NexGen Announces the Commencement of an Environmental Assessment for the Rook I Project
NexGen Announces the Commencement of an Environmental
Assessment for the Rook I Project
Vancouver, BC, April 29, 2019 – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, NYSE MKT:NXE)
is pleased to announce the acceptance of a Project Description (Technical Proposal) by the Canadian Nuclear
Safety Commission (“CNSC”) and the Saskatchewan Ministry of Environment (“MOE”). The acceptance marks the
commencement of an Environmental Assessment (“EA”) on the Rook I Project (the "Project") in accordance with
the requirements of both The Environmental Assessment Act (Province of Saskatchewan) and the Canadian
Environmental Assessment Act, 2012 “CEAA 2012” (Government of Canada). The EA will be conducted through
a coordinated process between the MO E and the CNSC, which is the Federal life-cycle regulator for all uranium
mine and mill projects in Canada.
NexGen has also file d 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.
Project Summary
The Project is a proposed uranium mining and milling operation that will be 100% owned and operated by
NexGen. It is in the southwestern Athabasca Uranium Basin region in northern Saskatchewan, Canada
approximately 155 km north of the town of La Loche, 80 km south of the former Cluff Lake uranium mine
(currently in decommissioning) and 640 km by air north west of Saskatoon. The mineral resource ba se for the
Project is the Arrow Deposit, a land-based, basement-hosted uranium Deposit.
Exploration at Rook I be gan in 2013 yet prior to this initial exploration NexGen engaged regularly with and
established relationships with local Indigenous communities and has helped to facilitate a number of community
advancement initiatives around three pillars: education, econ omic capacity building and health/wellness . The
Company was recently recognized for their involvement in community outreach and environmental stewardship
by the Prospectors and Developers Association of Canada (PDAC) with the 2019 Environment and Social
Responsibility Award. NexGen respects the unique relationship Indigenous peoples have with the environment,
the rights of Indigenous peoples with respect to the land and recognizes the importance of full , open and
transparent discussion with interested and/or affected communities throughout the EA and all phases of the
Project.
The Project as proposed will include underground and surface facilities to support the mining and processing of
uranium ore from the Arrow Deposit. The main components included in the scope of the Project for the EA,
include:
• Underground mine development;
• On-site mill to process uranium ore;
• Surface facilities to support the short and long-term storage of waste rock and ore;
• An underground tailings management facility to store all mining tailings underground (UGTMF);
• Water handling infrastructure and an effluent treatment circuit;
• Additional infrastructure that will include a camp for personnel, an airstrip for transporting pe rsonnel,
supporting waste and water management facilities, maintenance shop, warehouse, and offices;
Leigh Curyer, Chief Executive Officer, commented, “The Company is excited to work with all stakeholders during
the EA process to meet the Company’s objectives of setting a new elite standard in global environmental mine
management and community advancement. With over 5 years of detailed data on the project being collected,
analysed, verified independently and working alongside local communities, the Company is in a unique position
to advance the next stage of this exciting project development optimally.”
With the commencement of the EA, NexGen is conducting required studies and building on comprehensive
environmental baseline monitoring which is already well advanced. In addition to NexGen’s team of experienced
professionals, NexGen has engaged leading experts to conduct and support these studies and to support the
development and submission of the Environmental Impact Statement required by the Province of Saskatchewan
and the CNSC. Throughout the various stages of project development, NexGen is committed to the incorporation
of innovative environmental designs and is committed to setting elite standards for environmental mine
performance globally.
New Website:
Please visit our Rook I project website at www.saskatchewanuranium.ca for much more detail on the project and
initiatives underway.
For any inquiries regarding the EA process, please contact NexGen at: 1 -833-333-8895 or by emailing the
Company at: [email protected].
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 thro ugh 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 discover y 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.
Contact Information
Leigh Curyer
Chief Executive Officer
NexGen Energy Ltd.
+1 604 428 4112
www.nexgenenergy.ca
Travis McPherson
Vice President Corporate Development
NexGen Energy Ltd.
+1 604 428 4112
http://www.nexgenenergy.ca
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 accor dance 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 mo nitoring
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 standard s, 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 c ategory. 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 un der 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 contai ned or referenced in this news release containing descriptions of the Company’s mineral
deposits may not be comparable to similar information made public by U.S. companies subject to the reporting
and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.
Technical Information
For details of the Rook I Project including the quality assurance program and quality control measures applied
and key assumptions, parameters and methods used to estimate the Mineral Resource please refer to the
technical report entitled " Arrow Deposit, Rook I Project Saskatchewan NI 43 -101 Technical Report on Pre -
feasibility 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 whic h 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 informat ion 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 result s, 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 Com pany's title to its properties,
uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and
licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors
discussed or referred to in the Company's Annual Information Form dated March 4, 2019 under "Risk Factors".
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in the forward-looking information or implied by forward -looking information,
there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information and statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on forward-looking statements or information. The Company undertakes
no obligation to update or reissue forward -looking information as a result of new information or events except
as required by applicable securities laws.
SOURCE NexGen Energy Ltd.