Significant Northeast Expansion and Massive Pitchblende Discovered in the A3 at Arrow


April 18, 2017

VANCOUVER, April 18, 2017 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, OTCQX:NXGEF) is pleased to report results from 18 drill holes from the on-going winter 2017 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.

Highlights:

Northeast A3 Shear

  • Step out scissor hole AR-17-136c2 (170 m northeast and up-dip from AR-15-57c2 and 70 m northeast and up-dip from the edge of the A3 High Grade Domain) intersected 26.0 m of total composite mineralization including 6.7 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) featuring 5.3 m of continuous massive to semi-massive pitchblende including 2.0 m at a minimum-of-greater-than 61,000 cps within a 59.0 m section (399.5 to 458.5 m). This hole is marked by dense accumulations of massive to semi-massive pitchblende mineralization and is the strongest zone of mineralization encountered in the A3 shear to date. This newly discovered area is open to the northeast.
  • Infill scissor hole AR-17-121c2 (75 m up-dip from AR-15-57c2) intersected 65.5 m of total composite mineralization including 9.7 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) featuring 0.5 m at a minimum-of-greater-than 61,000 cps within an 86.5 m section (473.5 to 560.0 m).
  • Infill scissor hole AR-17-121c1 (45 m up-dip from AR-15-57c2) intersected 81.0 m of total composite mineralization including 6.0 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 106.0 m section (481.0 to 587.0 m).

 

Northeast A2 Shear

  • Step out scissor hole AR-17-118c2 (180 m northeast and down-dip from AR-15-44b) intersected 49.0 m of total composite mineralization including 6.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 61.0 m section (691.5 to 752.5 m) within a gap in a northeast part of the Mineral Resource domains.
  • Step out hole AR-17-119c2 (200 m northeast and down-dip from AR-15-44b) intersected 39.0 m of total composite mineralization including 1.65 m of total composite off-scale radioactivity (>10,000 to 49,000 cps) within an 80.5 m section (549.5 to 630.0 m).
  • Step out hole AR-17-127c2 (255 m northeast and down-dip from AR-15-44b) intersected 18.5 m of total composite mineralization including 1.6 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 128.5 m section (662.5 to 791.0 m).
  • Infill scissor hole AR-17-121c1 (172 m northeast and down-dip from AR-15-44b) intersected 58.0 m of total composite mineralization including 5.9 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 149.5 m section (636.5 to 786.0 m).

 

Northeast A4 Shear

  • Step out scissor hole AR-17-129c1 (90 m northeast and up-dip from AR-15-41 and 30 m northeast of the A4 Mineral Resource domains) intersected 33.5 m of total composite mineralization including 2.7 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 60.0 m section (763.5 to 823.5 m).

 

Arrow, Activities & Financial

  • The 2017 winter program comprising a minimum of 35,000 m of drilling with seven drill rigs will continue until the end of April.
  • None of the drilling completed in 2017 was included in the NI 43-101 Updated Mineral Resource estimate for the Arrow Deposit released on March 6, 2017.
  • The Company has cash on hand of approximately $58 million.

 

Longitudinal sections and a plan map showing drill hole locations are shown in Figures 1 to 3. A photo of the new high grade mineralization intersected in AR-17-136c2 is included in Figure 4. Table 1 is a summary of the mineralized intervals.

Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Drilling has been very successful in significantly expanding mineralization at Arrow on several fronts. The discovery of massive to semi-massive pitchblende mineralization encountered in hole AR-17-136c2 in the A3 shear looks identical to that found in the A2 Sub-Zone. The higher grade A2 Sub-Zone is located southwest of an interpreted cross cutting structure, and it appears that a similar Sub-Zone may be developing within the A3 shear to the northeast of this same cross cutting structure. Further step outs into the northeast gap of the A2 shear have returned additional high grade intervals, where we expect mineralization to continue further northeast and down-dip to drill hole AR-15-50. Scissor drill holes stepping out and within the A2 and A3 High Grade Domains continues to exceed our expectations."

Leigh Curyer, Chief Executive Officer, commented: "Drilling at Arrow continues to highlight how much room remains for material growth within the footprint of mineralization as well to the northeast demonstrated by today's results. Together with ongoing expansion the team is simultaneously undertaking engineering and environmental studies to determine to optimal development scenario for Arrow."


Table 1: Arrow Deposit 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-17-114c3

327

-70

792.50

130.00

639.00

639.50

0.50

<500 - 520

         

644.50

651.50

7.00

<500 - 43000

         

678.50

679.00

0.50

<500 - 1000

         

685.00

685.50

0.50

<500 - 850

         

703.50

714.50

11.00

<500 - 32000

         

723.00

726.50

3.50

<500 - 10500

AR-17-118c2

327

-70

828.50

129.90

458.50

459.00

0.50

<500 - 580

         

511.50

512.50

1.00

<500 - 1200

         

524.00

525.00

1.00

<500 - 2200

         

534.00

537.50

3.50

<500 - >61000

         

551.50

554.50

3.00

<500 - 50000

         

568.00

571.50

3.50

<500 - 14000

         

579.50

588.00

8.50

<500 - >61000

         

590.50

593.50

3.00

<500 - >61000

         

602.50

603.50

1.00

1200 - 11500

         

613.50

641.00

27.50

<500 - >61000

         

691.50

711.00

19.50

<500 - 31000

         

714.00

736.00

22.00

<500 - >61000

         

738.50

743.00

4.50

<500 - >61000

         

746.50

749.00

2.50

<500 - 1800

         

752.00

752.50

0.50

<500 - 530

AR-17-119c2

147

-67

1065.50

119.50

381.50

391.50

10.00

<500 - 9500

         

404.00

404.50

0.50

<500 - 1250

         

411.50

412.50

1.00

<500 - 1650

         

461.50

469.00

7.50

<500 - 25000

         

475.50

479.00

3.50

<500 - 1100

         

489.00

499.00

10.00

<500 - 8900

         

507.00

507.50

0.50

<500 - 2650

         

515.50

516.00

0.50

<500 - 1450

         

520.50

534.00

13.50

<500 - 9900

         

540.50

541.00

0.50

<500 - 770

         

549.50

577.50

28.00

<500 - 49000

         

603.00

610.50

7.50

<500 - 8000

         

613.50

614.00

0.50

<500 - 800

         

627.00

630.00

3.00

<500 - 1700

         

715.50

726.00

10.50

<500 - >61000

         

891.00

891.50

0.50

<500 - 1100

         

970.00

970.50

0.50

<500 - 520

         

1011.50

1012.00

0.50

<500 - 650

AR-16-120c1

327

-70

846.50

114.80

534.50

535.50

1.00

500 - >61000

         

620.00

620.50

0.50

<500 - 560

         

625.50

626.00

0.50

<500 - 1200

         

635.00

639.00

4.00

<500 - 25000

         

664.50

665.00

0.50

<500 - 580

AR-16-120c2

327

-70

864.50

114.80

534.50

535.00

0.50

<500 - 610

         

552.00

552.50

0.50

<500 - 700

         

633.00

634.50

1.50

<500 - 5900

         

691.00

691.50

0.50

<500 - 700

         

717.00

719.00

2.00

<500 - 2900

AR-16-121c1

327

-70

816.50

134.10

455.00

458.50

3.50

<500 - 11000

         

462.50

463.00

0.50

<500 - 800

         

481.00

482.00

1.00

<500 - 30000

         

485.00

496.00

11.00

<500 - 8900

         

498.50

505.00

6.50

<500 - 36000

         

509.00

514.00

5.00

<500 - 11000

         

520.00

548.00

28.00

<500 - >61000

         

551.50

577.00

25.50

<500 - 47000

         

580.00

583.00

3.00

<500 - 1050

         

586.00

587.00

1.00

<500 - 2400

         

636.50

664.50

28.00

<500 - >61000

         

669.00

677.50

8.50

<500 - 60000

         

680.00

681.00

1.00

1100 - 35000

         

684.00

685.00

1.00

<500 - 35000

         

687.50

688.50

1.00

<500 - 1250

         

691.00

693.50

2.50

<500 - 2000

         

716.50

720.00

3.50

<500 - >61000

         

722.50

734.00

11.50

<500 - 36000

         

785.00

786.00

1.00

<500 - 1850

AR-17-121c2

327

-70

813.50

134.10

473.50

474.00

0.50

<500 - 4600

         

483.50

485.00

1.50

<500 - 7100

         

487.50

491.00

3.50

<500 - 47000

         

497.50

535.50

38.00

<500 - >61000

         

538.00

560.00

22.00

<500 - 2700

         

616.50

620.50

4.00

<500 - 1600

         

623.50

624.00

0.50

<500 - 740

         

628.50

631.00

2.50

<500 - 29000

         

642.50

648.50

6.00

<500 - 30000

         

651.00

668.50

17.50

<500 - 55500

         

689.50

690.50

1.00

<500 - 2700

         

710.50

712.00

1.50

<500 - 3400

         

735.00

735.50

0.50

<500 - 1300

         

754.50

759.50

5.00

<500 - 2200

AR-17-126c1

327

-70

831.00

131.70

397.50

398.00

0.50

<500 - 2000

         

404.50

405.00

0.50

<500 - 650

         

408.50

411.50

3.00

<500 - 26800

         

424.00

424.50

0.50

<500 - 640

         

429.50

430.00

0.50

1600 - 56000

         

437.00

440.00

3.00

<500 - 1670

         

442.50

444.50

2.00

<500 - 7900

         

447.00

448.00

1.00

<500 - 9100

         

451.50

453.50

2.00

<500 - 5900

         

457.50

468.00

10.50

<500 - 56500

         

470.50

471.00

0.50

<500 - 520

         

477.50

490.50

13.00

<500 - 2300

         

561.50

562.00

0.50

<500 - 730

         

575.00

576.50

1.50

<500 - 1150

         

584.50

585.50

1.00

<500 - 6000

         

597.00

602.50

5.50

<500 - 2630

         

606.00

609.00

3.00

<500 - 1800

         

612.00

613.00

1.00

<500 - 5650

         

619.00

622.00

3.00

<500 - 980

         

625.00

627.00

2.00

<500 - 2400

         

749.50

756.50

7.00

<500 - 2700

         

805.00

806.50

1.50

<500 - 1300

AR-17-126c2

327

-70

543.00

131.70

426.50

427.00

0.50

2500 - 58000

         

429.50

430.00

0.50

<500 - 18800

         

433.00

433.50

0.50

<500 - 24000

         

440.50

441.50

1.00

<500 - 10500

         

444.00

444.50

0.50

3000 - 38000

         

451.50

452.50

1.00

<500 - 5460

         

460.00

468.00

8.00

<500 - >61000

         

479.00

480.50

1.50

<500 - 10800

         

486.50

508.00

21.50

<500 - >61000

         

512.50

514.00

1.50

<500 - 600

         

525.50

526.50

1.00

<500 - 650

AR-17-127c1

147

-67

882.50

117.90

478.00

482.00

4.00

<500 - 28000

         

486.00

491.00

5.00

<500 - 2900

         

512.00

515.00

3.00

<500 - 15000

         

543.00

544.50

1.50

<500 - 10700

         

554.00

555.00

1.00

<500 - 910

         

589.50

595.50

6.00

<500 - 4600

         

602.00

604.50

2.50

<500 - 2200

         

608.50

609.00

0.50

<500 - 700

         

611.50

612.50

1.00

<500 - 3300

         

619.50

620.50

1.00

<500 - 5000

         

626.50

628.50

2.00

<500 - 3100

         

641.00

647.00

6.00

<500 - 11000

         

670.50

671.00

0.50

<500 - 520

         

675.00

676.00

1.00

<500 - 830

         

679.00

680.00

1.00

<500 - 950

         

740.50

741.00

0.50

<500 - 730

         

757.50

763.50

6.00

<500 - 2900

         

768.50

772.00

3.50

<500 - 2100

         

775.00

779.00

4.00

<500 - 1300

         

782.50

785.50

3.00

<500 - 1100

         

807.50

810.00

2.50

<500 - 1100

         

856.00

857.00

1.00

<500 - 2800

AR-17-127c2

147

-67

954.50

117.90

507.00

508.00

1.00

<500 - 850

         

533.50

534.50

1.00

<500 - 650

         

568.00

568.50

0.50

<500 - 975

         

662.50

666.00

3.50

<500 - 2750

         

668.50

669.00

0.50

<500 - 980

         

679.50

687.50

8.00

<500 - >61000

         

761.50

765.50

4.00

<500 - 4000

         

788.50

791.00

2.50

<500 - 8500

         

843.50

845.00

1.50

<500 - 1700

         

849.50

850.00

0.50

<500 - 510

         

861.00

870.00

9.00

<500 - 2600

         

872.50

884.50

12.00

<500 - 11000

         

889.00

891.50

2.50

<500 - 2100

AR-17-129c1

327

-70

1074.50

N/A

670.00

671.00

1.00

<500 - 29000

         

763.50

775.50

12.00

<500 - 40000

         

779.50

784.50

5.00

<500 - 46000

         

791.50

794.50

3.00

<500 - 57000

         

801.50

808.50

7.00

<500 - >61000

         

812.00

814.50

2.50

<500 - 16500

         

819.50

823.50

4.00

<500 - 3800

         

831.50

833.50

2.00

<500 - 800

         

846.00

846.50

0.50

<500 - 560

         

851.00

851.50

0.50

<500 - 760

         

894.50

896.00

1.50

<500 - >61000

         

899.00

905.50

6.50

<500 - >61000

         

913.50

923.50

10.00

<500 - >61000

         

982.00

982.50

0.50

<500 - 1300

         

988.50

998.50

10.00

<500 - 2400

AR-17-129c2

327

-70

1002.50

N/A

603.50

604.00

0.50

<500 - 510

         

641.50

642.00

0.50

<500 - 1260

         

653.00

657.00

4.00

<500 - 8110

         

665.00

667.00

2.00

<500 - 3070

         

671.50

672.00

0.50

<500 - 6870

         

691.00

692.50

1.50

<500 - 4900

         

698.50

700.50

2.00

<500 - 57000

         

720.00

721.50

1.50

<500 - 2500

         

757.50

758.50

1.00

1500 - 45000

         

780.00

781.00

1.00

<500 - 4700

         

783.50

788.00

4.50

<500 - 11000

         

793.50

798.00

4.50

<500 - 1660

         

806.00

806.50

0.50

<500 - 600

         

811.50

812.00

0.50

<500 - 3000

         

823.50

824.00

0.50

<500 - 920

         

831.00

832.00

1.00

<500 - 1610

         

850.50

866.50

16.00

<500 - 17000

         

873.00

876.50

3.50

<500 - 6600

         

893.00

894.50

1.50

<500 - 2400

         

977.00

977.50

0.50

<500 - 560

         

984.50

985.50

1.00

<500 - 2040

         

994.50

995.50

1.00

<500 - 2200

AR-17-133c1

147

-67

864.50

110.45

437.00

438.00

1.00

<500 - 750

         

492.50

504.50

12.00

<500 - 1500

         

513.00

527.00

14.00

<500 - 5000

         

532.50

533.50

1.00

<500 - 1000

         

536.00

537.00

1.00

<500 - 800

         

604.50

607.00

2.50

<500 - 2400

         

611.50

615.50

4.00

<500 - 12000

         

618.00

619.00

1.00

<500 - 1500

         

631.50

632.50

1.00

<500 - 3800

         

676.00

678.50

2.50

<500 - 5500

         

697.00

697.50

0.50

<500 - 1100

         

732.50

737.00

4.50

<500 - 6300

         

749.50

751.00

1.50

<500 - 2600

AR-17-133c2

147

-67

981.50

110.45

479.00

479.50

0.50

<500 - 1000

         

485.00

488.50

3.50

<500 - 2600

         

495.50

496.50

1.00

<500 - 2200

         

532.00

533.00

1.00

<500 - 1550

         

535.50

563.00

27.50

<500 - 5000

         

567.00

570.50

3.50

<500 - 1350

         

579.00

583.00

4.00

<500 - 5300

         

588.00

588.50

0.50

<500 - 2100

         

593.00

598.00

5.00

<500 - 1200

         

602.00

605.50

3.50

<500 - 1130

         

608.50

620.00

11.50

<500 - 4000

         

624.50

632.00

7.50

<500 - 4000

         

644.50

658.50

14.00

<500 - 3400

         

661.50

663.50

2.00

<500 - 1700

         

666.00

667.50

1.50

<500 - 1150

         

673.50

677.50

4.00

<500 - 6000

         

680.00

690.00

10.00

<500 - 21000

         

710.00

710.50

0.50

<500 - 630

         

716.00

718.00

2.00

<500 - 4690

         

721.00

723.00

2.00

<500 - 6400

         

727.00

729.00

2.00

<500 - 1080

         

759.50

763.00

3.50

<500 - 3320

         

771.50

772.50

1.00

<500 - 1250

         

796.50

799.50

3.00

<500 - 1000

         

896.50

897.00

0.50

<500 - 520

         

929.50

930.00

0.50

<500 - 600

AR-17-136c1

327

-70

567.00

128.40

432.50

433.50

1.00

<500 - 1800

         

442.50

444.00

1.50

<500 - 13000

         

450.50

451.00

0.50

<500 - 4600

         

475.50

476.50

1.00

<500 - 34000

         

485.50

498.50

13.00

<500 - 22000

AR-17-136c2

327

-70

849.00

128.40

399.50

403.00

3.50

<500 - 2200

         

405.50

408.00

2.50

<500 - 4500

         

414.00

416.00

2.00

<500 - 8100

         

429.50

432.00

2.50

<500 - 9500

         

437.50

441.00

3.50

<500 - 23000

         

446.50

458.50

12.00

<500 - >61000

         

539.50

551.00

11.50

<500 - >61000

         

554.00

554.50

0.50

<500 - 1050

         

614.50

615.00

0.50

<500 - 575

         

752.00

756.00

4.00

<500 - 21000

         

767.50

768.00

0.50

<500 - 610

         

803.50

804.00

0.50

<500 - 980

AR-17-138c1

147

-70

102.80

936.00

532.00

532.50

0.50

<500 - 1700

         

559.00

559.50

0.50

<500 - 1400

         

562.00

563.00

1.00

<500 - 1600

         

581.00

583.00

2.00

<500 - 1200

         

613.00

613.50

0.50

<500 - 530

         

631.00

635.00

4.00

<500 - 1300

         

639.50

663.50

24.00

<500 - 4000

         

676.00

712.50

36.50

<500 - 7400

         

715.00

720.00

5.00

<500 - 1540

         

725.50

726.00

0.50

<500 - 740

         

728.50

730.50

2.00

<500 - 1900

         

743.50

746.00

2.50

<500 - 5500

         

749.00

766.00

17.00

<500 - 4750

         

771.50

773.00

1.50

<500 - 1250

         

777.50

778.00

0.50

<500 - 820

         

878.50

881.00

2.50

<500 - 2930

         

885.50

888.50

3.00

<500 - 1750

         

893.50

894.00

0.50

<500 - 3300

         

897.00

904.00

7.00

<500 - 5100

 

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are meters downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be estimated.
  • "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

 

Arrow Deposit Drilling

AR-17-114c3

Hole AR-17-114c3 was a directional scissor hole that departed pilot hole AR-17-114c2 at a depth of 595 m. The hole was designed to test the A2 shear 60 m down-dip of AR-16-96c2 (4.17% U3O8 over 57.5 m in the A2 shear). Directional drilling was initiated at 606 m. The A2 shear was intersected at an inclination of -72.

Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic and relatively narrow intervals of pelitic gneiss and mylonite (the A2 shear). Anomalous to strongly anomalous radioactivity was intersected in the A2 shear in association with stringers, fracture, and foliation-controlled pitchblende mineralization. A total composite mineralization of 23.0 m including 1.25 m of off-scale radioactivity (>10,000 to >43,000 cps) was intersected within a 87.5 m section (639.0 m to 726.5 m), all in the A2 shear. The hole was terminated at 792.5 m.

AR-17-118c2

Hole AR-17-118c2 was a directional scissor hole that departed pilot hole AR-17-118c1 at a depth of 207 m. The hole was designed to test the A2 shear 45 m down-dip and northeast of AR-15-53c3 (1.38% U3O8 over 24.5 m, 3.37% U3O8 over 8.5 m, and 1.87% U3O8 over 9.5 m in the A2 shear) and the A3 shear 20 m down-dip and southwest of AR-15-57c2 (5.89% U3O8 over 29.5 m in the A3 shear). Directional drilling was initiated at 250 m. The A2 and A3 shears were both intersected at an inclination of -67.

Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A2 through A4 shears in association with stringers, disseminated, fracture-controlled, and semi-massive to massive pitchblende mineralization. A total composite mineralization of 101.5 m including 11.7 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 294.0 m section (458.5 to 752.5 m). In the A2 shear, 49.0 m of composite mineralization including 6.1 m of off-scale radioactivity was intersected. In the A3 shear, 46.5 m of composite mineralization including 5.25 m of off-scale radioactivity was intersected. An additional 6.0 m of composite mineralization including 0.35 m of off-scale radioactivity was intersected in the A4 shear. The hole was terminated at 828.5 m.

AR-17-119c2

Hole AR-17-119c2 was a directional hole that departed pilot hole AR-17-119c1 at a depth of 205 m. The hole was designed to test the A2 shear 95 m down-dip and southwest of AR-17-119c1 (1.15 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 222 m. The A2 and A3 shears were intersected at inclinations of -71 and -70 respectively.

Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, foliation-controlled, fracture-controlled, and semi-massive pitchblende mineralization. A total composite mineralization of 98.5 m including 3.7 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 630.5 m section (381.5 to 1012.0 m). In the A1 shear, 47.5 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. In the A2 shear, 39.0 m of composite mineralization including 1.65 m of off-scale radioactivity was intersected. In the A3 shear, 10.5 m of composite mineralization including 1.85 m of off-scale radioactivity was intersected. An additional 1.5 m of composite mineralization was intersected in the A4 shear. The hole was terminated at a depth of 1065.5 m.

AR-17-120c1

Hole AR-17-120c1 was a directional scissor hole collared from the surface at an angled orientation (-70) to the northwest (327 Azimuth). It was designed to test the A2 shear 95 m down-dip and southwest of AR-15-59c5 (0.29% U3O8 over 24.0 m in the A2 shear). Directional drilling was initiated at 282 m. The A2 shear was intersected at an inclination of -67.

The hole intersected bleached Athabasca Group sandstones between 106.0 m and the unconformity at 114.80 m. Basement lithologies dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A3 shear in association with disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 6.5 m including 0.6 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 130.5 m section (534.5 to 665.0 m), all in the A3 shear. The hole was terminated at a depth of 846.5 m.

AR-17-120c2

Hole AR-17-120c2 was a directional scissor hole that departed pilot hole AR-17-120c1 at a depth of 286 m. It was designed to test the A2 shear 65 m down-dip of AR-17-120c1. Directional drilling was initiated at 295 m. The A3 shear was intersected at an inclination of -71.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A3 shears). The hole successfully intersected anomalous radioactivity in the A3 and A4 shears in association with disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 5.0 m was intersected within a 184.5 m section (534.5 to 719.0 m). In the A3 shear, 4.0 m of composite mineralization was intersected. In the A4 shear, 1.0 m of composite mineralization was intersected. The hole was terminated at a depth of 864.5 m.

AR-17-121c1

Hole AR-17-121c1 was a directional scissor hole collared from the surface at an angled orientation (-70) to the northwest (327 Azimuth). The hole was designed to test the A2 shear 25 m up-dip and northeast of AR-16-118c2 (6.1 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 45 m up-dip of AR-15-57c2 (5.89% U3O8 over 29.5 m in the A3 shear). Directional drilling was initiated at 249 m. The A2 and A3 shears were both intersected at an inclination of -71.

The hole intersected bleached Athabasca Group sandstones between 122.8 m and the unconformity at 134.1 m. Basement lithologies largely consisted of semi-pelitic gneisses with narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected strongly anomalous radioactivity in the A2 through A3 shears in association with stringers, disseminated, foliation-controlled and fracture-controlled mineralization. A total composite mineralization of 143.0 m including 12.0 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 331.0 m section (455.0 to 786.0 m). In the A2 shear, 58.0 m of composite mineralization was intersected including 5.9 m of off-scale radioactivity. In the A3 shear, 81.0 m of composite mineralization was intersected including 6.0 m of off-scale radioactivity. In the A4 shear, 4.0 m of composite mineralization was intersected including 0.1 m of off-scale radioactivity. The hole was terminated at a depth of 816.5 m.

AR-17-121c2

Hole AR-17-121c2 was a directional hole that departed pilot hole AR-17-121c1 at a depth of 262 m. It was designed to test the A3 high-grade domains as a scissor hole immediately adjacent to AR-14-08 (2.51% U3O8 over 10.0 m and 2.94% U3O8 over 6.2 m in the A3 shear). Directional drilling was initiated at 387 m. The A3 shear was intersected at an inclination of -68.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 and A3 shears in association with disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 104.0 m including 11.6 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 286.0 m section (473.5 to 759.5 m). In the A2 shear, 33.5 m of composite mineralization was intersected including 1.9 m of off-scale radioactivity. In the A3 shear, 65.5 m of composite mineralization including 9.7 m of off-scale radioactivity was intersected. An additional 5.0 m of composite mineralization was intersected in the A1 shear. The hole was terminated at a depth of 813.5 m.

AR-17-126c1

Hole AR-17-126c1 was a scissor hole collared from surface at an angled orientation (-70) to the northwest (327 Azimuth). It was designed to test the A3 shear 32 m up-dip and northeast of AR-17-116c1 (6.5 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 195 m. The A2 and A3 shears were both intersected at inclinations of -67.

The hole intersected strongly bleached Athabasca Group sandstones between 119.5 m and the unconformity at 131.7 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 and A3 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 63.0 m including 1.25 m of off-scale radioactivity (>10,000 to 56,500 cps) was intersected within a 409.0 m section (397.5 to 806.5 m). In the A2 shear, 17.5 m of composite mineralization was intersected. In the A3 shear, 37.0 m of composite mineralization was intersected including 1.25 m of off-scale radioactivity. An additional 8.5 m of composite mineralization was intersected in the A1 shear. The hole was terminated at 831 m.

AR-17-126c2

Hole AR-17-126c2 was a directional scissor hole that departed pilot hole AR-17-126c1 at a depth of 207 m. It was designed to test the A3 shear 43 m up-dip and northeast of AR-17-121c2 (9.7 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 306 m. The A3 shear was intersected at an inclination of -70.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of pelitic gneiss and mylonite (the A3 shear). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A3 shear in association with stringers, disseminated, and fracture-controlled pitchblende mineralization. A total composite mineralization of 37.5 m including 3.65 m of off-scale radioactivity was intersected within a 100.0 m section (426.5 to 526.5 m), all in the A3 shear. The hole was terminated at a depth of 543 m.

AR-17-127c1

Hole AR-17-127c1 was collared from surface at an angled orientation (-67) to the southeast (147 Azimuth). It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 40 m down-dip and northeast of AR-17-119c2 (1.65 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 201 m. The A2 and A3 shears were both intersected at inclinations of -67.

The hole intersected bleached Athabasca Group sandstones between 93.0 m and the unconformity at 117.9 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 56.5 m including 0.7 m of off-scale radioactivity (>10,000 to 28,000 cps) was intersected within a 379.0 m section (478.0 to 857.0 m). In the A1 shear, 14.5 m of composite mineralization was intersected including 0.6 m of off-scale radioactivity. In the A2 shear, 21.5 m of composite mineralization was intersected including 0.1 m of off-scale radioactivity. In the A3 shear, 20.5 m of composite mineralization was intersected. The hole was terminated at 882.5 m.

AR-17-127c2

Hole AR-17-127c2 was a directional hole that departed pilot hole AR-17-127c1 at a depth of 205 m. It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 85 m down-dip and northeast of AR-17-119c2 (1.65 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 205 m. The A2 and A3 shears were both intersected at inclinations of -70.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 46.5 m including 1.75 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 384.5 m section (507.0 to 891.5 m). In the A1 shear, 2.5 m of composite mineralization was intersected. In the A2 shear, 18.5 m of composite mineralization was intersected including 1.6 m of off-scale radioactivity. In the A3 shear, 25.5 m of composite mineralization including 0.15 m of off-scale radioactivity was intersected. The hole was terminated at a depth of 954.5 m.

AR-17-129c1

Hole AR-17-129c1 was a scissor hole collared from surface at an angled orientation (-70) to the northwest (327 Azimuth). It was designed to test the A4 shear 90 m up-dip and northeast of AR-15-41 (4.30% U3O8 over 20.5 m in the A4 shear). The A4 shear was intersected at an inclination of -66.

No Athabasca Group sandstones were encountered and basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 through A5 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 66.0 m including 4.4 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 328.5 m section (670.0 to 998.5 m). In the A2 shear, 10.5 m of composite mineralization was intersected. In the A3 shear, 21.0 m of composite mineralization was intersected including 1.6 m of off-scale radioactivity. In the A4 shear, 33.5 m of composite mineralization was intersected including 2.7 m of off-scale radioactivity. An additional 1.0 m of composite mineralization including 0.1 m of off-scale radioactivity was intersected in the A5 shear. The hole was terminated at 1074.5 m.

AR-17-129c2

Hole AR-17-129c2 was a directional hole that departed pilot hole AR-17-129c1 at 495 m. It was designed to test the A4 shear 120 m up-dip of AR-15-41 (4.30% U3O8 over 20.5 m in the A4 shear) with an additional A3 intersection 90 m up-dip of AR-15-39 (2.27% U3O8 over 29.5 m in the A3 shear). Directional drilling was initiated at 510 m. The A3 and A4 shears were both intersected at an inclination of -58.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 through A5 shears in association with stringers, disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 49.5 m including 1.25 m of off-scale radioactivity (>10,000 to 57,000 cps) was intersected within a 392.0 m section (603.5 to 995.5 m). In the A2 shear, 6.5 m of composite mineralization was intersected. In the A3 shear, 28.5 m of composite mineralization was intersected including 0.15 m of off-scale radioactivity. In the A4 shear, 8.5 m of composite mineralization was intersected including 1.1 m of off-scale radioactivity. In the A1 and A5 shears, an additional 1.0 m and 5.0 m of composite mineralization was intersected respectively. The hole was terminated at a depth of 1002.5 m.

AR-17-133c1

Hole AR-17-133c1 was collared from surface at an angled orientation (-67) to the southeast (147 Azimuth). It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 77 m northeast of AR-17-119c2 (1.65 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 270 m. The A2 and A3 shears were both intersected at inclinations of -65.

The hole intersected bleached Athabasca Group sandstones between 99.0 m and the unconformity at 110.45 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 46.5 m including 0.1 m of off-scale radioactivity (>10,000 to 12,000 cps) was intersected within a 314.0 m section (437.0 to 751.0 m). In the A1 shear, 29.0 m of composite mineralization was intersected. In the A2 shear, 8.5 m of composite mineralization was intersected including 0.1 m of off-scale radioactivity. In the A3 shear, 9.0 m of composite mineralization was intersected. The hole was terminated at 864.5 m.

AR-17-133c2

Hole AR-17-133c2 was a directional hole that departed pilot hole AR-17-133c1 at 252 m. It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 60 m up-dip and northeast of AR-17-127c2 (1.6 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 270 m. The A1 through A3 shears were intersected at inclinations of -70, -69, and -69 respectively.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A4 shears in association with disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 115.5 m including 0.25 m of off-scale radioactivity (>10,000 to 21,000 cps) was intersected within a 451.0 m section (479.0 to 930.0 m). In the A1 shear, 46.5 m of composite mineralization was intersected. In the A2 shear, 64.0 m of composite mineralization was intersected including 0.25 m of off-scale radioactivity. In the A3 shear, 4.5 m of composite mineralization was intersected. An additional 0.5 m of composite mineralization was intersected in the A4 shear. The hole was terminated at a depth of 981.5 m.

AR-17-136c1

Hole AR-16-136c1 was a scissor hole collared from surface at an angled orientation (-70) to the northwest (327 Azimuth). It was designed to test the A3 shear 30 m northeast of AR-17-116c1 (6.5 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 201 m. The A3 shear was intersected at an inclination of -69.

The hole intersected bleached Athabasca Group sandstones between 112.1 m and the unconformity at 128.4 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A3 shear). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A3 shear in association with stringers, disseminated, and fracture-controlled pitchblende mineralization. A total composite mineralization of 17.0 m including 0.9 m of off-scale radioactivity (>10,000 to 34,000 cps) was intersected within a 66.0 m section (432.5 to 498.5 m), all within the A3 shear. The hole was terminated at 567 m.

AR-17-136c2

Hole AR-17-136c2 was a directional hole that departed pilot hole AR-17-136c1 at 204 m. It was designed to test the A3 shear 50 m northeast and up-dip of AR-17-116c1 (6.5 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 216 m. The A1 through A3 shears were all intersected at inclinations of -66.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, fracture-controlled, foliation-controlled, and massive pitchblende mineralization. A total composite mineralization of 43.5 m including 7.35 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 404.5 m section (399.5 to 804.0 m). In the A1 shear, 4.5 m of composite mineralization was intersected including 0.15 m of off-scale radioactivity. In the A2 shear, 12.5 m of composite mineralization was intersected including 0.5 m of off-scale radioactivity. In the A3 shear, 26.0 m of composite mineralization was intersected including 6.7 m of off-scale radioactivity anchored by dense accumulations of massive pitchblende. An additional 0.5 m of composite mineralization was intersected northwest of the A1 shear. The hole was terminated at a depth of 849 m.

AR-17-138c1

Hole AR-16-138c1 was collared from surface at an angled orientation (-70) to the southeast (147 Azimuth). It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 120 m northeast of AR-17-127c2 (1.6 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 201 m. The A2 shear was intersected at an inclination of -70.

The hole intersected strongly bleached Athabasca Group sandstones between 75.5 m and the unconformity at 102.8 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 111.0 m was intersected within a 372.0 m section (532.0 to 904.0 m). In the A1 shear, 8.5 m of composite mineralization was intersected. In the A2 shear, 89.5m of composite mineralization was intersected. In the A3 shear, 13.0 m of composite mineralization was intersected. The hole was terminated at 936 m.

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. All intersections are downhole.

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. Garrett Ainsworth, P.Geo., Vice President - Exploration & Development for NexGen. Mr. Ainsworth 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 set forth below please refer to the technical report entitled "Technical Report on the Rook 1 Property, Saskatchewan, Canada" dated effective March 31, 2017 (the "Rook 1 Technical Report") prepared by Mark B. Mathisen and David Ross, 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.

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 highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Discovery in February 2014 and Bow Discovery in March 2015 and the Harpoon discovery in August 2016. The Arrow Deposit's March 2017 Mineral Resource estimate (effective December 20, 2016) comprises an Indicated Mineral Resource of 179.5 M lbs U3O8 contained in 1.18 M tonnes grading 6.88% U3O8 and an Inferred Mineral Resource of an additional 122.1 M lbs U3O8 contained in 4.25 M tonnes grading 1.30% U3O8.

This news release contains "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, including, without limitation, planned exploration activities. 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 connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and 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 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 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 or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves, assay results may not be consistent with preliminary results, alternative sources of energy, aboriginal title and consultation issues, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, 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.

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.

 

SOURCE NexGen Energy Ltd.