NexGen Announces Best Assays from Patterson Corridor East in Hole RK-25-232

NexGen Energy (NXE) announced its best discovery phase assay results to date from the Patterson Corridor East (PCE), including 15.0 m at 15.9% U3O8 with a peak intercept of 0.5 m at 68.8% U3O8 in drillhole RK-25-232, ranking among the world’s highest-grade basement-hosted uranium vein intercepts and validating the significance of the PCE. These results, along with 9 new high-grade intercepts added during the winter 2025 drill program, confirm the scale and continuity of the system, located 3.5 km from the future Rook I Project, reinforcing NexGen's commitment to advancing new uranium supply amid growing global nuclear energy initiatives.

Analysis

NexGen Energy Ltd. (TSX: NXE, NYSE: NXE, ASX: NXG) has announced its best discovery phase assay results to date from the Patterson Corridor East ("PCE"), significantly enhancing the project's potential. Drillhole RK-25-232 yielded an intercept of 15.0 meters at 15.9% U3O8, which included exceptionally high-grade sub-intervals of 3.0 meters at 47.8% U3O8 and a peak of 0.5 meters at 68.8% U3O8. This result is noted as one of the world's highest-grade basement-hosted uranium vein intercepts. Further validating the system's scale and continuity, drillhole RK-24-222, located 200 meters from RK-25-232, intersected 17.0 meters at 3.85% U3O8. The Winter 2025 drill program contributed significantly, adding 9 new high-grade intercepts, bringing the total to 13, and reinforcing confidence in the materiality of this emerging mineralization which remains open in most directions after 64 drillholes totaling 47,425.9 meters. The PCE mineralization is wholly hosted in competent basement rock, similar to the nearby Arrow deposit, and is located 3.5 km from the Rook I Project, which is in the final Federal approval stage. NexGen's CEO, Leigh Curyer, highlighted the results' timing with increasing global commitment to nuclear energy, including recent US executive orders aimed at accelerating nuclear energy deployment. While 75% of 2024 assay results have been received, further results are pending due to lab backlogs, and drilling at PCE is set to resume on June 1st, 2025.

Key Decisions for Investors

• Investors should consider the exceptionally high-grade assay results from PCE as a significant de-risking event that enhances NexGen's growth pipeline beyond the flagship Rook I project.
• The confirmed scale, high-grade nature, and continuity of mineralization at PCE, coupled with its proximity to the advanced Rook I project, may warrant a re-evaluation of NexGen’s long-term resource potential and intrinsic value.
• Monitor upcoming catalysts, including the remaining 2024 assay results, the outcomes of the resumed drilling at PCE from June 1st, 2025, and progress on the Rook I Project's federal approval, in light of the supportive macro environment for uranium driven by global energy policies.