NexGen Energy Ltd.(TSX:NXE)

NexGen Energy Ltd.

Investor website: https://nexgenenergy.ca/homepage/default.aspx

About

NexGen Energy Ltd. is focused on securing the energy transition through its projects, particularly the Rook I uranium mine in Saskatchewan's Athabasca Basin. The company emphasizes elite environmental performance, progressive reclamation, and delivering generational benefits for stakeholders and the global environment.

Verified company data

Cash position
C$1.1B
Shares outstanding
661,006,566
Fully diluted shares
748,972,378
Mineral resource
Rook 1 Project Overview: The Rook I Project (Project) is the largest development-stage uranium project in Canada. The proposed new underground mine and mill development is located in the uranium-rich district of the southwestern area of the Athabasca Basin; located in Saskatchewan – a premier mining jurisdiction. Centred around the land-based, basement-hosted Arrow Deposit – one of the world’s leading resources – the Project maintains a robust economic profile and is being developed with elite ESG commitments focused on environmental protection and maximizing community benefit through a partnership approach. Project Approvals On November 18, 2024, NexGen reached a major milestone in the Federal Environmental Assessment (EA) process, whereby the CNSC provided NexGen formal confirmation that the Company has successfully addressed all information requests received as part of the Federal technical review. Completion of the Federal EA technical review stage follows the CNSC having deemed NexGen’s Federal licence application sufficient in September 2023, and receipt of Provincial EA approval in November 2023. Part 1 of the CNSC Hearing was held on November 19, 2025 and Part 2 is scheduled for February 9 to 13, 2026, subject to which the CNSC will render an approval decision on the Project. Assets Overview: Arrow Deposit Overview: Arrow The Rook I Project - host of the Arrow Deposit - is the largest development-stage uranium project in Canada and is 100% owned by NexGen Energy Ltd. Centred around the land-based, basement-hosted Arrow Deposit – one of the world’s leading resources – the Project maintains a robust economic profile and is being developed with elite ESG commitments focused on environmental protection and maximizing community benefit through a partnership approach. The Deposit is 100% owned by NexGen Energy Ltd., and the Project will be developed and operated by NexGen. Feasibility Study (FS): On February 17, 2021, NexGen released its independent Feasibility Study (FS) of the Rook I Project. The FS was completed in accordance with NI 43-101 and includes joint work by leading consultants including: Stantec Consulting Limited, Wood Canada Ltd., and Roscoe Postle Associates Inc., with other technical inputs completed by sub-consultants. Summary of the Feasibility Study Highlights: The FS considers the environmental and economic merits from the Arrow Deposit and places the Project as one of the leading global resource projects with an elite ESG profile. The Arrow Deposit’s unique geological profile and location allows for key optimizations development. The Project is designed as an underground mining operation, with conventional long hole stope mining methods. The economic base case was developed encompassing a fixed price of US $50/lb U3O8: PCE Overview: Patterson Corridor East (PCE) The uranium occurrence is situated only 3.5 km east of the world-class Tier 1 Arrow Deposit and shares several geological characteristics very analogous to Arrow. Initial results at PCE have indicated an expansive footprint with remarkable continuity of mineralization. Further, the observations of the drill core indicate a large, pervasive hydrothermal system. The system is open in most directions, with mineralization spanning over 600 m in strike length and 600 m vertical extent. As of summer 2025, 48 of the 79 drillholes are mineralized, including 34 intersecting high-grade (>10,000 cps) and 14 intersecting off-scale (>61,000 cps) Notable drillholes at PCE to date: RK-25-232 marks NexGen’s best discovery-phase assay intercept, with 15.0 m at 15.9% U3O8, including a peak intercept of 0.5 m at 68.8% U3O8. RK-25-207 intersected 9.5 m at 2.91% U3O8, including a peak intercept of 0.5 m at 28.2% U3O8. RK-25-222 intersected 17.0 m at 3.85% U3O8, including a peak intercept of 3.0 m at 10.1% U3O8. RK-25-227 intersected 11.5 m at 3.61% U3O8, including a peak intercept of 0.5 m at 31.0% U3O8. RK-25-244 intersected 17.0 m at 7.6% U3O8, including a peak intercept of 0.5 m at 58.1% U3O8. RK-25-254 intersected 10.5 m at 11.3% U3O8, including a peak intercept of 0.5 m at 56.2% U3O8. Geological Characteristics Hydrothermal alteration system analogous to Arrow Semi-massive to massive veins, fracture coatings, and disseminations (peak intercept of 0.5 m at 68.8% U3O8) hosted exclusively within crystalline basement rocks Well-developed hydrothermal fluid system – hematite, limonite, clay, and chlorite alteration Formation conditions linked to significant orebodies within the Athabasca Basin Bow Overview: The Bow Discovery On March 31, 2015 NexGen hit off-scale radioactivity 3.7 km northeast along the Patterson Lake Conductor corridor farther inside the Athabasca Basin. Drill hole BO-15-10 intersected 2.5 m total composite mineralization including 0.10 m off-scale radioactivity (>10,000 to 10,200 cps) within a 5.0 m section (206.5 to 211.5 m). The Bow Discovery was made by targeting geophysical signatures similar to Arrow coincident with 'breaks' in the VTEM conductor along with radon in water surveys. Harpoon Discovery, Rook 1, Overview: The Rook I property hosts the Harpoon Discovery located 4.7 km northeast of the Arrow Deposit which in discovery hole HP-16-08 intersected 17.5 m at 3.89% U3O8 (219.5 to 237.0 m) including 2.5 m at 12.49% U3O8 (224.5 to 227.0 m). Furthermore, hole HP-16-20, which was drilled 73 m up-dip and northeast from hole HP-16-08, intersected 13.5 m at 3.94% U3O8 (182.5 to 196.0 m) including 2.5 m at 20.90% U3O8 (187.0 to 189.5 m). This new discovery is land-based and is defined by strong visible uranium and dense accumulations of massive to semi-massive pitchblende mineralization (see Core Photo below). Within the Rook I property, uranium occurrences along trend have now been identified over a mineralized strike length of approximately 6 km. The known mineralized strike length from Spitfire to PLS is approximately 14 km, of which approximately 9 km lies within NexGen mineral dispositions. The Harpoon Discovery is located on a Rook I internal mineral disposition (northeast of green dashed line in Figure 1) which is subject to a 2% net smelter return royalty (the “NSR”) of which 1% can be repurchased by the Company for $1 million which is held by Advanced Royalty Corp. In addition, Harpoon is subject to a 10% production carried interest held by Terra Ventures Inc. which provides Terra Ventures with a right to 10% of potential future production provided Terra Ventures pays NexGen their 10% pro rata portion of the collective expenditure from June 20, 2005. South Arrow Overview: The Rook I property hosts the South Arrow Discovery located 400 m south of the Arrow Deposit, discovered in July 2017. Aggressive step out drilling at the recently discovered South Arrow has intersected significant high-grade mineralization in multiple holes, and has extended the strike length and vertical extent of high-grade mineralization to 290 m and 185 m, respectively. High-grade uranium mineralization occurs as accumulations of semi-massive to massive pitchblende similar to that seen in the high-grade domains of the Arrow Deposit. AR-17-166c1 (250 m up-dip and southwest of discovery hole AR-17-151c1) intersected 20.5 m at 1.19% U3O8 (182.0 to 202.5 m) including 3.5 m at 6.21% U3O8 (191.5 to 195.0 m) and an additional 24.5 m at 1.46% U3O8 (212.5 to 237.0 m) including 5.0 m at 4.21% U3O8 (221.0 to 226.0 m) and 4.0 m at 3.33% U3O8 (229.5 to 233.5 m). AR-17-160c1 (203 m up-dip and southwest of discovery hole AR-17-151c1) intersected 13.0 m at 2.18% U3O8 (221.5 to 234.5m) including 4.0 m at 6.79% U3O8 (227.0 to 231.0 m) and an additional 19.5 m at 0.34% U3O8 (191.5 to 211.0 m) including 4.0 m at 1.01% U3O8 (201.5 to 205.5 m). AR-17-163c1 (190 m up-dip and southwest of discovery hole AR-17-151c1) intersected 22.5 m at 1.07% U3O8 (241.0 to 263.5m) including 3.9 m at 5.56% U3O88 (256.4 to 260.3 m). AR-17-178c1 intersected 11.0 m at 2.17% U3O8 (149.0 to 160.0 m) including 3.5 m at 6.73% U3O8 (150.5 to 154.0 m) only 142 m below surface. SW1 Overview: Since the acquisition by NexGen of the SW1 property (the “Property”) in 2012, NexGen has systematically developed it through testing with numerous studies and geophysical surveys. The resulting geophysical signature on the Property, particularly the Gartner Corridor (“GC”), displays strong similarities to the Patterson Corridor (Figure 1) that hosts Arrow, the largest development-stage uranium deposit in Canada. Those similar characteristics include a strong conductive signature with numerous offsets coincident with discrete gravity lows and steep magnetic gradients (Figure 2). Analysis of historic drilling has also revealed prospective structure and alteration that coincides with highly favourable geophysical properties for potential uranium mineralization. NexGen conducted its maiden drill program on the property in 2019 and resumed drill testing on high priority targets in 2023. Geophysical History The Property is situated on the western limb of a regional fold with the Patterson Corridor and Arrow Deposit situated on the eastern limb (Figure 1). Historical drill core from the Property indicates the area contains similar host rocks as the Arrow Deposit. Given this geological affiliation, NexGen commissioned the same airborne geophysical techniques that led to the discovery of the Arrow Deposit in February 2014. A VTEM survey defined several discrete and disjointed conductive corridors on the Property, similar to what was seen at Arrow. Follow-up ZTEM surveys were conducted in conjunction with HeliFalcon gravity gradiometry surveys over the entire Property. These surveys defined additional corridors and numerous gravity anomalies, several of which are coincident with the dislocation of the conductors similar to the Arrow Deposit. The development of the Property has led to high confidence targets that are prime for focused exploration through drilling. SW2 Overview: Stage Project Development and Exploration Location Southwest Athabasca Basin The SW2 Property (the “Property”) is a group of contiguous land claims totaling 84,651 hectares, located in the Southwest Athabasca Basin, approximately 150 km north of La Loche. The Rook I Project, which hosts the Arrow Deposit, makes up the largest portion of the SW2 land package. In addition to the Arrow Deposit, the Property is host to the Bow, Cannon, South Arrow, and Harpoon discoveries. Since the acquisition of the Property in 2012, NexGen has conducted numerous geophysical surveys, particularly along the Patterson Corridor (“PC”), which currently hosts two major uranium deposits discovered since 2012, along with numerous other uranium showings. Geophysical surveys conducted under NexGen’s tenure include: DC Resistivity (2013) Ground Gravity (2013 and 2015) VLF-EM (2013 and 2016) VTEM (2014) Radon in Water (2015) Airborne Gravity (2016) ZTEM (2016) 3D Resistivity (2016 and 2017) Ground Gravity (2022) Hi-Res Magnetics (2023 and 2024) The resulting geophysical signatures on SW2, particularly the PC, have played an integral role in highlighting prospective target areas for uranium mineralization. This includes strong conductive signatures with numerous offsets coincident with discrete gravity lows and steep magnetic gradients. Drill testing geophysical targets of this nature has led to numerous uranium discoveries, including the high-grade Arrow Deposit which is the largest development-stage uranium deposit in Canada. Current Exploration Exploration is focused on discovery by assessing, prioritizing, and testing the best target areas. This includes the recent discovery on Patterson Corridor East (PCE) as well as structurally complex corridors elsewhere on the SW2 dispositions. All current target areas exhibit similar geophysical characteristics to Arrow – building from this successful exploration model and applying it rigorously. SW3 Overview: Since the acquisition of the SW3 Property (the “Property”) in 2012, NexGen has systematically advanced understanding and developed drill targets through numerous geophysical surveys, including: Radiometric and VLF-EM (2013) VTEM (2014 and 2016) Airborne Gravity (2015 and 2016) ZTEM (2016 and 2018) HeliSAM (2018) HeliSAM (2018) HeliTEM (2019) The geophysical surveys have defined conductive corridors with gravity anomalies coincident with breaks in the conductors. Several of the conductors lie parallel or proximal to the Dufferin Lake Fault, a known mineralized system that hosts Cameco’s Centennial Deposit. The geophysical signatures on the property, and interpreted structural kinematics of the Virgin River Shear Zone and Dufferin Lake Fault, have highlighted an abundance of prospective areas for uranium mineralization. Stage Exploration Location Southwest Athabasca Basin The SW3 Property (the “Property”) is a group of contiguous land claims totalling 40,178 hectares, located in the southwest Athabasca Basin, Saskatchewan. The property is situated along the Virgin River Shear Zone and Dufferin Lake Fault System. IsoEnergy Overview: NexGen's 32.9% owned subsidiary, IsoEnergy (www.isoenergy.ca) holds a highly prospective portfolio of uranium exploration projects in the historic eastern Athabasca Basin. The Company is currently advancing its Larocque East Project in Canada’s Athabasca Basin, which is home to the Hurricane deposit, boasting the world’s highest grade Indicated uranium Mineral Resource
Projects
["Rook I is a proposed uranium mine and mill development located in Saskatchewan’s southwestern Athabasca Basin. It will be a significant supplier of uranium to meet growing global demand for a zero emission clean energy source."]
Leadership
Board Overview Proven Leadership Christopher Mcfadden Chairman Richard Patricio Director Brad Wall Director Sybil Veenman Director Karri Howlett Director Warren Gilman Director Ivan Mullany Director Sharon Birkett Director Project Development Team Proven Leadership Graeme Johnson Chief Project Officer 30+ years’ experience leading multi-billion-dollar mining projects from design to execution. Chris Copley Project Director 20+ years’ experience delivering complex mining developments on time and on budget. Don Merriman VP, Engineering 30+ years’ experience leading large-scale EPC/EPCM engineering projects in mining. Lee Langlois Director, Construction 30+ years’ global project experience specializing in greenfield construction and execution. Becky Douglas Director, Procurement 25+ years’ experience leading procurement and supply chain for major projects. Chris Komperdo Area Manager 20+ years’ experience in underground mining, shaft sinking, and early operations. Nick Espenberg Director, Mine Technical Services 15+ years’ experience in underground mining, technical services, and operations planning. Blake Martel Sr Mine Engineer 7 years underground mining experience supporting projects through mine planning, engineering, and scope development. JS Michel Sr Engineer (Lead), Shafts 25+ years’ experience specializing in shaft engineering and construction. Dominik Hamel Shaft Superintendent 25+ years’ global shaft sinking and underground construction experience. Chad Sewell Director, Engineering 20+ years’ experience in engineering, project design, and execution across mining sectors. Chris Madsen Lead Mine Infrastructure 13+ years’ experience in engineering and project management for underground mining infrastructure. Bryan Dyck Lead Processing & Metallurgy 13+ years’ experience leading uranium processing and metallurgy programs. Jared Orynik Sr Project Metallurgist & Processing 20+ years’ mining and process experience across multiple commodities and jurisdictions. Marc Ouellette Manager, Contracts 15+ years’ experience in mining, oil & gas, and major project contract management. Ali Sheykholeslami Area Manager, Infrastructure 28+ years’ international experience delivering large-scale infrastructure projects. Executive and Leadership Team Proven Leadership Leigh R. Curyer Chief Executive Officer and Director Mr. Curyer has over 20 years experience in the resources and corporate sector. Mr. Curyer is the founder, President & Chief Executive Officer of NexGen Energy Ltd. and was previously the Head of Corporate Development for Accord Nuclear Resource Management assessing uranium projects worldwide for First Reserve Corporation, a global energy focused private equity and infrastructure investment firm. Prior to Accord, he was Chief Financial Officer and Head of Corporate Development of Southern Cross Resources, now Uranium One. Travis McPherson Chief Commercial Officer Mr. Travis McPherson is a Canadian born entrepreneur who has worked in the global natural resources sector for +15 years. He joined NexGen in early 2014 and has played an instrumental role in the growth of the organization over the past 11 years covering all facets of the business. Since joining NexGen, he has played an integral part in raising $1.5 billion in equity and structured strategic financings as well as creating IsoEnergy Ltd (ISO:TSX, ISOU:NYSE). He began his career in investment banking at Haywood Securities Inc. and then moved to the owner’s side in gold mining and development in Latin America. Ryan Podrasky Chief Financial Officer Mr. Podrasky is a CPA-designated finance executive with more than 25 years of leadership experience across the mining and oil and gas sectors. Prior to joining NexGen, he served as Chief Financial Officer of Elk Valley Resources (EVR), formerly the coal business of Teck Resources and now majority-owned by Glencore, where he led the finance function for a $10B+ revenue business that is the largest steelmaking coal producer in Canada and the second-largest seaborne supplier globally. Mr. Podrasky also served as a Board Director of Neptune Bulk Terminals (Canada) Ltd., where he chaired the Audit, Finance, and Insurance Committees. Monica Kras VP, Corporate Development Ms. Kras has over 12+ years of Capital Markets experience in both North American and European markets. She has been involved with hundreds of capital raises for publicly listed and private equities and brings a wealth of knowledge and a keen understanding of market dynamics. Simon Allard VP, Commercial Mr. Allard is known for his strong core geology, mining and process engineering expertise and broad financial experience in international arenas. Over the last 20+ years, he has proven his ability to lead multidisciplinary teams in identifying and developing large and small mining projects to determine intrinsic value and growth opportunities. During his career, he has held various senior roles in global organisations such as South32, Goldcorp, Amec Foster Wheeler and Teck. Most recently he was the Manager of the South32 Hermosa-Clark battery grade Manganese project in Arizona where he led the team in advancing the project from concept to execution. He was also the Ambler Joint Venture manager where he oversaw the technical committee and advised the JV board. Prior to these roles, he was Study Director at Goldcorp where he oversaw the financial evaluation and progression of the company’s pipeline of growth projects. Mr. Allard holds a bachelor degree in Mining Engineering and a Master in Mineral Economics from Laval University. He is also a CFA charter holder. Adam Engdahl VP, Community Mr. Engdahl has over a decade of exploration and project development experience, including community initiatives within the mining sector. Prior to joining NexGen in 2014, he was employed by Claude Resources Inc. where he played an integral role in the initial expansion and delineation of the Santoy Gap gold deposit for what is now SSR Mining’s richest gold deposit located in Saskatchewan. As NexGen’s Vice-President Community, Mr. Engdahl played an integral role in the successful negotiation and execution of industry leading Benefit Agreements between NexGen and First Nations local to the Rook I Project. Mr. Engdahl began his career managing exploration programs for Search Minerals Inc. where, in 2011, his team was awarded the Explorer/Prospector of the Year Award for Newfoundland and Labrador by the Canadian Institute of Mining, Metallurgy and Petroleum, Newfoundland and Labrador Branch. Mary Fraser VP, Communications Ms. Fraser is a seasoned strategic communications leader with extensive experience working with global brands in high-profile media environments. She led the media strategies for the 2010 Olympic Winter Games including sport events, public engagement initiatives, brand launches and issues management. She went on to work in the not-for-profit sector promoting national fundraising campaigns, and then the retail sector with lululemon, building consumer facing PR and organization-wide internal and external communications strategies to support rapid global growth. Dylan Smart VP, Regional Development Dylan Smart has over 20 years’ experience in the construction industry, starting his career in 2009 with Graham Construction, where he held several leadership roles including General Foreman and Junior Superintendent on various construction projects across Saskatchewan. In 2013, he transitioned to Iceland Concrete, a Saskatchewan based Indigenous owned and operated company, where he played an integral role in business development resulting the company’s strong presence for heavy industrial work across Western Canada. A passionate entrepreneur, he established SmartPath Safety Systems Ltd. in 2018, creating safety walkways for residential, commercial and industrial projects across Canada. Jason Craven VP, Exploration Mr. Craven has 20 years of geology and exploration experience, including 17 years in uranium exploration in the Athabasca Basin and an additional three years in gold exploration within the Pine Lake Greenstone belt in northern Saskatchewan. Prior to joining NexGen in 2021, Mr. Craven held the role of Senior Geologist with SSR Mining, responsible for exploration operations for mine support and new discoveries, based at Seabee Gold Operation in northern Saskatchewan. Mr. Craven has also worked as a Consultant for Axiom Exploration Group, and as a Project Geologist for Cameco where his experience included brownfields and greenfields discoveries across the Athabasca Basin, and exposure to global uranium districts. Michelle Cho VP, Finance Ms. Cho is an experienced Chartered Professional Accountant (CPA, CA) with 18 years of experience working primarily in the energy, utilities and transportation sectors. She has extensive experience in financial reporting, FP&A, regulatory compliance, process optimization, capital markets and treasury. She started her career at PwC with focus on the oil and gas / utilities sectors in Houston and Calgary and served as one of the key contributors to its Assurance Transformation Program in PwC Canada and U.S. Most recently, Ms. Cho held various leadership positions in finance departments at Atlas Corp where she brought multiple internal teams, third-party service providers and other stakeholders together to support a significant growth program and modernization of finance functions. Luke Moger VP, Environment, Permitting, Licensing. Mr. Moger is a professional engineer and project management professional with operational experience spanning field-level technical roles in mining operations and major capital projects through to acting as general manager for large remote mine sites. His on-site experience is complemented by his work in corporate settings on organizational initiatives, including having led major permitting and infrastructure projects, Indigenous partnership agreement implementation and operational excellence initiatives.

Verified data last updated: 2026-06-04

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