Energy

Cameco, GE Hitachi, GEH SMR Canada and Synthos Green Energy to Collaborate on Potential Deployment of BWRX-300 Small Modular Reactors in Poland

Cameco (TSX: CCO; NYSE: CCJ), GE Hitachi Nuclear Energy (GEH), GEH SMR Technologies Canada, Ltd. (GEH SMR Canada) and Synthos Green Energy (SGE), a member of the Synthos Group S.A., have entered into a Memorandum of Understanding (MOU) to evaluate the potential establishment of a uranium fuel supply chain in Canada capable of servicing a potential fleet of BWRX-300 small modular reactors (SMRs) in Poland.

Synthos, a manufacturer of synthetic rubber and one of the biggest producers of chemical raw materials in Poland, is interested in obtaining affordable, on-demand, carbon-free electricity from a dependable, dedicated source. In 2019 SGE and GEH agreed to collaborate on potential deployment applications for the BWRX-300 in Poland. SGE and GEH signed a strategic agreement in 2020 that further advanced the cooperation.

Cameco supplies uranium, uranium refining and conversion services to the nuclear industry worldwide. In July 2021, Cameco, GEH and Global Nuclear Fuel-Americas (GNF-A) agreed to explore several areas of cooperation to advance the commercialization and deployment of BWRX-300 SMRs in Canada and around the world.

"We believe nuclear energy will play a major role in helping countries and companies around the world achieve their net-zero emission targets," said Cameco president and CEO Tim Gitzel. "This MOU is a great example of the kind of innovative solutions businesses like Synthos Green Energy are exploring and how SMRs could contribute to industry-driven efforts to decarbonize."

"We look forward to working with Cameco and GEH in understanding the uranium requirements for a fleet of BWRX-300s in Poland and the support that Canada has to offer," said Rafał Kasprów, President of the Board of SGE. "In addition to this MOU, SGE is working closely with GEH to identify supply chain opportunities in Poland that complement the export capabilities being developed in Canada for the BWRX-300, which could enable us to successfully deliver carbon-free electricity to the grid."

"GEH is honored to be working with Cameco and Synthos Green Energy to deploy the BWRX-300," said Jay Wileman, President & CEO, GEH. "Through our collaboration we look forward to the opportunity to bring carbon-free energy generation to Poland and support the creation of valuable uranium supply jobs in Canada."

The BWRX-300 is a 300 MWe water-cooled, natural circulation SMR with passive safety systems that leverages the design and licensing basis of GEH's U.S. NRC-certified ESBWR. Through dramatic and innovative design simplification, GEH projects the BWRX-300 will require significantly less capital cost per MW when compared to other SMR designs. By leveraging the existing ESBWR design certification, utilizing the licensed and proven GNF2 fuel design, and incorporating proven components and supply chain expertise, GEH believes the BWRX-300 can become the lowest-risk, most cost-competitive and quickest to market SMR.

This MOU is non-exclusive and non-binding.

Profile

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. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: the intention of Cameco, GEH, GEH SMR Canada and SGE to evaluate the potential establishment of a uranium fuel supply chain in Canada capable of servicing SMRs in Poland; SGE's interest in obtaining affordable, on-demand, carbon-free electricity; the ability of Cameco, GEH and GNF-A to explore advancing the commercialization and deployment of BWRX-300 SMRs in Canada and around the world; our view that nuclear energy will play a major role in achieving net-zero emission targets and the ability of SMRs to contribute to decarbonization; the efforts of SGE and GEH to identify supply chain opportunities in Poland that complement export capabilities being developed in Canada for the BWRX-300 that could provide carbon-free electricity in Poland; the potential to create additional uranium supply-related employment in Canada; the expectation of GEH that the BWRX-300 will require significantly less capital cost than other SMR designs; and GEH's belief that the BWRX-300 could become a low-risk, cost-competitive and quickest to market SMR. This forward-looking information is based on a number of assumptions, including assumptions regarding: the ability of Cameco, GEH, GEH SMR Canada and SGE to potentially establish a uranium fuel supply chain in Canada capable of servicing SMRs in Poland; the ability to commercialize and deploy BWRX-300 SMRs successfully in Canada and around the world; the ability of nuclear energy and SMRs to contribute to decarbonization; the potential for success in providing carbon-free electricity in Poland and additional employment opportunities in Canada; the capital cost requirements for the BWRX-300; and the speed and costs involved in bringing the BWRX-300 to market. This information is subject to a number of risks, including: the risk that a uranium fuel supply chain to service SMRs in Poland may not be successfully established; the risk that the BWRX-300 may not be commercialized and deployed within the expected time and at the expected costs, or at all; the risk that nuclear energy and SMRs may not contribute to decarbonization to the extent expected; and the risk that it may not prove possible for the parties to provide carbon-free electricity in Poland or create additional employment opportunities in Canada. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.

Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com

Media inquiries:
Jeff Hryhoriw
306-385-5221
jeff_hryhoriw@cameco.com


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NexGen Announces Appointment of Ivan Mullany to its Board of Directors

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the appointment of Ivan Mullany to the Company's Board of Directors.

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

Leigh Curyer, Chief Executive Officer, commented: "On behalf NexGen Energy's Executive and Board of Directors, we are very pleased to welcome Mr. Ivan Mullany .  Mr. Mullany has extensive knowledge and experience in the successful execution of global mining project construction and operational excellence.  Mr. Mullany is joining an experienced team dedicated to the responsible development of the Rook I Project that will create significant generational benefits to Saskatchewan and Canada , while playing a leading role globally in the delivery of clean energy fuel. Mr Mullany's skills and experience are an excellent complement to the Board and timely, as Rook I advances into Detailed Engineering in 2023.

Ivan Mullany

Mr. Mullany, BSc, Majoring in Extractive Metallurgy, CIMM, FAusIMM, has over 35 years in mining project management with broad international experiences.  Most recently, with Newmont Corporation and its predecessor Goldcorp Inc. on the Senior Leadership Team, he led numerous major projects, collectively in excess of $18 Billion , during the engineering study, construction and execution stages.

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 .

Contact Information

Leigh Curyer
Chief Executive Officer
NexGen Energy Ltd.
+1 604 428 4112
lcuryer@nexgenenergy.ca
www.nexgenenergy.ca

Travis McPherson
Chief Commercial Officer
NexGen Energy Ltd.
+1 604 428 4112
tmcpherson@nexgenenergy.ca
http://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 25, 2022 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR at www.sedar.com and Edgar at www.sec.gov .

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws .

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/nexgen-announces-appointment-of-ivan-mullany-to-its-board-of-directors-301734183.html

SOURCE NexGen Energy Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2023/31/c3967.html

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