NXE.TO · 2016-11-18 12:00:00

NexGen Intersects Widespread Mineralization at Arrow

Drill Results

Vancouver, BC, November 18, 2016 – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE,

OTCQX:NXGEF) is pleased to report radioactivity results from 38 holes representing the conclusion of our highly

successful summer drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.

At Arrow, strong mineralization continues to be drilled outside of the A2 High Grade Domain. Drill hole AR‐16‐

112c2 intersected 39.0 m of total composite mineralization including 9.1 m of off‐scale radioactivity (>10,000

cps with handheld RS‐120 scintillometer) drilled below the grade shell of the A2 High Grade Domain. Drill hole

AR‐16‐‐111c2 featured 5.0 m of minimum‐greater‐than‐61,000 cps radioactivity also outside of the A2 High

Grade Domain. Additionally, drill hole AR‐16‐104c2 intersected 38.5 m of total composite mineralization

including 5.05 m of off‐scale radioactivity in the A2 shear with the strongest mineralization drilled 32 m below

the A2 High Grade Domain.

With respect to infill drilling, the A2 shear continues to exceed expectations where scissor holes AR‐16‐106c1

and AR‐16‐111c1 intersected 63.0 m of total composite mineralization including 12.1 m of off‐scale

radioactivity and 49.5 m of total composite mineralization including 10.85 m of off‐scale radioactivity,

respectively. Significant mineralization in the A2 shear was also intersected in drill holes AR‐16‐104c3, ‐105c2,

‐106c2, ‐108c3, ‐108c4, ‐109c1, ‐109c3, ‐110c1 and ‐110c2 (see Figure 1).

Also at Arrow, the A3 shear has been significantly expanded where drill hole AR‐16‐105c1 intersected 70.5 m

of total composite mineralization including 7.9 m of off‐scale radioactivity. In addition, drill holes AR‐16‐105c2,

‐105c3, ‐110c1, ‐110c2 and ‐113c1 all intersected significant mineralization in the A3 shear (see Figure 2). In

the A1 shear, AR‐16‐108c3 intersected 18.0 m of total composite mineralization including 3.5 m of off‐scale

radioactivity (see Figure 3).

At Harpoon, a total of 16 holes have been completed since the high grade discovery hole HP‐16‐08 was

reported on August 11, 2016. Several holes intersected broad zones of mineralization including off‐scale

radioactivity beginning at approximately 200 m below surface. Drill hole HP‐16‐13 intersected 16.5 m of

continuous mineralization including 2.95 m of off‐scale radioactivity and HP‐16‐20 intersected 12.5 m of total

composite mineralization including 2.15 m of off‐scale radioactivity. The mineralized footprint at Harpoon has

been traced over a strike length of at least 340 m on the Rook I property (Figure 5), and remains open in all

directions.

A total of 53 assays remain pending from the 2016 drill program; 33 from Arrow (including four A2 Sub‐Zone

holes) and 20 holes from the Harpoon Discovery. In 2016 a total of 96,992 m were drilled at Rook I. A total of

73,091 m were drilled at the Arrow Deposit (132,887 m in total to date), 7,285 m Harpoon and 16,616 m on

regional targets along the Patterson Corridor. Once all pending 2016 assays are received for Arrow, the results

will be incorporated into an updated NI 43‐101 resource scheduled for release in H1 2017. In addition to the

significant growth achieved during the year, the bulk of the A2 High Grade Domain has now been delineated

at a drill hole spacing of 25 m x 25 m or less.

Highlights:

A2 High Grade Domain

 Scissor Hole AR‐16‐111c2 (40 m up‐dip and southwest from AR‐15‐44b) intersected 39.0 m of total

composite mineralization including 12.8 m of total composite off‐scale radioactivity (>10,000 to

>61,000 cps) within a 60.0 m section (524.5 to 584.5 m), and featured 5.0 m of minimum‐greater‐

than‐61,000 cps.

 Scissor hole AR‐16‐106c1 (97 m down‐dip from AR‐15‐44b) intersected 63.0 m of total composite

mineralization including 12.1 m of total composite off‐scale radioactivity (>10,000 to >61,000 cps)

within a 117.5 m section (407.5 to 525.0 m), and featured 2.5 m of minimum‐greater‐than‐61,000 cps.

 Scissor hole AR‐16‐112c2 (126 m down‐dip and southwest from AR‐15‐44b) intersected 37.0 m of

total composite mineralization including 9.1 m of total composite off‐scale radioactivity (>10,000 to

>61,000 cps) within a 45.0 m section (567.0 to 612.0 m), and featured 1.65 m of minimum‐greater‐

than‐61,000 cps.

 Scissor hole AR‐16‐111c1 (77 m up‐dip and southwest from AR‐15‐44b) intersected 49.5 m of total

composite mineralization including 10.85 m of total composite off‐scale radioactivity (>10,000 to

>61,000 cps) within a 135.5 m section (436.0 to 571.5 m), and featured 1.0 m of minimum‐greater‐

than‐61,000 cps.

 Scissor hole AR‐16‐106c2 (116 m up‐dip from AR‐15‐44b) intersected 41.0 m of total composite

mineralization including 9.7 m of total composite off‐scale radioactivity (>10,000 to >61,000 cps)

within a 72.5 m section (424.0 to 496.5 m), and featured 0.5 m of minimum‐greater‐than‐61,000 cps.

 Scissor hole AR‐16‐104c2 (130 m down‐dip and southwest from AR‐15‐44b) intersected 38.5 m of

total composite mineralization including 5.05 m of total composite off‐scale radioactivity (>10,000

to >61,000 cps) within a 101.5 m section (631.5 to 733.0 m), and featured 0.5 m of minimum‐greater‐

than‐61,000 cps.

A3 Shear

 Scissor hole AR‐16‐105c1 (41 m down‐dip from AR‐15‐57c2) intersected 70.5 m of total composite

mineralization including 7.9 m of total composite off‐scale radioactivity (>10,000 to >61,000 cps)

within a 136.0 m section (588.5 to 724.5 m).

 Scissor hole AR‐16‐113c1 (64 m down‐dip and northeast from AR‐15‐57c2) intersected 27.0 m of total

composite mineralization including 3.2 m of total composite off‐scale radioactivity (>10,000 to

>61,000 cps) within a 137.5 m section (562.5 to 700.0 m).

 Scissor hole AR‐16‐105c2 (26 m up‐dip from AR‐15‐57c2) intersected 40.5 m of total composite

mineralization including 3.1 m of total composite off‐scale radioactivity (>10,000 to >61,000 cps)

within an 83.0 m section (536.0 to 619.0 m).

A1 Shear

 Hole AR‐16‐108c3 (198 m up‐dip and northeast of AR‐16‐98c1) intersected 18.0 m of total composite

mineralization including 3.5 m of total composite off‐scale radioactivity (>10,000 to >61,000 cps)

within a 60.0 m section (394.0 to 454.0 m).

Harpoon

 Hole HP‐16‐13 (34 m down‐dip and southwest of HP‐16‐08) intersected 16.5 m of continuous

mineralization (212.5 to 229.0 m) including 2.95 m of total composite off‐scale radioactivity (>10,000

to >61,000 cps).

 Hole HP‐16‐20 (73 m up‐dip and northeast of HP‐16‐08) intersected 12.5 m of total composite

mineralization including 2.15 m of total composite off‐scale radioactivity (>10,000 to >61,000 cps)

within a 25.0 m section (183.5 to 208.5 m).

Table 1: Higher Grade A2 Sub‐Zone Angled Drill Holes

2015 AR‐15‐

59c22

AR‐15‐

54c12

AR‐15‐

58c12

AR‐15‐

622

AR‐15‐

44b2

AR‐15‐

49c22

AR‐15‐

57c32

Total composite mineralization = 75.5m 42.0m 86.0m 143.0m 135.6m 73.5m 62.5m

Total Off‐scale (>10,000 to 29,999 cps)3 = 11.4m 5.9m 14.3m 17.8m 30.3m 15.7m 4.4m

Total Off‐scale (>30,000 to 60,999 cps)3 = 4.5m 3.0m 3.9m 10.6m 7.8m 5.2m 2.5m

Total Off‐scale (>61,000 cps)3 = 1.0m 0.5m 2.0m 2.0m 1.5m 2.2m 1.8m

Assay Result (U3O8) =

36.5m

10.11%

27.5 m

10.09%

11.0m

30.62%

78m

10.00%

56.5m

11.55%

59.5m

10.13%

31.5m

10.03%

and 15.5m

10.01%

Winter 2016 AR‐16‐

81c32

AR‐16‐

76c42

AR‐16‐

76c12

AR‐16‐

76c32

AR‐16‐

63c12

AR‐16‐

63c32

AR‐16‐

86c12

AR‐16‐

74c12

AR‐16‐

63c22

AR‐16‐

91c22

AR‐16‐

64c32

AR‐16‐

64c22

AR‐

16‐

64c12

AR‐

16‐

72c22

AR‐16‐

78c12

AR‐16‐

78c42

Total composite mineralization = 48.5m 105.7m 73.5m 67.5m 55.5m 147.0m 90.0m 88.0m 138.0m 89.0m 102.0m 76.0m 74.0m 93.0m 64.0m 120.5m

Total Off‐scale (>10,000 to 29,999 cps)3 = 5.2m 19.9m 14.8m 14.9m 6.9m 22.1m 8.8m 21.2m 17.1m 13.4m 18.8m 16.0m 10.3m 7.0m 11.6m 25.8m

Total Off‐scale (>30,000 to 60,999 cps)3 = 4.0m 1.0m 2.8m 5.0m 0.5m 3.0m 2.3m 1.2m 9.9m 6.0m 2.5m 4.7m 3.7m 0.5m 3.0m 6.2m

Total Off‐scale (>61,000 cps)3 = 2.5m 0.0m 5.3m 4.5m 0.0m 0.5m 2.0m 0.0m 13.9m 3.0m 0.0m 5.5m 0.0m 1.7m 2.5m 5.5m

Assay Result (U3O8) =

23m

17.19%

10m

5.15%

67.5m

11.29%

50m

15.05%

20.15%

15m

8.28%

19.0m

20.40%

47m

3.41%

42m

15.20%

40.5m

12.69%

14m

10.30%

48.5m

11.15%

12.5m

20.4%

33.5m

4.65%

37.5m

12.94%

37.5m

17.60%

and 14.5m

5.08%

and 16m

2.21%

46.5m

12.99%

and 11.0m

4.08%

Summer 2016 AR‐16‐

92c32

AR‐16‐

112c2

AR‐16‐

111c2

AR‐16‐

98c22

AR‐16‐

106c1

AR‐16‐

93c22

AR‐16‐

96c22

AR‐16‐

91c42

AR‐16‐

108c21

Total composite mineralization = 49.5m 37.0m 39.0m 85.0m 63.0m 69.5m 60.5m 78.5m 69.5m

Total Off‐scale (>10,000 to 29,999 cps)3 = 7.1m 5.45m 5.8m 3.3m 7.8m 8.15m 8.9m 6.1m 17.05m

Total Off‐scale (>30,000 to 60,999 cps)3 = 1.4m 2.0m 2.0m 1.0m 1.8m 1.5m 3.5m 2.05m 0.5m

Total Off‐scale (>61,000 cps)3 = 2.3m 1.65m 5.0m 5.75m 2.5m 1.5m 1.0m 1.5m 0.5m

Assay Result (U3O8) =

12m

12.02%

Pending Pending

55m

10.12%

Pending

12m

20.21%

10m

15.73%

12m

16.70%

Pending

14m

18.21%

And

1 radioactivity results previously released

2 radioactivity and assays results previously released

3 minimum radioactivity using RS‐120 gamma spectrometer

Assay results shown are high grade sub‐intervals of composite assay lengths at a cut‐off grade of 0.01% U3O8 and may include up to 2m of internal dilution

All intervals are core lengths, true thicknesses are yet to be determined

Activities & Financial

 The summer 2016 program is now concluded and preparations for a fully‐funded significant winter

drilling program to begin in January 2017 are well underway.

 An updated NI 43‐101 resource estimate on the Arrow Deposit is scheduled for the first half of 2017.



 The Company has cash on hand of approximately $74 million.



Drill hole location maps and long sections are shown in Figures 1 to 6. Summaries of Arrow and Harpoon

mineralized drill intervals are provided in Tables 2 and 3.

Garrett Ainsworth, Vice‐President, Exploration and Development, commented: “Drilling across the mineralized

shears at Arrow has significantly expanded the known extents of mineralization which remains largely open,

while also meeting or exceeding our expectations on infill drilling. The recent Harpoon Discovery continues to

return impressive results, and remains open in all directions. We have begun analyzing the drill data in

preparation for an aggressive winter 2017 drill program.”

Leigh Curyer, Chief Executive Officer, commented: “The exploration and delineation progress made at the

Arrow Deposit, and on the rest of the Rook I property in 2016 has been outstanding. The continuity of

mineralization as well as the ability of the deposit to continue expanding throughout 2016 will culminate in an

updated resource estimate in H1 2017. Whilst drilling just shy of 100,000 m in 2016 has delivered further

optimization of Arrow and a significant new discovery in Harpoon, substantial drilling is still required in the

future prior to being in a position to ultimately estimate the true extent of Arrow. Further, the Company has

undertaken studies that will continue into 2017 to form the basis of a maiden pre‐feasibility study scheduled

for release in H2 2017 . With $74 million in the treasury we remain in a very strong financial position to execute

our objectives well into the future.”

Figure 1: A2 Mineralized Shear Long Section

Figure 2: A3 Mineralized Shear Long Section

Figure 3: A1 Mineralized Shear Long Section

Figure 4: Arrow Deposit Drill Hole Locations

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