NexGen Commences Expanded 43,000 Meter Drill Program at Patterson Corridor East

Press Release

VANCOUVER, BC, Jan. 30, 2025 NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) is excited to announce the commencement of a 43,000 meter (m) exploration drill program to continue to test the extents and growth of mineralization discovered in early 2024 at Patterson Corridor East (PCE) located 3.5 km east of the world-class Arrow Deposit. This systematic program represents an increase of 9,000 m from the 2024 program and is expected to be one of the largest drill programs in the Athabasca Basin, Saskatchewan in 2025. The initial results at PCE revealed vein-type uranium mineralization intersected within the competent basement rock, highly analogous to Arrow. Since discovery, the mineralized footprint at PCE has rapidly grown to 600 m along strike and 600 m of vertical extent (see November 12, 2024 news release).

Drilling in 2025 will focus on testing extents of the mineralized footprint, further investigating high-grade zones within the broad mineralized footprint, and determining potential for additional mineralization within the same target area (Figure 1). Since discovery and over the 2024 campaign 19 of the 30 initial holes intersected mineralization with 10 intersecting intermittent widths of high grade of >10,000 cps mineralization. In addition, strategic use of geophysics will cover prospective areas on SW3 to refine a growing inventory of drill ready targets across NexGen’s dominant southwest Athabasca Basin land position. Assays for 2024 drilling will be reported once fully received in Q1 2025.

Leigh Curyer, Chief Executive Officer, commented: “In early 2024, we launched a bold grass roots exploration program aimed at discovering new uranium resources to address the material and growing uranium demand / supply gap. NexGen’s disciplined and systematic approach to evaluating high-priority targets resulted in the discovery and material growth of mineralization at PCE. This highly prospective area continues to be the central focus of our exploration efforts given the clear potential demonstrated to date at PCE. This is a strategic focus to contribute sustainable supply to the growing demand for uranium to fuel the global energy needs.”

Jason Craven, Vice President, Exploration, commented: “The scale of this year’s drill program speaks to our excitement for PCE and a commitment to efficiently and thoroughly assess it. Continuity of mineralization, as well as intensity of high-grade mineralization and alteration, indicate a system with strong potential for continued growth. These are compelling early days at PCE where we will remain solely focused on unlocking its full potential.”

With over $800M in cash and liquid assets, NexGen is optimally funded for the ongoing development of the Rook I Project as well as the PCE exploration program and for general corporate purposes.

Figure 1: PCE area with drilling to date and relative location to Arrow. The primary target area (shown in green) outlines where testing for high-grade expansion and footprint extents will focus. (NexGen Energy Ltd.)

About NexGen

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 an N.I. 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, 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, British Columbia, with its primary operations office in Saskatoon, Saskatchewan.

www.nexgenenergy.ca

Technical Disclosure*

All technical information in this news release has been reviewed and approved by Jason Craven, NexGen’s Vice President, Exploration, a qualified person under National Instrument 43-101.

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-125 gamma spectrometer. 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.

A technical report in respect of the FS is filed on SEDAR+ (www.sedarplus.com) and EDGAR (www.sec.gov/edgar.shtml ) and is available for review on NexGen Energy’s website (www.nexgenenergy.ca ).

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission (“SEC”) set by the SEC’s rules that are applicable to domestic United States reporting companies.   Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

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