NexGen Makes Significant New Discoveries of Near Arrow Mineralization Northwest and Along Strike in Winter Drill Campaign

VANCOUVER, May 2, 2018 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, NYSE MKT:NXE) is pleased to report radioactivity results for fifty-four holes comprising 30,208 m from Arrow, South Arrow and regional exploration as part of our now concluded winter drilling program on our 100% owned, Rook I property, in the Athabasca Basin, Saskatchewan.

Highlights:

Discovery of A0 Shear

Follow up drilling to the northwest of the Arrow deposit (where hole GAR-17-001 recently discovered mineralization that returned 8.0 m at 1.43% U3O8) has successfully confirmed mineralization in a new shear named the "A0 Shear".

  • AR-18-187c3 intersected 33.0 m of total composite mineralization including 0.3 m of total composite off-scale radioactivity (>10,000 to 17,000 cps) within a 67.5 m section (535.5 to 603.0 m) in the A0 shear.

New Mineralization Intersected 160 m Northwest of the AO Shear

Furthermore, the last hole of the 2018 winter program intersected off-scale mineralization 160 m northwest of the A0 shear. This new area of mineralization has yet to be defined, meaning the northwest remains completely open and untested for the future expansion of the Arrow Deposit.

  • AR-18-208c1 intersected 10.5 m of total composite mineralization including 0.2 m of total composite off-scale radioactivity (>10,000 to 32,800 cps) within a 182.5 m section (562.0 to 744.5 m) northwest of the A0 shear zone.

Mineralization Intersected to the Northeast of the A1 and A2 Shears

Drilling focused to the northeast of the Arrow Deposit, testing 50 m along strike from known mineralization at varying elevations intersected significant mineralization within the A1 and A2 shears. The systematic step-outs to the northeast show that Arrow remains largely open and untested at these elevations in the A1 and A2 shears.

  • AR-18-189c4 intersected 40.0 m of total composite mineralization including 3.9 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 54.0 m section (820.0 to 874.0 m) in the A1 and A2 shears. The hole successfully expanded both the A1 and A2 shear zones to the northeast of existing A1 and A2 inferred resource grade shells.

A2 Shear Expansion

  • AR-18-186c1 intersected 28.5 m of total composite mineralization including 5.3 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 45.0 m section (507.5 to 552.5 m) in the A2 shear. The hole successfully expanded the thickness of the A2 shear zone to the northeast of the current A2 Inferred resource grade shells.

  • AR-18-200c2 intersected 36.0 m of total composite mineralization including 5.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 43.0 m section (739 to 782.0 m) in the A2 shear. The hole expanded the thickness of the A2 shear zone, down-dip from the existing A2 high-grade domain.

A3 Shear Infill

Positive infill drill results from the A3 high-grade domains continued, where the objective was to convert Inferred to Indicated Mineral Resources, where the Indicated Mineral Resources only will be incorporated into the Pre-Feasibility Study scheduled for Q3/2018 release.

  • AR-18-202c1 intersected 40.0 m of total composite mineralization including 4.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 119.5 m section (477.5 to 597.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.

  • AR-18-186c2 intersected 55.0 m of total composite mineralization including 3.75 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 123.0 m section (393.0 to 516.0 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.

  • AR-18-197c3 intersected 40.0 m of total composite mineralization including 3.55 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 116.5 m section (595.0 to 711.5 m) in the A3 shear. The hole was designed as a 25 m infill hole in the A3 high-grade domain with an objective to convert Inferred to Indicated Mineral Resources.

Regional Exploration

South Arrow

Expansion drilling intersected mineralization including off-scale radioactivity which was 175 m southwest of the main zone of mineralization at South Arrow. The target area remains prospective for future exploration and expansion.

  • AR-18-199c1 intersected 9.5 m of total composite mineralization including 0.1 m of total composite off-scale radioactivity (>10,000 to 13,500 cps) within a 32.5 m section (345.5 to 378.0 m).

Patterson Conductor Corridor

Regional drilling on the Patterson Corridor focused on two high priority target areas, which included Mirror and the Arrow VTEM Conductor. The Mirror target area is located 1.5 km southeast of the Arrow Deposit along a parallel conductor. The drill holes in the area successfully intersected the targeted VTEM conductor but did not encounter significant uranium mineralization. The Arrow Conductor is situated approximately 2.5 km southwest and along strike from the Arrow Deposit, hosted within the same VTEM conductor. Arrow-type silicified semi-pelitic gneiss was intersected throughout in all of the 6 holes drilled in the area. Moderate to intense sericitic alteration, similar to Arrow-type alteration found proximal to the Arrow deposit was intersected in several of the drill holes.

Drill hole locations and long sections are shown in Figures 1 to 4. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Activities & Financial

  • The Arrow Deposit remains open in most directions, with high potential for future high-grade discoveries in close proximity to existing mineral resources.

  • Pre-feasibility staged technical studies including geotechnical work, hydrogeological work, and metallurgy continue in advance of the updated Mineral Resource Estimate and maiden Pre-Feasibility Study scheduled for the end of Q3 / early Q4 2018.

  • The Company has cash on hand of approximately ~$150 million.

Troy Boisjoli, Vice-President, Operations and Project Development, commented: "The four winter 2018 drill program objectives were successfully reached. Two significant exploration initiatives resulted in the discovery of an A0 shear zone, and secondly testing 160 m northwest of the A0 shear has also intersected intense mineralization within another, yet to be defined zone which remains open. Additionally, expansion of Mineral Resources within the A1 and A2 shear zones from the AR-18-189 series holes demonstrate Arrow remains open on strike. The continued success of resource expansion and near Arrow exploration drilling, from my experience, indicates the absolute scale of the Arrow Deposit will not be fully realized without significantly more drilling and ultimately, not until underground. Furthermore, the infill drilling highlights the robustness of the Arrow Mineral Resource model and has maximized available Indicated Mineral Resources for the purpose of the maiden Pre-Feasibility Study. Regional exploration testing along strike from the Arrow Deposit successfully intersected prospective, Arrow-type alteration and lithological packages which highlights the potential for future discoveries along the Patterson Lake Corridor. The team is looking forward to testing the new A0 shear, northwest of the A0, northeast of the A1 and A2 and to the southwest of Arrow during summer 2018. "

Leigh Curyer, Chief Executive Officer, commented: "The targeted winter drill campaign focused on converting Inferred to Indicated, expanding the overall footprint in previously untested areas and understanding future growth potential of Arrow. All of these were successfully achieved and with the discovery of the A0, intense mineralization 160m to the northwest of the A0, and to the northeast of the A1 and A2 shears, suggests substantial drilling is required to determine the ultimate extent of Arrow. Troy and his team are already in planning for a summer 2018 exploration and development program."

Figure 1: Arrow and South Arrow Drill Hole Locations (CNW Group/NexGen Energy Ltd.)

Figure 2: A1 Shear Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

Figure 3: A2 Shear Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

Figure 4: A3 Shear Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

Table 1: Arrow Drill Hole Data




Drill Hole

Athabasca
Group -
Basement
Unconformity

Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth (m)

From (m)

To (m)

Width
(m)

CPS Range

AR-18-186c1

330

-68

840.50

132.00

389.00

392.00

3.00

<500 - 33000






405.50

406.00

0.50

<500 - 1020






412.50

413.50

1.00

<500 - 8000






417.00

426.50

9.50

<500 - 9000






430.00

441.50

11.50

<500 - 61000






446.00

446.50

0.50

<500 - 850






454.00

462.50

8.50

<500 - 3800






467.50

469.00

1.50

<500 - 1480






507.50

514.50

7.00

<500 - 1450






531.00

552.50

21.50

<500 - 61000






582.50

583.00

0.50

<500 - 860






585.50

586.00

0.50

<500 - 600






590.00

597.50

7.50

<500 - 61000






666.00

666.50

0.50

<500 - 680






745.00

746.50

1.50

<500 - 1900

AR-18-186c2

330

-68

561.50

N/A

393.00

394.50

1.50

<500 - 1700






406.00

407.00

1.00

<500 - 2300






411.00

411.50

0.50

<500 - 2740






432.00

435.50

3.50

<500 - 12000






442.50

445.00

2.50

<500 - 61000






448.00

452.50

4.50

<500 - 16000






455.50

476.00

20.50

<500 - 61000






479.50

482.50

3.00

<500 - 1720






487.50

488.00

0.50

<500 - 520






492.00

505.00

13.00

<500 - 4700






507.50

508.50

1.00

<500 - 2300






512.50

516.00

3.50

<500 - 1800






550.00

554.00

4.00

<500 - 1250

AR-18-187c1

327

-70

657.50

117.00

237.50

238.00

0.50

<500 - 9400






276.50

308.00

31.50

<500 - 5800






316.00

320.50

4.50

<500 - 2710






325.50

326.00

0.50

<500 - 505






333.00

333.50

0.50

830 - 2690






350.00

350.50

0.50

<500 - 1730






402.50

406.50

4.00

<500 - 850






421.00

423.50

2.50

<500 - 1500






437.00

444.00

7.00

<500 - 1490






478.50

481.50

3.00

<500 - 1100






521.00

523.50

2.50

<500 - 26000

AR-18-187c2

327

-70

930.50

N/A

281.00

283.50

2.50

<500 - 930






301.50

328.50

27.00

<500 - 5230






331.00

331.50

0.50

750 - 1000






335.50

343.00

7.50

<500 - 1160






346.50

347.00

0.50

<500 - 710






356.50

357.00

0.50

<500 - 600






394.50

395.00

0.50

<500 - 900






398.50

399.00

0.50

<500 - 540






405.50

411.00

5.50

<500 - 1100






414.00

431.00

17.00

<500 - 61000






455.50

456.00

0.50

<500 - 520






487.00

495.00

8.00

<500 - 1270






892.50

893.50

1.00

<500 - 780

AR-18-187c3

327

-70

914.50

N/A

280.50

282.00

1.50

<500 - 700






288.00

302.00

14.00

<500 - 6580






309.00

315.50

6.50

<500 - 3400






330.00

347.50

17.50

<500 - 3400






350.50

352.50

2.00

<500 - 1210






359.50

360.50

1.00

<500 - 720






408.50

413.00

4.50

<500 - 1200






426.00

428.50

2.50

<500 - 880






535.50

536.50

1.00

<500 - 690






547.00

548.50

1.50

<500 - 17000






552.50

557.00

4.50

<500 - 3590






559.50

560.50

1.00

<500 - 710






563.50

580.00

16.50

<500 - 2040






583.50

585.50

2.00

<500 - 1260






596.50

603.00

6.50

<500 - 9800

AR-18-187c4

327

-70

918.50

N/A

283.00

330.50

47.50

<500 - 33000






339.50

340.00

0.50

<500 - 550






401.00

404.50

3.50

<500 - 3000






407.50

408.00

0.50

<500 - 720






412.50

417.00

4.50

<500 - 19500






419.50

427.00

7.50

<500 - 27000






448.50

453.00

4.50

<500 - 2800






460.00

460.50

0.50

<500 - 540






675.50

677.50

2.00

<500 - 1600

AR-18-188c1

327

-70

519.00

125.65

420.00

420.50

0.50

<500 - 630






432.00

432.50

0.50

<500 - 680






477.50

478.00

0.50

<500 - 550






483.50

489.00

5.50

<500 - 1800

AR-18-188c2

327

-70

582.00

N/A

428.00

428.50

0.50

<500 - 620






432.50

434.00

1.50

<500 - 1050






486.50

487.00

0.50

<500 - 725






493.00

495.00

2.00

<500 - 15400






500.00

501.50

1.50

<500 - 40000






505.50

507.00

1.50

<500 - 61000

AR-18-188c3

327

-70

597.00

N/A

440.00

440.50

0.50

<500 - 760






443.50

444.50

1.00

<500 - 760






495.50

496.00

0.50

<500 - 510






506.50

512.00

5.50

<500 - 2100






517.00

519.00

2.00

<500 - 9600






521.50

527.00

5.50

<500 - 7800






558.50

559.00

0.50

<500 - 560

AR-18-189c1

327

-70

984.50

128.00

704.00

705.00

1.00

<500 - 1100






855.00

859.00

4.00

<500 - 2258






867.00

871.00

4.00

<500 - 8200






884.50

885.50

1.00

<500 - 1400

AR-18-189c2

327

-70

1056.50

N/A

No Anomalous Radioactivity

AR-18-189c3

327

-70

972.50

N/A

828.50

836.50

8.00

<500 - 4700






843.50

848.00

4.50

<500 - 2200






850.50

855.00

4.50

<500 - 2400






862.50

873.00

10.50

<500 - 5600






879.50

885.00

5.50

<500 - 35000

AR-18-189c4

327

-70

930.50

N/A

820.00

826.00

6.00

<500 - 61000






832.00

852.50

20.50

<500 - 61000






855.50

868.50

13.00

<500 - 18500






873.50

874.00

0.50

<500 - 600

AR-18-189c5

327

-70

915.50

N/A

424.50

425.00

0.50

<500 - 1240






798.50

802.50

4.00

<500 - 24400






807.00

808.50

1.50

<500 - 2000






812.50

813.00

0.50

<500 - 840






816.50

819.50

3.00

<500 - 950






829.50

832.50

3.00

<500 - 8000






836.00

842.00

6.00

<500 - 6800

AR-18-195c1

327

-70

519.50

N/A

395.50

396.00

0.50

<500 - 600






406.50

407.00

0.50

<500 - 1010






409.50

410.50

1.00

<500 - 3700






414.00

415.00

1.00

<500 - 39000






428.50

432.00

3.50

<500 - 61000






436.00

465.00

29.00

<500 - 61000

AR-18-195c2

327

-70

543.50

N/A

405.00

406.00

1.00

<500 - 3000






409.00

409.50

0.50

<500 - 630






415.50

416.00

0.50

<500 - 20000






420.00

421.00

1.00

<500 - 4500






431.00

433.00

2.00

<500 - 61000






441.50

442.00

0.50

<500 - 4800






446.00

451.00

5.00

<500 - 22000






457.00

460.50

3.50

<500 - 33000






463.00

463.50

0.50

<500 - 1700






467.00

469.50

2.50

<500 - 16000






472.50

486.00

13.50

<500 - 61000

AR-18-195c3

327

-70

501.50

N/A

387.00

395.50

8.50

<500 - 3200






398.00

405.00

7.00

<500 - 8000






430.00

433.00

3.00

<500 - 1060






436.00

437.00

1.00

<500 - 1100

AR-18-197c1

327

-70

630.50

N/A

522.50

523.00

0.50

<500 - 580






563.00

564.50

1.50

<500 - 28000






575.50

576.50

1.00

<500 - 60000






582.00

582.50

0.50

<500 - 2050






587.00

591.50

4.50

<500 - 2550






595.50

596.50

1.00

<500 - 1300






606.50

608.50

2.00

<500 - 1400






612.50

618.50

6.00

<500 - 2200






623.00

627.00

4.00

<500 - 830






630.00

630.50

0.50

<500 - 1450

AR-18-197c2

327

-70

813.50

N/A

585.00

585.50

0.50

500 - 20500






594.50

598.00

3.50

<500 - 5800






610.50

620.50

10.00

<500 - 61000






624.00

629.50

5.50

<500 - 2800






690.00

696.50

6.50

<500 - 2700






703.50

704.00

0.50

<500 - 700






719.00

719.50

0.50

<500 - 1150






753.00

753.50

0.50

<500 - 550






765.50

769.50

4.00

<500 - 13200

AR-18-197c3

327

-70

723.50

N/A

549.00

549.50

0.50

<500 - 570






586.00

586.50

0.50

<500 - 7200






589.50

590.50

1.00

<500 - 5800






595.00

596.00

1.00

500 - 61000






620.00

621.00

1.00

<500 - 61000






630.50

631.00

0.50

<500 - 780






634.50

635.00

0.50

<500 - 3200






638.00

655.50

17.50

<500 - 61000






659.00

661.50

2.50

<500 - 7100






666.50

669.00

2.50

<500 - 2550






673.00

674.00

1.00

<500 - 1360






676.50

687.50

11.00

<500 - 1630






703.00

703.50

0.50

<500 - 1000






707.00

708.50

1.50

<500 - 1800






711.00

711.50

0.50

<500 - 530

AR-18-197c4

327

-70

858.50

N/A

607.00

608.50

1.50

<500 - 61000






616.00

616.50

0.50

<500 - 7600






632.50

634.00

1.50

<500 - 61000






641.00

643.00

2.00

<500 - 11500






645.50

646.50

1.00

<500 - 8450






658.50

660.50

2.00

<500 - 1000






664.00

665.00

1.00

<500 - 1400






667.50

668.00

0.50

<500 - 790






674.50

688.50

14.00

<500 - 61000






697.50

698.00

0.50

<500 - 505






744.50

745.00

0.50

<500 - 590






759.00

760.00

1.00

<500 - 2100






784.50

786.50

2.00

<500 - 16600






789.50

790.50

1.00

<500 - 2600






827.00

832.00

5.00

<500 - 13000






835.50

838.00

2.50

<500 - 4100

AR-18-200c1

327

-70

885.50

121.20

489.50

492.50

3.00

<500 - 1900






530.50

531.50

1.00

<500 - 6200






536.00

537.00

1.00

<500 - 3600






606.50

607.00

0.50

<500 - 6500






627.50

629.00

1.50

<500 - 16000






634.50

635.00

0.50

<500 - 1600






645.50

646.00

0.50

<500 - 2000






651.00

651.50

0.50

<500 - 27000






659.00

671.00

12.00

<500 - 5000






674.00

689.50

15.50

<500 - 4700






705.50

710.50

5.00

<500 - 3250






714.00

716.00

2.00

<500 - 2950






728.50

729.00

0.50

<500 - 1290






737.50

740.50

3.00

<500 - 3200






745.50

759.50

14.00

<500 - 61000






763.50

774.00

10.50

<500 - 24000

AR-18-200c2

327

-70

900.00

N/A

531.00

532.00

1.00

<500 - 1100






536.00

536.50

0.50

<500 - 810






644.50

647.50

3.00

<500 - 21000






653.00

653.50

0.50

<500 - 12800






672.50

692.00

19.50

<500 - 3200






702.00

703.50

1.50

<500 - 13000






721.50

736.50

15.00

<500 - 5360






739.00

769.50

30.50

<500 - 61000






772.00

774.00

2.00

<500 - 1010






779.00

782.00

3.00

<500 - 2300






835.00

835.50

0.50

<500 - 690

AR-18-200c3

327

-70

882.50

N/A

618.50

619.00

0.50

<500 - 4400






645.00

645.50

0.50

<500 - 11000






648.50

649.00

0.50

<500 - 2250






653.00

653.50

0.50

<500 - 1100






664.00

664.50

0.50

<500 - 530






667.00

671.00

4.00

<500 - 4300






673.50

675.50

2.00

<500 - 1890






679.00

683.50

4.50

<500 - 15000






693.50

699.50

6.00

<500 - 2500






715.00

726.00

11.00

<500 - 1380






730.50

746.50

16.00

<500 - 2400






758.00

759.50

1.50

<500 - 61000






765.50

770.50

5.00

<500 - 7300






810.00

810.50

0.50

<500 - 650

AR-18-200c4

327

-70

870.50

N/A

503.00

503.50

0.50

<500 - 940






514.50

515.00

0.50

<500 - 1210






521.50

522.00

0.50

<500 - 8750






611.50

616.50

5.00

<500 - 23000






628.50

631.50

3.00

<500 - 5600






634.50

639.00

4.50

<500 - 21000






644.00

644.50

0.50

<500 - 750






649.50

651.50

2.00

<500 - 2220






654.50

656.50

2.00

<500 - 2020






678.00

682.00

4.00

<500 - 3200






724.00

744.00

20.00

<500 - 54000






749.50

761.00

11.50

<500 - 60000






766.00

767.50

1.50

<500 - 3000






773.00

777.00

4.00

<500 - 7100






781.00

788.50

7.50

<500 - 4990






791.50

792.00

0.50

<500 - 820






796.00

799.00

3.00

<500 - 12100

AR-18-202c1

327

-70

600.50

N/A

451.00

452.00

1.00

<500 - 1850






461.50

465.00

3.50

<500 - 7750






473.50

474.50

1.00

<500 - 720






477.50

483.00

5.50

<500 - 30000






485.50

486.50

1.00

<500 - 2100






495.50

509.50

14.00

<500 - 61000






512.00

523.50

11.50

<500 - 61000






528.00

529.00

1.00

<500 - 6000






532.00

536.00

4.00

<500 - 61000






541.00

541.50

0.50

<500 - 15000






550.00

550.50

0.50

<500 - 1100






565.00

566.50

1.50

<500 - 800






596.50

597.00

0.50

<500 - 550

AR-18-202c2

327

-70

621.50

N/A

368.50

369.50

1.00

<500 - 1300






455.50

456.00

0.50

<500 - 620






461.50

468.00

6.50

<500 - 5600






478.50

479.50

1.00

<500 - 1200






483.50

484.50

1.00

<500 - 24000






494.50

495.00

0.50

<500 - 630






504.00

509.50

5.50

<500 - 16000






516.50

517.00

0.50

<500 - 2500






522.00

524.50

2.50

<500 - 39000






528.00

530.00

2.00

<500 - 32000






532.50

533.00

0.50

<500 - 740






543.50

544.50

1.00

<500 - 2800






549.00

552.00

3.00

<500 - 10800






571.50

576.50

5.00

<500 - 61000






580.00

581.00

1.00

<500 - 1700






593.50

595.00

1.50

<500 - 1300






604.50

616.50

12.00

<500 - 7800

AR-18-205c1

355

-70

571.00

103.15

No Anomalous Radioactivity

AR-18-206c1

327

-68

777.50

103.95

501.50

504.00

2.50

<500 - 1000






553.50

557.50

4.00

<500 - 14000






575.50

576.00

0.50

<500 - 1300






584.00

585.50

1.50

<500 - 16000






634.50

635.00

0.50

1000 - 61000






640.00

640.50

0.50

<500 - 600






649.00

657.50

8.50

<500 - 29000






671.50

676.50

5.00

<500 - 34000






681.00

690.00

9.00

<500 - 42000






694.50

695.00

0.50

<500 - 1750






697.50

700.00

2.50

<500 - 4900






712.50

717.50

5.00

<500 - 890






726.00

726.50

0.50

<500 - 2350






732.00

732.50

0.50

<500 - 1150






738.00

738.50

0.50

<500 - 530






742.00

745.50

3.50

<500 - 5300






751.00

751.50

0.50

<500 - 500






761.50

771.00

9.50

<500 - 5200

AR-18-207c1

327

-68

1083.50

123.40

573.00

575.50

2.50

<500 - 4000






580.50

581.00

0.50

<500 - 1900






712.00

712.50

0.50

<500 - 7500

AR-18-208c1

327

-68

802.70

108.15

198.50

199.00

0.50

<500 - 1050






562.00

562.50

0.50

<500 - 1350






598.00

598.50

0.50

<500 - 1170






637.50

638.00

0.50

<500 - 8900






662.00

662.50

0.50

<500 - 600






686.00

688.50

2.50

<500 - 32800






717.50

722.50

5.00

<500 - 1020






743.50

744.50

1.00

<500 - 660

AR-18-209c1

327

-68

762.50

115.60

500.50

507.00

6.50

<500 - 1730






709.00

709.50

0.50

<500 - 580

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined
  • "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval
  • Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip

Table 2: South Arrow Drill Hole Data




Drill Hole

Athabasca
Group -
Basement
Unconformity
Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From (m)

To (m)

Width
(m)

CPS Range

AR-18-190c1

315

-68

348.00

N/A

No Anomalous Radioactivity

AR-18-191c1

315

-70

375.00

N/A

No Anomalous Radioactivity

AR-18-192c1

315

-68

429.00

N/A

300.50

301.00

0.50

<500 - 550






304.00

305.00

1.00

<500 - 970

AR-18-193c1

315

-70

657.50

N/A

No Anomalous Radioactivity

AR-18-194c1

315

-68

555.50

N/A

356.50

357.00

0.50

<500 - 2800






375.50

376.00

0.50

<500 - 505






457.50

458.00

0.50

<500 - 570






470.00

470.50

0.50

<500 - 550






478.00

479.00

1.00

<500 - 850

AR-18-196c1

315

-67

615.50

N/A

No Anomalous Radioactivity

AR-18-198c1

315

-68

543.00

N/A

338.50

339.50

1.00

<500 - 1200






367.50

368.00

0.50

<500 - 600






456.00

458.00

2.00

<500 - 2200






460.50

465.00

4.50

<500 - 3300






468.50

469.00

0.50

<500 - 505

AR-18-199c1

315

-68

567.00

N/A

345.50

347.50

2.00

<500 - 850






350.50

351.00

0.50

<500 - 620






359.50

360.00

0.50

<500 - 580






374.50

378.00

3.50

<500 - 13500

AR-18-199c2

315

-68

486.00

N/A

402.00

402.50

0.50

<500 - 700

AR-18-201c1

315

-66

444.00

N/A

252.00

252.50

0.50

<500 - 630

AR-18-203c1

315

-66

510.50

N/A

253.50

254.00

0.50

<500 - 790

AR-18-204c1

315

-66

524.00

N/A

No Anomalous Radioactivity

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined
  • "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval
  • Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip

Table 3: Regional Exploration Hole Data




Drill Hole

Athabasca
Group -

Basement
Unconformity

Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From (m)

To (m)

Width

(m)

CPS Range

RK-18-120

140

-70

615.50

N/A

No Anomalous Radioactivity

RK-18-121

340

-70

609.00

N/A

No Anomalous Radioactivity

RK-18-122

320

-70

651.50

N/A

No Anomalous Radioactivity

RK-18-123

340

-70

561.50

N/A

No Anomalous Radioactivity

RK-18-124

340

-67

504.50

N/A

No Anomalous Radioactivity

*RK-18-125

320

-66

496.00

N/A

290.00

291.50

1.50

<500 - 4300






321.00

323.00

2.00

<500 - 2700

RK-18-126

327

-66

532.50

N/A

No Anomalous Radioactivity

RK-18-127

345

-66

423.50

N/A

No Anomalous Radioactivity

RK-18-128

320

-66

407.00

N/A

No Anomalous Radioactivity

RK-18-129

325

-66

399.00

N/A

No Anomalous Radioactivity

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined
  • "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval
  • Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip
  • *Mineralization listed in RK-18-125 was determined via a RS-125 Spectrometer to be of a Thorium source.

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Deposit in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. The Arrow deposit's updated mineral resource estimate with an effective date of December 20, 2016 was released in March 2017, and comprised 179.5 M lbs U3O8 contained in 1.18 M tonnes grading 6.88% U3O8 in the Indicated Mineral Resource category and an additional 122.1 M lbs U3O8 contained in 4.25 M tonnes grading 1.30% U3O8 in the Inferred Mineral Resource category.

Technical Information

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-120 gamma-ray scintillometer. 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.

Split core samples will be taken systematically, and intervals will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples sent to SRC will be analyzed using ICP-MS for trace elements on partial and total digestions, ICP-OES for major and minor elements on a total digestion, and fusion solution of boron by ICP-OES. Mineralized samples are analyzed for U3O8 by ICP-OES and select samples for gold by fire assay. Assay results will be released when received and after stringent internal QA/QC protocols are passed.

All scientific and technical information in this news release has been prepared by or reviewed and approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President - Operations & Project Development for NexGen. Mr. Boisjoli is a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols.

For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the mineral resource please refer to the technical report entitled "Technical Report on the Preliminary Economic Assessment of the Arrow Deposit, Rook 1 Property, Province of Saskatchewan, Canada" dated effective September 1, 2017 (the "Rook 1 Technical Report") prepared by Jason J. Cox, David M. Robson, Mark B. Mathisen, David A. Ross, Val Coetzee and Mark Wittrup, each of whom is a "qualified person" under NI 43-101. The Rook I Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com.

U.S. investors are advised that while the terms "indicated resources" and "inferred resources" are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize these terms. U.S. investors are cautioned not to assume that any part or all of the material in these categories will ever be converted into mineral reserves.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 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 the activities, events or developments that the Company expects or anticipates will or may occur in the future. 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.

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 proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price 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.

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, 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, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, 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 licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company's Annual Information Form dated March 31, 2017 under "Risk Factors".

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 implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

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.

NexGen Energy Ltd. (CNW Group/NexGen Energy Ltd.)

SOURCE NexGen Energy Ltd.