NexGen Energy, in Partnership with Clearwater River Dene Nation, Launches Member-Owned Business Slated to Create More than $36M in Revenue in its First Three Years

Press Release

VANCOUVER, BC, April 18, 2023 – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) in partnership with the Clearwater River Dene Nation (“CRDN”) is pleased to announce the establishment of a 100% Indigenous owned and operated gravel supply company in Northwest Saskatchewan. Continuing to deliver on its industry-leading Impact Benefit Agreement with the CRDN signed in March 2022, NexGen purchased a $4.1M gravel crusher to provide aggregate material for its Rook I project (“Rook I” or the “Project”) and to supply the northern communities’ aggregate material for road infrastructure requirements. The CRDN member-owned business will lease to own and operate the gravel crusher. The aggregate supply for Rook I has a capital expenditure representing an estimated $36M in value (Rook I Feasibility Study) to the new CRDN-owned business in just the first three years of construction of the Project. This new company will immediately create sixteen (16) additional jobs for local community members.

Teddy Clark, Chief CRDN, commented: “The establishment of the gravel supply company is a testament to NexGen’s commitment to creating sustainable economic opportunities for Indigenous communities in the local project area. This new business will give CRDN and Metis Local 39 members, as well as surrounding communities, meaningful employment, which will stimulate the economy for all the communities in the local project area.”

Leigh Curyer, Chief Executive Officer, commented: “NexGen is proud to be expanding its support for our local community partners to maximise positive sustainable growth. This business opportunity delivers three key initiatives, aggregate for roads and the foundations for Rook I permitted site works scheduled to commence in summer 2023, much needed road aggregate repair for the communities in the wider local project area, and scalability and longevity to provide positive outcomes for many people including training and employment. Further, it demonstrates NexGen’s industry leading approach to community advancement and engagement with local community partners, and confirms the Company’s long-standing track record of maximizing opportunities for its stakeholders.”

The establishment of a gravel supply company in the Northwest addresses the limited options and availability of crushing services in Northwest Saskatchewan. In addition to NexGen’s Rook I Project, which is currently advancing through the Provincial and Federal regulatory and licensing review process, this initiative will produce the aggregate needed for other mining operations, Saskatchewan Highways, and construction operations across Northwest Saskatchewan.

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 standards in environmental and social governance. The Rook I Project is supported by a NI 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.

All technical information in this news release has been reviewed and approved by  Kevin Small, NexGen’s Senior Vice President, Engineering and Operations, a qualified person under National Instrument 43-101.

A technical report in respect of the FS is filed on SEDAR ( www.sedar.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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