"NexGen Energy's Rook I Project: Navigating Regulatory Hurdles and Community Support"

NexGen Energy Ltd. has announced that the Canadian Nuclear Safety Commission (CNSC) has proposed Commission Hearing dates for its 100% owned Rook I Project. The hearings are scheduled for November 19, 2025, and February 9 to 13, 2026. This development marks a significant milestone in the regulatory process for the project, which has been underway since April 2019. The Rook I Project, located in northern Saskatchewan, aims to become the largest low-cost producing uranium mine globally, incorporating elite standards in environmental and social governance.

The regulatory journey for the Rook I Project has been extensive. NexGen received Provincial Environmental Assessment (EA) approval in November 2023 and has since completed the Federal technical review and the acceptance of the Federal Environmental Impact Statement as final. Additionally, all local communities in the project area have formally endorsed the project through Impact Benefit Agreements covering the entire life and closure of operations.



However, the proposed hearing dates have sparked mixed reactions. While NexGen and its Indigenous Nation partners are pleased that the final stage of project approval has been announced, they are also considering the implications of the timing. The Clearwater River Dene Nation (CRDN), Metis Nation-Saskatchewan (MN-S), and MN-S Northern Region II (NRII) have expressed frustration with the delay, stating that the absence of transparency and accountability from the CNSC is detrimental to their communities. Chief Clark of the CRDN highlighted the economic benefits of the project, noting that the delays have postponed critical employment and economic opportunities for their members.

The delay in the Commission Hearing presents both risks and opportunities for NexGen and its stakeholders. On the one hand, the delay could disrupt project timelines and increase costs, potentially straining relationships with Indigenous Nation partners and local communities. On the other hand, the additional time could allow NexGen to further refine its environmental and social governance practices, strengthen stakeholder engagement, and ensure a more inclusive and transparent decision-making process through participant funding.

The regulatory process for the Rook I Project is consistent with the challenges and timelines faced by similar uranium mining projects in Canada and globally. The Cigar Lake uranium mine in Saskatchewan and the Olympic Dam mine in Australia have both faced significant delays due to regulatory hurdles and technical challenges. These comparisons underscore the importance of thorough environmental assessments, stakeholder engagement, and regulatory scrutiny in ensuring the safety and sustainability of uranium mining projects.

In conclusion, while the proposed CNSC Commission Hearing dates for the Rook I Project present challenges, they also offer opportunities for NexGen to enhance its environmental and social governance practices and strengthen stakeholder engagement. The company's proactive approach and the progress made in the regulatory process could mitigate some of the negative impacts on stock performance and investor sentiment. As NexGen navigates these regulatory hurdles, it remains committed to delivering a project that leads the mining industry socially, technically, and environmentally, providing generational long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.