NexGen Expands High-Grade Subdomain Vertical Extent by 17% to 644 m and Intersects Continuous Strong Mineralization Across Patterson Corridor East (PCE) while Adding Fifth Drill to Advance Optimally

NexGen Energy Ltd. (NXE) reported early 2026 summer drilling progress at the Patterson Corridor East (PCE) in the Rook I region on August 25, 2026. The release relied on handheld RS-125 gamma spectrometer counts per second (cps) rather than new assay grades.

Key results from the drilling program include:

• Hole RK-26-290c1: Cumulative >61,000 cps, with 19.5 m of >10,000 cps within multiple stacked uranium veins, including 5.2 m of >61,000 cps across a 40 m high-grade subdomain interval.
• Hole RK-26-294: Cumulative 6.9 m >10,000 cps, including 3.1 m >61,000 cps, located 27 m up-dip of RK-24-222 which previously returned 17.0 m at 3.85% U3O8.
• Hole RK-26-293: Expanded the vertical extent of the high-grade subdomain by 94 m to 644 m and to 930 m depth; returned cumulative 4.7 m >10,000 cps including 0.1 m >61,000 cps.
• Hole RK-26-296: Expanded the up-dip subdomain by about 50 m along strike; cumulative 3.5 m >10,000 cps including 0.4 m >61,000 cps.

The company has completed 20,138.7 m of the planned 42,000 m for 2026. Eleven summer holes totalling 7,425.2 m tested PCE. NexGen is adding a fifth drill rig, and samples are being submitted to the Saskatchewan Research Council, with assays pending.

NexGen Energy Ltd. (NXE) did not issue an earnings release or provide new financial statements in this update. According to the company’s Q2 2026 MD&A, prior-period net income of $74.5 million was primarily driven by a $96.5 million non-cash convertible debenture mark-to-market gain. The company reported cash holdings of $756.2 million and short-term investments of $214.1 million.

NexGen is not a pre-resource explorer; its core value lies in the 100% owned Rook I construction project at Arrow. The project received final federal approval in March 2026, with construction commencing in June 2026.

This release provides geological geometry and radiometric intensity data rather than resources, reserves, or economic grade. While the Pre-Cursor Extension (PCE) remains an important source of optionality, the update is consistent with and mildly positive toward the existing PCE growth thesis. The data does not de-risk the PCE sufficiently to be considered material without subsequent assay confirmation.

Against this backdrop, the stock has re-rated strongly from approximately $9.87 to $18.84, followed by a correction to $12.28 and a recovery to $15.13. Much of the earlier price movement reflected Rook I approval and construction progress, as well as PCE developments, rather than this specific release.

NexGen Energy Ltd. is a uranium development company listed on the TSX, NYSE, and ASX under the ticker NXE/NXG. Its flagship asset is the 100% owned Rook I Project, which hosts the Arrow deposit in the southwestern Athabasca Basin of Saskatchewan. The company’s land package spans more than 190,000 hectares, with the PCE area located roughly 3.5 km west of Arrow serving as the main exploration upside. Additionally, the company holds approximately 27.8% of IsoEnergy after dilution, providing further uranium exposure.

According to the 2021 Feasibility Study, the project contains probable mineral reserves of 4,575 kt at 2.37% U3O8 for 239.6 Mlbs U3O8. Measured and indicated resources total 3,754 kt at 3.10% U3O8 for 256.7 Mlbs U3O8, while inferred resources amount to 4,399 kt at 0.83% U3O8 for 80.7 Mlbs. Planned peak production is set at about 30 million pounds U3O8 per year.