arrow: canada’s largest undeveloped uranium project · statements with respect to, planned...

ARROW:Canada’sLargestUndevelopedUraniumProject

January2017

InformationContainedInThisPresentation

ThispresentationisasummarydescriptionofNexGen EnergyLtd.(“NexGen”orthe“Company”)anditsbusinessanddoesnotpurporttobecomplete.Thispresentationisnot,andinnocircumstancesisittobeconstruedas,aprospectus,anadvertisement,orapublicofferingofsecurities.Nosecuritiesregulatoryauthorityorsimilarauthorityhas reviewedorinanywaypasseduponthedocumentorthemeritsoftheCompany’ssecuritiesandanyrepresentationtothecontraryisanoffence.

Exceptwhereotherwiseindicated,theinformationcontainedinthispresentationhasbeenpreparedbyNexGen andthereisnorepresentationorwarrantybyNexGen oranyotherpersonastotheaccuracyorcompletenessoftheinformationsetforthherein.ThispresentationincludesinformationonadjacentpropertiesthatwasobtainedfromvariouspubliclyavailablesourcesreferredtohereinandtheaccuracyandcompletenessofsuchinformationhasnotbeenverifiedbyNexGen.Exceptasotherwisestated,informationincludedinthispresentationisgivenasofthedatehereof.Thedeliveryofthispresentationshallnotimplythattheinformationhereiniscorrectasofanydateafterthedatehereof.

Alldollaramountsreferencedherein,unlessotherwiseindicated,areexpressedinCanadiandollars.

CautionaryNoteRegardingForward-lookingInformation

Thispresentationcontains"forward-lookinginformation"and“forwardlookingstatements”withinthemeaningofapplicableCanadiansecuritieslaws.Forward-lookinginformationandstatementsinclude,butarenotlimitedto,statementswithrespectto,plannedexplorationactivities,thefutureinterpretationofgeologicalinformation;theanticipated timingforanupdatedmineralresourceestimatebasedon2016drilling,growthpotentialandcostofsuchexplorationactivities,futurefinancings,thefuturepriceofuraniumandrequirementsforadditionalcapital.Generally,butnotalways,forwardlookinginformationandstatementscanbeidentifiedbytheuseofwordssuchas“plans”,“expects”,“isexpected”,“budget”,“scheduled”,“estimates”,“forecasts”,“intends”,“anticipates”,or“believes”orthenegativeconnotationthereoforvariationsofsuchwordsandphrasesorstatethatcertainactions,eventsorresults“may”,“could”,“would”,“might”or“willbetaken”,“occur”or“beachieved”orthenegativeconnationthereof.

Forward-lookinginformationandstatementsarebasedonthethencurrentexpectations,beliefs,assumptions,estimatesandforecastsabouttheCompany’sbusinessandtheindustryandmarketsinwhichitoperates.Suchforwardinformationandstatementsarebasedonnumerousassumptions,includingamongothers,thattheresultsofplannedexploration activitiesareasanticipated,thepriceofuranium,thecostofplannedexplorationactivities,thatfinancingwillbeavailableifandwhenneededandonreasonableterms,thatthirdpartycontractors,equipmentandsuppliesandgovernmentalandotherapprovalsrequiredtoconducttheCompany’splannedexplorationactivitieswillbeavailableonreasonabletermsandinatimelymannerandthatgeneralbusinessandeconomicconditionswillnotchangeinamaterialadversemanner.AlthoughtheassumptionsmadebytheCompanyinprovidingforwardlookinginformationormakingforward-lookingstatementsareconsideredreasonablebymanagementatthetime,therecanbenoassurancethatsuchassumptionswillprovetobeaccurate.

Forward-lookinginformationandstatementsalsoinvolveknownandunknownrisksanduncertaintiesandotherfactors,whichmaycauseactualresults,performancesandachievementsofNexGen todiffermateriallyfromanyprojectionsofresults,performancesandachievementsofNexGen expressedorimpliedbysuchforward-lookinginformationorstatements,including,amongothers:negativeoperatingcashflowanddependenceonthirdpartyfinancing,uncertaintyofadditionalfinancing,assayresultsmaynotbeconsistentwithpreliminaryresults,uncertaintyofmineralestimation,alternativesourcesofenergy,aboriginaltitleandconsultationissues,potentialforfeitureofRadioOptionAgreement,relianceonkeymanagementandotherpersonnel;potentialdownturnsineconomicconditions;actualresultsofexplorationactivitiesbeingdifferentthananticipated;changesinexplorationprogramsbaseduponresults;availabilityofthirdpartycontractors;availabilityofequipmentandsupplies;failureofequipmenttooperateasanticipated;accidents,effectsofweatherandothernaturalphenomenaandotherrisksassociatedwiththemineralexplorationindustry;changesinlawsandregulations;communityrelations;anddelaysinobtaininggovernmentalorotherapprovals,competition,uninsurablerisksandotherfactorsdiscussedorreferredtointheCompany’sMD&Aandotherdisclosuredocumentsfiledonandavailableatwww.sedar.com.

AlthoughtheCompanyhasattemptedtoidentifyimportantfactorsthatcouldcauseactualactions,eventsorresultstodiffermateriallyfromthosecontainedintheforward-lookinginformationorimpliedbyforward-lookinginformation,theremaybeotherfactorsthatcauseresultsnottobeasanticipated,estimatedorintended.Therecanbenoassurancethatforward-lookinginformationandstatementswillprovetobeaccurate,asactualresultsandfutureeventscoulddiffermateriallyfromthoseanticipated,estimatedorintended.Accordingly,readersshouldnotplaceundue relianceonforward-lookingstatementsorinformation.NexGen undertakesnoobligationtoupdateorreissueforward-lookinginformationasaresultofnewinformationoreventsexceptasrequiredbyapplicablesecuritieslaws.

Thefootnotes,endnotesandappendicestothispresentationcontainimportantinformation.Theendnotesandappendicesarefound at theendofthepresentation.

TechnicalInformation

ThescientificandtechnicalinformationinthispresentationhasbeenpreparedorapprovedbyGarrettAinsworth,P.Geo.,VicePresident– Exploration&Development,a“qualifiedperson”withinthemeaningofNationalInstrument43-101– StandardsofDisclosureforMineralProjects.Mr.Ainsworthreviewedthedatadisclosedinthispresentation,includingthesampling,analyticalandtestdataunderlyingtheinformationcontainedinthispresentation.Mr.AinsworthverifiedthattheresultsareaccuratebyreviewingtheofficialassaycertificatesprovidedtotheCompany.ForadescriptionoftheCompany’squalityassuranceprogramandqualitycontrolmeasures,typeofsamples,sampleintervals,relevantanalyticalvaluesandtestingprocedurespleaserefertothe“TechnicalReportontheRookIProperty,SaskatchewanCanada”havinganeffectivedateofNovember30,2015,filedundertheCompany’sprofileatwww.sedar.com.

Disclaimer

Summary

People

NexGen isledbyateamofhighlyexperienceduraniumprofessionalswithexperiencespanningexplorationthroughtoproduction.

Project

Arrowisthelargesturaniumexploration&developmentinCanada.

Arrowexhibitsunique technicalcharacteristics.

Jurisdiction

SaskatchewanCanadarated2nd bestminingjurisdictioninWorldbyFraserInstitutefor2015andisthesecondlargesturaniumproducingregionin

theWorldrepresenting16%ofglobalproduction.

Overview: NexGen Projects

Cluff LakeMine70kmtonorthwestofArrowoperatedduringthe90’sbyAREVA

ArrowisthelargestundevelopeduraniumdepositintheBasin.

Opportunityformorezonesofmineralizationacrossthepropertyandiscurrentlybeingtested.

Dominance in Southwest

201.9Mlbscontainedin3.48Mt grading2.63%U3O8intheInferredMineralResource

Categorymakingit3rdlargestdepositinBasin

Uniquely100%landbasedandentirelybasementhostedcommencing100m

belowsurface

Onlyincludesthe82holesdrilled uptothe

endofOctober2015(AR-14-01toAR-15-62)

Canada’s Largest Exploration/Development Project

MaidenInferredMineralResourceEstimate

Cut-Off% U3O8 Tonnes Grade(capped)%U3O8 ContainedU3O8

0.25 3,480,000 2.63 201,900,000

0.50 2,510,000 3.51 194,300,000

1.00 1,490,000 5.43 178,300,000

2.50 677,800 10.04 150,100,000

5.00 396,500 14.70 128,500,000

10.00 221,200 20.78 101,300,000

Resilient Resource Estimate

Notes:1.CIMDefinitionStandardswerefollowedforMineralResources.2.MineralResourcesarereportedatacut-offgradeof0.25%U3O8basedonalong-termpriceofUS$65perlbU3O8andestimatedcosts.3.Aminimumminingwidthof2.0mwasused.4. Numbersmaynotaddduetorounding.5. Effectivedate:January14,2016

Sandstone-hosteddeposits(egresstype)tendtohaveminingchallengesduetothemineralization is‘perched’withintheunconsolidatedandwetAthabascaSandstoneunitrequiringfreezing.

AthabascaBasinSetting– WhatmakesArrowUnique!

450munconsolidated

competent

Arrow isabasement-hostedzone(ingresstype)whichNexGenanticipateswillnot requirefreezingtoextractduetocompetentgroundsetting.

100m

10m

Current plan view of Arrow deposit.

Currentlyconsistsof5verticalparallelshears;A1,A2,A3,A4andA5thattrendalongstrikenortheast-to-southwest.

Currentlydrill testingtodefineboundariesatArrowbyaggressivelysteppingoutalongstrikeaswellasinfillingknownareaofmineralization.

Arrowisopeninalldirectionsandatdepth.

Arrow Open in All Directions

ArrowPlanView– ModelProgression

Arrow – Drilling to End of 2015 Arrow – Drilling to End of 2016

ArrowCrossSection– ModelProgression

Arrow – Drilling to End of 2015 Arrow – Drilling to End of 2016

A2 High Grade Domain ExpandingArrow’smaidenresourcedoesnotincludethe73,091mofdrillingatArrowduring2016.

Muchof2016drillingfocusedoninfillingA2HighGradeDomain

MoststronglymineralizedholesdrilledatArrowtodateinAR-16-64c2,-63c2andmanyothersnotincludedinresource.

ScissordrillinginHighGradeDomainhasresultedintop10rankedholesatproject.

ScissorholeAR-16-98c2returned10.0mat51.40%U3O8inA2HighGradeDomainandconfirmedcontinuity.

ContinuetoexpandA2HighGradeDomaingradeshell–nowtonortheast

HoleAR-16-98c1returned21.0mat4.17%U3O8including5.0mat10.97%U3O8innewhighgradeareaofA1shear.

Sincethen,follow-upholeshaveconfirmedhighpotentialfromthisnewhighgradearea.

MostrecentdrillingconfirmshighgradenatureoflargelyuntestedareaofA1shearwhichnowcoversastrikelengthof360m.

Theseholeallintersectedoff-scalemineralizationwelloutsideofthemaidenresourceestimate’sgradeshell.

Growth in the A1 Shear

Hole AR-16-90c3 hit 8.05m of off-scale mineralization including 1.5m of minimum-greater-than-61,000 cps with 1.0m of continuous.

Dense accumulations of semi-massive to massive pitchblende mineralization encountered here.

Three holes recently drilled into previously untested ’gap’ confirms continuity of mineralization between Arrow and 180 m southwest area.

Also an intense alteration zone located 230m below the surface was encountered.

Arrow and 180 m Southwest Area Connected

OnAugust11,2016NexGenannouncedHarpoonDiscovery4.7kmNEofArrowand1kmNEofBow.

MostsignificantnewdiscoverymadeinSWAthabascaBasinsinceArrowinFebruary2014.

HP-16-08intersected17mcontinuousmineralizationincluding4.5mofoff-scalewithmassivetosemi-massivepitchblendemineralizationpresent.

WillreturntofurtherexpandandtestHarpooninwinter2017andbeyond.

New Discovery: Harpoon

Already3 newdiscoveriesoutsideofArrowinHarpoon,BowandCannon.

Wideopenfertileuraniumcorridorwith14kmofknownstrikeofwhichNexGen holds9km.

ContinuetobalanceexpansionandinfilldrillingatArrowwithregionalexplorationeffortswith75%ofmetresdrilledtargetingArrowand25%onregionaltargetsalongPattersonCorridor.

Fertile Uranium Trend

Wellfunded:C$74Mintreasurytofinanceprogramsintothefuture.

Timeline

2016

Drilled96,996matRookIin2016

---Metallurgical,geotechnical,

hydrogeologicaltestingundertaken

---ReleasedMaidenResourceEstimate

H1/2017

Complete35,000mwinterdrillprogram

---ReleaseUpdatedResourceEstimate

---Advancedsite

characterizationandgeotechnicaldrilling

H2/2017

Summer2016drillprogram

---Continuedadvancedenvironmentaland

engineeringtestwork---

UpdatedResourceEstimateandPre-

feasibilitystudybyend2017 touseasbasisforpermitapplication

Local Prosperity Programs

Someofourprogramsinclude:

• CampQuest:MiningRocksEarthScienceProgram

• LaLoche grade4fieldtrips

• Campdogfosteringprogram

• Studentapprenticeshipprograms.

• Strictfocusontheenvironment,communityandsafety.

NexGen is committed to local residentsand to Saskatchewan

Site Infrastructure

AccessRoadandBridge

Kitchen,Office,Safety

Formoreinformationpleasevisit:www.nexgenenergy.ca orcontact:

TravisMcPherson – CorporateDevelopmentManagerPhone:+1.604.428.4112

Email:tmcpherson@nexgenenergy.ca

Contact Information

Appendices

SharesIssued 303,902,506

FullyDiluted 340,882,904

Cash ~C$74million

InsiderOwnership 5%

Shareholders •CEFHoldings(Li Ka-shing)•1832AssetManagement•Blackrock(UK)•RosseauAssetManagement•Segra CapitalManagementLLC•CQSManagementLtd.• HaywoodSecurities

WarrantsOptionsCEFConversion

5,714,28631,266,11225,794,248(conversionpriceofUS$2.35)

1.) Sharestructure and Cash as atJan.1,2017.

Capital Structure

Name Experience

LeighCuryerCEO

•CharteredAccountantwith+20yearsexperience andex-CFOofSouthernCrossResources(nowUraniumOne)•Managed exploration,feasibilityandpermittingofHoneymoonUraniumProjectinSouthAustralia•Ex-HeadCorporateDevelopmentatAccordNuclearResourcesManagementassessingglobaluraniumassetsforFirstReserveInternational

GarrettAinsworthBSc,PGeo – VPExploration

•ProfessionalgeologistandformerProjectManagerforAlphaMinerals-Fission50/50JVonPattersonLakeSouthprojectfrom2007to2013•Stakedclaims,boulderprospecting andleddrillprogramsthatledtodiscoveryofR00E,R390EandR780Ezones•WonAMEBC2014ColinSpenceAwardfordiscoveryofPattersonLakeSouth

TravisMcPhersonCorporateDevelopmentManager

•Ex-Head CorporateDevelopmentforTSX-listedgoldproducer•M&A,debtandequity, permitting,budgetingandcorporatestrategyexperience

Management

GraceMarositsCFO

•CharteredAccountantwithpublicpracticeandcorporateexperienceincludingDeloitte,WestcoastEnergyandBallardPower

JoannaCameronVPLegal

•Lawyerwith+20yearsexperience inexploration andmining•Ex-partnerCassels Brock&Blackwell LLP

Management (Continued)

Name Experience

ChristopherMcFadden(Chairman)

Lawyerwith+20yearsexperienceinexploration andminingCommercialGeneralMangerforRio Tinto

RichardPatricio Lawyer with+15yearscapitalmarketsexperienceCEOandPresidentofMegaUranium

TrevorJ.Thiele CharteredAccountantwith+30yearsexperienceincapitalmarketsincludingCFOofmajorAustralianAgribusinesses(EldersandViterra)

CraigParry Geologistex-Rio Tinto,Oxiana LimitedandG-ResourcesFoundingmemberofTigers RealmGroup

Dr.MarkO’Dea Geologist with+20yearsexperienceindiscoveries,development,miningandM&ACo-founderofFronteer,Aurora,TrueGoldMiningsoldfor$2.3Bn,$260Mand$240M,respectively

Board of Directors

Advisory Board

CharlesScorer(UraniumMarketing)

+25 yearscommercialandoperationalexperienceinnuclearfuelmarketFounderandex-CEOofNufcor International

AndrewBrowne(TechnicalAdvisoryHead)

Uraniumgeologistwith+43yearsexperienceKeymember ofexplorationteamsatJabilukaandRanger1No.3Deeps

Why Uranium?

0Greenhouse Emissions

Demand is expected to outpace total uranium supply by 2018/2019 when nuclear utilities will have to either turn off reactors (challenging and expensive) or pay higher prices for nuclear feed.

Theinevitablesupplycrunchiscoming.

The Inevitable Supply Crunch

World Nuclear Association, Raymond James Ltd.

TechnicalDisclosure

General

The mineral resource estimate referred to/summarized herein wasprepared byRPAInc.(“RPA”),anindependent consultingcompany.

Drilling,SamplingandAnalytical

The mineral resource estimate isdefinedbyatotal of82diamondcoredrillholes.Thedrillholespacingisapproximately 50metre x50metre through mostofthedeposit,andistighter(approximately 50metre x25metre) inthehigher grade A2sub-zone.Allofthecorecollected isNQsized(47.6mmdiameter). Radioactive intervals were spliton-sitein0.5metre intervals andtransported byCompanypersonnelto SRCGeoanalytical Laboratories (anSCCISO/IEC 17025:2005accredited facility)ofSaskatoon for geochemical analysisandU3O8 assay.Allsampleswere analyzedusingICP-MS(InductivelyCoupledPlasma– MassSpectrometry) for trace elements after partial andtotal digestions,plusICP-OES(InductivelyCoupledPlasma– OpticalEmissionSpectrometry) formajorandminorelements after atotal digestion,andfusionsolutionofboronbyICP-OES.Mineralizedsamplesfor assay were analyzed forU3O8byICP-OES.Select sampleswere alsoanalyzed for goldbyfire assay. Analytical results were onlyaccepted after stringent internal QA/QCcriteria hadbeenpassed.Allgrade data usedinthemineral resource estimate wasobtained fromchemical assays; noradiometric probe data were used.

Estimation Methodology

The interpretation for mostofthemineralized lenses (domains)wasguidedbypreliminary grade-shellwireframes created inLeapfrog software andthenrefined inVulcansoftware with conventionalthree-dimensionalwireframe grade shellswithathreshold of0.05%U3O8.Wireframes were assembled bytyingtwo-dimensional cross-section andplanviewpolygonstogether usingthedrillholedata forareference. Thepolygonswere “snapped”tothe drillholestoensure that the boundariesaccuratelycorrespond toselected drillholeintervals. Onehighgrade portionofthe deposit(A2HighGrade) wasmodelledwithanadditionalhigher grade wireframe based onathresholdof5.0%U3O8.Thehighergrade wireframe islocatedwithinandcompletely encompassed bya0.05%grade shellwithintheA2structure. Drillholeassay data was compositedto2metre (metre) lengths withinthewireframes andtagged withthe corresponding domaincode.

Uranium (asU3O8)grades were interpolated withanID3 (inverse distance cubed) functionintoablockmodelwithblocksmeasuring 5metre (along strike) x5metre (downdip)x2metre (across strike). Thegrade shellswere usedas hardboundaries,suchthat onlydrillholedatainsideofanygivendomaincouldinformtheblockswithinthatdomain.Very highgrade outliers were capped at55%U3O8 withinthe A2highgrade domainand6%,8%and15%U3O8 inthelowergrade domains.

Atotal of1,949bulkdensitymeasurements have been collected ondrillcoresamples.Themeasurements showastrong relationshipbetween uraniumgrade anddensityat theArrow deposit,

withhigher grade samplesbeingmore dense thanlower grade samples.Therefore, the uraniumgradewasusedto estimate the densityofeach samplewitha polynomialformulawhichisbasedonaregression fit.Densities were then interpolated intotheblockmodeltoconvert mineralized volumestotonnage, andwere alsousedtoweight theuraniumgrades interpolated intoeach block.

The resulting blockmodelwasvalidated byvisualinspection,volumetric comparison,swathplots,andblockgrade estimation usinganalternative method.Aswell,themean blockgrade at zero cutoff wascompared to themean ofthe compositedassay data toensure noglobalbias.

QPStatement

The mineral resource estimate was completed byMr.Mark Mathisen, C.P.G.,seniorgeologist at RPAandMr.David Ross,P.Geo.,director ofresource estimation andprincipalgeologistat RPA.Bothareindependent “qualifiedpersons”for the purposesofNationalInstrument 43-101StandardsofDisclosureforMineral Projects (“NI43-101”),andtheyhave approved the disclosureherein regardingthe mineral resource estimate.

Allother scientificandtechnical information inthispresentation hasbeen reviewed andapproved byMr. Garrett Ainsworth, P.Geo.,Vice President – Exploration &Development forNexGen. Mr.Ainsworth isaqualifiedpersonforthe purposesofNI43-101andhasverifiedthesampling,analytical,andtest data underlying the informationor opinionscontainedhereinbyreviewing originaldatacertificates andmonitoringallofthe data collectionprotocols.

AdditionalInformation

For additionaltechnical informationontheRook1Project, refer to thetechnical report titled“Technical Report onthe Rook1Property, Saskatchewan Canada” having aneffective date ofNovember 30,2015andnewsreleasesissuedsubsequentthereto.

End Notes