NexGen Receives Final Federal Approval for the Rook I Uranium Project
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NexGen Receives Final Federal Approval for the Rook I Uranium Project
Vancouver, BC, March 5, 2026 - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE)
(ASX: NXG) is pleased to announce that the Canadian Nuclear Safety Commission (“CNSC”) has, as of today, approved
NexGen’s Environmental Assessment (“EA”) and issued a Licence to Prepare Site and Construct (the "Licence") for the
Company’s 100%-owned, generational, Rook I Project (the “Project”). This approval comes 14 business days after the
final 2-part Commission Hearing process which was conclu ded February 12, 2026. With Environmental Assessment
(“EA”) approval from the Province of Saskatchewan received in November 2023 and receipt of all other necessary
Provincial authorizations, the issuance of the Licence marks the final regulatory approval required to initiate full
construction of the Project.
Located in Saskatchewan’s Athabasca Basin, NexGen’s Rook I Project has been methodically advanced and designed
to meet NexGen’s elite environmental, safety, social and economic standards, working in lockstep with local
Indigenous communities and partners. When fully operational, the Rook I Project will be the largest single source and
environmentally elite uranium mine globally, incorporating state-of-the-art extraction and safety systems. In
production, Rook I is capable of producing up to 30 millio n pounds annually – representi ng over 20% of the current
global uranium fuel supply and over 50% of western world supply.
With approvals secured, the Company is set to begin construction of the Rook I Project, advancing long-term economic
benefits, skilled jobs, sustainable growth for the region, and Canada’s nuclear energy leadership. The team,
procurement, engineering, vendors, contractors and capital are in place to commence construction activities with
advanced site and shaft sinking preparation. NexGen has already made its Final Investment Decision with official
construction commencing in summer 2026. As per the Rook I Project schedule, construction will take 4 years from
commencement.
Leigh Curyer, Founder and Chief Executive Officer of NexGen, commented: “Today’s approval represents one of the
most rigorous and comprehensive regulatory processes undertaken for a resource project globally. This milestone is
the result of the NexGen team’s steadfast and unrelenting focus over 12 years understanding and delivering our
objectives honestly and incorporating a culture of excellen ce. I am incredibly proud of our team - their resilience,
accountability, and dedication to advancing Rook I optimally across all aspects. This approach is what has defined our
success to date and will continue through successful execution of the construction and operations phases. We moved
with purpose and confidence to deliver a new standard for resources development.
On behalf of the NexGen Board of Directors, Executive team, and staff, we extend our sincere gratitude to our
Indigenous Nation partners, local communities, Premier Scott Moe and the Government of Saskatchewan,
Government partners, regulatory bodies, and all valued stakeholders who have contributed their expertise, trust, and
dedication to the successful advancement of this generational Project over the past decade. Further, I would also like
to acknowledge the Canadian Nuclear Safety Commission in demonstrating and delivering the most rigorous review
for a resources project globally, ensuring Canada leads the world in the safe and environmentally sound development
of mining.
The world is changing fast, and NexGen’s Rook I is now ready to be a significant contributor to global requirements
for nuclear energy and Canada’s role as an energy superpower. As global demand for reliable, clean, baseload nuclear
energy continues to accelerate at an unprecedented pace , uranium is the critical fu el for powering industrial
electrification and the digital infrastructure of tomorrow. Simply put, energy is the key to our global growth. Nuclear
is the chosen energy to supply that economic growth. NexGen is the foundational and necessary key to fueling that
growth. Our team, our asset, and this moment are aligned in a way that comes along once in a generation. Together
with our Nation partners and our many valued stakeholders, we are well prepared and ready to execute the
construction phase of the Rook I Project with the same scope, schedule and cost precision that has defined NexGen
since incorporation in 2011.”
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 an N.I. 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, proj ect 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 Columb ia, with its primary operations office in Saskatoon,
Saskatchewan.
Con
tact Information
Leigh Curyer
Chief Executive Officer
NexGen Energy Ltd.
+1 604 428 4112
www.nexgenenergy.ca
Tra
vis McPherson
Chief Commercial Officer
NexGen Energy Ltd.
+1 604 428 4112
www.nexgenenergy.ca