DRAG

Asset Portfolio

Projects

Positioned to emerge as a top 10 global mining company, our dominant land position in this highly prospective and sovereign uranium district underlies our strategic advantage in the global uranium sector.

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Size

Commanding an expansive >190,000 hectare portfolio in Saskatchewan's southwest Athabasca Basin, Canada.

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Discoveries

Multiple discoveries made close to existing infrastructure, including "Arrow" (February 2014) and, most recently, the Patterson Corridor East "PCE" discovery (February 2024).

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Location

Strategically located to target additional world-class, high-grade, and high tonnage uranium mineralization on the SW1, SW2, and SW3 properties.

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Mineralization

Under explored land packages – numerous untested geophysical anomalies consistent with known mineralization. 337.4 M lb U3O8 – Measured, Indicated, and Inferred at the Arrow Deposit

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Exploration Program

NexGen’s 2024 exploration drill program has discovered an expansive mineralized footprint at PCE with remarkable continuity and geological characteristics analogous to Arrow.

Portfolio

Our Land Package

The southwestern Athabasca Basin is regarded as a premier uranium exploration area due to its high-grade, high-tonnage mineralization. Over the past decade, numerous untested targets have been identified through extensive geophysical surveys, showcasing potential for further world-class discoveries.

SW1

Underexplored land package with strong similarities to the Patterson Corridor - proximal to high-grade uranium mineralization.

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SW2

Hosts the Arrow Deposit and the exciting new PCE discovery, with an expansive high-grade uranium mineralization footprint.

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SW3

Prospective land package strategically located along the Athabasca Basin margin and proximal to the Centennial Deposit.

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PCE

Property Description

The Patterson Corridor East (PCE) discovery is situated only 3.5 km east of the Arrow Deposit with potential for future mine incorporation. The system is open in all directions, with mineralization spanning over 600 m in strike length and 600 m vertical depth-, extent with 19 of 30 holes intersecting mineralization including 10 holes with multiple intervals >10,000 cps.

The best hole to date at PCE (RK-24-222) returns 17.0 m wide vein with multiple high intensity (>61,000 cps) occurrences. (learn more)

Ongoing efforts at PCE focus on testing the extents of mineralization through bold step outs, and vectoring in on high-grade zones within the broader mineralized system.

Geological Characteristics

Mineralized signature analogous to Arrow
Semi-massive to massive pitchblende veins, fracture coatings, and disseminations (up to off-scale >61,000 cps) 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

Feasibility Study (FS)

Summary of Completed Geophysical Surveys

Current Exploration

Disclaimer

Other

Figure 1: Schematic long section comparison from mid-summer 2024 to November 2024 of mineralized footprint at PCE; additional drilling has maintained internal continuity with modest expansion in most directions

Figure 2: Core photo from RK-24-222; high-grade mineralization is hosted near continuously within an overall vein width of 17.0 m from 604.5 to 621.5 m with a secondary vein below from 623.0 to 626.0 m; yellow outlines >1,000 cps while red outlines >10,000 cps

Figure 3: High grade mineralization hosted within RK-24-207

Discovery Date

February 2024

Stage

Greenfield

Project Description

High-grade, basement-hosted discovery

In 2024, PCE is the largest drill program in the Athabasca Basin by any Company at 34,000 meters (m)

Location

Southwest Athabasca Basin, Saskatchewan. Canada

Commodity

Acquired

Prospective Corridors

Total Metres Drilled

Rook I Patch Elevator

Rook I Project

Sw2

Arrow

The largest single source development-stage uranium project in the world.