NexGen Announces New Off-Scale Mineralization Intersected at Patterson Corridor East (PCE) and Continued Expansion of High-Grade Sub Domain

RK-25-254 and RK-25-256 (both intersecting 2.0 and 2.1 m of off-scale (>61,000 cps)) are located 51 m and 119 m away from RK-25-232 (15 m at 15.9% U3O8).

Results highlight the repetition of upgrading high-grade shoots within growing mineralized footprint.

The following new holes intersected broad intercepts of cumulative mineralization (>500cps):

RK-25-246: 20.5m including 2.5m >10,000cps RK-25-247: 18.0m including 2.5m >10,000cps RK-25-251: 9.5m RK-25-254: 19.5m including 5.0m >10,000cps including 2.0m >61,000cps
RK-25-256: 10.0m including 3.3m >10,000cps including 2.1m >61,000cps

Vancouver, British Columbia--(Newsfile Corp. - August 28, 2025) - NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG) ("NexGen" or the "Company") is pleased to announce continued exciting results from the summer drill program at the rapidly advancing PCE. Step-out holes RK-25-254 and RK-25-256 intersected 2.0 m and 2.1 m of cumulative >61,000 counts per second (cps), respectively, located 51 m up-dip and 119 m down-dip of PCE's best hole to date, RK-25-232 (Figures 1 and 2). These represent the best holes from the summer program to date and validate the growth in high-grade continuity. Overall, an upgraded high-grade shoot plunges a minimum 200 m from RK-25-254 to RK-24-222 as part of an emerging interpreted pattern of high-grade shoots spaced 70 m apart (Figures 2 and 3).

Depth of the intense high-grade in RK-25-254, at just 454.4 m depth, ranks among the shallowest intersections of massive uranium ever drilled by NexGen. Mineralization is open 300 m up-dip and completely contained in the competent basement rock, consistent with Arrow. Strong continuity of grade across the mineralized footprint is consistent with Arrow's basement-hosted uranium veins.

Drilling is also extending deeper where strongly developed alteration and structural disruption persist as key indicators of additional mineralization. Further significant expansion potential at PCE remains with mineralization open in most directions.

A total to 21,968.9 m of the planned 43,000m program has been drilled in 2025. Since discovery (see March 11, 2024, news release), 79 drillholes totalling 53,088.9 m have been completed (Figure 4). High-grade growth and overall mineralized extent are the focus with many more targets to be tested across this rapidly developing and growing high-grade system. 48 of the 79 drillholes are mineralized, including 34 intersecting high-grade (>10,000 cps) and 14 intersecting off-scale (>61,000 cps).

Story Continues

Leigh Curyer, Chief Executive Officer, commented: "This program is delivering exactly what we look for in a generational uranium discovery, basement-hosted significant mineralized system, continuity of high-grade mineralization, and growth potential. PCE is evolving in real time into a world-class system in its own right. NexGen's highly prospective land package continues to demonstrate exciting results and unmatched opportunity for Canada to take its place as the number one source of uranium in the world."

Jason Craven, Vice President, Exploration, commented: "NexGen's summer drill program is off to a fantastic start. PCE continues to deliver intense high-grade uranium at shallower depths than the world class Arrow deposit only 3.5km away. Early summer drilling results are building on emerging interpretations that include systematic repetition of high-grade shoots within the overall mineralized footprint, indicating potential for significant expansion at PCE."

Figure 1: RK-25-254 and RK-25-256 core photos of focused vein intercepts 170 m apart from one another, each having 2 m of massive replacement style uranium mineralization, with elevated radioactivity above and below what is shown; yellow outlines >1,000 cps, red outlines >10,000 cps, >61,000 cps outlined in purple.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1745/264271_98f895367483ba0e_002full.jpg

Figure 2: Close-up of long section view of PCE high-grade subdomain around RK-25-232 (15.0 m at 15.9% U3O8)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1745/264271_98f895367483ba0e_003full.jpg

Figure 3: Interpreted model of mineralization at PCE (as of this release) with newly interpreted high-grade shoots shown; view is a long section that looks perpendicular to the primary mineralized plane; total mineralized footprint in orange and the high-grade subdomains in red

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1745/264271_98f895367483ba0e_004full.jpg

Figure 4: Interpreted 3D model of PCE shown looking northwest (across strike) and northeast (along strike)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1745/264271_98f895367483ba0e_005full.jpg

Table 1: 2025 Spectrometer results from summer drilling

Drillhole Unconformity Depth (m) Handheld Spectrometer Results (RS-125) Hole ID Azimuth Dip Total Depth (m) From (m) To (m) Width (m) CPS Range RK-25-245 330 -70 744.0 111.5 695.0 695.5 0.5 <500 695.5 696.0 0.5 <500 - 950 696.0 696.5 0.5 < 500 - 680 706.5 707.0 0.5 <500 - 600 707.0 707.5 0.5 <500 - 900 722.5 723.0 0.5 <500 723.0 723.5 0.5 <500 - 560 724.0 724.5 0.5 <500 -560 724.5 725.0 0.5 <500 725.0 725.5 0.5 <500 - 1370 RK-25-246 270 -70 525.0 124.5 216.5 217.0 0.5 <500 - 1000 217.5 218.0 0.5 <500 - 720 218.0 218.5 0.5 <500 - 580 223.5 224.5 1.0 <500 229.0 229.5 0.5 <500 - 840 331.0 331.5 0.5 <500 332.0 332.5 0.5 <500 333.5 334.0 0.5 <500 337.5 338.5 1.0 <500 339.0 339.5 0.5 <500 - 800 339.5 340.0 0.5 <500 - 550 340.0 340.5 0.5 1000 - 7000 340.5 341.0 0.5 <500 - 800 341.0 341.5 0.5 <500 - 1500 341.5 342.0 0.5 <500 - 650 342.0 342.5 0.5 <500 343.0 344.0 1.0 <500 368.0 368.5 0.5 <500 369.0 370.5 1.5 <500 376.0 376.5 0.5 <500 376.5 377.0 0.5 <500 - 4300 377.0 377.5 0.5 <500 - 3500 377.5 378.5 1.0 <500 378.5 379.0 0.5 <500 - 2200 379.0 379.5 0.5 <500 - 1900 379.5 380.0 0.5 <500 - 12000 380.0 380.5 0.5 <500 - 1900 380.5 381.0 0.5 <500 - 7300 381.0 381.5 0.5 1000 - 16000 381.5 382.0 0.5 9700 - 18000 382.0 382.5 0.5 3000 - 6000 382.5 383.0 0.5 950 - 7200 383.0 383.5 0.5 1000 - 6000 383.5 384.0 0.5 2900 - 6000 384.0 384.5 0.5 1000 - 24000 384.5 385.0 0.5 1200 - 23000 385.0 385.5 0.5 840 - 3800 385.5 386.0 0.5 <500 - 2300 386.0 386.5 0.5 <500 - 770 386.5 387.0 0.5 <500- 860 387.0 387.5 0.5 <500 - 720 387.5 388.0 0.5 <500 - 680 388.0 388.5 0.5 <500 - 730 388.5 389.0 0.5 <500 - 830 389.0 389.5 0.5 <500 - 830 389.5 390.0 0.5 <500 - 1100 390.0 390.5 0.5 <500 - 1200 390.5 391.0 0.5 <500 391.5 393.0 1.5 <500 393.0 393.5 0.5 <500 - 530 393.5 394.0 0.5 <500 - 2300 394.0 394.5 0.5 <500 - 1000 394.5 395.0 0.5 <500 - 600 395.0 396.0 1.0 <500 396.5 397.0 0.5 <500 - 570 398.0 398.5 0.5 <500 - 1200 398.5 399.0 0.5 <500 400.0 400.5 0.5 <500 - 1400 400.5 401.0 0.5 <500 - 1700 401.5 402.0 0.5 <500 402.0 402.5 0.5 <500 - 880 402.5 403.0 0.5 <500 - 1700 403.0 403.5 0.5 <500 - 1800 403.5 404.0 0.5 <500 - 1200 404.0 404.5 0.5 <500 404.5 405.0 0.5 <500 - 890 405.0 405.5 0.5 <500 424.0 426.0 2.0 <500 445.5 446.5 1.0 <500 450.5 451.0 0.5 <500 460.5 461.0 0.5 <500 461.0 461.5 0.5 <500 - 1300 461.5 462.0 0.5 <500 - 4000 479.0 479.5 0.5 <500 - 1380 479.5 480.0 0.5 <500 - 1300 488.5 489.0 0.5 <500 - 580 489.0 489.5 0.5 <500 RK-25-247 330 -70 738.0 114.4 269.5 270.0 0.5 <500 572.0 572.5 0.5 <500 572.5 573.0 0.5 <500 - 550 573.0 573.5 0.5 <500 - 600 573.5 574.0 0.5 <500 - 1500 574.0 574.5 0.5 <500 574.5 575.0 0.5 <500 -550 575.0 575.5 0.5 <500 - 900 575.5 576.0 0.5 500 - 1500 576.0 576.5 0.5 <500 - 2300 576.5 577.0 0.5 <500 - 900 577.0 577.5 0.5 550 - 4000 577.5 578.0 0.5 <500 - 30000 578.0 578.5 0.5 <500 - 2000 578.5 579.0 0.5 <500 579.0 579.5 0.5 <500 - 3000 579.5 580.0 0.5 <500 - 4500 580.0 580.5 0.5 <500 - 3000 580.5 581.0 0.5 <500 - 4500 581.0 581.5 0.5 650 - 5000 581.5 582.0 0.5 <500 - 31000 582.0 582.5 0.5 <500 582.5 583.0 0.5 <500 - 4500 583.5 584.0 0.5 <500 584.0 584.5 0.5 <500 - 700 584.5 568.5 -16.0 <500 586.5 587.0 0.5 <500 - 800 587.0 587.5 0.5 <500 - 550 587.5 588.0 0.5 <500 - 550 588.0 589.0 1.0 <500 589.0 589.5 0.5 <500 - 600 589.5 590.0 0.5 500 - 800 590.0 590.5 0.5 <500 591.0 591.5 0.5 <500 - 710 591.5 592.0 0.5 <500 - 820 592.0 592.5 0.5 <500 - 2700 592.5 593.0 0.5 <500 - 1900 593.0 593.5 0.5 <500 - 970 593.5 594.0 0.5 2200 - 11000 594.0 594.5 0.5 1500 - 20000 594.5 595.0 0.5 560 - 16000 595.0 595.5 0.5 <500 - 5800 595.5 596.5 1.0 <500 596.5 597.0 0.5 <500 - 3300 597.0 597.5 0.5 <500 - 660 597.5 598.5 1.0 <500 599.5 600.0 0.5 <500 601.0 601.5 0.5 <500 - 670 601.5 602.0 0.5 <500 - 1100 602.0 602.5 0.5 <500 - 1100 602.5 603.0 0.5 <500 603.0 603.5 0.5 <500 - 2000 603.5 604.0 0.5 <500 604.0 604.5 0.5 <500 - 1100 604.5 605.0 0.5 <500 - 2000 605.0 605.5 0.5 <500 - 900 605.5 606.0 0.5 <500 606.0 606.5 0.5 <500 - 900 606.5 607.0 0.5 <500 - 2000 607.0 607.5 0.5 600 - 3700 607.5 608.0 0.5 <500 - 1700 608.0 608.5 0.5 <500 - 600 608.5 609.0 0.5 <500 - 700 610.0 610.5 0.5 <500 611.0 612.0 1.0 <500 613.5 614.5 1.0 <500 RK-25-248 283 -69 501.0 123.3 202.0 202.5 0.5 <500 339.0 339.5 0.5 <500 344.0 344.5 0.5 <500-600 346.0 346.5 0.5 <500 - 730 346.5 347.0 0.5 <500 - 520 350.5 351.0 0.5 <500 352.0 352.5 0.5 <500 352.5 353.0 0.5 <500 -520 353.0 353.5 0.5 <500 357.0 357.5 0.5 <500 - 750 358.0 358.5 0.5 <500 366.0 366.5 0.5 <500 382.5 383.5 1.0 <500 383.5 384.0 0.5 <500 - 2000 384.5 385.0 0.5 <500 - 900 388.0 388.5 0.5 <500 390.0 391.0 1.0 <500 391.5 392.0 0.5 <500 392.0 392.5 0.5 <500 - 610 393.0 393.5 0.5 <500 395.5 396.0 0.5 <500 396.0 396.5 0.5 <500 - 800 396.5 397.0 0.5 <500 - 800 398.0 398.5 0.5 <500 400.5 401.0 0.5 <500 401.0 401.5 0.5 <500 -650 402.0 402.5 0.5 <500 402.5 403.0 0.5 <500 - 900 403.5 405.0 1.5 <500 409.5 410.5 1.0 <500 411.0 411.5 0.5 <500 433.5 435.5 2.0 <500 436.0 437.0 1.0 <500 440.5 441.0 0.5 <500 442.0 443.0 1.0 <500 443.0 443.5 0.5 <500 - 800 RK-25-249 340 -70 681.0 106.1 626.5 627.0 0.5 <500 - 700 628.0 628.5 0.5 <500 - 1000 628.5 629.0 0.5 <500 - 900 631.0 631.5 0.5 <500 - 820 637.5 638.0 0.5 <500 640.5 641.0 0.5 <500 - 2300 641.0 641.5 0.5 1200 - 16000 641.5 642.0 0.5 600 - 3200 642.0 642.5 0.5 <500 - 970 642.5 643.0 0.5 <500 645.5 646.5 1.0 <500 648.5 649.0 0.5 <500 650.0 650.5 0.5 <500 650.5 651.0 0.5 <190 - 1000 651.0 651.5 0.5 <500 651.5 652.0 0.5 <500 - 2500 652.0 652.5 0.5 <500 - 540 653.0 653.5 0.5 <500 - 2200 653.5 654.0 0.5 <500 - 920 654.0 654.5 0.5 <500 - 1000 654.5 655.0 0.5 <500 - 1200 655.0 655.5 0.5 <500 655.5 656.0 0.5 <500 - 730 656.0 656.5 0.5 <500 - 4400 656.5 657.0 0.5 <500 - 1300 657.0 657.5 0.5 <500 - 860 657.5 658.0 0.5 <500 658.0 658.5 0.5 <500-820 658.5 659.0 0.5 <500 661.5 662.0 0.5 <500 - 2500 662.0 662.5 0.5 <500 - 3700 668.5 669.0 0.5 <500 - 700 669.0 669.5 0.5 <500 - 410 669.5 670.0 0.5 <500 - 4700 670.0 670.5 0.5 <500 670.5 671.0 0.5 <500 - 1000 672.5 673.0 0.5 <500 - 770 673.5 674.0 0.5 <500 RK-25-250 308 -70 726.0 114.8 577.0 577.5 0.5 <500 586.5 587.0 0.5 <500 587.0 587.5 0.5 <500 - 950 587.5 588.0 0.5 600 -1200 588.0 588.5 0.5 <500 - 3850 588.5 589.0 0.5 <500 - 650 592.0 592.5 0.5 <500 - 1950 592.5 593.0 0.5 2280 - 5000 593.0 593.5 0.5 <500 - 730 594.0 594.5 0.5 <500 594.5 595.0 0.5 <500 - 770 595.0 595.5 0.5 <500 - 640 595.5 596.0 0.5 <500 596.0 596.5 0.5 <500 - 580 596.5 597.0 0.5 700 - 1350 597.0 597.5 0.5 <500 - 850 597.5 598.0 0.5 <500 - 740 599.0 599.5 0.5 <500 599.5 600.0 0.5 <500 - 770 600.0 600.5 0.5 <500 - 1160 600.5 601.0 0.5 <500 - 3350 601.5 602.0 0.5 800 - 2750 602.0 602.5 0.5 <500 - 1850 602.5 603.0 0.5 <500 - 510 603.0 603.5 0.5 <500 - 1150 603.5 604.0 0.5 <500 - 1000 604.0 604.5 0.5 1000 - 2100 604.5 605.0 0.5 1100 - 4500 605.0 605.5 0.5 1100 - 4300 605.5 606.0 0.5 <500 606.5 608.0 1.5 <500 608.0 608.5 0.5 <500 - 1800 608.5 609.5 1.0 <500 609.5 610.0 0.5 <500 - 1800 610.0 611.0 1.0 <500 611.0 611.5 0.5 <500 - 800 612.0 612.5 0.5 <500 612.5 613.0 0.5 <500 - 750 613.0 613.5 0.5 <500 - 1200 613.5 614.0 0.5 <500 - 1500 614.0 614.5 0.5 <500 - 8700 614.5 615.0 0.5 <500 - 2100 615.0 615.5 0.5 4000 - 14000 615.5 616.0 0.5 <500 - 5100 616.0 616.5 0.5 1500 - 3000 618.0 618.5 0.5 <500 - 1100 618.5 619.0 0.5 <500 - 1900 619.0 619.5 0.5 <500 - 800 619.5 620.0 0.5 1200 - 40000 620.0 620.5 0.5 <500 620.5 621.0 0.5 <500 - 1100 621.0 621.5 0.5 600 - 1700 621.5 622.0 0.5 600 - 2600 622.0 622.5 0.5 700 - 2100 622.5 623.0 0.5 800 - 2000 623.0 623.5 0.5 600 - 2000 623.5 624.0 0.5 800 - 8800 624.0 624.5 0.5 <500 - 700 630.0 630.5 0.5 <500 638.0 638.5 0.5 <500 - 1200 643.5 647.0 3.5 <500 647.5 648.0 0.5 <500 654.5 660.5 6.0 <500... 660.5 661.0 0.5 <500 - 6000 663.0 663.5 0.5 <500 - 8500 665.0 665.5 0.5 <500 - 750 666.0 666.5 0.5 700 - 1800 666.5 667.0 0.5 <500 - 6100 667.5 668.0 0.5 <500 - 700 668.0 668.5 0.5 <500 - 700 668.5 669.0 0.5 <500 - 2400 669.0 669.5 0.5 <500 - 770 670.0 670.5 0.5 <500 670.5 671.0 0.5 <500 - 575 671.0 671.5 0.5 <500 - 1400 RK-25-251 302 -69 576.3 119.6 282.0 282.5 0.5 <500 376.5 378.0 1.5 <500 379.5 380.0 0.5 <500 380.5 381.0 0.5 <500 381.5 382.0 0.5 <500 - 530 382.0 382.5 0.5 <500 - 530 384.0 385.5 1.5 <500 385.5 386.0 0.5 <500 - 510 386.0 387.5 1.5 <500 388.5 389.0 0.5 <500 392.5 393.0 0.5 <500 - 2000 393.0 393.5 0.5 <500 - 7600 393.5 394.0 0.5 <500 - 740 394.0 394.5 0.5 <500 - 5100 394.5 395.0 0.5 <500 - 1440 395.5 396.0 0.5 <500 404.0 404.5 0.5 <500 404.5 405.0 0.5 <500 - 920 405.0 405.5 0.5 <500 - 2100 405.5 406.0 0.5 500 - 2900 406.0 406.5 0.5 4000 - 8000 406.5 407.0 0.5 5000 - 12000 407.0 407.5 0.5 3000 - 15000 407.5 408.0 0.5 15000 - 33000 408.0 408.5 0.5 4000 - 31000 408.5 409.0 0.5 <500 - 620 409.0 409.5 0.5 530 - 2000 409.5 410.0 0.5 <500 - 1400 410.0 410.5 0.5 <500 - 840 410.5 411.0 0.5 <500 - 1200 411.0 411.5 0.5 <500 420.0 421.0 1.0 <500 432.5 433.0 0.5 <500 436.0 436.5 0.5 <500 438.0 438.5 0.5 <500 439.5 440.0 0.5 <500 446.5 447.5 1.0 <500 448.0 448.5 0.5 <500 452.0 452.5 0.5 <500 460.0 460.5 0.5 <500 461.0 461.5 0.5 <500 - 3000 468.0 468.5 0.5 <500 469.5 470.0 0.5 <500 - 1000 470.0 470.5 0.5 <500 - 1500 470.5 471.0 0.5 <500 474.5 475.0 0.5 <500 RK-25-252 275 -68 663.0 120.8 515.5 516.0 0.5 <500 528.5 529.0 0.5 <500 531.0 534.0 3.0 <500 535.0 535.5 0.5 <500 546.5 547.0 0.5 <500 - 820 547.0 547.5 0.5 <500 - 670 547.5 548.0 0.5 <500 - 640 548.5 549.5 1.0 <500 549.5 550.0 0.5 <500 - 510 550.0 550.5 0.5 <500 - 1800 550.5 551.0 0.5 <500 - 880 551.0 551.5 0.5 <500 - 1300 551.5 552.0 0.5 <500 - 510 552.0 552.5 0.5 500 - 1190 552.5 553.0 0.5 850 - 1150 553.0 553.5 0.5 660 - 1400 553.5 554.0 0.5 2400 - 20000 554.0 554.5 0.5 <500 - 1900 554.5 555.0 0.5 <500 - 600 555.0 555.5 0.5 550 - 1400 555.5 556.0 0.5 <500 - 550 556.0 556.5 0.5 <500 556.5 557.0 0.5 800 - 1800 557.0 557.5 0.5 <500 557.5 558.0 0.5 <500 - 1080 558.0 559.0 1.0 <500 559.5 560.0 0.5 <500 -510 560.0 560.5 0.5 <500 - 550 560.5 561.0 0.5 <500 561.0 561.5 0.5 <500 - 4200 563.0 563.5 0.5 <500 - 2200 563.5 564.0 0.5 690 - 1750 564.0 564.5 0.5 <500 564.5 565.0 0.5 <500 - 1200 567.0 567.5 0.5 <500 568.5 569.5 1.0 <500 570.0 570.5 0.5 <500 572.5 573.0 0.5 <500 589.0 589.5 0.5 <500 - 640 590.5 591.0 0.5 <500 593.5 594.0 0.5 <500 - 540 594.0 594.5 0.5 <500 594.5 595.0 0.5 <500 - 1675 595.0 595.5 0.5 <500 - 600 595.5 596.0 0.5 <500 598.5 599.0 0.5 <500 603.0 603.5 0.5 <500 -1200 603.5 604.0 0.5 <500 - 1500 604.5 605.0 0.5 <500 - 630 605.0 605.5 0.5 <500 RK-25-253 340 -70 657.0 116.8 No Significant Intersections. RK-25-254 275 -65 582.0 128.0 404.5 405.0 0.5 <500 410.5 411.0 0.5 <500 419.5 420.0 0.5 <500 428.0 428.5 0.5 <500 434.5 435.0 0.5 <500 438.0 438.5 0.5 <500 439.0 439.5 0.5 <500 445.5 446.0 0.5 <500 448.5 449.5 1.0 <500 449.5 450.5 1.0 <500 - 720 450.5 451.0 0.5 580 - 1200 451.0 453.0 2.0 <500 - 700 453.0 453.5 0.5 <500 - 1400 453.5 454.0 0.5 <500 - 2200 454.0 454.4 0.4 700 - 18000 454.4 454.9 0.5 >61000 454.9 455.0 0.1 40000 - 52000 455.0 455.5 0.5 12000 - 43000 455.5 455.7 0.2 32000 - 50000 455.7 455.9 0.2 >61000 455.9 456.0 0.1 13000 - 43000 456.0 457.2 1.2 >61000 457.2 457.4 0.2 17000 - 40000 457.4 457.5 0.1 >61000 457.5 458.0 0.5 3500 - 32000 458.0 459.5 1.5 900 - 1700 462.5 463.0 0.5 <500 476.5 477.0 0.5 <500 480.0 481.0 1.0 <500 - 700 483.0 483.5 0.5 <500 - 540 483.5 484.0 0.5 <500 - 2700 484.0 484.5 0.5 <500 - 550 484.5 485.0 0.5 550 - 770 485.5 486.0 0.5 <500 - 1100 486.0 487.0 1.0 <500 - 500 487.5 488.0 0.5 <500 488.0 488.5 0.5 <500 - 1200 489.0 491.0 2.0 <500 - 1200 505.0 505.5 0.5 <500 - 2300 505.5 506.0 0.5 700 - 1300 506.0 507.0 1.0 <500 - 650 509.0 509.5 0.5 <500 522.0 522.5 0.5 <500 - 1300 536.5 537.0 0.5 <500 - 14000 537.0 538.5 1.5 <500 - 550 541.5 542.0 0.5 <500 - 20000 RK-25-254c1 275 -65 564.0 N/A 395.5 396.0 0.5 <500 - 530 396.5 397.0 0.5 <500 - 18000 407.0 407.5 0.5 <500 - 510 409.5 410.0 0.5 <500 415.5 416.0 0.5 <500 421.5 422.0 0.5 <500 - 710 422.0 422.5 0.5 <500 - 690 423.0 423.5 0.5 <500 434.0 434.5 0.5 <500 434.5 435.0 0.5 <500 435.0 435.5 0.5 <500 - 880 436.0 436.5 0.5 <500 - 990 436.5 437.0 0.5 <500 - 2750 437.0 437.5 0.5 <500 - 1220 437.5 438.0 0.5 <500 - 1020 438.0 438.5 0.5 <500 438.5 439.0 0.5 <500 - 4220 439.0 439.5 0.5 <500 - 770 439.5 440.0 0.5 <500 - 1990 440.0 440.5 0.5 <500 - 1760 440.5 441.0 0.5 <500 - 1990 441.0 441.5 0.5 <500 - 4600 441.5 442.0 0.5 <500 - 2400 442.0 442.5 0.5 <500 - 1100 444.5 445.0 0.5 <500 445.0 445.5 0.5 <500 447.0 447.5 0.5 <500 447.5 448.0 0.5 <500 448.0 448.5 0.5 <500 449.5 450.0 0.5 <500 - 6900 450.0 450.5 0.5 <500 450.5 451.0 0.5 <500 451.0 451.5 0.5 <500 - 990 453.5 454.0 0.5 <500 - 880 454.0 454.5 0.5 <500 - 770 456.0 456.5 0.5 <500 456.5 457.0 0.5 <500 457.0 457.5 0.5 <500 460.0 460.5 0.5 <500 461.0 461.5 0.5 <500 461.5 462.0 0.5 <500 462.0 462.5 0.5 <500 - 1070 462.5 463.0 0.5 <500 463.0 463.5 0.5 <500 - 610 468.5 469.0 0.5 <500 - 520 469.0 469.5 0.5 <500 472.0 472.5 0.5 <500 472.5 473.0 0.5 <500 - 520 473.0 473.5 0.5 <500 481.5 482.0 0.5 <500 - 7300 482.0 482.5 0.5 <500 - 3200 482.5 483.0 0.5 <500 - 1590 483.0 483.5 0.5 <500 - 4600 483.5 484.0 0.5 <500 - 980 484.0 484.5 0.5 <500 484.5 485.0 0.5 <500 - 980 485.0 485.5 0.5 <500 - 540 485.5 486.0 0.5 <500 486.0 486.5 0.5 <500 - 1700 486.5 487.0 0.5 <500 - 6070 487.0 487.5 0.5 <500 - 1900 487.5 488.0 0.5 <500 - 1360 488.0 488.5 0.5 <500 - 1480 488.5 489.0 0.5 <500 - 10300 489.0 489.5 0.5 <500 - 2900 489.5 490.0 0.5 <500 - 6700 490.0 490.5 0.5 <500 - 3400 490.5 491.0 0.5 <500 - 23200 491.0 491.5 0.5 <500 - 5300 491.5 492.0 0.5 <500 - 570 492.0 492.5 0.5 <500 492.5 493.0 0.5 <500 - 900 493.0 493.5 0.5 <500 - 780 495.5 496.0 0.5 <500 496.0 496.5 0.5 <500 497.0 497.5 0.5 <500 - 540 498.5 499.0 0.5 <500 - 830 499.0 499.5 0.5 <500 - 720 499.5 500.0 0.5 <500 - 680 500.0 500.5 0.5 <500 - 2300 500.5 501.0 0.5 <500 - 910 503.0 503.5 0.5 <500 - 610 503.5 504.0 0.5 <500 504.0 504.5 0.5 <500 504.5 505.0 0.5 <500 - 760 505.0 505.5 0.5 <500 RK-25-256 292 -65.5 696.0 116.9 510.5 511.0 0.5 <500 - 540 525.5 526.0 0.5 <500 - 510 587.5 588.0 0.5 540 - 2010 588.0 588.5 0.5 <500 588.5 589.0 0.5 <500 589.0 589.5 0.5 <500 - 3700 589.5 590.0 0.5 <500 590.0 590.5 0.5 <500 - 810 590.5 591.0 0.5 1100 - 8700 591.0 591.5 0.5 800 - 2300 591.5 591.8 0.3 1900 - 23000 591.8 592.7 0.9 >61000 592.7 592.9 0.2 3900 - 8300 592.9 593.5 0.6 >61000 593.5 593.7 0.2 800 - 33000 593.7 594.3 0.6 >61000 594.3 594.5 0.2 <500 - 16000 594.5 595.0 0.5 <500 596.0 596.5 0.5 1100 - 37000 596.5 597.0 0.5 <500 - 620 597.5 598.0 0.5 <500 599.5 600.0 0.5 <500 600.0 600.5 0.5 <500 602.5 603.0 0.5 <500 - 790 603.5 604.0 0.5 <500 607.0 607.5 0.5 <500 608.0 608.5 0.5 <500 608.5 609.0 0.5 <500 609.0 609.5 0.5 <500 610.0 610.5 0.5 <500 611.0 611.5 0.5 900 - 4400 611.5 612.0 0.5 <500 - 800 612.0 612.5 0.5 <500 612.5 613.0 0.5 <500 - 6250 613.0 613.5 0.5 <500 - 9100 613.5 614.0 0.5 <500 - 530 615.5 616.0 0.5 <500 616.0 616.5 0.5 <500 - 1300 616.5 617.0 0.5 <500 617.5 618.0 0.5 <500 - 2700 620.5 621.0 0.5 <500 621.0 621.5 0.5 <500 627.0 627.5 0.5 <500 627.5 628.0 0.5 <500 628.0 628.5 0.5 <500 628.5 629.0 0.5 <500

All depths and intervals are meters downhole, true thicknesses are yet to be determined. "Off-scale" refers to >61,000 cps (counts per second) readings by gamma spectrometer type RS-125. "Anomalous" means >500 cps readings by gamma spectrometer type RS-120. Where "CPS Range" is <500 cps, this refers to local low radioactivity within the overall interval. Unconformity of 'N/A' denotes a lack of visible contact between Athabasca sandstone and basement rock. Maximum internal dilution 2.0 m downhole. All depths and intervals are meters downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be determined.

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, 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, 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
[email protected]
www.nexgenenergy.ca

Travis McPherson
Chief Commercial Officer
NexGen Energy Ltd. +1 604 428 4112
[email protected]
www.nexgenenergy.ca

Monica Kras
Vice President, Corporate Development
NexGen Energy Ltd.
+44 7307 191933 [email protected] www.nexgenenergy.ca

Technical Disclosure*

All technical information in this news release has been reviewed and approved by Jason Craven, NexGen's Vice President, Exploration, a qualified person under National Instrument 43-101.

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-125 gamma spectrometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.

A technical report in respect of the FS is filed on SEDAR (www.sedarplus.ca) 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 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 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 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, 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 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 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 March 6, 2024 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264271

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