- Signs Impact Benefit Agreement with Buffalo River Dene
Nation,
- Signs Mutual Benefit Agreement with Birch Narrows Dene
Nation,
- Appoints Community Based Project Liaison Manager,
and
- The Court of Queen's Bench for Saskatchewan Dismisses MN-S
Application,
VANCOUVER, BC, July 14, 2021 /PRNewswire/ - NexGen Energy
Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE MKT:
NXE) is pleased to announce the signing of an Impact
Benefit Agreement ("IBA") with the Buffalo River Dene Nation
("BRDN"), and the signing of a Mutual Benefit Agreement ("MBA")
with the Birch Narrows Dene Nation ("BNDN"), covering all phases of
the Rook I Project ("Rook I" or the "Project"), which hosts the
100% owned Arrow uranium deposit.
The Rook I Project is located within the traditional territory
of BRDN and BNDN. Both the IBA and MBA define the environmental,
cultural, economic, employment and other benefits to be provided to
the BRDN and BNDN by NexGen in respect of the Project and confirm
the consent and support of both BRDN and BNDN for the Project
throughout its complete lifecycle, including reclamation. The
Agreements were negotiated and developed out of the Study
Agreements signed in 2019. The Study Agreements formalized
engagement with the communities to identify potential impacts to
Aboriginal and treaty rights and socio-economic interests, and
identify potential avoidance and accommodation measures in relation
to the Project whilst acknowledging the duty to consult remains
with the Crown. Note, the Agreements do not abrogate, extinguish,
or constitute the abandonment of any existing Aboriginal, inherent,
or treaty rights of the BRDN and BNDN recognized and affirmed
pursuant to Section 35 of the Constitution Act, 1982.
Importantly, the Agreements are entered into in recognition of the
Aboriginal and Treaty Rights of the BRDN and the BNDN.
Chief Elmer Campbell of
Buffalo River Dene Nation, commented: "The jobs and
business opportunities that our members will be able to obtain with
the Project incorporating elite environmental and cultural
practices is very exciting. Our community and NexGen have built a
meaningful relationship over the past six years based on trust,
respect and confidence. The Agreement reflects those key
principles. We look forward to the advancement of the Project
throughout all phases of its lifecycle."
Chief Jonathan Sylvester of
Birch Narrows Dene Nation commented: "I am pleased to
announce that we have signed an MBA with NexGen. The Project is
still going through the regulatory process to determine its safety
and we are participating in that process. On meeting the regulatory
requirements, our community stands to benefit with environmental
monitoring, jobs, business opportunities, and payments to support
community priorities. NexGen has been working with us in a
respectful way."
Furthermore, Chief Jonathan
Sylvester released a video with his message to BNDN
regarding the MBA. The video is available here: BNDN MBA Video
Eric Sylvestre, Birch Narrows
Dene Nation Economic Development Officer, commented: "We
are pleased to be involved in a project that creates opportunities
for our community while still protecting the environment. Past
projects from industry passed us by. This represents a major
opportunity for us."
Leigh Curyer, Chief Executive Officer of NexGen,
commented: "The signing of the Agreements reflects the
meaningful respect, trust and commitment developed over the past
six years between NexGen and the communities of BRDN and BNDN. The
Agreements formalize NexGen's commitment to work in partnership
with all local communities, with the mutual objective to
responsibly develop the Rook I Project. The genuine commitment to
their communities displayed by Chief Campbell and Chief Sylvester,
along with their respective Councils and teams, and NexGen's
approach to sustainable development of the Rook I project, is
reflected in the signing of these industry leading Agreements. We
look forward to immediately advancing the exciting elements of
these Agreements and our genuine approach to all communities in the
Local Project Area."
Appointment of Robert St.
Pierre to Project Liaison Manager
Further, NexGen is pleased to announce that in support of
NexGen's commitment to local communities, Robert St. Pierre will be joining the team as
Project Liaison Manager based out of the Company's office in
La Loche. Robert brings a wealth
of experience as past President, Local Métis 39, and having served
as the mayor of La Loche from 2016
to 2020. NexGen has had the privilege of working closely with
Robert since 2016, and his deep commitment to the advancement of
local communities will support bringing prosperity and meaningful
benefits to the communities where we operate.
The Court of Queen's Bench for Saskatchewan Dismisses MN-S
Application
On July 12, 2021, the Court of
Queen's Bench for Saskatchewan
dismissed an Application filed by the Métis Nation-Saskatchewan
("MN-S") in which the MN-S sought an interlocutory injunction
against NexGen to prevent the Project from proceeding with the
environmental assessment process through the planned submission of
the Environmental Impact Statement.
NexGen continues to progress the development of a sustainable
and responsible Project, that in turn has the power to create
sustainable long-term benefit and opportunity for all local
communities in the Project Area over multiple generations.
Troy Boisjoli, Vice-President,
Exploration and Community, commented: "Since 2013, we have
been working with all of the communities local to the Project, as
evidenced by the successful development and implementation of
meaningful community programs focused on education, health and
wellness, and economic capacity building. NexGen has and always
will be committed to providing significant sustainable benefits and
opportunities in a respectful and responsible manner. Effective
partnerships developed with local communities is a key aspect of
that commitment, and we continue to welcome constructive
negotiations with the MN-S to deliver substantial benefits to the
members of the Métis Nation-Saskatchewan-Northern Region II across
all phases of the Project."
About NexGen
NexGen is a British Columbia corporation with a focus
on developing the Rook I Project located in the
southwestern Athabasca Basin, Saskatchewan,
Canada into production. Rook I hosts the Arrow Deposit with a
Measured Mineral Resources of 209.6 M lbs of
U3O8 contained in 2.18 M tonnes grading 4.35% U3O8,
Indicated Mineral Resources of 47.1 M lbs of
U3O8 contained in 1.57 M tonnes grading 1.36% U3O8,
and Inferred Mineral Resources of 80.7 M lbs of
U3O8 contained in 4.40 M tonnes grading 0.83%
U3O8. Arrow's development is supported by a NI 43-101
compliant Feasibility Study which outlines industry leading
environmental performance and economics.
NexGen has a highly experienced team of uranium industry
professionals with a successful track record in the discovery of
uranium deposits and in developing projects through discovery to
production. The Company is the recipient of the 2018 PDAC
Bill Dennis Award for Canadian mineral discovery and the 2019 PDAC
Environmental and Social Responsibility Award.
Forward-Looking Information
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 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 the activities, events or
developments that the Company expects or anticipates will or may
occur in the future. 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 in this press release includes, but is not limited to,
statements regarding use of proceeds.
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 proposed financing transaction will be completed, the results
of planned exploration activities are as anticipated, the price 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.
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, impact of
the COVID-19 pandemic, including related to the length, severity
and spread of the pandemic and measures taken by governmental
authorities and public health officials in respect of the pandemic,
the risk that pending assay results will not confirm previously
announced preliminary results, imprecision of mineral resource
estimates, the appeal of alternate sources of energy and sustained
low uranium prices, aboriginal title and consultation issues,
exploration risks, 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 licenses, changes in
laws, regulations and policy, competition for resources and
financing, and other factors discussed or referred to in the
Company's Annual Information Form dated March 19,
2021 under "Risk Factors".
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 implied by
forward-looking information, 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 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.
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content:https://www.prnewswire.com/news-releases/nexgen-community-update-301333388.html
SOURCE NexGen Energy Ltd.
