VANCOUVER, BC, April 18,
2023 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or
the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) in partnership
with the Clearwater River Dene Nation ("CRDN") is pleased to
announce the establishment of a 100% Indigenous owned and operated
gravel supply company in Northwest
Saskatchewan. Continuing to deliver on its industry-leading
Impact Benefit Agreement with the CRDN signed in March 2022, NexGen purchased a $4.1M gravel crusher to provide aggregate
material for its Rook I project ("Rook I" or the "Project") and to
supply the northern communities' aggregate material for road
infrastructure requirements. The CRDN member-owned business will
lease to own and operate the gravel crusher. The aggregate supply
for Rook I has a capital expenditure representing an estimated
$36M in value (Rook I Feasibility
Study) to the new CRDN-owned business in just the first three years
of construction of the Project. This new company will immediately
create sixteen (16) additional jobs for local community
members.
Teddy Clark, Chief CRDN,
commented: "The establishment of the gravel supply company is a
testament to NexGen's commitment to creating sustainable economic
opportunities for Indigenous communities in the local project area.
This new business will give CRDN and Metis Local 39 members, as
well as surrounding communities, meaningful employment, which will
stimulate the economy for all the communities in the local project
area."
Leigh Curyer, Chief Executive Officer, commented: "NexGen is
proud to be expanding its support for our local community partners
to maximise positive sustainable growth. This business opportunity
delivers three key initiatives, aggregate for roads and the
foundations for Rook I permitted site works scheduled to commence
in summer 2023, much needed road aggregate repair for the
communities in the wider local project area, and scalability and
longevity to provide positive outcomes for many people including
training and employment. Further, it demonstrates NexGen's industry
leading approach to community advancement and engagement with local
community partners, and confirms the Company's long-standing track
record of maximizing opportunities for its stakeholders."
The establishment of a gravel supply company in the Northwest
addresses the limited options and availability of crushing services
in Northwest Saskatchewan. In
addition to NexGen's Rook I Project, which is currently advancing
through the Provincial and Federal regulatory and licensing review
process, this initiative will produce the aggregate needed for
other mining operations, Saskatchewan Highways, and construction
operations across Northwest
Saskatchewan.
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 standards in
environmental and social governance. The Rook I Project is
supported by a 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, 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.
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 FS is filed on SEDAR
( www.sedar.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 February
25, 2022 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.sedar.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.
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SOURCE NexGen Energy Ltd.