NexGen Appoints Anthony (Tony) George as Chief Project Officer

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May 12, 2020, 06:30 ET

VANCOUVER, May 12, 2020 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE, NYSE MKT: NXE) is pleased to announce the appointment of Tony George to the position of Chief Project Officer. Mr. George will commence in mid June and be responsible for execution of the Company's 100% wholly owned Rook I Project through to production.

Leigh Curyer, Chief Executive Officer, commented: "Tony is a well respected and highly regarded mining professional that has extensive experience in all aspects of project execution through the entire mining life cycle. We are delighted to welcome Tony to the organization at this very exciting stage of NexGen's development. His experience in successfully building mines around the world will add significant value in optimizing the strong foundation built since the discovery of Arrow in February 2014. On behalf of the Board and Executive I would like to welcome Tony to NexGen, and look forward to working together to deliver Arrow and set a new elite standard globally for environmental, economic and social mining development."

Tony George P.Eng.

Tony is a mining engineer with over 35 years of experience in operations, project management and construction. Tony commenced his career with De Beers in South Africa and Namibia. In 1993 Tony came to Canada and has held senior positions at the Iron Ore Company of Canada in Labrador; Aura Minerals, working on projects in South America; as a lead consultant working on many international projects with Rescan Engineering and MRDI (AMEC); De Beers Canada where he was the mine general manager on the team that brought the Victor open pit diamond project through feasibility, engineering and construction; and Vice President Project Development at Lucara Diamond Corp, where he was responsible for taking the Karowe Mine in Botswana from feasibility study, though engineering and construction, into operations. Tony was Vice President Project Development at Lundin Gold where he was responsible for all aspects of the feasibility study for the advancement and development of the Fruta del Norte project in Ecuador. Prior to joining NexGen, Tony served as Vice President Project Execution with Victoria Gold Corp. where he oversaw the Eagle Mine through detailed engineering and construction which was successfully completed ahead of schedule and on budget on June 2019.

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. 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.

NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada; including a 100% interest in Rook I, location of the Arrow Deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC's 2018 Bill Dennis Award and the 2019 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 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 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, 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 11, 2020 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.

SOURCE NexGen Energy Ltd.