VANCOUVER, BC, Jan. 30,
2025 /CNW/ - NexGen Energy Ltd. ("NexGen" or the
"Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is excited to
announce the commencement of a 43,000 meter (m) exploration drill
program to continue to test the extents and growth of
mineralization discovered in early 2024 at Patterson Corridor East
(PCE) located 3.5 km east of the world-class Arrow Deposit. This
systematic program represents an increase of 9,000 m from the 2024 program and is expected to
be one of the largest drill programs in the Athabasca Basin, Saskatchewan in 2025. The initial results at
PCE revealed vein-type uranium mineralization intersected within
the competent basement rock, highly analogous to Arrow. Since
discovery, the mineralized footprint at PCE has rapidly grown to
600 m along strike and 600 m of vertical extent (see November 12, 2024 news release).
Drilling in 2025 will focus on testing extents of the
mineralized footprint, further investigating high-grade zones
within the broad mineralized footprint, and determining potential
for additional mineralization within the same target area (Figure
1). Since discovery and over the 2024 campaign 19 of the 30 initial
holes intersected mineralization with 10 intersecting intermittent
widths of high grade of >10,000 cps mineralization. In addition,
strategic use of geophysics will cover prospective areas on SW3 to
refine a growing inventory of drill ready targets across NexGen's
dominant southwest Athabasca Basin
land position. Assays for 2024 drilling will be reported once fully
received in Q1 2025.
Leigh Curyer, Chief Executive Officer, commented: "In early
2024, we launched a bold grass roots exploration program aimed at
discovering new uranium resources to address the material and
growing uranium demand / supply gap. NexGen's disciplined and
systematic approach to evaluating high-priority targets resulted in
the discovery and material growth of mineralization at PCE. This
highly prospective area continues to be the central focus of our
exploration efforts given the clear potential demonstrated to date
at PCE. This is a strategic focus to contribute sustainable supply
to the growing demand for uranium to fuel the global energy
needs."
Jason Craven, Vice President,
Exploration, commented: "The scale of this year's drill program
speaks to our excitement for PCE and a commitment to efficiently
and thoroughly assess it. Continuity of mineralization, as well as
intensity of high-grade mineralization and alteration, indicate a
system with strong potential for continued growth. These are
compelling early days at PCE where we will remain solely focused on
unlocking its full potential."
With over $800M in cash and liquid
assets, NexGen is optimally funded for the ongoing development of
the Rook I Project as well as the PCE exploration program and for
general corporate purposes.
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.
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.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 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.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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nexgen-commences-expanded-43-000-meter-drill-program-at-patterson-corridor-east-302364118.html
SOURCE NexGen Energy Ltd.
