NexGen Energy Completes Ground DC Resistivity Survey, Doubles Size of Drill Program at its 100% Owned Rook 1 Project


July 24, 2013


NexGen Energy Ltd.
(TSX.V:NXE) ("the Company" or "NexGen") is pleased to announce it has entered into a contract with GDC Drilling for diamond core drilling at its 100% owned Rook I project to commence mid-August 2013.

Highlights
  • 3,000m planned program doubles the size of previous planned program of 1,500m (see news release 15 May 2013),
  • Two rigs to test several land-based targets identified by VTEM and Gravity Surveys in the southwestern section of Rook I,
  • Rook 1 is immediately adjacent to the high grade Patterson Lake South discovery owned 50/50 by Fission Uranium Corporation and Alpha Minerals Inc.
The 3,000m program (approximately 20 holes) will incorporate two rigs and focus upon target areas in the southwestern section of Rook I identified by VTEM airborne and ground gravity surveys. The targets are all land based, at shallow depth and immediately northeast to the high-grade uranium mineralization discovered on Patterson Lake South. The northeast trending mineralized conductor corridor is interpreted to extend into the southwestern zone of Rook I. (See figure 1 for Rook I project location map).

The recently completed ground DC resistivity survey covering the southwestern area of Rook I will further assist in refining previously identified drilling targets. (See figure 2 for Rook I ground DC resistivity grid location)

Leigh Curyer, NexGen's CEO commented "The 100% owned Rook I is an exciting project for NexGen and our investors. NexGen has doubled the size of the drill campaign; the land-based targets are shallow and are only some of a number of highly prospective identified target areas on the property. We look forward to commencing this campaign in mid-August."

Figure 1: Rook I project location map and Patterson Lake South discovery location
NXE Total Field Magnetic Data Compilation

Figure 2 -- Rook I, completed ground DC resistivity grid
NXE Total Field Magnetic Data Compilation

Andrew Browne, NexGen's Vice-President, Exploration and Development, a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects has reviewed and approved the contents of this news release.

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.

NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook 1, immediately adjacent to the North East of Patterson Lake South, and an option to earn a 70% interest in the Radio Project, immediately adjacent to Rio Tinto's Roughrider Deposit. NexGen holds one of the most dominant land positions on the Western side of the Athabasca Basin.

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 "will" and planned" and similar expressions. 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. Further, mineralization on properties held by third parties adjacent to NexGen's properties (including Patterson Lake South and the Roughrider Deposit) are not necessarily indicative of mineralization on NexGen's properties.

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.