NexGen Energy Ltd.: Radio Option Agreement Extension

January 16, 2014

NexGen Energy Ltd. (TSX-V:NXE) ("NexGen or the "Company") is pleased to announce that it has entered into a letter agreement (the "Letter Agreement") with Michael Lederhouse, Timothy Young and Matthew Mason (collectively, the "Optionors") which amends the Radio Option Agreement dated December 5, 2011, as amended (the "the Option Agreement"). Under the Letter Agreement, the amount of remaining earn-in expenditures to be incurred under the Option Agreement will be $10,000,000 and the time period for incurring such expenditures has been extended to May 31, 2017. Previously, all expenditures were required by May 31, 2015.

As consideration for entering into the Letter Agreement, the Company has agreed to issue to the Optionors an aggregate of 5,714,286 units (the "Units"), at a price of C$0.35 per Unit, with each Unit comprising one common share in the capital of the Company and one common share purchase warrant with an exercise price of C$0.50 per common share, expiring May 31, 2017.

Leigh Curyer, CEO of NexGen comments, "We are very pleased with this arrangement which extends our earn-in period on Radio by two years. This gives us substantial time to make all required Radio expenditures and allows us to focus on a very large drill program this winter at our Rook I property following a very successful summer drilling campaign."

The Units will be issued and registered to the three Optionors individually, as to one third each. The Letter Agreement further provides that none of the Optionors is part of a combination of persons or companies acting jointly or in concert by virtue of any agreement, arrangement, commitment or understanding (including either or both of the other Optionors), with respect to the acquisition or holding of common shares or other securities of the Company.

The issuance of the Units is subject to the satisfaction of certain conditions, including the approval of the TSX Venture Exchange (the "TSXV"). The issuance is expected to close as soon as possible upon TSXV approval, and in any event, no later than February 28, 2014, or such other date as may be agreed to by the parties, whereupon the Letter Agreement will automatically terminate if the issuance of the units has not been completed by that date.

NexGen is also pleased to announce that it has appointed Diana Mark as its Corporate Secretary. Diana's experience and skill set will be a great fit for NexGen.

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 exploration professionals with a track record in the discovery of unconformity-style uranium deposits in Canada.

Leigh Curyer, Chief Executive Officer
NexGen Energy Ltd.

The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, but not always, forward-looking information is identifiable by the use of words such as "expects", "anticipates", "believes", "projects", "plans", "intends" and other similar words, or statements that an event "may", "will", "should", "could", or "might" occur or be achieved and other similar expressions. Examples of such forward-looking information include, among others, statements regarding: completion of the issuance of the Units; satisfaction of conditions to the closing of such issuance, including approval of the TSXV; and the expected closing date of such issuance.

Forward-looking information is based on the then current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Such information is not a guarantee of future performance and undue reliance should not be placed on forward-looking information. Assumptions and factors underlying the Company's expectations regarding forward-looking information contained herein include, among others: that general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed on reasonable terms; that the Company's current exploration activities can be achieved and that its other corporate activities will proceed as expected; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner.

Although the assumptions made by the Company in providing forward-looking information are considered reasonable by management at the time the forward-looking information is given, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information also involves known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information, including, among others: risks related to the availability of financing on commercially reasonable terms and the expected use of the proceeds; changes in the market; potential downturns in economic conditions; industry conditions; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results of exploration; future prices of metal; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks; changes in laws and regulations; community relations; and delays in obtaining governmental or other approvals or financing. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. NexGen 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. The reader is cautioned not to place undue reliance on forward-looking information.