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Rook I Project

Small Footprint, Big Impact

The world’s leading uranium development project located in Canada's southwestern Athabasca Basin, Saskatchewan.
Shafts

Smart, Safe, Innovative

State of the art facilities and infrastructure are being developed with automation and safety at the forefront. The underground mine is serviced by two vertical shafts.  The shafts will transport personnel, materials, and rock while providing fresh air to the underground workings.
Shaft Access

Accessing the Underground

The headframe and production shaft are used to safely bring equipment, material, and people in and out of the mine at a depth of 630 metres. Over 1,300 tonnes per day of rock will be hoisted to the surface.
Arrow Deposit

Flexible, Reliable, & 
Environmentally Elite

With a measured, indicated and inferred resource of 337.4 million lbs, (3.10% grade for M&I) and open in all directions while being hosted completely in basement rock, avoiding the need for freezing.
Mining Method

Proven Techniques, Innovative Tailings Approach

The Mining method utilises conventional long hole stoping to extract the ore. Active reclamation during production through utilising paste tailings and the innovate Underground Tailings Management Facility (UGTMF) will eliminate surface tailings and mitigate end of life liabilities.
Underground

Utilizing Technology

Using a fleet of automated and tele-remote equipment, uranium ore will be extracted from stopes and transported through a material handling system where ore will be hoisted to surface.
Ore will stockpiled and blended to provide consistent feed to the Mill and maximize uranium recoveries. The project production flexibility will ensure sustainable uranium markets going forward.
Rook I Project

Summary

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Up to 30M lbs U3O8 production
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Active Reclamation
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Up to 46 M homes powered annually through Rook I’s clean fuel

Rook I Project

Meeting the Growing Demand for Clean Energy Solutions

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 environmental and social commitments focused on unparalleled performance and optimizing community benefit through a partnership approach.

23%

Of current global uranium fuel supply

>50%

Of current western uranium fuel supply sourced from a sovereign jurisdiction

30M lbs

Up to 30M lbs of high-grade uranium annually

100%

Support from local Indigenous communities with four signed Benefit Agreements

24 year

Mill permit and 11.7 years initial mine life

12-month payback

On a C$2.2B Capex using a long term uranium spot price US$95/lb

*All stats are approximate
ROOK I Highlights

The Largest Source of Low-Cost Uranium Globally

Current Development Stage
The company is now progressing through advanced stages of engineering, having started on critical path activities, which include procurement of long lead equipment and critical path contracts. Shaft Sinking of the Production and Exhaust Shafts are the first major activities that will begin on site.
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Project Infrastructure
The Rook I Project will consist of an underground mine and mill utilizing conventional methods. Innovative infrastructure such as the Underground Tailings Management Facility (UGTMF) will deploy proven technology to eliminate surface tailings and mitigate end of life liabilities.
Detailed Design and Engineering
Front-End Engineering Design (FEED) was completed in Q2 2024, and the company is progressing through detailed engineering, focusing on critical path activities, which include procurement of long lead equipment and critical path contracts. Enhanced site infrastructure on and around the site has been completed, positioning the project for full construction to commence upon final Federal approval.
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Economic Benefits

Estimated pre-production capital costs of C$2.2B , with an industry-leading average OpEx of C$13.86/lb U₃O₈ over the life of mine. With high returns and a 12-month payback period, the flexible mine design adapts production to market conditions. At USD$95.00/lb U₃O₈, the project delivers a high NPV of C$6.32B and 45.2% IRR, ensuring rapid payback.

Rook I Project - Outstanding Economics
FCF & IRR Sensitivity to Uranium Price
Arrow Mineral Resource Estimate
Arrow Deposit, Probable Mineral Reserves
Arrow Deposit Production Profile
After-Tax NPV @ 8%
C$6.32 Billion
After-Tax Internal Rate of Return (IRR)
45.20%
After-Tax Payback
12 months
Project Execution Capital
C$2,209 Million
Total Initial Capital Costs (“CAPEX”)
C$2.2 Billion
Average Annual Production (Years 1-5)
29.2 M lbs U3O8
Average Annual After-Tax Net Cash Flow (Years 1-5)
C$1,932 Million
Average Annual Production (Life of Mine)
19.8 M lbs U3O8
Nominal Mill Capacity
1,300 tonnes per day
Average Annual Mill Feed Grade
2.24% U3O8
Mine Life
11.7 Years
Average Annual Operating Cost (“OPEX”, Life of Mine)
C$13.86 (US $10.40)/lb U3O8
Uranium  Price ($ USD/lb U3O8)
Average Annual Free Cash Flow
Y1–5 (C$ billion)
After-Tax  IRR
$150/lb U₃O₈
3.13
60.9%
$100/lb U₃O₈
2.04
46.9%
$95/lb U₃O₈
1.93
45.2%
$80/lb U₃O₈
1.61
39.6%
$50/lb U₃O₈
0.97
25.2%
FS Mineral Resource
Structure
Tonnage
(k tonnes)
Grade‍(U3O8%)
Contained Metal‍(U3O8 M lb)
Measured
A2 LG
920
0.79
16.0
A2 HG
441
16.65
161.9
A3 LG
821
821
31.7
Total:
2,183
4.35
209.6
Indicated
A2 LG
700
0.79
12.2
A2 HG
56
9.92
12.3
A3 LG
815
1.26
22.7
Total:
1,572
1.36
47.1
Measured and Indicated
A2 LG
1,620
0.79
28.1
A2 HG
497
15.9
174.2
A3 LG
1,637
1.51
54.4
Total:
3,754
3.1
256.7
Inferred
A1 LG
1,557
0.69
23.7
A2 LG
863
0.61
11.5
A2 HG
3
10.95
0.6
A3 LG
1,207
1.12
29.8
A4 LG
769
0.89
15.0
Total:
4,399
0.83
80.7
Probable Mineral Reserves
Structure
Tonnage
(k tonnes)
Grade‍(U3O8%)
Contained Metal‍(U3O8 M lb)
A2
2,594
3.32%
190.0
A3
1,982
1.13%
49.5
Total
4,575
2.37%
239.6
A green industrial plant

Portfolio Assets

Discover NexGen's unmatched potential in Saskatchewan’s southwest Athabasca Basin, boasting over 190,000 hectares of prime uranium properties.

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