Mr. Leigh Curyer reports

NEXGEN ANNOUNCES SUBMISSION OF THE ROOK I PROJECT ENVIRONMENTAL IMPACT STATEMENT

NexGen Energy Ltd. has submitted a draft environmental impact statement (EIS) to the Saskatchewan Ministry of Environment (ENV) and the Canadian Nuclear Safety Commission (CNSC), a major milestone in the advancement of regulatory approvals for the 100-per-cent-owned Rook 1 project. The EIS submission included letters of support for the project from each of the Clearwater River Dene Nation (CRDN), Birch Narrows Dene Nation (BNDN) and Buffalo River Dene Nation (BRDN), which all have also endorsed the project through the execution of benefit agreements with NexGen covering the entire lifespan of the project.

The submission of the draft EIS follows the provincial and federal environmental assessment (EA) processes that commenced in April, 2019, following regulatory acceptance of NexGen's project description. The project, located in the uranium-rich district of Saskatchewan's southwestern Athabasca basin, includes underground and surface facilities to support the mining and processing of uranium ore from the Arrow deposit.

Leigh Curyer, chief executive officer, commented: "The submission of the draft EIS is an exciting and significant milestone for NexGen, and we are proud to be working alongside our local Indigenous partners and all our stakeholders as we deliver on this generational opportunity for Saskatchewan and Canada. The draft EIS incorporates best practise in every aspect of the project's elite environmental performance, and is a culmination of many years of detailed data collection, analysis and design. Upon review and approval of the environmental assessment, the Rook 1 project will deliver enormous economic, social and community benefits, while being a major supplier of carbon-free base load energy fuel, highlighting Canada's leading environmental commitment to the world.

"On behalf of everyone at NexGen, I would like to congratulate and thank all our valued partners with whom we have been working side by side. The communities where we operate, the government of Saskatchewan and Canada and their regulatory bodies, our valued employees, consultants and investors in accomplishing this unique milestone. The NexGen team is dedicated to the optimal delivery of the Rook 1 project and ready for the next exciting phase of development."

Luke Moger, vice-president of environment, permitting and licensing, commented: "Conducting the biophysical and socio-economic assessments in support of developing the draft EIS highlights the elite environmental and social outcomes of the Rook 1 project resulting from NexGen's long-term and disciplined planning approach. Key environmental design features such as the permanent underground storage of all tailings as engineered cemented backfill and the consolidation and optimization of the project footprint reflect the commitment of the team and the integrated approach taken, including the incorporation of valuable feedback from local Indigenous Groups and communities.

"We are excited to share our draft EIS with the experienced provincial and federal regulatory teams and welcome the transition to the next stage of the EA process, including the technical and public review that will be led by the Canadian Nuclear Safety Commission and Saskatchewan Ministry of Environment."

Draft EIS

NexGen conducted the EA pursuant to The Environmental Assessment Act of Saskatchewan and the Canadian Environmental Assessment Act, 2012. The information and analysis conducted and submitted in the EIS represent the basis against which the environmental, social, and human health effects of the project will be evaluated by the ENV and CNSC.

Since 2011, NexGen established an experienced team of subject matter experts and qualified professionals across all aspects of the project to conduct technical studies; engage with Indigenous groups, communities, regulators and public stakeholders; and prepare the EIS. The EIS represents the collection of reports that document NexGen's EA of the proposed project and demonstrates the robust engagement undertaken over many years, the favourable geological setting of the Arrow deposit, NexGen's focused incorporation of environmental stewardship into the project designs, and the generational positive long-term economic benefits the project will provide to local communities, Saskatchewan and Canada.

The draft EIS fulfills a key aspect of meeting provincial and federal requirements so that regulatory authorities can make an informed decision regarding project approval. Data and analyses on the potential positive and adverse effects from the project are included, as well as the mitigation measures and monitoring and management programs to be implemented by NexGen. Other important aspects of the EIS include the demonstration of meaningful engagement with affected Indigenous groups, local communities and the public, and the incorporation of Indigenous and local knowledge into the EA.

Engagement

In 2019, NexGen entered into study agreements with each of the Clearwater River Dene Nation, Birch Narrows Dene Nation, Buffalo River Dene Nation and Metis Nation -- Saskatchewan (on behalf of Northern Region 2). NexGen has been working with local Indigenous groups and communities since 2013, with the study agreements formalizing engagement approaches specifically designed to support participation in the EA process and providing capacity financing for engagement and retention of technical support. The study agreements also fully financed the completion of self-directed Indigenous knowledge and traditional land use studies by each Indigenous group that were valuable sources of information used by NexGen in conducting the EA.

In addition, NexGen has signed benefit agreements with the CRDN, BNDN and BRDN to ensure provisions for continuing engagement, financial and human resources to support Indigenous cultural and traditional values as well as environmental stewardship, employment, training and economic development throughout the entire lifespan of the project.

EIS submission and next steps

With submission of the draft EIS, the ENV and CNSC have commenced their respective provincial and federal reviews. Under the provincial EA review process, the ENV has commenced its technical review of the EIS. Under the federal EA review process, the CNSC is currently undergoing a conformance review of the EIS in advance of conducting parallel technical and public review.

Through a co-operative provincial-federal EA process, the ENV and CNSC will share information and work to reduce regulatory duplication, while providing a comprehensive EA process in accordance with the separate requirements that apply and must be satisfied with respect to the acts, regulations and guidelines in place for each of the respective jurisdictions.

NexGen -- delivering a generational project

To support the submission of the draft EIS, NexGen has launched "Delivering a generational project" -- a 10-minute video on NexGen's team and innovative approach, and the unique characteristics of the Rook 1 project.

Technical disclosure

All technical information in this news release has been reviewed and approved by Anthony (Tony) George, PEng., NexGen's chief project officer, a qualified person under National Instrument 43-101.

A technical report in respect of the FS is filed on SEDAR and EDGAR, and is available for review on NexGen Energy's website.

About NexGen Energy Ltd.

NexGen is a British Columbia corporation focused on the development of the Rook 1 project located in the southwestern Athabasca basin, Saskatchewan, Canada, into production. The Rook 1 project is supported by a National Instrument 43-101 compliant feasibility study which outlines elite environmental performance as well as industry-leading economics. Rook 1 hosts the Arrow deposit that hosts measured mineral resources of 209.6 million pounds of U3O8, contained in 2.18 million tonnes grading 4.35 per cent U3O8, indicated mineral resources of 47.1 million pounds of U3O8, contained in 1.57 million tonnes grading 1.36 per cent U3O8, and inferred mineral resources of 80.7 million pounds of U3O8, contained in 4.40 million tonnes grading 0.83 per cent U3O8.

NexGen has a highly experienced team of uranium industry professionals with a successful record in the discovery of uranium deposits and in developing projects through discovery to production. The company is the recipient of the 2018 PDAC Bill Dennis award for Canadian mineral discovery and the 2019 PDAC Environmental and Social Responsibility award.

We seek Safe Harbor.