NexGen Receives Provincial Environmental Assessment Approval for the Rook I Project
NexGen Receives Provincial Environmental Assessment Approval for the Rook I Project
Vancouver, BC, November 9, 2023 – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE:
NXE) (ASX: NXG) is pleased to announce that it has received Ministerial approval under The Environmental
Assessment Act of Saskatchewan to proceed with the development of its 100% -owned Rook I Project (the
“Project”).
NexGen is the first company in more than 20 years to receive full Provincial Environmental Assessment approval
for a uranium project in Saskatchewan.
Leigh Curyer, Chief Executive Officer, commented: “The achievement of th is major milestone of Provincial
Environmental Assessment approval for Rook I is key in meeting the surging global demand for ethically sourced
uranium. I am incredibly proud of the NexGen team’s dedication and commitment working together with our
valued local Indigenous communities in this highly transparent and diligent regulatory process. Throughout the
rigorous EA process, the Government of Saskatchewan recognized the unparalleled value and future
opportunities the Rook I Project will provide for local communities, Saskatchewan, and Canada. Today is a
milestone for NexGen, the communities where we operate, the Province of Saskatchewan, and accelerates Canada
in returning to being the world’s leader in the production of clean energy fuel for the global environment.
With Provincial EA approval now in place, NexGen has submitted all responses to the Federal technical review
of the Rook I Project Environmental Impact Statement and eagerly look forward to the completion of the Federal
EA approval process.”
Further, NexGen has lodged, in advance, the initial applications for approvals of site earthworks, shaft sinking
infrastructure, site water and mine waste management facilities, and associated ancillary infrastructure and
services and is continuously engaged with the Saskatchewan Ministry of Environment (“ENV”) regarding these
phases of development.
“This represents a major milestone in advancing another uranium mine in our province,” Premier of
Saskatchewan the Honourable Scott Moe said. “Saskatchewan and our northern communities are well-positioned
to benefit from the increased demand for critical minerals. NexGen’s Rook I Project will help build our local
communities and create jobs for many northerners while providing an ethically and sustainably produced supply
of uranium to world markets.”
“I would like to congratulate NexGen on this significant milestone with their Rook I Project”, commented the
Honourable Christine Tell, Saskatchewan Minister of Environment. “We look forward to working with them as
this project advances and are excited that NexGen has chosen Saskatchewan as a place to do business.”
This is a Designated News Release
Indigenous and Community Partnership Approach
The Project is located within the Clearwater Dene Nation (CRDN), Birch Narrows Dene Nation (BNDN), and
Buffalo River Dene Nation (BRDN) traditional territories, and the Métis Homeland. All four Local Priority Area
(“LPA”) Communities have formally confirmed their consent and strong support for NexGen’s stewardship of the
Rook I Project covering the full life-cycle of the mine, including post-closure.
CRDN Chief Teddy Clark commented: “Since as early as 2013, the Rook I Project has been a platform for both
NexGen and the CRDN, together with regulatory authorities, to set a new and elite standard on Indigenous
engagement, participation, and partnerships for projects in the traditional territory of Indigenous peoples. We,
the community of Clearwater River Dene Nation, have taken a generational outlook in creating a threshold of
engagement interpretation and practices with NexGen representing a socio-economically diverse approach for
our members.
With this major milestone of the Provincial approval for the Rook I EA, CRDN is excited for construction to
commence that will ultimately lead to production at Rook I, where we stand collectively to maximize
accommodation measures and business opportunities for our people. Achieving this success with a recognized
industry partner in NexGen demonstrates responsible development of a major clean energy project, and we are
encouraging other companies to take a similar Indigenous and industry partnership approach. Today brings
another day of recognition for NexGen in raising the bar to an elite level, and we remain in solidarity working
with NexGen and supporting their integrated commitments in making the Rook I Project a success.”
Leonard Montgrand, Métis Nation – Saskatchewan (MN-S) Northern Region 2 (NR2) Director commented:
“Since as early as 2013, NexGen has engaged and worked closely with the MN-S NR2 locals and citizens. We
are proud to be working with NexGen and the regulatory authorities to set a new and elite standard for
Indigenous engagement, participation, and partnerships for major projects in the traditional territory of our
peoples. The approval from the Province of Saskatchewan is a major milestone for the MN-S NR2 and NexGen,
and will have positive impacts on the long-term economic sustainability of our Nation. We look forward to the
next steps of the Project where our partnership with NexGen will deliver generational opportunities for our
Nation and the citizens. We support the Provincial approvals and await with great anticipation for the approval
of the Federal EA.
Glen McCallum, MN-S President commented: “Métis Nation-Saskatchewan is proud of the relationships we are
building with governments, industry, and organizations. MN-S welcomed the opportunity to partner with
NexGen, Northern Region 2, and the regulatory authorities to develop the Rook I Project responsibly, while
recognizing and respecting Métis rights and interests. The approval from the Province of Saskatchewan is a
major milestone in this partnership, and we look forward to continuing to work together to ensure the success
of the project and provide much-needed resources and economic opportunities to Northern Region 2 families
and citizens.”
BNDN Chief Jonathan Sylvestre commented: “With this positive Provincial approval for the Rook I Project, we
are proud to say we have worked in collaboration with NexGen and the Province through this rigorous
regulatory process. Now that the Project has Provincial environmental assessment requirements approved, as
soon as construction begins our community stands to substantially benefit through employment, business
opportunities, environmental monitoring, and funding to support community priorities. NexGen has been
working with us in a respectful way since day one and our leadership and community look forward to
advancing this generational project together.”
BRDN Chief Norma Catarat commented: “Buffalo River Dene Nation and NexGen have built a meaningful
relationship over the past six years based on trust, respect, and confidence. The approval from the Province of
Saskatchewan is a major milestone for our partnership with NexGen and will have positive impacts on the long-
term economic sustainability of our community. We look forward to the advancement of the Project
throughout all phases of its lifecycle.”
This major milestone enables NexGen to optimally advance the Rook I Project towards production where the
Project will be in a unique position to be one of the most substantial supplier s of uranium globally, and 100%
ethically sourced through rigorous commitments, controls , and processes to ensure the elite environmental
performance, maximum community inclusion, and supply chains and customers that are allied for net-zero goals.
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 National Instrument 43-101 (“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 and 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
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
Media Inquiries
+1 604 218 1142
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 Feasibility Study is filed on SEDAR+ ( www.sedarplus.ca) and EDGAR
(www.sec.gov/edgar.shtml) and is available for review on NexGen’s website (www.nexgenenergy.ca).
Cautionary Note to US. 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 US 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 US standards.
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 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 involve 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, assumptions,
estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward -
looking information and statements are m ade 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 prop erty, 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 materially adverse manner. Although the assumptions made by the
Company in providing forward -looking information 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, eq uipment
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 management 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 li cences, 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.sedarplus.ca 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 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 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.