VANCOUVER, BC, April 25,
2022 /CNW/ - NexGen Energy Ltd. ("NexGen" or the
"Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to
announce the signing of an Impact Benefit Agreement ("IBA") with
the Clearwater River Dene Nation ("CRDN"), covering all phases of
the Rook I Project ("Rook I" or the "Project"), which hosts the
100% owned Arrow uranium deposit.
NexGen signs a historic IBA with CRDN. The Rook I Project
is located within the traditional territory of the CRDN. The IBA
defines the environmental, cultural, economic, employment and other
benefits to be provided to the CRDN by NexGen in respect of the
Project, and to confirm the consent and support of CRDN for the
Project throughout its complete lifecycle, including reclamation.
The Agreement was negotiated and developed out of the Study
Agreement that was signed in 2019 between NexGen and the CRDN. The
Study Agreement formalized engagement with the CRDN to identify
potential impacts to Aboriginal and treaty rights and
socio-economic interests, and identify potential avoidance and
accommodation measures in relation to the Project whilst
acknowledging the duty to consult remains with the Crown. Further,
the Study Agreements provided CRDN support to negotiate the IBA.
Note, the IBA does not abrogate, extinguish, or constitute the
abandonment of any existing Aboriginal, inherent, or treaty rights
of the CRDN recognized and affirmed pursuant to Section 35 of the
Constitution Act, 1982. Importantly, the Agreement is entered into
in recognition of the Aboriginal and Treaty Rights of the CRDN.
Chief Teddy Clark of
Clearwater River Dene Nation, commented: "Since as early
as 2013, the Rook I Project has been a platform for both NexGen and
CRDN to set a new and elite standard on Indigenous engagement,
participation, and partnerships, for projects in the traditional
territory of Indigenous peoples. The signing of this IBA formalizes
these new standards, and provides the CRDN and all its members the
opportunities for lifelong, sustainable jobs and business
opportunities right in our own backyard. The IBA encompasses the
most important principles to CRDN and its people in environmental
protection and assurance and support for culture and traditional
values. These important articles of the IBA, in addition to the
financial aspects, provide CRDN and its members the opportunity to
be a major partner in the responsible development of the Rook I
Project for the entire life of the mine. Our community and NexGen
have built a meaningful relationship over the past 10 years, based
on respect, trust, and confidence, and this agreement formalizes
this relationship. NexGen has always demonstrated it truly wants
success for CRDN and its members and we look forward to advancing
the Rook I Project with NexGen, throughout all phases of its
lifecycle."
Leigh Curyer, Chief Executive Officer of NexGen, commented:
"The signing of this Agreement reflects the meaningful respect,
trust and commitment over the past ten years between NexGen and the
CRDN. The Agreement formalizes NexGen's commitment of working in
partnership with local Indigenous communities, with the mutual
objective to responsibly develop the Rook I Project. I commend
Chief Clark, his council and the entire CRDN engagement team for
their deep commitment to CRDN and its membership, and their
collaboration in working with NexGen to finalize this industry
leading IBA. This is coincident with the Rook I Project
transitioning into a very exciting stage of development with
numerous site-based infrastructure and preparatory construction
programs to commence in 2022."
About NexGen
NexGen is a British Columbia
corporation focused on the development of the Rook I Project
located in the southwestern Athabasca Basin, Saskatchewan, Canada, into production. The
Rook I Project is supported by a NI 43-101 compliant Feasibility
Study which outlines elite environmental performance as well as
industry leading economics. Rook I hosts the Arrow Deposit that
hosts Measured Mineral Resources of 209.6
M lbs of U3O8 contained
in 2.18 M tonnes grading 4.35%
U3O8, Indicated Mineral Resources
of 47.1 M lbs of
U3O8 contained in 1.57
M tonnes grading 1.36% U3O8, and
Inferred Mineral Resources of 80.7 M lbs of
U3O8 contained in 4.40
M tonnes grading 0.83% U3O8.
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. 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.
www.nexgenenergy.ca
Technical Disclosure
All technical information in this news release has been
reviewed and approved by Anthony (Tony) George, P.Eng., 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
( 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.
Forward-Looking
Information
The information contained herein contains "forward-looking
statements" within the meaning of applicable United
States securities laws and regulations and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to mineral reserve and mineral
resource estimates, the 2021 Arrow Deposit, Rook I Project and
estimates of uranium production, grade and long-term average
uranium prices, anticipated effects of completed drill results on
the Rook I Project, planned work programs, completion of further
site investigations and engineering work to support basic
engineering of the project and expected outcomes. 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
connotation thereof. Statements relating to "mineral
resources" are deemed to be forward-looking information, as they
involve the implied assessment that, based on certain estimates and
assumptions, the mineral resources described can be profitably
produced in the future.
Forward-looking information and statements are based on the
then current expectations, beliefs, assumptions, estimates and
forecasts about NexGen's business and the industry and markets in
which it operates. Forward-looking information and statements are
made based upon numerous assumptions, including among others, that
the mineral reserve and resources estimates and the key assumptions
and parameters on which such estimates are based are as set out in
this news release and the technical report for the property , the
results of planned exploration activities are as anticipated, the
price and market supply of uranium, the cost of planned exploration
activities, that financing will be available if and when needed and
on reasonable terms, that third party contractors, equipment,
supplies and governmental and other approvals required to conduct
NexGen's planned exploration activities will be available on
reasonable terms and in a timely manner and that general business
and economic conditions will not change in a material adverse
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 in the
future.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual results, performances and achievements of NexGen to
differ materially from any projections of results, performances and
achievements of NexGen expressed or implied by such forward-looking
information or statements, including, among others, the existence
of negative operating cash flow and dependence on third party
financing, uncertainty of the availability of additional financing,
the risk that pending assay results will not confirm previously
announced preliminary results, conclusions of economic valuations,
the risk that actual results of exploration activities will be
different than anticipated, the cost of labour, equipment or
materials will increase more than expected, that the future price
of uranium will decline or otherwise not rise to an economic level,
the appeal of alternate sources of energy to uranium-produced
energy, that the Canadian dollar will strengthen against the U.S.
dollar, that mineral resources and reserves are not as estimated,
that actual costs or actual results of reclamation activities are
greater than expected, that changes in project parameters and plans
continue to be refined and may result in increased costs, of
unexpected variations in mineral resources and reserves, grade or
recovery rates or other risks generally associated with mining,
unanticipated delays in obtaining governmental, regulatory or First
Nations approvals, risks related to First Nations title and
consultation, reliance upon key management and other personnel,
deficiencies in the Company's title to its properties, uninsurable
risks, failure to manage conflicts of interest, failure to obtain
or maintain required permits and licences, risks related to changes
in laws, regulations, policy and public perception, as well as
those factors or other risks as more fully described in NexGen's
Annual Information Form dated February
25, 2022 filed with the securities commissions of all of the
provinces of Canada except Quebec and in
NexGen's 40-F filed with the United States Securities and Exchange
Commission, which are available on SEDAR
at www.sedar.com and Edgar
at www.sec.gov .
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 statements or
implied by forward-looking information or statements, there may be
other factors that cause results not to be as anticipated,
estimated or intended. Readers are cautioned not to place
undue reliance on forward-looking information or statements due to
the inherent uncertainty thereof.
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.
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SOURCE NexGen Energy Ltd.