NexGen Announces Submission of the Rook I Project Environmental Impact Statement

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce a major milestone in the advancement of regulatory approvals for the 100% owned Rook I Project ("Rook I" or the "Project") with the submission of the draft Environmental Impact Statement ("EIS") to the Saskatchewan Ministry of Environment ("ENV") and the Canadian Nuclear Safety Commission ("CNSC"). The EIS submission included letters of support for the Project from each of the Clearwater River Dene Nation (CRDN), Birch Narrows Dene Nation (BNDN), and Buffalo River Dene Nation (BRDN), which all have also endorsed the Project through the execution of Benefit Agreements with NexGen covering the entire lifespan of the Project.

(CNW Group/NexGen Energy Ltd.)

The submission of the draft EIS follows the Provincial and Federal Environmental Assessment (EA) processes that commenced in April 2019 following regulatory acceptance of NexGen's Project Description. The Project, located in the uranium rich district of Saskatchewan's southwestern Athabasca Basin, includes underground and surface facilities to support the mining and processing of uranium ore from the Arrow deposit.

Leigh Curyer, Chief Executive Officer commented: "The submission of the draft EIS is an exciting and significant milestone for NexGen, and we are proud to be working alongside our local Indigenous partners and all our stakeholders as we deliver on this generational opportunity for Saskatchewan and Canada . The draft EIS incorporates best practise in every aspect of the Project's elite environmental performance and is a culmination of many years of detailed data collection, analysis and design. Upon review and approval of the Environmental Assessment, the Rook I Project will deliver enormous economic, social, and community benefits, while being a major supplier of carbon-free base load energy fuel, highlighting Canada's leading environmental commitment to the world.

On behalf of everyone at NexGen, I would like to congratulate and thank all our valued partners with whom we have been working side by side. The communities where we operate, the government of Saskatchewan and Canada and their regulatory bodies, our valued employees, consultants and investors in accomplishing this unique milestone. The NexGen team is dedicated to the optimal delivery of the Rook I Project and ready for the next exciting phase of development."

Luke Moger , Vice President, Environment, Permitting & Licensing commented: "Conducting the biophysical and socio-economic assessments in support of developing the draft EIS highlights the elite environmental and social outcomes of the Rook I Project resulting from NexGen's long-term and disciplined planning approach. Key environmental design features such as the permanent underground storage of all tailings as engineered cemented backfill and the consolidation and optimization of the Project footprint reflect the commitment of the team and the integrated approach taken, including the incorporation of valuable feedback from local Indigenous Groups and communities.

We are excited to share our draft EIS with the experienced Provincial and Federal regulatory teams and welcome the transition to the next stage of the EA process, including the technical and public review that will be led by the Canadian Nuclear Safety Commission and Saskatchewan Ministry of Environment."

Draft EIS

NexGen conducted the EA pursuant to The Environmental Assessment Act of Saskatchewan and the Canadian Environmental Assessment Act, 2012 (collectively the "Acts"). The information and analysis conducted and submitted in the EIS represent the basis against which the environmental, social, and human health effects of the Project will be evaluated by the ENV and CNSC.

Since 2011, NexGen established an experienced team of subject matter experts and qualitied professionals across all aspects of the Project to conduct technical studies; engage with Indigenous Groups, communities, regulators, and public stakeholders; and prepare the EIS. The EIS represents the collection of reports that document NexGen's EA of the proposed Project and demonstrates the robust engagement undertaken over many years, the favorable geological setting of the Arrow deposit, NexGen's focused incorporation of environmental stewardship into the Project designs, and the generational positive long-term economic benefits the Project will provide to local communities, Saskatchewan , and Canada .

The draft EIS fulfills a key aspect of meeting Provincial and Federal requirements so that regulatory authorities can make an informed decision regarding Project approval. Data and analyses on the potential positive and adverse effects from the Project are included, as well as the mitigation measures and monitoring and management programs to be implemented by NexGen. Other important aspects of the EIS include the demonstration of meaningful engagement with affected Indigenous Groups, local communities, and the public, and the incorporation of Indigenous and Local Knowledge into the EA.

Engagement

In 2019, NexGen entered into Study Agreements with each of the Clearwater River Dene Nation ("CRDN"), Birch Narrows Dene Nation ("BNDN"), Buffalo River Dene Nation ("BRDN"), and Métis Nation – Saskatchewan (on behalf of Northern Region 2). NexGen has been working with local Indigenous Groups and communities since 2013, with the Study Agreements formalizing engagement approaches specifically designed to support participation in the EA process and providing capacity funding for engagement and retention of technical support. The Study Agreements also fully funded the completion of self-directed Indigenous Knowledge and Traditional Land Use Studies by each Indigenous Group that were valuable sources of information used by NexGen in conducting the EA.

In addition, NexGen has signed Benefit Agreements with the CRDN, BNDN, and BRDN to ensure provisions for ongoing engagement, financial and human resources to support Indigenous cultural and traditional values as well as environmental stewardship, employment, training, and economic development throughout the entire lifespan of the Project.

EIS Submission and Next Steps

With submission of the draft EIS, the ENV and CNSC have commenced their respective Provincial and Federal reviews.  Under the Provincial EA review process, the ENV has commenced their technical review of the EIS. Under the Federal EA review process, the CNSC is currently undergoing a conformance review of the EIS in advance of conducting parallel technical and public review.

Through a cooperative Provincial-Federal EA process, the ENV and CNSC will share information and work to reduce regulatory duplication, while providing a comprehensive EA process in accordance with the separate requirements that apply and must be satisfied with respect to the Acts, regulations, and guidelines in place for each of the respective jurisdictions.

NexGen – Delivering a Generational Project

To support the submission of the draft EIS, NexGen has launched "Delivering a Generational Project" – a 10-minute video on NexGen's team and innovative approach, and the unique characteristics of the Rook I Project.  The video can be found by visiting www.nexgenenergy.ca or www.saskatchewanuranium.ca

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 U 3 O 8 contained in 2.18 M tonnes grading 4.35% U 3 O 8 , Indicated Mineral Resources of 47.1 M lbs of U 3 O 8 contained in 1.57 M tonnes grading 1.36% U 3 O 8 , and Inferred Mineral Resources of 80.7 M lbs of U 3 O 8 contained in 4.40 M tonnes grading 0.83% U 3 O 8 .

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.

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 .

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/nexgen-announces-submission-of-the-rook-i-project-environmental-impact-statement-301571741.html

SOURCE NexGen Energy Ltd.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/June2022/21/c9334.html

News Provided by Canada Newswire via QuoteMedia

NXE:CA,NXE
The Conversation (0)
Fission Uranium: Developing the High-Grade Triple R Uranium Deposit in the Athabasca Basin

Fission Uranium: Developing the High-Grade Triple R Uranium Deposit in the Athabasca Basin

Fission Uranium (TSX:FCU,OTCQX:FCUUF) offers investors an entry opportunity to take advantage of the potentially bullish uranium market and demand for nuclear energy. The company is developing the high-grade Triple R uranium deposit within its PLS property in Saskatchewan’s renowned Athabasca Basin uranium district. The Triple R deposit is known for its sizable high-grade uranium mineralization that is accessible at just 50 meters from surface. It is the only major, undeveloped deposit in the Basin at which the high-grade core begins close to surface.PL

Fission Uranium’s PLS project is positioned as potentially one of the world’s lowest OPEX uranium projects.

Keep reading...Show less
Text saying "Uranium Night" superimposed over band playing music.

Uranium Night at PDAC Raises $10,000 for Charity

At this year’s Uranium Night at the Prospectors & Developers Association of Canada (PDAC) convention, the event's sponsors secured a $10,000 donation for the charity Haven Family Connections.

With the uranium sector having its hottest season in years, there was much to celebrate at the event, which was held on March 4 at the Lucky Clover Irish Pub in Toronto. Early in the year, the uranium spot price broke through the US$100 per pound level for the first time since 2007, rising to a 16 year high of US$106 as demand continued to outpace supply.

Although the price has since pulled back to the US$90 level, industry experts still predict a bright future for the energy commodity as countries around the world pursue nuclear power as a strategy for meeting clean energy goals.

Keep reading...Show less

Laramide Outlines 2024 Australian Exploration Plans

Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce 2024 work plans for Australia which include a large drill campaign of up to 12,000m across multiple targets at the Westmoreland Uranium Project in NW Queensland and into the Murphy Uranium Project in the Northern Territory. Two drill rigs have been secured and logistical plans are well advanced for a campaign that will build on last year's successful exploration effort which saw 40 holes completed across 4,000 cumulative meters. Drilling is expected to commence in approximately 6-8 weeks' time at the conclusion of the current wet season.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
GTI Energy

GTI Energy


Keep reading...Show less
Curtis Moore, nuclear reactors.

Energy Fuels: Uranium's Moment Has Arrived, Now it's Time to Capitalize

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Curtis Moore of Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) weighed in on uranium market dynamics, from supply and demand to prices.

He also discussed how Energy Fuels is navigating the sector given today's much-improved dynamics.

"These are great (price) levels for us as a uranium producer. We can profitably produce uranium at these levels," he said. "And so again, this is something we've been waiting for for a long time now. It's time to capitalize."

Keep reading...Show less
Nuclear reactors at dusk.

Kazatomprom Reports 2023 Financial Results, Warns of Uranium Supply Shortfall

Major mining company Kazatomprom (LSE:KAP,OTC Pink:NATKY) released its financial results for 2023 this past Friday (March 15), showing a strong response to much-improved uranium market dynanics.

The company's consolidated revenue grew by KZT 1,434,635 million (US$3.19 billion), up 43 percent from 2022.

This robust performance was influenced by various factors. Firstly, the uranium sector experienced an overall improvement, with the average annual price increasing by slightly over 20 percent in 2023. The period was significant for the industry as a whole, with the commodity hitting 15 year highs and closing the year at US$90 per pound.

Keep reading...Show less

Global Atomic Reports on the Announcement by Niger to terminate Military Cooperation with the United States

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) reports that the Republic of Niger announced its intention to terminate its military cooperation agreement with the United States which has a large military base in Niger.  It remains unclear if a withdrawal of US troops will be required by Niger as the US military base is used to patrol a larger section of the Sahel region beyond Niger's borders.

Global Atomic - TSX30 - OTC (CNW Group/Global Atomic Corporation)

Stephen G. Roman , President and CEO commented, "With the situation in Niger being fluid, in addition to current advanced discussions with project lenders, the Company is also pursuing other financing strategies to meet its project funding requirements.   Given strong third-party interest in Global Atomic's high-grade uranium project and our plans for near-term production, there are many groups interested in funding the Dasa Project.  The Company will assess these options, monitor events in Niger and keep shareholders appraised."

About Global Atomic

Global Atomic Corporation ( https://www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company's Uranium Division has identified three additional deposits in Niger additional to the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration. With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger , the Dasa Project is fully permitted for commercial production. Mine excavation began in Q1 2022, and commissioning of the processing plant is expected at the end of 2025/ beginning 2026.

Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .

The information in this release may contain forward-looking information under applicable securities laws.  Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks.   Generally, forward-looking statements can be identified by forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved".  All information contained in this news release, other than statements of current or historical fact, is forward-looking information.   Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management at the date such statements are made.  Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance upon forward-looking statements.  Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law.  Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.

Global Atomic Corporation (CNW Group/Global Atomic Corporation)

SOURCE Global Atomic Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/18/c4759.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×