NexGen’s 50.1% owned subsidiary, IsoEnergy ( holds a highly prospective portfolio of uranium exploration projects in the historic eastern Athabasca Basin. In 2018, IsoEnergy discovered the Hurricane deposit, a zone of very high-grade uranium mineralization on the Larocque East project.

IsoEnergy acquired Larocque East in May 2018 and discovered Hurricane in July of the same year. The discovery was followed up with six aggressive drill campaigns in 2019 through 2022. The best intersection to date is 7.5 metres averaging 38.8% U3O8, including 3.5 metres averaging 74.0% U3O8 (see IsoEnergy press release “IsoEnergy Intersects 74.0% U3O8 Over 3.5m Within 38.8% U3O8 Over 7.5m in Drill Hole LE20-76” dated December 1, 2020). Dimensions of the Hurricane zone are currently 375 metres along-strike, up to 125 metres wide, and up to 12 metres thick. The 100% owned Larocque East property consists of 33 mineral claims totaling 16,782 ha. Larocque East is immediately adjacent to the north end of IsoEnergy’s Geiger property and is 35 kilometres northwest of Orano Canada’s McClean Lake uranium mine and mill.

IsoEnergy holds 24 strategically located and prospective assets covering 248,000 hectares in the eastern Athabasca Basin region with Larocque East, Geiger, Thorburn Lake and Radio being the highest priority properties. All projects are 100% owned by IsoEnergy.

The Geiger property hosts high grade basement hosted uranium mineralization of up to 2.74% U3O8 over 1.2 metres and is located within 20 kilometres of the McClean Lake uranium mill.

The Thorburn Lake project is located 7 kilometers east of Cameco's Cigar Lake mine. Uranium has been intersected on the property, including 0.6 metres of 0.43% U3O8 in drill hole TBN-11-05a in basement rocks immediately below the sub-Athabasca unconformity. Numerous geophysical targets remain to be drilled at Thorburn Lake.

The Radio project is located 2 kilometres east (and along strike) of Rio Tinto’s Roughrider uranium deposit. Exploration drilling by IsoEnergy in 2016 and 2017 located a large zone of strong clay alteration with locally elevated uranium geochemistry in basement rocks along the southern boundary of the property. Additional targets warrant drill testing.