NexGen Announces Discovery of New Intense Mineralization in Greenfields Discovery 3.5 Kilometers from Arrow
NexGen Announces Discovery of New Intense Mineralization in Greenfields Discovery 3.5
Kilometers from Arrow
Vancouver, BC, March 11, 2024 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE)
(NYSE: NXE) (ASX: NXG) is pleased to announce the discovery of new intense uranium mineralization on
its 100% owned SW2 Property, 3.5 kilometers (km) east of NexGen’s world-class Arrow Deposit (Figure 1).
The new mineralized occurrence in RK-24-183 is located on a previously untested conductor segment of
Patterson Corridor East (“PC E”). Localized uranium mineralization was intersected for 19.8 meters (m)
between 347.7 and 367.5 m, with peaks up to >61,000 counts per second (cps) *. Exploration is
predominantly open in all directions including over 1.5 km along strike (Figures 2 and 3).
Leigh Curyer, Chief Executive Officer, commented: “Ten years after the discovery of our world-class Arrow
deposit, we are thrilled to be sharing this exciting news . This new intercept reflects the high potential of
NexGen's extensive land package in the south-western section of the Athabasca Basin, Saskatchewan and
is a testament to the strategic and disciplined approach to identifying new Arrow -type zones of
mineralization. Drilling activity is being fully dedicated to this new discovery area to advance our
understanding of scope and scale of mineralization. This hole which intersected 3.0 m of up to 61,000 cps
is significantly better on all metrics than RK -14-21(the Arrow discovery hole) which intersected less than
0.5 m of greater than 9,999 cps.
“I would like to take the opportunity to congratulate and acknowledge the fine dedicated work of the
NexGen geological team. Our understanding of the markers of mineralization in the region improve with
every drill hole and geophysical survey, and the NexGen exploration programs of the past years have been
extremely valuable in contributing to this result. Our highly prospective land position in the south -western
section of the mighty Athabasca Basin is still in its infancy, and a significant amount of exploration is in front
of us to fully define the extent of mineralization at this location and the balance of Rook I / SW2.”
Follow up drilling intersected anomalous features including hematite -quartz breccia, strong silicification,
dravitic clay fracture fill, redox alteration, and elevated radioactivity similar to early discovery holes at Arrow
in 2014 at the upper limits of that system. Kinematics indicate reverse displacement synonymous with the
interpreted structural setting. Use of geological spatial relationships observed at Arrow allows for controlled
vectoring of additional drill targets across the prospective hydrothermal system which spans over 1.5 km.
Results to date indicate potential that extends along strike and down dip.
The overall setting is an approximate analog for the structural controls of Arrow. The target area lies within
a large gravity low coupled with a series of disjointed conductive responses. An interpreted regional, north-
south cleavage plane bisects the gravity low. A cleavage plane is also interpreted to connect Arrow, South
Arrow, and Camp East. Sinistral, strike-slip displacement via contractional jog was hypothesized to account
for the geophysical characteristics. This movement sense compares favourably with the sinistral, strike-slip
reactivation noted as a key contributor to deposit formation at Arrow.
This is a Designated News Release
Semi-massive replacement by uranium mineralization is tied to brittle-ductile reactivation of steeply dipping,
discrete shear zones bracketed by silicified orthogneiss. Localized semi -massive mineralization includes
primary uraninite and secondary uranium minerals. Textural characteristics of mineralization and associated
alteration indicate a well -developed hydrothermal system with fluid pathways provided by the structural
disruption. In particular, the role of bounding silicification , mineralization style, and stacked brittle -ductile
faults are analogous to features found at Arrow (Figures 4 to 7).
Figure 1: New occurrence on PCE relative to Arrow
Figure 2: PCE occurrence with area of interest for further exploration outlined, 2024 drillholes shown as green dots
Figure 3: RK-24-183 mineralization is similar to Arrow holes that intercepted within the area highlighted in red above;
Arrow figure from 2021 Rook I Feasibility Study
Figure 4: Localized basement-hosted uranium mineralization between 347.7 and 367.5 m (outlined in yellow)
Figure 5: Semi-massive, primary uranium mineralization at 348.5 m, maximum peak of 47,200 cps as shown
Figure 6: Semi-massive, primary uranium mineralization hosted in competent garnetiferous orthogneiss at 356.9 m,
maximum peak of >61,000 cps
Figure 7: Secondary mineralization along microfractures and foliation at 367.3 m, maximum peak of 28,500 cps
Table 1: Spectrometer results to date
Drillhole
Unconformity
Depth (m)
Handheld Spectrometer Results (RS -125)
Hole ID Azimuth Dip
Total
Depth
(m)
From (m) To (m) Width
(m) CPS Range
RK-24-179 310 -70 462.0 138.0 141.0 141.5 0.5 <500 - 1,100
150.0 157.0 7.0 <500 - 560
RK-24-180 310 -70 366.0 N/A No Significant Intersections
RK-24-181 310 -70 573.0 115.7 191.5 192.0 0.5 <500
RK-24-182 310 -70 411.0 N/A No Significant Intersections
RK-24-183 310 -70 527.0 125.3 347.7 350.0 2.3 500 - 52,000
350.0 351.0 1.0 <500 - 1,200
351.0 354.0 3.0 700 - 16,200
354.0 355.0 1.0 <500 - 570
355.0 358.0 3.0 1,300 -
>61,000
358.0 358.8 0.8 790 - 2,100
358.8 362.5 3.7 <500 - 680
362.5 363.0 0.5 <500 - 1,070
363.0 365.0 2.0 <500
365.0 365.5 0.5 800 - 7,700
365.5 367.0 1.5 <500
367.0 367.5 0.5 <500 - 28,000
RK-24-184 280 -70 534.0 137.70 No Significant Intersections
RK-24-185 310 -70 399.0 N/A 312.5 313.5 1.0 <500
335.0 335.5 0.5 <500
RK-24-186 310 -70 440.0 128.2 181.5 182.0 0.5 <500 - 700
211.0 212.0 1.0 <500 - 600
RK-24-187 310 -70 501.0 116.8 163.0 164.5 1.5 <500
191.0 191.5 0.5 <500 - 830
RK-24-188 310 -70 510.0 120.5 338.0 340.0 2.0 <500
410.5 412.5 2.0 <500
418.5 421.5 3.0 <500
• All depths and intervals are meters downhole, true thicknesses are yet to be determined.
• “Off-scale” refers to >61,000 cps total readings by gamma spectrometer type RS-125
• Unconformity of ‘N/A’ denotes a lack of visible contact between Athabasca sandstone and basement rock.
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 standards in environmental and social governance. The Rook
I Project is supported by a NI 43 -101 compliant Feasibility Study which outlines the elite enviro nmental
performance and industry leading economics. The Project is located in the Province of Saskatchewan,
Canada - a world leading uranium producing Province expressly committed to advancing nuclear energy
opportunities that sustainably promote economic growth and reduce greenhouse gas emissions.
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. NexGen’s 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
www.nexgenenergy.ca
Travis McPherson
Chief Commercial Officer
NexGen Energy Ltd.
+1 604 428 4112
www.nexgenenergy.ca
Monica Kras
Vice President, Corporate Development
+44 7307 191933
www.nexgenenergy.ca
Technical Disclosure*
All technical information in this news release has been reviewed and approved by Jason Craven, NexGen's
Manager, 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.sedar.com ) and EDGAR
(www.sec.gov/edgar.shtml ) and is available for review on NexGen Energy's websit e
(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 a n 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 produc tion, 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 ex pected 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 inf ormation 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 nume rous 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