NexGen Announces First Uranium Sales Contracts for 5 Million Pounds with Major US Utilities
NexGen Announces First Uranium Sales Contracts for 5 Million Pounds with Major US
Utilities
• Contracts feature market-related pricing mechanisms at time of delivery aligned with
NexGen's stated marketing strategy
• Strategic short-term agreements position NexGen to maximize value in strengthening
uranium market
Vancouver, BC, December 4, 2024 – NexGen Energy Ltd. (“NexGen” or the “Company”)
(TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce it has been awarded the first
uranium sales agreements with multiple leading US nuclear utility companies.
These inaugural awards all incorporate market-related pricing mechanisms at the time of delivery.
They reflect NexGen’s long stated focus of maximizing leverage to future uranium prices and the
Company’s positioning as a new reliable Western World source of nuclear fuel incorporating the
highest standards of technical, environmental and social inclusion from the tier one jurisdiction of
Saskatchewan Canada.
The table below sets out the aggregate delivery quantities of uranium contemplated in the sales
agreements, together with the expected gross sales revenue based on various assumed spot
prices:
Realised Weighted Volume Average Price Realised Table (excludes escalation):
1M lbs U3O8 per annum
Uranium
Price
($/lbs. U3O8)
2029 2030 2031 2032 2033
$80 $79 $79 $79 $79 $79
$100 $99 $99 $99 $99 $99
$150 $141 $141 $141 $141 $141
$175 $150 $150 $150 $150 $150
*excludes ancillary commissions and costs of delivery
Uncommitted pounds of Probable Mineral Reserves remaining (as per NI 43-101 Rook I Project Feasibility
Study): 231,660,000 lbs U3O8
Leigh Curyer, Chief Executive Officer, commented: “These offtake awards with premier US utilities
represents a pivotal moment for NexGen. They underscore the premier quality and scalability of
the Rook I Project, whilst offering diversification of supply from existing centralised sources.
Further, the terms of these awards reflect market related pricing mechanisms at the time of
delivery reflecting NexGen’s long -term stated strategy of optimizing the value of each pound
produced.
Energy demand from reliable sources is increasing by the week with the need to expand existing
nuclear energy infrastructure and the construction of power consuming data centres at a time the
security of uranium supply is under significant technical and sovereign risk.
The contract awards are in parallel to ongoing discussions and negotiations with additional US,
European and Asian utilities, which further complement NexGen's strong financial position and
construction-ready status at Rook I. The Project is poised to become one of the largest and most
environmentally sustainable uranium operations globally. This milestone is another reflection of
NexGen's ability to execute on its strategic vision in advancing its position as a global leader in
the nuclear fuel supply chain.”
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 standard s in environmental and
social governance. The Rook I Project is supported by a NI 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.
For additional information and media inquiries:
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
Monica Kras
Vice President, Corporate Development
NexGen Energy Ltd.
+44 (0) 7307 191933
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 setting industry benchmarks with innovative and sustainable mining sol utions
and reflecting ongoing commitments to maximizing benefits to partners and stakeholders, the successful
execution of the shaft sinking contract, the seamless transition to major construction following anticipated
federal Environmental Assessment and licence approvals, the delivery of clean energy fuel for the future,
the development of the largest low cost producing uranium mine globally and incorporating elite standards
in environmental and social governance, delivering a project that leads the enti re mining industry socially,
technically and environmentally, providing generational long -term economic, environmental and social
benefits for Saskatchewan, Canada and the world, planned exploration and development activities and
budgets, the interpretation of drill results and other geological information, mineral reserve and resource
estimates (to the extent they involve estimates of the mineralization that will be encountered if a project is
developed), requirements for additional capital, capital costs, operating costs, cash flow estimates,
production estimates, the future price of uranium and similar statements relating to the economics of a
project, including the Rook I Project. Generally, forward -looking information and statements can be
identified by the use of forward -looking terminology 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 NexGen’s current expectations, beliefs,
assumptions, estimates and forecasts about its business and the industry and markets in which it operates.
Forward-looking information and statements are made b ased upon numerous assumptions, including,
among others, that, third-party contractors, including Thyssen, will perform their contracts as expected and
on time, the results of planned exploration and development activities will be as anticipated and on tim e;
the price of uranium; the cost of planned exploration and development activities; that, as plans continue to
be refined for the development of the Rook I Project, there will be no changes in costs, engineering details
or specifications that would materi ally adversely affect its viability; 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 and de velopment activities will be
available on reasonable terms and in a timely manner; that there will be no revocation of government
approvals; that general business, economic, competitive, social and political conditions will not change in a
material adverse manner; the assumptions underlying the Company’s mineral reserve and resource
estimates; assumptions made in the interpretation of drill results and other geological information; the ability
to achieve production on the Rook I Project; and other estimates, assumptions and forecasts disclosed in
the Feasibility Study for the Rook I Project. Although the assumptions made by the Company in providing
forward-looking information or making forward -looking statements were considered reasonable by
management at the time they were made, 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 additional financing, the risk that pending ass ay
results will not confirm previously announced preliminary results, the imprecision of mineral reserve and
resource estimates, the price and appeal of alternate sources of energy, sustained low uranium prices,
aboriginal title and consultation issues, ex ploration and development risks, climate change, uninsurable
risks, reliance upon key management and other personnel, risks related to title to its properties, information
security and cyber threats, failure to manage conflicts of interest, failure to obta in or maintain required
permits and licences, changes in laws, regulations and policy, competition for resources, political and
regulatory risks, general inflationary pressures, industry and economic factors that may affect the business,
and other factors discussed or referred to in the Company’s most recent Annual Information Form under
“Risk Factors” and management’s discussion and analysis under “Other Risks Factors” filed on SEDAR+
at www.sedarplus.ca and 40-F filed on 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 b e 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 reli ance 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.