VANCOUVER, April 18, 2017 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX:NXE, OTCQX:NXGEF) is pleased to report results from 18 drill holes from the on-going winter 2017 drilling program on our 100% owned, Rook I property, Athabasca Basin, Saskatchewan.

Highlights:

Northeast A3 Shear

• Step out scissor hole AR-17-136c2 (170 m northeast and up-dip from AR-15-57c2 and 70 m northeast and up-dip from the edge of the A3 High Grade Domain) intersected 26.0 m of total composite mineralization including 6.7 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) featuring 5.3 m of continuous massive to semi-massive pitchblende including 2.0 m at a minimum-of-greater-than 61,000 cps within a 59.0 m section (399.5 to 458.5 m). This hole is marked by dense accumulations of massive to semi-massive pitchblende mineralization and is the strongest zone of mineralization encountered in the A3 shear to date. This newly discovered area is open to the northeast.
• Infill scissor hole AR-17-121c2 (75 m up-dip from AR-15-57c2) intersected 65.5 m of total composite mineralization including 9.7 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) featuring 0.5 m at a minimum-of-greater-than 61,000 cps within an 86.5 m section (473.5 to 560.0 m).
• Infill scissor hole AR-17-121c1 (45 m up-dip from AR-15-57c2) intersected 81.0 m of total composite mineralization including 6.0 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 106.0 m section (481.0 to 587.0 m).

Northeast A2 Shear

• Step out scissor hole AR-17-118c2 (180 m northeast and down-dip from AR-15-44b) intersected 49.0 m of total composite mineralization including 6.1 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 61.0 m section (691.5 to 752.5 m) within a gap in a northeast part of the Mineral Resource domains.
• Step out hole AR-17-119c2 (200 m northeast and down-dip from AR-15-44b) intersected 39.0 m of total composite mineralization including 1.65 m of total composite off-scale radioactivity (>10,000 to 49,000 cps) within an 80.5 m section (549.5 to 630.0 m).
• Step out hole AR-17-127c2 (255 m northeast and down-dip from AR-15-44b) intersected 18.5 m of total composite mineralization including 1.6 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 128.5 m section (662.5 to 791.0 m).
• Infill scissor hole AR-17-121c1 (172 m northeast and down-dip from AR-15-44b) intersected 58.0 m of total composite mineralization including 5.9 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 149.5 m section (636.5 to 786.0 m).

Northeast A4 Shear

• Step out scissor hole AR-17-129c1 (90 m northeast and up-dip from AR-15-41 and 30 m northeast of the A4 Mineral Resource domains) intersected 33.5 m of total composite mineralization including 2.7 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 60.0 m section (763.5 to 823.5 m).

Arrow, Activities & Financial

• The 2017 winter program comprising a minimum of 35,000 m of drilling with seven drill rigs will continue until the end of April.
• None of the drilling completed in 2017 was included in the NI 43-101 Updated Mineral Resource estimate for the Arrow Deposit released on March 6, 2017.
• The Company has cash on hand of approximately $58 million.

Longitudinal sections and a plan map showing drill hole locations are shown in Figures 1 to 3.  A photo of the new high grade mineralization intersected in AR-17-136c2 is included in Figure 4. Table 1 is a summary of the mineralized intervals.

Garrett Ainsworth, Vice-President, Exploration and Development, commented: "Drilling has been very successful in significantly expanding mineralization at Arrow on several fronts.  The discovery of massive to semi-massive pitchblende mineralization encountered in hole AR-17-136c2 in the A3 shear looks identical to that found in the A2 Sub-Zone. The higher grade A2 Sub-Zone is located southwest of an interpreted cross cutting structure, and it appears that a similar Sub-Zone may be developing within the A3 shear to the northeast of this same cross cutting structure.  Further step outs into the northeast gap of the A2 shear have returned additional high grade intervals, where we expect mineralization to continue further northeast and down-dip to drill hole AR-15-50.  Scissor drill holes stepping out and within the A2 and A3 High Grade Domains continues to exceed our expectations."

Leigh Curyer, Chief Executive Officer, commented: "Drilling at Arrow continues to highlight how much room remains for material growth within the footprint of mineralization as well to the northeast demonstrated by today's results. Together with ongoing expansion the team is simultaneously undertaking engineering and environmental studies to determine to optimal development scenario for Arrow."

Table 1: Arrow Deposit Drill Hole Data

Parameters:

• Maximum internal dilution 2.00 m downhole
• All depths and intervals are meters downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be estimated.
• "Anomalous" means >500 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
• "Off-scale" means >10,000 cps (counts per second) total count gamma readings by gamma scintillometer type RS-120
• Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval

Arrow Deposit Drilling

AR-17-114c3

Hole AR-17-114c3 was a directional scissor hole that departed pilot hole AR-17-114c2 at a depth of 595 m. The hole was designed to test the A2 shear 60 m down-dip of AR-16-96c2 (4.17% U3O8 over 57.5 m in the A2 shear). Directional drilling was initiated at 606 m. The A2 shear was intersected at an inclination of -72°.

Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic and relatively narrow intervals of pelitic gneiss and mylonite (the A2 shear). Anomalous to strongly anomalous radioactivity was intersected in the A2 shear in association with stringers, fracture, and foliation-controlled pitchblende mineralization. A total composite mineralization of 23.0 m including 1.25 m of off-scale radioactivity (>10,000 to >43,000 cps) was intersected within a 87.5 m section (639.0 m to 726.5 m), all in the A2 shear. The hole was terminated at 792.5 m.

AR-17-118c2

Hole AR-17-118c2 was a directional scissor hole that departed pilot hole AR-17-118c1 at a depth of 207 m. The hole was designed to test the A2 shear 45 m down-dip and northeast of AR-15-53c3 (1.38% U3O8 over 24.5 m, 3.37% U3O8 over 8.5 m, and 1.87% U3O8 over 9.5 m in the A2 shear) and the A3 shear 20 m down-dip and southwest of AR-15-57c2 (5.89% U3O8 over 29.5 m in the A3 shear). Directional drilling was initiated at 250 m. The A2 and A3 shears were both intersected at an inclination of -67°.

Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). Anomalous to strongly anomalous radioactivity was intersected in the A2 through A4 shears in association with stringers, disseminated, fracture-controlled, and semi-massive to massive pitchblende mineralization. A total composite mineralization of 101.5 m including 11.7 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 294.0 m section (458.5 to 752.5 m). In the A2 shear, 49.0 m of composite mineralization including 6.1 m of off-scale radioactivity was intersected. In the A3 shear, 46.5 m of composite mineralization including 5.25 m of off-scale radioactivity was intersected. An additional 6.0 m of composite mineralization including 0.35 m of off-scale radioactivity was intersected in the A4 shear. The hole was terminated at 828.5 m.

AR-17-119c2

Hole AR-17-119c2 was a directional hole that departed pilot hole AR-17-119c1 at a depth of 205 m. The hole was designed to test the A2 shear 95 m down-dip and southwest of AR-17-119c1 (1.15 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 222 m. The A2 and A3 shears were intersected at inclinations of -71° and -70° respectively.

Basement lithologies were intersected beginning at the top of the hole and consisted largely of semi-pelitic gneiss to granofel and relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, foliation-controlled, fracture-controlled, and semi-massive pitchblende mineralization. A total composite mineralization of 98.5 m including 3.7 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 630.5 m section (381.5 to 1012.0 m). In the A1 shear, 47.5 m of composite mineralization including 0.2 m of off-scale radioactivity was intersected. In the A2 shear, 39.0 m of composite mineralization including 1.65 m of off-scale radioactivity was intersected. In the A3 shear, 10.5 m of composite mineralization including 1.85 m of off-scale radioactivity was intersected. An additional 1.5 m of composite mineralization was intersected in the A4 shear. The hole was terminated at a depth of 1065.5 m.

AR-17-120c1

Hole AR-17-120c1 was a directional scissor hole collared from the surface at an angled orientation (-70°) to the northwest (327° Azimuth). It was designed to test the A2 shear 95 m down-dip and southwest of AR-15-59c5 (0.29% U3O8 over 24.0 m in the A2 shear). Directional drilling was initiated at 282 m. The A2 shear was intersected at an inclination of -67°.

The hole intersected bleached Athabasca Group sandstones between 106.0 m and the unconformity at 114.80 m. Basement lithologies dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A3 shear in association with disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 6.5 m including 0.6 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 130.5 m section (534.5 to 665.0 m), all in the A3 shear. The hole was terminated at a depth of 846.5 m.

AR-17-120c2

Hole AR-17-120c2 was a directional scissor hole that departed pilot hole AR-17-120c1 at a depth of 286 m. It was designed to test the A2 shear 65 m down-dip of AR-17-120c1. Directional drilling was initiated at 295 m. The A3 shear was intersected at an inclination of -71°.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A3 shears). The hole successfully intersected anomalous radioactivity in the A3 and A4 shears in association with disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 5.0 m was intersected within a 184.5 m section (534.5 to 719.0 m). In the A3 shear, 4.0 m of composite mineralization was intersected. In the A4 shear, 1.0 m of composite mineralization was intersected. The hole was terminated at a depth of 864.5 m.

AR-17-121c1

Hole AR-17-121c1 was a directional scissor hole collared from the surface at an angled orientation (-70°) to the northwest (327° Azimuth). The hole was designed to test the A2 shear 25 m up-dip and northeast of AR-16-118c2 (6.1 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 45 m up-dip of AR-15-57c2 (5.89% U3O8 over 29.5 m in the A3 shear). Directional drilling was initiated at 249 m. The A2 and A3 shears were both intersected at an inclination of -71°.

The hole intersected bleached Athabasca Group sandstones between 122.8 m and the unconformity at 134.1 m. Basement lithologies largely consisted of semi-pelitic gneisses with narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected strongly anomalous radioactivity in the A2 through A3 shears in association with stringers, disseminated, foliation-controlled and fracture-controlled mineralization. A total composite mineralization of 143.0 m including 12.0 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 331.0 m section (455.0 to 786.0 m). In the A2 shear, 58.0 m of composite mineralization was intersected including 5.9 m of off-scale radioactivity. In the A3 shear, 81.0 m of composite mineralization was intersected including 6.0 m of off-scale radioactivity. In the A4 shear, 4.0 m of composite mineralization was intersected including 0.1 m of off-scale radioactivity. The hole was terminated at a depth of 816.5 m.

AR-17-121c2

Hole AR-17-121c2 was a directional hole that departed pilot hole AR-17-121c1 at a depth of 262 m. It was designed to test the A3 high-grade domains as a scissor hole immediately adjacent to AR-14-08 (2.51% U3O8 over 10.0 m and 2.94% U₃O₈ over 6.2 m in the A3 shear). Directional drilling was initiated at 387 m. The A3 shear was intersected at an inclination of -68°.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 and A3 shears in association with disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 104.0 m including 11.6 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 286.0 m section (473.5 to 759.5 m). In the A2 shear, 33.5 m of composite mineralization was intersected including 1.9 m of off-scale radioactivity. In the A3 shear, 65.5 m of composite mineralization including 9.7 m of off-scale radioactivity was intersected. An additional 5.0 m of composite mineralization was intersected in the A1 shear. The hole was terminated at a depth of 813.5 m.

AR-17-126c1

Hole AR-17-126c1 was a scissor hole collared from surface at an angled orientation (-70°) to the northwest (327° Azimuth). It was designed to test the A3 shear 32 m up-dip and northeast of AR-17-116c1 (6.5 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 195 m. The A2 and A3 shears were both intersected at inclinations of -67°.

The hole intersected strongly bleached Athabasca Group sandstones between 119.5 m and the unconformity at 131.7 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 and A3 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 63.0 m including 1.25 m of off-scale radioactivity (>10,000 to 56,500 cps) was intersected within a 409.0 m section (397.5 to 806.5 m). In the A2 shear, 17.5 m of composite mineralization was intersected. In the A3 shear, 37.0 m of composite mineralization was intersected including 1.25 m of off-scale radioactivity. An additional 8.5 m of composite mineralization was intersected in the A1 shear. The hole was terminated at 831 m.

AR-17-126c2

Hole AR-17-126c2 was a directional scissor hole that departed pilot hole AR-17-126c1 at a depth of 207 m. It was designed to test the A3 shear 43 m up-dip and northeast of AR-17-121c2 (9.7 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 306 m. The A3 shear was intersected at an inclination of -70°.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of pelitic gneiss and mylonite (the A3 shear). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A3 shear in association with stringers, disseminated, and fracture-controlled pitchblende mineralization. A total composite mineralization of 37.5 m including 3.65 m of off-scale radioactivity was intersected within a 100.0 m section (426.5 to 526.5 m), all in the A3 shear. The hole was terminated at a depth of 543 m.

AR-17-127c1

Hole AR-17-127c1 was collared from surface at an angled orientation (-67°) to the southeast (147° Azimuth). It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 40 m down-dip and northeast of AR-17-119c2 (1.65 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 201 m. The A2 and A3 shears were both intersected at inclinations of -67°.

The hole intersected bleached Athabasca Group sandstones between 93.0 m and the unconformity at 117.9 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 56.5 m including 0.7 m of off-scale radioactivity (>10,000 to 28,000 cps) was intersected within a 379.0 m section (478.0 to 857.0 m). In the A1 shear, 14.5 m of composite mineralization was intersected including 0.6 m of off-scale radioactivity. In the A2 shear, 21.5 m of composite mineralization was intersected including 0.1 m of off-scale radioactivity. In the A3 shear, 20.5 m of composite mineralization was intersected. The hole was terminated at 882.5 m.

AR-17-127c2

Hole AR-17-127c2 was a directional hole that departed pilot hole AR-17-127c1 at a depth of 205 m. It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 85 m down-dip and northeast of AR-17-119c2 (1.65 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 205 m. The A2 and A3 shears were both intersected at inclinations of -70°.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 46.5 m including 1.75 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 384.5 m section (507.0 to 891.5 m). In the A1 shear, 2.5 m of composite mineralization was intersected. In the A2 shear, 18.5 m of composite mineralization was intersected including 1.6 m of off-scale radioactivity. In the A3 shear, 25.5 m of composite mineralization including 0.15 m of off-scale radioactivity was intersected. The hole was terminated at a depth of 954.5 m.

AR-17-129c1

Hole AR-17-129c1 was a scissor hole collared from surface at an angled orientation (-70°) to the northwest (327° Azimuth). It was designed to test the A4 shear 90 m up-dip and northeast of AR-15-41 (4.30% U3O8 over 20.5 m in the A4 shear). The A4 shear was intersected at an inclination of -66°.

No Athabasca Group sandstones were encountered and basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 through A5 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 66.0 m including 4.4 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 328.5 m section (670.0 to 998.5 m). In the A2 shear, 10.5 m of composite mineralization was intersected. In the A3 shear, 21.0 m of composite mineralization was intersected including 1.6 m of off-scale radioactivity. In the A4 shear, 33.5 m of composite mineralization was intersected including 2.7 m of off-scale radioactivity. An additional 1.0 m of composite mineralization including 0.1 m of off-scale radioactivity was intersected in the A5 shear. The hole was terminated at 1074.5 m.

AR-17-129c2

Hole AR-17-129c2 was a directional hole that departed pilot hole AR-17-129c1 at 495 m. It was designed to test the A4 shear 120 m up-dip of AR-15-41 (4.30% U3O8 over 20.5 m in the A4 shear) with an additional A3 intersection 90 m up-dip of AR-15-39 (2.27% U3O8 over 29.5 m in the A3 shear). Directional drilling was initiated at 510 m. The A3 and A4 shears were both intersected at an inclination of -58°.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A2 through A5 shears in association with stringers, disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 49.5 m including 1.25 m of off-scale radioactivity (>10,000 to 57,000 cps) was intersected within a 392.0 m section (603.5 to 995.5 m). In the A2 shear, 6.5 m of composite mineralization was intersected. In the A3 shear, 28.5 m of composite mineralization was intersected including 0.15 m of off-scale radioactivity. In the A4 shear, 8.5 m of composite mineralization was intersected including 1.1 m of off-scale radioactivity. In the A1 and A5 shears, an additional 1.0 m and 5.0 m of composite mineralization was intersected respectively. The hole was terminated at a depth of 1002.5 m.

AR-17-133c1

Hole AR-17-133c1 was collared from surface at an angled orientation (-67°) to the southeast (147° Azimuth). It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 77 m northeast of AR-17-119c2 (1.65 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 270 m. The A2 and A3 shears were both intersected at inclinations of -65°.

The hole intersected bleached Athabasca Group sandstones between 99.0 m and the unconformity at 110.45 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, foliation-controlled, and fracture-controlled pitchblende mineralization. A total composite mineralization of 46.5 m including 0.1 m of off-scale radioactivity (>10,000 to 12,000 cps) was intersected within a 314.0 m section (437.0 to 751.0 m). In the A1 shear, 29.0 m of composite mineralization was intersected. In the A2 shear, 8.5 m of composite mineralization was intersected including 0.1 m of off-scale radioactivity. In the A3 shear, 9.0 m of composite mineralization was intersected. The hole was terminated at 864.5 m.

AR-17-133c2

Hole AR-17-133c2 was a directional hole that departed pilot hole AR-17-133c1 at 252 m. It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 60 m up-dip and northeast of AR-17-127c2 (1.6 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 270 m. The A1 through A3 shears were intersected at inclinations of -70°, -69°, and -69° respectively.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A4 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A4 shears in association with disseminated, fracture-controlled, and foliation-controlled pitchblende mineralization. A total composite mineralization of 115.5 m including 0.25 m of off-scale radioactivity (>10,000 to 21,000 cps) was intersected within a 451.0 m section (479.0 to 930.0 m). In the A1 shear, 46.5 m of composite mineralization was intersected. In the A2 shear, 64.0 m of composite mineralization was intersected including 0.25 m of off-scale radioactivity. In the A3 shear, 4.5 m of composite mineralization was intersected. An additional 0.5 m of composite mineralization was intersected in the A4 shear. The hole was terminated at a depth of 981.5 m.

AR-17-136c1

Hole AR-16-136c1 was a scissor hole collared from surface at an angled orientation (-70°) to the northwest (327° Azimuth). It was designed to test the A3 shear 30 m northeast of AR-17-116c1 (6.5 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 201 m. The A3 shear was intersected at an inclination of -69°.

The hole intersected bleached Athabasca Group sandstones between 112.1 m and the unconformity at 128.4 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A3 shear). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A3 shear in association with stringers, disseminated, and fracture-controlled pitchblende mineralization. A total composite mineralization of 17.0 m including 0.9 m of off-scale radioactivity (>10,000 to 34,000 cps) was intersected within a 66.0 m section (432.5 to 498.5 m), all within the A3 shear. The hole was terminated at 567 m.

AR-17-136c2

Hole AR-17-136c2 was a directional hole that departed pilot hole AR-17-136c1 at 204 m. It was designed to test the A3 shear 50 m northeast and up-dip of AR-17-116c1 (6.5 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 216 m. The A1 through A3 shears were all intersected at inclinations of -66°.

Basement lithologies were intersected from the top of the hole and dominantly consisted of semi-pelitic gneiss with relatively narrow intervals of pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with stringers, disseminated, fracture-controlled, foliation-controlled, and massive pitchblende mineralization. A total composite mineralization of 43.5 m including 7.35 m of off-scale radioactivity (>10,000 to >61,000 cps) was intersected within a 404.5 m section (399.5 to 804.0 m). In the A1 shear, 4.5 m of composite mineralization was intersected including 0.15 m of off-scale radioactivity. In the A2 shear, 12.5 m of composite mineralization was intersected including 0.5 m of off-scale radioactivity. In the A3 shear, 26.0 m of composite mineralization was intersected including 6.7 m of off-scale radioactivity anchored by dense accumulations of massive pitchblende. An additional 0.5 m of composite mineralization was intersected northwest of the A1 shear. The hole was terminated at a depth of 849 m.

AR-17-138c1

Hole AR-16-138c1 was collared from surface at an angled orientation (-70°) to the southeast (147° Azimuth). It was designed to test the gap area to the northeast of the Arrow Deposit resource domains, 120 m northeast of AR-17-127c2 (1.6 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 201 m. The A2 shear was intersected at an inclination of -70°.

The hole intersected strongly bleached Athabasca Group sandstones between 75.5 m and the unconformity at 102.8 m. Basement lithologies largely consisted of semi-pelitic gneisses with relatively narrow intervals of graphitic pelitic gneiss and mylonite (the A1 through A3 shears). The hole successfully intersected anomalous to strongly anomalous radioactivity in the A1 through A3 shears in association with disseminated and fracture-controlled pitchblende mineralization. A total composite mineralization of 111.0 m was intersected within a 372.0 m section (532.0 to 904.0 m). In the A1 shear, 8.5 m of composite mineralization was intersected. In the A2 shear, 89.5m of composite mineralization was intersected. In the A3 shear, 13.0 m of composite mineralization was intersected. The hole was terminated at 936 m.

Technical Information

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-120 gamma-ray scintillometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals. All intersections are downhole.

Split core samples will be taken systematically, and intervals will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis. All samples sent to SRC will be analyzed using ICP-MS for trace elements on partial and total digestions, ICP-OES for major and minor elements on a total digestion, and fusion solution of boron by ICP-OES. Mineralized samples are analyzed for U₃O₈ by ICP-OES and select samples for gold by fire assay. Assay results will be released when received and after stringent internal QA/QC protocols are passed.

All scientific and technical information in this news release has been prepared by or reviewed and approved by Mr. Garrett Ainsworth, P.Geo., Vice President – Exploration & Development for NexGen. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols.

For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the mineral resource set forth below please refer to the technical report entitled "Technical Report on the Rook 1 Property, Saskatchewan, Canada" dated effective March 31, 2017 (the "Rook 1 Technical Report") prepared by Mark B. Mathisen and David Ross, each of whom is a "qualified person" under NI 43-101. The Rook I Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com.

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 highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Discovery in February 2014 and Bow Discovery in March 2015 and the Harpoon discovery in August 2016. The Arrow Deposit's March 2017 Mineral Resource estimate (effective December 20, 2016) comprises an Indicated Mineral Resource of 179.5 M lbs U3O8 contained in 1.18 M tonnes grading 6.88% U3O8 and an Inferred Mineral Resource of an additional 122.1 M lbs U3O8 contained in 4.25 M tonnes grading 1.30% U3O8.

This news release contains "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, including, without limitation, planned exploration activities. 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 connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely 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 events or results in future periods to differ materially from any projections of future events or results 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 additional financing, no known mineral reserves, assay results may not be consistent with preliminary results, alternative sources of energy, aboriginal title and consultation issues, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

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.

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