Rook I

NexGen is a well-funded exploration and development company with a portfolio of high-impact projects across the Athabasca Basin. Its portfolio is centered in the large-scale southwestern Athabasca Basin where NexGen holds  199,576 hectares of land. NexGen's southwestern properties host the high-grade Arrow Deposit (made February 21, 2014), the South Arrow discovery (made July, 2017) the Harpoon discovery (made August, 2016), the Bow discovery (made March, 2015) and the Cannon area (discovered April, 2016) all located on the Company's 100% owned Rook I property.

NexGen is led by a team of experienced uranium industry professionals with expertise in exploration, corporate finance, and mine development.

Arrow Deposit, Rook I: 

In February 2021, NexGen announced the positive results of an independent Feasibility Study (“FS”), Mineral Reserve, and Mineral Resource update of the basement-hosted Arrow Deposit. The Company's 100%-owned Rook I project hosts the Arrow Deposit which is principally comprised of Measured Mineral Resources – the highest level of confidence determination within Mineral Resources – with Measured Mineral Resources of 209.6 M lbs of U3O8 contained in 2.18 M tonnes grading 4.35% U3O8, Indicated Mineral Resources of 47.1 M lbs of U3O8 contained in 1.57 M tonnes grading 1.36% U3O8, and Inferred Mineral Resources of 80.7 M lbs of U3O8 contained in 4.40 M tonnes grading 0.83% U3O8 (see the Company's technical disclosure statement: https://www.nexgenenergy.ca/corporate/corporate-governance/). Mineralization at the Arrow Deposit is defined by an area comprised of several steeply dipping shears named A0 through A5, which locally host high grade uranium mineralization. The mineralized area is 315 m wide with an overall strike of 980 m.  Mineralization is noted to occur 100 m below surface and extends to a depth of 980 m.  The individual shear zones vary in thickness from two metres to 60 m. The Arrow Deposit is open in most directions and at depth.

 

South Arrow Discovery, Rook I

South Arrow was discovered in July 2017, and is located 400 m South of the Arrow Deposit. High grade uranium mineralization occurs as accumulations of semi-massive to massive pitchblende similar to that seen in the High-Grade Domains of the Arrow Deposit Aggressive step-out drilling has extended the strike length and vertical extent of high-grade mineralization to 290 m and 185 m, respectively.

Harpoon Discovery, Rook I: 

The Rook I project hosts the land-based Harpoon Discovery, which is defined by strong visible uranium and dense accumulations of massive to semi-massive pitchblende mineralization. Combined with Arrow, uranium occurrences along trend have now been identified over a mineralized strike length of approximately 6 km, all within the Rook I project.

Discovery hole HP-16-08 intersected 17.5 m at 3.89% U3O8 (219.5 to 237.0 m) including 2.5 m at 12.49% U3O8 (224.5 to 227.0 m). Furthermore, hole HP-16-20, which was drilled 73 m up-dip and northeast from hole HP-16-08, intersected 13.5 m at 3.94% U3O8 (182.5 to 196.0 m) including 2.5 m at 20.90% U3O8 (187.0 to 189.5 m).

The Harpoon Discovery is located on a Rook I internal mineral disposition which is subject to a 2% net smelter return royalty (the “NSR”) of which 1% can be repurchased by the Company for $1 million which is held by Advanced Royalty Corp. In addition, Harpoon is subject to a 10% production carried interest held by Terra Ventures Inc. which provides Terra Ventures with a right to 10% of potential future production provided Terra Ventures pays NexGen their 10% pro rata portion of the collective expenditure from June 20, 2005.

Bow Discovery, Rook I

The Rook I property hosts the Bow Discovery which is located 3.7 km northeast of the Arrow Deposit along the Patterson Corridor and was discovered in March 2015.

Drill hole BO-15-10 intersected 9.5 m at 0.20% U3O8 (204.5 to 214.0 m) including 1.0 m at 1.44% U3O8 (210.0 to 211.0 m). Mineralization at the Bow Discovery occurs as disseminations, fracture linings, and veinlets of pitchblende, often hosted within graphitic mylonite or faulted and altered host rock. The Bow Discovery was made by targeting geophysical signatures similar to Arrow that are coincident with breaks in the VTEM conductor.

The Bow Discovery is located on the Rook I property within an internal mineral disposition that is subject to a 2% net smelter return royalty (the “NSR”) held by Advanced Royalty Corp., of which 1% can be repurchased by the Company for $1 million. In addition, Bow is subject to a 10% production carried interest held by Terra Ventures Inc., which provides Terra Ventures with a right to 10% of potential future production on the Bow Discovery, provided Terra Ventures pays NexGen their 10% pro rata portion of the collective expenditure from June 20, 2005.

Athabasca Basin

IsoEnergy Ltd.

NexGen holds a 51% interest in IsoEnergy Ltd. (www.isoenergy.ca) which holds a highly prospective portfolio of Eastern Athabasca Basin properties that include Thorburn Lake (7 km from Cigar Lake) and the Radio Project (adjacent to Roughrider deposit).