VANCOUVER, BC, June 15,
2023 /PRNewswire/ - NexGen Energy Ltd.
("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX:
NXG) is pleased to announce the signing of an Impact Benefit
Agreement ("IBA" or the "Agreement") with the Métis Nation –
Saskatchewan Northern Region 2 ("MN-S NR2") and the Métis Nation –
Saskatchewan ("MN-S"), covering
all phases of the Rook I Project ("Rook I" or the "Project"), which
hosts the 100% owned Arrow uranium deposit.
The signing of an IBA with the MN-S follows the signing of
Benefit Agreements with each of the Clearwater River Dene Nation
("CRDN"), Birch Narrows Dene Nation ("BNDN"), and Buffalo River
Dene Nation ("BRDN"). These four Nations collectively represent the
First Nation and Métis communities for which the Saskatchewan
Ministry of Environment assigned procedural aspects of the Duty to
Consult for the Project to NexGen, and which have been identified
by NexGen as the primary Indigenous Nations for consultation in
consideration of the federal requirements of the Canadian Nuclear
Safety Commission ("CNSC").
NexGen signs an historic IBA with the MN-S NR2 and the
MNS. The Project is located within an area to which the
MN-S NR2, as represented by the MN-S, assert constitutionally
protected Aboriginal rights and interests, including Métis title,
over certain lands and resources ("Rights"). The IBA defines the
environmental, cultural, economic, employment, and other benefits
to be provided to the MN-S NR2 and the MN-S by NexGen in respect of
the Project, and to confirm the consent and support of the MN-S NR2
and the MN-S for the Project throughout its complete lifecycle,
including reclamation. The Agreement was negotiated and developed
out of a Study Agreement that was signed in 2019 between NexGen,
the MN-S NR2, and the MN-S. The Study Agreement formalized
engagement with the MN-S NR2 to identify potential impacts to
Aboriginal 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. Further, the Study Agreement provided the MN-S NR2 and the
MN-S support to negotiate the IBA. Note, the IBA does not define or
amend, recognize, affirm, abrogate, derogate from, or deny the
existence of, or in any way limit any Rights of the MN-S NR2 and
the MN-S, but rather is entered into in recognition of such
Rights.
Leigh Curyer, Chief Executive Officer of NexGen,
commented: "The signing of this agreement is a testament
to the trust and respect that has been established between NexGen,
the MN-S NR2 and the MN-S to work in partnership with the mutual
objective of responsibly developing the Rook I Project. I would
like to acknowledge and thank Leonard
Montgrand, his board and the entire MN-S engagement team for
their diligence and commitment toward finalizing this
industry-leading Agreement alongside NexGen for the benefit of
their membership.
"This is a significant moment in the Project's history. Signing
the fourth community and final Benefit Agreement to ensure
sustainable generational impact through positive social, economic,
and transparent environmental outcomes that will extend well beyond
mine-dependent opportunities for all communities in the Local
Priority Area, the Province of Saskatchewan, and Canada. I am extremely proud of the dedication
and commitment of the NexGen organization and all four communities
to collaboratively design and implement a new industry-leading
approach and structure to genuine consultation and engagement. The
template of which, we are offering to share Canada-wide to other communities and
organizations collaborating on the successful development and
implementation of projects."
Leonard Montgrand, Regional
Director of MN-S Northern Region II commented: "This
agreement is a milestone in the history of the Métis
Nation. It not only recognizes the Métis as a
rights-holding people with strong ancestral connections to the
land, but also provides a mechanism for continuous engagement
on a breadth of important topics, including environmental and
social concerns, human resources, and support for Métis
businesses. After a century of our lands being developed
without consideration of our people, it was important to come
together as one Region and one Nation to change the status quo and
become a partner in the development of the Rook I
Project. NexGen's commitments in the IBA will set a
new standard for how industry recognizes Métis rights and engages
with the Métis Nation."
Glen McCallum, President of the Métis
Nation-Saskatchewan commented: "I wish to
congratulate Northern Region II and NexGen for all the work
involved in resolving the IBA, a landmark agreement for the
entire Métis Nation and an excellent example of what can be
achieved when we work together. Over the past five years, the
Métis Nation-Saskatchewan has had a string of transformative
accomplishments many thought impossible, and to this list we
are proud to add the IBA with NexGen. It is our understanding
this will be, by far, the largest Métis impact and benefit
agreement in Canadian history. Under the IBA, the Rook I
Project will respect our large, vibrant Métis
community and our rights and interests over the land,
while providing much-needed resources and opportunities
to Northern Region II. It will leave a substantial legacy that
can continue after the mine has closed and the lands have been
restored."
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.
Technical Disclosure
All technical information in this news release has been
reviewed and approved by Kevin
Small, NexGen's Senior Vice President, Engineering and
Operations, 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 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 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 24,
2023 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.