Canadian Nuclear Safety Commission Approves NexGen Draft EIS to Proceed to Technical Review

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that on July 12, 2022 the Canadian Nuclear Safety Commission ("CNSC") announced their acceptance of the draft Environmental Impact Statement (the "EIS") which the Company completed submission of in June 2022 (see News Release dated June 21, 2022 ). The acceptance of the draft EIS for NexGen's 100% owned Rook I Project ("Rook I" or the "Project") located in Saskatchewan's southwestern Athabasca Basin follows a 30-day period during which the CNSC conducted a conformance review of the draft EIS submission and confirmed no comments or conditions.  Further, the acceptance marks the formal commencement of the 90-day period during which the CNSC will coordinate both the Federal technical and public review of the draft EIS.

Leigh Curyer, Chief Executive Officer commented: "The CNSC's acceptance of the Rook I Project's draft EIS is a significant step, transitioning the Project into the Federal EIS technical and public review phase, incorporating rigorous and transparent Provincial and Federal EA review processes. NexGen's approach to all aspects of the EIS compilation and completion with respect to inclusive Indigenous and community engagement, incorporating elite environmental mine designs and its transparent engagement with regulators and governments is a credit to the team and community stakeholders. On behalf of everyone at NexGen, I would like to thank all of our valued stakeholders for their commitment and dedication to this multi-generational Rook I Project.

The magnitude of generational positive impact benefits to materialize with the safe advancement of this project, starting with local communities and concluding with the avenue to return Canada to leading the world in the provision of clean air energy fuel, has no peer."

The EIS represents the collection of reports that document NexGen's environmental assessment ("EA") of the Project. NexGen conducted the EA pursuant to The Environmental Assessment Act of Saskatchewan and the Canadian Environmental Assessment Act, 2012 . 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 Saskatchewan Ministry of Environment ("ENV") and the CNSC. In parallel to the CNSC-led federal review, the ENV is currently coordinating a technical review of the draft EIS, which is scheduled to conclude in Q3 2022.

The EIS and the EIS Master Executive Summary can both be found at www.saskatchewanuranium.ca or www.nexgenenergy.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 Jason Craven , P.Geo, NexGen's Manager, Exploration, 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: https://www.prnewswire.com/news-releases/canadian-nuclear-safety-commission-approves-nexgen-draft-eis-to-proceed-to-technical-review-301587279.html

SOURCE NexGen Energy Ltd.

Cision View original content: https://www.newswire.ca/en/releases/archive/July2022/15/c9412.html

News Provided by Canada Newswire via QuoteMedia

NXE:CA,NXE
Forte Minerals

Forte Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Forte Minerals (CSE: CUAU)

Forte Minerals


Keep reading...Show less
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

New to the Investing News Network

Here at the Investing News Network our mission is twofold; to provide the latest news and quality education by helping you identify investment opportunities in niche markets, and helping leading companies communicate their value to investors.

Connecting investors with opportunities is what we do best. We are proud to present several companies which are new to the Investing News Network.

Keep reading...Show less

NexGen Closes US$110 Million Strategic Convertible Debenture Financing

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that it has closed its previously announced non-brokered private placement (the " Offering ") of US$110 million aggregate principal amount of unsecured convertible debentures (the " Debentures ") with Queen's Road Capital Investment Ltd. (" QRC ") and Washington H Soul Pattinson and Company Limited (" WHSP ").

NexGen currently has cash reserves of C$330 million .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
GTI Energy

GTI Enters Into At-The-Market Finance Facility

GTI Energy Ltd (ASX: GTR) (GTI or Company) is pleased to advise finalisation and entry into an At- the-Market (ATM) Financing Deed with 8 Equity Pty Ltd (Financier). The ATM facility provides the Company with up to $2,000,000 of standby equity capital over the coming 3-year term (Term).

Keep reading...Show less

Global Atomic Corporation Included in the TSX30

Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to announce that the Company has been included on the Toronto Stock Exchange ("TSX") rankings for the 30 best stock price performances over the last three years. The TSX30, established in 2019, is an annual ranking of the 30 top-performing stocks over a three-year period ending June 30, 2023 based on share price appreciation.

Global Atomic President and CEO, Stephen G. Roman commented "We are very proud of our Team and the work we have done to advance the Dasa Project since its discovery in 2010. Receiving this acknowledgement from the Toronto Stock Exchange and being included in the TSX30 is a major recognition of all the hard work our Team has accomplished over the past 3 years advancing this world class asset. While more recent share price performance has reflected the uncertainty about the outcome of political issues in Niger , the fundamentals of the Dasa Project continue to improve as we advance our production milestones.  We are confident the Dasa Mine will soon become the highest-grade and lowest-cost uranium mine in Africa . We thank all shareholders who have supported us over the last three years and continued to do so during these recent events."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
laptop with graph and the acronym "etf"

Uranium ETFs: An Emerging Market Opportunity (Updated 2023)

Exchange-traded funds (ETFs) are one of the fastest-growing investment vehicles, and as uranium's rebound continues to build, investors are becoming increasingly interested in uranium ETFs and related products.

The uranium spot price has climbed in Q2 and Q3 on supply risks and a bullish outlook for long-term demand. Whether it will continue to strengthen is uncertain, but those with a positive view of the market think it will happen — supporting factors include the lack of new uranium mines coming online, Russia’s dominance in uranium conversion and enrichment, rising demand for low-carbon energy sources and the continued development and deployment of small modular reactors.

There is also increasing demand for uranium from China and India as both these countries grapple with air pollution in the face of growing electricity demand. China is working to expand its nuclear power capacity, and although it ranks among the top 10 uranium-producing countries, the Asian nation relies heavily on uranium imports to meet its nuclear fuel demand.

Keep reading...Show less
blocks with uranium periodic symbol

5 Top Weekly TSXV Stocks: Standard Uranium Takes the Lead with 50 Percent Gain

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell last week, finishing the shorter four day period at 580.84.

On Friday (September 8), Statistics Canada reported that Canada's economy added 39,900 jobs, about twice as many as expected. However, because 103,000 new people entered the country, the employment rate declined by 0.1 percentage points.

"Canada now needs a steady flow of jobs just to match raging population growth," Bank of Montreal (TSX:BMO,NYSE:BMO) economist Doug Porter told CBC when the statistics were announced. "Thus, it's not inconsistent to see a sturdy monthly gain of 40,000 jobs and still conclude that the market is slightly easing."

Keep reading...Show less
Toro Energy

Successful A$4.5 Million Placement

Toro Energy Limited (Toro or the Company) is pleased to announce that it has secured firm commitments for a A$4.5 million placement (before costs) comprising the issue of 450,000,000 new fully-paid ordinary shares in the capital of the Company (Placement). The Placement was well supported by new and existing institutional, sophisticated and professional investors.

Keep reading...Show less
Forte Minerals

Forte Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×