NexGen Announces the Completion of the Provincial Environmental Assessment Technical Review and Submission of the Final Environmental Impact Statement
NexGen Announces the Completion of the Provincial Environmental Assessment Technical Review
and Submission of the Final Environmental Impact Statement
Vancouver, BC, August 21, 2023 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE)
(ASX: NXG) is pleased to announce a major milestone in the advancement of regulatory approvals for the 100%
owned Rook I Project (“Rook I” or the “Project”) with the completion of the Provincial Environmental
Assessment (“EA”) technical review process and submission of the Final Provincial Environmental Impact
Statement (“EIS”) to the Saskatchewan Ministry of Environment (“ENV”).
The Project, located in the uranium -rich district of Saskatchewan’s southwestern Athabasca Basin, includes
underground and surface facilities to support the mining and processing of uranium ore from the Arrow Deposit.
The ENV have confirmed completion of their conformity review of the revised EIS submitted by NexGen on July
5, 2023, and the planned advancement of the Provincial EA to the public review stage.
Leigh Curyer, Chief Executive Officer commented : “The submission of the Final Provincial EIS to the
Saskatchewan Ministry of Environment is a significant step in the regulatory advancement of the Rook I Project.
It marks the completion of a robust and thorough Provincial technical review process, and incorporates the
diverse perspectives of multiple Provincial agencies and stakeholders with deep experience in uranium mining.
We are incredibly proud of the contribution and partnership of all four local Indigenous communities in the local
project area whom, through industry -leading Benefit Agreements, have all confirmed their formal and legal
consent for the Company and Project throughout its entire lifespan. In parallel to today’s exciting milestone, we
focus on the successful completion of the Federal EA and licensing process working diligently on delivering
generational benefits to Saskatchewan and Canada to secure the clean energy transition for the globe.”
Provincial EA Next Steps
The next step under the Provincial EA process is the conduct of a 30-day Provincial public review. The ENV has
commenced preparing the materials required for Provincial public review scheduled to commence on or prior to
September 2, 2023 . Subsequent to completion of this 30-day public review period, ENV staff will compile the
requisite EA materials and prepare a re commendation to the Saskatchewan Minister of Environment, who will
then render a Ministerial decision on the advancement of the Project.
Federal EA and Licensing Update
In parallel to the ongoing Provincial EA process, NexGen is in the final stages of completing responses to the
Federal technical and public review comments received on the Draft EIS through the Federal EA review process
completed in Q4 2022.
Through a cooperative Provincial -Federal E A process, the ENV and Canadian Nuclear Safety Commission
(“CNSC”) continue to share information, while providing a comprehensive EA process in accordance with the
separate requirements that apply and must be satisfied with respect to the Acts, regulations, and guidelines in
place for each of the respective jurisdictions.
NexGen has conducted an integrated approach to the Federal EA and licensing processes for the Project whereby
information to support the Federal license application has been submitted to the CNSC in a staged manner since
2019 to ensure alignment between the EA and licensing documentation. During Q2 2023, NexGen completed
submission of all the final components of the complete license application package to the CNSC.
Indigenous and Public Engagement
Engagement with local Indigenous Groups , local communities, residents, businesses, organizations, land users ,
and regulatory authorities is foundational to the responsible development of resource projects . Since 2013,
NexGen has worked closely with local communities and those expressing interest in the Project reflecting
meaningful, long-term relationships based on transparency, respect, and trust.
NexGen’s approach to the EA process has focused on enabling dialogue with and seeking feedback from
Indigenous Groups who could potentially be affected by the proposed Project. To facilitate engagement with local
Indigenous Groups, NexGen entered into Study Agreements with each of the Clearwater River Dene Nation
(“CRDN”), Métis Nation – Saskatchewan (“MN-S”) on behalf of MN-S Northern Region 2 (“NR2”), Birch Narrows
Dene Nation (“BNDN”), and Buffalo River Dene Nation (“BRDN”) in 2019. The Study Agreements formalized the
engagement approaches that support each primary Indigenous Group’s participation in the entire EA process,
including capacity funding for engagement and retention of technical support. The Study Agreements also fully
funded the completion of self -directed Indigenous Knowledge and Traditional Land Use Studies by each
Indigenous Group that were valuable sources of information incorporated by NexGen in conducting the EA.
In addition, the Study Agreements facilitated the framework in which NexGen and each Indigenous Group
negotiated in good faith to formalize the Benefit Agreements. The Benefit Agreements define the environmental,
cultural, economic, training, employment, business opportunities, and other benefits to be provided to the
Indigenous Groups by NexGen and to confirm the consent and support of those Indigenous Groups for the Project.
Consequently, NexGen signed Benefit Agreements with each of the four communities in the local project area.
These four Indigenous Groups (i.e., the CRDN, MN -S NR2, BNDN, and BRDN) collectively represent the First
Nation and Métis communities fo r which the ENV assigned procedural aspects of the Duty to Consult for the
Project to NexGen, and which have been identified by NexGen as the primary Indigenous Groups for consultation
in consideration of the Federal requirements of the CNSC.
Rook I Project Environmental Impact Statement
NexGen conducted the EA pursuant to The Environmental Assessment Act of Saskatchewan and the Canadian
Environmental Assessment Act, 2012 . Data and analyses on the potential positive and adverse effects from the
Project are included in the EIS, as well as the mitigation measures and monitoring and management programs to
be implemented by NexGen. Other important aspects of the EIS include the demonstration of meaningful
engagement with affected Indigenous Groups, loc al communities, and the public, and the incorporation of
Indigenous and Local Knowledge into the EA.
The Final Provincial EIS incorporates and addresses information from technical review comments provided by
the ENV fulfilling a key aspect of meeting Provincial requirements so that the ENV can make an informed
decision regarding Project approval.
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
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
socially, technically, and environmentally leads the entire mining industry. 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
Travis McPherson
Chief Commercial Officer
NexGen Energy Ltd.
+1 604 428 4112
Monica Kras
Vice President, Corporate Development
+44 7307 191933
Technical Disclosure
All technical information in this news release has been reviewed and approved by Kevin Small, NexGen's Senior
Vice President, Engineering and Operations, a qualified person under National Instrument 43-101.
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 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 c ontains "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 invo lve 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, assump tions,
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 i nformation 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 managem ent 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 February 24, 2023 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.sedar.com 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.