SaskPower, Westinghouse and Cameco Sign MOU to Explore Reactor and Fuel Supply Potential

Saskatchewan Power Corporation (SaskPower), Westinghouse Electric Company (Westinghouse) and Cameco Corporation (Cameco) (TSX: CCO; NYSE: CCJ) have signed a memorandum of understanding (MOU) to evaluate the potential of Westinghouse's nuclear reactor technology and the associated nuclear fuel supply chain required for Saskatchewan's future clean power needs.

The MOU will explore technical and commercial pathways to deploy Westinghouse's reactor technology, including the advanced AP1000® reactor and AP300™ small modular reactor (SMR), for long-term electricity supply planning. The framework includes evaluation of a Saskatchewan-based nuclear supply chain to support nuclear energy projects, including fuel. It also identifies opportunities to collaborate on nuclear research, development and workforce training in partnership with Saskatchewan's post-secondary institutions.

SaskPower is expected to make its final investment decision in 2029 whether to proceed with constructing Saskatchewan's first SMR facility. The utility intends to use Saskatchewan uranium in any reactor constructed in the province.

"Leveraging knowledge from organizations that have significant expertise in the nuclear industry is critical to ensure we make responsible, informed decisions around our power future," said Rupen Pandya, President and CEO of SaskPower. "Collaborating on nuclear fuel supply and evaluating various technologies will only serve to enhance our current small modular reactor development work and planning around workforce and the future of Saskatchewan's power system."

The AP1000 reactor is in operation in the U.S. and China, where it is setting operational performance and availability records. It has been selected for the nuclear energy programs in Poland, Ukraine and Bulgaria, and is also under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom (UK), India and North America.

The AP300 modular reactor is the only SMR based on an advanced, large Generation III+ reactor already in operation globally. Westinghouse is targeting design certification by 2027 and for first construction to begin by 2030, with the operating unit planned to be available in the early 2030s. The AP300 SMR has been selected by the UK's Great British Nuclear program and is under further customer consideration in Europe and North America.

"Westinghouse is proud to work with SaskPower to share our industry-leading nuclear technology expertise in support of the province's clean energy needs," said Patrick Fragman, Westinghouse President and CEO. "Our globally deployed advanced AP1000 reactor provides demonstrated superior economic performance and availability, and our AP300 small modular reactor is based on this proven and licensed technology. We look forward to helping SaskPower bring carbon-free electricity to Saskatchewan for generations to come."

"Cameco has a proud history and a significant presence in Saskatchewan, from our world-class uranium operations to our large and growing provincial workforce to our long-standing partnerships with northern Indigenous communities," said Tim Gitzel, President and CEO of Cameco. "We look forward to assessing the potential role Cameco and Westinghouse could play in decarbonizing Saskatchewan's power grid, an ambitious and important goal for the province's future."

About SaskPower

Recognized as one of Saskatchewan's Top Employers and one of Canada's Best Diversity Employers, SaskPower is the principal electrical utility for Saskatchewan, serving over a half million customers across an extensive geographic area. Founded in 1929, SaskPower is headquartered in Regina and employs over 3,000 employees across Saskatchewan. SaskPower is committed to enabling growth in the province and continuing economic reconciliation with Indigenous Peoples – winning several awards and achieving the Canadian Council for Aboriginal Business Progressive Aboriginal Relations (PAR) Gold Status multiple times.

About Westinghouse

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook , LinkedIn and Twitter .

About Cameco

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements and information about the expectations of SaskPower, Cameco and Westinghouse for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include: the expectation that under the MOU the parties will explore pathways to deploy Westinghouse's reactor technology, including evaluation of a Saskatchewan-based nuclear supply chain; expected opportunities to collaborate on nuclear research, development and workforce training with Saskatchewan's post-secondary institutions; the expected timing of SaskPower's final investment decision whether to proceed with constructing the SMR facility, and its intention to use Saskatchewan uranium in any reactor constructed in the province; SaskPower's expectation that collaboration will enhance its small modular reactor development work, and planning around workforce and the future of Saskatchewan's power system; the expected dates for design certification, commencement of construction and operating unit availability for the AP300 modular reactor; the anticipated ability of SaskPower to bring carbon-free electricity to Saskatchewan for generations to come; and the assessment of the role that Cameco and Westinghouse could play in decarbonizing Saskatchewan's power grid. Material risks that could lead to different results include: the risk that the MOU will not result in a successful exploration of pathways to deploy Westinghouse's reactor technology; the risk that expected opportunities to collaborate on nuclear research, development and workforce training with Saskatchewan's post-secondary institutions may not be realized; the risk that SaskPower's final investment decision regarding the SMR facility may not be made when expected; the possibility that SaskPower may not be able to use Saskatchewan uranium to the extent expected; the possibility that collaboration may not enhance SaskPower's small modular reactor development work and planning to the extent expected; the risk that expected dates for design certification, commencement of construction and operating unit availability for the AP300 modular reactor may not be achieved; the risk that SaskPower may not be able to provide carbon-free electricity to the extent expected; and the risk that Cameco or Westinghouse may not be able to play their expected roles in decarbonizing Saskatchewan's power grid. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about: our ability to work collaboratively to complete the evaluations and other goals of the MOU; SaskPower's ability to achieve its various expected target dates and utilize Saskatchewan uranium; and the ability of SaskPower to provide carbon free electricity to the extent expected, and of Cameco and Westinghouse to play their expected roles in decarbonizing Saskatchewan's power grid. Forward-looking information is designed to help you understand our current views, and it may not be appropriate for other purposes. We will not update this information unless we are required to by securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240616503146/en/

Inquiries

SaskPower:
Scott McGregor
media line: 306-536-2886
mediarelations@saskpower.com

Westinghouse:
Brian McCrone
445-289-0409
Brian.McCrone@westinghouse.com

Cameco (investor inquiries):
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com

Cameco (media inquiries):
Veronica Baker
306-385-5541
veronica_baker@cameco.com

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Cameco and Energoatom Agree on Commercial Terms to Supply Ukraine's Full Natural UF6 Needs through 2035

SE NNEGC Energoatom (Energoatom), Ukraine's state-owned nuclear energy utility, and Cameco Corporation (Cameco) (TSX: CCO; NYSE: CCJ), one of the largest global producers of uranium fuel based in Canada, have reached agreement on commercial terms for a major supply contract for Cameco to provide sufficient volumes of natural uranium hexafluoride, or UF ₆ (consisting of uranium and conversion services), to meet Ukraine's full nuclear fuel needs through 2035. Key commercial terms, such as pricing mechanism, volume and tenor, have been agreed to, but the contract is subject to finalization, which is anticipated in the first quarter of 2023.

"Energoatom will keep working on achieving the energy independence of Ukraine. The development of cooperation between companies in the production and supply of nuclear materials and nuclear fuel is one of the most important conditions for the further safe functioning of our domestic nuclear power generation," said Petro Kotin, President of Energoatom.

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Cameco and Brookfield Renewable Form Strategic Partnership to Acquire Westinghouse Electric Company

Currency: U.S. dollars unless otherwise stated

Westinghouse is an industry leader with a strong market position across the nuclear value chain
Nuclear power expected to see significant growth driven by energy security and decarbonization trends
Acquisition will provide opportunities to generate value and grow the business globally

Cameco Corporation ("Cameco") (NYSE: CCJ; TSX: CCO) and Brookfield Renewable Partners ("Brookfield Renewable") (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners ("the consortium"), are forming a strategic partnership to acquire Westinghouse Electric Company ("Westinghouse"), one of the world's largest nuclear services businesses.

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Baselode Intersects Best Drill Hole To Date, 25 Metres From Surface

AK22-051 intersected 2,320 cps over 30.1 m starting at 27.0 m drill hole depth, ranks as the best drill hole on the project, and includes six separate intervals of >10,000 cps*
AK22-047 intersected 5,229 cps over 7.35 m at 140.65 m , ranks as second-best drill hole on the project, and includes eight separate intervals of >10,000 cps

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (" Baselode " or the " Company ") is pleased to provide an update on the ongoing 20,000 metre diamond drilling program (the " Program ") on the ACKIO high-grade uranium discovery (" ACKIO "), Hook project (" Hook "), Athabasca Basin area (the " Basin "), northern Saskatchewan ( see Figure 1 and Table 1 ).

"We continue to hit mineralization at the overburden contact; within 25 m from surface. The mineralization from AK22-051 is the shallowest being drilled in the Basin. This rarity of near-surface mineralization with high levels of radioactivity sets Baselode apart from our peers as there's no other recent discovery this close to surface. Near-surface mineralization has been a key characteristic required for numerous Basin deposits going into production as open pit mines. Holes AK22-051 and AK22-047 are substantially the two best drill holes on ACKIO to date in terms of continuously elevated radioactivity. They also have the highest average levels of radioactivity, and each includes multiple discrete intersections with greater than 10,000 cps. We're excited to see ACKIO grow with near-surface mineralization, including consistently higher levels of radioactivity. AK22-051 remains open in all directions and AK22-047 remains open to the east," said James Sykes , CEO, President and Director of Baselode.

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Paladin Energy to Acquire Fission Uranium in C$1.14 Billion Deal

Australia's Paladin Energy (ASX:PDN,OTCQX:PALAF) has announced plans to acquire Saskatchewan-focused Fission Uranium (TSX:FCU,OTCQX:FCUUF) in a transaction valued at C$1.14 billion.

“The acquisition of Fission, along with the successful restart of our Langer Heinrich Mine, is another step in our strategy to diversify and grow into a global uranium leader across the top uranium mining jurisdictions of Canada, Namibia and Australia,” said Paladin CEO Ian Purdy in a press release on Monday (June 24).

Under the terms of the agreement, Paladin will acquire 100 percent of the issued and outstanding shares of Fission, while Fission shareholders will receive 0.1076 fully paid shares of Paladin for each Fission share that they hold.

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NexGen Advances Through Completeness Check for the Final Federal Environmental Assessment Process

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that on June 21, 2024 the Canadian Nuclear Safety Commission (" CNSC ") concluded their 30-day completeness check of NexGen's May 21, 2024 submission of responses to the remaining 49 technical review comments and revised Federal Environmental Impact Statement (" EIS ") for NexGen's 100% owned Rook I Project (" Rook I " or the " Project ").

The technical review by the CNSC has now commenced through the Federal-Indigenous Review Team, and upon confirmation that all technical review comments have been resolved after its prescribed 60-day review, the CNSC will then be able to deem the EIS final. When the EIS is deemed final, the CNSC will establish the Federal Commission Hearing date.

Leigh Curyer, NexGen's Chief Executive Officer, commented: "The Company continues to successfully advance through the Federal EA process which formally initiated in April 2019 . We look forward to the conclusion of the technical review process, for the Federal EIS to be deemed final, and the establishment of a Federal Commission Hearing date for the Rook I Project in order to deliver the significant generational benefits to the local Indigenous Nations, communities, the Province and Canada .

With the acceptance of the Federal licence application and receipt of Provincial EA approval in September and November 2023 , respectively – and broad-based support and advocacy from our valued stakeholders and local Indigenous Nation partners and communities – the team is ready to immediately commence major construction of this generational project upon receipt of remaining approvals. The detailed engineering and procurement activities continue along the critical path as do the significant local training programs underway for the future staffing requirements. Rook I represents a crucial clean fuel source that is fully in line with Government of Canada's critical minerals strategy and desire to be a leader in the provision of clean energy solutions including nuclear power and NexGen will be instrumental in global efforts to bring diversified, reliable, carbon-free energy to the world."

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 .

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 March 6, 2024 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.sedarplus.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 .

View original content to download multimedia: https://www.prnewswire.com/news-releases/nexgen-advances-through-completeness-check-for-the-final-federal-environmental-assessment-process-302179503.html

SOURCE NexGen Energy Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/24/c7705.html

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Drilling Update for Mkuju Project

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to announce that drilling at the Mkuju Project is progressing well. Highly mineralized intervals are observed in the core close to surface in 2 holes of the 4 completed. After the 5th hole the rig will commence drilling at the nearby Mtonya area to follow-up on the excellent historical intersections along the northwest side of the deposit which appears to be ‘open’. At the Likuyu North deposit, a 370 line-km ground magnetic survey is nearing completion – the data will guide the drill targeting aimed at identifying potential extensions or new zones.

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Contact information

Brookfield Renewable
Media:	Investors:
Simon Maine	Cara Silverman
+44 7398 909 278	+1 416-649-8196
simon.maine@brookfield.com	cara.silverman@brookfield.com

Cameco
Media:	Investors:
Veronica Baker	Rachelle Girard
306-385-5541	306-956-6403
veronica_baker@cameco.com	rachelle_girard@cameco.com

SaskPower, Westinghouse and Cameco Sign MOU to Explore Reactor and Fuel Supply Potential

Latest results support Boss’ strategy to significantly increase Honeymoon’s annual production capacity and mine life

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