Underground Tailings Management Facility (“UGTMF”).  This additional analysis will build upon the significant geotechnical, hydrogeological and metallurgical testing that has been incorporated into the PFS.

The 125,000 m of drilling outlined above will be added to the existing 296,000 m of drill data collected to date by NexGen to form the basis of an FS which will incorporate an updated Mineral Resource Estimate and scheduled for release in H1/2020.  The FS will increase design detail to a resolution necessary to support at a minimum a Class 3 cost estimate (AACE International standard). The objectives of the FS are as follows:

  • Further optimization of the proposed development of the Arrow Deposit with respect to mine design (stope layouts, development, and production schedule) based on only Measured and Indicated mineral resources,
  • Defining a level of design to support the comprehensive Environmental Assessment applications,
  • Engaging with construction experts to optimize construction sequencing, utilization of pre-fabrication, offsite module assembly, and identify alternative opportunities to advance project development timelines,
  • Continuing the advancement of the UGTMF design to optimize tailings density and further reduce tailings volumes enabling the opportunity to minimize the surface footprint of the mine,
  • Leveraging opportunities for capital cost optimization while increasing confidence in the capital and operating cost estimates,
  • Integrating innovative but proven mining, milling and environmental technologies and sustainable practices including the evaluation of alternative energy solutions to further increase NexGen’s sustainability commitment.

Drilling program target areas can be found in the figures 1 and 2.

Financial

  • The Company has cash on hand of approximately ~$110 million.

Leigh Curyer, President and Chief Executive Officer, commented: “This year’s drill program will be the largest in the Company’s history to date, and reportedly, in Canada for a uranium project in 2019. The team has focused considerable effort into the planning of the drill program and technical studies, which leverages our experience in optimizing mine development, processing and elite environmental management practices. With the opening this week of the new Saskatoon project office, which has been designed at a capacity to take NexGen through to reaching its objective of becoming a major producer of uranium on the world stage, it is very exciting times for the NexGen team and Saskatchewan.”

Troy Boisjoli, Vice-President, Operations and Project Development, commented: “The technical characteristics of the Arrow deposit has allowed for rapid growth and increased confidence through each successive drill program. This is an exciting time at NexGen, focussing on continued advancement of the Arrow deposit through the requisite development stages.”

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. NexGen is the recipient of the PDAC’s 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

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. Cox, P.Eng., David M. Robson, P.Eng., M.B.A., Mark B. Mathisen, C.P.G., David A. Ross M.Sc., P.Geo., Val Coetzee, M.Eng., Pr.Eng., and Mark Wittrup, M.Sc., P.Eng.,P.Geo. 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. A technical report in respect of the PFS will be filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) within 45 days from the date of the PFS  news release (November 5th, 2018) 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.

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.

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.

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.

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112 lcuryer@nexgenenergy.ca, www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, http://www.nexgenenergy.ca

Related Links

www.nexgenenergy.ca

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NexGen Releases Project Development-Focused Summer 2018 Drilling Results

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE, NYSE MKT: NXE) is pleased to report geotechnical and radioactivity results for twenty-nine holes comprising 20,482.31 m on the Company’s 100% owned Rook I property, in the Athabasca Basin, Saskatchewan. The primary objective of the program was the geotechnical characterization of areas within Arrow’s footwall, lateral development and potential underground infrastructure locations of which results were incorporated into the Pre-Feasibility Study (“PFS”) released on November 5th, 2018. The exploration results of this release which encountered strong mineralized intervals in key areas were not incorporated into the updated Mineral Resource Estimate and PFS results, released on November 5, 2018.

<!– assetTag:

–> <!– image and imageTag: Figure 1: Arrow Deposit Drilling Locations (CNW Group/NexGen Energy Ltd.) –> <!– assetTag:

–> <!– image and imageTag: Figure 2: Shaft Pilot Holes with Arrow Mine Design (CNW Group/NexGen Energy Ltd.) –> <!– assetTag:

–> <!– image and imageTag: Figure 3: A2 Geotechnical Characterization Holes (CNW Group/NexGen Energy Ltd.) –> <!– assetTag:

–> <!– image and imageTag: Figure 4: Footwall Geotechnical Characterization Holes (CNW Group/NexGen Energy Ltd.) –>

Highlights:

Geotechnical Characterization of the A2 Sub-Zone

Two holes drilled to geotechnically characterize the rock mass within the A2 sub-zone, underwent dedicated geotechnical logging and packer tests throughout the ore zone to obtain data and analysis of sub-surface conditions within the mine plan. Both holes were collared at a steep inclination, then shallowed out to a dip of approximately 57°.

  • GAR-18-016 intersected 38.5 m of total composite mineralization including 10.7 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 75 m section (552.0 to 627.0 m) and featured 1.5 m of continuous massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps.

Geotechnical Characterization of the Footwall

Holes targeting the footwall successfully characterized the geotechnical and hydrogeological conditions of the rock-mass proximal to the potential mine infrastructure and Underground Tailings Management Facility (“UGTMF”). Additionally, drilling focused on the sterilization of uranium mineralization within areas that will host project development infrastructure and were all geotechnically logged incorporating packer tests at regular intervals.

  • Holes drilled within the footwall of Arrow, in areas of envisioned underground mine infrastructure intersected suitable rock-mass and hydraulic conductivity to facilitate underground development.
  • Similarly, holes drilled within the proximity of the UGTMF positively indicated the area contains suitable rock-mass and low hydraulic conductivity to facilitate underground development.
  • Importantly, negligible alteration and structure were intersected in proximity of envisioned underground mine infrastructure and UGTMF.

Shaft Pilot Hole Program

Three shaft pilot holes were successfully completed to a depth of between 650 m and 702 m. The vertically drilled shaft holes were kept within a 3.0 m radius from surface through to their termination depths, intersected minimal structure and showed low hydraulic conductivity throughout via packer testing at regular intervals.

  • GAR-18-010 targeted shaft location option 1. The hole was successfully completed to a depth of 650 m, intersecting minimal structure within proximity of targeted area in the footwall. A total of 6.0 m of composite uranium mineralization was intersected (549.0 m to 550.0 m) with a maximum radioactivity of 3,900 cps.
  • GAR-18-013 targeted shaft location option 2. The hole was successfully completed to a depth of 650 m. Preliminary results indicate the area contains suitable rock-mass and low hydraulic conductivity to facilitate future shaft design.
    • A Westbay Water Monitoring System was installed after the hole was completed to allow for continued sampling of the proposed shaft location.
  • GAR-18-015 targeted shaft location option 3. The hole was successfully completed to a depth of 702 m, intersecting minimal structure within designed underground mine infrastructure. Preliminary results indicate the area contains suitable rock-mass and low hydraulic conductivity to facilitate a future shaft design.

Exploration, A2 High-Grade Domain

Drilling focused on an under-explored area to the northeast boundary of the currently defined A2 high-grade domain at variable elevations. Drilling resulted in the identification of mineralization between the A2 and A3 shears as well as demonstrating the continuity of high-grade mineralization beyond the currently defined A2 high-grade domains.

  • AR-18-220c1 (located 50 m along strike to the northeast of AR-14-30 (10.32% U3O8 over 46.0 m)) intersected 55.5 m of total composite mineralization including 2.25 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 109.5 m section (438.5 to 548.0 m) in the A2 shear. The hole demonstrates the continuity of high-grade mineralization beyond the currently defined A2 high-grade domains in the A2 shear.

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

Leigh Curyer, Chief Executive Officer, commented: “The successful completion of the geotechnical and hydrogeological drilling was highly positive and reflected in the Arrow Project PFS released on November 5, 2018. In addition, the exploration results  at Arrow this last summer continue to provide strong upside with respect to areas of potential future resource growth. These results have positively set the foundation for our largest campaign to date at Arrow – a two staged 125,000 m drill program commencing mid-December 2018 through to Q3 2019. The results of this program will then be incorporated into a Feasibility Study scheduled to be released in H1 2020.”

Troy Boisjoli, Vice-President, Operations and Project Development, commented: “The Summer 2018 drill program demonstrated the highly competent geotechnical chartateristics of the Arrow deposit. The team is looking forward to the approaching 125,000 m drill program to further advance and optimize Arrow’s potential mine development profile. Further, the high grade mineralization encountered northeast of the A2 High Grade Domain is a great result providing additional areas to test in the future for potential resource growth.”

Development, Activities & Financial

  • Expediting Arrow to Feasibility by initiating a 2-stage 125,000m (10 rig) high density drilling program commencing in mid-December 2018 to focus on mine optimization plans based on Measured and Indicated mineral resources.
  • As of October 31, 2018, the Company had cash-on-hand of approximately $125 million which fully funds NexGen for all programs throughout 2019.

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-18-210c1

327

-70

876.50

115.00

606.50

607.00

0.50

<500 –  1710

AR-18-210c2

327

-70

957.50

N/A

584.50

585.00

0.50

<500 –  510

AR-18-210c3

327

-70

946.00

N/A

No Anomalous Radioactivity

AR-18-211c1

327

-70

1128.50

N/A

865.50

866.00

0.50

<500 –  1300

     

869.50

870.00

0.50

<500 –  610

     

876.00

876.50

0.50

<500 –  570

     

961.50

962.00

0.50

<500 –  650

     

1089.00

1089.50

0.50

<500 –  650

AR-18-211c2

327

-70

1014.50

N/A

660.50

661.00

0.50

<500 –  680

AR-18-211c3

327

-70

1063.50

N/A

No Anomalous Radioactivity

AR-18-212c1

325

-67

807.50

97.70

No Anomalous Radioactivity

AR-18-213c1

327

-65

765.50

98.85

No Anomalous Radioactivity

AR-18-214c1

327

-65

891.50

111.00

157.00

161.50

4.50

<500 –  4250

     

337.00

337.50

0.50

<500 –  970

AR-18-215c1

327

-70

990.50

N/A

No Anomalous Radioactivity

AR-18-216c1

327

-65

483.50

107.40

No Anomalous Radioactivity

AR-18-217c1

327

-73.5

1233.50

122.50

910.00

910.50

0.50

<500 –  560

     

965.00

966.00

1.00

610 –  20000

     

969.50

971.00

1.50

<500 –  5200

     

977.50

978.50

1.00

<500 –  4600

AR-18-218c1

327

-65

827.00

97.80

No Anomalous Radioactivity

AR-18-219c1

327

-65

663.50

133.95

342.50

347.00

4.50

<500 –  1300

     

353.00

354.00

1.00

<500 –  3200

     

359.00

369.50

10.50

<500 –  4300

     

375.00

375.50

0.50

<500 –  650

     

387.00

416.00

29.00

<500 –  3300

     

430.00

433.00

3.00

<500 –  1275

     

442.00

445.00

3.00

<500 –  1550

     

447.50

470.50

23.00

<500 –  5350

     

572.00

573.50

1.50

<500 –  4200

     

578.50

579.50

1.00

<500 –  680

     

586.50

590.00

3.50

<500 –  61000

     

594.00

594.50

0.50

<500 –  570

     

602.00

605.00

3.00

<500 –  10500

     

611.50

612.00

0.50

1100 –  26700

     

621.00

625.50

4.50

<500 –  16500

     

631.00

631.50

0.50

<500 –  2310

AR-18-220c1

327

-68

744.50

130.35