ARROW:Canada’sLargestUndevelopedUraniumProject
January2017
InformationContainedInThisPresentation
ThispresentationisasummarydescriptionofNexGen EnergyLtd.(“NexGen”orthe“Company”)anditsbusinessanddoesnotpurporttobecomplete.Thispresentationisnot,andinnocircumstancesisittobeconstruedas,aprospectus,anadvertisement,orapublicofferingofsecurities.Nosecuritiesregulatoryauthorityorsimilarauthorityhas reviewedorinanywaypasseduponthedocumentorthemeritsoftheCompany’ssecuritiesandanyrepresentationtothecontraryisanoffence.
Exceptwhereotherwiseindicated,theinformationcontainedinthispresentationhasbeenpreparedbyNexGen andthereisnorepresentationorwarrantybyNexGen oranyotherpersonastotheaccuracyorcompletenessoftheinformationsetforthherein.ThispresentationincludesinformationonadjacentpropertiesthatwasobtainedfromvariouspubliclyavailablesourcesreferredtohereinandtheaccuracyandcompletenessofsuchinformationhasnotbeenverifiedbyNexGen.Exceptasotherwisestated,informationincludedinthispresentationisgivenasofthedatehereof.Thedeliveryofthispresentationshallnotimplythattheinformationhereiniscorrectasofanydateafterthedatehereof.
Alldollaramountsreferencedherein,unlessotherwiseindicated,areexpressedinCanadiandollars.
CautionaryNoteRegardingForward-lookingInformation
Thispresentationcontains"forward-lookinginformation"and“forwardlookingstatements”withinthemeaningofapplicableCanadiansecuritieslaws.Forward-lookinginformationandstatementsinclude,butarenotlimitedto,statementswithrespectto,plannedexplorationactivities,thefutureinterpretationofgeologicalinformation;theanticipated timingforanupdatedmineralresourceestimatebasedon2016drilling,growthpotentialandcostofsuchexplorationactivities,futurefinancings,thefuturepriceofuraniumandrequirementsforadditionalcapital.Generally,butnotalways,forwardlookinginformationandstatementscanbeidentifiedbytheuseofwordssuchas“plans”,“expects”,“isexpected”,“budget”,“scheduled”,“estimates”,“forecasts”,“intends”,“anticipates”,or“believes”orthenegativeconnotationthereoforvariationsofsuchwordsandphrasesorstatethatcertainactions,eventsorresults“may”,“could”,“would”,“might”or“willbetaken”,“occur”or“beachieved”orthenegativeconnationthereof.
Forward-lookinginformationandstatementsarebasedonthethencurrentexpectations,beliefs,assumptions,estimatesandforecastsabouttheCompany’sbusinessandtheindustryandmarketsinwhichitoperates.Suchforwardinformationandstatementsarebasedonnumerousassumptions,includingamongothers,thattheresultsofplannedexploration activitiesareasanticipated,thepriceofuranium,thecostofplannedexplorationactivities,thatfinancingwillbeavailableifandwhenneededandonreasonableterms,thatthirdpartycontractors,equipmentandsuppliesandgovernmentalandotherapprovalsrequiredtoconducttheCompany’splannedexplorationactivitieswillbeavailableonreasonabletermsandinatimelymannerandthatgeneralbusinessandeconomicconditionswillnotchangeinamaterialadversemanner.AlthoughtheassumptionsmadebytheCompanyinprovidingforwardlookinginformationormakingforward-lookingstatementsareconsideredreasonablebymanagementatthetime,therecanbenoassurancethatsuchassumptionswillprovetobeaccurate.
Forward-lookinginformationandstatementsalsoinvolveknownandunknownrisksanduncertaintiesandotherfactors,whichmaycauseactualresults,performancesandachievementsofNexGen todiffermateriallyfromanyprojectionsofresults,performancesandachievementsofNexGen expressedorimpliedbysuchforward-lookinginformationorstatements,including,amongothers:negativeoperatingcashflowanddependenceonthirdpartyfinancing,uncertaintyofadditionalfinancing,assayresultsmaynotbeconsistentwithpreliminaryresults,uncertaintyofmineralestimation,alternativesourcesofenergy,aboriginaltitleandconsultationissues,potentialforfeitureofRadioOptionAgreement,relianceonkeymanagementandotherpersonnel;potentialdownturnsineconomicconditions;actualresultsofexplorationactivitiesbeingdifferentthananticipated;changesinexplorationprogramsbaseduponresults;availabilityofthirdpartycontractors;availabilityofequipmentandsupplies;failureofequipmenttooperateasanticipated;accidents,effectsofweatherandothernaturalphenomenaandotherrisksassociatedwiththemineralexplorationindustry;changesinlawsandregulations;communityrelations;anddelaysinobtaininggovernmentalorotherapprovals,competition,uninsurablerisksandotherfactorsdiscussedorreferredtointheCompany’sMD&Aandotherdisclosuredocumentsfiledonandavailableatwww.sedar.com.
AlthoughtheCompanyhasattemptedtoidentifyimportantfactorsthatcouldcauseactualactions,eventsorresultstodiffermateriallyfromthosecontainedintheforward-lookinginformationorimpliedbyforward-lookinginformation,theremaybeotherfactorsthatcauseresultsnottobeasanticipated,estimatedorintended.Therecanbenoassurancethatforward-lookinginformationandstatementswillprovetobeaccurate,asactualresultsandfutureeventscoulddiffermateriallyfromthoseanticipated,estimatedorintended.Accordingly,readersshouldnotplaceundue relianceonforward-lookingstatementsorinformation.NexGen undertakesnoobligationtoupdateorreissueforward-lookinginformationasaresultofnewinformationoreventsexceptasrequiredbyapplicablesecuritieslaws.
Thefootnotes,endnotesandappendicestothispresentationcontainimportantinformation.Theendnotesandappendicesarefound at theendofthepresentation.
TechnicalInformation
ThescientificandtechnicalinformationinthispresentationhasbeenpreparedorapprovedbyGarrettAinsworth,P.Geo.,VicePresident– Exploration&Development,a“qualifiedperson”withinthemeaningofNationalInstrument43-101– StandardsofDisclosureforMineralProjects.Mr.Ainsworthreviewedthedatadisclosedinthispresentation,includingthesampling,analyticalandtestdataunderlyingtheinformationcontainedinthispresentation.Mr.AinsworthverifiedthattheresultsareaccuratebyreviewingtheofficialassaycertificatesprovidedtotheCompany.ForadescriptionoftheCompany’squalityassuranceprogramandqualitycontrolmeasures,typeofsamples,sampleintervals,relevantanalyticalvaluesandtestingprocedurespleaserefertothe“TechnicalReportontheRookIProperty,SaskatchewanCanada”havinganeffectivedateofNovember30,2015,filedundertheCompany’sprofileatwww.sedar.com.
Disclaimer
Summary
People
NexGen isledbyateamofhighlyexperienceduraniumprofessionalswithexperiencespanningexplorationthroughtoproduction.
Project
Arrowisthelargesturaniumexploration&developmentinCanada.
Arrowexhibitsunique technicalcharacteristics.
Jurisdiction
SaskatchewanCanadarated2nd bestminingjurisdictioninWorldbyFraserInstitutefor2015andisthesecondlargesturaniumproducingregionin
theWorldrepresenting16%ofglobalproduction.
Overview: NexGen Projects
Cluff LakeMine70kmtonorthwestofArrowoperatedduringthe90’sbyAREVA
ArrowisthelargestundevelopeduraniumdepositintheBasin.
Opportunityformorezonesofmineralizationacrossthepropertyandiscurrentlybeingtested.
Dominance in Southwest
201.9Mlbscontainedin3.48Mt grading2.63%U3O8intheInferredMineralResource
Categorymakingit3rdlargestdepositinBasin
Uniquely100%landbasedandentirelybasementhostedcommencing100m
belowsurface
Onlyincludesthe82holesdrilled uptothe
endofOctober2015(AR-14-01toAR-15-62)
Canada’s Largest Exploration/Development Project
MaidenInferredMineralResourceEstimate
Cut-Off% U3O8 Tonnes Grade(capped)%U3O8 ContainedU3O8
0.25 3,480,000 2.63 201,900,000
0.50 2,510,000 3.51 194,300,000
1.00 1,490,000 5.43 178,300,000
2.50 677,800 10.04 150,100,000
5.00 396,500 14.70 128,500,000
10.00 221,200 20.78 101,300,000
Resilient Resource Estimate
Notes:1.CIMDefinitionStandardswerefollowedforMineralResources.2.MineralResourcesarereportedatacut-offgradeof0.25%U3O8basedonalong-termpriceofUS$65perlbU3O8andestimatedcosts.3.Aminimumminingwidthof2.0mwasused.4. Numbersmaynotaddduetorounding.5. Effectivedate:January14,2016
Sandstone-hosteddeposits(egresstype)tendtohaveminingchallengesduetothemineralization is‘perched’withintheunconsolidatedandwetAthabascaSandstoneunitrequiringfreezing.
AthabascaBasinSetting– WhatmakesArrowUnique!
450munconsolidated
competent
Arrow isabasement-hostedzone(ingresstype)whichNexGenanticipateswillnot requirefreezingtoextractduetocompetentgroundsetting.
100m
10m
Current plan view of Arrow deposit.
Currentlyconsistsof5verticalparallelshears;A1,A2,A3,A4andA5thattrendalongstrikenortheast-to-southwest.
Currentlydrill testingtodefineboundariesatArrowbyaggressivelysteppingoutalongstrikeaswellasinfillingknownareaofmineralization.
Arrowisopeninalldirectionsandatdepth.
Arrow Open in All Directions
ArrowPlanView– ModelProgression
Arrow – Drilling to End of 2015 Arrow – Drilling to End of 2016
ArrowCrossSection– ModelProgression
Arrow – Drilling to End of 2015 Arrow – Drilling to End of 2016
A2 High Grade Domain ExpandingArrow’smaidenresourcedoesnotincludethe73,091mofdrillingatArrowduring2016.
Muchof2016drillingfocusedoninfillingA2HighGradeDomain
MoststronglymineralizedholesdrilledatArrowtodateinAR-16-64c2,-63c2andmanyothersnotincludedinresource.
ScissordrillinginHighGradeDomainhasresultedintop10rankedholesatproject.
ScissorholeAR-16-98c2returned10.0mat51.40%U3O8inA2HighGradeDomainandconfirmedcontinuity.
ContinuetoexpandA2HighGradeDomaingradeshell–nowtonortheast
HoleAR-16-98c1returned21.0mat4.17%U3O8including5.0mat10.97%U3O8innewhighgradeareaofA1shear.
Sincethen,follow-upholeshaveconfirmedhighpotentialfromthisnewhighgradearea.
MostrecentdrillingconfirmshighgradenatureoflargelyuntestedareaofA1shearwhichnowcoversastrikelengthof360m.
Theseholeallintersectedoff-scalemineralizationwelloutsideofthemaidenresourceestimate’sgradeshell.
Growth in the A1 Shear
Hole AR-16-90c3 hit 8.05m of off-scale mineralization including 1.5m of minimum-greater-than-61,000 cps with 1.0m of continuous.
Dense accumulations of semi-massive to massive pitchblende mineralization encountered here.
Three holes recently drilled into previously untested ’gap’ confirms continuity of mineralization between Arrow and 180 m southwest area.
Also an intense alteration zone located 230m below the surface was encountered.
Arrow and 180 m Southwest Area Connected
OnAugust11,2016NexGenannouncedHarpoonDiscovery4.7kmNEofArrowand1kmNEofBow.
MostsignificantnewdiscoverymadeinSWAthabascaBasinsinceArrowinFebruary2014.
HP-16-08intersected17mcontinuousmineralizationincluding4.5mofoff-scalewithmassivetosemi-massivepitchblendemineralizationpresent.
WillreturntofurtherexpandandtestHarpooninwinter2017andbeyond.
New Discovery: Harpoon
Already3 newdiscoveriesoutsideofArrowinHarpoon,BowandCannon.
Wideopenfertileuraniumcorridorwith14kmofknownstrikeofwhichNexGen holds9km.
ContinuetobalanceexpansionandinfilldrillingatArrowwithregionalexplorationeffortswith75%ofmetresdrilledtargetingArrowand25%onregionaltargetsalongPattersonCorridor.
Fertile Uranium Trend
Wellfunded:C$74Mintreasurytofinanceprogramsintothefuture.
Timeline
2016
Drilled96,996matRookIin2016
---Metallurgical,geotechnical,
hydrogeologicaltestingundertaken
---ReleasedMaidenResourceEstimate
H1/2017
Complete35,000mwinterdrillprogram
---ReleaseUpdatedResourceEstimate
---Advancedsite
characterizationandgeotechnicaldrilling
H2/2017
Summer2016drillprogram
---Continuedadvancedenvironmentaland
engineeringtestwork---
UpdatedResourceEstimateandPre-
feasibilitystudybyend2017 touseasbasisforpermitapplication
Local Prosperity Programs
Someofourprogramsinclude:
• CampQuest:MiningRocksEarthScienceProgram
• LaLoche grade4fieldtrips
• Campdogfosteringprogram
• Studentapprenticeshipprograms.
• Strictfocusontheenvironment,communityandsafety.
NexGen is committed to local residentsand to Saskatchewan
Site Infrastructure
AccessRoadandBridge
Kitchen,Office,Safety
Formoreinformationpleasevisit:www.nexgenenergy.ca orcontact:
TravisMcPherson – CorporateDevelopmentManagerPhone:+1.604.428.4112
Email:[email protected]
Contact Information
Appendices
SharesIssued 303,902,506
FullyDiluted 340,882,904
Cash ~C$74million
InsiderOwnership 5%
Shareholders •CEFHoldings(Li Ka-shing)•1832AssetManagement•Blackrock(UK)•RosseauAssetManagement•Segra CapitalManagementLLC•CQSManagementLtd.• HaywoodSecurities
WarrantsOptionsCEFConversion
5,714,28631,266,11225,794,248(conversionpriceofUS$2.35)
1.) Sharestructure and Cash as atJan.1,2017.
Capital Structure
Name Experience
LeighCuryerCEO
•CharteredAccountantwith+20yearsexperience andex-CFOofSouthernCrossResources(nowUraniumOne)•Managed exploration,feasibilityandpermittingofHoneymoonUraniumProjectinSouthAustralia•Ex-HeadCorporateDevelopmentatAccordNuclearResourcesManagementassessingglobaluraniumassetsforFirstReserveInternational
GarrettAinsworthBSc,PGeo – VPExploration
•ProfessionalgeologistandformerProjectManagerforAlphaMinerals-Fission50/50JVonPattersonLakeSouthprojectfrom2007to2013•Stakedclaims,boulderprospecting andleddrillprogramsthatledtodiscoveryofR00E,R390EandR780Ezones•WonAMEBC2014ColinSpenceAwardfordiscoveryofPattersonLakeSouth
TravisMcPhersonCorporateDevelopmentManager
•Ex-Head CorporateDevelopmentforTSX-listedgoldproducer•M&A,debtandequity, permitting,budgetingandcorporatestrategyexperience
Management
GraceMarositsCFO
•CharteredAccountantwithpublicpracticeandcorporateexperienceincludingDeloitte,WestcoastEnergyandBallardPower
JoannaCameronVPLegal
•Lawyerwith+20yearsexperience inexploration andmining•Ex-partnerCassels Brock&Blackwell LLP
Management (Continued)
Name Experience
ChristopherMcFadden(Chairman)
Lawyerwith+20yearsexperienceinexploration andminingCommercialGeneralMangerforRio Tinto
RichardPatricio Lawyer with+15yearscapitalmarketsexperienceCEOandPresidentofMegaUranium
TrevorJ.Thiele CharteredAccountantwith+30yearsexperienceincapitalmarketsincludingCFOofmajorAustralianAgribusinesses(EldersandViterra)
CraigParry Geologistex-Rio Tinto,Oxiana LimitedandG-ResourcesFoundingmemberofTigers RealmGroup
Dr.MarkO’Dea Geologist with+20yearsexperienceindiscoveries,development,miningandM&ACo-founderofFronteer,Aurora,TrueGoldMiningsoldfor$2.3Bn,$260Mand$240M,respectively
Board of Directors
Advisory Board
CharlesScorer(UraniumMarketing)
+25 yearscommercialandoperationalexperienceinnuclearfuelmarketFounderandex-CEOofNufcor International
AndrewBrowne(TechnicalAdvisoryHead)
Uraniumgeologistwith+43yearsexperienceKeymember ofexplorationteamsatJabilukaandRanger1No.3Deeps
Why Uranium?
0Greenhouse Emissions
Demand is expected to outpace total uranium supply by 2018/2019 when nuclear utilities will have to either turn off reactors (challenging and expensive) or pay higher prices for nuclear feed.
Theinevitablesupplycrunchiscoming.
The Inevitable Supply Crunch
World Nuclear Association, Raymond James Ltd.
TechnicalDisclosure
General
The mineral resource estimate referred to/summarized herein wasprepared byRPAInc.(“RPA”),anindependent consultingcompany.
Drilling,SamplingandAnalytical
The mineral resource estimate isdefinedbyatotal of82diamondcoredrillholes.Thedrillholespacingisapproximately 50metre x50metre through mostofthedeposit,andistighter(approximately 50metre x25metre) inthehigher grade A2sub-zone.Allofthecorecollected isNQsized(47.6mmdiameter). Radioactive intervals were spliton-sitein0.5metre intervals andtransported byCompanypersonnelto SRCGeoanalytical Laboratories (anSCCISO/IEC 17025:2005accredited facility)ofSaskatoon for geochemical analysisandU3O8 assay.Allsampleswere analyzedusingICP-MS(InductivelyCoupledPlasma– MassSpectrometry) for trace elements after partial andtotal digestions,plusICP-OES(InductivelyCoupledPlasma– OpticalEmissionSpectrometry) formajorandminorelements after atotal digestion,andfusionsolutionofboronbyICP-OES.Mineralizedsamplesfor assay were analyzed forU3O8byICP-OES.Select sampleswere alsoanalyzed for goldbyfire assay. Analytical results were onlyaccepted after stringent internal QA/QCcriteria hadbeenpassed.Allgrade data usedinthemineral resource estimate wasobtained fromchemical assays; noradiometric probe data were used.
Estimation Methodology
The interpretation for mostofthemineralized lenses (domains)wasguidedbypreliminary grade-shellwireframes created inLeapfrog software andthenrefined inVulcansoftware with conventionalthree-dimensionalwireframe grade shellswithathreshold of0.05%U3O8.Wireframes were assembled bytyingtwo-dimensional cross-section andplanviewpolygonstogether usingthedrillholedata forareference. Thepolygonswere “snapped”tothe drillholestoensure that the boundariesaccuratelycorrespond toselected drillholeintervals. Onehighgrade portionofthe deposit(A2HighGrade) wasmodelledwithanadditionalhigher grade wireframe based onathresholdof5.0%U3O8.Thehighergrade wireframe islocatedwithinandcompletely encompassed bya0.05%grade shellwithintheA2structure. Drillholeassay data was compositedto2metre (metre) lengths withinthewireframes andtagged withthe corresponding domaincode.
Uranium (asU3O8)grades were interpolated withanID3 (inverse distance cubed) functionintoablockmodelwithblocksmeasuring 5metre (along strike) x5metre (downdip)x2metre (across strike). Thegrade shellswere usedas hardboundaries,suchthat onlydrillholedatainsideofanygivendomaincouldinformtheblockswithinthatdomain.Very highgrade outliers were capped at55%U3O8 withinthe A2highgrade domainand6%,8%and15%U3O8 inthelowergrade domains.
Atotal of1,949bulkdensitymeasurements have been collected ondrillcoresamples.Themeasurements showastrong relationshipbetween uraniumgrade anddensityat theArrow deposit,
withhigher grade samplesbeingmore dense thanlower grade samples.Therefore, the uraniumgradewasusedto estimate the densityofeach samplewitha polynomialformulawhichisbasedonaregression fit.Densities were then interpolated intotheblockmodeltoconvert mineralized volumestotonnage, andwere alsousedtoweight theuraniumgrades interpolated intoeach block.
The resulting blockmodelwasvalidated byvisualinspection,volumetric comparison,swathplots,andblockgrade estimation usinganalternative method.Aswell,themean blockgrade at zero cutoff wascompared to themean ofthe compositedassay data toensure noglobalbias.
QPStatement
The mineral resource estimate was completed byMr.Mark Mathisen, C.P.G.,seniorgeologist at RPAandMr.David Ross,P.Geo.,director ofresource estimation andprincipalgeologistat RPA.Bothareindependent “qualifiedpersons”for the purposesofNationalInstrument 43-101StandardsofDisclosureforMineral Projects (“NI43-101”),andtheyhave approved the disclosureherein regardingthe mineral resource estimate.
Allother scientificandtechnical information inthispresentation hasbeen reviewed andapproved byMr. Garrett Ainsworth, P.Geo.,Vice President – Exploration &Development forNexGen. Mr.Ainsworth isaqualifiedpersonforthe purposesofNI43-101andhasverifiedthesampling,analytical,andtest data underlying the informationor opinionscontainedhereinbyreviewing originaldatacertificates andmonitoringallofthe data collectionprotocols.
AdditionalInformation
For additionaltechnical informationontheRook1Project, refer to thetechnical report titled“Technical Report onthe Rook1Property, Saskatchewan Canada” having aneffective date ofNovember 30,2015andnewsreleasesissuedsubsequentthereto.
End Notes