Fission Resource Expansion Program Hits Wide Mineralization in all 20 Holes

All Holes Intersect Multiple Stacked Intervals;
13 Holes Hit High Grade Mineralization

TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU

FISSION URANIUM CORP. (" Fission " or " the Company ") is pleased to announce results from the first of its 2021 drill programs on the R780E zone of the high-grade Triple R deposit at its' PLS project, in the Athabasca Basin region of Saskatchewan, Canada . Twenty holes were completed in 7,147.8m including 1 hole restarted due to excessive deviation. All twenty holes hit wide mineralization in multiple stacked intervals, with thirteen intercepting significant intervals of >10,000 cps radioactivity. The goal of the winter program was to upgrade key sections of the Triple R deposit's R780E zone to "indicated" category by increasing drill hole density where the resource is largely classified as Inferred. These recently completed holes have the potential to increase the Indicated category resource which may positively impact the planned feasibility study. The holes include PLS21-606 (line 900E), which intersected 118.0m of total composite mineralization, including 1.35m of total composite radioactivity >10,000 cps (with a peak of 23,400 cps) and PLS21-597 (line 900E) with 92.0m total composite mineralization, including 4.80m total >10,000 cps (with a peak of 51,400 cps) .

Ross McElroy , CEO for Fission, commented, " This is the first of our 2021 drill programs and I'm very pleased to report that we have met, and in numerous instances exceeded, our expectations on width and strength of mineralization in all 20 holes. We continue to make strong progress towards feasibility, and these results will be instrumental in delivering a key part of our deposit growth strategy."

Drilling Highlights

20 Holes Hit Significant Mineralization over wide Intervals. 21 holes were drilled ( 7,147.8m ) including 20 holes completed ( 7,046.8m ) with 1 abandoned and redrilled due to deviation from target.
Triple R Deposit Resource Drilling . Drilling successfully targeted an important mainly "inferred" categorized area of the eastern R780E zone between lines 900E and 1125E, using step out and infill drilling to achieve spacing of ~15m x 20m (horizontal / vertical), with the aim of conversion from Inferred to Indicated.
Hole PLS21-597 (line 900E)

92.0m total composite mineralization over a 214m interval (between 117.0m to 331.0m ), including

4.8m of total composite mineralization >10,000 cps

Hole PLS21-605 (line 930E)

110.0m total composite mineralization over a 272.5m interval (between 105.5m to 378.0m ), including

4.15m of total composite mineralization >10,000 cps

Hole PLS21-595 (line 1050E)

46.0m total composite mineralization over a 73.5m interval (between 264.0m to 337.5m ), including

4.75m of total composite mineralization >10,000 cps

Table 1: Drill Hole Summary

Hole ID	Zone	Collar			Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum)				Lake Depth (m)	Sandstone From - To (m)	Basement Unconformity Depth (m)	Total Drillhole Depth (m)
Hole ID	Zone	Grid Line	Az	Dip	From (m)	To (m)	Width (m)	CPS Peak Range	Lake Depth (m)	Sandstone From - To (m)	Basement Unconformity Depth (m)	Total Drillhole Depth (m)
PLS21-592	R780E	1125E	334	-66	Hole Abandoned Due to Excessive Deviation				8.3	NA	69.3	101.0
PLS21-592A	R780E	1125E	335	-67.1	190.5	192.0	1.5		8.3	NA	71.3	287.0
					197.0	203.5	6.5
					207.0	209.0	2.0	330 - 840
					214.5	216.0	1.5	610 - 740
					220.0	251.5	31.5	320 - 27300
					286.5	287.0	0.5	330
PLS21-593	R780E	1050E	335	-67.4	229.0	243.0	14.0		8.2	NA	74.6	356.0
					245.5	246.0	0.5	320
					249.0	251.0	2.0	680 - 1200
					263.5	265.0	1.5	770 - 3400
					268.5	274.0	5.5
					278.0	282.5	4.5
					293.5	298.5	5.0	420 - 12200
					299.5	302.0	2.5	420 - 1100
					303.5	305.5	2.0	510 - 610
					307.0	307.5	0.5	400
					343.5	344.0	0.5	530
PLS21-594	R780E	1095E	337	-70.0	151.0	153.0	2.0	310 - 480	8.2	NA	68.5	281.0
					155.0	156.0	1.0	950 - 2000
					158.5	159.5	1.0	330 - 440
					160.0	162.0	2.0	340 - 1050
					164.0	165.5	1.5	330 - 1200
					181.0	181.5	0.5	340
					182.0	183.0	1.0	300 - 360
					191.5	192.0	0.5	300
					196.0	199.0	3.0	680 - 14400
					202.0	204.0	2.0	360 - 1300
					205.0	206.5	1.5	430 - 610
					213.5	216.0	2.5	400 - 1900
					216.5	217.0	0.5	460
					266.5	267.5	1.0	430 - 1400
PLS21-595	R780E	1050E	337	-69	264.0	270.0	6.0	320 - 12500	7.0	NA	72.7	353.0
					272.0	279.0	7.0	330 - 3700
					282.0	314.0	32.0
					317.0	317.5	0.5	410
					337.0	337.5	0.5	1100
PLS21-596	R780E	1095E	337	-69	175.0	179.0	4.0		8.2	NA	70.8	338.0
					183.0	183.5	0.5	340
					186.0	199.0	13.0
					203.0	207.5	4.5
					214.0	227.0	13.0
					231.5	236.5	5.0
					276.0	277.0	1.0	310 - 720
					288.5	289.0	0.5	710
					296.5	302.5	6.0
					310.5	313.5	3.0
					322.0	322.5	0.5	370
PLS21-597	R780E	900E	335	-69.6	117.0	118.5	1.5	320 - 1100	8.2	NA	63.0	383.0
					124.5	125.5	1.0	370 - 570
					133.0	133.5	0.5	340
					136.0	147.0	11.0
					150.5	152.0	1.5
					157.0	158.0	1.0	430 - 710
					177.5	184.5	7.0	360 - 25100
					189.0	201.0	12.0
					217.0	218.0	1.0	5300 - 8000
					223.0	224.0	1.0	420 - 2700
					229.0	230.0	1.0	1100 - 4700
					233.0	239.0	6.0
					243.5	259.5	16.0
					264.5	290.0	25.5
					293.5	295.5	2.0
					317.0	320.0	3.0
					325.0	325.5	0.5	410
					330.5	331.0	0.5	500
PLS21-598	R780E	1080E	337	-68	183.5	185.5	2.0		8.2	NA	68.3	359.0
					191.0	199.5	8.5
					204.5	205.5	1.0	310 - 1100
					219.0	219.5	0.5	490
					222.0	223.0	1.0	330 - 1100
					273.0	283.5	10.5
					294.0	295.0	1.0	890 - 1200
					297.5	307.5	10.0
					313.0	314.0	1.0	420 - 520
					321.0	322.0	1.0	530 - 2600
					348.5	351.5	3.0	330 - 780
PLS21-599	R780E	1080E	340	-71	137.0	137.5	0.5	1000	8.3	NA	68.4	326.0
					166.0	173.5	7.5
					176.5	179.5	3.0
					182.0	184.0	2.0
					188.5	191.0	2.5
					197.0	214.0	17.0
					221.0	224.0	3.0	410 - 2900
					288.5	289.0	0.5	580
					301.5	304.0	2.5
PLS21-600	R780E	900E	337	-69.9	110.5	114.0	3.5	350 - 1100	7	NA	66.3	374.0
					126.5	142.5	16.0
					169.5	170.0	0.5	310
					172.5	174.5	2.0	350 - 670
					177.0	181.0	4.0
					184.0	195.0	11.0
					205.0	206.5	1.5	390 - 25200
					217.0	218.5	1.5	360 - 430
					221.5	222.0	0.5	460
					226.5	228.0	1.5	620 - 1600
					231.0	232.0	1.0	3600 - 4200
					236.0	239.5	3.5
					259.0	271.5	12.5
					274.5	295.0	20.5
					297.5	300.0	2.5	310 - 850
					313.0	315.0	2.0
					318.0	318.5	0.5	940
					347.0	350.0	3.0	330 - 650
PLS21-601	R780E	915E	336	-70.4	118.5	133.5	15.0		8.2	NA	66.8	377.0
					145.5	147.5	2.0	370 - 1200
					153.5	155.0	1.5
					160.5	198.0	37.5
					203.0	215.5	12.5
					225.5	226.0	0.5	800
					237.0	262.5	25.5
					269.0	271.0	2.0	370 - 460
					297.5	300.5	3.0	360 - 8100
					305.5	308.0	2.5
					317.0	320.5	3.5
					331.0	331.5	0.5	490
					354.5	355.5	1.0	300 - 380
					375.0	376.0	1.0	460 - 800
PLS21-602	R780E	915E	337	-70.4	99.5	100.0	0.5	380	8.2	NA	69.9	382.0
					108.0	108.5	0.5	480
					134.5	136.0	1.5
					176.0	177.5	1.5
					185.5	195.0	9.5
					206.5	212.5	6.0
					221.5	222.5	1.0	580 - 880
					228.5	242.5	14.0
					246.5	251.5	5.0
					264.5	280.0	15.5	65535
					286.0	321.0	35.0
					342.0	347.5	5.5
					372.0	372.5	0.5	350
PLS21-603	R780E	915E	339	-69.9	98.0	100.5	2.5	350 - 510	8.2	NA	69.8	363.0
					110.0	110.5	0.5	530
					134.0	139.5	5.5	420 - 5800
					148.5	154.0	5.5
					156.5	160.5	4.0
					165.5	166.5	1.0	380
					172.0	185.5	13.5
					213.0	214.0	1.0	5200 - 20000
					221.0	225.0	4.0
					231.0	240.5	9.5
					244.5	250.0	5.5	320 - 3500
					270.0	274.0	4.0	470 - 33000
					279.5	288.0	8.5	390 - 13200
					292.0	292.5	0.5	530
					295.0	300.0	5.0
					303.0	303.5	0.5	440
					308.5	320.0	11.5
					337.0	338.5	1.5	330 - 470
					345.5	346.0	0.5	640
PLS21-604	R780E	915E	339	-69.9	131.5	132.0	0.5	480	8.2	NA	62.3	374.0
					171.5	198.0	26.5
					233.5	237.0	3.5
					240.0	240.5	0.5	310
					257.0	260.5	3.5
					268.0	274.5	6.5
					279.5	280.0	0.5	380
					283.5	284.0	0.5	390
					286.5	294.0	7.5
					298.0	302.0	4.0	460 - 4700
					319.0	319.5	0.5	340
					323.0	329.5	6.5
					332.0	338.0	6.0
PLS21-605	R780E	930E	335	-67.8	105.5	106.5	1.0	330 - 650	8.2	NA	72.1	389.0
					116.0	116.5	0.5	420
					136.5	142.5	6.0
					145.0	147.5	2.5
					150.0	159.5	9.5
					163.5	183.5	20.0
					205.5	207.5	2.0
					210.0	212.5	2.5	410 - 700
					221.0	225.5	4.5
					247.5	259.5	12.0
					262.5	263.5	1.0	580 - 17000
					270.0	296.0	26.0
					298.5	306.5	8.0
					309.0	310.0	1.0	340 - 1000
					313.0	318.0	5.0
					320.5	321.0	0.5	480
					323.5	324.0	0.5	640 - 10400
					337.0	338.5	1.5	790 - 1900
					353.5	355.5	2.0
					361.5	362.5	1.0	620 - 680
					369.5	370.5	1.0	460 - 550
					373.0	374.5	1.5	330 - 650
					377.5	378.0	0.5	780
PLS21-606	R780E	900E	336	-68.9	103.0	106.0	3.0		8.2	NA	62.0	371.0
					118.5	122.0	3.5
					141.0	168.5	27.5
					173.5	198.0	24.5
					203.5	205.0	1.5	310 - 2500
					213.5	215.5	2.0	320 - 2100
					229.0	272.5	43.5
					280.0	284.0	4.0	570 - 3000
					286.5	287.5	1.0	1600 - 6100
					291.0	292.5	1.5	510 - 5300
					295.5	296.0	0.5	330
					308.5	309.0	0.5	390
					316.0	317.5	1.5	320 - 860
					325.0	328.5	3.5
PLS21-607	R780E	1065E	339	-75.6	190.0	195.0	5.0		8.2	NA	74.3	344.0
					203.5	206.0	2.5
					212.0	213.0	1.0	300 - 740
					218.0	238.0	20.0
					244.5	245.0	0.5	700
					280.0	297.5	17.5
					305.0	309.0	4.0	300 - 6700
					312.0	313.0	1.0	950 - 1100
					324.0	326.0	2.0	300 - 870
					331.0	331.5	0.5	370
PLS21-608	R780E	900E	336	-69.9	113.0	119.5	6.5	330 - 2400	8.2	NA	66.2	363.8
					175.5	183.0	7.5
					185.5	187.0	1.5
					190.0	198.0	8.0
					201.0	210.5	9.5
					218.5	220.5	2.0
					223.5	225.0	1.5	420 - 470
					228.5	230.5	2.0	300 - 930
					234.5	239.0	4.5
					245.5	258.0	12.5
					275.0	304.0	29.0
					318.0	329.5	11.5
					344.5	346.0	1.5	600 - 1400
PLS21-609	R780E	1125E	337	-75.4	105.5	106.0	0.5	930	8.2	NA	68.7	329.0
					215.0	236.5	21.5
					239.0	245.0	6.0
					252.5	260.5	8.0
					270.0	279.0	9.0
					282.5	286.5	4.0
					302.0	303.0	1.0	420 - 870
					306.0	321.0	15.0
PLS21-610	R780E	915E	334	-70.1	148.0	148.5	0.5	420	8.2	NA	66.2	365.0
					168.0	172.0	4.0
					180.0	199.0	19.0
					201.5	205.5	4.0
					228.0	228.5	0.5	340
					231.0	231.5	0.5	7800 - 15600
					235.5	241.0	5.5
					245.0	247.0	2.0
					252.0	261.5	9.5
					283.5	305.5	22.0
					308.5	321.5	13.0	300 - 3500
					327.0	337.0	10.0
					355.5	359.0	3.5
PLS21-611	R780E	1095E	341	-69.9	196.5	199.5	3.0		8.2	NA	68.8	332.0
					207.5	209.5	2.0	320 - 980
					222.0	234.5	12.5
					274.5	275.0	0.5	380
					286.5	291.5	5.0
					294.0	295.0	1.0	420 - 640

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using either a hand-held RS-230 or RS-125 Scintillometer, both manufactured by Radiation Solutions, which are capable of discriminating readings up to 65,535 cps. Natural gamma radiation in the drill hole survey that is reported in this news release was measured in counts per second (cps) using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high-grade mineralization. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole. All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not always representative of true thickness. The orientation of the mineralized intervals tend to follow that of lithologic contacts, and generally dip steeply to the south. Within the Triple R deposit, individual zone wireframe models constructed from assay data and used in the resource estimate indicate that all 5 zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation.

Samples from the drill core will be split in half sections on site and where possible, samples will be standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes U ₃ O ₈ (wt %) and fire assay for gold, while the other half remains on site for reference. All analysis includes a 63 element ICP-OES, uranium by fluorimetry and boron.

PLS Mineralized Trend & Triple R Deposit Summary

Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18 km of east-west strike length in five separated mineralized "zones" which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.

The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55 m to 100 m . R1515W is the western-most of the zones and is drill defined to ~90 m in strike-length, ~68 m across strike and ~220 m vertical and where mineralization remains open in several directions. R840W is located ~515 m to the east along strike of R1515W and has a drill defined strike length of ~430 m. R00E is located ~485 m to the east along strike of R840W and is drill defined to ~115 m in strike length. The R780E zone and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50 m . R780E is located ~225 m to the east of R00E and has a drill defined strike length of ~945 m. R1620E is located ~210 m along strike to the east of R780E, and is drill defined to ~185 m in strike length.

The Company completed and filed a prefeasibility "PFS" study on November 07, 2019 titled "Pre-Feasibility Study on the Patterson Lake South Property Using Underground Mining Methods, Northern Saskatchewan, Canada ". The report summarizes the Pre-Feasibility Study ("UG PFS"), which outlines an underground-only mining scenario for PLS which to date has only considered the R00E and R780E zones. Further work, including additional drilling may provide sufficient data for future inclusion of the R1515W, R840W and R1620E zones into the Feasibility Study mine plan.

Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.

Patterson Lake South Property

The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes the nearby Nexgen Arrow deposit located 3km to the east and UEX-Areva Shea Creek discoveries located 50km to the north.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy , P.Geol., President and CEO for Fission Uranium Corp., a qualified person.

About Fission Uranium Corp.

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna , British Columbia. Fission's common shares are listed on the TSX Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF."

ON BEHALF OF THE BOARD

"Ross McElroy"

Ross McElroy , President and CEO

Cautionary Statement:
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: risks related to the Offering, risks related to Fission's limited business history, risks related to the nature of mineral exploration and development, discrepancies between actual and estimated mineral resources, risks related to uranium market price volatility, risks related to the market value of the common shares of Fission, risks related to market conditions, risks related to the novel coronavirus (COVID-19) pandemic, including disruptions to the Company's business and operational plans, risks related to the global economic uncertainty as a result of the novel coronavirus (COVID-19) pandemic and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com . The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Fission Uranium Corp.

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News Provided by Canada Newswire via QuoteMedia

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NexGen Achieves Major Permitting Milestone

The Canadian Nuclear Safety Commission ("CNSC") has notified NexGen of successful completion of final Federal technical review.
This is the key requirement to scheduling a Federal Commission Hearing date and subsequent Federal Project approval decision.
The Federal Environmental Assessment ("EA") and License represent the final major approval steps after having received Provincial EA approval in November 2023 .
In production, the Rook I Project is poised to make NexGen one of the world's largest and most environmentally conscious mining companies.

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is excited and proud to announce a major milestone in the Federal EA process for its 100%owned Rook I Project ("the Project"). The CNSC has provided NexGen formal confirmation that the Company has successfully addressed all information requests received as part of the Federal technical review. With completion of the CNSC technical review, the next and final steps in the Federal approval process include scheduling a Commission Hearing Date for the Project, subject to which the CNSC will render an approval decision on the Project.

This historic milestone marks a crucial step forward for the Project that has been undergoing Canada's robust and rigorous regulatory process since 2019. Completion of the Federal EA technical review stage follows the CNSC having deemed NexGen's Federal licence application sufficient in September 2023 , and receipt of Provincial EA approval in November 2023 . This development reinforces Canada's path to re-establish itself as the leader in global uranium supply and partner of choice.

Leigh Curyer, Chief Executive Officer, commented: "This exciting outcome is a testament to the exceptional efforts of our entire NexGen team, the collaborative support of our valued Indigenous Nation partners, and our transparent approach with the CNSC to ensure a robust and thorough review that meets the highest standards of environmental protection for the sustainable development of the Rook I Project. Since inception, our honest and innovative holistic approach to the successful development of this generational project has set new industry standards as to what is possible, whilst positively impacting all our valued stakeholders.

Together with the Clearwater River Dene Nation, Métis Nation – Saskatchewan Northern Region 2 and Métis Nation – Saskatchewan , Buffalo River Dene Nation, and Birch Narrows Dene Nation, we are construction ready to deliver transformative and unprecedented social, economic and environmental benefits to local communities, the Province of Saskatchewan, Canada , and the world.

We're not just developing a mine - we're building strong communities while shaping a sustainable and secure global energy future. With over $800 million in cash and liquid assets, we are ready pending a positive Commission decision with all activities required to immediately commence major site works in place."

NexGen is poised to propel Canada back to the forefront of global clean energy fuel production. The Rook I Project embodies NexGen's commitment to elite environmental performance, unprecedented community inclusion, and responsible alignment with global net-zero goals.

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 and 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 estimates for CapEx, OpEx and a payback period of 12 months, the appointment of a lead lender group, the availability of financing for the Project, the advancement of detailed engineering and contract negotiations, bolstering the globe's uranium supply chains to meet the rising demand for nuclear energy, the timing and cost of reclamation, including as part of the UGTMF and after-tax free cash flow remaining materially consistent with the FS, Free Cash Flow, Payback Period and IRR relative to various uranium prices, the delivery of clean energy fuel for the future, the development of the largest low cost producing uranium mine globally and incorporating elite standards in environmental and social governance, delivering a project that leads the entire mining industry socially, technically and environmentally, providing generational long-term economic, environmental and social benefits for Saskatchewan, Canada and the world, planned exploration and development activities and budgets, the interpretation of drill results and other geological information, mineral reserve and resource estimates (to the extent they involve estimates of the mineralization that will be encountered if a project is developed), requirements for additional capital, capital costs, operating costs, cash flow estimates, production estimates, the future price of uranium and similar statements relating to the economics of a project, including the Rook I Project. Generally, forward-looking information and statements can be identified by the use of forward-looking terminology 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, that financing for the Project will be available in a timely manner and on terms acceptable to the Company, the results of planned exploration and development activities will be as anticipated and on time; 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 and updated/revised CapEx, OpEx, SusEx, and pay back period; assumptions made in the interpretation of drill results and other geological information; the ability to achieve production on the Rook I Project; and 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 additional financing, the risk that pending assay results will not confirm previously announced preliminary results, the imprecision of mineral reserve and resource estimates, the price and appeal of alternate sources of energy, sustained low uranium prices, aboriginal title and consultation issues, development risks, climate change, uninsurable risks, reliance upon key management and other personnel, risks related to title to its properties, information security and cyber threats, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, changes in laws, regulations and policy, competition for resources, political and regulatory risks, general inflationary pressures, industry and economic factors that may affect the business, and other factors discussed or referred to in the Company's most recent Annual Information Form under "Risk Factors" and management's discussion and analysis under "Other Risks Factors" filed on SEDAR+ at www.sedarplus.ca and 40-F filed on 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.

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 are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof. 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.

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