Canada NewsWire

VANCOUVER, Oct. 13, 2015

VANCOUVER, Oct. 13, 2015 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to report radioactivity results from nine holes from our on-going summer 2015 drilling program on our 100% owned Rook I property, Athabasca Basin, Saskatchewan.

Multiple drill holes have intersected substantial off-scale radioactivity at Arrow as rapid expansion of the high grade mineralization continues. Hole AR-15-59c2 has intersected dense accumulations of massive and semi-massive pitchblende 130 m southwest of AR-15-44b in the A2 high grade shear (see drill core images: http://www.nexgenenergy.ca/s/photo-gallery.asp) . The hole has expanded the known extents of the newly defined higher grade sub-zone within the A2 core where the strike length has increased by 49 m (from 113 to 162 m). This zone remains open to the southwest. Figure 3 shows the long section intercept of AR-15-59c2, and Table 1 compares it to other drill holes within the higher grade sub-zone of the A2 shear.

Additionally, hole AR-15-57c3 intersected strong off-scale radioactivity in both the A2 and A3 shears while AR-15-54c4 intersected strong off-scale radioactivity in the A2 shear. The expanded 30,000 m summer 2015 drill program continues with the Company focusing on continuing to define the higher grade sub-zone within the A2 core as well as infilling the A2 through A4 southwest extensions of Arrow.

Highlights:

A2 Shear

• AR-15-59c2 (130 m step-out up-dip and southwest from AR-15-44b) intersected 70.0 m of total composite mineralization including 16.9 m of off-scale radioactivity (10,000 - >61,000 cps) within a 122.0 m section (469.0 to 591.0 m) in the A2 shear anchored by near continuous semi-massive to massive pitchblende mineralization over 7 m (524.3 – 531.3 m).
• AR-15-57c3 (81 m step-out up-plunge northeast from AR-15-44b) intersected 62.5 m of total composite mineralization including 8.7 m of off-scale radioactivity (>10,000 to >61,000 cps) within a 76.5 m section (364.5 to 441.0 m) in the A2 shear.
• AR-15-54c4 (125 m step-out down-plunge southwest from AR-15-44b) intersected 72.5 m of total composite mineralization including 5.9 m of off-scale radioactivity (>10,000 to >61,000 cps) within a 102.5 m section (601.5 to 704.0 m) in the A2 shear.

A3 Shear

• AR-15-57c3 (51 m step-out down-plunge and southwest from AR-14-57c2) intersected 64.5 m of total composite mineralization including 9.75 m of off-scale radioactivity (>10,000 – 54,000 cps) within a 106.5 m section (562.0 to 668.5 m) in the A3 shear.
• The land-based and basement hosted Arrow zone currently covers an area of 645 m by 235 m with a vertical extent of mineralization commencing from 100 m to 920 m, and remains open in all directions and at depth;
• The 2015 summer program has been further expanded to now over 30,000 m and scheduled to conclude late October;
• The Company has cash on hand of approximately $20M

Garrett Ainsworth, NexGen's Vice-President, Exploration and Development, commented, "Our systematic testing of Arrow continues to prove up broad intervals of high grade mineralization across the A2 to A4 shears as well as defining an even higher grade sub-zone within the A2. These latest results are highlighted by substantial accumulations of dense massive to semi-massive pitchblende in hole AR-15-59c2, which has significantly increased the strike length of the higher grade A2 sub-zone from 113 to 162 m. This higher grade A2 sub-zone is sub-vertically dipping with a shallow to horizontal plunge to the southwest, and is highlighted by strong continuity of high-grade mineralization."

Leigh Curyer, Chief Executive Officer commented, "Arrow continues to deliver outstanding results over a broad area of mineralization. The emergence of the higher grade sub zone within the A2 is just one of a number of exciting developments at Arrow. The summer program being expanded for a second time is a function of the drilling success and efficiency of the entire NexGen team and contractors working together in such a committed manner."

Drill hole locations, and the A2 and A3 long sections are shown in Figures 1 to 4, and Table 2 has a summary of the mineralized intervals

Table 2: Arrow Zone Drill Hole Data

Parameters:

• Maximum internal dilution 2.00 m downhole
• All depths and intervals are meters downhole
• "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

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. Core interval measurements and true thicknesses are yet to be determined.

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 the partial and total digestions, ICP-OES for major and minor elements on the 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.

ARROW ZONE DRILLING

AR-15-54c4

Hole AR-15-54c4 was a directional hole that departed from pilot hole AR-15-54c3 at a depth of 489 m. It tested the A2 shear 28 m up-dip of AR-15-54c3 (4.25m of off-scale radioactivity in the A2 shear; assays pending), and the A3 shear 53 m up-dip of AR-15-56c1 (8.35m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 508 m. The A2 and A3 shears were intersected at inclinations of -62° and -61°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2, A3 and A4 shears that was associated with semi-massive veins worm-rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 169.0 m including 8.25 m of off-scale radioactivity (>10,000 - >61,000 cps) was intersected within a 370.0 m section (601.5 to 971.5 m). In the A2 shear, 72.5 m of composite mineralization including 5.9 m of off-scale radioactivity was intersected. In the A3 shear, 27.5 m of composite mineralization was intersected. In the A4 shear, 67.5m of composite mineralization including 2.35m off-scale radioactivity was intersected. The hole was terminated at 992.3 m and represents significant growth to the high-grade portion of the A2 shear.

AR-15-56c3

Hole AR-15-56c3 was a directional hole that departed from pilot hole AR-15-56c2 at a depth of 334 m. It tested the A2 shear 55 m southwest of AR-15-53c3 (5.3 m of off-scale radioactivity in the A2 shear; assays pending). Directional drilling was initiated at 355 m and the A2 shear was intersected at an inclination of -79°.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 shear). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 shear that was associated with worm-rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 15.5 m including 2.75 m of off-scale radioactivity (>10,000 - 32,000 cps) was intersected within a 77.5 m section (631.0 to 708.5 m), all within the A2 shear. The hole terminated immediately after the A2 shear at 762.0 m to avoid twinning holes already planned for the A3 shear.

AR-15-57c3

Hole AR-15-57c3 was a directional hole that departed from pilot hole AR-15-57c1 at a depth of 261 m. It was designed to test the A3 shear 53 m down-plunge to the southwest of AR-15-57c2 (9.9 m of off-scale radioactivity in the A3 shear; assays pending). The hole also tested the A2 shear 37 m up-plunge to the northeast of AR-15-49c2 (12.01% U3O8 over 50.0m in the A2 shear). Directional drilling was initiated at 280 m. The A2 and A3 shears were intersected at inclinations of -67° and -61°, respectively

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2, A3 and A4 shears that was associated with massive vein style, worm-rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 135.35 m including 20.2 m of off-scale radioactivity (>10,000 – >61,000 cps) was intersected within a 490.0 m section (294.5 to 784.5 m). In the A2 shear, 62.5 m of composite mineralization including 8.7m of off-scale radioactivity was intersected. In the A3 shear, 64.5 m of composite mineralization including 9.75 m of off-scale radioactivity was intersected. In the A4 shear, 6.85 m of composite mineralization including 1.75 m of off-scale radioactivity was intersected. The hole was terminated at 831.0 m. It represents extensive growth to the high-grade portions of the A2 and A3 shears.

AR-15-57c4

Hole AR-15-57c4 was a directional hole that departed from pilot hole AR-15-57c3 at a depth of 279 m. It was designed to test the thickness of the A2 shear in the vicinity of AR-14-30 (10.17% U3O8 over 20.0m in the A2 shear). However due to unfavourable ground conditions, optimal controlled drill hole deviation could not be achieved during multiple attempts at directional core drilling beginning at 291 m. As a result, the hole intersected the A2 shear 60 m shallower than planned and at an inclination of -71°.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 shear). The hole successfully intersected widespread anomalous radioactivity within the A2 shears that was associated with blebs and flecks of pitchblende. A total composite mineralization of 49.0 m was intersected within a 121.5 m section (304.5 to 426.0 m). In the A2 shear, 44.5m of total composite mineralization was intersected. The hole was terminated immediately after the A2 shear at 543.0 m.

AR-15-57c5

Hole AR-15-57c5 was a directional hole that departed from pilot hole AR-15-57c4 at a depth of 297.0 m. It was designed to test the A3 shear 53 m southwest of AR-15-57c2 (9.9 m of off-scale radioactivity in the A3 shear; assays pending). The hole also tested the A2 shear 27 m up-dip of AR-15-57c3 (8.7 m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 313 m. The A2 and A3 shears were intersected at inclinations of -64° and -57°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2, A3 and A4 shears that was associated with semi-massive vein style, worm-rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 106.0 m including 6.75 m of off-scale radioactivity (>10,000 – 55,000 cps) was intersected within a 526.0 m section (304.5 to 830.5 m). In the A2 shear, 49.0 m of composite mineralization including 3.4 m of off-scale radioactivity was intersected. In the A3 shear, 24.5 m of composite mineralization including 1.45 m of off-scale radioactivity was intersected. In the A4 shear, 28.5 m of composite mineralization including 1.9 m of off-scale radioactivity was intersected. The hole was terminated at 855.0 m.

AR-15-58c2

Hole AR-15-58c2 was a directional hole that departed pilot hole AR-15-58c1 at a depth of 267 m. It tested the A2 shear 55 m up-plunge to the southwest of AR-15-58c1 (20.15m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 67 m southwest of AR-15-48c1 (5.43% U3O8 over 24.0 m in the A3 shear). Directional drilling was initiated at 309 m. The A2 and A3 shears were both intersected at inclination of -62°.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2, A3 and A4 shears that was associated with chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 49.5 m including 0.8 m of off-scale radioactivity (>10,000 - 26,000 cps) was intersected within a 304.0 m section (391.0 to 695.5 m). In the A2 shear, 20.5m of composite mineralization was intersected. In the A3 shear, 16.0 m of composite mineralization including 0.3 m of off-scale radioactivity was intersected. In the A4 shear, 13.0 m of composite mineralization including 0.5 m off-scale radioactivity was intersected. The hole was terminated at 738.0 m.

AR-15-59c2

Hole AR-15-59c2 was a directional hole that departed pilot hole AR-15-59c1 at a depth of 156 m. It tested the A2 shear 49 m southwest of AR-15-54c1 (9.4 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 54 m up-dip of AR-15-54c2 (4.6m of off-scale radioactivity in the A3 shear; assays pending). Directional drilling was initiated at 256 m. The A2 and A3 shears were intersected at inclinations of -71° and -67°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 through A4 shears). The hole successfully intersected weakly to strongly anomalous radioactivity within the A2, A3 and A4 shears that was associated with semi-massive to massive veins, stringers, worm-rock style, chemical solution fronts, blebs and flecks of pitchblende. Mineralization present in the A2 shear was particularly intense and highlighted by the presence of dense accumulations of semi-massive to massive pitchblende over a near continuous core length of 7 m (524.3 – 531.3 m). A total composite mineralization of 173.0 m including 17.35 m of off-scale radioactivity (>10,000 - >61,000 cps) was intersected within a 518.0 m section (462.0 to 980.0 m). In the A2 shear, 70.0 m of composite mineralization including 16.9 m of off-scale radioactivity was intersected. In the A3 shear, 22.0 m of composite mineralization was intersected. In the A4 shear, 75.5 m of total composite mineralization including 0.45 m of off-scale radioactivity was intersected. The hole was terminated at 1,005 m. It represents a 50 southwest step-out to the high-grade subzone on the A2 shear which now has a strike length of at least 162 m.

AR-15-60c1

Hole AR-15-60c1 was a directional hole collared at an angled orientation (-75°) to the southeast (140° azimuth). It tested the A2 shear 59 m down-dip of AR-14-15 (3.42% U3O8 over 22.35 m and 1.52% U3O8 over 32.0 m in the A2 shear). Directional drilling was initiated at 208 m the A2 shear was intersected at an inclination of -66°.

The hole intersected desilicified and bleached Athabasca Group sandstones between 95.5 m and the unconformity at 106.6 m. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 shear). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 shears that was associated with chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 54.0 m including 1.95 m of off-scale radioactivity (>10,000 – 41,000 cps) was intersected within a 315.0 m section (400.0 to 715.0 m). In the A2 shear, 29.5 m of composite mineralization including 0.6 m of off-scale radioactivity was intersected. The hole was terminated before the A3 shear at 735.0 m to avoid twinning a previously drilled hole.

AR-15-60c2

Hole AR-15-60c2 was a directional hole that departed pilot hole AR-15-60c1 at a depth of 393 m. It tested the A2 shear 52 m northeast of AR-15-53c3 (5.3 m of off-scale radioactivity in the A2 shear; assays pending) and the A3 shear 39 m down-plunge to the northeast of AR-15-39 (2.27% U3O8 over 29.5 m in the A3 shear). Directional drilling was initiated at 526 m. The A2 and A3 shears were intersected at inclinations of -72° and -71°, respectively.

Since the hole departed the pilot hole below the unconformity, no Athabasca Group sandstones were intersected. Basement lithologies consisted largely of semipelitic gneiss to granofel, and relatively narrow intervals of pelitic gneiss and mylonite (the A2 and A3 shears). The hole successfully intersected widespread weakly to strongly anomalous radioactivity within the A2 and A3 shears that was associated with semi-massive veins, worm-rock style, chemical solution fronts, stringers, blebs and flecks of pitchblende. A total composite mineralization of 88.0 m including 3.75 m of off-scale radioactivity (>10,000 – 51,000 cps) was intersected within a 453.0 m section (400.0 – 853.0 m). In the A2 shear, 36 m of composite mineralization including 2.1 m of off-scale radioactivity was intersected. In the A2 shear, 22 m of composite mineralization including 1.65 m of off-scale radioactivity was intersected. The hole was terminated immediately after the A3 shear at 951.0 m. This hole represents significant step-outs on both the A2 and A3 shears.

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 world class uranium deposits and in developing projects from discovery through to production.

NexGen is well funded and 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.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of NexGen Energy Ltd., by Garrett Ainsworth, P.Geo., Vice President – Exploration & Development, a qualified person.

Leigh Curyer,
Chief Executive Officer
NexGen Energy Ltd.
+1 604 428 4112
lcuryer@nexgenenergy.ca
www.nexgenenergy.ca

The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, but not always, forward looking information is identifiable by the use of words such as "will" and planned" and similar expressions. Forward-looking information is based on the then current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Such information is not a guarantee of future performance and undue reliance should not be placed on forward-looking information. Assumptions and factors underlying the Company's expectations regarding forward-looking information contained herein include, among others: that general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed on reasonable terms; that the Company's current exploration activities can be achieved and that its other corporate activities will proceed as expected; 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 are considered reasonable by management at the time the forward-looking information is given, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information also involves 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, including, among others: risks related to the availability of financing on commercially reasonable terms and the expected use of the proceeds; changes in the market; potential downturns in economic conditions; industry conditions; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results of exploration; future prices of metal; 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 or financing. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. NexGen 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. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE NexGen Energy Ltd.

Image with caption: "Figure 1: Arrow Zone Drill Hole Locations (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20151013_C8666_PHOTO_EN_519325.jpg

Image with caption: "Figure 2: A2 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20151013_C8666_PHOTO_EN_519327.jpg

Image with caption: "Figure 3: A2 Mineralized Shear Long Section (Close Up) (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20151013_C8666_PHOTO_EN_519329.jpg

Image with caption: "Figure 4: A3 Mineralized Shear Long Section (CNW Group/NexGen Energy Ltd.)". Image available at: http://photos.newswire.ca/images/download/20151013_C8666_PHOTO_EN_519331.jpg