GoviEx Uranium Letter to Stakeholders

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx" or "Company") today provides a letter to stakeholders from the Executive Chairman, Govind Friedland and the Chief Executive Officer, Daniel Major.

To Our Fellow Stakeholders,

2022 was an incredibly busy year that saw us move closer to our goal of becoming a uranium producer. We would like to reflect on those achievements and to thank you, our stakeholders, for your support over the last 12 months.

Climate change issues are intensifying and there is growing recognition that nuclear energy remains a key part of the solution to achieve net zero. The uranium industry follows this momentum, however increased demand is not met due to a lack of new entrants in the industry, harder permitting environments, the depletion of secondary supply, geo-political tensions and a demand for security of supply and diversification from off-takers. This puts us in an advantageous position, as we are fully permitted, operating in mining friendly jurisdictions, with a multi-project pipeline and with production scheduled to start when there is an expected supply deficit in the market.

Over the last 12 months, we have delivered transformational changes. Firstly, we published the Feasibility Study for our Madaouela project in Niger,whichholds one of the largest uranium resources in the world, with 100 million pounds of U3O8 in Measured and Indicated mineral resources, plus inferred resources of 20 million pounds of U3O8. This mine permitted project has the potential to exceed 2.6 million pounds of U3O8 per year over a 20-years mine life. The Feasibility Study1 confirmed the strength of our project and its ability to deliver good economic results at a time when inflationary pressures are having a significant impact on the development of new projects and operating mines.1

Following the delivery of our Feasibility Study, we have proceeded to engage with a number of financial institutions, supported by our debt advisors Endeavour Financial, for project related debt financing. We are delighted with the initial results yielding a preliminary short-list of approximately 20 institutions who will now move forward with the detailed due diligence phase. These initial results are very encouraging and underline the strong potential to source debt financing for the Madaouela project.

Our Muntanga project in Zambia2 has seen an ambitious field program which included 15,500 meters of infill drilling, with an aim to upgrade the Project's Dibbwi East resource from Inferred to Indicated category.4 We also commissioned 9,000 meters of diamond drilling to obtain core samples for uranium assays that are being used for confirmatory metallurgical testwork.5

We have also started to update Muntanga's ESIA and Relocation Action Plan, and will now aim to deliver a Feasibility Study for this project in 2024.

At Falea in Mali, we undertook a diamond drilling program that totalled 6,002 meters of NQ sized diamond core over 12 drill holes. The IP data showed targets with a strong correlation with known uranium mineralization, which means we now have a clear roadmap of targets for the future.

Falea is a highly compelling and prospective polymetallic uranium, copper and silver3 deposit with surrounding gold6, and we are pleased to have entered into an agreement with African Energy Metals Inc. for its sale as part of a US$5.5 million deal (plus an NSR), which will allow us to maintain a significant interest in the Falea project whilst allowing the Company to concentrate its efforts and funding on the continued exploration and development of the Madaouela and Muntanga projects.7

The last 12 months also saw the publication of our first ESG report, which is compliant with SASB, IFC and GRI standards and showcases our continued commitment to mitigating long-term impacts to the environment while progressing the interests of all our stakeholders.8

ESG has always been an important part of how we operate and we are very much focused on continuing to build a more sustainable future for our Company. We are committed to making a positive impact for our stakeholders and to harnessing technology to minimize our environmental impact. We remain focused on doing business ethically and providing a safe work environment for our employees and contractors. We are confident that our past, present, and future commitment towards ESG makes us a stronger company for all current and potential employees, investors, lenders, off-takers and the communities where we operate.

We have delineated a clear strategy focused on the financing of the Madaouela project, continued discussions with off-takers and to advance towards becoming a producer, while continuing to develop Muntanga and benefiting from the potential exploration upside at Falea.

We are truly grateful for our employee's support and hard work in all the jurisdictions where we operate, and for the continuous support from the neighboring communities and all levels of government in these countries.

On behalf of management and the Board, thank you for your support.

Kindest regards,

Govind Friedland and Daniel Major

Qualified Person
The scientific and technical information in this release has been reviewed and approved by Dr. Rob Bowell, a chartered chemist of the Royal Society of Chemistry, a chartered geologist of the Geological Society of London, and a Fellow of the Institute of Mining, Metallurgy and Materials, who is an independent Qualified Person under the terms of NI 43-101 for uranium deposits. Mr. Bowell has verified the data disclosed in this news release.

Notes:
(1) See the technical report titled, "A feasibility Study for the Madaouela Uranium Project, Niger" dated effective 01 November, 2022, that is available at GoviEx's profile on SEDAR at www.sedar.com.
(2) See the technical report titled, "NI 43-101 Technical Report on a Preliminary Economic Assessment of the Mutanga Uranium Project in Zambia", dated November 30, 2017 (the "PEA"). The PEA was prepared by Qualified Persons from SRK Consulting (UK) Limited.
The PEA is considered preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Mineral Resources that are not Mineral Reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all, or any part of an Inferred Mineral Resource, will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration or Mineral Reserves once economic considerations are applied; therefore, there is no certainty that the production profile concluded in the PEA will be realized.
(3) See the technical report titled, "Technical Report on the Falea Uranium, Silver and Copper Deposit, Mali, West Africa" prepared by Roscoe Postle Associates Inc. for Denison Mines Corp., October 26, 2015.
(4) See news release dated February 3, 2022, October 31, 2022
(5) See news release dated June 30, 2022
(6) See news release dated October 31, 2022
(7) See news release dated January 18, 2023
(8) See news release dated October 4, 2022

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

About GoviEx Uranium Inc.
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Contact Information
Isabel Vilela
Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Forward-looking statements include those related to: (i) the timing of completion, if at all, of the updated Muntanga ESIA and Relocation Action Plan, and Feasibility Study for this project in 2024; (ii) continued commitment to mitigating long-term impacts to the environment while progressing the interests of its all our stakeholders; (iii) the method and timing of any exploration, development and/or mining operations at any of GoviEx's projects; (iv) future commitment towards ESG; (v) the ability for the Company to finance the development of the Madaouela project; and (vi) GoviEx's ability to benefit from a strengthening uranium market.

Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be successful in its exploration and development plans for all its projects; (ii) that projected low capital expenditures for the mine-permitted projects will remain unchanged or improve; (iii) that the planned exploration and development programs on GoviEx's projects will be completed as planned and meet GoviEx's objectives; (iv) that the Company will be able to complete its planned ESG work as planned ;and (v) that the price of uranium will remain sufficiently high and the costs of advancing the Company's projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) the inability of the Company to successfully complete the exploration and development plans; (ii) potential delays due to COVID-19 restrictions; (iii) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (iv) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (v) an increase in the Company's operating costs above what is necessary to sustain its operations; (vi) accidents, labour disputes, or the materialization of similar risks; (vii) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; and (viii) generally, the Company's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2021, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153240

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GoviEx Uranium Statement on Recent Coup in Niger

GoviEx Uranium Statement on Recent Coup in Niger

In light of the recent coup d'état in Niger, GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) wishes to assure its stakeholders, partners, and the people of Niger of the following:

GoviEx's operations in Niger remain unaffected by the current situation. We are committed to ensuring that our activities continue as normal, both at our Project site and our office in Niamey.

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GoviEx Announces Substantial Increase of Open-Pit Mineral Resources at Its 100% Owned Muntanga Uranium Project in Zambia

GoviEx Announces Substantial Increase of Open-Pit Mineral Resources at Its 100% Owned Muntanga Uranium Project in Zambia

  • Measured & Indicated resources nearly tripled, now representing 74% from 29% of total resources.
  • Total in-pit constrained resources increased 18%.
  • Grade improvement in all mineral categories.
  • Current drilling targeting further potential in pit resource upgrade to measured and/or indicated.
  • Results fully support continued feasibility study.

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx or the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for its wholly owned, mine permitted Muntanga Uranium Project in Zambia (the "Muntanga Project"). The Muntanga Project consists of three mining permits that cover some 720km2, and contains five deposits: Dibbwi, Dibbwi East, Muntanga, Gwabi and Njame.

Daniel Major, CEO of GoviEx commented: "Our drilling campaigns in 2021 and 2022 have led to a significant update in the Muntanga mineral resource estimate. This progress is characterized by a notable growth in in-pit resources, a substantial conversion of inferred resources into the Indicated category, and an overall rise in uranium grades. What's more exciting is that this upward trajectory in resource growth persists even under lower uranium prices, such as the USD50/lb used in our Preliminary Economic Assessment( PEA)1. There is also additional potential for further upgrading of inferred resources, thereby expanding the resources that can be included in the feasibility study. These are very promising results and will be integrated into our ongoing feasibility study."

The 2023 updated MRE is the result of extensive infill drilling, including 8,010 metres drilled in 2021 and a further 19,990 metres drilling in 2022, predominately on the Dibbwi East deposit, to further delineate the deposit and convert inferred resources to the indicated category. The mineral resource update included a comprehensive reassessment of previous work and a revised correlation between down-hole radiometric probe data and chemical assays used to convert down-hole radiometric data into equivalent uranium grades (eU3O8) for mineral resource estimation.

Table 1.0 Comparison between 2017 & 2023 Constrained Mineral Resource Estimates

Constrained Mineral Resource Constrained Mineral Resource % Change
20172023
Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb) Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb) Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb)
Measured & Indicated 16.1735312.5942.5935933.7163%2%168%
Inferred 38.8229425.1614.9533010.88-61%12%-57%

 

Based on the USD50/lb U3O8, used to define the mining schedule in the 2017 PEA, constrained total pit resources are 36.5 Mlb eU3O8, comprising 34 Mt at 374 ppm eU3O8 for 28.4 Mlb in measured and indicated and 11 Mt at 348 ppm eU3O8 for8.1 Mlb of inferred, highlighting the robustness of the mineral resources at Muntanga. With the quality of the resource estimate improved, higher M&I, higher grade and a notable increase in estimated resources within the constrained open-pit area, we are optimistic that the updated MRE will be favourable to the project economics previously estimated for Muntanga in the PEA, and especially as the ongoing drilling is targeting conversion of more inferred resources into indicated resources.

As per the regulations applicable in 2017 when the Company released its NI 43-101 Technical Report1, the MRE reported did not need to be constrained by pit shells based on any particular uranium price, as almost all mineralisation at the time occurred within 125 m of surface with uranium grades that were, in general, considered to have a reasonable prospect for eventual economic extraction ("RPEEE") by open pit mining. The cut-off grade used for reporting the 2017 MRE was 100 ppm eU3O8.

The 2023 MRE is disclosed including an additional constraint applied to comply with the RPEEE and is accordingly reported within a constraining open-pit shell based on a uranium selling price of USD70/lb U3O8 and a 100 ppm eU3O8 cut-off grade. The updated 2023 MRE is presented in Table 3.0.

To facilitate a comparison between the 2023 and 2017 MRE, Table 2.0 below provides an assessment on the impact of a constraining open-pit shell based on uranium selling price of USD70/lb U3O8 and a 100 ppm eU3O8 cut-off grade on the 2017 MRE.

Table 2.0 Comparison of 2017 unconstrained and constrained mineral resources

Unconstrained Mineral Resource
2017
Constrained Mineral Resource
2017
Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb) Tonnes (Mt)eU3O8 Grade (ppm)eU3O8 (Mlb)
Measured & Indicated21.631815.116.235312.6
Inferred74.627344.938.829425.2

 

The 2017 constrained mineral resources are based on a fixed uranium price, and should uranium prices increase, a conversion of additional material into a constrained mineral resource would be anticipated.

Based on the drilling completed in 2021 and 2022, an updated mineral resource estimate has been prepared by SRK Consulting (Canada) Inc. ("SRK"). The Mineral Resource is that portion of the resource estimate which has been constrained within an open-pit shell, considering reasonable mining, processing and general and administrative cost, geotechnical parameters and processing recoveries. SRK considers that the material reported as a Mineral Resource fulfils the requirement by the CIM Guidelines of having a RPEEE through open pit mining.

A summary of the Mineral Resources for all deposits comprising the Muntanga Project are presented in Table 3.0 below.

Table 3.0Mineral Resource Statement*, Muntanga Uranium Project, Zambia, effective date of March 31, 2023

ClassificationDepositTonnesU3O8 GradeU3O8
(Mt)(ppm)Mlb
MeasuredGwabi1.12540.6
Njame2.23741.8
IndicatedMuntanga7.53605.9
Dibbwi3.12551.8
Dibbwi East25.237420.8
Gwabi2.73742.2
Njame0.83210.6
     Total M&I42.635933.7
InferredMuntanga4.03192.8
Dibbwi0.62500.3
Dibbwi East9.13446.9
Gwabi0.22790.1
Njame1.13260.8
     Total Inferred15.033010.9

 

*Notes:

  1. The effective date of the mineral resource statement is March 31, 2023. The QP for the estimate is Cliff Revering, P.Eng., an employee of SRK Consulting (Canada) Inc.
  2. Mineral resources are prepared in accordance with CIM Definition Standards (CIM, 2014) and the CIM estimation of Mineral Resources and Mineral Reserves Best Practise Guidelines (CIM, 2019).
  3. Mineral Resources are reported at a cut-off grade of 100 ppm eU3O8.
  4. Mineral resources are constrained within an optimized pit shell using a uranium price of USD70/lb U3O8, mining costs of USD2.90/t, processing costs of USD8.00/t ore, additional ore mining costs of USD0.50/t ore, G&A costs of USD1.50/t ore, royalty of 5% on U3O8 price and a discount rate of 8%.
  5. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves in the future.
  6. All figures have been rounded to reflect the relative accuracy of the estimate.

Analysis of the open-pit shell used to constrain the MRE highlights that there are still inferred category mineral resources that have the potential to be converted to indicated resources with additional drilling. That would enable them to be included in the economics related to any future feasibility study, as the examples below indicate. This work is currently under way as part of this year's previously announced drilling program.

Figures 1&2: Sections from Dibbwi East showing resource classification and MRE Shell

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Fig 1

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Fig 2

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Figure 3 - Dibbwi East drillhole and cross-section location map

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Fig 3

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In conclusion, the updated MRE for the Muntanga Project is a testament to GoviEx's strategic focus and commitment to maximizing the potential of its vast resource base. As the only uranium developer with two African projects ready to begin development and near-term production, GoviEx is well placed to benefit from future growth.

Qualified Person Statement
The technical information and associated data in this release has been reviewed, verified and approved by Cliff Revering, P.Eng., who is an independent Qualified Person under the terms of NI 43-101 for uranium deposits.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About GoviEx Uranium Inc.
|GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Contact Information
Isabel Vilela, Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: info@goviex.com Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be successful in its exploration and development plans for all its projects; (ii) that projected low capital expenditures for the mine-permitted projects will remain unchanged or improve; (iii) that the planned exploration and development programs on GoviEx's projects will be completed as planned and meet GoviEx's objectives; and (iv) that the price of uranium will remain sufficiently high and the costs of advancing the Company's projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) the risk that the Company may not be able to fully realize the anticipated benefits of the updated MRE and the conversion of inferred resources to indicated resources; (ii) the risk that the ongoing feasibility study may not yield the expected results; (iii) the risk that the current drilling program may not result in further potential resource upgrades; (iv) potential delays or changes in the Company's development plans due to various factors, including COVID-19 restrictions; (v) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (vi) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (vii) an increase in the Company's operating costs above what is necessary to sustain its operations; (viii) accidents, labour disputes, or the materialization of similar risks; (ix) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; and (x) generally, the Company's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2022, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.


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GoviEX Uranium Files Annual Information Form

GoviEX Uranium Files Annual Information Form

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx" or the "Company"), a mineral resource company specializing in uranium exploration and development in Africa, announces that further to the filing of its audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2022, it has today voluntarily filed its Annual Information Form for the year ended December 31, 2022. These filings can be found on the Company's website at www.goviex.com and under the Company's SEDAR profile at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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GoviEx Sponsors Barefoot College International's Solar Project in Niger to Support Local Communities

GoviEx Sponsors Barefoot College International's Solar Project in Niger to Support Local Communities

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx" or the "Company") is proud to announce its sponsorship of Barefoot College International's Solar Project in Niger.

This groundbreaking initiative is dedicated to empowering rural women without formal education through comprehensive training in solar technology installation and maintenance, livelihoods development and a holistic women's empowerment curriculum. By fostering self-sufficiency, promoting livelihood development, and ensuring environmental sustainability, the Solar Project aims to enhance the quality of life for individuals living in rural areas.

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GoviEx Uranium Provides Update on the Sale of the Falea Exploration Project

GoviEx Uranium Provides Update on the Sale of the Falea Exploration Project

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx" or the "Company"), a mineral resource company specializing in uranium exploration and development in Africa, announces that the agreement with African Energy Metals Inc. ("AEM") for AEM's acquisition of all the issued and outstanding shares of GoviEx's wholly-owned Malian subsidiary, Delta Exploration Mali SARL ("Delta"), which holds the Falea project in Mali, has been terminated due to the fact that AEM was unable to complete its obligations for closing.

In light of this development, GoviEx retains ownership of the Falea project. GoviEx's primary focus is to concentrate its resources on the development of its two advanced-stage mine-permitted projects, namely Madaouela in Niger and Muntanga in Zambia.

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Cameco Announces $500 Million Debenture Offering by Private Placement

All amounts in Canadian dollars unless specified otherwise

NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH U.S. NEWS OR WIRE SERVICES

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NexGen Advances Federal Environmental Assessment Process Through Submission of Responses to Remaining Information Requests

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that on May 21 st the Company is submitting to the Federal regulator the Canadian Nuclear Safety Commission ("CNSC") responses to the remaining 49 technical review comments received on February 12, 2024 as part of the Federal Environmental Assessment ("EA") review process for the Company's 100% owned Rook I Project (the "Project").

NexGen Energy Ltd. Logo (CNW Group/NexGen Energy Ltd.)

The 49 technical comments represent the remaining aspects of the original 274 questions received from the CNSC from their technical review of the Rook I Project Draft Environmental Impact Statement ("EIS") submitted by NexGen in June 2022 . As part of this submission, NexGen has also submitted a revised Federal EIS to the CNSC as part of the response process.

Leigh Curyer, NexGen's Chief Executive Officer, commented: "The Company received Provincial EA approval in November 2023 and then submitted responses to the full Federal technical review comments and received ~80% accepted in round 1.  The submission of these remaining 49 responses represents another significant milestone in the final advancement of the Federal EA for the Rook I Project.

The NexGen team commends the rigour and diligence of the Federal EA process which formally began 5 years ago with the submission of the Project Description – as it validates the technical robustness of the Project, which, once approved, will be the world's largest and lowest-cost uranium fuel producer, providing outstanding environmental, social, and economic benefits for current and future generations.

With NexGen's Federal Licence Application having been accepted by the CNSC in September 2023 , and full support and consent for the Project from the four local, Rights-bearing Indigenous Nation partners, we look forward to the successful conclusion of the Federal EA technical review process and the establishment of a Federal Commission Hearing date to conclude the approval process for this generational project, enabling construction and operation of this environmentally elite and fully supported green energy project."

All four Local Priority Area ("LPA") Communities – the Clearwater Dene Nation ("CRDN"), Birch Narrows Dene Nation ("BNDN"), Buffalo River Dene Nation ("BRDN"), and Métis Nation – Saskatchewan ("MN-S") on behalf of MN-S Northern Region 2 ("NR2") – have formally confirmed their consent and strong support for NexGen's stewardship of the Rook I Project through the signing of industry-leading Benefit Agreements. All four have fully signed off on all aspects of the Federal EA process required at this time and are advocating for its imminent approval.

In accordance with established Federal EA process, the CNSC will now conduct a completeness check of NexGen's most recent submission, which will be completed within 30 days. Upon conclusion of the completeness check, technical review of NexGen's comment responses and revised EIS will be undertaken by the CNSC through the Federal-Indigenous Review Team which is prescribed as 60 days. Upon confirmation from the CNSC that all technical comments have been resolved and acceptance of the EIS as final, the CNSC will establish a Federal Commission Hearing date.

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 .

www.nexgenenergy.ca

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 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 .

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/nexgen-advances-federal-environmental-assessment-process-through-submission-of-responses-to-remaining-information-requests-302151011.html

SOURCE NexGen Energy Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/21/c2461.html

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  Boss Energy

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Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to announce that First Quantum Minerals’ (TSE:FM) (First Quantum) maiden diamond drilling program on Honeymoon’s tenements in South Australia has successfully intersected basement-hosted base metal mineralisation below the Yarramba Palaeovalley which holds the uranium.

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“This new law reestablishes America’s leadership in the nuclear sector. It will help secure our energy sector for generations to come,” said National Security Advisor Jake Sullivan in a White House statement.

“And — building off the unprecedented US$2.72 billion in federal funding that Congress recently appropriated at the President’s request — it will jumpstart new enrichment capacity in the United States and send a clear message to industry that we are committed to long-term growth in our nuclear sector,” he continued.

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NexGen Closes C$224 Million CDI Offering in Australia

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that the Company has closed its previously announced offering (the " Offering ") of 20,161,290 common shares, settled in the form of CHESS Depository Interests (" CDIs "), at a price of C$11.11 per share (based on the daily average exchange rate of A$1.00 = C$0.8963 published the Bank of Canada on April 29, 2024 ), under an amended and restated placement agreement dated April 30, 2024 with a lead manager and bookrunner in Australia Aitken Mount Capital Partners.

NexGen Energy Ltd. Logo (CNW Group/NexGen Energy Ltd.)

The Offering was distributed to Australian investors to enhance the liquidity, trading volumes and market capitalization of the Company's CDIs listed on the ASX.

The net proceeds from the Offering will be used to fund the continued development and further exploration of the Company's mineral properties, and for general corporate purposes.

CDIs and underlying Shares have not been registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from the registration requirements thereof.

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.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Shares, or CDIs, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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, the volume, liquidity and market capitalization of the CDIs . 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.

Forward-looking information and statements are based on NexGen's current expectations, beliefs, assumptions, estimates and forecasts about its business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including, among others; the price of uranium; the cost of planned exploration and development activities; that, as plans continue to be refined for the development of the Rook I Project, there will be no changes in costs, engineering details or specifications that would materially adversely affect its viability; 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 and development activities will be available on reasonable terms and in a timely manner; that there will be no revocation of government approvals; that general business, economic, competitive, social and political conditions will not change in a material adverse manner; the assumptions underlying the Company's mineral reserve and resource estimates; assumptions made in the interpretation of drill results and other geological information; the ability to achieve production on the Rook I Project; other estimates, assumptions and forecasts disclosed in the Feasibility Study for the Rook I Project. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements were considered reasonable by management at the time they were made, there can be no assurance that such assumptions will prove to be accurate.

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, negative operating cash flow and dependence on third party financing; uncertainty of the availability of additional financing; price of uranium; the appeal of alternate sources of energy; exploration and development risks; uninsurable risks; reliance upon key management and other personnel; imprecision of mineral resource estimates; potential cost overruns on any development; pending assay results; changes in climate or increases in environmental regulation; aboriginal title and consultation issues; deficiencies in the Company's title to its properties; information security and cyber threats; failure to manage conflicts of interest; failure to obtain or maintain required permits and licenses; changes in laws, regulations and policy; changes in government policy; competition for resources and financing; volatility in market price of the Common Shares; potentially dilutive future financings; financial and uranium market reactions, as well as effects on individuals on which NexGen relies, as a result of global pandemics (including COVID-19); speculative nature of exploration and development projects; liquidity of securities of NexGen; dilution risks to existing securityholders; risks associated with the sale of securities of NexGen; inability to exploit, expand and replace mineral reserves and mineral resources, 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 and territories of Canada and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR+ at www.sedarplus.ca 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-closes-c224-million-cdi-offering-in-australia-302144478.html

SOURCE NexGen Energy Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/14/c7309.html

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Global Atomic Announces Q1 2024 Results

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