Saskatchewan approves NexGen’s 2025 site program at Rook I property

VANCOUVER - Saskatchewan’s Ministry of Environment has approved NexGen Energy Ltd.’s (TSX: NXE) (NYSE: NXE) (ASX: NXG) 2025 Site Program at its Rook I Property in the Athabasca Basin, the company announced Today. The uranium developer, currently valued at $3.79 billion, has seen its shares rise 5.4% in the past week. According to InvestingPro analysis, the company maintains a strong balance sheet with more cash than debt.

The program includes construction of a temporary exploration airstrip, expansion of exploration camp facilities by 373 beds, and improvements to site access roads. Work will begin in the coming weeks with camp commissioning expected in Q1 2026.

These infrastructure enhancements are designed to support NexGen’s exploration activities at the Patterson Corridor East (PCE) discovery, located 3.5 km east of the company’s Arrow deposit. According to the company, recent drill results at PCE indicate "another significant scale zone of high-grade basement hosted mineralization."

The program will prioritize local participation, creating employment and contracting opportunities for Indigenous and community members in the region. While the company reported a loss of $0.12 per share in the last twelve months, it maintains a solid financial health score according to InvestingPro analysis.

"The 2025 Site Program marks an exciting strategic milestone for our current and future activities," said Leigh Curyer, Founder and CEO of NexGen Energy, in the press release statement.

Saskatchewan Premier Scott Moe commented: "The Rook I Project is one of the most significant projects across the country and we are keen to see it prioritized by the Government of Canada accordingly."

NexGen holds over 190,000 hectares in Saskatchewan’s southwest Athabasca Basin. The company is currently focused on expanding mineralization at PCE, with drilling set to resume in June 2025.

The temporary exploration airstrip will be less than 1,000 meters in length and is intended to enhance worker safety while reducing vehicular transportation of personnel to the site.

In other recent news, NexGen Energy Ltd. has garnered significant attention due to its latest developments. The company reported a notable uranium discovery at its Rook I property, with drillhole RK-25-232 uncovering a broad zone of intense mineralization, enhancing the site’s potential. This discovery has expanded the high-grade subdomain significantly, positioning NexGen strategically within the uranium market. Additionally, Stifel analysts have initiated coverage of NexGen Energy with a Buy rating, setting a price target of Cdn$16.00. They emphasized the Rook I project’s anticipated production capacity and its critical role in the uranium market, projecting it as a key supply source between 2030 and 2036.

Desjardins also initiated coverage on NexGen Energy, assigning a Buy rating with a C$13.50 price target, highlighting the Rook I Arrow deposit’s significance. They expressed confidence in NexGen’s growth potential amidst a potential uranium supply shortfall. Meanwhile, IsoEnergy Ltd. announced its upcoming debut on the NYSE American, aiming to enhance visibility and access to a broader shareholder base. This strategic move is expected to position IsoEnergy favorably as global demand for uranium grows. These developments reflect the dynamic shifts within the energy sector, with both NexGen and IsoEnergy poised to capitalize on emerging opportunities.

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