EAGLE POINT AND ARROW ZONE ANALOGY

By: Garrett Ainsworth, BSc, PGeo INTRODUCTION TO EAGLE POINT: . Eagle Point deposits are located on the eastern edge of the Athabasca Basin, and are part of the Rabbit Lake Uranium district, which also includes the Rabbit Lake and Collins Bay deposits. . The Rabbit Lake Uranium District has produced more than 190 million pounds of uranium concentrates since production began in 1975 (http://www.cameco.com/businesses/uranium-operations/canada/rabbit-lake). . In 1987, a historical (non 43-101 compliant) “total ore reserve” for the Eagle Point deposits comprised approximately 140 Million pounds (64,000 tonnes) at an average grade of about 2.0% U3O8*. Production commenced in 1994. . The Eagle Point underground mine is in production today, and as of December 31, 2013 has:  estimated proven and probable reserves of 1,642,100 tonnes at 0.56% U3O8 (20.3 Million pounds U3O8);  estimated indicated resource of 1,152,600 tonnes at 0.80% U3O8 (20.2 Million pounds U3O8);  estimated inferred resource of 708,500 tonnes at 0.58% U3O8 (9.0 Million pounds U3O8).  Reference: http://www.cameco.com/businesses/uranium- operations/canada/rabbit-lake/reserves-resources . Eagle Point was initially discovered in 1980 by Gulf Minerals Canada Ltd. while drill testing geophysical and geochemical anomalies northeast along strike from the Collins Bay Uranium deposits. . The Eagle Point deposits are a series of moderately to steeply dipping tabular veins and lenses, which are concordant and discordant to variably graphitic Wollaston Group metasediments and underlying Archean granitoid gneiss.

EAGLE POINT AND ARROW ZONE SIMILARITIES: THE STRUCTURE . The Eagle Point and Collins Bay deposits are associated with northeast trending reverse faults where graphitic horizons exhibit breccia, shear, and crackle zones. Similar graphitic horizons are observed at the Arrow zone, which are thought to be related to Riedel shear structures. . Mineralization is often concentrated at intersections with cross cutting northerly sub- vertical wrench faults. . The lack of consistent association between mineralization and lithology, the discordant nature of the veins, and the presence of microstructures within the veins substantiates that mineralization is structurally controlled. . At Eagle Point, morphology of the faults has been influenced by the layered nature and marked contrasts in the competency of the Wollaston Group metasediments, by the Wollaston Group metasediment and Archean granitoid gneiss contact, and by folds within these rocks. This competency contrast exists at the Arrow zone, as the East Lloyd Domain metasediments and an Archean granodiorite/mafic complex contact. Further contrasts within the metasediments exist between hard silicified semipelite and soft pelite (+/- graphite). . Major reverse faults often develop within less competent graphitic metasediments, where portions of mineralized bodies are often controlled by these faults. However, significant mineralization is also observed with cross cutting faults in non-graphitic metasediments and granitoid gneiss. . Eagle Point deposits and the Arrow zone appear to plunge away from the Athabasca Basin.

THE ALTERATION . Zones of extreme alteration extend less than one meter to three meters from mineralization. Key alteration products associated with mineralization include sudoite (Mg-chlorite), illite, and carbonate. . Alteration spatially associated with mineralization comprises chloritization and illitization of feldspar, bleaching of mafic minerals, and hematization. Hematization is directly associated with mineralization, and is thought to be related to the most recent alteration event. . At Eagle Point, boron enrichment (dravite) is associated with the bleached zones within five to ten meters from mineralization and along the graphitic shear zones. In addition, the Arrow zone exhibits impressive dravite-breccia halos around the mineralization. . Carbonaceous material with a characteristic odour associated with higher grade mineralization has been observed as small sooty blebs and buttons.

THE MINERALIZATION . Uranium mineralization occurs as lenses, pods, and veins that are concordant and discordant to the metamorphic stratigraphy. . Differs significantly from typical unconformity-type uranium deposits where arsenides and other deleterious elements are not present. Uranium mineralization at Eagle Point (and the Arrow zone) contains few impurities which would affect the amenability of mineralization to processing. In addition, the Arrow zone contains notable concentrations of gold (10.0 m @ 10.78 g/t Au in drill hole AR-14-30), , and copper, which are potentially of economic interest. . Little chemical variation exists within the Eagle Point uranium deposits such that complex blending or grade control process is not required, which would increase the overall production costs. At this early stage of development, the Arrow zone appears to also show little chemical variation. . Intense clay hydrothermal alteration is restricted to mineralized zones, which has left the surrounding host basement rock as competent. This is favourable for underground mining extraction methods.

PROSPECTIVITY ALONG STRIKE . Eagle Point is at the edge of the present day Athabasca Basin where the Collins Bay A zone is located approximately 1.5 km along strike to the southwest within the Athabasca Basin. Collins Bay A zone was a flat lying unconformity-style uranium deposit that was extracted through open-pit mining from 1995 to 1997. Further to the southwest of Eagle Point, the Collins Bay B and D zones were also mined out unconformity-style deposits. . The Arrow zone is scarcely inside the present day Athabasca Basin where no drill testing has occurred within 4 km along strike to the northeast within the Athabasca Basin, and within 3 km along strike to the southwest outside of the Athabasca Basin.

* Limited. 1987. The Eagle Point Uranium Deposits. Geological Society. Economic Minerals of Saskatchewan. Pg. 78-98.

Information Contained In This Presentation This presentation is a summary description of NexGen Energy Ltd. NexGen or the and its business and does not purport to be complete. This presentation is not, and in no circumstances is it to be construed as, a prospectus, an advertisement, or a public offering of securities. No securities regulatory authority or similar authority has reviewed or in any way passed upon the document or the merits of the securities and any representation to the contrary is an offence.

Except where otherwise indicated, the information contained in this presentation has been prepared by NexGen and there is no representation or warranty by NexGen or any other person as to the accuracy or completeness of the information set forth herein. This presentation includes information on adjacent properties that was obtained from various publicly available sources referred to herein and the accuracy and completeness of such information has not been verified by NexGen. Except as otherwise stated, information included in this presentation is given as of the date hereof. Neither the delivery of this presentation nor any sale made under the terms described herein shall imply that the information herein is correct as of any date after the date hereof.

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Cautionary Note Regarding Forward-looking Information Statements contained in this presentation that are not current or historical factual statements may constitute -looking within the meaning of applicable securities laws including statements with respect to the properties, a concurrent financing, our plans for exploration and development of our properties and our financial condition, operations and prospects. The forward-looking information reflects current expectations regarding future results, performance or achievements and speaks only as of the date of this presentation. When used in this presentation, forward- looking information can be identified by such words as “intend”, “estimate” and other similar terminology. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed in or implied by such information. Such risks, uncertainties and other factors include, but are not limited in any manner to those risks set forth in this presentation under the heading “Risk Factors”, including, the risk that no mineralization will be identified on the Radio and Rook I properties; the Company’s dependence on third party financing; the Company’s limited operating history; risks inherent in exploration activities; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The foregoing list of factors is not exhaustive.

The forward-looking information contained in this presentation requires management to make certain assumptions including with respect to the financing and its ability to successfully develop its properties. Although management of the Company believes that the assumptions underlying, and the expectations reflected in, the forward-looking information are reasonable, significant risks and uncertainties are involved in such information. Management can give no assurances that its assumptions, estimates and expectations will prove to have been correct. Forward- looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not or the times at or by which such performance or results will be achieved. Many factors that are beyond the Company’s control could cause actual results to differ materially from the results discussed in the forward-looking statements.