VANCOUVER, BC, Nov. 9, 2021 /PRNewswire/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG)
is pleased to announce that the Company has awarded the
engineering, procurement, and construction management ("EPCM")
contract for the FEED stage of the Rook I Project to Hatch with
work well underway. Hatch is a global leader in project
management and engineering with extensive experience delivering
mining projects in Saskatchewan
and across Canada.
The awarding of the EPCM contract comes at the conclusion
of a rigorous and competitive tender process involving multiple
globally recognized industry firms. Integrating fully into the
owner's team, Hatch is responsible for providing NexGen with
engineering, procurement, and execution planning services, along
with supporting overall project management.
Following the successful completion of the Rook I Feasibility
Study in February of this year (see News Release), NexGen is
transitioning into the next stage of advanced project development
with the commencement of FEED. In line with the optimized
project execution strategy, the FEED stage will advance overall
engineering to a 40-45% level of completion with associated cost
estimate, fully define long-lead procurement actions, and further
refine execution planning to prepare the Project for the pending
construction stage. This FEED stage is scheduled for
completion in Q3 2022 and will be undertaken concurrently with
the engagement, Environmental Assessment ("EA") and Licensing
workstreams.
The 2021 Site Investigation program is advancing safely and as
planned as a pre-cursor for FEED. Surface investigation field
work is now complete, which consisted of test pits and sonic
boreholes in locations of planned infrastructure. The
collection of confirmational geological, geotechnical, and
hydrogeologic characterization data is nearing completion, and
early analysis of this data has validated the current designs
established in the Feasibility Study and confirms the understanding
of the rock mass proximal to the underground infrastructure and
Underground Tailings Management Facility ("UGTMF"). Updates
on both the 2021 Site Investigation program as well as the regional
greenfields exploration program are scheduled to be released prior
to year end.
Leigh Curyer, Chief Executive Officer,
commented: "Advancing into the FEED stage of development
is another exciting milestone for the Company, and we're pleased to
welcome Hatch to NexGen's growing high performance team in
advancing the Rook I project towards the start of
construction. Hatch's exemplary reputation in the global
mining sector and deep understanding of value-driven project
delivery aligns perfectly with NexGen's commitment to elite
standards and is a key step in the development of this leading
global resource project. In parallel, the drafting of the Project's
Environmental Impact Study and licensing workstreams nearing
completion, together with regional exploration targeting new zones
of potential "Arrow-type" mineralization, further exemplifies the
NexGen team's commitment to the successful execution of multiple
workstreams."
Tony George, Chief Project
Officer, commented: "The project team is excited to be
partnering with Hatch – a company whose culture and project
development ethic fits perfectly with NexGen's vision and
values. As we continue to progress through development
milestones, it's rewarding to see top talent being attracted to our
team in Saskatoon due to NexGen's
growing reputation for Elite Standards in all that we do."
About Hatch
Whatever our clients envision, our engineers can design and build.
With over six decades of business and technical experience in the
mining, energy, and infrastructure sectors, we know your business
and understand that your challenges are changing rapidly. We
respond quickly with solutions that are smarter, more efficient and
innovative. We draw upon our 9,000 staff with experience in over
150 countries to challenge the status quo and create positive
change for our clients, our employees, and the communities we
serve.
Find out more on www.hatch.com
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. The Rook I Project is supported by a
NI 43-101 compliant Feasibility Study which outlines elite
environmental performance as well as industry leading economics.
Rook I hosts the Arrow Deposit that hosts 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. .
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.
www.nexgenenergy.ca
Technical Disclosure
All technical information in this news release has been
reviewed and approved by Anthony ( Tony) George ,
P.Eng, NexGen's Chief Project Officer, a qualified person under
National Instrument 43-101.
A technical report in respect of the FS is filed on SEDAR
( www.sedar.com ) and EDGAR
(www.sec.gov/edgar.shtml ) and is available for review on
NexGen Energy's website (www.nexgenenergy.ca ).
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 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 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 March 11, 2020 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.
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SOURCE NexGen Energy Ltd.
