Final Winter Assays Confirm High Grade Uranium Mineralization in Step-Out Drilling at Arrow

Figure 1: A3 Mineralized Long Section (CNW Group/NexGen Energy Ltd.)

Figure 2: Arrow Deposit Schematic Long Section (CNW Group/NexGen Energy Ltd.)

Figure 3: Arrow Hole Locations (CNW Group/NexGen Energy Ltd.)

Figure 4: Exploration Drill Hole Locations (CNW Group/NexGen Energy Ltd.)

VANCOUVER, July 25, 2017 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE,NYSEMKT:NXE) is pleased to report final assay results for  the winter 2017 drilling program at our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.

A3 Shear Expansion Drilling

Step-out hole AR-17-136c2 which intersected a new area of semi-massive to massive pitchblende mineralization in the A3 shear has returned high grade assays.   This high grade uranium mineralization was intersected 40 m outside the current resource, and 70 m outside the current A3 High Grade Domain. 

• Step-out hole AR-17-136c2 (170 m northeast and up-dip from AR-15-57c2) intersected 13.5 m at 9.58% U3O8 (446.5 to 460.0 m) including 5.0 m at 23.49% U3O8 (451.0 to 456.0 m).

Southwest Gap Area

First pass drill testing of the Southwest Gap intersected numerous lenses of high grade uranium mineralization that has connected the 180 m Southwest area with the Arrow Deposit. The Southwest Gap represents a material resource expansion opportunity as it was not included in the March 2017 updated mineral resource estimate.

• Step-out hole AR-17-131c3 (80 m northeast and down-dip from AR-15-97) intersected 21.5 m at 2.51% U3O8 (646.0 to 667.5 m) including 7.0 m at 4.68% U3O8 (649.5 to 656.0 m).
• Step-out hole AR-17-131c4 (120 m northeast and down-dip from AR-15-97) intersected 22.5 m at 1.67% U3O8 (805.5 to 828.0 m).
• Step-out hole AR-17-143c1 (100 m northeast and up-dip from AR-15-97) intersected 15.5 m at 1.09% U3O8 (663.0 to 678.5 m).

Southeast of Arrow Drilling

Highly anomalous uranium values have been intersected in the first two holes to test an Arrow-parallel structure 300 m southeast of the Arrow Deposit. Importantly, this mineralization is located on a completely separate conductor than the one that hosts the Arrow Deposit and it is the first time uranium mineralization has been encountered on this conductor.  Both holes were targeting a large 3D resistivity anomaly with a similar size and intensity as the large 3D anomaly that is associated with Arrow.  Hole RK-17-118w1, which intersected a narrow zone of visible pitchblende mineralization returned 0.25 m at 0.09% U3O8­. Follow-up drilling in this newly identified and highly prospective area has been prioritized and is currently underway.

Arrow, Activities & Financial

• A seven-rig summer development program consisting of a minimum of 25,000 m of drilling and multiple pre-feasibility staged technical studies is underway.
• A maiden Preliminary Economic Assessment is imminently scheduled.
• The Company has cash on hand of approximately $200 million (see News Release dated July 21,  2017).

Longitudinal sections and maps showing drill hole locations are shown in Figures 1 to 4.  Tables 1 and 2 show complete assay results for holes included herein.

Garrett Ainsworth, Vice-President, Exploration and Development, commented: "This last batch of drill hole assays from the winter 2017 program have confirmed previously released radioactivity results with strong grades over wide intervals, which will add to the existing Mineral Resource Estimate which was only based on drilling up to the end of 2016.  The Arrow Deposit remains open in most directions with significant potential for both Inferred growth as well as rapid conversion to Indicated."       

Leigh Curyer, Chief Executive Officer, commented: "These final winter 2017 assays confirm Arrow is still wide open for material expansion within and outside the current area of mineralization.   The maiden PEA is due imminently which will not include any of the results from winter or summer 2017 drilling. With closing the CEF financing, NexGen is in a very strong position to optimize Arrow and deliver it as a leading resource project."

Table 1: Arrow Deposit Assay Results
Drill Hole				Athabasca Group - Basement Unconformity Depth (m)	SRC Geoanalytical Results
Hole ID	Azimuth	Dip	Total Depth (m)		From (m)	To (m)	Interval (m)	U3O8 (wt%)
AR-17-122	147	-70	381.50	96.10	224.00	227.00	3.00	0.01
					235.50	253.00	17.50	0.10
					240.50	246.00	5.50	0.25
AR-17-123c1	147	-70	906.50	101.50	671.00	675.50	4.50	0.05
					685.00	688.50	3.50	0.02
					708.00	708.50	0.50	0.13
					725.00	727.50	2.50	0.07
					730.50	733.50	3.00	0.09
					830.00	831.00	1.00	0.24
AR-17-123c2	147	-70	864.50	101.50	650.00	658.00	8.00	0.10
					668.50	670.00	1.50	1.91
					675.00	676.00	1.00	0.25
					680.50	684.00	3.50	0.21
					687.00	688.00	1.00	0.41
					707.00	720.50	13.50	0.35
					725.50	742.00	16.50	0.32
					753.50	754.00	0.50	0.13
					760.50	765.50	5.00	0.02
					778.00	779.50	1.50	0.02
					784.50	791.00	6.50	0.16
					824.50	825.00	0.50	0.01
					833.00	835.00	2.00	0.06
					837.50	838.00	0.50	0.01
					843.50	844.50	1.00	0.06
					847.50	852.00	4.50	0.05
AR-17-123c3	147	-70	984.50	101.50	648.00	651.00	3.00	0.01
					653.50	654.50	1.00	1.79
					657.00	662.00	5.00	0.14
					665.00	671.00	6.00	0.36
					680.50	683.00	2.50	0.07
					686.50	688.50	2.00	0.04
					694.00	761.00	67.00	0.17
				incl.	699.00	714.00	15.00	0.38
					783.00	784.00	1.00	0.09
					794.00	797.50	3.50	0.02
					803.50	804.00	0.50	0.03
					816.00	818.00	2.00	0.04
					836.00	838.50	2.50	0.03
					848.00	848.50	0.50	0.07
					881.50	884.50	3.00	0.09
					944.00	945.50	1.50	0.02
AR-17-123c4	147	-70	864.50	101.50	660.00	667.50	7.50	0.16
					672.50	680.50	8.00	0.70
					683.50	707.50	24.00	0.42
					710.50	737.50	27.00	0.36
					740.50	754.50	14.00	0.76
					757.50	760.00	2.50	0.25
					790.00	790.50	0.50	0.02
					829.00	829.50	0.50	0.19
					842.50	843.00	0.50	0.03
AR-17-124	147	-70	411.00	93.40	No Significant Intersections
AR-17-125	327	-70	417.00	N/A	232.50	249.00	16.50	0.23
					246.50	249.00	2.50	0.98
AR-17-128	327	-70	357.00	N/A	194.00	200.00	6.00	0.43
				incl.	195.50	198.00	2.50	1.00
					213.00	218.00	5.00	0.65
				incl.	215.00	217.50	2.50	1.27
AR-17-129c1	327	-70	1074.50	N/A	670.00	671.00	1.00	1.65
					763.50	773.00	9.50	0.39
					779.00	783.00	4.00	0.88
					791.00	794.50	3.50	0.98
					801.50	808.50	7.00	1.15
					801.50	802.00	0.50	13.10
					812.00	814.50	2.50	0.21
					819.50	823.50	4.00	0.10
					831.50	833.50	2.00	0.04
					838.50	840.00	1.50	0.01
					845.00	847.50	2.50	0.02
					851.00	853.50	2.50	0.02
					894.50	896.00	1.50	2.18
					899.00	905.50	6.50	1.37
				incl.	899.00	901.00	2.00	4.18
					913.50	923.50	10.00	0.48
					939.50	940.00	0.50	0.02
					982.00	982.50	0.50	0.07
					987.50	999.50	12.00	0.07
					1005.50	1007.00	1.50	0.02
AR-17-129c2	327	-70	1002.50	N/A	603.50	604.00	0.50	0.04
					641.00	642.00	1.00	0.08
					653.00	657.00	4.00	0.48
					664.50	667.00	2.50	0.20
					671.50	672.00	0.50	0.20
					691.00	693.50	2.50	0.19
					698.50	702.00	3.50	2.19
					720.00	721.50	1.50	0.22
					726.50	727.50	1.00	0.02
					757.50	758.50	1.00	6.39
					780.00	799.00	19.00	0.05
					805.00	812.00	7.00	0.05
					822.50	824.00	1.50	0.03
					831.00	832.00	1.00	0.13
					850.50	867.50	17.00	0.16
					873.00	876.50	3.50	0.34
					893.00	894.00	1.00	0.21
					977.00	977.50	0.50	0.06
					984.50	985.50	1.00	0.18
					994.50	995.50	1.00	0.12
AR-17-129c3	327	-70	981.50	N/A	693.50	694.00	0.50	0.02
					796.50	797.00	0.50	0.05
					807.50	808.00	0.50	0.19
					811.00	812.00	1.00	1.15
					815.50	817.50	2.00	0.81
					825.00	838.00	13.00	0.65
					841.50	844.00	2.50	0.04
					848.00	848.50	0.50	0.02
					852.00	854.50	2.50	0.07
					862.00	864.00	2.00	0.02
					872.50	873.00	0.50	0.07
					875.50	880.50	5.00	0.10
					897.50	898.00	0.50	0.12
					917.50	918.50	1.00	0.15
					929.00	941.50	12.50	1.08
					952.50	953.00	0.50	0.16
AR-17-129c4	327	-70	1023.50	N/A	611.50	613.00	1.50	0.48
					651.00	651.50	0.50	2.84
					654.50	655.00	0.50	0.98
					689.00	690.00	1.00	2.26
					742.00	744.00	2.00	0.19
					766.00	768.00	2.00	1.86
					775.50	776.00	0.50	0.01
					781.00	787.00	6.00	0.04
					798.50	813.50	15.00	0.07
					826.00	827.50	1.50	0.03
					831.00	834.50	3.50	0.02
					839.00	839.50	0.50	0.04
					846.00	847.50	1.50	0.03
					851.50	853.00	1.50	0.03
					879.50	880.00	0.50	0.02
					884.00	887.00	3.00	0.02
					892.00	894.00	2.00	0.03
					914.50	916.50	2.00	0.14
					932.00	932.50	0.50	0.07
					952.00	952.50	0.50	0.17
					984.00	985.00	1.00	0.30
AR-17-130	327	-70	321.00	N/A	181.50	183.00	1.50	1.03
AR-17-131c1	147	-70	857.50	100.50	659.50	660.00	0.50	4.81
					677.00	677.50	0.50	0.03
					785.00	785.50	0.50	0.15
AR-17-131c2	147	-70	963.50	100.50	562.50	563.00	0.50	0.01
					661.50	662.00	0.50	0.02
					671.00	674.50	3.50	0.04
					685.50	687.00	1.50	0.04
					718.00	718.50	0.50	0.03
					749.00	749.50	0.50	0.18
					752.00	754.00	2.00	0.28
					759.50	760.50	1.00	0.14
					765.50	769.00	3.50	0.40
					771.50	775.50	4.00	0.03
					788.50	793.50	5.00	0.01
					821.50	822.00	0.50	0.06
					828.50	829.00	0.50	0.46
					857.00	858.00	1.00	0.15
					869.50	870.50	1.00	0.36
					927.00	927.50	0.50	0.02
AR-17-131c3	147	-70	1029.50	100.50	646.00	667.50	21.50	2.51
				incl.	649.50	656.50	7.00	4.68
					670.50	680.50	10.00	0.23
					711.50	712.00	0.50	0.02
					724.50	725.50	1.00	0.04
					763.50	768.50	5.00	0.07
					772.50	774.50	2.00	0.05
					777.50	785.50	8.00	0.04
					803.50	809.50	6.00	0.09
					816.50	823.00	6.50	0.05
					844.00	844.50	0.50	0.02
					865.00	865.50	0.50	0.02
					881.00	881.50	0.50	0.05
					892.50	893.00	0.50	0.02
					897.00	898.50	1.50	0.02
					908.00	923.50	15.50	0.04
					933.50	943.00	9.50	0.03
					946.50	947.50	1.00	0.02
					952.00	952.50	0.50	0.08
					959.50	961.00	1.50	0.02
					976.00	977.00	1.00	0.03
					982.50	984.00	1.50	0.02
AR-17-131c4	147	-70	1044.50	100.50	647.00	667.50	20.50	0.17
					670.50	684.00	13.50	0.11
					689.00	689.50	0.50	0.11
					698.50	699.00	0.50	0.01
					736.00	750.00	14.00	0.14
					753.00	753.50	0.50	0.02
					768.00	771.50	3.50	0.08
					784.50	786.50	2.00	0.18
					805.50	828.00	22.50	1.67
					833.00	833.50	0.50	0.15
					839.00	839.50	0.50	0.08
					856.50	857.00	0.50	0.06
					876.50	877.00	0.50	0.07
					942.50	945.00	2.50	0.06
					989.00	990.00	1.00	0.04
AR-17-132	327	-70	232.00	N/A	No Significant Intersections
AR-17-134	327	-70	401.00	102.50	232.00	239.00	7.00	0.15
AR-17-135	327	-70	285.00	102.40	No Significant Intersections
AR-17-136c1	327	-70	567.00	128.40	432.50	435.50	3.00	0.04
					441.50	444.00	2.50	0.39
					450.50	451.50	1.00	0.31
					475.50	476.50	1.00	0.91
					485.50	498.50	13.00	0.29
AR-17-136c2	327	-70	849.00	128.40	399.50	410.00	10.50	0.08
					414.00	416.00	2.00	0.23
					429.50	432.50	3.00	0.10
					436.50	441.00	4.50	1.07
					446.50	460.00	13.50	9.58
				incl.	451.00	456.00	5.00	23.49
					539.50	551.00	11.50	0.32
					554.00	554.50	0.50	0.07
					614.50	615.00	0.50	0.07
					752.00	756.00	4.00	0.53
					767.00	768.50	1.50	0.07
					803.50	804.00	0.50	0.05
					819.50	820.00	0.50	0.01
AR-17-137	327	-70	366.00	N/A	No Significant Intersections
AR-17-139	327	-70	321.00	N/A	No Significant Intersections
AR-17-140	327	-70	477.00	108.60	260.00	263.50	3.50	0.04
AR-17-141	327	-70	330.00	N/A	No Significant Intersections
AR-17-142	327	-70	348.00	N/A	No Significant Intersections
AR-17-143c1	147	-70	852.50	104.90	620.00	621.00	1.00	0.12
					629.00	631.50	2.50	0.02
					634.00	634.50	0.50	0.06
					663.00	678.50	15.50	1.09
					681.50	682.50	1.00	3.52
					686.00	686.50	0.50	1.42
					703.50	706.00	2.50	0.26
AR-17-144c1	327	-70	801.00	112.90	460.00	461.00	1.00	0.04
					497.50	503.00	5.50	0.03
					508.00	509.00	1.00	0.02
					512.00	514.50	2.50	0.06
					531.50	534.00	2.50	0.17
					537.00	539.00	2.00	0.34
					544.00	558.00	14.00	1.15
					563.00	564.00	1.00	0.02
					578.00	602.00	24.00	0.69
					614.50	617.00	2.50	0.11
AR-17-144c2	327	-70	723.50	112.90	468.50	472.50	4.00	0.04