Mr. Leigh Curyer reports

NEXGEN RECEIVES PROVINCIAL ENVIRONMENTAL ASSESSMENT APPROVAL FOR THE ROOK I PROJECT

NexGen Energy Ltd. has received approval under the Environmental Assessment Act of Saskatchewan to proceed with the development of its 100-per-cent-owned Rook I project.

NexGen is the first company in more than 20 years to receive full provincial environmental assessment approval for a uranium project in Saskatchewan.

Leigh Curyer, chief executive officer, commented: "The achievement of this major milestone of provincial environmental assessment approval for Rook I is key in meeting the surging global demand for ethically sourced uranium. I am incredibly proud of the NexGen team's dedication and commitment working together with our valued local indigenous communities in this highly transparent and diligent regulatory process. Throughout the rigorous EA process, the government of Saskatchewan recognized the unparalleled value and future opportunities the Rook I project will provide for local communities, Saskatchewan and Canada. Today is a milestone for NexGen, the communities where we operate, the Province of Saskatchewan, and accelerates Canada in returning to being the world's leader in the production of clean energy fuel for the global environment.

"With provincial EA approval now in place, NexGen has submitted all responses to the federal technical review of the Rook I project environmental impact statement and eagerly look forward to the completion of the federal EA approval process."

Further, NexGen has lodged, in advance, the initial applications for approvals of site earthworks, shaft sinking infrastructure, site water and mine waste management facilities, and associated ancillary infrastructure and services and is continuously engaged with the Saskatchewan Ministry of Environment regarding these phases of development.

"This represents a major milestone in advancing another uranium mine in our province," Premier of Saskatchewan Scott Moe said. "Saskatchewan and our northern communities are well positioned to benefit from the increased demand for critical minerals. NexGen's Rook I project will help build our local communities and create jobs for many northerners while providing an ethically and sustainably produced supply of uranium to world markets."

"I would like to congratulate NexGen on this significant milestone with their Rook I project," commented Christine Tell, Saskatchewan Minister of Environment. "We look forward to working with them as this project advances and are excited that NexGen has chosen Saskatchewan as a place to do business."

Indigenous and community partnership approach

The project is located within the Clearwater Dene Nation (CRDN), Birch Narrows Dene Nation (BNDN) and Buffalo River Dene Nation (BRDN) traditional territories, and the Metis Homeland. All four local priority area communities have formally confirmed their consent and strong support for NexGen's stewardship of the Rook I project covering the full life cycle of the mine, including postclosure.

CRDN Chief Teddy Clark commented: "Since as early as 2013, the Rook I project has been a platform for both NexGen and the CRDN, together with regulatory authorities, to set a new and elite standard on indigenous engagement, participation and partnerships for projects in the traditional territory of indigenous peoples. We, the community of Clearwater River Dene Nation, have taken a generational outlook in creating a threshold of engagement interpretation and practices with NexGen representing a socio-economically diverse approach for our members.

"With this major milestone of the provincial approval for the Rook I EA, CRDN is excited for construction to commence that will ultimately lead to production at Rook I, where we stand collectively to maximize accommodation measures and business opportunities for our people. Achieving this success with a recognized industry partner in NexGen demonstrates responsible development of a major clean energy project, and we are encouraging other companies to take a similar indigenous and industry partnership approach. Today brings another day of recognition for NexGen in raising the bar to an elite level, and we remain in solidarity working with NexGen and supporting their integrated commitments in making the Rook I project a success."

Leonard Montgrand, Metis Nation -- Saskatchewan (MN-S) Northern Region 2 (NR2) director, commented: "Since as early as 2013, NexGen has engaged and worked closely with the MN-S NR2 locals and citizens. We are proud to be working with NexGen and the regulatory authorities to set a new and elite standard for indigenous engagement, participation and partnerships for major projects in the traditional territory of our peoples. The approval from the Province of Saskatchewan is a major milestone for the MN-S NR2 and NexGen, and will have positive impacts on the long-term economic sustainability of our nation. We look forward to the next steps of the project where our partnership with NexGen will deliver generational opportunities for our nation and the citizens. We support the provincial approvals and await with great anticipation for the approval of the federal EA."

Glen McCallum, MN-S president, commented: "Metis Nation-Saskatchewan is proud of the relationships we are building with governments, industry and organizations. MN-S welcomed the opportunity to partner with NexGen, Northern Region 2 and the regulatory authorities to develop the Rook I project responsibly, while recognizing and respecting Metis rights and interests. The approval from the Province of Saskatchewan is a major milestone in this partnership, and we look forward to continuing to work together to ensure the success of the project and provide much-needed resources and economic opportunities to Northern Region 2 families and citizens."

BNDN Chief Jonathan Sylvestre commented: "With this positive provincial approval for the Rook I project, we are proud to say we have worked in collaboration with NexGen and the province through this rigorous regulatory process. Now that the project has provincial environmental assessment requirements approved, as soon as construction begins our community stands to substantially benefit through employment, business opportunities, environmental monitoring and funding to support community priorities. NexGen has been working with us in a respectful way since day one and our leadership and community look forward to advancing this generational project together."

BRDN Chief Norma Catarat commented: "Buffalo River Dene Nation and NexGen have built a meaningful relationship over the past six years based on trust, respect and confidence. The approval from the Province of Saskatchewan is a major milestone for our partnership with NexGen and will have positive impacts on the long-term economic sustainability of our community. We look forward to the advancement of the project throughout all phases of its life cycle."

This major milestone enables NexGen to optimally advance the Rook I project toward production where the project will be in a unique position to be one of the most substantial suppliers of uranium globally, and 100 per cent ethically sourced through rigorous commitments, controls and processes to ensure the elite environmental performance, maximum community inclusion, and supply chains and customers that are allied for net-zero goals.

About NexGen Energy Ltd.

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The company's flagship Rook I project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite environmental and social governance standards. The Rook I project is supported by a National Instrument 43-101 compliant feasibility study, which outlines the elite environmental performance and industry-leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure. NexGen is leveraging its proven experience to deliver a project that leads the entire mining industry socially, technically and environmentally. The project and prospective portfolio in Northern Saskatchewan will provide generational, long-term economic, environmental and social benefits for Saskatchewan, Canada and the world.

NexGen is listed on the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol NXE and on the Australian Securities Exchange under the ticker symbol NXG, providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security and access to power. The company is headquartered in Vancouver, B.C., with its primary operations office in Saskatoon, Sask.

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