NexGen Announces Expansion of High-Grade Zone at Patterson Corridor East (PCE) and the Completion of 2026 Winter Drill Program

• Vertical extent of high-grade subdomain increased +33% to 550m with a strike length of 210m
• High-grade extension in RK-26-280c1 with cumulative 4.2m of >10,000 cps including 0.6m of >61,000 cps
• Continuity of intense mineralization in RK-26-271c1 with cumulative 12.6m of >10,000 cps including 2.3m of >61,000 cps 80m down plunge of RK-25-256 (5.5m at 21.4% U₃O₈)
• Progressive high-grade continuity at depth in RK-26-276 with cumulative 11.2m of >10,000 cps including 0.6m of >61,000 cps and RK-26-285 with cumulative 9.0m of >10,000 cps including 0.7m of >61,000 cps

Vancouver, BC, April 22, 2026 - NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG) ("NexGen" or the "Company") announces results from the 2026 winter drill program at Patterson Corridor East ("PCE") that recently concluded, highlighting significant vertical growth and strong internal continuity of high-grade mineralization.

Within the mineralized zone of PCE, the high-grade subdomain has now grown to 550 m in vertical extent, a 33% increase, with a strike length of 210 m. This expansion was primarily driven by hole RK-26-280c1 which returned cumulative 4.2m of >10,000 cps including 0.6m of >61,000 cps at 834m below surface (Figures 1-3). The hole successfully intersected mineralization 230m down plunge along a high-grade shoot interpreted to connect with RK-26-271c1 (Figure 4).

Holes RK-26-271c1, RK-26-276, and RK-26-285 returned strong mineralized intercepts between 600 to 700m below surface, where the system remains open for expansion (Figures 1 and 2, Table 1). Results from RK-26-271c1 include cumulative 12.6m of >10,000 cps including 2.3m of >61,000 cps 80m down plunge of RK-25-256 (5.5m at 21.4% U₃O₈) indicating continuity of intense high-grade mineralization (Figure 3). Further, the intersections from RK-26-276 (cumulative 11.2m of >10,000 cps including 0.6m of >61,000 cps) and RK-26-285 (cumulative 9.0m of >10,000 cps including 0.7m of >61,000 cps) add progressive high-grade continuity to the base of this growing subdomain.

Drilling 600m to the southeast of PCE along a separate parallel trend, prospective structure and alteration features are vectoring the Company toward potential repetition of mineralization within the overall PCE system (Figure 5).

Summer drilling of ~29,200m is schedule to commence the week of May 25, 2026. All samples from 2026 drilling are submitted to the independent Saskatchewan Research Council Geoanalytical Laboratory (SRC), with results to follow.

Leigh Curyer, Founder & Chief Executive Officer, commented: "Today's results from the 2026 winter program confirm both the scale and growth of PCE continues to advance at pace. Increasing the vertical extent of the high-grade subdomain by 33% during the winter program, suggests substantial drilling is required going forward to fully understand the extent of this mineralized zone. In parallel, drilling focused on vectoring into additional zones of mineralization will be incorporated into the summer program based on these winter results.

"With the Rook I Project commencing construction this summer and the significance of PCE materializing rapidly, we look forward to future drilling and evaluation of PCE and its potential position in the long-term profile of NexGen's uranium portfolio. NexGen is positioned to meet the strong demand for Canadian uranium for many decades into the future, whilst setting a new industry standard in the safe, efficient and reliable delivery of offtake to utility customers around the world."

A total of 12,758.2m of the planned 42,000m has been completed in 2026, focusing on high-grade growth and expansion of mineralization. Thirteen drill holes totalling 9,131.7m were dedicated to advancing the mineralization at PCE and six drill holes totalling 3,626.5m tested the parallel trend. Since discovery (see news release date March 11, 2024), 115 drillholes totalling 72,464.7m targeted PCE mineralization (Figure 4) with 79 of the 115 drill holes being mineralized, including 54 intersecting high-grade (>10,000 cps) and 21 intersecting off-scale (>61,000 cps).

Figure 1: Interpreted 3D model of PCE shown looking northwest (across strike) and northeast (along strike); previously reported in December 1, 2025 release, now with RK-26-271c1, RK-26-276, RK-26-280c1, and RK-26-285 intersections outlined in purple

Figure 2: Interpreted model of mineralization at PCE (as of this release); new holes emphasized by larger diameter pierce points and bold labels; view is a long section that looks perpendicular to the primary mineralized plane; total mineralized footprint in orange and the high-grade subdomains in red

Figure 3: Core photo from RK-25-280c1 displays semi-massive, off-scale (>61,000 cps) from uranium vein at 834m down hole

Figure 4: Core photo from RK-25-271c1 displays mineralization from 630.3 to 646.5m down hole with abundant high-grade and several instances of off-scale in competent basement rock; yellow outlines >1,000 cps, red outlines >10,000 cps, >61,000 cps outlined in purple

Figure 5: Map of PCE with completed 2026 drill holes; ground gravity in background, interpreted fault shown as black dashed line

Table 1: Spectrometer results since January 15, 2026 release

• All depths and intervals are meters downhole, true thicknesses are yet to be determined.
• "Off-scale" refers to >61,000 cps (counts per second) readings by gamma spectrometer type RS-125.
• "Anomalous" means >500 cps readings by gamma spectrometer type RS-120.
• Where "CPS Range" is <500 cps, this refers to local low radioactivity within the overall interval.
• Unconformity of 'N/A' denotes a lack of visible contact between Athabasca sandstone and basement rock.
• Maximum internal dilution 2.0 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 determined.

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future.  The Company's flagship Rook I Project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite environmental and social governance standards.  The Rook I Project is supported by an N.I. 43-101 compliant Feasibility Study, which outlines the elite environmental performance and industry-leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure.  NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically and environmentally.  The Project and prospective portfolio in northern Saskatchewan will provide generational, long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.             
 

NexGen is listed on the Toronto Stock Exchange, the New York Stock Exchange under the ticker symbol "NXE," and on the Australian Securities Exchange under the ticker symbol "NXG," providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security and access to power.  The Company is headquartered in Vancouver, British Columbia, with its primary operations office in Saskatoon, Saskatchewan.

Contact Information

Leigh Curyer

Chief Executive Officer
NexGen Energy Ltd.

+1 604 428 4112
lcuryer@nxe-energy.ca

www.nexgenenergy.ca

Travis McPherson

Chief Commercial Officer

NexGen Energy Ltd.

+1 604 428 4112

tmcpherson@nxe-energy.ca 

www.nexgenenergy.ca

Monica Kras

Vice President, Corporate Development

NexGen Energy Ltd.

+44 7307 191933

mkras@nxe-energy.ca
www.nexgenenergy.ca

Technical Disclosure*

All technical information in this news release has been reviewed and approved by Jason Craven, NexGen's Vice President, Exploration, a qualified person under National Instrument 43-101.

Natural gamma radiation in drill core reported in this news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-125 gamma spectrometer. 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.

A technical report in respect of the FS is filed on SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov/edgar.shtml ) and is available for review on NexGen Energy's website (www.nexgenenergy.ca ).

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission ("SEC") set by the SEC's rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the project and expected outcomes. 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 connotation thereof. Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property , the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse 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 in the future.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen's Annual Information Form dated March 6, 2024 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov .

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 statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.

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.