NexGen Announces Expansion of High-Grade Subdomain at Patterson Corridor East (PCE) and Commencement of 2026 Exploration Program Totalling 45,500 Meters

PCE Expansion: • Vertical extent of high-grade subdomain has increased by 23% from 335 m to 412 m with 210 m of strike length. • Additional expansion of the mineralized footprint to 700 m vertical extent (from 600 m) and to 620 m strike length (from 600 m). • Additional high-grade subdomain building at 850 m below surface, extending high-grade in this portion of the mineralization and opening it to further growth. 2026 Drilling Program Commencement: • 42,000 meters (“m”) of diamond drilling at PCE in 2026 to be largest program conducted at the discovery to date building on the highly successful 2025 growth and results. • Inaugural drilling at NexGen’s 100% owned SW3 property with 3,500 m to advance high-priority targets.

uranium

NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG) (“NexGen” or the “Company”) is pleased to announce the concluding holes of the 2025 PCE program and the commencement of the 2026 Exploration Program.

2025 PCE

Final drill holes of the 2025 PCE program delivered continued expansion of mineralization with high-grade growth and assessment of extents advancing significantly since the Company’s last scintillometer report (see news release dated August 28, 2025). The primary high-grade subdomain grew to 412 m in vertical extent (increase of 77 m) and a strike length of 210 m. An additional high-grade subdomain is developing with hole RK-25-257 intersecting local off-scale (>61,000 cps) at the base of the currently outlined mineralized footprint, indicating significant expansion potential at depth (Figures 1-4, Table 1).

The overall mineralized footprint expanded to 620 m (increase of 20 m) of strike length and 700 m (increase of 100 m) of vertical extent, remaining open in most directions. Step out testing has provided critical information regarding extents of the system and opportunities for continued growth.

Internal continuity within the subdomain was most recently highlighted by RK-25-271 with 5.8 m of cumulative high-grade (>10,000 cps) and 0.8 m of off-scale (>61,000 cps) that increases the mineralized zone in the lower half of this subdomain (Figure 3, Table 1). Hole RK-25-271 is located 65 m down-dip from hole RK-25-256 (see news release dated December 1, 2025) which returned 5.5 m at 21.4% U3O8, including 2.5 m at 46.1% U3O8 and 0.5 m at 74.8% U3O8.

The 2025 drilling program successfully completed 35,366.2 m, the largest reported in the Athabasca Basin in 2025. Since discovery (see news release date March 11, 2024), 102 drillholes totalling 69,042.2 m have been completed (Figure 1). A dual focused approach was taken in 2025 to both grow and define multiple high-grade subdomains as well as expand the overall mineralized footprint. To date, 67 of the 102 drill holes are mineralized, including 45 intersecting high-grade (>10,000 cps) and 17 intersecting off-scale (>61,000 cps).

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Figure 1: Interpreted model of mineralization at PCE (as of this release); new holes emphasized by larger diameter pierce points and bold labels; view is a long section that looks perpendicular to the primary mineralized plane; total mineralized footprint in orange and the high-grade subdomains in red; drillholes with pending assays are underlined, 32% of 2025 drillholes have fully received results (as of this release).

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Figure 2: Comparison of mineralization at PCE over time with the model evolving based on new geological data; dimensions are measured from confirmed mineralized intercepts along strike and vertical extent; view is a long section that looks perpendicular to the primary mineralized plane; total mineralized footprint in orange and the high-grade subdomains in red.

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Figure 3: Core photo from RK-25-271 displays mineralization from 624.7 to 640.6 m down hole with abundant high-grade and several instances of off-scale in competent basement rock; yellow outlines >1,000 cps, red outlines >10,000 cps, >61,000 cps outlined in purple.

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Figure 4: Representative geological cross-section through high-grade subdomain looking northeast with confirmed dip extent of 450 m and width up to 135 m; uranium mineralization shown as red overlay; interpretation of features extending beyond drillholes aided by drilling information outside of cross-section width (25 m).

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2026 Exploration Program Commencement

Advancement of PCE mineralization with 42,000 m of drilling (Figure 5):

Drilling activity will primarily focus on high-grade growth and the continued expansion of the mineralized footprint. At least eight (8), 200 m spaced tests will also investigate for repetition of basement-hosted mineralization within the same hydrothermal system approximately 600 m southeast of the PCE discovery.

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Figure 5: Map of PCE with ground gravity in background, target areas are hosted within gravity low denoted by blue colours, interpreted faults are shown as black dashed lines; primary focus in the immediate vicinity of PCE mineralization with additional secondary investigation of local system.

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Regional drilling of 3,500 m at SW3 (Figure 6):

An inaugural, drill program will take place on the SW3 land package with regional greenfield testing of highly prospective target areas. This marks the first drilling on any SW3 mineral claims by NexGen and an exciting step in the direct investigation of geophysical anomalies identified. The SW3 package is one of the three core packages NexGen owns 100% of in the southwest Athabasca Basin and is situated 20 km southeast of the SW2 package which hosts the Rook I Project.

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Figure 6: Map of SW3 with inset of overall NexGen land packages; 3,500 m will investigate highest priority target areas, outlined in red, in this greenfield setting.

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Leigh Curyer, Chief Executive Officer, commented: “We are extremely pleased with the 2025 outcomes from the 2025 drill program at PCE that delivered on our dual-purpose objectives of expanding the overall mineralized footprint and expand the high-grade subdomain within it. These results systematically outline mineralization that continues to deliver growth and strong continuity, characteristics synonymous with Arrow deposit 3.5 km west. The 2025 drill program has rapidly advanced this new discovery, while underscoring the tremendous prospectivity of NexGen’s 100% owned dominant land holdings which is driving the expanded activity in 2026. The 2026 program is designed to continue the dual track focus at PCE and in parallel, test for a repetition of PCE within the same system. In addition, drilling for the first time at our SW3 property is a reflection of the south western section of the Athabasca Basin world class prospectivity.

At a pivotal moment for global energy security, nuclear power is being recognized as an indispensable pillar for reliable, clean, cost efficient energy. The NexGen team is laser focused on concluding the final Federal permitting and licensing for the Rook I Project and immediately advancing through construction into production whilst simultaneously advancing the exciting PCE discovery and other high priority targets.”

Jason Craven, Vice President, Exploration, commented: “Last year’s highly transitional and successful program positions NexGen to enter 2026 with an even deeper understanding of this broad and growing high-grade system. A multitude of targets remain to be tested as we continue to systematically advance PCE with a dual priority track of expanding both the high-grade subdomains as well as the overall mineralized system. The comprehensive 2026 program strategically positions all three land packages on an exciting path toward expansion of PCE as well as additional discoveries as NexGen works to sustainably supply the world with uranium in the face of mounting and persistent deficits.”

Table 1: Spectrometer results since August 28, 2025 release

DrillholeUnconformity Depth (m)Handheld Spectrometer Results (RS-125)
Hole IDAzimuthDipTotal Depth (m)From (m)To (m)Width (m)CPS Range
RK-25-254c2275-65553.5394.0394.50.5<500 – 530
394.5395.00.5<500 – 510
396.5397.00.5<500
409.5411.52.0<500
412.0413.51.5<500
420.5421.00.5<500
421.0421.50.5<500 – 900
421.5422.00.5<500
429.5430.00.5<500
437.5438.00.5<500 – 710
438.0438.50.5<500 – 530
438.5439.00.5<500 – 6500
439.0439.50.5<500 – 520
439.5440.00.51000 – 4900
440.0440.50.51000 – 12000
440.5441.00.5<500 – 9000
441.0441.50.5<500 – 1000
441.5442.00.5<500
442.0442.50.5<500
442.5443.00.5<500
446.0446.50.5<500 – 2000
446.5447.00.5<500 – 800
447.0447.50.5<500
447.5448.00.5<500 – 1000
448.0448.50.5<500
448.5449.00.5<500 – 700
449.0449.50.5<500 – 600
449.5450.00.5<500 – 700
450.5451.00.5<500
451.0451.50.5<500 – 700
451.5452.00.5<500 – 550
452.0452.50.5<500
452.5453.00.5<500 – 540
453.0453.50.5<500
453.5454.00.5<500 – 700
454.0454.50.5<500
457.0457.50.5<500
481.5482.00.5<500 – 600
482.0482.50.5<500 – 1300
482.5483.00.5<500 – 510
483.0483.50.5<500
483.5484.00.5<500
490.5491.00.5<500 – 1350
491.0491.50.5<500
491.5492.00.5<500
492.0492.50.5<500
492.5493.00.5<500
493.0493.50.5<500 – 700
493.5494.00.5<500
495.5496.00.5<500
496.0496.50.5<500 – 3600
496.5497.00.5<500 – 2000
RK-25-2554-70950.4112.7674.5675.00.5<500
676.5677.00.5<500
779.5780.00.5<500 – 770
780.0780.50.5<500 – 1000
780.5781.00.5<500 – 2900
781.0781.50.5<500 – 4400
781.5782.00.5<500 – 2400
782.0782.50.5<500 – 550
782.5783.00.5<500 – 1200
785.5786.00.5<500 – 1000
786.0786.50.5<500
787.0787.50.5<500
789.5790.00.5<500
790.0790.50.5<500 – 1200
790.5792.52.0<500
792.5793.00.5<500 – 1000
793.0798.05.0<500
798.0798.50.5<500 – 1100
799.5800.00.5<500 – 620
800.5801.00.5<500
804.0804.50.5<500
805.0805.50.51200 – 6700
807.0807.50.5<500 – 5000
807.5807.70.210000 – 12000
807.7807.80.1>61000
807.8808.00.2<500 – 520
808.0808.50.5<500 – 3900
829.5830.00.5<500 – 520
830.0830.50.5<500 – 590
832.0833.01.0<500
833.0833.50.5<500 – 560
833.5835.01.5<500
835.5836.51.0<500
838.5839.51.0<500
840.5841.00.5<500
842.0842.50.5<500
842.5843.00.5<500 – 990
844.0844.50.5<500 – 940
844.5845.00.5<500 – 1700
845.0845.50.5<500 – 620
845.5846.51.0<500
847.5848.00.5<500 – 870
848.0848.50.5<500
851.5852.00.5<500 – 5300
852.0852.50.5<500 – 18400
885.5886.00.5<500
886.0886.50.5<500 – 800
886.5887.00.5<500 – 600
889.0889.50.5<500 – 550
889.8890.10.36600 – 31000
890.1890.50.4<500
RK-25-257337-681085.0108.0925.0925.50.5<500 – 4800
925.5926.00.5<500 – 1180
929.5930.00.5<500 – 840
930.5931.00.5<500
931.0931.50.5<500 – 510
938.0938.50.5<500 – 1180
940.5941.00.5520 – 760
941.0941.50.5600 – 1500
941.5942.00.5<500 – 1190
942.0942.50.5530 – 1300
942.5943.00.5700 – 5100
943.0943.20.23000 – 33000
943.2943.30.1>61000
943.3943.50.22000 – 28000
943.5944.00.5580 – 2000
944.0944.50.5500 – 1300
944.5945.00.51700 – 2800
946.0946.50.5850 – 9000
948.0948.20.217000 – 43000
948.2948.40.2>61000
948.4948.50.14000 – 9000
948.5949.00.51800 – 50000
949.0949.50.5660 – 7100
949.5950.00.5750 – 6900
950.0950.50.513000 – 5100
950.5951.00.5<500 -540
951.0951.50.5700 – 18000
951.5952.00.5<500 -540
952.0952.50.5<500 – 1830
954.5955.51.0<500
955.5956.00.5<500 – 710
956.0956.50.5<500
956.5957.00.5<500 – 1090
957.0957.50.5<500 – 1030
958.5959.00.5<500 – 750
959.5960.00.5<500 – 900
960.0960.50.5<500 – 720
960.5961.00.5680 – 3280
961.0961.50.5<500 – 540
961.5962.00.5<500 – 1280
962.0962.50.5<500 – 1230
962.5963.00.5<500 – 680
963.0963.50.5<500 – 1200
963.5964.51.0<500
965.5966.00.5<500 – 860
966.0966.50.5<500
968.5969.00.5<500 – 1300
971.5972.00.5<500
990.5993.02.5<500
993.0993.50.5<500 – 830
993.5994.00.51700 – 3200
994.0994.50.51200 – 3100
994.5995.00.51100 – 3290
995.0995.50.52000 – 5300
995.5996.00.54000 – 9100
996.0996.50.5<500 – 900
996.5997.00.5<500 – 7380
997.0997.50.5900 – 2200
997.5998.00.52980 – 2340
998.0998.50.5<500
1005.01005.50.5600 – 3700
1005.51006.00.5<500 – 1100
1006.01006.50.5<500 – 1600
1006.51007.00.5<500
1007.01007.50.5<500 – 1300
1007.51008.00.5<500
1009.51010.00.5<500 – 3600
1010.01012.02.0<500
1012.01012.50.5<500 – 5000
1012.51013.00.51000 – 7500
1013.01013.50.5790 – 10000
1013.51014.00.51050 – 9000
1014.01014.50.5<500
1017.51018.00.5<500 – 1900
1023.51024.00.5<500 – 550
1024.01024.50.5<500 – 760
1026.01026.50.5<500
1026.51027.00.5<500 – 4250
1027.01027.50.5<500
1027.51028.00.5580 – 4690
1028.01028.50.5680 – 1390
1028.51029.00.5780 – 2230
1029.01029.50.5600 – 43000
1030.51031.00.5<500 – 11000
1031.01031.50.5<500 – 1090
1032.01032.50.5<500
1032.51033.00.5<500 – 29000
1033.01033.50.5<500 – 5750
1033.51034.00.5<500 – 1500
1035.51036.00.5<500
1036.01036.50.5<500 – 1500
1036.51037.00.5<500
RK-25-257c1337-681139.0964.0966.02.0<500
1037.01037.50.5<500
1039.51040.00.5<500 -700
1040.01040.50.5<500 – 650
1040.51041.00.5<500 – 750
1041.01041.50.5<500 – 530
1041.51042.00.5<500 – 620
1042.01042.50.5<500
1044.01044.50.5<500 – 690
1044.51045.00.5<500 – 700
1048.51049.00.5<500
1094.51095.00.5<500
RK-25-257c2337-681104.0997.5998.00.5<500
998.5999.00.5<500
1000.51001.51.0<500
1036.51037.00.5<500 – 1300
RK-25-258278-67249.0117.8No significant intersections
RK-25-258c1278-67687.0499.0499.50.5<500
500.0500.50.5<500 – 2800
500.5501.00.5<500 -900
501.0501.50.5<500 – 1700
501.5502.00.5<500
502.5503.51.0<500
506.5507.00.5<500
507.0507.50.5<500 – 720
507.5508.00.5<500 – 620
508.0508.50.5<500 – 870
508.5509.00.5<500
514.0514.50.5<500
519.5520.00.5<500
520.0520.50.5<500 – 1300
520.5521.00.5<500 – 2300
521.0521.50.5<500 – 900
521.5522.00.5<500
534.5535.00.5<500
535.5537.52.0<500
538.0538.50.5<500
538.5539.00.5<500 – 1300
539.0539.50.5<500
545.0546.01.0<500
546.0546.50.5<500 – 1000
546.5547.00.5<500
549.0551.02.0<500
551.0551.50.5<500 – 2800
551.5552.00.5<500
552.0552.50.5<500 – 3300
552.5553.00.53000 – 36000
553.0553.50.51300 – 17000
553.5554.00.52500 – 14000
554.0554.50.5550 – 2300
554.5555.00.5<500 – 1000
555.0555.50.5600 – 2000
557.0557.50.5<500
557.5558.00.5<500 – 760
558.0558.50.51000 – 3600
558.5559.00.53200 – 26000
559.0559.50.59000 – 30000
559.5560.00.55500 – 12000
560.0560.50.5600 – 3800
560.5561.00.52000 – 6500
561.0561.50.51500 – 3800
561.5562.00.5700 – 1700
562.0562.50.5<500 – 1500
562.5563.00.51000 – 2500
563.0563.50.5<500 – 2100
563.5564.00.5<500 – 700
564.0564.50.5<500
564.5565.00.5<500 – 1000
565.0565.50.5<500
565.5566.00.5<500 – 530
566.0566.20.2500 – 3500
566.2566.40.2>61000
566.4566.50.1900 – 10000
566.5567.00.5<500
573.5574.00.5<500
574.5575.00.5<500
629.0629.50.5<500 – 950
629.5630.00.5<500 – 550
630.0630.50.5<500
631.5633.01.5<500
633.0633.50.5<500 – 1200
633.5634.00.5<500 – 1300
634.0634.50.5<500 – 630
635.0636.01.0<500
642.0642.50.5<500
RK-25-258c2278-67667.0552.5553.00.5<500
572.5573.00.5<500 – 820
573.0573.50.5<500 – 1800
574.0574.50.5<500 – 580
574.5575.00.5<500 – 1100
575.5576.00.5<500 – 5800
576.0576.50.5500 – 3500
576.5577.00.5800 – 2800
577.0577.50.51000 – 8500
577.5578.00.51400 – 8000
578.0578.50.51400 – 9800
578.5579.00.51000 – 30000
579.0579.50.5<500 – 37000
579.5580.00.5750 – 2400
580.0580.50.52100 – 4200
580.5581.00.5<500 – 19000
582.5583.00.5<500
584.0584.50.5<500
584.5585.00.5<500 – 2350
585.0585.50.5500 – 5300
585.5586.00.5<500 – 2500
586.0586.50.5900 – 7000
586.5587.00.5<500 – 4100
587.0587.50.5500 – 27000
587.5588.00.5<500 – 1100
588.0589.01.0<500
589.5590.00.5<500
591.0591.50.5<500
592.0592.50.5<500 – 2500
592.5593.00.5<500 – 600
594.0594.50.5<500 – 750
594.5595.00.5<500 – 770
595.0595.50.5<500
598.0598.50.5<500
598.5599.00.5<500 – 520
601.0601.50.5<500
602.0602.50.5<500
603.5605.52.0<500
605.5606.00.5<500 – 1500
606.0606.50.5<500 – 700
606.5607.00.5<500 – 3000
607.0607.50.5900 – 2800
607.5608.00.5<500
608.0608.50.5<500 – 1800
608.5609.00.5<500 – 510
609.0609.50.5<500 – 1800
618.5619.00.5<500 – 520
619.5624.04.5<500
629.0629.50.5<500 – 750
629.5630.00.5<500
630.0630.50.5<500 – 1300
638.5639.00.5<500
RK-25-259280-68609.0118.7461.0461.50.5<500
461.5462.00.5<500 – 1000
462.0463.01.0<500
463.0463.50.5<500 – 1300
463.5464.00.5<500 – 1200
464.0464.50.5<500 – 1000
464.5465.00.5<500
465.5466.00.5<500 – 700
471.0471.50.5<500
471.5472.00.5<500 – 1100
472.0472.50.5<500
472.5473.00.5<500 – 510
473.0473.50.5<500 – 750
473.5474.00.5<500
474.0474.50.5<500 – 720
474.5475.00.5600 – 3300
475.0475.50.5930 – 20000
475.5476.00.5<500 – 800
477.0477.50.5<500
491.0491.50.5<500
522.0522.50.5<500
522.5523.00.5<500 – 1300
523.0523.50.5<500 – 510
523.5524.51.0<500
532.5533.00.5<500
536.5537.00.5<500 – 1900
537.0537.50.5<500 – 22000
596.0596.50.5<500
596.5597.00.5<500 – 520
RK-25-260277-72879.0111.0612.0612.50.5<500 – 520
614.0614.50.5<500 – 1690
RK-25-261275-70456.0272.0273.01.0<500
281.0281.50.5<500
282.0283.01.0<500
283.5284.00.5<500
284.0285.01.0<500 – 2000
286.0286.50.5<500
288.0288.50.5<500
290.5291.00.5<500
301.0302.01.0<500
308.0308.50.5<500
309.5310.00.5<500 – 600
310.0312.02.0<500
314.5315.00.5<500
322.0324.52.5<500
324.5325.00.5<500 – 700
325.0325.50.5<500 – 850
325.5326.00.5<500 – 540
326.0326.50.5<500 – 540
326.5327.00.5<500
327.0327.50.5<500 – 1300
327.5328.00.5700 – 16000
328.0328.50.5900 – 2800
328.5329.00.5<500 – 600
329.0330.51.5<500
330.5331.00.51000 – 3700
331.0331.50.5<500 – 1900
331.5332.00.5<500
332.5333.00.5<500
333.0333.50.5<500 – 650
333.5334.00.5600 – 1000
334.0334.50.5<500
340.0340.50.5<500 – 640
340.5341.00.5<500 – 1100
341.0341.50.5<500 – 1400
341.5342.00.5<500 – 640
361.5362.00.5<500
RK-25-262280-70567.0119.6417.0417.50.5<500 – 560
423.5424.00.5<500
426.5427.00.5<500
433.5434.00.5<500 – 580
435.0435.50.5<500 – 1400
435.5436.00.5<500 – 650
436.0436.50.5<500
438.0438.50.5<500
442.5443.00.5<500 – 700
452.5453.00.5<500 – 2200
455.0455.50.5<500
458.5459.00.5<500 – 330
459.0459.50.5<500 – 640
463.5464.00.5<500 – 1800
464.0464.50.5<500 – 5200
464.5465.00.5<500 – 630
466.0466.50.5<500
466.5467.00.5<500 – 1500
470.5471.00.5<500
490.0490.50.5<500 – 860
491.0491.50.5<500 – 650
491.5492.00.5<500 – 620
492.0492.50.5<500 – 730
492.5493.00.5<500 – 600
493.5494.00.5<500 – 540
494.0494.50.5<500 – 610
494.5495.00.5<500 – 3300
495.0495.50.5<500 – 2100
511.0511.50.5<500
511.5512.00.5<500 – 1000
512.0512.50.5<500
RK-25-263275-70474.0308.5309.00.5<500
311.5312.00.5<500 – 1100
312.0312.50.5<500 – 850
312.5313.00.5<500
313.0313.50.5<500 – 950
313.5314.00.5<500
314.5315.00.5<500 – 850
320.5321.00.5<500
356.5357.51.0<500
413.0414.01.0<500
RK-25-264265-70390.0123.8255.0256.51.5<500
257.5258.00.5<500
263.0264.51.5<500
265.5267.52.0<500
325.5326.51.0<500
RK-25-210c1310-70894.0794.0794.50.5<500
795.0796.01.0<500
801.5802.00.51800 – 35000
802.0802.50.51100 – 15000
802.5803.00.5<500 – 850
803.0803.50.5<500 – 3500
803.5804.51.0<500
804.5805.00.5<500 – 1300
805.0805.50.5<500 – 1100
805.5806.00.5<500 – 720
806.0806.50.5<500 – 850
811.0811.50.5<500 – 1250
811.5812.00.5<500 -1600
812.5813.00.5<500 – 580
813.0813.50.5<500 – 2200
813.5814.00.5<500 – 2100
814.5815.00.5<500 – 750
817.5818.00.5<500 – 3150
819.0819.50.5<500
819.5820.00.5<500 – 3350
820.0820.50.5<500 – 2100
820.5821.00.5<500 – 2750
821.0821.50.5<500 – 11000
821.5822.00.5<500 – 4500
824.0824.50.5<500 – 600
824.5825.00.5<500 – 1350
855.5856.00.5<500
857.0857.50.5<500
RK-25-265270-68627.0119.2488.0488.50.5<500
511.5512.00.5<500
512.0512.50.5<500 – 530
512.5513.00.5<500 -1620
515.5516.00.5<500
RK-25-210c2310-70909.0811.0811.50.5<500
811.5812.00.51100 – 6200
812.0812.50.5<500 – 520
812.5813.00.5<500
813.0813.50.5<500 – 620
814.5815.00.5630 – 7000
816.5817.00.5<500 – 1200
817.0817.50.5<500 – 1100
819.0819.50.5<500 – 600
821.5822.00.5<500 – 1200
822.0822.50.53000 – 20000
822.5823.00.5<500 – 6000
823.0823.50.51000 – 5000
823.5824.00.5600 – 2400
824.0825.01.0<500
841.0841.50.5<500
841.5842.00.5<500 – 1000
844.5845.00.5<500
852.5853.00.5<500 – 780
868.5869.00.5<500 – 520
887.5888.00.5<500
888.0888.50.5<500 – 1000
RK-25-266275-67543.0122.9431.5432.00.5<500
432.0432.50.5<500 – 6200
432.5433.00.5<500 – 900
433.0433.50.5<500 – 690
RK-25-267274-68528.0126.3468.0468.50.5<500 – 900
470.5471.00.5<500
474.0474.50.5<500
488.5489.00.5<500
RK-25-268280-60429.0135.3246.0246.50.5<500
248.0248.50.5<500
248.5249.00.5<500
249.0249.50.5<500
250.0250.50.5<500 – 650
250.5251.00.5<500
251.0252.01.0<500
252.0252.50.5<500 – 1500
253.5254.00.5<500
254.0254.50.5<500 – 630
254.5255.00.5530 – 1000
255.0255.50.5650 – 1530
255.5256.00.5<500
256.0256.50.5<500 – 650
256.5257.00.5<500 – 1000
257.0257.50.5<500 – 900
257.5258.00.5<500
258.5259.00.5<500
259.0259.50.5<500 – 1900
260.0260.50.5<500 – 600
260.5261.00.5<500 – 900
261.5262.00.5<500 – 610
262.5263.51.0<500
263.5264.00.5<500 – 900
272.5273.00.5<500
275.0275.50.5<500
276.0276.50.5<500 – 550
276.5277.00.5<500
277.5278.00.5<500
280.5281.00.5<500
285.0285.50.5<500
288.5289.00.5<500
289.0289.50.5<500 – 550
289.5290.00.5<500 – 2000
290.5291.00.5<500
293.0293.50.5<500 – 2550
293.5294.00.5<500 – 700
294.0294.50.5<500
295.5296.00.5<500
301.0301.50.5<500
305.5306.00.5<500 – 550
RK-25-269298-68820.0108.9671.0671.50.5<500 – 850
703.0703.50.5<500 – 1820
709.5710.00.5<500 – 980
717.5718.00.5<500 – 700
718.0718.50.5<500 – 5700
724.5725.00.5<500 – 1800
727.5728.00.5<500 – 1380
731.5732.00.51500 – 7600
732.0732.50.51900 – 7600
732.5733.00.5500 – 890
733.0733.50.5<500 – 1890
733.5734.00.5900 – 2500
734.0734.50.5800 – 1260
734.5735.00.5<500 – 1480
735.5736.00.5<500
736.5737.00.5<500 – 520
737.0737.50.5<500 – 590
738.0738.50.5<500 – 2300
738.5739.00.5<500 – 540
744.0745.01.0<500
745.0745.50.5<500 – 1300
745.5746.00.53010 – 3700
746.0746.50.5<500 – 1200
746.5747.00.5<500 – 7000
747.0747.50.5750 – 18000
747.5748.00.5<500 – 840
748.0748.50.5<500 – 640
748.5749.00.5770 – 2490
749.0749.50.5880 – 1380
749.5750.00.5<500 – 6600
750.0750.50.5<500 – 4430
751.5752.00.5<500
753.0753.50.5<500 – 680
755.5756.00.5<500 – 2100
757.5758.00.5650 – 1200
758.0758.50.5900 – 34000
758.5759.00.52600 – 25000
759.0759.50.5600 – 2700
759.5760.00.5<500
760.0760.50.5<500 – 820
760.5762.01.5<500
762.0762.50.5<500 – 3800
762.5763.00.5500 – 3200
763.0763.50.5<500 – 790
763.5764.00.5<500 – 1700
764.0764.50.5<500
765.0765.50.5<500
765.5766.00.5<500 – 520
769.5770.00.5<500 – 1100
770.0770.50.5<500 – 1800
771.0771.50.5<500 – 970
771.5772.00.5<500 – 2400
772.0772.50.5<500 – 5800
772.5773.00.5<500 – 790
773.5774.00.5<500 – 2800
775.5776.00.5<500
776.5777.00.5<500 – 530
777.0777.50.5700 – 1170
RK-25-270290-65420.0134.7No significant intersections
RK-25-271275-75744.0115.0587.0587.50.5<500
587.5588.00.5<500 – 730
596.0596.50.5<500
596.5597.00.5<500 – 1300
597.0598.01.0<500
598.0598.50.5<500 – 600
600.0600.50.5<500
603.0603.50.5<500
610.0610.50.5<500 – 520
610.5611.00.5<500 – 10000
611.0611.50.5<500 – 1000
612.0612.50.5<500
612.5613.00.5<500 – 800
613.0613.50.5<500 – 610
613.5614.00.5<500
614.0614.50.5<500 – 4100
614.5615.00.51500 – 6100
615.0615.50.51400 – 4700
615.5616.00.5<500
617.5618.00.5<500 – 740
618.0618.50.5<500 – 3300
618.5619.00.5<500
620.0621.01.0<500
621.0621.50.5<500 – 630
621.5622.00.5<500 – 1600
622.0622.50.5760 – 2100
622.5623.00.5800 – 2800
623.0624.51.5<500
624.5625.00.5540 – 3100
625.0625.50.51700 – 9100
625.5626.00.51100 – 3300
626.0626.50.5<500 – 1700
626.5627.00.5<500 – 1000
627.0627.50.5<500 – 1400
627.5628.00.5520 – 2600
628.0628.50.5730 – 17500
628.5629.00.5<500 – 3200
629.0629.50.5<500 – 600
629.5630.00.5520 – 7600
630.0630.50.5720 – 39000
630.5631.00.5800 – 5700
631.0631.50.5570 – 8100
631.5632.00.5<500 – 2200
632.0632.10.1>61000
632.1632.50.4<500 – 55000
632.5633.00.5<500
633.0633.50.5<500 – 55200
633.5634.00.51400 – 25400
634.0634.20.224000 – 50500
634.2634.30.1>61000
634.3634.50.221000 – 51500
634.5634.70.2>61000
634.7635.00.33400 – 47500
635.0635.20.2>61000
635.2635.50.32100 – 53500
635.5636.00.5<500 – 810
636.0637.01.0<500
637.0637.40.4<500 – 4200
637.4637.50.1>61000
637.5637.70.2<500 – 1100
637.7637.80.1>61000
637.8638.00.2<500 – 700
638.5639.00.5<500
639.0639.50.5<500 – 1850
639.5640.00.52000 – 17500
640.0640.50.5550 – 11000
642.5643.00.5<500
643.0643.50.5<500 – 1100
643.5644.00.5<500
647.5648.00.5<500
648.0648.50.5<500 – 670
649.5650.00.5750 – 12000
650.0650.50.5<500 – 860
650.5652.01.5<500
652.0652.50.5<500 – 1090
653.0653.50.5<500 – 600
659.0659.50.5<500
663.5664.00.5<500
664.0664.50.5<500 – 5410
664.5665.00.5<500 – 690
675.0675.50.5<500 – 670
676.0677.01.0<500
677.5678.00.5<500 – 600
681.0681.50.5<500
697.0697.50.5<500 – 1000
705.5706.00.5<500 – 1300
723.5724.51.0<500
RK-25-272270-70685.1119.3511.0511.50.5<500
511.5512.00.5<500 – 800
512.0512.50.5<500 – 1500
512.5513.00.5<500
521.0522.51.5<500
522.5523.00.5<500 – 590
523.0523.50.5<500 – 890
523.5524.00.5580 – 7200
524.0524.50.5<500
524.5525.00.5<500 – 1100
525.0526.01.0<500
530.0530.50.5<500
530.5531.00.5<500 – 1300
531.0531.50.5<500 – 800
531.5532.00.5<500 -700
532.0532.50.5<500 – 1500
532.5533.00.5500 – 15000
533.0533.50.5<500 – 600
533.5534.00.5800 – 23000
534.0534.50.5<500 – 600
534.5535.00.5<500 – 600
535.0535.50.5600 – 5000
535.5536.00.51000 – 5000
536.0536.50.5600 – 2000
536.5537.00.5<500
539.5540.00.5<500
540.0540.50.5<500 – 630
540.5541.00.5<500
541.0541.50.5<500 – 580
541.5542.51.0<500
544.5545.00.5<500
545.5548.02.5<500
548.0548.50.5510 – 1700
548.5549.00.5640 – 1300
549.0549.50.5<500 – 3500
549.5550.00.5<500
550.0550.50.5630 – 5900
550.5551.00.5900 – 13000
551.0551.50.5<500 – 2100
552.5553.00.5<500 – 800
553.0553.50.5500 – 3800
553.5554.00.5<500 – 2800
554.0554.50.51100 -7400
556.0556.50.5<500 – 1100
556.5557.00.5<500 – 2380
557.0557.50.5900 – 13800
557.5558.00.51900 – 43000
558.0558.50.54000 – 11900
558.5559.00.5<500 – 4600
559.0559.50.5<500 – 1500
559.5560.00.5<500 – 880
560.0560.50.5<500 – 1090
560.5561.00.5<500
561.0561.50.5<500 – 690
561.5562.00.5<500 – 1120
562.0562.50.5<500 – 580
562.5563.00.5<500 – 4000
563.0563.20.2>61000
563.2563.50.3<500 – 5300
563.5564.00.5<500
569.5570.00.5<500 – 870
570.0570.50.5<500 – 1200
570.5571.00.5<500 – 650
571.0571.50.5<500 – 590
571.5572.00.52200 – 10000
572.0572.50.5<500 – 2900
572.5573.00.5<500 – 3700
573.0574.01.0<500
574.0574.50.5<500 – 1770
576.0576.50.5<500 – 6800
576.5577.00.5<500 – 4600
577.0577.50.5<500 – 10100
577.5578.00.5<500 – 590
578.0578.50.5<500
582.5583.00.5<500
584.0584.50.5<500 – 690
584.5585.00.5<500
586.5587.00.5<500
598.0598.50.5<500

 

  • All depths and intervals are meters downhole, true thicknesses are yet to be determined.
  • “Off-scale” refers to >61,000 cps (counts per second) readings by gamma spectrometer type RS-125.
  • “Anomalous” means >500 cps readings by gamma spectrometer type RS-120.
  • Where “CPS Range” is <500 cps, this refers to local low radioactivity within the overall interval.
  • Unconformity of ‘N/A’ denotes a lack of visible contact between Athabasca sandstone and basement rock.
  • Maximum internal dilution 2.0 m downhole.
  • All depths and intervals are meters downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be determined.

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company’s flagship Rook I Project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite environmental and social governance standards. The Rook I Project is supported by an N.I. 43-101 compliant Feasibility Study, which outlines the elite environmental performance and industry-leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure. NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational, long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.

NexGen is listed on the Toronto Stock Exchange, the New York Stock Exchange under the ticker symbol “NXE,” and on the Australian Securities Exchange under the ticker symbol “NXG,” providing access to global investors to participate in NexGen’s mission of solving three major global challenges in decarbonization, energy security and access to power. The Company is headquartered in Vancouver, British Columbia, with its primary operations office in Saskatoon, Saskatchewan.

Contact Information

Leigh Curyer
Chief Executive Officer

NexGen Energy Ltd.
+1 604 428 4112
lcuryer@nxe-energy.ca
www.nexgenenergy.ca

Travis McPherson
Chief Commercial Officer
NexGen Energy Ltd.
+1 604 428 4112
tmcpherson@nxe-energy.ca
www.nexgenenergy.ca

Monica Kras
Vice President, Corporate Development
NexGen Energy Ltd.
+44 7307 191933
mkras@nxe-energy.ca
www.nexgenenergy.ca

Technical Disclosure*

All technical information in this news release has been reviewed and approved by Jason Craven, NexGen’s Vice President, Exploration, a qualified person under National Instrument 43-101.

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-125 gamma spectrometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.

A technical report in respect of the FS is filed on SEDAR (www.sedarplus.ca) and EDGAR (www.sec.gov/edgar.shtml) and is available for review on NexGen Energy’s website (www.nexgenenergy.ca).

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission (“SEC”) set by the SEC’s rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Forward-Looking Information

The information contained herein contains “forward-looking statements” within the meaning of applicable United States securities laws and regulations and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the project and expected outcomes. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Statements relating to “mineral resources” are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property , the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen’s Annual Information Form dated March 6, 2024 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen’s 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR at www.sedarplus.ca and Edgar at www.sec.gov.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

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