Results

NexGen Energy Ltd.

07/10/2019 | Press release | Distributed by Public on 07/10/2019 04:44

NexGen Continues to Intersect High-Grade Mineralization in all A2 and A3 Targets Highlighting Strength of Continuity at Arrow

VANCOUVER, July 10, 2019/CNW/ - NexGen Energy Ltd. ('NexGen' or the 'Company') (TSX: NXE, NYSE MKT: NXE) is pleased to report radioactivity results for an additional forty holes comprising 18,166.5 mfrom the Company's Feasibility stage drilling program at our 100% owned, Rook I property in the AthabascaBasin, Saskatchewan.

Conversion of Indicated to Measured

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 mand 16.7 mbased on a geostatistical data spacing report compiled by Clayton V. Deutschfrom Resource Modeling Solutions. 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

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

  • AR-19-229c5 intersected 44.0 mof total composite mineralization including 14.05 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 98.0 msection (573.0 to 678.0 m). Additionally, of the 14.05 mof off-scale mineralization intersected in the hole 3.35 mof massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-239c2 intersected 45.5 mof total composite mineralization including 7.60 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 107.0 msection (642.0 to 749.0 m). Additionally, of the 7.60 mof off-scale mineralization intersected in the hole 1.65 mof massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-241c1 intersected 10.0 mof total composite mineralization including 4.65 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 91.0 msection (492.0 to 583.0 m) in the A2 sub-zone. Additionally, of the 4.65 mof off-scale mineralization intersected in the hole 0.5 mof massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-243c3 intersected 24.5 mof total composite mineralization including 4.45 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 85.5 msection (593.0 to 678.5 m). Additionally, of the 4.45 mof off-scale mineralization intersected in the hole 0.5 mof massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-246c1 intersected 52.0 mof total composite mineralization including 6.70 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 107.5 msection (628.0 to 735.5 m). Additionally, of the 6.7 mof off-scale mineralization intersected in the hole 0.65 mof massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;
  • AR-19-247c1 intersected 27.0 mof total composite mineralization including 4.30 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 85.0 msection (605.0 to 690.0 m).

A3 High-Grade Domains and Sub-Zone

The highlights below include composite and off-scale radioactivity results from the A3 only, for radioactivity results for the entire hole see Table 1: Arrow Deposit Drill Hole Data.

  • AR-19-248c2 intersected 45.5 mof total composite mineralization including 7.30 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 89.0 msection (487.0 to 576.0 m);
  • AR-19-242c2 intersected 51.5 mof total composite mineralization including 5.85 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 92.5 msection (511.0 to 603.5 m);
  • AR-19-238c3 intersected 28.0 mof total composite mineralization including 5.25 mof total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 101.0 msection (440.0 to 541.0 m);
  • AR-19-248c1 intersected 42.0 m of total composite mineralization including 5.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 88.0 msection (474.0 to 562.0 m).

Drill hole locations are shown in Figure 1, drilling results can be found in table 1. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Activities & Financial

  • Expediting Arrow to Feasibility by initiation of a 2-stage (10 rig) high density drilling program that commenced in mid-December 2018to focus on mine optimization plans based on Measured and Indicated mineral resources.
  • NexGen commenced an Environmental Assessment on the Rook I Project on April 29, 2019in accordance with the requirements of both the Environmental Assessment Act and the Canadian Environmental Assessment Act, 2012 ('CEAA 2012') after receiving acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission ('CNSC') and the Saskatchewan Ministry of Environment ('SMOE'). In addition, NexGen filed an Initial Licence Application with the CNSC under the Nuclear Safety and Control Act in order to obtain a Licence to Prepare Site and Construct for the Project.
  • As of July 1, 2019, the Company had cash-on-hand of approximately $85 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: 'The largest drill program currently in Canadaand in the Company's history continues to rapidly advance Arrow through to Feasibility Study, detailed design and permitting. These results once again demonstrate the uniqueness of Arrow in terms of high grade and continuity. With the broader team advancing all aspects of development, community and permitting, it is an exciting time at NexGen.'

Troy Boisjoli, Vice-President, Operations and Project Development, commented: 'This latest batch of radioactivity results from the A2 and A3 High-Grade Domains, again demonstrates our confidence in the continuation of the high-grade mineralization across the Arrow Deposit. The strength of mineralization seen as part of this mine plan development drilling is truly unique and something I've never seen in my career. Not only are we seeing continuity of strong mineralization but also in rock competency throughout the mine plan. We are looking forward to the completion of Phase I (conversion of Indicated Mineral Resource to the measured category) and the start of Phase II (conversion of Inferred Mineral Resource to the Indicated category).'

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-19-229c5

327

-65

681.00

N/A

464.00

465.00

1.00

469.00

469.50

0.50

472.00

472.50

0.50

480.50

487.50

7.00

490.00

491.00

1.00

495.50

501.00

5.50

504.50

511.00

6.50

513.50

522.50

9.00

525.00

537.50

12.50

615.00

659.00

44.00

AR-19-230c4

327

-65

693.50

N/A

461.50

463.50

2.00

502.00

502.50

0.50

505.00

507.50

2.50

514.00

522.50

8.50

533.50

534.50

1.00

559.00

563.50

4.50

567.00

567.50

0.50

601.50

608.50

7.00

615.00

617.50

2.50

624.00

628.50

4.50

639.00

639.50

0.50

643.00

647.00

4.00

655.00

656.00

1.00

660.00

660.50

0.50

666.50

668.00

1.50

AR-19-232c4

327

-65

645.50

N/A

495.00

496.00

1.00

547.00

549.00

2.00

551.50

552.00

0.50

559.00

572.50

13.50

579.50

581.50

2.00

584.50

585.00

0.50

596.00

598.50

2.50

601.50

605.00

3.50

609.00

609.50

0.50

613.50

614.00

0.50

500 - 2700

617.50

618.00

0.50

AR-19-233c4

327

-65

558.50

N/A

452.00

458.00

6.00

462.00

462.50

0.50

465.50

466.00

0.50

484.50

497.00

12.50

506.50

521.00

14.50

525.00

528.50

3.50

500 - 1350

AR-19-234c3

327

-65

537.00

N/A

460.00

461.50

1.50

479.00

484.00

5.00

487.50

511.00

23.50

AR-19-236c3

327

-65

684.50

N/A

461.50

462.50

1.00

468.50

469.50

1.00

476.50

477.00

0.50

590 - 21000

483.00

486.00

3.00

488.50

489.50

1.00

498.50

499.50

1.00

505.00

506.00

1.00

515.50

529.50

14.00

534.50

535.00

0.50

542.50

543.50

1.00

578.00

586.00

8.00

591.00

593.00

2.00

596.50

601.50

5.00

604.00

617.00

13.00

620.50

635.50

15.00

638.50

644.50

6.00

648.00

649.00

1.00

654.00

664.00

10.00

677.50

678.00

0.50

AR-19-236c4

327

-65

699.50

N/A

463.00

463.50

0.50

473.50

474.00

0.50

477.00

478.00

1.00

483.00

483.50

0.50

490.00

490.50

0.50

501.00

502.00

1.00

509.00

509.50

0.50

515.00

517.00

2.00

519.50

533.00

13.50

548.00

548.50

0.50

589.00

589.50

0.50

594.00

599.00

5.00

607.00

609.50

2.50

616.50

618.00

1.50

622.00

624.00

2.00

631.50

632.50

1.00

635.00

651.50

16.50

658.00

665.50

7.50

671.00

672.00

1.00

AR-19-237c1

327

-65

705.50

128.00

302.00

302.50

0.50

496.00

497.00

1.00

532.50

533.00

0.50

545.50

549.50

4.00

556.50

558.50

2.00

565.50

567.00

1.50

570.50

571.50

1.00

640.00

645.50

5.50

648.00

664.00

16.00

667.00

667.50

0.50

671.50

672.00

0.50

677.50

684.50

7.00

690.00

690.50

0.50

AR-19-237c2

327

-65

720.50

N/A

504.00

504.50

0.50

520.50

522.00

1.50

546.00

546.50

0.50

554.50

555.00

0.50

560.50

561.00

0.50

563.50

566.50

3.00

570.00

571.00

1.00

560 - 12800

578.00

580.50

2.50

583.50

584.00

0.50

900 - 34000

639.00

648.50

9.50

651.00

670.50

19.50

678.00

684.00

6.00

686.50

688.00

1.50

718.00

718.50

0.50

AR-19-237c3

327

-65

738.50

N/A

450.50

451.00

0.50

510.00

510.50

0.50

526.00

526.50

0.50

554.00

560.00

6.00

565.00

568.00

3.00

573.50

575.50

2.00

581.00

583.00

2.00

587.00

588.00

1.00

595.50

596.00

0.50

642.00

646.50

4.50

652.00

677.50

25.50

686.00

686.50

0.50

691.00

692.50

1.50

696.50

697.50

1.00

600 - 13000

700.00

705.00

5.00

AR-19-238c1

327

-65

513.50

141.50

438.00

445.00

7.00

447.50

448.00

0.50

454.00

455.50

1.50

458.50

463.50

5.00

466.50

467.00

0.50

1300 - 61000

471.50

482.50

11.00

487.50

491.00

3.50

498.00

501.00

3.00

AR-19-238c2

327

-65

522.50

N/A

426.00

426.50

0.50

448.50

450.50

2.00

455.00

456.50

1.50

466.00

467.00

1.00

472.00

476.50

4.50

482.50

492.00

9.50

AR-19-238c3

327

-65

540.50

N/A

458.50

461.50

3.00

467.00

468.00

1.00

477.50

478.00

0.50

487.50

490.00

2.50

496.50

517.50

21.00

AR-19-238c4

327

-65

542.50

N/A

457.00

457.50

0.50

473.50

476.50

3.00

480.50

481.00

0.50

670 - 28000

499.50

503.00

3.50

506.50

522.50

16.00

AR-19-239c1

327

-65

729.50

133.00

229.50

230.00

0.50

452.50

453.00

0.50

479.00

479.50

0.50

487.00

488.50

1.50

499.50

500.50

1.00

513.50

514.00

0.50

517.50

520.50

3.00

524.50

525.00

0.50

533.00

540.50

7.50

546.00

546.50

0.50

550.50

558.50

8.00

561.00

567.50

6.50

573.00

573.50

0.50

579.50

589.50

10.00

592.00

593.00

1.00

601.50

602.50

1.00

651.00

667.50

16.50

671.00

672.50

1.50

679.50

680.00

0.50

620 - 9800

682.50

690.50

8.00

698.50

701.00

2.50

AR-19-239c2

327

-65

756.50

N/A

457.50

458.00

0.50

491.00

497.00

6.00

520.00

520.50

0.50

1700 - 41000

523.00

526.00

3.00

528.50

533.50

5.00

536.00

537.00

1.00

540.00

540.50

0.50

548.00

549.00

1.00

555.50

561.50

6.00

567.50

568.00

0.50

571.50

585.50

14.00

596.00

603.50

7.50

621.50

623.00

1.50

642.00

643.00

1.00

667.50

668.00

0.50

675.00

675.50

0.50

682.00

685.00

3.00

687.50

688.50

1.00

694.00

698.50

4.50

703.50

717.50

14.00

721.00

739.50

18.50

743.50

746.00

2.50

AR-19-240c1

327

-65

702.50

130.70

506.00

507.00

1.00

524.00

524.50

0.50

2300 - 30600

529.50

530.50

1.00

538.50

539.00

0.50

545.50

550.00

4.50

571.00

574.50

3.50

578.00

579.00

1.00

587.50

588.00

0.50

605.00

607.00

2.00

619.00

642.00

23.00

651.50

654.00

2.50

660.00

668.00

8.00

672.00

676.00

4.00

AR-19-240c2

327

-65

714.00

N/A

514.50

515.00

0.50

526.50

527.50

1.00

530.50

531.00

0.50

544.00

548.50

4.50

582.00

584.50

2.50

606.50

607.00

0.50

610.50

611.50

1.00

615.00

616.00

1.00

621.00

621.50

0.50

626.00

628.50

2.50

632.00

651.50

19.50

656.00

656.50

0.50

680.00

680.50

0.50

AR-19-241c1

327

-65

600.50

137.30

412.00

415.50

3.50

447.00

449.50

2.50

456.00

458.00

2.00

465.00

465.50

0.50

474.50

478.00

3.50

543.00

543.50

0.50

556.50

557.00

0.50

562.00

571.00

9.00

AR-19-241c2

327

-65

615.50

N/A

411.00

414.50

3.50

423.50

424.00

0.50

445.50

449.50

4.00

455.00

456.00

1.00

463.50

467.50

4.00

472.00

475.00

3.00

505.50

506.50

1.00

570.00

583.50

13.50

AR-19-242c1

327

-65

606.50

138.00

453.00

453.50

0.50

483.50

484.50

1.00

492.50

493.50

1.00

514.50

516.50

2.00

521.50

543.00

21.50

547.00

572.00

25.00

AR-19-242c2

327

-65

603.50

N/A

486.50

488.00

1.50

491.50

494.00

2.50

497.50

498.00

0.50

523.00

531.00

8.00

533.50

540.50

7.00

543.50

579.50

36.00

583.50

584.00

0.50

AR-19-243c1

327

-65

693.50

123.40

323.50

324.00

0.50

518.50

519.50

1.00

522.00

523.00

1.00

528.50

529.50

1.00

540.50

543.00

2.50

550.00

550.50

0.50

557.50

558.50

1.00

561.50

562.00

0.50

569.50

577.50

8.00

580.00

582.50

2.50

589.00

589.50

0.50

613.50

615.50

2.00

632.50

636.00

3.50

642.50

643.00

0.50

645.50

648.00

2.50

AR-19-243c2

327

-65

696.50

N/A

512.00

512.50

0.50

522.50

523.00

0.50

520 - 9800

528.00

530.00

2.00

555.50

556.00

0.50

565.50

566.00

0.50

570.50

571.00

0.50

581.00

582.00

1.00

590.50

591.50

1.00

610.00

611.00

1.00

624.50

629.00

4.50

631.50

635.50

4.00

642.00

642.50

0.50

663.00

663.50

0.50

AR-19-243c3

327

-65

678.50

N/A

518.50

519.50

1.00

522.00

526.00

4.00

556.00

557.00

1.00

561.50

562.50

1.00

573.50

575.00

1.50

610.50

627.00

16.50

629.50

631.50

2.00

634.00

639.50

5.50

644.50

645.00

0.50

AR-19-244c1

327

-65

756.00

125.60

480.50

481.50

1.00

538.50

539.50

1.00

558.50

559.00

0.50

570 - 16600

567.00

567.50

0.50

578.00

578.50

0.50

590.50

591.50

1.00

611.50

616.50

5.00

621.00

623.50

2.50

630.00

638.00

8.00

646.50

648.00

1.50

652.50

654.00

1.50

665.50

666.00

0.50

671.00

679.50

8.50

687.50

698.00

10.50

705.00

709.00

4.00

714.50

719.00

4.50

AR-19-245c1

327

-65

609.00

138.80

418.00

420.00

2.00

425.00

431.00

6.00

435.00

437.00

2.00

448.00

449.00

1.00

452.00

477.00

25.00

574.00

580.00

6.00

587.50

588.50

1.00

AR-19-245c2

327

-65

774.50

N/A

420.50

421.50

1.00

426.00

432.00

6.00

440.00

441.50

1.50

453.00

456.00

3.00

458.50

483.50

25.00

578.50

589.00

10.50

666.00

667.00

1.00

679.00

690.50

11.50

696.50

697.00

0.50

728.00

728.50

0.50

742.50

748.50

6.00

AR-19-245c3

327

-65

636.50

N/A

429.00

429.50

0.50

690 - 13100

435.00

435.50

0.50

590 - 3320

449.50

454.00

4.50

458.00

458.50

0.50

580 - 14600

463.00

487.00

24.00

576.50

577.00

0.50

581.00

581.50

0.50

584.00

586.50

2.50

589.00

589.50

0.50

598.00

606.50

8.50

AR-19-246c1

327

-65

735.50

130.20

442.50

443.00

0.50

464.00

464.50

0.50

481.00

481.50

0.50

488.50

489.50

1.00

530.00

532.00

2.00

536.50

539.00

2.50

546.50

550.00

3.50

552.50

554.50

2.00

563.00

569.50

6.50

582.00

582.50

0.50

575 - 13800

596.50

602.50

6.00

607.00

607.50

0.50

628.50

629.00

0.50

632.00

636.00

4.00

638.50

639.00

0.50

646.00

660.00

14.00

664.50

692.50

28.00

701.00

701.50

0.50

720.50

723.50

3.00

726.00

726.50

0.50

730.00

731.00

1.00

AR-19-247c1

327

-65

696.00

126.55

499.00

500.50

1.50

519.00

519.50

0.50

526.50

531.50

5.00

545.50

554.50

9.00

617.50

618.00

0.50

621.00

643.50

22.50

648.50

649.00

0.50

658.50

662.00

3.50

AR-19-247c2

327

-65

711.50

N/A

488.00

488.50

0.50

506.50

507.00

0.50

518.50

519.00

0.50

535.50

543.00

7.50

547.50

548.00

0.50

556.50

558.00

1.50

565.50

573.00

7.50

618.50

621.00

2.50

635.50

641.00

5.50

644.50

649.00

4.50

664.00

664.50

0.50

669.00

672.00

3.00

676.00

678.00

2.00

681.00

681.50

0.50

AR-19-248c1

327

-65

564.50

138.70

166.50

167.00

0.50

431.00

431.50

0.50

459.00

460.00

1.00

481.00

481.50

0.50

750 - 1300

485.00

493.50

8.50

498.00

498.50

0.50

1600 - 40000

501.00

501.50

0.50

540 - 31000

506.50

507.00

0.50

2000 - 61000

510.50

542.00

31.50

AR-19-248c2

327

-65

582.50

N/A

471.50

476.50

5.00

496.50

497.00

0.50

499.50

502.00

2.50

506.00

506.50

0.50

3500 - 61000

510.00

511.50

1.50

515.50

517.00

1.50

519.50

558.50

39.00

AR-19-248c3

327

-65

588.50

N/A

472.50

484.00

11.50

487.50

488.50

1.00

502.50

506.00

3.50

508.50

512.50

4.00

515.50

519.50

4.00

522.00

526.00

4.00

529.00

530.00

1.00

534.00

539.50

5.50

542.00

545.00

3.00

553.50

564.00

10.50

571.50

577.50

6.00

AR-19-249c1

327

-65

780.00

135.15

271.00

271.50

0.50

462.00

464.00

2.00

483.00

484.00

1.00

499.50

500.00

0.50

503.50

505.50

2.00

517.50

521.00

3.50

531.00

532.00

1.00

556.50

559.00

2.50

570.50

571.00

0.50

580.00

589.00

9.00

592.00

596.00

4.00

601.50

603.50

2.00

618.50

619.00

0.50

630.00

634.50

4.50

643.00

643.50

0.50

666.00

666.50

0.50

682.50

683.50

1.00

686.50

704.00

17.50

716.50

717.00

0.50

720.00

720.50

0.50

723.00

727.00

4.00

731.00

741.50

10.50

747.50

749.50

2.00

AR-19-249c2

327

-65

783.50

N/A

473.00

475.50

2.50

487.00

490.50

3.50

501.50

503.50

2.00

513.50

514.00

0.50

540.00

541.50

1.50

565.50

566.00

0.50

800 - 30000

570.00

571.00

1.00

588.00

593.00

5.00

595.50

596.50

1.00

600.50

615.50

15.00

620.00

621.00

1.00

635.00

652.00

17.00

658.00

660.50

2.50

663.00

663.50

0.50

691.50

698.00

6.50

701.00

708.00

7.00

711.00

712.00

1.00

717.00

737.50

20.50

741.00

748.50

7.50

AR-19-250c1

327

-65

732.50

124.70

489.50

490.00

0.50

539.50

540.50

1.00

543.50

547.00

3.50

553.50

559.00

5.50

561.50

562.00

0.50

1400 - 61000

580.50

581.00

0.50

583.50

584.50

1.00

595.00

595.50

0.50

605.00

606.50

1.50

610.50

611.00

0.50

614.50

615.50

1.00

636.50

637.00

0.50

644.50

645.00

0.50

652.50

668.00

15.50

AR-19-250c2

327

-65

744.00

N/A

490.00

491.00

1.00

531.00

531.50

0.50

544.00

545.50

1.50

553.00

556.00

3.00

560.00

566.50

6.50

586.50

587.00

0.50

592.50

593.00

0.50

606.00

608.50

2.50

615.50

616.00

0.50

636.50

637.50

1.00

647.00

649.50

2.50

653.00

668.00

15.00

693.50

700.50

7.00

AR-19-250c3

327

-65

756.50

N/A

429.00

429.50

0.50

492.50

493.00

0.50

533.00

533.50

0.50

547.50

548.50

1.00

554.00

565.00

11.00

567.50

568.50

1.00

576.00

576.50

0.50

585.00

586.00

1.00

592.50

593.00

0.50

604.50

605.00

0.50

608.00

612.00

4.00

614.50

615.50

1.00

623.50

625.00

1.50

627.50

628.00

0.50

651.00

651.50

0.50

655.50

658.00

2.50

662.50

676.00

13.50

679.50

680.00

0.50

686.00

687.50

1.50

695.50

696.00

0.50

Parameters:

  • Maximum internal dilution 2.00 mdownhole
  • 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 Statesfederal 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, 2019under '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.

View original content to download multimedia:http://www.prnewswire.com/news-releases/nexgen-continues-to-intersect-high-grade-mineralization-in-all-a2-and-a3-targets-highlighting-strength-of-continuity-at-arrow-300882406.html

SOURCE NexGen Energy Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2019/10/c0542.html

Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, [email protected], www.nexgenenergy.ca; Travis McPherson, Vice President Corporate Development, NexGen Energy Ltd., +1 604 428 4112, [email protected], http://www.nexgenenergy.caCopyright CNW Group 2019