Saskatchewan Athabasca Basin Development 

Project Overview

Canada's largest development-stage uranium project featuring the world-class Arrow deposit in Saskatchewan's prolific Athabasca Basin, with comprehensive Indigenous partnerships and advancing through final federal approval stage for mine construction. 

Location & Jurisdiction Southwestern Athabasca Basin, northern Saskatchewan, approximately 155 km north of La Loche 

• Province: Saskatchewan 

• Region: Patterson Lake peninsula 

• Traditional territories: Treaty 8 territory, Homeland of the Métis, traditional territories of Dene, Cree, and Métis peoples 

Indigenous Partners Four Indigenous Nations with Formal Consent: 

1. Clearwater River Dene Nation (CRDN) - most directly affected community 
2. Métis Nation-Saskatchewan 
3. MN-S Northern Region II 
4. English River First Nation 

All four Nations have signed Impact Benefit Agreements covering complete project lifecycle including closure. 

Key Statistics 

• Developer: NexGen Energy Ltd. (TSX: NXE; NYSE: NXE; ASX: NXG) 

• Flagship Deposit: Arrow (within Rook I property) 

• Measured & Indicated Resources: 256.7 million lbs U3O8 (98,739 tU) in 3.75 million tonnes @ 3.1% 

• Initial Mine Life: 10.7 years (average production: 21.7 million lbs/year U3O8) 

• Peak Annual Production: Up to 30 million lbs U3O8 

• Pre-Production Capital: CAD $1.3 billion 

• Employment: Significant workforce during construction and operations 

Indigenous Partnership Model Industry-Leading Consent Framework: 

• Four Indigenous Nations have provided formal legal consent through Impact Benefit Agreements 

• Agreements cover complete project lifecycle: development, operation, closure, reclamation 

• Environmental, cultural, economic, and employment benefits clearly defined 

• NexGen CEO Leigh Curyer: "No other project has had this level of support from Indigenous communities" 

CRDN Chief Teddy Clark Statement: "No other project will have such a positive impact on our community. This partnership is a model for reconciliation and economic development." 

Economic Benefits for Indigenous Communities: 

• Direct employment opportunities across project phases 

• Business and contracting opportunities for Indigenous enterprises 

• Revenue sharing and royalty participation 

• Skills training and capacity building programmes 

• Community infrastructure investment 

• Economic self-determination support 

Federal & Provincial Engagement: 

• Four Nations assigned procedural aspects of duty to consult by Saskatchewan Ministry of Environment 

• Identified as primary Indigenous Nations by Canadian Nuclear Safety Commission (CNSC) 

• Continuous engagement since project inception 

Government & Regulatory Support Federal Approval Process: 

• March 2025: CNSC announced commission hearing dates  

• Part 1: November 19, 2025 

• Part 2: February 9-13, 2026 

• Final stage of six-year approval process 

• January 2025: CNSC staff deemed Final Environmental Impact Statement (EIS) acceptable  

• 271 information requests addressed 

• Comprehensive technical review by Federal Indigenous Review Team (FIRT) 

• EA Report preparation underway for Indigenous and public review 

Provincial Approval: 

• August 2023: Final Provincial EIS submitted to Saskatchewan Ministry of Environment 

• Conformity review completed 

• Public review process conducted 

• Provincial EA advancing alongside federal process 

Saskatchewan Government Support: 

• October 2025: Energy and Resources Minister visited project site 

• 2024 Saskatchewan uranium sales: Record CAD $2.6 billion (exceeded 2030 target early) 

• 2024 uranium production: Record 16.7 thousand tonnes (28% increase vs 2023) 

• 2025 uranium exploration spending: Expected to exceed CAD $400 million (40% increase vs 2022) 

Project Development Status Current Phase: Final federal approval (CNSC hearings) 

Timeline to Production: 

• November 2025: CNSC hearing Part 1 

• February 2026: CNSC hearing Part 2 

• Post-Hearing: CNSC renders final approval decision 

• 2026-2027: Front-end engineering design completion 

• 2027-2028: Construction commencement (subject to approvals) 

• 2030+: Production start (timing depends on approval schedule) 

Technical Approach: 

• Underground mine and mill development 

• Located in uranium-rich district of Athabasca Basin 

• Home to world's largest high-grade uranium reserves 

• Integrated federal-provincial licensing approach 

Sustainability & ESG Credentials Environmental Performance: 

• Comprehensive environmental impact statement accepted by regulators 

• Robust technical review addressing 271 information requests 

• Mitigation measures for all identified impacts 

• Long-term monitoring and adaptive management 

Indigenous Leadership: 

• Formal consent from four Indigenous Nations 

• Impact Benefit Agreements ensure community benefits throughout lifecycle 

• Economic reconciliation model for remote First Nations 

• Co-developed environmental monitoring protocols 

Community Initiatives (ongoing): 

• Economic development programmes in local communities 

• Health and community wellbeing initiatives 

• Skills training and employment preparation 

• Infrastructure improvements in partner communities 

Investment Proposition for UK/European Investors Strategic Uranium Supply: 

• World's largest development-stage uranium project 

• Arrow: One of world's leading uranium resources 

• Saskatchewan: World's second-largest uranium producer 

• Athabasca Basin: Highest-grade uranium district globally 

Nuclear Energy Context: 

• Global uranium demand rising with nuclear renaissance 

• Small modular reactors (SMRs) driving new demand 

• Energy security concerns post-Ukraine invasion 

• Net-zero commitments require nuclear baseload power 

• Canada-UK civil nuclear cooperation agreement 

Secure Jurisdiction: 

• Saskatchewan: #1 Canadian jurisdiction for mining investment (Fraser Institute) 

• Canada: Stable democracy with strong rule of law 

• Established regulatory framework (CNSC world-respected) 

• 60+ years uranium mining experience in Saskatchewan 

ESG Leadership: 

• Unprecedented Indigenous consent framework 

• Four Nations' formal legal support 

• Economic reconciliation model 

• Rigorous environmental assessment 

• Community investment programmes 

Recent Developments January 2025: Federal-First Nations Regional Assessment Agreement 

• Impact Assessment Agency and 15 First Nations finalized terms for Ring of Fire regional assessment 

• Demonstrates increasing Indigenous co-governance in resource development 

• Sets precedent for comprehensive regional planning 

2024 Saskatchewan Record Performance: 

• Uranium sales surpassed 2030 targets six years early 

• Production increased 28% year-over-year 

• Exploration spending growth signals sector confidence 

• Political support across spectrum 

Market Context: 

• Uranium spot prices strengthened significantly 2023-2025 

• Supply constraints from Kazakhstan, Niger complications 

• Reactor restarts and new builds globally 

• SMR deployment beginning North America and UK 

Key Contacts 

• Developer: NexGen Energy Ltd. 

• CEO: Leigh Curyer 

• Website: www.nexgenenergy.ca 

• CNSC: www.cnsc-ccsn.gc.ca 

• Clearwater River Dene Nation: Chief Teddy Clark 

Investment Considerations Opportunities: 

• World-class uranium deposit in premier jurisdiction 

• Unprecedented Indigenous support (four Nations' consent) 

• Final approval stage after six-year process 

• Record Saskatchewan uranium market performance 

• Global uranium supply constraints 

• Nuclear energy renaissance supporting demand 

• Strong ESG credentials attract institutional capital 

• Government support at federal and provincial levels 

Risk Factors: 

• Regulatory approval timing uncertainty (CNSC hearings 2025-2026) 

• Construction capital requirement (CAD $1.3 billion) 

• Uranium price volatility 

• First Nations expectations for ongoing benefits must be met 

• Remote location operational challenges 

• Nuclear sector regulatory complexity 

• Public perception of uranium mining 

Timeline Considerations: 

• Chief Teddy Clark expressed urgency about approval delays 

• Six-year approval process has delayed economic opportunities 

• Indigenous communities eager for construction and employment to begin 

• Final hearings represent culmination of comprehensive review 

Competitive Position: 

• Largest development uranium project in Canada 

• Arrow deposit globally significant 

• Established infrastructure in Saskatchewan 

• Experienced management team 

• Strong balance sheet for development 

• Indigenous partnerships provide social licence advantage 

Investor Resources: 

• NexGen Energy corporate presentations 

• CNSC Environmental Assessment Report (October 2025) 

• Saskatchewan Ministry of Environment EIS materials 

• Impact Benefit Agreements (confidential) 

• CNSC public hearing documents