NexGen Energy Drills Best Hole to Date and Fission Uranium Discovers New Zone

Mar 31, 2014

NexGen Drills Best Hole To Date at Arrow. RK-14-30 Intersects Numerous Zones of Mineralization Totalling 47.2 Meters

Highlights
 

• Hole RK-14-30 (a 215 meter step out from the Arrow discovery hole RK-14-21) located in the Arrow gravity anomaly intersected the widest and strongest radiometrically anomalous zones encountered to date (numerous zones totalling 47.2 meters, including numerous individual zones totalling 8.3 meters >10,000 cps)

• Arrow mineralized zone is currently extended to approximately 215m strike length and is open to the south-west

• Seven of the eight holes drilled at the Arrow discovery have intersected radioactively anomalous zones

• Fully funded with $15M cash at bank to aggressively drill Arrow and other Rook I targets throughout 2014

NexGen Energy Ltd. (TSX-V: NXE) (“NexGen” or the “Company”) is pleased to announce its best hole to date (RK-14-30) at the Arrow Discovery, Rook I, South West Athabasca Basin. Additionally, holes RK-14-28 and -29 which have been completed since the last drilling report press released on 13 March 2014, also intersected uranium mineralization. This takes the total to 7 out of the 8 holes at Arrow having intersected uranium mineralization over a minimum strike length of 215 meters which remains open to the south-west. These holes are the successful completion of NexGen’s winter drilling program at the Rook. In total, 17 holes were completed during the winter for 7,442.2 meters (Table 1), completing a grand total of 10,474.4 meters having been drilled at Rook 1 including the 2013 summer program.

 

The winter program was extremely successful, resulting in the virgin discovery of the Arrow prospect, adding to the uranium mineralization found at Area A in summer 2013, and the radiometric anomalism found at Dagger in early winter 2014.

Andrew Browne, NexGen’s Vice-President, Exploration and Development, commented “The dimensions of the Arrow discovery have now been significantly broadened in only 8 holes (Fig 1 for locations). Detailed petrography and petrophysics are the immediate programs during breakup, and we are looking forward to our summer drilling program to further test the wider Arrow prospect. Additionally, we are greatly motivated to apply what we have discovered at Arrow to other prospects at Rook I.”

Leigh Curyer, NexGen’s CEO commented, “We are extremely pleased with the discovery of Arrow. Hole RK-14-30 was a massive step out from the discovery hole RK-14-21, which shows the confidence of our technical team’s view in the discovery. Arrow is open and we are fully funded with $15M cash in the bank to aggressively drill it and other Rook I prospects throughout 2014.”

Fission Discovers New Zone with 465m Step-Out; More Off-Scale in Multiple Holes

New R1620E zone increases PLS on-trend strike length to 2.24km

KELOWNA, BRITISH COLUMBIA--(Marketwired - March 31, 2014) - FISSION URANIUM CORP. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce results from six new holes at its PLS property in Saskatchewan's Athabasca Basin. All six holes intersected considerable mineralization. Of particular note and importance is hole PLS14-196 on line 1620E. The hole intersected total composite mineralization of 30.5m on line 1620E, approximately 465m east of PLS14-190. Its location marks a new mineralized zone (R1620E) and increases the PLS discovery's on-trend strike length from 1.78km to 2.24km.Hole PLS14-196 is still in progress.

Further step out success: Of additional significance is the location and mineralization of two other step out holes. PLS14-189 (line 1080E) is a 75m grid east step-out from PLS14-185 (1005E) and shows multiple, well-developed zones similar to other holes to the west of it. Also significant, PLS14-190 (line 1155E) located approximately 15m grid south of PLS13-103 is locally well mineralized. This increase in strength and width of mineralization to the south on the R1155E zone suggests that further step-outs to the south may be prospective.

Drilling Highlights include:

New zone and further expansion of existing zones

• Zone R1620E identified 465m east of zone R1155E
• PLS on-trend strike length increased from 1.78km to 2.24km
• Zone 1155E expanding with stronger mineralization to the south

Hole PLS14-189 (line 1080E)

• 82.5m total composite mineralization (between 221.0m - 469.0m) including:
  • 4.2m total composite off-scale (>9999 cps) radioactivity

Hole PLS14-192 (line 630E)

• 99.0m total composite mineralization (between 94.0m - 220.0m) including:
  • 1.1m total composite off-scale (>9999 cps) radioactivity

Ross McElroy, President, COO, and Chief Geologist for Fission, commented,

"PLS has advanced in scale by a considerable degree with the latest step-outs to the east, which come soon after winter drilling has successfully merged four high-grade zones into one. Successfully tracing high-grade mineralization in a 75m grid east step-out and the discovery of a new zone of mineralization a further 485m east along strike trend speak to the tremendous upside of this mineralized system."