VANCOUVER, BC, May 1, 2023
/PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the
"Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to
announce that it has received significant initial interest from
prospective financial institutions, including commercial lenders
and export credit agencies, for providing project financing for the
Rook I Project (the "Project" or "Rook I"). To date, NexGen has
received non-binding expressions of interest totalling over
US$1 Billion in available debt for
the Project, subject to acceptable financing terms and conditions
as well as satisfactory due diligence (including environmental and
social reviews) and the entering into of definitive
documentation.
The progress of project financing discussions with external
parties further validates the high-quality nature of Rook I – a
low-cost operation in the tier-one jurisdiction of Saskatchewan that continues to demonstrate
elite technical, environmental, and social standards with strong
support from local communities. NexGen will continue to progress
discussions with the groups and provide updates on this matter as
appropriate. Finalization of the agreements is scheduled for Q4
2023 in line with the Project development schedule.
Leigh Curyer, Chief Executive Officer, commented: "Strong
interest from lenders and other financing parties for the
development of Rook I demonstrates NexGen's delivery of a
sustainable, clean energy legacy that will benefit our valued
stakeholders and all of Canada.
The receipt of these expressions of interest are a clear de-risking
step demonstrating lender confidence in the economics of the Rook I
Project, the uranium market fundamentals incorporating the Project
and the elite ESG manner NexGen is delivering in the development of
the Project."
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.
Technical Disclosure
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.
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 materially 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
(including the project financing referred to herein), 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 24,
2023 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.