NexGen Significantly Expands New High Grade Zone in A1 Shear and Drills Extensive Off-Scale Across A2 Shear

VANCOUVER, July 13, 2016 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSXV:NXE, OTCQX:NXGEF) is pleased to announce further results from our recently completed spring drilling program on our 100% owned Rook I Property, Athabasca Basin, Saskatchewan.  Eight drill holes have intersected extensive mineralization, and off-scale radioactivity (>10,000 to >61,000 cps) has been intersected in each of the A1, A2, A3 and A4 shears.

The new high grade zone within the A1 shear was initially discovered with drill hole AR-16-84c1 (8.35 m of off-scale radioactivity with assays pending – see News Release dated April 14, 2016), and has been significantly expanded towards the northeast with drill holes AR-16-91c3 and -91c4.  Holes -91c3 and -91c4 were drilled 30 m up-dip and northeast and 25 m down-dip and northeast, respectively from hole -84c1. The A1 shear currently has a mineralized strike length of 360 m and remains largely untested.

Substantial high grade mineralization also continues to be encountered in the A2 shear. Drill holes AR-16-84c4, -91c1, -91c3, -91c4 and -92c1 each intersected massive to semi-massive pitchblende mineralization and significant off-scale radioactivity with intervals at greater-than-61,000 cps.

Assay results remain pending for 30 holes, including intensely mineralized holes from the A2 Sub-Zone and the newly discovered area 180 m southwest of Arrow. Furthermore, six drill rigs are now fully operational at Rook I, with a seventh rig expected to start in mid-July.

Highlights:

A1 Shear:

  • AR-16-91c3 (30 m up-dip and northeast from AR-16-84c1) intersected 49.5 m of total composite mineralization including 5.0 m of total composite off-scale radioactivity (>10,000 – 54,000 cps) within a 150.0 m section (575.0 to 725.0 m).

  • AR-16-91c4 (25 m down-dip and northeast from AR-16-84c1) intersected 87.0 m of total composite mineralization including 4.1 m of total composite off-scale radioactivity (>10,000 – 29,000 cps) within a 133.0 m section (591.0 to 724.0 m).

A2 Shear:

  • AR-16-91c4 (70 m up-dip and northeast from AR-15-44b) intersected 78.5 m of total composite mineralization including 9.65 m of total composite off-scale radioactivity (>10,000 – >61,000 cps) within a 150.0 m section (425.5 to 575.5 m).

  • AR-16-92c1 (23 m down-dip and southwest from AR-15-44b) intersected 86.95 m of total composite mineralization including 9.5 m of total composite off-scale radioactivity (>10,000 – >61,000 cps) within a 111.5 m section (535.5 to 647.0 m).

Arrow, Activities & Financial

  • The land-based and basement hosted Arrow Deposit currently covers an area of 870 m by 280 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in most directions and at depth.

  • The summer 2016 program comprising 35,000 m of drilling is underway with six drill rigs active. A seventh drill rig will be put into service in mid-July.

  • The Company has cash on hand of approximately $100 million.

A drill hole location map, the A1 long section and a close-up of the A2 long section are shown in Figures 1 to 3.  

Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Drill holes AR-16-91c3 and -91c4 in the A1 shear show excellent extensions of high grade mineralization to the northeast of hole -84c1, where there is over 300 m of existing strike length open to test.  Additionally, mineralization has been encountered northwest of the A1 and southeast of the A4, which indicates excellent potential to discover additional mineralized shears laterally at the Arrow deposit. Drilling of the A2 high grade domain continues to return outstanding high grade intervals containing massive to semi-massive pitchblende." 

Leigh Curyer, Chief Executive Officer commented: "Today's results indicate Arrow has substantial growth potential within each of the four shears as well as the A2 high grade domain. The team is looking forward to the summer program results as we define the current footprint of Arrow with infill and expansion drilling as well as drilling at the new area 180 m southwest of Arrow and along trend from Arrow where we see multiple high priority exploration targets."

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca
Group -
Basement
Unconformity
Depth (m)

Handheld Scintillometer Results (RS-120)

Hole ID

Azimuth

Dip

Total
Depth
(m)

From (m)

To (m)

Width (m)

CPS Range

AR-16-84c4

328

-70

651.00

127.00

415.00

415.50

0.50

<500 -  750

420.00

420.50

0.50

<500 -  920

424.00

424.50

0.50

<500 -  650

434.50

435.00

0.50

<500 -  600

440.00

444.00

4.00

<500 -  1700

471.50

475.50

4.00

<500 -  2300

480.00

480.50

0.50

<500 -  800

483.00

483.50

0.50

<500 -  950

490.50

493.50

3.00

<500 -  600

496.00

497.00

1.00

<500 -  750

502.00

503.00

1.00

<500 -  600

541.50

542.00

0.50

<500 -  820

545.50

546.00

0.50

<500 -  630

556.50

559.00

2.50

<500 -  930

566.00

588.00

22.00

<500 - >61000

592.00

604.00

12.00

<500 -  6400

608.50

609.00

0.50

<500 -  520

612.00

616.00

4.00

<500 -  2800

AR-16-85c3

143

-70

840.00

114.40

419.50

424.00

4.50

<500 -  4300

429.00

430.50

1.50

<500 -  600

437.50

440.00

2.50

<500 -  2200

443.00

447.50

4.50

<500 -  1500

455.50

457.00

1.50

<500 -  2400

460.00

472.00

12.00

<500 -  3200

475.50

476.50

1.00

<500 -  1900

483.00

483.50

0.50

<500 -  600

486.00

498.50

12.50

<500 -  1100

503.00

503.50

0.50

<500 -  580

506.50

507.00

0.50

<500 -  680

515.00

517.50

2.50

<500 -  620

531.00

531.50

0.50

650 -  1100

549.50

552.00

2.50

<500 - >61000

558.50

559.00

0.50

<500 -  550

567.50

568.00

0.50

<500 -  750

572.50

579.00

6.50

<500 -  30500

584.00

585.00

1.00

650 -  25000

611.00

612.00

1.00

<500 -  44000

614.50

617.50

3.00

<500 -  22000

629.50

630.50

1.00

<500 -  7200

633.00

633.50

0.50

<500 -  550

647.50

648.00

0.50

<500 -  2800

664.50

665.00

0.50

<500 -  1100

671.50

672.00

0.50

<500 -  4000

693.00

694.00

1.00

<500 -  18000

714.50

716.00

1.50

<500 -  5600

720.00

720.50

0.50

<500 -  730

789.50

790.50

1.00

<500 -  3300

AR-16-85c4

143

-70

822.00

114.40

426.50

443.00

16.50

<500 -  7000

453.50

454.50

1.00

<500 -  2300

457.00

472.50

15.50

<500 -  1500

476.50

480.50

4.00

<500 -  1250

484.50

485.50

1.00

<500 -  610

488.00

488.50

0.50

<500 -  530

492.00

492.50

0.50

<500 -  530

578.00

580.50

2.50

<500 -  5000

587.50

588.00

0.50

<500 -  780

591.50

595.50

4.00

<500 -  910

600.00

600.50

0.50

<500 -  530

604.00

604.50

0.50

<500 -  1050

613.00

613.50

0.50

<500 -  640

616.50

618.50

2.00

<500 -  3200

622.50

623.00

0.50

<500 -  700

628.00

637.50

9.50

<500 -  2100

670.00

670.50

0.50

<500 -  5300

683.00

684.50

1.50

<500 -  790

687.50

688.00

0.50

<500 -  590

690.50

696.00

5.50

<500 -  2300

742.50

743.50

1.00

<500 -  32000

747.00

750.50

3.50

<500 -  21000

760.00

761.00

1.00

<500 -  1250

AR-16-86c2

142

-71

750.00

110.50

402.00

419.50

17.50

<500 -  4800

424.50

426.00

1.50

<500 -  1400

431.50

432.00

0.50

<500 -  840

436.00

440.00

4.00

<500 -  2500

452.00

452.50

0.50

<500 -  610

455.00

455.50

0.50

<500 -  840

459.50

462.50

3.00

<500 -  3100

466.00

468.50

2.50

<500 -  1100

477.00

486.50

9.50

<500 -  1250

490.00

490.50

0.50

<500 -  1750

512.00

512.50

0.50

<500 -  760

515.00

517.50

2.50

<500 -  680

526.50

535.00

8.50

<500 -  32000

545.50

554.00

8.50

<500 -  5300

564.50

578.00

13.50

<500 -  54000

587.50

589.00

1.50

<500 -  5800

593.00

593.50

0.50

<500 -  2000

607.00

607.50

0.50

<500 -  630

623.00

623.50

0.50

<500 -  1250

630.50

631.00

0.50

<500 -  750

652.00

653.00

1.00

<500 -  3600

658.00

658.50

0.50

<500 -  600

697.00

697.50

0.50

<500 -  550

AR-16-91c1

327

-70

799.00

132.20

396.50

397.00

0.50

<500 -  5200

402.00

404.00

2.00

<500 -  2600

411.50

412.50

1.00

<500 -  800

416.50

417.00

0.50

<500 -  1000

419.50

420.50

1.00

<500 -  1200

425.50

428.00

2.50

<500 -  8900

430.50

439.50

9.00

<500 -  13000

443.00

452.00

9.00

<500 -  1500

458.00

461.00

3.00

<500 -  1300

465.50

483.00

17.50

<500 -  3500

489.50

494.00

4.50

<500 -  1500

499.00

504.00

5.00

<500 -  1600

506.50

525.00

18.50

<500 -  >61000

528.50

539.50

11.00

<500 -  29500

542.00

551.50

9.50

<500 -  11000

556.00

559.50

3.50

<500 -  1200

562.50

564.00

1.50

<500 -  7200

652.50

655.00

2.50

<500 -  920

691.50

692.50

1.00

<500 -  4400

698.50

701.50

3.00

<500 -  2500

705.50

729.50

24.00

<500 -  5800

759.50

760.00

0.50

<500 -  1100

766.50

767.00

0.50

<500 -  1400

AR-16-91c3

327

-70

879.00

132.20

344.00

344.50

0.50

<500 -  710

398.00

398.50

0.50

<500 -  900

407.00

407.50

0.50

<500 -  550

413.50

414.00

0.50

<500 -  750

419.50

420.00

0.50

<500 -  1300

423.00

441.50

18.50

<500 -  7100

444.50

446.00

1.50

<500 -  15000

449.50

451.50

2.00

<500 -  1900

455.00

455.50

0.50

<500 -  950

460.50

462.00

1.50

<500 -  1650

464.50

466.50

2.00

<500 -  2350

472.50

479.50

7.00

<500 -  2600

484.00

504.00

20.00

<500 - >61000

513.50

516.50

3.00

<500 -  1800

520.00

537.50

17.50

<500 - >61000

575.00

584.50

9.50

<500 -  1500

618.00

619.00

1.00

<500 -  620

625.50

647.00

21.50

<500 -  43000

652.50

654.50

2.00

<500 -  1300

657.00

663.00

6.00

<500 -  54000

676.50

677.50

1.00

<500 -  1450

709.00

710.00

1.00

<500 -  2300

714.00

720.50

6.50

<500 -  27000

724.00

725.00

1.00

<500 -  580

AR-16-91c4

327

-70

855.00

132.20

400.50

402.50

2.00

<500 -  1000

406.00

408.50

2.50

<500 -  2150

412.00

412.50

0.50

<500 -  1650

419.50

421.00

1.50

<500 -  3800

425.50

434.50

9.00

<500 -  13000

437.50

439.00

1.50

<500 -  2100

441.50

443.50

2.00

<500 -  700

446.50

450.00

3.50

<500 -  1500

457.00

458.00

1.00

<500 -  900

465.50

479.00

13.50

<500 -  2800

499.50

516.00

16.50

<500 -  3900

518.50

541.00

22.50

<500 -  >61000

732.50

734.00

1.50

<500 -  2400

551.50

557.00

5.50

<500 -  >61000

573.50

575.50

2.00

<500 -  610

591.00

591.50

0.50

<500 -  610

604.00

609.00

5.00

<500 -  1600

623.50

627.00

3.50

<500 -  900

630.50

631.00

0.50

<500 -  900

636.00

678.50

42.50

<500 -  29000

685.50

691.50

6.00

<500 -  3300

696.00

725.00

29.00

<500 -  26000

AR-16-92c1

147

-67

930.00

111.00

535.50

541.50

6.00

<500 -  9900

544.50

546.50

2.00

<500 -  5300

549.50

550.50

1.00

<500 -  32000

558.00

558.50

0.50

<500 -  690

566.00

624.25

58.25

<500 -  54000

627.80

647.00

19.20

<500 - >61000

650.00

654.00

4.00

<500 -  2900

679.00

682.50

3.50

<500 -  1000

707.50

708.50

1.00

<500 -  520

731.00

733.50

2.50

<500 -  1800

738.00

738.50

0.50

<500 -  770

745.00

745.50

0.50

<500 -  540

749.00

749.50

0.50

<500 -  510

762.50

763.00

0.50

<500 -  580

773.00

773.50

0.50

<500 -  510

781.00

781.50

0.50

<500 -  920

784.50

792.00

7.50

<500 -  3300

812.00

814.50

2.50

<500 -  5400

817.00

824.50

7.50

<500 -  17000

827.00

829.00

2.00

<500 -  1800

833.00

848.50

15.50

<500 -  3500

851.00

861.00

10.00

<500 -  12000

869.00

870.00

1.00

<500 -  20000

872.50

873.00

0.50

<500 -  2200

882.50

884.50

2.00

<500 -  17000

913.50

914.50

1.00

<500 -  850

922.50

923.00

0.50

<500 -  530

 

Parameters:

  • Maximum internal dilution 2.00 m downhole
  • All depths and intervals are meters downhole
  • "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
  • Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-120 gamma-ray scintillometer. 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. All intersections are downhole. True thicknesses are yet to be determined.

Split core samples will be taken systematically, and intervals will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples sent to SRC will be analyzed using ICP-MS for trace elements on partial and total digestions, ICP-OES for major and minor elements on a total digestion, and fusion solution of boron by ICP-OES. Mineralized samples are analyzed for U3O8 by ICP-OES and select samples for gold by fire assay. Assay results will be released when received and after stringent internal QA/QC protocols are passed.

The technical information in this news release has been approved by Garrett Ainsworth, P.Geo., Vice President – Exploration & Development, a qualified person for the purposes of National Instrument 43- 101 – Standards of Disclosure for Mineral Projects. Mr. Ainsworth reviewed the data disclosed in this news release, including the sampling, analytical and test data underlying the information contained in this news release.

The mineral resource at the Arrow Deposit was completed by RPA Inc. and has an effective date of January 14, 2016. The mineral resource is reported at a cut-off grade of 0.25% U3O8. The cut-off is based on a long-term uranium price of USD$65/lb U3O8. The mineral resource is classified into the inferred category based on the CIM Definition Standards. For details regarding the geology and mineralization of the Arrow Deposit, the drilling, sampling and analytical procedures followed and the estimation methodology used in the preparation of the mineral resources, please refer to the Company's Amended and Restated News Release dated March 3, 2016, which is available under the Company's profile on the SEDAR website at www.sedar.com.

ARROW DEPOSIT DRILLING

AR-16-84c4

Hole AR-16-84c4 was a directional hole that departed pilot hole AR-16-84c3 at a depth of 291 m. It was designed as a scissor hole to verify the thickness of near vertically dipping mineralization in the A2 shear. The hole tested the A2 shear 12 m down-dip and northeast of AR-16-64c2 (11.15% U3O8 over 48.5 m in the A2 shear). Directional drilling was initiated at 510 m and the A2 shear was intersected at an inclination of -66°.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 and A3 shears that was associated with semi-massive to massive veins, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 58.0 m of mineralization including 5.7 m of off-scale radioactivity (>10,000 - >61,000 cps) was intersected within a 201.0 m section (415.0 to 616.0 m). In the A2 shear, 42.0 m of composite mineralization including 5.7 m of off-scale radioactivity was intersected. In the A3 shear, 16.0 m of composite mineralization was intersected. The hole was terminated at 651.

AR-16-85c3

Hole AR-16-85c3 was a directional hole that departed pilot hole AR-16-85c2 at 279 m. It tested the A2 shear 36 m up-dip and southwest of AR-16-86c1 (13.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 50 m up-dip and southwest of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear). Directional drilling was initiated at 294 m. The A2 and A3 shears were intersected at hole inclinations of -64° and -63°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 through A4 shears that was associated with stringers, worm-rock style, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 66.5 m including 2.6 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 371.0 m section (419.5 to 790.5 m). In the A2 shear, 40.5 m of composite mineralization was intersected. In the A3 shear, 19.0 m of composite mineralization including 2.25 m of composite mineralization was intersected. In the A4 shear, 6.0 m of composite mineralization including 0.35 m of off-scale radioactivity was intersected. The hole was terminated at 840 m.

AR-16-85c4

Hole AR-16-85c4 was a directional hole that departed pilot hole AR-16-85c3 at 297 m. It tested the A2 shear 21 m up-dip and southwest of AR-16-86c1 (13.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 34 m down-dip and southwest of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear). Directional drilling was initiated at 342 m. The A2 and A3 shears were intersected at inclinations of -67° and -68°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 through A4 shears that was associated with stringers, worm-rock style, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 73.0 m including 0.6 m of off-scale radioactivity (>10,000 to 32,000 cps) was intersected within a 334.5 m section (426.5 to 761.0 m). In the A2 shear, 39.0 m of composite mineralization was intersected. In the A3 shear, 21.0 m of composite mineralization was intersected. In the A4 shear, 13.0 m of composite mineralization including 0.6 m of off-scale radioactivity was intersected. The hole was terminated at 822 m.

AR-16-86c2

Hole AR-16-86c2 was a directional hole that departed pilot hole AR-16-86c1 at 223 m. It tested the A2 shear 46 m up-dip and northeast of AR-16-86c1 (13.05 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 75 m up-dip and northeast of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear). Directional drilling was initiated at 294 m. The A2 and A3 shears were intersected at hole inclinations of -59° and -60°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected weakly to strongly anomalous radioactivity in the A2 through A4 shears that was associated with stringers, worm-rock style, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 79.0 m including 1.2 m of off-scale radioactivity (>10,000 to 54,000 cps) was intersected within a 295.5 m section (402.0 to 697.5 m). In the A2 shear, 30.0 m of composite mineralization was intersected. In the A3 shear, 43.5 m of composite mineralization was intersected including 1.2 m of off-scale radioactivity. In the A4 shear, 5.5 m of composite mineralization was intersected. The hole was terminated at 750 m.

AR-16-91c1

Hole AR-16-91c1 was a directional hole collared from surface at an angled orientation (-70°) to the northwest (327° Azimuth). It was designed as a scissor hole to both verify the thickness of the near vertically dipping mineralization in the A2 shear and to test the A1 shear in the area of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending). Directional drilling was initiated at 216 m. The A1 and A2 shears were intersected at inclinations of -63° and -69°, respectively.

The hole intersected heavily bleached and desilicified Athabasca Group sandstones between 123.0 m and the unconformity at 132.2 m. Basement lithologies consisted largely of semipelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). Anomalous radioactivity was intersected in the A1 through A3 shears in association with stringer, disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 131.0 m including 3.8 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 370.5 m section (396.5 to 767.0 m). In the A1 shear, 30.5 m of composite mineralization was intersected. In the A2 shear, 92.0 m of composite mineralization including 3.85 m of off-scale radioactivity was intersected. In the A3 shear, 7.5 m of composite mineralization was intersected. The hole was terminated at 799 m.

AR-16-91c3

Hole AR-16-91c3 was a directional hole that departed pilot hole AR-16-91c2 at a depth of 219 m. It was designed as a scissor hole to both verify the thickness of the near vertically dipping mineralization in the A2 shear and to test the A1 shear in the area of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending). Directional drilling was initiated at 391 m. The A1 and A2 shears were both intersected at inclinations of -67°.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected highly anomalous radioactivity in the A1 through A3 shears that was associated with semi-massive to massive veins, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 125.5 m including 11.95 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 381.0 m section (344.0 to 725.0 m). In the A1 shear, 49.5 m of total composite mineralization including 5.0 m of off-scale radioactivity was intersected. In the A2 shear, 74.5 m of total composite mineralization including 6.95 m of off-scale radioactivity was intersected. In the A3 shear, a total composite mineralization of 1.5 m was intersected. The hole was terminated at 879 m.   

AR-16-91c4

Hole AR-16-91c4 was a directional hole that departed pilot hole AR-16-91c3 at a depth of 228 m. It was designed as a scissor hole to both verify the thickness of the near vertically dipping mineralization in the A2 shear and to test the A1 shear in the area of AR-16-84c1 (8.35 m of off-scale radioactivity; assays pending). Directional drilling was initiated at 240 m. The A1 and A2 shears were intersected at hole inclinations of -69° and -68°, respectively. 

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected highly anomalous radioactivity in the A1 through A3 shears that was associated with semi-massive to massive veins, chemical solution fronts, blebs and flecks of pitchblende. A total composite mineralization of 172.0 m including 13.75 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 323.5 m section (400.5 to 724.0 m). In the A1 shear, 87.0 m of total composite mineralization including 4.1 m of off-scale radioactivity was intersected. In the A2 shear, 78.5 m of total composite mineralization including 9.65 m of off-scale radioactivity was intersected. In the A3 shear, a total composite mineralization of 6.5 m was intersected. The hole was terminated at 855 m.

AR-16-92c1

Hole AR-16-92c1 was a directional hole collared from surface at an angled orientation (-67°) to the southeast (147° Azimuth). It tested the A2 shear 41 m down-dip of AR-16-76c3 (10.25% U3O8 over 74.0 m in the A2 shear) and the A3 shear 61 m up-dip and northeast of AR-15-54c2 (2.66% U3O8 over 14.5 m in the A3 shear). Directional drilling was initiated 210 m. The A2 and A3 shears were intersected at inclinations of -64° and -63°, respectively.

The hole intersected bleached and desilicified Athabasca Group sandstones between 91.0 m and the unconformity at 111.0 m. Basement lithologies consisted largely of semipelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A4 shears). Strongly anomalous radioactivity was intersected in the A2 through A4 shears in association with semi-massive to massive veins, stringers, disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 150.95 m including 10.3 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 387.5 m section (535.5 to 923.0 m). In the A2 shear, 86.95 m of composite mineralization including 9.5 m of off-scale mineralization was intersected. In the A3 shear, 12.5 m of composite mineralization was intersected. In the A4 shear, 50.0 m of composite mineralization including 0.8 m of off-scale mineralization was intersected. The hole was terminated at 930 m.

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Discovery in February 2014. The Arrow Deposit's maiden Inferred mineral resource estimate is 201.9 M lbs U3O8 contained in 3.48 M tonnes grading 2.63% U3O8.  Rook I also hosts the Bow Discovery which is 3.7 km along trend and northeast of Arrow and was made in March 2015.

The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.  "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the proposed use of proceeds and planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, pending assay results may not be consistent with preliminary results, discretion in the use of proceeds, alternative sources of energy, aboriginal title and consultation issues, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

SOURCE NexGen Energy Ltd.

Image with caption: "Figure 1: Arrow Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160713_C8903_PHOTO_EN_733442.jpg

Image with caption: "Figure 2: A1 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160713_C8903_PHOTO_EN_733444.jpg

Image with caption: "Figure 3: A2 Mineralized Shear Long Section (Close Up of A2 Sub-Zone) (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160713_C8903_PHOTO_EN_733446.jpg

For further information: Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, lcuryer@nexgenenergy.ca, www.nexgenenergy.ca; Travis McPherson, Corporate Development Manager, NexGen Energy Ltd., +1 604 428 4112, tmcpherson@nexgenenergy.ca, http://www.nexgenenergy.ca

RELATED LINKS
www.nexgenenergy.ca

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890