NexGen Signs Impact Benefit Agreement with Clearwater River Dene Nation

VANCOUVER, BC, April 25, 2022 – 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 ).

NT5