<SEC-DOCUMENT>0001279569-18-001658.txt : 20180809
<SEC-HEADER>0001279569-18-001658.hdr.sgml : 20180809
<ACCEPTANCE-DATETIME>20180809124451
ACCESSION NUMBER:		0001279569-18-001658
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20180630
FILED AS OF DATE:		20180809
DATE AS OF CHANGE:		20180809

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NexGen Energy Ltd.
		CENTRAL INDEX KEY:			0001698535
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				840123707
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38072
		FILM NUMBER:		181004245

	BUSINESS ADDRESS:	
		STREET 1:		1021 WEST HASTINGS STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 0C3
		BUSINESS PHONE:		(604) 428-4112

	MAIL ADDRESS:	
		STREET 1:		1021 WEST HASTINGS STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 0C3
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>nexgen6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-top: Black 5.25pt double; border-bottom: Black 5.25pt double; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>
        <P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>___________________</B></P>
        <P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: center"><B>Form 6-K</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
        TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">For the month of  August 2018</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Commission File Number 001-38072</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>___________________</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>NexGen Energy Ltd.</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Suite 3150, 1021 &ndash; West Hastings Street<BR>
        Vancouver, B.C., Canada V6E 0C3</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>___________________</B></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Indicate by check mark whether the registrant files or will file
        annual reports under cover of Form 20-F or Form 40-F.)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Form
        20-F </FONT><FONT STYLE="font-family: Wingdings 2">&#163;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#9;Form
        40-F </FONT><FONT STYLE="font-family: Wingdings 2">R</FONT></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicate
        by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) </FONT><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicate
        by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) </FONT><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 1in">.<B>&nbsp;</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>DOCUMENTS FILED AS PART OF THIS FORM 6-K</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">See the Exhibit Index hereto.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on
August 9, 2018.</P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>NEXGEN ENERGY LTD.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 39%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 6%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">
    /s/ Bruce Sprague&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Mr.
    Bruce Sprague</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CFO
    and Corporate Secretary</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 3in; text-indent: -3in">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><U>Exhibit</U></B></FONT></TD>
    <TD STYLE="width: 83%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B><U>Description</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex991.htm">99.1</A></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex991.htm">Unaudited Condensed Consolidated Interim Financial Statements for Periods Ending June 30, 2018 and 2017</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex992.htm">99.2</A></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex992.htm">Management&rsquo;s Discussion and Analysis for the Six Months Ended June 30, 2018</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex993.htm">99.3</A></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex993.htm">Form 52-109F2 Certification of Interim Filings - Chief Executive Officer</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex993.htm">99.4</A></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><A HREF="ex994.htm">Form 52-109F2 Certification of Interim Filings - Chief Financial Officer</A></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991.htm
<DESCRIPTION>Q2 2018 FINANCIAL STATEMENTS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="logo.jpg" ALT="" STYLE="height: 200; width: 467"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: left">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center">Unaudited Condensed Consolidated Interim
Financial Statements of</P>

<P STYLE="font: bold 20pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">NEXGEN ENERGY LTD.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 12pt; text-align: center">June 30, 2018 and 2017</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 12pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 12pt; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="font-size: 9.5pt; font-weight: bold">NEXGEN ENERGY LTD.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="font-size: 9.5pt; border-bottom: Black 1pt solid"><P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0"><B>CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION</B></P> <P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0">(Expressed in Canadian Dollars)</P> <P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P> <P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0">As at</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; vertical-align: middle">Note</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right"><P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>&nbsp;</B></P><P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>June 30,</B></P> <P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>2018</B></P></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">December 31, <BR>2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">ASSETS</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Current</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Cash and cash equivalents</TD><TD STYLE="width: 5%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="width: 11%; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="width: 5%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 11%; font-weight: bold; text-align: right">142,929,234</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">164,943,850</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Amounts receivable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">359,695</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">548,069</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;Prepaid expenses</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">522,452</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">158,875</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">143,811,381</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">165,650,794</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-left: 5.4pt">Non-current</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">&nbsp;&nbsp;Deposits</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">6</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">94,711</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,927</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Exploration and evaluation assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">5</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">174,476,196</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">152,412,555</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;Equipment</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: middle">7</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,648,607</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,983,074</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">181,219,514</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">157,428,556</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: 9.05pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">TOTAL ASSETS</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">325,030,895</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">323,079,350</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-left: 5.4pt">LIABILITIES</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-left: 5.4pt">Current</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Accounts payable and accrued liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">3,795,486</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,905,179</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;Flow-through share premium liability</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: middle">6</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">181,376</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">109,251</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,976,862</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,014,430</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-left: 5.4pt">Non-current</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Deferred income tax liability</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">380,602</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">280,740</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Deferred lease inducement</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">53,461</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,509</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;Convertible debentures</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: middle">8</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">150,666,483</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">171,369,966</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">151,100,546</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">171,724,215</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 9pt; line-height: 95%">&nbsp;&nbsp;<B>TOTAL LIABILITIES</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">155,077,408</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">174,738,645</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-left: 5.4pt">EQUITY</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">&nbsp;&nbsp;Share capital</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">9</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">202,819,275</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">196,311,184</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">&nbsp;&nbsp;Reserves</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">9</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">35,247,213</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,050,059</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Accumulated other comprehensive loss</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">4</TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(503,146</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;Accumulated deficit</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(82,490,124</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(88,038,390</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">155,073,218</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">136,322,853</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;Non-controlling interests</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,880,269</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,017,852</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">TOTAL EQUITY</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">169,953,487</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">148,340,705</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">TOTAL LIABILITIES AND EQUITY</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">325,030,895</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">323,079,350</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 2.6in 0 0.1in; text-indent: 1.8pt">&nbsp;</P>

<P STYLE="font: bold 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 2.6in 0 0.1in; text-indent: 1.8pt">Nature of operations (Note
2)</P>

<P STYLE="font: bold 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 2.6in 0 0.1in; text-indent: 1.8pt">Commitments (Note 6)</P>

<P STYLE="font: bold 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 2.6in 0 0.1in; text-indent: 1.8pt">&nbsp;</P>

<P STYLE="font: bold 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 2.6in 0 0.1in; text-indent: 1.8pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 7.1pt; text-indent: 0in">The accompanying notes are an integral
part of the condensed consolidated interim financial statements.</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.1in">These condensed consolidated
interim financial statements were authorized for issue by the Board of Directors on August 8, 2018.</P>

<P STYLE="font: bold 10pt/95% Arial, Helvetica, Sans-Serif; margin: 0 2.6in 0 0.1in; text-indent: 1.8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom"><TD NOWRAP STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9.5pt; line-height: 95%"><B>NEXGEN ENERGY LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0"><B>CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS (PROFIT)
        AND COMPREHENSIVE LOSS (PROFIT)</B></P>
        <P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0">(Expressed in Canadian Dollars)</P>
        <P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>
        <P STYLE="font: 9.5pt/95% Arial, Helvetica, Sans-Serif; margin: 0">As at</P></TD></TR></TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-right: 9pt; padding-left: 9pt">&nbsp;</TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>For the three</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>months ended</B></P></TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>For the six</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>months ended</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;Note</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>June 30,</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>2018</B></P></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>June 30,</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>2017</B></P></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>June 30,</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>2018</B></P></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>June 30,</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>2017</B></P></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; padding-left: 5.4pt">Salaries, benefits and directors&rsquo; fees</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,726,221</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">615,611</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,703,396</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,481,857</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Office and administrative</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">392,305</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">271,122</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">865,249</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">661,327</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Professional fees</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">323,709</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">546,944</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">937,652</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">844,237</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">Travel</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">223,376</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">201,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">426,147</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">330,487</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">339,970</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">158,835</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">623,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">371,112</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Share-based payments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">9, 10</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,433,453</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,740,442</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,141,010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,740,796</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Finance income</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(617,126</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(133,549</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,209,671</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(308,046</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8.5pt; text-align: left; padding-left: 5.4pt">Mark to market loss (gain) on convertible debentures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,520,153</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,275,171</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20,703,483</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,884,777</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,148,350</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,490,640</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,993,926</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,989,365</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Foreign exchange loss (gain)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,024,967</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">365,845</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,347,525</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">512,226</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Loss on disposal of equipment</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,815</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,065</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Loss (profit) from operations</B></P></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">24,472,259</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(3,017,806</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(5,563,665</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">22,508,138</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;Deferred income tax expense (recovery)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(62,605</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(109,347</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(53,573</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">71,275</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Loss (profit) and comprehensive loss (profit) for the period</B></P></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">24,409,654</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(3,127,153</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(5,617,238</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">22,579,413</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Loss (profit) and comprehensive loss (profit) attributable to:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;&nbsp;Shareholders of NexGen Energy Ltd.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24,304,876</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(3,324,392</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(5,937,322</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">22,152,787</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;Non-controlling interests in IsoEnergy Ltd.</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">104,778</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">197,239</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">320,084</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">426,626</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt; border-bottom: Black 2pt double">Loss (profit) and comprehensive loss (profit) for the period</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt; border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt; border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: right">24,409,654</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt; border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: right">(3,127,153</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left; border-bottom: Black 2pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt double; text-align: right">(5,617,238</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt double; text-align: right">22,579,413</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Loss (profit) per common share attributable to the Company&rsquo;s common shareholders</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.25in"><B></B></P></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-left: 5.4pt"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.25in"><B>Basic Loss (profit) per common
                                                                                                                               share</B></P></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.07</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.01</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.02</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.07</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-left: 5.4pt; border-bottom: Black 2pt double"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B></B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.25in"><B>Diluted Loss (profit) per common
                                                                                                                               share</B></P></TD><TD STYLE="font-size: 10pt; border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">0.07</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">0.01</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">0.02</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">0.07</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Weighted average number of common shares outstanding</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.25in"><B></B></P></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Basic</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.25in"><B></B></P></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">343,884,155</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">309,363,865</TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">343,259,173</TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">307,883,909</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt; border-bottom: Black 2pt double"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Diluted</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.25in"><B></B></P></TD><TD STYLE="font-size: 10pt; border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">343,884,155</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">309,363,865</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">406,662,992</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2pt double"></TD><TD STYLE="text-align: right; border-bottom: Black 2pt double">307,883,909</TD><TD STYLE="text-align: left; border-bottom: Black 2pt double">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">The accompanying notes are an integral part of
the condensed consolidated interim financial statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>NEXGEN ENERGY LTD.</B></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">(Expressed in Canadian Dollars)</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">(Unaudited)</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 8.5pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 7pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">Accumulated</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">Number of</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">other</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">Common</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">Share</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">comprehensive</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">Accumulated</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">Non-controlling</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">Note</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">Capital</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">Reserves</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">Profit (Loss)</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">Deficit</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right; border-bottom: Black 1pt solid">Interests</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid">Total</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Balance as at December 31, 2016</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 5%; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">306,190,287</TD><TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 5%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">125,735,515</TD><TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 5%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">17,005,665</TD><TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 5%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(32,743,616</TD><TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="width: 2%; font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 5%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9,008,702</TD><TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 5%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">119,006,266</TD><TD STYLE="width: 1%; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Exercise of warrants</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">5,714,286</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">2,857,143</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">2,857,143</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Exercise of options</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">1,008,333</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">1,052,845</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(478,512</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">574,333</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Issue of shares on convertible</TD><TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 5pt">debenture interest payment</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">327,863</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">963,917</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">963,917</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 1pt">Share-based payments</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">5,055,181</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">5,055,181</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Issue of shares of subsidiary to</TD><TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 7pt">non-controlling interests</TD><TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">107,438</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">802,154</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">909,592</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; padding-left: 1pt; border-bottom: Black 1pt solid">Loss for the period</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(22,152,787</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(426,626</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(22,579,413</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 1pt; border-bottom: Black 1pt solid">Balance as at June 30, 2017</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">313,240,769</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">130,609,420</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">21,582,334</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(54,788,965</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9,384,230</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">106,787,019</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Balance as at December 31, 2017</TD><TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">339,339,356</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">196,311,184</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">28,050,059</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(88,038,390</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">12,017,852</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">148,340,705</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Exercise of options</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">5,433,334</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">4,353,949</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(1,708,615</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">2,645,334</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Issue of shares on convertible</TD><TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 5pt">debenture interest payment</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">745,378</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">2,154,142</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">2,154,142</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 1pt">Share-based payments</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">9</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">8,905,769</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">8,905,769</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-left: 1pt">Issue of shares of subsidiary to</TD><TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 7pt">non-controlling interests</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 6.5pt">5(c), 6</FONT></TD><TD NOWRAP STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(892,202</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">3,182,501</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">2,290,299</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-left: 1pt">Profit (loss) for the period</TD><TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">5,937,322</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(320,084</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">5,617,238</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; padding-left: 1pt; border-bottom: Black 1pt solid">Impact of adopting IFRS 9</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">4</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(503,146</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">503,146</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 1pt; border-bottom: Black 1pt solid">Balance as at June 30, 2018</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">345,518,068</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">202,819,275</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">35,247,213</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(503,146</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">(82,490,124</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">14,880,269</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: bold 6.5pt Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: right">169,953,487</TD><TD STYLE="padding-bottom: 1pt; font: bold 6.5pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in"></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">The accompanying
notes are an integral part of the condensed consolidated interim financial statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-indent: 0in"></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 6pt">&nbsp;</P>


<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 6pt"></P>

<P STYLE="font: 12pt/1.1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-size: 11pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">NEXGEN ENERGY LTD.<BR>
    CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS<BR>
    (Expressed in Canadian Dollars)<BR>
    (Unaudited)<BR>
    For the six months ended</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">June 30,</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">June 30,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 6pt">Cash flows (used in) from operating activities</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 56%; text-align: left; padding-left: 15pt">Profit (loss) for the period</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">5,617,239</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(22,579,413</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 15pt">Items not involving cash:</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 24pt">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">623,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">371,112</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 24pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 24pt">Share-based payments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,141,010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,740,796</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 24pt">Amortization of deferred lease inducement</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20,048</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20,048</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 24pt">Unrealized foreign exchange loss (gain) on cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,285,796</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">420,696</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 24pt">Deferred income tax expense (recovery)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(53,573</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,275</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 24pt">Mark to market loss (gain) on convertible debentures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20,703,483</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,884,777</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 24pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,993,926</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,989,365</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 24pt">Loss on disposal of equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,065</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 16pt">Changes in non-cash working capital items:</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 24pt">Amounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">188,374</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">344,908</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 24pt">Prepaid expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(363,577</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(310,465</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 24pt">Deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(61,784</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,075</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 24pt; border-bottom: Black 1pt solid">Accounts payable and accrued liabilities</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(799,612</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(935,174</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(4,717,690</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(4,032,246</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 6pt">Cash flows (used in) from investing activities</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 15pt">Exploration and evaluation asset expenditures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17,605,107</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16,647,155</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 15pt">Acquisition of equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,659,443</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(588,900</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 15pt; border-bottom: Black 1pt solid">Redemption of short-term investments</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">34,478,100</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(19,264,550</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">17,242,045</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 6pt">Cash flows (used in) from financing activities</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 14pt">Cash from exercise of options and warrants, net of share issuance costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,645,334</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,431,476</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8.5pt; text-align: left; padding-left: 14pt">Shares of subsidiary issued to non-controlling interests for cash, net of share issuance costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">924,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,017,249</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 14pt; border-bottom: Black 1pt solid">Interest paid on convertible debentures</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,888,006</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,025,450</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(318,172</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,423,275</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 6pt">Change in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(24,300,412</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,633,074</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 6pt">Cash and cash equivalents, beginning of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">164,943,850</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,090,313</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 6pt; border-bottom: Black 1pt solid">Effect of exchange rate fluctuations on cash held</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,285,796</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(420,696</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2pt double; padding-left: 6pt">Cash and cash equivalents, end of period</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double; text-align: right">142,929,234</TD><TD STYLE="border-bottom: Black 2pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double; text-align: right">46,302,691</TD><TD STYLE="border-bottom: Black 2pt double; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 6pt">Cash and cash equivalents consist of:</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 6pt">Cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">142,929,234</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,537,528</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 6pt; border-bottom: Black 1pt solid">Cash equivalents</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36,765,163</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2pt double; padding-left: 6pt">Cash and cash equivalents</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt double; text-align: right">142,929,234</TD><TD STYLE="border-bottom: Black 2pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt double; text-align: right">46,302,691</TD><TD STYLE="border-bottom: Black 2pt double; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt/10.15pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 1pt"><B>Supplemental disclosure with respect to cash flows
(Note 14)</B></P>



<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in"></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">The accompanying
notes are an integral part of the condensed consolidated interim financial statements.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 2.15pt 0 0 0.1in; text-align: center; text-indent: -0.1in">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>



<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REPORTING
ENTITY</P>

<P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify">NexGen Energy Ltd. (&ldquo;NexGen&rdquo;
or the &ldquo;Company&rdquo;) is an exploration stage entity engaged in the acquisition, exploration and evaluation of uranium
properties in Canada. The Company was incorporated pursuant to the provisions of the British Columbia <I>Business Corporations
Act</I> on March 8, 2011. The Company&rsquo;s registered records office is located on the 25<SUP>th</SUP> Floor, 700 West Georgia
Street, Vancouver, B.C., V7Y 1B3.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">On April 19, 2013, the Company (as
it was then called, Clermont Capital Inc. (&ldquo;Clermont&rdquo;)) completed its qualifying transaction, which was effected pursuant
to an amalgamation agreement dated December 31, 2012 (the &ldquo;Amalgamation Agreement&rdquo;) amongst Clermont, 0957633 B.C.
Ltd., a wholly owned subsidiary of Clermont, and NexGen Energy Ltd. (&ldquo;Old NexGen&rdquo;). Pursuant to the Amalgamation Agreement,
the shareholders of Old NexGen were issued one common share of Clermont (on a post-share consolidation basis) for every one Old
NexGen common share held immediately prior to the completion of the amalgamation. In connection with the Qualifying Transaction,
Clermont also completed a consolidation of its common shares on a 2.35:1 basis and changed its name to &ldquo;NexGen Energy Ltd.&rdquo;.
The Company&rsquo;s acquisition of Old NexGen was accounted for as a reverse takeover.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company commenced trading on the
TSX Venture Exchange (&ldquo;TSX-V&rdquo;) as a Tier 2 Issuer under the symbol &ldquo;NXE&rdquo; on April 23, 2013. On August 7,
2015, the Company became a Tier 1 Issuer. On July 15, 2016, NexGen graduated and commenced trading on the Toronto Stock Exchange
(&ldquo;TSX&rdquo;) under its existing symbol. The Company&rsquo;s common shares ceased trading on the OTCQX Best Market under
the symbol &ldquo;NXGEF&rdquo; upon the commencement of trading on the NYSE American LLC (&ldquo;NYSE American&rdquo;) under the
symbol &ldquo;NXE&rdquo; on May 17, 2017.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">In February 2016, the Company incorporated
four wholly owned subsidiaries: NXE Energy Royalty Ltd., NXE Energy SW1 Ltd., NXE Energy SW3 Ltd., and IsoEnergy Ltd. (collectively,
the &ldquo;Subsidiaries&rdquo;). The Subsidiaries were incorporated to hold certain exploration assets of the Company. In the three
months ended June 30, 2016, certain exploration and evaluation assets were transferred to each of IsoEnergy Ltd. (&ldquo;IsoEnergy&rdquo;),
NXE Energy SW1 Ltd. and NXE Energy SW3 Ltd. (Note 5). Subsequent to the transfer, IsoEnergy shares were issued to third parties
pursuant to external financings and listed its common shares on the TSX-V, with NexGen retaining 58.9% of IsoEnergy&rsquo;s outstanding
common shares as at June 30, 2018.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.3in"><B>2</B>.</TD><TD STYLE="text-align: justify"><B>NATURE OF OPERATIONS </B></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">As an exploration stage company, the
Company does not have revenues and historically has recurring operating losses. As at June 30, 2018, the Company had an accumulated
deficit of $82,490,124 and working capital of $140,015,895. The Company will be required to obtain additional funding in order
to continue with the exploration and development of its mineral properties and to repay its convertible debentures (Note 8), if
required.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">The business of exploring for minerals
involves a high degree of risk. NexGen is an exploration company and is subject to risks and challenges similar to companies in
a comparable stage. These risks include, but are not limited to, the challenges of securing adequate capital; development and operational
risks inherent in the mining industry; changes in government policies and regulations; the ability to obtain the necessary environmental
permits or, alternatively NexGen's ability to dispose of its exploration and evaluation assets on an advantageous basis; as well
as global economic and uranium price volatility; all of which are uncertain.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">The underlying value of the exploration
and evaluation assets is dependent upon the existence and economic recovery of mineral reserves and is subject to, but not limited
to, the risks and challenges identified above. Changes in future conditions could require material write-downs of the carrying
value of exploration and evaluation assets.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BASIS
OF PRESENTATION</P>

<P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: left">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: left">Statement of Compliance</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: left; text-indent: 410pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify"><FONT STYLE="font-weight: normal">These
condensed consolidated interim financial statements for the six months ended June 30, 2018, including comparatives, have been prepared
in accordance with International Accounting Standard (&ldquo;IAS&rdquo;) 34, Interim Financial Reporting. They do not include all
of the information required by International Financial Reporting Standards (&ldquo;IFRS&rdquo;) for annual financial statements,
and should be read in conjunction with the Company&rsquo;s consolidated financial statements as at and for the year ended December
31, 2017. Accordingly, accounting policies applied other than as discussed in Note 4 are the same as those applied in the Company&rsquo;s
annual financial statements. These condensed consolidated interim financial statements were authorized for issue by the Board of
Directors on August 8, 2018.</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top"><TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR></TABLE>


<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BASIS
OF PRESENTATION (continued)</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: left">Basis of Presentation</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify"><FONT STYLE="font-weight: normal">These
condensed consolidated interim financial statements have been prepared on a historical cost basis, except for certain financial
instruments which have been measured at fair value, including the convertible debentures issued by the Company (Note 8). In addition,
these condensed consolidated interim financial statements have been prepared using the accrual basis of accounting, except for
cash flow information. All monetary references expressed in these notes are references to Canadian dollar amounts (&ldquo;$&rdquo;),
except otherwise noted. These financial statements are presented in Canadian dollars, which is the functional currency of the Company
and its subsidiaries.</FONT></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify">Critical accounting judgments,
estimates and assumptions</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">The preparation of the condensed consolidated
interim financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts
of assets, liabilities and contingent liabilities at the date of the condensed consolidated interim financial statements and the
reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and
are based on management&rsquo;s experience and other factors, including expectations of future events that are believed to be reasonable
in the circumstances. Uncertainty about these judgments, estimates and assumptions could result in a material adjustment to the
carrying amount of the asset or liability affected in future periods.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">Where the fair value of financial
assets and financial liabilities recorded in the financial statements cannot be derived from active markets, their fair value is
determined using valuation models. The inputs to these models are taken from observable markets where possible, but where this
is not feasible, a degree of judgment is required in establishing fair values. The judgments include considerations of inputs such
as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value
of financial instruments.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNIFICANT
ACCOUNTING POLICIES</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The accounting policies followed
by the Company are set out in Note 4 to the audited financial statements for the year ended December 31, 2017, and have been consistently
followed in the preparation of these condensed consolidated interim financial statements except for the following change in accounting
policy:</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify"><B>Change in accounting policy:</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company has adopted all of the
requirements of IFRS 9 Financial Instruments (&ldquo;IFRS 9&rdquo;) as of January 1, 2018. IFRS 9 replaces IAS 39 Financial Instruments:
Recognition and Measurement (&ldquo;IAS 39&rdquo;). IFRS 9 utilizes a revised model for the classification and measurement of financial
instruments and a single, forward-looking &ldquo;expected loss&rdquo; impairment model. Most of the requirements in IAS 39 for
classification and measurement of financial liabilities were carried forward in IFRS 9, with the exception that for financial liabilities
designated at fair value through profit or loss, the change in fair value that is attributable to changes in credit risk of that
liability is presented in other comprehensive income.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The following is the Company&rsquo;s
new accounting policy for financial instruments under IFRS 9.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt"><B>(a)</B></TD><TD STYLE="text-align: justify"><B>Classification</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The Company classifies its financial
assets in the following categories: at fair value through profit and loss (&ldquo;FVTPL&rdquo;), at fair value through other comprehensive
income (&ldquo;FVTOCI&rdquo;) or at amortized cost. The Company determines the classification of financial assets at initial recognition.
The classification of debt instruments is driven by the Company&rsquo;s business model for managing the financial assets and their
contractual cash flow characteristics. Equity instruments that are held for trading (including all equity derivative instruments)
are classified as at FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election
(on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless
they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or the Company has opted to measure
them at FVTPL (such as the Convertible Debentures financial liabilities).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The Company completed a detailed
assessment of its financial assets and liabilities as at January 1, 2018. The following table shows the original classification
under IAS 39 and the new classification under IFRS 9:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNIFICANT
ACCOUNTING POLICIES (continued)</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 95%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; border: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><B><I>Financial assets/liabilities </I></B></FONT></TD>
    <TD STYLE="width: 30%; border-top: #BFBFBF 1pt solid; border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><B><I>Original classification IAS 39</I></B></FONT></TD>
    <TD STYLE="width: 28%; border-top: #BFBFBF 1pt solid; border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><B><I>New Classification IFRS 9 </I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; border-left: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><B><I>Cash and cash equivalents</I></B></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>Amortized cost</I></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>Amortized cost</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-left: #BFBFBF 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><B><I>Amounts receivable</I></B></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>Amortized cost</I></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>Amortized cost</I></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; border-left: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><B><I>Accounts payable and accrued liabilities</I></B></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>Amortized cost</I></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>Amortized cost</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; border-left: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><B><I>Convertible debentures</I></B></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>FVTPL</I></FONT></TD>
    <TD STYLE="border-right: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 5.4pt; padding-left: 14.2pt; text-align: justify"><FONT STYLE="font-size: 9pt"><I>FVTPL </I></FONT></TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">As the Company has taken an exemption
not to restate prior periods with respect to classification and measurement, it has recognized the cumulative effects of retrospective
application to shareholders&rsquo; equity at the beginning of the 2018 annual reporting period that includes the date of initial
application. Therefore, the adoption of IFRS 9 resulted in a decrease to opening accumulated deficit on January 1, 2018 of $503,146
with a corresponding adjustment to accumulated other comprehensive (loss) income, arising on the accumulated fair value gain (loss)
due to the change in the Company&rsquo;s own credit risk as at January 1, 2018.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt"><B>(b)</B></TD><TD STYLE="text-align: justify"><B>Measurement</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify"><B>Financial assets at FVTOCI</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">Elected investments in equity instruments
at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value, with gains
and losses arising from changes in fair value recognized in other comprehensive (loss) income.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify"><B>Financial assets and liabilities
at amortized cost</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">Financial assets and liabilities
at amortized cost are initially recognized at fair value, and subsequently carried at amortized cost less any impairment.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify"><B>Financial assets and liabilities
at FVTPL</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">Financial assets and liabilities
carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of net
(loss) income. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities
held at FVTPL are included in the consolidated statements of net (loss) income in the period in which they arise. Where management
has opted to recognize a financial liability at FVTPL, any changes associated with the Company&rsquo;s own credit risk will be
recognized in other comprehensive (loss) income. The Company&rsquo;s Convertible Debentures financial liabilities have been recognized
at FVTPL.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt"><B>(c)</B></TD><TD STYLE="text-align: justify"><B>Impairment of financial assets at amortized cost</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">Under IFRS 9, the Company recognizes
a loss allowance using the expected credit loss model on financial assets that are measured at amortized cost.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">The adoption of the expected credit
loss impairment model under IFRS 9 had no impact on the carrying amounts of our financial assets on the transition date given the
Company transacts exclusively with large international financial institutions and amounts receivable are comprised of value-added
tax receivable from the government of Canada.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">At each reporting date, the Company
measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk
on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has
not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount
equal to twelve month expected credit losses.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">Impairment losses on financial assets
carried at amortized cost are reversed in subsequent periods if the amount of the loss decreases and the decrease can be objectively
related to an event occurring after the impairment was recognized.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt"><B>(d)</B></TD><TD STYLE="text-align: justify"><B>Derecognition</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify"><B>Financial assets</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">The Company derecognizes financial
assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets
and substantially all the associated risks and rewards of ownership to another entity. Gains and losses on derecognition are generally
recognized in the consolidated statements of net (loss) income. However, gains and losses on derecognition of financial assets
classified as FVTOCI remain within the accumulated other comprehensive (loss) income.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNIFICANT
ACCOUNTING POLICIES (continued)</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 34pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><B>Financial liabilities</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The Company derecognizes financial
liabilities only when its obligations under the financial liabilities are discharged, cancelled or expired. The difference between
the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets
transferred or liabilities assumed, is recognized in the consolidated statements of net (loss) income.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"><B>Future accounting pronouncements:</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-indent: 0.55pt">On January 13, 2016 the IASB issued
IFRS 16 Leases. The new standard is effective for annual periods beginning on or after January 1, 2019. IFRS 16 will replace IAS
17 Leases. This standard introduces a single lessee accounting model and requires a lessee to recognize assets and liabilities
for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee is required to recognize
a right-of-use asset representing its right to use the underlying asset and a lease liability representing its obligation to make
lease payments.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-indent: 0.55pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt">The Company intends to adopt IFRS 16 in its financial
statements for the annual period beginning on January 1, 2019. The extent of the impact of adoption of the standard has not yet
been determined.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 63.8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXPLORATION
AND EVALUATION ASSETS</B></P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 12.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>(a)</B></TD><TD STYLE="text-align: justify"><B>Rook I Property</B></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 12.95pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 35.45pt; text-align: justify">The Rook I Project is located in
Northern Saskatchewan, approximately 40 kilometres (km) east of the Saskatchewan - Alberta border, approximately 150 km north of
the town of La Loche and 640 km northwest of the City of Saskatoon and consists of 32 contiguous mineral claims totalling 35,065
hectares.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 35.45pt; text-align: justify">The Rook I Project hosts the Arrow
deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South
discovery in July 2017. The Company released an updated mineral resource estimate in March 2017 and the results of a preliminary
economic assessment in July 2017, in each case, in respect of the Arrow deposit.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">NexGen has a 100% interest in the
claims subject only to: (i) a 2% net smelter return royalty (&ldquo;NSR&rdquo;); and (ii) a 10% production carried interest, in
each case, only on claims S-113928 to S-113933 (the Arrow deposit is not located on any of these claims). The NSR may be reduced
to 1% upon payment of $1 million. The 10% production carried interest provides for the owner to be carried to the date of commercial
production.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>(b)</B></TD><TD STYLE="text-align: justify"><B>Other Athabasca Basin Properties</B></TD></TR></TABLE>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The Other Athabasca Basin Properties
are a portfolio of early stage mineral properties in the Athabasca Basin. The properties are grouped geographically as &ldquo;SW1&rdquo;,
&ldquo;SW2&rdquo; and &ldquo;SW3&rdquo;. The SW2 properties are held directly by NexGen. The SW1 and SW3 properties are held by
NXE Energy SW1 Ltd. and NXE Energy SW3 Ltd., respectively, each a wholly owned subsidiary.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">During the year ended December 31,
2017, the Company recognized an impairment of $87,749, associated with certain Castle South, Castle North, Castle South Extension
and Virgin Trend properties in the statement of loss and comprehensive loss. The Company decided not to continue exploring some
of these claims and allowed them to lapse.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>(c)</B></TD><TD STYLE="text-align: justify"><B>IsoEnergy Properties</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The IsoEnergy Properties consist
of&nbsp;(i) a 100% interest in the Radio Project, Saskatchewan (subject to a 2% net smelter return royalty and 2% gross overriding
royalty); (ii) a 100% interest in the Thorburn Lake Project, Saskatchewan &nbsp;(subject to a 1% net smelter return royalty and
a 10% carried interest which can be reduced to 1% at the holder&rsquo;s option upon completion of a bankable feasibility study);
(iii) a 100% interest, in each of the Madison, 2Z, Carlson Creek and North Thorburn properties, Saskatchewan; (iv) a 100% interest
in the Mountain Lake property, Nunavut;&nbsp;(v) a 100% interest in the Geiger property, Saskatchewan; and (vi) a portfolio of
newly staked claims in Saskatchewan, all of which are&nbsp;early stage exploration properties.&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXPLORATION
AND EVALUATION ASSETS (continued)</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>(c)</B></TD><TD STYLE="text-align: justify"><B>IsoEnergy Properties (continued)</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">During the 6 months ended June 30,
2018, IsoEnergy expanded the Geiger property with the acquisition of 33 claims comprised of 6,800 hectares in Dawn Lake North Block
which is contiguous with IsoEnergy&rsquo;s Geiger property and will be treated as an expansion of the Geiger property and the combined
set of claims will be referred to as Geiger henceforth. IsoEnergy acquired the claims in exchange for 3,330,000 common shares of
IsoEnergy, then valued at $1,282,050 and a cash payment of $200,000. IsoEnergy acquired a 100% interest in 6 mineral claims constituting
the 3,200 hectare Larocque East property&nbsp;in the Eastern Athabasca Basin of Saskatchewan, in exchange for $20,000 in cash and
1,000,000 common shares valued as $350,000. IsoEnergy also acquired, through staking, four new 100% owned uranium exploration properties
called Whitewater, Fox, East Rim and Full Moon in the Eastern Athabasca Basin of Saskatchewan. IsoEnergy has also staked additional
claims that have been consolidated into the Geiger property.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: 5.85pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The following is a summary of the
capitalized costs on the projects described above.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Rook 1</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Other Athabasca Basin Properties</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">IsoEnergy Properties</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Total</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 2pt solid">$</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 2pt solid">$</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 2pt solid">$</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 2pt solid">$</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Acquisition costs:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 40%">Balance, December 31, 2017</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">235,077</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,457,607</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">24,737,248</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">26,429,932</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Additions</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,885,297</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,885,297</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Balance, June 30, 2018</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">235,077</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,457,607</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26,622,545</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28,315,229</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Deferred exploration costs:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Balance, December 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">112,937,959</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,942,297</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,102,367</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,982,623</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;Additions:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drilling</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,094,835</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">710,996</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,805,831</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General exploration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,406,786</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(23,200</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">122,551</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,506,137</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Geological and geophysical</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,490,427</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">530,617</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,893</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,092,937</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Labour and wages</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,428,906</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">266,271</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,695,177</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based payments (Note 9)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,668,835</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95,924</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,764,759</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">269,486</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">44,017</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">313,503</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,359,275</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">507,417</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,311,652</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20,178,344</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Balance, June 30, 2018</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">131,297,234</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,449,714</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,414,019</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">146,160,967</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">Total costs, June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">131,532,311</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">6,907,321</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">36,036,564</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">174,476,19</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: 13.5pt"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: center; text-indent: -15.4pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -15.4pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -15.4pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -15.4pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -15.4pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: -15.4pt">&nbsp;</P>


<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXPLORATION
AND EVALUATION ASSETS (continued)</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Rook 1</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Other Athabasca Basin Properties</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">IsoEnergy Properties</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Total</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">$</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">Acquisition costs:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 40%">Balance, December 31, 2016</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">230,807</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,124,277</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">21,438,306</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">22,793,390</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Additions</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,270</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">333,330</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,298,942</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,636,542</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Balance, December 31, 2017</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">235,077</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,457,607</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">24,737,248</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26,429,932</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">Deferred exploration costs:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Balance, December 31, 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77,007,303</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,318,909</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,327,318</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86,653,530</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;Additions:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Drilling</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,592,799</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,297</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,168,096</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,764,192</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General exploration</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,163,554</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,885</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">110,603</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,300,042</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Geological and geophysical</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,206,266</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">681,955</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">521,632</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,409,853</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Labour and wages</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,391,456</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">510,398</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,901,854</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based payments (Note 9)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,952,316</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">357,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,309,791</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">624,265</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">106,845</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">731,110</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35,930,656</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">711,137</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,775,049</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">39,416,842</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Impairment</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(87,749</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(87,749</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Balance, December 31, 2017</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">112,937,959</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,942,297</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,102,367</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">125,982,623</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">Total costs, December 31, 2017</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">113,173,036</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">6,399,904</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">32,839,615</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">152,412,555</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">





<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-indent: 0pt"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMITMENTS
</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify"><U>Flow-through expenditures:</U></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">IsoEnergy has raised funds through
the issuance of flow-through shares. Based on Canadian tax law, IsoEnergy is required to spend this amount on eligible exploration
expenditures by December 31 of the year after the year in which the shares were issued.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">IsoEnergy raised $924,500 through
the issuance of 1,675,000 flow-through shares during the six-month period ended June 30, 2018 and is required to spend such amounts
on eligible exploration expenditures.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">The premium paid for a flow-through
share, which is the price paid for the share over the market price of the share, is recorded as a flow-through share premium liability.
This liability is subsequently reduced when the required exploration expenditures are made, and accordingly, a recovery of flow-through
premium is then recorded as a reduction in the deferred tax expense.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">As of June 30, 2018, IsoEnergy must
fulfill approximately $700,000 of the required eligible exploration expenditures before December 31, 2019. As the commitment is
satisfied, the remaining balance of the flow-through premium liability will be recognized as income.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">A continuity of the flow-through share
premium liability is as follows:</P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">Six months ended</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">June, 2018</P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">Year ended</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">December 31, 2017</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: justify">Balance, beginning of the period</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center; vertical-align: middle">$</TD><TD STYLE="width: 12%; text-align: center; vertical-align: middle">109,251</TD><TD STYLE="width: 1%; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center; vertical-align: middle">$</TD><TD STYLE="width: 12%; text-align: center; vertical-align: middle">179,212</TD><TD STYLE="width: 1%; text-align: center; vertical-align: middle">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Liability incurred on flow-through shares issued</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: middle">234,500</TD><TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: middle">130,000</TD><TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; border-bottom: Black 1pt solid">Settlement of flow-through share liability on expenditure made</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">(162,375)</TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid"></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">(199,961)</TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: middle">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; border-bottom: Black 1pt solid">Balance, end of the period</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">181,376</TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: middle">109,251</TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 21.25pt">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMITMENTS
(continued)</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 21.25pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 21.25pt"><U>Office leases:</U></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 21.3pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company and its subsidiary, IsoEnergy,
have total office lease commitments at their Vancouver and Saskatoon offices as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 40%">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 50%; text-align: right">2018</TD>
    <TD STYLE="width: 18%; text-align: right; vertical-align: top">$</TD><TD STYLE="width: 31%; text-align: right">348,730</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2019</TD>
    <TD STYLE="text-align: right; vertical-align: top">$</TD><TD STYLE="text-align: right">1,034,745</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2020</TD>
    <TD STYLE="text-align: right; vertical-align: top">$</TD><TD STYLE="text-align: right">957,123</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2021</TD>
    <TD STYLE="text-align: right; vertical-align: top">$</TD><TD STYLE="text-align: right">761,678</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2022</TD>
    <TD STYLE="text-align: right; vertical-align: top">$</TD><TD STYLE="text-align: right">773,740</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2023</TD>
    <TD STYLE="text-align: right; vertical-align: top">$</TD><TD STYLE="text-align: right">698,121</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2024</TD>
    <TD STYLE="text-align: right; vertical-align: top">$</TD><TD STYLE="text-align: right">659,397</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2025</TD>
    <TD STYLE="text-align: right; vertical-align: top">$</TD><TD STYLE="text-align: right">494,548</TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 21.3pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">In connection with the Vancouver and
Saskatoon office leases, the Company paid deposits of $17,400 and $68,037, respectively, with the landlords which will be applied
to the final month&rsquo;s and final two months&rsquo; rents, respectively, when the office lease terms expire. IsoEnergy paid
a deposit of $9,274 with its landlord which will be applied to the final month&rsquo;s rent when the office lease term expires.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQUIPMENT</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Computing Equipment</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Software</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Field <BR> Equipment</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Leasehold Improvements</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Road</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%">Balance at December 31, 2016</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">109,648</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">279,970</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">2,756,640</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">215,172</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">1,282,890</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">4,644,320</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;Additions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,938</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,763</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,490,880</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">490,695</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,206,276</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Disposals</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(29,300</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(29,300</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Balance at December 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">235,586</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">378,733</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,218,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">215,172</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,773,585</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,821,296</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;&nbsp;&nbsp;Additions</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,743</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">253,992</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,994,713</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,307,448</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Disposals</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(54,075</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(54,075</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 2pt solid">Balance at June 30, 2018</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: right">294,329</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: right">632,725</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: right">6,158,858</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: right">215,172</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: right">1,773,585</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: right">9,074,669</TD><TD STYLE="border-bottom: Black 2pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Accumulated Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Balance at December 31, 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">67,179</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">121,577</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">643,457</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">47,844</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">163,085</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,043,142</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60,744</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">114,367</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">482,738</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,686</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,940</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">799,475</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Disposals</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,395</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,395</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Balance at December 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">127,923</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">235,944</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,121,800</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90,530</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">262,025</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,838,222</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;&nbsp;&nbsp;Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,685</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,967</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">409,173</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,691</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,584</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">631,100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Disposals</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(43,260</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(43,260</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">Balance at June 30, 2018</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">165,608</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">309,911</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,487,713</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">102,221</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">360,609</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,426,062</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Net book value:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>At December 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">107,663</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">142,789</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,096,420</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">124,642</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,511,560</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,983,074</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">At June 30, 2018</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">128,721</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">322,814</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">4,671,145</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">112,951</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">1,412,976</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: right">6,648,607</TD><TD STYLE="border-bottom: Black 2pt solid; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE></P>

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONVERTIBLE
DEBENTURES</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: justify">2016 Debentures (a)</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">80,572,444</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">90,742,373</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; border-bottom: Black 1pt solid">2017 Debentures (b)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">70,094,039</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">80,627,593</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt; border-bottom: Black 1pt solid">Convertible Debentures</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">150,666,483</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">171,369,966</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.6pt"></TD><TD STYLE="width: 6.75pt"><B>(a)</B></TD><TD STYLE="text-align: justify"><B>&nbsp;&nbsp;2016 Debentures</B></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.55in; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">On June 10, 2016, the Company issued
US$60 million principal amount of convertible debentures (the &ldquo;2016 Debentures&rdquo;) which were determined to be a hybrid
financial instrument comprised of the host debt contract and multiple embedded derivatives. The Company received gross proceeds
of $76,416,000 (US$60 million) and net proceeds of $72,363,602 (US$56,852,383) after deducting $4,052,398 (US$3,147,617) in transaction
costs from the issue of the 2016 Debentures. A 3% establishment fee of $2,292,480 (US$1.8 million) was also paid to the debenture
holders through the issuance of 1,005,586 common shares. The fair value of the 2016 Debentures on issuance date was determined
to be $74,123,520 (US$58.2 million).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">Pursuant to an amended and restated
trust indenture dated July 21, 2017, the maturity date of the 2016 Debentures was extended to July 22, 2022.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The fair value of the 2016 Debentures
decreased from $90,742,373 (US$72,333,498) on December 31, 2017 to $80,572,444 (US$61,188,065) at June 30, 2018, resulting in a
gain of $10,169,929 (US$11,145,433) for the six-month period ended June 30, 2018. This gain, combined with the gain on the 2017
Debentures (see Note 8(b)) for the period ended June 30, 2018 was recorded in loss (profit) for the period.</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: justify; text-indent: -1.35pt; padding-left: 1.35pt">Fair value of 2016 Debentures, beginning of period</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">90,742,373</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">70,811,801</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -1.35pt; padding-left: 1.35pt">Fair value adjustment during the period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,169,929</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,930,572</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -1.35pt; padding-left: 1.35pt; border-bottom: Black 1pt solid">Interest payable</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">345,660</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">350,900</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -1.35pt; padding-left: 1.35pt">2016 Debentures and interest payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">80,918,104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">91,093,273</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -1.35pt; padding-left: 1.35pt; border-bottom: Black 1pt solid">Less: interest payable included in accounts payable &amp; accrued liabilities</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(345,660</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(350,900</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt; text-indent: -1.35pt; padding-left: 1.35pt; border-bottom: Black 1pt solid">2016 Debentures, end of period</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">80,572,444</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">90,742,373</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The 2016 Debentures were valued using
a convertible bond pricing model based on a system of two coupled Black-Scholes equations where the debt and equity components
are separately valued based on different default risks and assumptions.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The inputs used in the 2016 Debentures
pricing model as at June 30, 2018 and December 31, 2017 are as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">December 31, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: justify">Volatility</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">37.82</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">39.00</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Expected life in years</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">4.06 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">4.56 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Risk free interest rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.68</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.23</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Expected dividend yield</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Credit spread</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.35</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.35</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Underlying share price of the Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">$2.43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">$3.21</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Conversion exercise price</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">US$2.3261</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">US$2.3261</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; border-bottom: Black 1pt solid">Exchange rate (C$:US$)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$0.7594</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$0.7971</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.6pt"></TD><TD STYLE="width: 6.75pt"><B>(b)</B></TD><TD STYLE="text-align: justify"><B>&nbsp;&nbsp;2017 Debentures</B></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">On July 21, 2017, the Company issued
US$60 million principal amount of convertible debentures (the &ldquo;2017 Debentures&rdquo;) which were also determined to be a
hybrid financial instrument comprised of the host debt contract and multiple embedded derivatives. The Company received gross proceeds
of $75,294,000 (US$60 million) and net proceeds of $72,482,854 (US$57,759,864) after deducting $2,811,146 (US$2,240,136) in transaction
costs from the issue of the 2017 Debentures. A 3% establishment fee of $2,258,820 (US$1.8 million) was also paid to the debenture
holders through the issuance of 869,271 common shares. The fair value of the 2017 Debentures on issuance date was determined to
be $73,035,180 (US$58,200,000).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">The fair value of the 2017 Debentures
decreased from $80,627,593 (US$64,270,700) on December 31, 2017 to $70,094,039 (US$53,230,588) at June 30, 2018, resulting in a
gain of $10,533,554 (US$11,040,112) for the six-month period ended June 30, 2018. This gain, combined with the gain on the 2016
Debentures (see Note 8(a)) for the period ended June 30, 2018 was recorded in loss (profit) for the period.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify"></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONVERTIBLE
DEBENTURES (continued)</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: justify; padding-left: 1.35pt">Fair value of 2017 Debentures, beginning of period</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">80,627,593</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">73,035,180</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 1.35pt">Fair value adjustment during the period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,533,554</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,592,413</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 1.35pt; border-bottom: Black 1pt solid">Interest payable</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">345,660</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">350,900</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 1.35pt">2017 Debentures and interest payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70,439,699</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">80,978,493</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 1.35pt; border-bottom: Black 1pt solid">Less: interest payable included in accounts payable &amp; accrued liabilities</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(345,660</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(350,900</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt; padding-left: 1.35pt; border-bottom: Black 1pt solid">2017 Debentures, end of period</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">70,094,039</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">80,627,593</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The 2017 Debentures were valued using
a convertible bond pricing model based on a system of two coupled Black-Scholes equations where the debt and equity components
are separately valued based on different default risks and assumptions.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The inputs used in the 2017 Debentures
pricing model as at June 30, 2018 and December 31, 2017 are as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.3in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">December 31, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: justify">Volatility</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">37.82</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">39.00</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Expected life in years</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">4.06 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">4.56 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Risk free interest rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.68</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.23</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Expected dividend yield</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Credit spread</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.35</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.35</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Underlying share price of the Company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">$2.43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">$3.21</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Conversion exercise price</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">US$2.6919</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">US$2.6919</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; border-bottom: Black 1pt solid">Exchange rate (C$:US$)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$0.7594</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$0.7971</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify"><B>General Terms</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">At inception, for each of the 2016
Debentures and 2017 Debentures (collectively, the &ldquo;Convertible Debentures&rdquo;), the Company made an irrevocable election
under IAS 39 to designate the Convertible Debentures as a financial liability at fair value through profit or loss. At their respective
initial recognition date, the entire convertible instrument was measured at fair value with associated transaction costs expensed
as incurred. Subsequent to initial recognition, the convertible financial instrument is marked to market at each financial reporting
date and any change in fair value is recognized in profit or loss with the exception that under IFRS 9 (Note 4), the change in
fair value that is attributable to change in credit risk is presented in other comprehensive income.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Convertible Debentures bear interest
at a rate of 7.5% per annum, payable semi-annually in US dollars on June 10 and December 10 in each year, with the first interest
payment on the 2017 Debentures due on December 10, 2017. Two thirds of the interest (equal to 5% per annum) is payable in cash
and one third of the interest (equal to 2.5% per annum) is payable, subject to any required regulatory approval, in common shares
of the Company, using the volume-weighted average trading price (&ldquo;VWAP&rdquo;) of the common shares on the exchange or market
that has the greatest trading volume in the Company&rsquo;s common shares for the 20 consecutive trading days ending three trading
days preceding the date on which such interest payment is due. For this purpose, the VWAP shall be converted into US dollars on
each of the 20 days in the period, using the indicative rate of exchange for such currency as reported by the Bank of Canada.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The 2016 Debentures and 2017 Debentures
are convertible, from time to time, into common shares of the Company at the option of the debenture holders at any time prior
to maturity at a price per common share of US$2.3261 and US$2.6919, respectively (the &ldquo;Conversion Price&rdquo;).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The 2016 Debentures and 2017 Debentures
are not redeemable by the Company prior to June 10, 2019 and July 21, 2020, respectively. On or after June 10, 2019 and July 21,
2020 and prior to July 22, 2022, the 2016 Debentures and 2017 Debentures, respectively, may be redeemed by the Company, in whole
or in part, at any time that the 20-day VWAP of the common shares exceeds 130% of the Conversion Price, on not less than 30 days&rsquo;
prior notice to the debenture holders. For this purpose, the VWAP shall be converted into US dollars on each of the 20 days in
the period, using the indicative rate of exchange for such currency as reported by the Bank of Canada.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONVERTIBLE
DEBENTURES (continued)</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">Upon completion of a change of control
(which includes in the case of the holders&rsquo; right to redeem the Convertible Debentures, a change in the Chief Executive Officer
of the Company), the holders of the Convertible Debentures or the Company may require the Company to purchase or the holders to
redeem, as the case may be, any outstanding Convertible Debentures in cash at: (i) on or prior to June 10, 2019 and July 21, 2020
for the 2016 Debentures and 2017 Debentures, respectively, 130% of the principal amount; and (ii) at any time thereafter, 115%
of the principal amount, in each case plus accrued but unpaid interest, if any. In addition, upon the public announcement of a
change of control that is supported by the Board, the Company may require the holders of the Convertible Debentures to convert
the Convertible Debentures into common shares at the Conversion Price provided the consideration payable upon the change of control
exceeds the Conversion Price and is payable in cash.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">A &ldquo;change of control<B>&rdquo;</B>
of the Company is defined as consisting of: (a) the acquisition by a person or group of persons acting jointly or in concert of
voting control or direction over 50% or more of the Company&rsquo;s outstanding common shares; (b) the amalgamation, consolidation
or merger of the Company with or into another entity as a result of which the holders of the common shares immediately prior to
such transaction, directly or indirectly, hold less than 50% of voting control or direction over the entity carrying on the business
of the Company following such transaction; (c) the sale, assignment, transfer or other disposition of all or substantially all
of the property or assets of the Company to another entity in which the holders of the common shares immediately prior to such
transaction, directly or indirectly, hold less than 50% of voting control or direction over the other entity following such transaction;
or (d) the removal by resolution of the shareholders of the Company, of more than 51% of the then incumbent directors of the Company
which removal has not been recommended in the Company&rsquo;s management information circular, or the failure to elect to the Company&rsquo;s
board of directors a majority of the directors proposed for election by management in the Company&rsquo;s management information
circular.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SHARE
CAPITAL AND RESERVES</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/97% Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.7pt; text-align: justify"><B>Authorized Capital - </B>Unlimited
number of common shares with no par value and unlimited number of preferred shares.</P>

<P STYLE="font: 9pt/97% Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/97% Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.7pt; text-align: justify"><B><U>Issued</U></B></P>

<P STYLE="font: 9pt/97% Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/96% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 22.5pt"><B>For the period ended
June 30, 2017:</B></P>

<P STYLE="font: 9pt/96% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt/normal Arial, Helvetica, Sans-Serif; letter-spacing: normal; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33.7pt"></TD><TD STYLE="width: 20.2pt">(a)</TD><TD STYLE="text-align: justify">During the six months ended June 30, 2017, the Company issued a total of 1,008,333 common shares
on the exercise of 100,000 options at a price of $0.40, 50,000 options at a price of $0.425, 200,000 options at a price of $0.46,
8,333 options at a price of $2.65, 300,000 options at a price of $0.50, 83,333 options at a price of $0.62, 250,000 options at
a price of $0.64 and 16,667 options at a price of $2.24 for total proceeds of $574,333. As a result of the exercises, $478,512
was reclassified from reserves to share capital.</TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/97% Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.7pt; text-align: justify"><B>For the period ended June 30,
2018: </B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33.7pt"></TD><TD STYLE="width: 20.2pt">(a)</TD><TD STYLE="text-align: justify">During the six months ended June 30, 2018, the Company issued a total of 5,433,334 common shares
on the exercise of 333,334 options at a price of $1.51, 150,000 options at a price of $0.64, 4,450,000 options at a price of $0.40,
200,000 options at a price of $0.46, 100,000 options at a price of $0.50 and 200,000 options at a price of $0.62 for total proceeds
of $2,645,334. As a result of the exercises, $1,708,615 was reclassified from reserves to share capital.</TD></TR></TABLE>

<P STYLE="font: 9pt/96% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 33.7pt"></TD><TD STYLE="width: 20.2pt">(b)</TD><TD STYLE="text-align: justify">On June 11, 2018 the Company issued 745,378 common shares at the then fair value of $2,154,142
to the convertible debenture holders for the share portion of the debenture interest payment.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt"><B>Stock Options</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">Pursuant to the Company&rsquo;s stock
option plan, directors may, from time to time, authorize the issuance of options to directors, officers, employees and consultants
of the Company, enabling them to acquire up to 20% of the issued and outstanding common shares of the Company.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">The options can be granted for a maximum
term of 10 years and are subject to vesting provisions as determined by the Board of Directors of the Company.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SHARE
CAPITAL AND RESERVES (continued)</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">Stock option transactions and the
number of stock options are summarized as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of Stock Options</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted Average Exercise Price</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; font-weight: bold; text-align: justify; padding-left: 5.4pt">Outstanding at December 31, 2016</TD><TD STYLE="width: 8%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">33,466,112</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">1.06</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 5.4pt">Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,200,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.27</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 5.4pt">Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,424,445</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Forfeited</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(383,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2.53</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-left: 5.4pt">Outstanding at December 31, 2017</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">37,858,334</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">1.42</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 5.4pt">Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.80</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 5.4pt">Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,433,334</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.49</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Forfeited</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(66,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3.32</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Outstanding at June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">37,458,333</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1.74</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">Number of options exercisable</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29,525,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.41</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt">As at June 30, 2018, the Company has stock options outstanding
and exercisable as follows:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 90%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font-size: 9pt; text-align: right; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 8.8pt; text-align: right"><B>Number of </B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 8.8pt; text-align: right"><B>Options</B></P></TD><TD STYLE="font-size: 9pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; text-align: right; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0.05in 0 0; text-align: right"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0.05in 0 0; text-align: right"><B>Number Exercisable</B></P></TD><TD STYLE="font-size: 9pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; text-align: right; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0.05in 0 0; text-align: right"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0.05in 0 0; text-align: right"><B>Exercise </B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0.05in 0 0; text-align: right"><B>Price</B></P></TD><TD STYLE="font-size: 9pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; text-align: right; border-bottom: Black 1pt solid; vertical-align: bottom"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Remaining</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Contractual</B></P> <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Life (Years)</B></P></TD><TD STYLE="font-size: 9pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="font-size: 9pt; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Expiry Date</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">100,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">100,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3.30</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">0.06</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-left: 5.4pt">July 22, 2018</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.06</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">July 22, 2018</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,350,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,350,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.08</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">July 30, 2018</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.30</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.47</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">December 19, 2018</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">February 28, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.46</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">February 28, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">February 28, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.64</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">February 28, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.65</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">February 28, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.24</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">February 28, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">February 28, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.46</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 15, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,200,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,200,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 15, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.62</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 15, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.64</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 15, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">800,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">800,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.65</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 15, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.24</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 15, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 15, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,450,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.90</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">May 23, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.46</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.48</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">December 24, 2019</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,850,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,850,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.91</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">May 27, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.64</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.47</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">December 16, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.69</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.94</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">June 8, 2021</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,425,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,425,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.65</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.98</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">June 23, 2021</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,800,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,866,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.24</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.46</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">December 15, 2021</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">166,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.11</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.81</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 22, 2022</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,475,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">491,666</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.93</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.38</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">November 13, 2022</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,800,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,266,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.46</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">December 14, 2022</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">158,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">April 13, 2023</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,525,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,508,334</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.85</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.94</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">June 8, 2023</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.66</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.98</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 5.4pt">June 20, 2023</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">37,458,333</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">29,525,000</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SHARE
CAPITAL AND RESERVES (continued)</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company uses the Black-Scholes
option pricing model to calculate the fair value of stock options granted. The model requires management to make estimates, which
are subjective and may not be representative of actual results. Changes in assumptions can materially affect estimates of fair
values. The following weighted average assumptions were used to estimate the weighted average grant date fair values for the six-month
periods ended June 30, 2018 and June 30, 2017:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 4pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; border-bottom: Black 1pt solid">June 30, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left; text-indent: -21.3pt; padding-left: 22.7pt">Expected stock price volatility</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">84.47</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">84.52</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -21.3pt; padding-left: 22.7pt">Expected life of options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">5.00 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">5.00 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -21.3pt; padding-left: 22.7pt">Risk free interest rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.15</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -21.3pt; padding-left: 22.7pt">Expected forfeitures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -21.3pt; padding-left: 22.7pt">Expected dividend yield</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 1.85pt; border-bottom: Black 1pt solid">Weighted average fair value per option granted in period</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$1.89</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$2.04</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">Share-based payments for options vested
for the six months ended June 30, 2018 amounted to $8,905,769 (2017 - $5,055,181) of which $7,141,010 (2017 - $3,740,796) was expensed
to the statement of loss (profit) and comprehensive loss (profit) and $1,764,759 (2017 - $1,314,385) was capitalized to exploration
and evaluation assets (Note 5).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">10.&nbsp;&nbsp;&nbsp;&nbsp;RELATED
PARTY TRANSACTIONS</P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">Key management personnel include those
persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The
Company has determined that key management personnel consists of executive and non-executive members of the Company&rsquo;s Board
of Directors, corporate officers and related companies.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">Remuneration attributed to key management
personnel can be summarized as follows:</P>

<P STYLE="font: 6pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify; text-indent: -7.05pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="border-collapse: collapse; width: 95%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center">For the six months ended</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">June 30, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: justify; text-indent: -28.35pt; padding-left: 28.35pt"><FONT STYLE="font-size: 9pt">Short-term compensation<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,173,314</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,555,455</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -28.35pt; padding-left: 28.35pt"><FONT STYLE="font-size: 9pt">Share-based payments (stock options)<SUP>(2)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,674,929</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,582,788</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt; text-indent: -7.05pt; padding-left: 28.35pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,848,243</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,138,243</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify; text-indent: -7.05pt"><SUP>&nbsp;</SUP></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify; text-indent: -7.05pt"><SUP>(1) </SUP>Short-term
compensation to key management personnel for the six months ended June 30, 2018 amounted to $1,173,314 (2017 - $1,555,455) of which
$960,625 (2017 - $1,143,855) was expensed and included in salaries, benefits and directors&rsquo; fees on the statement of loss
and comprehensive loss. The remaining $212,689 (2017 - $411,600) was capitalized to exploration and evaluation assets.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify; text-indent: -7.05pt">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify; text-indent: -7.05pt"><SUP>(2) </SUP>Share-based
payments to key management personnel for the six months ended June 30, 2018 amounted to $6,674,929 (2017 - $3,582,788) of which
$6,306,141 (2017 - $3,140,387) was expensed and $368,788 (2017 - $442,401) was capitalized to exploration and evaluation assets.</P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify">As at June 30, 2018, there was $nil
(December 31, 2017 - $542,361) included in accounts payable and accrued liabilities owing to its directors and officers for compensation.</P>

<P STYLE="font: 5pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">11.&nbsp;&nbsp;&nbsp;&nbsp;CAPITAL
MANAGEMENT</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company manages its capital structure
and makes adjustments to it, based on the funds available to the Company, in order to support the acquisition, exploration and
evaluation of assets. The Board of Directors does not establish quantitative return on capital criteria for management, but rather
relies on the expertise of the Company&rsquo;s management to sustain the future development of the business.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">In the management of capital, the
Company considers all components of equity and debt and is dependent on third party financing, whether through debt, equity, or
other means. Although the Company has been successful in raising funds to date, there is no assurance that the Company will be
successful in obtaining required financing in the future or that such financing will be available on terms acceptable to the Company.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The properties in which the Company
currently has an interest are in the exploration stage. As such the Company has historically relied on the equity markets and convertible
debt to fund its activities. The Company will continue to assess new properties and seek to acquire an interest in additional properties
if it determines that there is sufficient geologic or economic potential and if it has adequate financial resources to do so.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3pt"></TD><TD STYLE="width: 19.5pt"><B>11.</B></TD><TD STYLE="text-align: justify"><B>CAPITAL MANAGEMENT (continued)</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">Management reviews its capital management
approach on an on-going basis and believes that this approach, given the relative size of the Company, is reasonable.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company is not subject to externally
imposed capital requirements. There were no changes in the Company&rsquo;s approach to capital management during the period.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3pt"></TD><TD STYLE="width: 19.5pt"><B>12.</B></TD><TD STYLE="text-align: justify"><B>FINANCIAL INSTRUMENTS</B></TD></TR></TABLE>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company&rsquo;s financial instruments
consist of cash and cash equivalents, amounts receivable, accounts payable and accrued liabilities and the Convertible Debentures.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The fair values of the Company&rsquo;s
cash and cash equivalents, amounts receivable and accounts payable and accrued liabilities approximate their carrying value, due
to their short-term maturities or liquidity.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt"><B>Fair Value Measurement</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company classifies the fair value
of financial instruments according to the following hierarchy based on the amount of observable inputs used to value the instrument:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify">Level 1 - quoted prices in active markets for identical assets or liabilities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify">Level 2 - inputs other than quoted prices included in Level 1 that are observable for the asset
or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify">Level 3 - inputs for the asset or liability that are not based on observable market data.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Convertible Debentures are re-measured
at fair value at each reporting date with any change in fair value recognized in profit or loss with the exception that under IFRS
9 (Note 4), the change in fair value that is attributable to change in credit risk is presented in other comprehensive income (Note
8). The Convertible Debentures are classified as Level 2.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">As at June 30, 2018, the Company&rsquo;s
risk exposures and the impact on the Company&rsquo;s financial instruments are summarized below:</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -1.2pt">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 22.4pt">(a)&nbsp;&nbsp;&nbsp;Credit
Risk</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 0 39.7pt; text-align: justify"><FONT STYLE="font-weight: normal">Credit
risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur
a financial loss. Financial instruments potentially subject to credit risk are cash and cash equivalents and amounts receivable.
The Company holds cash and cash equivalents with large Canadian and Australian banks. Credit risk is concentrated as a large portion
of the Company&rsquo;s cash and cash equivalents is held at one financial institution. Management believes the risk of loss to
be remote. The Company&rsquo;s amounts receivable consists of input tax credits receivable from the Government of Canada and interest
accrued on cash equivalents. Accordingly, the Company does not believe it is subject to significant credit risk.</FONT></P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.55pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;Liquidity
Risk</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 0 39.7pt; text-align: justify">Liquidity risk is the risk that
an entity will encounter difficulty in raising funds to meet commitments associated with financial instruments. The Company attempts
to manage liquidity risk by maintaining sufficient cash and cash equivalent balances. Liquidity requirements are managed based
on expected cash flows to ensure that there is sufficient capital to meet short-term obligations. The Company&rsquo;s approach
to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due. As at June 30, 2018,
NexGen had cash and cash equivalents of $142,929,234 to settle accounts payable and accrued liabilities of $3,795,486.</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 0 21.55pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;Market
Risk</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0.1in 0 0 40.5pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-weight: normal">Market
risk is the risk of loss that may arise from changes in market factors such as interest rates, foreign exchange rates and commodity
and equity prices.</FONT></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3pt"></TD><TD STYLE="width: 19.5pt"><B>12.</B></TD><TD STYLE="text-align: justify"><B>FINANCIAL INSTRUMENTS (continued)</B></TD></TR></TABLE>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify; text-indent: 28.35pt">(i)&nbsp;&nbsp;&nbsp;Interest
Rate Risk</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">Interest rate risk is the risk that
the future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company holds its cash
and cash equivalents in bank accounts that earn variable interest rates. Due to the short-term nature of these financial instruments,
fluctuations in market rates do not have a significant impact on the estimated fair value of the Company&rsquo;s cash and cash
equivalent balances as of June 30, 2018. The Company manages interest rate risk by maintaining an investment policy for short-term
investments. This policy focuses primarily on preservation of capital and liquidity. The Company monitors the investments it makes
and is satisfied with the credit rating of its banks. The Convertible Debentures, in an aggregate principal amount of US$120 million,
carry a fixed interest rate of 7.5% and hence, are not subject to interest rate fluctuations.</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify; text-indent: 28.35pt">(ii)&nbsp;&nbsp;Foreign
Currency Risk</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.5pt; text-align: justify">The functional currency of the Company
and its subsidiaries is the Canadian dollar. The Company is affected by currency transaction risk and currency translation risk.
Consequently, fluctuations of the Canadian dollar in relation to other currencies impact the fair value of financial assets, liabilities
and operating results. Financial assets and liabilities subject to currency translation risk primarily include US dollar denominated
cash and US dollar accounts payable and accrued liabilities. The Company maintains Canadian and US dollar bank accounts in Canada.</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.5pt; text-align: justify">The Company is exposed to foreign
exchange risk on its US dollar denominated Convertible Debentures. At maturity the US$120 million principal amount of the Convertible
Debentures is due in full, and prior to then at a premium upon the occurrence of certain events, including a change of control.
The Company holds sufficient US dollars to make all cash interest payments due under the Convertible Debentures until maturity
but not to pay the principal amount. Accordingly, the Company is subject to risks associated with fluctuations in the Canadian/US
dollar exchange rate that may make the Convertible Debentures more costly to repay.</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify; text-indent: 28.35pt">(iii)&nbsp;&nbsp;Price
risk</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.5pt; text-align: justify">The Company is exposed to price risk
with respect to commodity and equity prices. Equity price risk is defined as the potential adverse impact on the Company&rsquo;s
earnings due to movements in individual equity prices or general movements in the level of the stock market. Accordingly, significant
movements in the Company&rsquo;s share price may affect the valuation of the Convertible Debentures which may adversely impact
its earnings.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.5pt; text-align: justify">Commodity price risk is defined as
the potential adverse impact on earnings and economic value due to commodity price movements and volatility. Future declines in
commodity prices may impact the valuation of long-lived assets. The Company closely monitors commodity prices of uranium, individual
equity movements, and the stock market to determine the appropriate course of action, if any, to be taken by the Company.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt"><B>Sensitivity Analysis</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">As at June 30, 2018, the Company&rsquo;s
US dollar net financial liabilities were US$93,694,059. Thus a 10% change in the Canadian dollar versus the US dollar exchange
rates would give rise to a $10,100,792 change in loss (profit) and comprehensive loss (profit).</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company has not entered into any
agreements or purchased any instruments to hedge possible currency risks at this time.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 25.5pt">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">13.&nbsp;&nbsp;&nbsp;&nbsp;SEGMENT
INFORMATION</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">The Company operates in one reportable
segment, being the acquisition, exploration and development of uranium properties. All of the Company&rsquo;s non-current assets
are located in Canada.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.7pt; text-align: justify; text-indent: 22.3pt"><FONT STYLE="font-weight: normal">&#9;</FONT></P>


<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%"><P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS</P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Expressed in Canadian
        Dollars)</FONT></P>
        <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0 42.5pt 0 0"><FONT STYLE="font-weight: normal">(Unaudited)</FONT></P>
        <P STYLE="font: bold 9.5pt Arial, Helvetica, Sans-Serif; margin: 0">FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018 &amp; 2017</P></TD></TR>
</TABLE></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">14.&nbsp;&nbsp;&nbsp;&nbsp;SUPPLEMENTAL
DISCLOSURE WITH RESPECT TO CASH FLOWS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify"><B>The significant non-cash transactions
during the six-month period ended June 30, 2018 included:</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">a)</TD><TD STYLE="text-align: justify">At June 30, 2018, $1,667,096 of exploration and evaluation asset expenditures and $635,724 of equipment
expenditures were included in accounts payable and accrued liabilities.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">b)</TD><TD STYLE="text-align: justify">Share-based payments of $1,764,759 was included in exploration and evaluation assets (Note 5).</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">c)</TD><TD STYLE="text-align: justify">The re-allocation upon exercise of stock options from reserves to share capital of $1,708,615.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">d)</TD><TD STYLE="text-align: justify">In the six months ended June 30, 2018 IsoEnergy issued 3,330,000 shares valued at $1,282,050 and
a cash payment of $200,000 to expand its interest in the Geiger property (see Note 5(c)).</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">e)</TD><TD STYLE="text-align: justify">In the six months ended June 30, 2018 IsoEnergy issued 1,000,000 shares valued at $350,000 and
a cash payment of $20,000 to acquire Laroque East uranium exploration property (see Note 5(c)).</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt"><B>The significant non-cash transactions during the six-month
period ended June 30, 2017 included: </B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">a)</TD><TD STYLE="text-align: justify">At June 30, 2017, $573,773 of exploration and evaluation asset expenditures and $55,001 of equipment
expenditures were included in accounts payable and accrued liabilities.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 56.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">b)</TD><TD STYLE="text-align: justify">Share-based payments of $1,314,385 included in exploration and evaluation assets (Note 5).</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt">c)</TD><TD STYLE="text-align: justify">The re-allocation upon exercise of stock options from reserves to share capital of $478,512.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">15.&nbsp;&nbsp;&nbsp;&nbsp;COMPARATIVE
FIGURES</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 22.7pt; text-align: justify">Certain amounts have been reclassified
to conform with current period presentation.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top; text-align: left"><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 33%">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 34%">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0; text-align: right"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ex992.htm
<DESCRIPTION>Q2 2018 MANAGEMENT'S DISCUSSION AND ANALYSIS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.2</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">&nbsp;<IMG SRC="logo.jpg" ALT="" STYLE="height: 200; width: 467"></P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 20pt/115% Arial, Helvetica, Sans-Serif; margin: 7.05pt 70.85pt; text-align: center">NEXGEN ENERGY LTD.</P>

<P STYLE="font: 16pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><B>MANAGEMENT&rsquo;S DISCUSSION AND
ANALYSIS</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">For the Three and Six Months Ended
June 30, 2018</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">Dated August 8, 2018</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>GENERAL</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">This management&rsquo;s discussion and
analysis (&ldquo;<B>MD&amp;A</B>&rdquo;) is management&rsquo;s interpretation of the results and financial condition of NexGen
Energy Ltd. (&ldquo;<B>NexGen</B>&rdquo; or the &ldquo;<B>Company</B>&rdquo;) for the three and six months ended June 30, 2018
and includes events up to the date of this MD&amp;A. This discussion should be read in conjunction with the unaudited condensed
consolidated interim financial statements as at and for the three and six months ended June 30, 2018 and the notes thereto (together,
the &ldquo;<B>Interim Financial Statements</B>&rdquo;) and other corporate filings including NexGen&rsquo;s annual information
form for the year ended December 31, 2017 (the &ldquo;<B>AIF</B>&rdquo;) dated March 2, 2018, all of which is available under
the Company&rsquo;s profile on SEDAR at <FONT STYLE="color: #000000">www.sedar.com</FONT>. All dollar figures stated herein are
expressed in Canadian dollars, unless otherwise specified. This MD&amp;A contains forward-looking information. Please see the
section, &ldquo;Note Regarding Forward-Looking Information&rdquo; for a discussion of the risks, uncertainties and assumptions
used to develop the Company&rsquo;s forward-looking information.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">It is important to note that in accordance
with International Financial Reporting Standards (&ldquo;<B>IFRS</B>&rdquo;), IsoEnergy Ltd.&rsquo;s (&ldquo;<B>IsoEnergy</B>&rdquo;)
financial results are consolidated with those of NexGen, including in this MD&amp;A. However, IsoEnergy is a listed entity with
its own management, directors, internal control processes and financial budgets and finances its own operations.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Financial Statements</B></P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Management is responsible for the Interim
Financial Statements referred to in this MD&amp;A. The Audit Committee of the Company&rsquo;s Board of Directors (the &ldquo;<B>Board</B>&rdquo;)
has been delegated the responsibility of reviewing and approving the Interim Financial Statements and MD&amp;A.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Interim Financial Statements have
been prepared in accordance with IAS 34, Interim Financial Reporting, and should be read in conjunction with NexGen&rsquo;s audited
financial statements for the year ended December 31, 2017 (the &ldquo;<B>Annual Financial Statements</B>&rdquo;), which have been
prepared in accordance with IFRS as issued by the International Accounting Standards Board (&ldquo;<B>IASB</B>&rdquo;). Based on
the nature of the Company&rsquo;s activities, both presentation and functional currency is Canadian dollars.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company&rsquo;s Interim Financial
Statements have been prepared using IFRS applicable to a going concern, which assumes that the Company will be able to realize
its assets and discharge its liabilities in the normal course of business for the foreseeable future. The ability of the Company
to continue as a going concern is dependent on its ability to obtain financing and achieve future profitable operations.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify; text-indent: 0">Technical
Disclosure</P>

<P STYLE="font: bold 12pt/normal Times New Roman, Times, Serif; margin: 0 5.75pt 0 0; text-align: justify; text-indent: 21.3pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">All scientific and technical information
in this MD&amp;A has been reviewed and approved by Mr. Troy Boisjoli, Geoscience Licensee, Vice President - Operations &amp; Project
Development for NexGen. Mr. Boisjoli is a qualified person for the purposes of National Instrument 43-101 <I>Standards of Disclosure
for Mineral Projects </I>(&ldquo;<B>NI 43-101</B>&rdquo;), and has verified the sampling, analytical, and test data underlying
the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection
protocols.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal">For
details of the Rook I Project including the key assumptions, parameters and methods used to estimate the updated mineral resource
and preliminary economic assessment (&ldquo;</FONT>PEA<FONT STYLE="font-weight: normal">&rdquo;) set forth below, please refer
to the technical report entitled &ldquo;Technical Report on the Preliminary Economic Assessment of the Arrow Deposit, Rook I Property,
Province of Saskatchewan, Canada&rdquo; dated September 14, 2017 ( the &ldquo;</FONT>Rook I PEA Technical Report<FONT STYLE="font-weight: normal">&rdquo;)
prepared by Jason Cox, David Robson, Mark Mathisen, David Ross, Val Coetzee and Mark Wittrup, each of whom is a &ldquo;qualified
person&rdquo; under NI 43-101. The Rook I PEA Technical Report is available for review under the Company&rsquo;s profile on SEDAR
(<FONT STYLE="color: Black">www.sedar.com</FONT>) and EDGAR (<FONT STYLE="color: Black">www.sec.gov/edgar.shtml).</FONT></FONT></P>

<P STYLE="font: bold 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">Natural gamma radiation in drill
core reported in the September 15, 2017 news release was measured in counts per second (cps) using a Radiation Solutions Inc. RS-120
gamma-ray scintillometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium
grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         2 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">BACKGROUND</P>

<P STYLE="font: bold 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">NexGen
was incorporated pursuant to the <I>Business Corporations Act</I> (British Columbia) on March 8, 2011 as &quot;Clermont Capital
Inc.&quot;, a capital pool company within the meaning of Policy 2.4 - <I>Capital Pool Companies</I> of the TSX Venture Exchange.
On April 19, 2013, the Company completed its &quot;qualifying transaction&quot; and in connection therewith consolidated its common
shares on a 2.35:1 basis and changed its name to &quot;NexGen Energy Ltd.&quot;.</FONT></P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">NexGen
is a Canadian based uranium exploration company engaged in the exploration of its portfolio of early stage uranium exploration
properties located in the Province of Saskatchewan, Canada. NexGen's principal asset is its 100% interest in the Rook I project,
an exploration project in the Athabasca Basin, Saskatchewan (the &quot;</FONT>Rook I Project<FONT STYLE="font-weight: normal">&quot;).</FONT></P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">The
Rook I Project is located in the southwest Athabasca Basin and is the location of the Company&rsquo;s Arrow discovery in February
2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the South Arrow discovery in July 2017. The Rook
I Project consists of thirty-two (32) contiguous mineral claims totaling 35,065 hectares.</FONT></P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company is listed on the Toronto
Stock Exchange (the &ldquo;<B>TSX</B>&rdquo;) and NYSE American, LLC (&ldquo;<B>NYSE American</B>&rdquo;) under the symbol &ldquo;NXE&rdquo;
and is a reporting issuer in each of the provinces of Canada other than Qu&eacute;bec.</P>

<P STYLE="font: 9pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company has three wholly owned subsidiaries:
NXE Energy Royalty Ltd., NXE Energy SW1 Ltd. and NXE Energy SW3 Ltd. (collectively, the &ldquo;<B>Subsidiaries</B>&rdquo;). The
Company also holds 58.93% of the outstanding common shares of IsoEnergy, as of the date hereof.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the year ended December 31, 2017,
the Company completed a financing raising aggregate gross proceeds of US$110 million (the <B>&ldquo;Financing&rdquo;</B>) consisting
of a private placement of: (a) 24,146,424 common shares at a price of US$2.0707 per share, for gross proceeds of US$50 million
(the &ldquo;<B>Placement Shares</B>&rdquo;); and (b) US$60 million in aggregate principal amount of 7.5% unsecured convertible
debentures (the &ldquo;<B>2017 Debentures</B>&rdquo;) with affiliates of CEF Holdings Limited and/or its shareholders (collectively,
the &ldquo;Investors&rdquo;) and in connection therewith (i) extended the maturity date of the existing 7.5% unsecured convertible
debentures (the &ldquo;2016 Debentures&rdquo; and together with the 2017 Debentures, the &ldquo;<B>Convertible Debentures</B>&rdquo;)
from June 11, 2021 to July 22, 2022 to match the maturity date of the 2017 Debentures; and (ii) revised and consolidated certain
other non-financial provisions of the 2016 Debentures, including the strategic alignment provisions, into an investor rights agreement,
described in detail below under &ldquo;Discussion of Operations&rdquo;.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>OVERALL PERFORMANCE </B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>General </B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the six months ended June 30, 2018,
the Company continued exploration activities at its Rook I Project including the completion of 33,582.9 metres of drilling both
regionally and at the Arrow deposit.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">As an exploration stage company, the
Company does not have revenues and historically has recurring operating losses. As at June 30, 2018, the Company had cash and cash
equivalents of $142,929,234 (December 31, 2017: $164,943,850; June 30, 2017: $46,302,691), short-term investments of $nil (December
31, 2017: $nil; June 30, 2017: $12,977,000), an accumulated deficit of $82,490,124 (December 31, 2017: $88,038,390; June 30, 2017:
$54,788,965) and working capital of $140,015,895 (December 31, 2017: $162,745,615; June 30, 2017: $58,718,202).</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Interim Financial Statements do not
include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities
that might be necessary should the Company be unable to continue as a going concern.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Industry and Economic Factors that
May Affect the Business </B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The business of mining for minerals involves
a high degree of risk. NexGen is an exploration company and is subject to risks and challenges similar to companies in a comparable
stage and industry. These risks include, but are not limited to, the challenges of securing adequate capital, exploration, development
and operational risks inherent in the mining industry; changes in government policies and regulations; the ability to obtain the
necessary permitting; as well as global economic and uranium price volatility; all of which are uncertain.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The underlying value of the Company&rsquo;s
exploration and evaluation assets is dependent upon the existence and economic recovery of mineral reserves and is subject to,
but not limited to, the risks and challenges identified above. Changes in future conditions could require material write-downs
of the carrying value of the Company&rsquo;s exploration and evaluation assets.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: justify">In particular, the Company
does not generate revenue. As a result, the Company continues to be dependent on third party financing to continue exploration
activities on the Company&rsquo;s properties, maintain capacity and satisfy contractual obligations including servicing the interest
payments due on its convertible debentures and repaying the principal amount thereof at maturity (or sooner in the event of redemption
in accordance with the terms of the 2017 Debentures and 2016 Debentures, (collectively, the &ldquo;<B>Convertible Debentures</B>&quot;).
Accordingly, the Company&rsquo;s future performance will be most affected by its access to financing, whether debt, equity or other
means.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0.2pt 0 0; text-align: justify">Access to such financing, in
turn, is affected by general economic conditions, the price of uranium, exploration risks and the other factors described in the
section entitled &quot;Risk Factors&quot; in the Company&rsquo;s most recent annual information form, filed March 2, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">At
maturity of the Convertible Debentures, the US$120 million principal amount is due in full, and prior to then at a premium upon
the occurrence of certain events, including a change of control. The Company holds sufficient US dollars to make all interest payments
due under the Convertible Debentures until maturity but not to pay the entire principal amount. Accordingly, the Company is subject
to risks associated with fluctuations in the Canadian/US dollar exchange rate that may make the Convertible Debentures more costly
to repay. In addition, unless the Company commences generating revenue prior to the maturity date of the Convertible Debentures
(or sooner in the event of redemption in accordance with the terms of the Convertible Debentures), the Company will have to raise
funds to repay the principal amount of the Convertible Debentures and there can be no assurance that the Company will be able to
raise sufficient funds when required, at all, or on reasonable terms.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         4 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>SELECTED FINANCIAL INFORMATION</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The following financial data is derived
from the Interim Financial Statements and should be read in conjunction with NexGen&rsquo;s audited Annual Financial Statements
and unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2018:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; vertical-align: middle; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center"></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; vertical-align: middle"><FONT STYLE="font-size: 8pt">For the
    three</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; vertical-align: middle"><FONT STYLE="font-size: 8pt">For the
    six</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center"></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; vertical-align: middle"><FONT STYLE="font-size: 8pt">months
    ended</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; vertical-align: middle"><FONT STYLE="font-size: 8pt">months
    ended</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center"></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Note</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2018</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2017</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2018</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2017</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">Operating expenses</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="width: 35%; text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Salaries, benefits and directors'
    fees</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">10</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">1,726,221</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">615,611</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">2,703,396</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">1,481,857</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Office and administrative</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">392,305</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">271,122</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">865,249</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">661,327</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Professional fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">323,709</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">546,944</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">937,652</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">844,237</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="padding-left: 10pt"><FONT STYLE="font-size: 8pt">Travel</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">223,376</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">201,475</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">426,147</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">330,487</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="padding-left: 10pt"><FONT STYLE="font-size: 8pt">Depreciation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">339,970</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">158,835</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">623,569</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">371,112</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Share-based payments</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,10</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,433,453</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,740,442</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,141,010</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,740,796</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Finance income</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(617,126</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(133,549</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(1,209,671</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(308,046</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Mark to market loss (gain) on convertible
    debentures</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">14,520,153</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(8,275,171</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(20,703,483</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">11,884,777</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Interest expense</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,148,350</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,490,640</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,993,926</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,989,365</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Foreign exchange loss (gain)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(1,024,967</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">365,845</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(2,347,525</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">512,226</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 1pt; padding-left: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Loss
    on disposal of equipment</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">6,815</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;&nbsp;&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">6,065</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;&nbsp;&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Loss
    (profit) from operations</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">24,472,259</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">(3,017,806</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">(5,563,665</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">22,508,138</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Deferred
    income tax expense (recovery)</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(62,605</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(109,347</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(53,573</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">71,275</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Loss
    (profit) and comprehensive loss (profit) for the period</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">24,409,654</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">(3,127,153</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">(5,617,238</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">22,579,413</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">Loss (profit) and comprehensive loss (profit)
    attributable to:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
    of NexGen Energy Ltd.</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">24,304,876</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(3,324,392</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(5,937,322</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">22,152,787</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-controlling
    interests in IsoEnergy Ltd.</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">104,778</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">197,239</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">320,084</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">426,626</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">Loss
    (profit) and comprehensive loss (profit) for the period</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">24,409,654</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">(3,127,153</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">(5,617,238</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 9.5pt; font-weight: bold; padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; font-size: 9.5pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">22,579,413</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 9.5pt; font-weight: bold; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">Loss (profit) per common share attributable
    to the Company's</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic Loss
    (profit) per common share</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.07</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(0.01</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(0.02</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.07</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted
    Loss (profit) per common share</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 8pt">0.07</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 8pt">0.01</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 8pt">0.02</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2pt double; text-align: right"><FONT STYLE="font-size: 8pt">0.07</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">Weighted average number of common shares outstanding</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: red; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="font-weight: bold; padding-left: 10pt"><FONT STYLE="font-size: 8pt">Basic</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">343,884,155</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">309,363,865</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">343,259,173</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">307,883,909</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; padding-bottom: 2.5pt; padding-left: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Diluted</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">343,884,155</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">309,363,865</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">406,662,992</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">307,883,909</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Three months ended June 30, 2018 vs
three months ended June 30, 2017</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the three months ended June 30, 2018,
NexGen incurred a net loss of $24,409,654 or $0.07 per common share, compared to a net profit of $3,127,153 or $0.01 per common
share for the three months ended June 30, 2017.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company incurred a mark to market
loss on Convertible Debentures of $14,520,153 during the three months ended June 30, 2018 as compared to a mark to market gain
of $8,275,171 in the three months ended June 30, 2017. This mark to market loss results from the fair value re-measurement of the
Convertible Debentures at each report date, with any changes in the fair value being recognized in the loss (profit) and comprehensive
loss (profit) for the period. The loss was primarily the result of fluctuations in the Company&rsquo;s share price and foreign
exchange rates.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Salaries, benefits and directors&rsquo;
fees increased from $615,611 in the three months ended June 30, 2017 to $1,726,221 in the three months ended June 30, 2018 mainly
due to severance payments to management personnel.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         5 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Office and administrative costs increased
from $271,122 in the three months ended June 30, 2017 to $392,305 in the three months ended June 30, 2018 mainly due to increased
regulatory filing fees and marketing in the three months ended June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Professional fees decreased from $546,944
in the three months ended June 30, 2017 to $323,709 in the three months ended June 30, 2018 due to a decrease in legal fees pertaining
to legal fees incurred relative to the NYSE American listing in 2017.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Travel expenses increased from $201,475
in the three months ended June 30, 2017 to $223,376 in the three months ended June 30, 2018, primarily due to increases in marketing-related
travel and general corporate activity in the three months ended June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Depreciation increased from $158,835
in the three months ended June 30, 2017 to $339,970 in the three months ended June 30, 2018 due to an increase in the field equipment.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Share-based payments charged to the statement
of loss (profit) and comprehensive loss (profit) increased from $1,740,442 in the three months ended June 30, 2017 to $5,433,453
in the three months ended June 30, 2018. These are non-cash charges derived by the graded vesting method of the Black-Scholes values.
Stock options granted to directors and employees vest over two years with the corresponding share-based compensation expense being
recognized over this period. Variances in share-based compensation expense are expected from period to period depending on many
factors, including whether options are granted in a period and whether options have fully vested or have been cancelled in a period.
The Company granted 5,100,000 stock options with a weighted average fair value per option of $1.89 in the three months ended June
30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Finance income increased from $133,549
in the three months ended June 30, 2017 to $617,126 in the three months ended June 30, 2018 mainly due to interest earned on increased
cash and cash equivalent balances.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Interest expense increased from $1,490,640
in the three months ended June 30, 2017 to $3,148,350 in the three months ended June 30, 2018 due to interest for the full three
months on the 2017 Debentures, with the Convertible Debentures bearing interest at a rate of 7.5% per annum, payable semi-annually.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company incurred a foreign exchange
loss of $365,845 in the three months ended June 30, 2017 compared to a foreign exchange gain of $1,024,967 in the three months
ended June 30, 2018. These amounts are derived from foreign exchange rate fluctuations realized on US dollar denominated transactions
and payments translated into Canadian dollars as well as unrealized foreign exchange rate fluctuations on US dollar cash and accounts
payable balances held on June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">A deferred income tax recovery of $62,605
was incurred in the three months ended June 30, 2018 as compared to $109,347 in the three months ended June 30, 2017. This relates
to IsoEnergy&rsquo;s deferred income tax recovery on the income recognition on the flow-through share premium liability, offset
by the temporary differences arising from the renunciation of flow-through shares in the three months ended June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Six months ended June 30, 2018 vs
six months ended June 30, 2017</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the six months ended June 30, 2018,
NexGen incurred a net profit of $5,617,238 or $0.02 per common share, compared to a net loss of $22,579,413 or $0.07 per common
share for the six months ended June 30, 2017.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company incurred a mark to market
loss on the Convertible Debentures of $11,884,777 during the six months ended June 30, 2017 as compared to a mark to market gain
of $20,703,483 in the six months ended June 30, 2018. Mark to market gains and losses result from the fair value re-measurement
of the Convertible Debentures at each report date, with any changes in the fair value being recognized in the loss (profit) and
comprehensive loss (profit) for the period. The mark to market gain for the six months ended June 30, 2018 is due mainly to a decrease
in the Company&rsquo;s share price from $3.21 at December 31, 2017 to $2.43 at June 30, 2018 and the fluctuation in foreign exchange
rates.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         6 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Salaries, benefits and directors&rsquo;
fees increased from $1,481,857 in the six months ended June 30, 2017 to $2,703,396 in the six months ended June 30, 2018 due to
severance payments to management personnel and hiring of new staff.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Office and administrative costs increased
from $661,327 in the six months ended June 30, 2017 to $865,249 in the six months ended June 30, 2018 due to an increased regulatory
filing fees and marketing.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Professional fees increased from $844,237
in the six months ended June 30, 2017 to $937,652 in the six months ended June 30, 2018 due to an increase in regulatory fees and
legal fees pertaining to various corporate and operational matters in the six months ended June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Travel expenses increased from $330,487
in the six months ended June 30, 2017 to $426,147 in the six months ended June 30, 2018 mainly due to increased marketing related
travel and general corporate activity in the six months ended June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Depreciation increased from $371,112
in the six months ended June 30, 2017 to $623,569 in the six months ended June 30, 2018 due to an increase in the increase infield
equipment.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Share-based payments charged to the statement
of loss (profit) and comprehensive loss (profit) increased from $3,740,796 in the six months ended June 30, 2017 to $7,141,010
in the six months ended June 30, 2018. These are non-cash charges derived by the graded vesting method of the Black-Scholes values.
Stock options granted to directors and employees vest over two years with the corresponding share-based compensation expense being
recognized over this period. Variances in share-based compensation expense are expected from period to period depending on many
factors, including whether options are granted in a period and whether options have fully vested or have been cancelled in a period.
During the six months ended June 30, 2018, the Company granted 5,100,000 stock options with a weighted average fair value per option
of $1.89.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Finance income increased from $308,046
in the six months ended June 30, 2017 to $1,209,671 in the six months ended June 30, 2018 due to an increase in interest earned
on increased cash and cash equivalent balances.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Interest expense increased from $2,989,365
in the six months ended June 30, 2017 to $5,993,926 in the six months ended June 30, 2018. This increase is due to interest expense
for the full six months ended June 30, 2018 of the 2017 Convertible Debenture as compared six months ended June 30, 2017 where
no interest was incurred on the 2017 Convertible Debenture as they were not issued until July 2017.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company incurred a foreign exchange
loss of $512,226 in the six months ended June 30, 2017 compared to a foreign exchange gain of $2,347,525 in the six months ended
June 30, 2018. These amounts are derived from foreign exchange rate fluctuations realized on US dollar denominated transactions
and payments translated into Canadian dollars as well as unrealized foreign exchange rate fluctuations on US dollar cash and accounts
payable balances held on June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">A deferred income tax recovery of $53,573
was incurred in the six months ended June 30, 2018 as compared to a deferred income tax expense of $71,275 in the six months ended
June 30, 2017. This relates to IsoEnergy&rsquo;s deferred income tax recovery on the income recognition on the flow-through share
premium liability, offset by the temporary differences arising from the renunciation of flow-through shares in the three months
ended June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         7 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Financial Position</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The following financial data is derived
from the Interim Financial Statements and should be read in conjunction with NexGen&rsquo;s audited Annual Financial Statements
and unaudited interim financial statements for the three months ended June 30, 2018:</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8.5pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 9pt; font-weight: bold; border-bottom: Black 1.5pt solid">Selected Financial Information</TD><TD STYLE="font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD><TD STYLE="font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD><TD STYLE="font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 9pt; border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">June 30,</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">December 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">June 30,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-align: left">Exploration and evaluation assets</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">174,476,196</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">152,412,555</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">127,446,789</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">325,030,895</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">323,079,350</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">191,478,953</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,976,862</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,014,430</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,568,459</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total non-current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">151,100,546</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">171,724,215</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">83,123,475</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; border-bottom: Black 1.5pt solid">Distributions or cash dividends declared per share</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Financial Position as at June 30,
2018 vs December 31, 2017</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">NexGen had cash and cash equivalents
totaling $142,929,234 as at June 30, 2018 compared to $164,943,850 as at December 31, 2017. This decrease in cash and cash equivalents
was due to exploration and evaluation asset and equipment expenditures of $17,605,107 and $1,659,443, respectively, $4,717,690
of cash used in operating activities and $3,888,006 of cash interest paid on convertible debentures; offset by $2,645,334 of cash
received from stock option exercises and shares of IsoEnergy issued to non-controlling interests for cash of $924,500.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Exploration and evaluation assets increased
from $152,412,555 as at December 31, 2017 to $174,476,196 as at June 30, 2018 due to expenditures made on exploration and evaluation
assets.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Current liabilities increased from $3,014,430
as at December 31, 2017 to $3,976,862 as at June 30, 2018. The majority of this increase is related to the timing of payments for
exploration and evaluation expenditures.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Non-current liabilities decreased from
$171,724,215 as at December 31, 2017 to $151,100,546 as at June 30, 2018 due to the net decrease in fair value of the Convertible
Debentures resulting primarily from fluctuations in the Company&rsquo;s share price and foreign exchange rates since December 31,
2017. The principal amount of the Convertible Debentures is US$120.0 million, due July 22, 2022.</P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>DISCUSSION OF OPERATIONS </B></P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">On May 17, 2017, the Company commenced
trading on the NYSE American under the symbol &ldquo;NXE&rdquo;, and its common shares ceased trading on the OTCQX as of the close
of trading on May 16, 2017.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">On July 21, 2017, the Company
completed the Financing and in connection therewith amended and restated the trust indenture entered into between Computershare
Trust Company of Canada and the Company dated June 10, 2016 in respect of the 2016 Debentures to extend the maturity date of the
2016 Debentures to match the maturity date of the 2017 Debentures. In addition, certain non-financial provisions of the 2016 Debentures,
including in particular the strategic alignment provisions were revised and consolidated into the investor rights agreement described
below.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">An establishment fee consisting
of 869,271 common shares, calculated as 3% of the aggregate principal amount of the 2017 Debentures at a deemed price of US$2.0707
per share, was paid to the Investors in connection with the Financing.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">The Convertible Debentures mature
on July 22, 2022 (the &ldquo;<B>Maturity Date</B>&rdquo;) and bear interest at a rate of 7.5% per annum, payable semi-annually
in arrears, with 5.0% of such interest payable in cash and the remaining 2.5% payable in common shares of the Company, issuable
at a price equal to the volume-weighted average trading price of the common shares calculated in US dollars on the exchange or market which has the greatest trading
volume in the Company&rsquo;s common shares for the 20 consecutive trading days (&ldquo;<B>20-day VWAP</B>&rdquo;) ending three
trading days preceding the date such interest payment is due.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         8 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">The 2017 Debentures are convertible
at the holders&rsquo; option, in whole or in part, into common shares at a conversion price (the &ldquo;2017 Conversion Price&rdquo;)
of US$2.6919 per share, subject to adjustment. The Company may redeem the 2017 Debentures, in whole or in part, from July 21, 2020
and prior to the Maturity Date at a price equal to the outstanding principal amount plus accrued and unpaid interest up to the
redemption date, provided the 20-day VWAP of the common shares for the period ending three trading days preceding the date immediately
prior to the date the redemption notice is given exceeds 130% of the 2017 Conversion Price.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">The 2016 Debentures are convertible
at the holder&rsquo;s option, in whole or in part, into common shares of the Corporation at a conversion price (the &ldquo;<B>2016
Conversion Price</B>&rdquo;) of US$2.3261 per common share, subject to adjustment. The Company may redeem the 2016 Debentures in
whole or in part from June 10, 2019 and prior to the Maturity Date at a price equal to the outstanding principal amount plus accrued
and unpaid interest up to the redemption date, provided the 20-day VWAP of the common shares for the period ending three trading
days preceding the date immediately prior to the date the redemption notice is given exceeds 130% of the 2016 Conversion Price.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Upon completion, of a change of
control (which includes in the case of the Investors&rsquo; right to require the Company to redeem the Convertible Debentures,
a change in the Chief Executive Officer of the Company), the Investors of the Convertible Debentures may require the Company to
redeem, or the Company has the right to redeem, any outstanding Convertible Debentures in cash at: (i) on or prior to July 21,
2020 for the 2017 Debenture and on or prior to June 10, 2019 for the 2016 Debenture, 130% of the principal amount; and (ii) at
any time thereafter, 115% of the principal amount, in each case plus accrued but unpaid interest, if any. In addition, upon the
public announcement of a change of control that is supported by the Board, the Company may require the Investors of the Convertible
Debentures to convert the Convertible Debentures into common shares of the Company at the 2017 Conversion Price or 2016 Conversion
Price, as applicable, provided the consideration payable upon the change of control exceeds the 2017 Conversion Price or 2016 Conversion
Price, respectively, and is either payable in cash or is payable in property or securities which the holders of the 2017 Debentures
or 2016 Debentures, as applicable, in their sole discretion, wish to receive.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">A &ldquo;change of control&rdquo;
of the Company is defined as: (i) the acquisition by any transaction, directly or indirectly, by a person or group of persons acting
jointly or in concert of voting control or direction over 50% or more of the Company&rsquo;s outstanding common shares; (ii) the
amalgamation, consolidation or merger of the Company with or into another entity as a result of which the holders of the common
shares immediately prior to such transaction, directly or indirectly, hold less than 50% of voting control or direction over the
entity carrying on the business of the Company following such transaction; (iii) the sale, assignment, transfer or other disposition
of all or substantially all of the property or assets of the Company to another entity in which the holders of the common shares
immediately prior to such transaction, directly or indirectly, hold less than 50% of voting control or direction following such
transaction; or (iv) the removal by resolution of the shareholders of the Company, of more than 51% of the then incumbent directors
of the Company which removal has not been recommended in the Company&rsquo;s management information circular, or the failure to
elect to the Board a majority of the directors proposed for election by management in the Company&rsquo;s management information
circular.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">In consideration for the increased
investment in the Company pursuant to the Financing, the Company and the Investors entered into an investor rights agreement (the
&ldquo;<B>Investor Rights Agreement</B>&rdquo;) dated July 21, 2017 which provides for the following and replaced those similar
provisions contained in the 2016 Debentures. The Investor Rights Agreement provides that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">for so long as the Investors hold at least 10% of the common shares (on a partially diluted basis),
the Investors agreed: (i) not to tender or agree to tender (or convert) the Convertible Debentures or any common shares then held
to an unsolicited takeover bid that constitutes a change of control, (ii) to exercise the votes attached to all common shares then
held in respect of any change of control transaction, and deposit or tender such common shares, in accordance with the recommendation
of the Board, (iii) to abstain or withhold votes in respect of any common shares they hold in respect of the election of individuals
to the Board who are not nominees of management, and (iv) in respect of non-change of control matters, not to exercise the votes
attached to any common shares they hold contrary to the recommendation of the Board;</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         9 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">for so long as the Investors hold at least 10% of the common shares (on a partially diluted basis),
the Investors agreed to a standstill whereby they will, among other things, not acquire any securities of the Company or solicit
proxies or otherwise attempt to influence the conduct of security holders of the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">for so long as the Investors hold at least 10% of the common shares (on a partially diluted basis),
the Investors are subject to restrictions on disposition applicable to any common shares they hold, consisting of giving prior
notice to the Company of any proposed disposition (within a 30 day period) of more than 0.5% of the number of common shares then
outstanding and either: (i) disposing of such common shares to specific willing investors identified by the Company within a seven-day
period; or (ii)&nbsp;thereafter, disposing of such common shares either through a broad distribution on the public markets or in
a private transaction or block trade to anyone other than specific investors identified by the Company within the seven-day period;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">for so long as the Investors hold at least 15% of the common shares (on a partially diluted basis),
CEF Holdings Limited has the right to nominate one director to the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Each of the foregoing covenants
other than (d) shall terminate upon a completion of a Fundamental Change. A Fundamental Change means the occurrence of any of the
transactions involved or items (i), (ii) or (iii) of the definition of Change of Control set out above and a change in the Company&rsquo;s
Chief Executive Officer.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">On September 18, 2017, the Company issued
111,110 common shares for the acquisition of the remaining 40% interest in the Dufferin Lake property (&ldquo;<B>Dufferin</B>&rdquo;).
Dufferin comprises five contiguous mineral dispositions covering an area of 10,910 hectares and is located approximately 360 kilometres
northwest of La Ronge, Saskatchewan.</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Exploration</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The winter drill program was completed
on April 8, 2018 with a total of 30,207.7 metres drilled and 54 completed holes.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Highlights of the 2018 winter drill program
include the (i) positive infill drill results from the A3 high-grade domains; (ii) step-out holes drilled in key Mineral Resource
expansion areas in the A1 and A2 shears; (iii) further exploration to the northwest of the currently defined boundaries of the
Arrow Deposit successfully intersected a newly discovered mineralized shear zone, named the A0 shear. The final hole of the 2018
winter program, drilled to the northwest of the A0 Shear also intersected off-scale mineralization. The Arrow Deposit remains open
in most directions, with potential for future discoveries in close proximity to existing mineral resources.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">On
June 12, the Company commenced a 20,400 m summer drill program using four diamond drill rigs. The primary objectives of the summer
2018 drill program are to: (i) test newly identified area 160m northwest of the A0 shear zone where hole AR-18-208c1, the last
hole of the winter 2018 drill program, intersected 0.5 m at 0.60% U3O8 (637.5 to 638.0 m) and 3.0 m at 0.35% U3O8 (686.0 to 689.0
m), identifying a potentially new zone of mineralization; (ii) testing of near-Arrow Deposit targets, with systematic wide spread
step-outs from known mineralization. These near-Arrow target areas are located along strike to the southwest of AR-16-090c3 which
intersected 13.0 m at 8.09% U3O8 and northeast of AR-18-189c4 that intersected 7.0 m at 1.78% U3O8 (819.0 to 826.0 m) including
2.0 m at 5.86% U3O8 (822.5 to 824.5 m) and 36.5 m at 0.56% U3O8 (832.0 to 868.5 m) in the A1 and A2 shear zones; (iii) drilling
to determine locations for potential shafts including footwall characterizations holes. Results will be incorporate into the maiden
Pre-Feasibility Study (&ldquo;PFS&rdquo;) to be released late Q3 / early Q4 2018. As of the date hereof, 10,033.64 metres and 13
holes (and 3 holes in progress) have been completed as part of this program.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         10 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">On
March 6, 2017, the Company announced the following updated mineral resource estimate on the Rook I Project having an effective
date of December 20, 2016:</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 0 28.35pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 95%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 19%; border: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Structure</B></FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 16pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Tonnage (tonnes)</B></FONT></TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Grade (U3O8%)</B></FONT></TD>
    <TD STYLE="width: 35%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 24pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Metal U3O8 (U3O8 lbs)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-left: 56.6pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Indicated Mineral Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>A2 High Grade</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>400,000</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>18.84</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>164,900,000</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">A2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">790,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.84</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14,500,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>1,180,000</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>6.88</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>179,500,000</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-left: 56.6pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Inferred Mineral Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">A1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">860,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.76</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">14,300,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>A2 High Grade</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>30,000</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>12.72</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>8,600,000</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">A2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,100,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.76</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">18,500,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>A3 High Grade</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>150,000</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>8.74</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>28,200,000</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">A3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,460,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.16</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">37,300,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">A4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">550,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.07</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">12,900,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">180 m SW</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">110,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.94</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,300,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>4,250,000</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>1.30</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>122,100,000</B></FONT></TD></TR>
</TABLE><BR STYLE="clear: both">


<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 0 28.35pt"></P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt">&nbsp;</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt">Notes:</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 28.35pt; text-align: justify">1. CIM Definition Standards
were followed for mineral resources.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 28.35pt; text-align: justify">2. Mineral resources are
reported at a cut-off grade of 0.25% U3O8 based on a long-term price of US$65 per lb U3O8 and</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 28.35pt; text-align: justify; text-indent: 0.25in">estimated
costs.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 28.35pt; text-align: justify">3. A minimum mining width
of 1.0 m was used.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 28.35pt; text-align: justify">4. Numbers may not add due
to rounding.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">On July 31, 2017, the Company announced
the results of the PEA in respect of the Arrow deposit which was based on the updated mineral resource estimate set forth above.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 95%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 2pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>PEA Financial Highlights</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">After-Tax Net Present Value (NPV<SUB>8%</SUB>)</FONT></TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>CAD $3.49 Billion</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">After-Tax Internal Rate of Return (IRR)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>56.7%</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">After-Tax Cash Payback</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1.1 Years</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Pre-production Capital Costs (CAPEX)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>CAD $1.19 Billion</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average Annual Production (Years 1-5)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>27.6 M lbs U3O8</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average Annual Production (Life of Mine)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>18.5 M lbs U3O8</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Mine Life</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>14.4 Years</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average Unit Operating Cost (Years 1-5)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>CAD $5.53 (US $4.42)/lb U3O8</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Average Unit Operating Cost (Life of Mine)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>CAD $8.37 (US $6.70)/lb U3O8</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Uranium Price Assumption</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>USD $50/lb U3O8</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Saskatchewan Royalties (Life of Mine)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 2pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>CAD $2.98 Bilion</B></FONT></TD></TR>
</TABLE><BR STYLE="clear: both">


<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">Note: Exchange rate
CAD$1 = USD$0.80.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The PEA is preliminary in nature and
includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that
would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized. Mineral resources
that are not mineral reserves do not have demonstrated economic viability.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         11 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Outlook</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company plans to continue exploring
the Rook I Project while progressing its preliminary feasibility study (&ldquo;<B>PFS</B>&rdquo;) schedule for completion in 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">As stated above, the Company does not
generate revenue. As a result, the Company continues to be dependent on third party financing to continue exploration activities
on the Company&rsquo;s properties, maintain capacity and satisfy contractual obligations (including servicing the interest payments
due on the Convertible Debentures and repaying the principal amount thereof when due). Accordingly, the Company&rsquo;s future
performance and activities will be most affected by its access to financing, whether debt, equity or other means. Access to such
financing, in turn, is affected by general economic conditions, the price of uranium, exploration results, and the other factors
described below under &ldquo;Risk Factors&rdquo;.</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase">Summary
of Quarterly ResultS</FONT></P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">The
following financial information is derived from the Company&rsquo;s financial statements, prepared in accordance with IFRS and
presented in Canadian dollars. It should be read in conjunction with the Company&rsquo;s unaudited condensed consolidated interim
financial statements for each of the past eight quarters, as well as the Annual Financial Statements.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; width: 28%; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-bottom: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Expressed
    in Canadian dollars)</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2018</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2018</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2017</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2017</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2017</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2017</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2016</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; width: 9%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2016</B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Jun
    30</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Mar
    31</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec
    31</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Sep
    30</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Jun
    30</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Mar
    31</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Dec
    31</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Sep
    30</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Finance
    income</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617,126
    </FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592,545
    </FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    548,994</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    448,744</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    133,549</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    174,497</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    271,975</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    51,883</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss
    (profit) for the period</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;$&nbsp;&nbsp;24,409,654
    </FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;$
    (30,026,892)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    32,200,006</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    2,051,191</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    (3,127,153)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    25,706,568</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    15,508,785</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    (7,396,613)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss
    (profit) for the period attributable</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">to
    common shareholders</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;$&nbsp;&nbsp;24,304,876
    </FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;$
    (30,242,199)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    31,977,508</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    1,828,692</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    (3,324,392)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    25,477,182</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    14,974,486</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    (7,480,320)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Loss
    (profit) per common share</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">attributable
    to common shareholders</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-
    Basic</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.07</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    (0.09)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.10</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.01</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    (0.01)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.08</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.05</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    (0.02)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-
    Diluted</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.07</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;0.01</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.10</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.01</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;0.01</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.08</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$
    0.05</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 107%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;0.00</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt"></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>




<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">NexGen
does not derive any revenue from its operations except for interest income from its cash and cash equivalent balances. Its primary
focus is the acquisition, exploration and evaluation of resource properties.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">The
significant fluctuations in loss (profit), particularly for the quarterly periods from September 30, 2016 to June 30, 2018, are
mainly the result of mark to market gains or losses recognized on the fair value re-valuation of the Convertible Debentures at
each quarter, with any changes in the fair value being recognized in the loss (profit) for the quarter.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">Interest
income recorded as finance income has fluctuated depending on cash and cash equivalent balances available to generate interest
and the earned rate of interest.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The loss (profit) per period has fluctuated
depending on the Company&rsquo;s activity level and periodic variances in certain items. Quarterly periods are therefore not comparable
due to the nature and timing of exploration activities.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Liquidity
AND CAPITAL RESOURCES </B></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">NexGen has no revenue-producing operations,
earns only minimal interest income on cash and cash equivalents, and historically has recurring operating losses. As at June 30,
2018, the Company had an accumulated deficit of $82,490,124.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">As at the date of this MD&amp;A, the
Company has approximately $138.6 million in cash and cash equivalents and approximately $4.5 million in current liabilities. The
Company&rsquo;s working capital balance as at the date of this MD&amp;A is approximately $134.5 million.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         12 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 6pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 6pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">On July 21, 2017, the Company completed
the Financing raising total gross proceeds of US$110 million. The Financing positions the Company to continue its planned exploration
activities at the Rook I Project and planned pre-development activities and assessments, while maintaining current corporate capacity
(including servicing the interest payments on the Convertible Debentures), which includes wages, consulting fees, professional
fees, costs associated with the Company&rsquo;s office in Vancouver and Saskatoon and fees and expenditures required to maintain
all of its tenements.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company does not have any commitments
for capital expenditures. However, as of the date hereof, the Company has the following contractual obligations:</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 2pt solid">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 2pt solid">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="11" NOWRAP STYLE="text-align: center; border-bottom: Black 2pt solid"><FONT STYLE="font-size: 8pt"><I>(Expressed
    in Canadian dollars)</I></FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Contracts and leases</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Less
    than 1 year</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">1-3
    years</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">3-5
    years</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">After
    5 years</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="width: 50%; font-weight: normal; font-style: normal"><FONT STYLE="font-size: 8pt">Convertible debentures<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-weight: normal; font-style: normal"><SUP>(1)</SUP></FONT></FONT></TD><TD NOWRAP STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">180,331,667</FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">7,800,000</FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">15,600,000</FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">156,931,667<SUP>(3)</SUP></FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;&nbsp;&nbsp;</FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: normal; font-style: normal; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Office leases<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-weight: normal; font-style: normal"><SUP>(2)</SUP></FONT></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">5,728,083</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">348,730</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">1,991,868</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">2,233,539</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-size: 9pt; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 9pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 8pt">1,153,945</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 9pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left; padding-bottom: 1pt; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">Total contractual obligations</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt">186,059,750</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt">8,148,730</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt">17,591,868</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt">159,165,206</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD NOWRAP STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 8pt">1,153,945</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 11pt">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="14" STYLE="font-size: 9pt; font-weight: normal; font-style: normal; text-align: left"><SUP>(<FONT STYLE="font-size: 8pt">1)</FONT></SUP><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Cash
    interest payments on 2016 and 2017 Debentures converted from US$ into C$ at a rate of 1.30.</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="14" STYLE="font-size: 9pt; font-weight: normal; font-style: normal; text-align: left"><FONT STYLE="font-size: 8pt"><SUP>(2)&nbsp;</SUP>&nbsp;Leases
    pertain to Vancouver corporate head office, Saskatoon offices and IsoEnergy's corporate head office.</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="14" STYLE="font-size: 9pt; font-weight: normal; font-style: normal; text-align: left"><FONT STYLE="font-size: 8pt"><SUP>(3)</SUP>&nbsp;&nbsp;This
    includes repayment of the US$120 million principal amount of 2016 and 2017 Debentures which, if not converted prior to maturity,
    will become due and payable (converted from US$ into C$ at a rate of 1.30).</FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">On an ongoing basis, and particularly
in light of current market conditions for mineral exploration, management evaluates and adjusts its planned level of activities,
including planned, exploration and committed administrative costs, to maintain adequate levels of working capital.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">As previously stated, the Company is
dependent on external financing, including equity issuances and debt financing, to fund its activities. Even with the recent Financing,
circumstances that could impair the Company&rsquo;s ability to raise future additional funds include general economic conditions,
the price of uranium and the other factors set forth below under &ldquo;<I>Risk Factors</I>&rdquo; in the Company&rsquo;s current
annual information form and above under &ldquo;Industry and Economic Factors that May Affect the Business&rdquo;.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company has not paid any dividends
and management does not expect that this will change in the near future.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Working capital is held in cash and cash
equivalents, significantly reducing any liquidity risk of financial instruments held by NexGen.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Off-Balance
Sheet Arrangements</B></FONT></P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company had no off-balance sheet
arrangements as at June 30, 2018 or as at the date hereof.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Transactions
With Related Parties</B></FONT></P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Key management personnel include those
persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The
Company has determined that key management personnel consists of executive and non-executive members of the Company&rsquo;s Board
of Directors, corporate officers and related companies.</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Remuneration attributed to key management
personnel can be summarized as follows:</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9.5pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; vertical-align: middle">For the six months ended</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June 30, 2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June 30, 2017</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 56%; text-align: justify; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt">Short-term compensation<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 12%; text-align: right; border-bottom: Black 1pt solid">1,173,314</TD><TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="width: 12%; text-align: right; border-bottom: Black 1pt solid">1,555,455</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt">Share-based payments (stock options)<SUP>(2)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,674,929</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,582,788</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-align: justify; padding-bottom: 1pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,848,243</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,138,243</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 4pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 9pt; text-align: justify; text-indent: -9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8.5pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt">Notes:</TD><TD STYLE="text-align: justify"></TD></TR></TABLE>

<P STYLE="font: 8.5pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><SUP>(1) </SUP>Short-term compensation
to key management personnel for the six months ended June 30, 2018 amounted to $1,173,314 (2017 - $1,555,455) of which $960,625
(2017 - $1,143,855) was expensed and included in salaries, benefits and directors&rsquo; fees on the statement of loss and comprehensive
loss. The remaining $212,689 (2017 - $411,600) was capitalized to exploration and evaluation assets.</P>

<P STYLE="font: 8.5pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><SUP>(2) </SUP>Share-based payments
to key management personnel for the six months ended June 30, 2018 amounted to $6,674,929 (2017 - $3,582,788) of which $6,306,141
(2017 - $3,140,387) was expensed and $368,788 (2017 - $442,401) was capitalized to exploration and evaluation assets.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         13 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">As at June 30, 2018, there was $nil (December
31, 2017 - $542,361) included in accounts payable and accrued liabilities owing to its directors and officers for compensation.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>OUTSTANDING SHARE DATA</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The authorized capital of NexGen consists
of an unlimited number of common shares and an unlimited number of preferred shares. As at August 8, 2018, there were 346,868,068
common shares, 36,000,000 stock options and no preferred shares issued and outstanding.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Set forth below are details regarding
the outstanding stock options.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="padding-right: 20pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Number of</B></FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="padding-right: 17pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Number</B></FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercise</B></FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Remaining</B></FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Contractual</B></FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 20pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Options</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 17pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exercisable</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; line-height: 107%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Price</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Life (Years)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Expiry Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.30</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.47</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">December 19, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">175,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">175,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.40</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">150,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">150,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.46</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.50</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">75,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">75,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.64</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">50,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.65</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">25,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">25,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.24</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">25,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">25,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.39</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.67</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">February 28, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">900,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">900,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.46</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.79</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 15, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,200,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,200,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.50</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.79</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 15, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">300,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">300,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.62</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.79</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 15, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,100,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,100,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.64</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.79</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 15, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">800,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">800,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.65</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.79</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 15, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">475,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">475,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.24</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.79</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 15, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">475,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">475,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.39</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.79</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 15, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,450,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,450,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.40</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.9079</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">May 23, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,300,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,300,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.46</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.901.48</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">December 24, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,850,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,850,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.50</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1.9148</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">May 27, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,250,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,250,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">0.64</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.471.91</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">December 16, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.69</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.9447</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 8, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,425,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,425,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.65</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.984</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 23, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2,800,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,866,667</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.24</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.462.98</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">December 15, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">250,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">166,667</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.11</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.8146</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 22, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,475,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">491,666</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.93</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.383.81</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">November 13, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3,800,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,266,667</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">3.39</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.46.38</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">December 14, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">475,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 14pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">158,333</FONT></TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.39</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.7946</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">April 13, 2023</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4,525,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">1,508,334</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.85</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.9479</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 8, 2023</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">100,000</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">33,333</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">$</FONT></TD>
    <TD STYLE="padding-right: 10.5pt; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">2.66</FONT></TD>
    <TD STYLE="text-align: center; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">4.984</FONT></TD>
    <TD STYLE="padding-left: 13pt; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">June 20, 2023</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 7%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>36,000,000</B></FONT></TD>
    <TD STYLE="width: 4%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 14%; text-align: right; line-height: 107%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>28,066,667</B></FONT></TD>
    <TD STYLE="width: 3%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 5%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 9%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 16%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 28%; line-height: 107%">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES
AND ASSUMPTIONS</P>

<P STYLE="font: bold 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The preparation of the condensed consolidated
interim financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts
of assets, liabilities and contingent liabilities at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Estimates and assumptions are continuously
evaluated and are based on management&rsquo;s experience and other factors, including expectations of future events that are believed
to be reasonable in the circumstances. Uncertainty about these judgments, estimates and assumptions could result in a material adjustment to the carrying
amount of the affected asset or liability in future periods.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Information about significant areas of
estimation uncertainty considered by management in preparing the Interim Financial Statements is as follows:</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         14 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>(i) Impairment</I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">At the end of each financial reporting
period the carrying amounts of the Company&rsquo;s non-financial assets are reviewed to determine whether there is any indication
of an impairment loss or reversal of previous impairment. Where such an indication exists, the recoverable amount of the asset
is estimated in order to determine the extent of the impairment, if any. With respect to exploration and evaluation assets, the
Company is required to make estimates about future events and circumstances regarding whether the carrying amount of intangible
exploration assets exceeds its recoverable amount. Recoverability is dependent on various factors, including the discovery of economically
recoverable reserves, the ability of the Company to obtain the necessary financing to complete development and upon future profitable
production or proceeds from the disposition of the exploration and evaluation assets themselves. Additionally, there are numerous
geological, economic, environmental and regulatory factors and uncertainties that could impact management&rsquo;s assessment as
to the overall viability of its properties or the ability to generate future cash flows necessary to cover or exceed the carrying
value of the Company&rsquo;s exploration and evaluation asset properties.</P>

<P STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>(ii) Share-based payments</I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company uses the Black-Scholes option
pricing model to determine the fair value of options and warrants in order to calculate share-based payments expense and the fair
value of warrants. The Black-Scholes model involves six key inputs to determine fair value of an option or warrant: risk-free interest
rate, exercise price, market price at date of issue, expected dividend yield, expected life, and expected volatility. Certain of
the inputs are estimates that involve considerable judgment and are or could be affected by significant factors that are out of
the Company&rsquo;s control. The Company is also required to estimate the future forfeiture rate of options based on historical
information in its calculation of share-based payments expense.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>(iii) Fair value of financial instruments</I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company measures its financial instruments
at fair value. Where the fair value of financial assets and financial liabilities recorded in the financial statements cannot be
derived from active markets, their fair value is determined using valuation techniques including a convertible note valuation model
for the Convertible Debentures. The inputs used in these models are taken from observable markets where possible, but where this
is not feasible, a degree of judgment is required in establishing fair values. The judgments include considerations of inputs such
as liquidity risk, credit risk and volatility. Changes in assumptions about these factors could affect the reported fair value
of financial instruments.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>changes
in accounting policies</B></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The accounting policies followed by the
Company are set out in Note 4 to the Annual Financial Statements and have been consistently followed in the preparation of these
financial statements except for the following change in accounting policy:</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the period ended June 30, 2018, the
Company transitioned to IFRS 9, Financial Instruments, as of January 1, 2018. As the Company has taken an exemption not to restate
prior periods with respect to classification and measurement, it has recognized the cumulative effects of retrospective application
to shareholders&rsquo; equity at the beginning of the 2018 annual reporting period that includes the date of initial application.
Therefore, the adoption of IFRS 9 resulted in a decrease to opening accumulated deficit on January 1, 2018 of $503,146 with a corresponding
adjustment to accumulated other comprehensive (loss) profit. Additional detail on the effect of adopting IFRS 9 are contained in
Note 4 to the Interim Financial Statements.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Future Accounting Pronouncements:</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The following standards have not been
adopted by the Company and are being evaluated to determine their impact:</P>

<P STYLE="font: 10pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/95% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">IFRS 16 is a new standard that will replace
IAS 17 for the accounting and measurement of leases with a term of more than 12 months, effective for annual periods beginning
on or after January 1, 2019.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Capital Management</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company manages its capital structure,
and makes adjustments to it, based on the funds available to the Company, in order to support the acquisition, exploration and
evaluation of assets. The Board does not establish quantitative return on capital criteria for management, but rather relies on
the expertise of the Company&rsquo;s management to sustain the future development of the business.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the management of capital, the Company
considers all components of equity and is dependent on third party financing, whether through debt, equity, or other means. Although
the Company has been successful in raising funds to date, there is no assurance that the Company will be successful in obtaining
the required financing in the future or that such financing will be available on terms acceptable to the Company.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The properties in which the Company currently
has an interest are in the exploration stage. As such the Company has historically relied on the equity markets to fund its activities.
The Company will continue to assess new properties and seek to acquire an interest in additional properties if it determines that
there is sufficient geologic or economic potential and if it has adequate financial resources to do so.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">As discussed in the section above entitled
&ldquo;Overall Performance&rdquo;, the Company completed a Financing raising gross proceeds of US$110 million in the period ended
December 31, 2017. In addition to holding sufficient US dollars to make all interest payments due under the Convertible Debentures
until maturity, the Company is investing the remaining funds from the Financing into short-term products offering the highest yields.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company is not subject to externally
imposed capital requirements. There were no changes in the Company&rsquo;s approach to capital management during the six months
ended June 30, 2018.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Financial
Instruments and Other instruments</B></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company&rsquo;s financial instruments
consist of cash and cash equivalents, amounts receivable, accounts payable and accrued liabilities, and convertible debentures.
The risks associated with these financial instruments are discussed below.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The fair values of the Company&rsquo;s
cash and cash equivalents, amounts receivable and accounts payable and accrued liabilities approximate their carrying value, due
to their short-term maturities or prompt liquidation ability. The Company&rsquo;s cash and cash equivalents are classified as loans
and receivables and are initially recorded at fair value and subsequently at amortized cost with accrued interest recorded in amounts
receivable.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The fair value of the Company&rsquo;s
Convertible Debentures is re-measured at its fair value at each reporting date with any change in fair value recognized in profit
or loss.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         16 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">The
Company&rsquo;s risk exposure and the impact on its financial instruments are summarized below:</FONT></P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(a) Credit Risk</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify"><FONT STYLE="font-weight: normal">Credit
risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur
a financial loss. Financial instruments potentially subject to credit risk are cash and cash equivalents, short-term investments
and amounts receivable. The Company holds cash and cash equivalents and short-term investments with large Canadian and Australian
banks. Credit risk is concentrated as a significant amount of the Company&rsquo;s cash and cash equivalents on hand and short-term
investments are held at two financial institutions. Management believes the risk of loss to be remote. The Company&rsquo;s amounts
receivable consists of input tax credits receivable from the Government of Canada and interest accrued on cash equivalents and
short-term investments. Accordingly, the Company does not believe it is subject to significant credit risk.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(b) Liquidity Risk</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">Liquidity risk is the risk
that an entity will encounter difficulty in raising funds to meet commitments associated with financial instruments. The Company
attempts to manage liquidity risk by maintaining sufficient cash and cash equivalent balances. Liquidity requirements are managed
based on expected cash flows to ensure that there is sufficient capital to meet short-term obligations. The Company&rsquo;s approach
to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due. As at June 30, 2018,
NexGen had cash and cash equivalents of $142,929,234 to settle accounts payable and accrued liabilities of $3,795,486.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(c) Market Risk</P>

<P STYLE="font: bold 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify">Market risk is the risk of
loss that may arise from changes in market factors such as interest rates, foreign exchange rates and commodity and equity prices.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify"><B>(i) Interest Rate Risk</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">Interest rate risk is the
risk that the future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company holds
its cash and cash equivalents in bank accounts that earn variable interest rates. Due to the short-term nature of these financial
instruments, fluctuations in market rates do not have a significant impact on estimated fair values of the Company&rsquo;s cash
and cash equivalent balances as of June 30, 2018. The Company manages interest rate risk by maintaining an investment policy for
short-term investments held in cash equivalents. This policy focuses primarily on preservation of capital and liquidity. The Company
monitors its investments and is satisfied with the credit rating of its banks. The Convertible Debentures, in an aggregate principal
amount of US$120 million, carry a fixed interest rate of 7.5% and hence, are not subject to interest rate fluctuations.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify"><B>(ii) Foreign Currency Risk
</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">The functional currency of
the Company and its subsidiaries is the Canadian dollar. The Company is affected by currency transaction risk and currency translation
risk. Consequently, fluctuations of the Canadian dollar in relation to other currencies impact the fair value of financial assets,
liabilities and operating results.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">Financial assets and liabilities
subject to currency translation risk primarily include Australian and US dollar denominated cash and US dollar accounts payable
and accrued liabilities. The Company maintains a Canadian and US dollar bank accounts in Canada.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         17 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify"><FONT STYLE="font-weight: normal">The
Company is exposed to foreign exchange risk on its US dollar denominated Convertible Debentures. At maturity the US$120 million
principal amount of the Convertible Debentures is due in full, and prior to then at a premium upon the occurrence of certain events,
including a change of control. The Company holds sufficient US dollars to make all interest payments due under the Convertible
Debentures until maturity but not to pay the entire principal amount. Accordingly, the Company is subject to risks associated with
fluctuations in the Canadian/US dollar exchange rate that may make the Convertible Debentures more costly to repay.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify"><B>(iii) Price Risk</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">The Company is exposed to
price risk with respect to commodity and equity prices. Equity price risk is defined as the potential adverse impact on the Company&rsquo;s
earnings due to movements in individual equity prices or general movements in the level of the stock market. Accordingly, significant
movements in the Company&rsquo;s share price may affect the valuation of the Convertible Debentures which may adversely impact
its earnings.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">Commodity price risk is defined
as the potential adverse impact on earnings and economic value due to commodity price movements and volatility. Future declines
in commodity prices may impact the valuation of long-lived assets. The Company closely monitors the price of uranium, individual
equity movements, and the stock market to determine the appropriate course of action, if any, to be taken by the Company.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify"><B>(iv) Sensitivity Analysis</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.2in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify"><I>As at June 30, 2018, the
Company&rsquo;s US dollar net financial liabilities were US$93,694,059. Thus a 10% change in the Canadian dollar versus the US
dollar exchange rates would give rise to a $10,100,792 change in loss (profit) and comprehensive loss (profit). </I></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-align: justify">The Company has not entered
into any agreements or purchased any instruments to hedge possible currency risks at this time.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>RISK FACTORS </B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">The
operations of the Company are speculative due to the high-risk nature of its business which is the exploration of mining properties.
For a comprehensive list of the risks and uncertainties facing the Company, please see &ldquo;<I>Risk Factors</I>&rdquo; in the
Company&rsquo;s most recent annual information form and above under &ldquo;<I>Industry and Economic Factors that May Affect the
Business</I>&rdquo;. <FONT STYLE="letter-spacing: -0.25pt">These are not the only risks and </FONT>uncertainties that NexGen faces.
Additional risks and uncertainties not presently known to the Company or that the Company currently considers <FONT STYLE="letter-spacing: -0.1pt">immaterial
may also impair its business operations. </FONT>These risk factors could materially affect the Company's future operating results
and could cause actual events to differ materially from those described in forward-looking statements relating to the Company.</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>SEGMENT
INFORMATION</B></FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company operates in one reportable
segment, being the acquisition, exploration and development of uranium properties. All of the Company&rsquo;s non-current assets
are located in Canada.</P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="width: 34%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                                                                                                                                                                                         18 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9.5pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 100%">
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">NEXGEN ENERGY LTD.</P>
        <P STYLE="font: 11pt/normal Arial, Helvetica, Sans-Serif; margin: 0">For the three and six months ended June 30, 2018</P></TD></TR>
</TABLE>

<P STYLE="font: bold 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: center">NOTE REGARDING FORWARD-LOOKING
INFORMATION</P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>This MD&amp;A contains &quot;forward-looking
statements&quot; within the meaning of the United States Private Securities Litigation Reform Act of 1995 and &quot;forward-looking
information&quot; within the meaning of applicable Canadian securities legislation. Forward-looking information and statements
include, but are not limited to, statements with respect to planned exploration activities, the future interpretation of geological
information, the cost and results of exploration activities, future financings, the future price of uranium and requirements for
additional capital.</I></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Generally, but not always,
forward-looking information and statements can be identified by the use of forward-looking terminology such as &ldquo;plans&rdquo;,
&ldquo;expects&rdquo;, &ldquo;is expected&rdquo;, &ldquo;budget&rdquo;, &ldquo;scheduled&rdquo;, &ldquo;estimates&rdquo;, &ldquo;forecasts&rdquo;,
&ldquo;intends&rdquo;, &ldquo;anticipates&rdquo;, or &ldquo;believes&rdquo; or the negative connotation thereof or variations of
such words and phrases or state that certain actions, events or results &ldquo;may&rdquo;, &ldquo;could&rdquo;, &ldquo;would&rdquo;,
&ldquo;might&rdquo; or &ldquo;will be taken&rdquo;, &ldquo;occur&rdquo; or &ldquo;be achieved&rdquo; or the negative connotation
thereof.</I></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>Forward-looking
information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen&rsquo;s
business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous
assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities
are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when
needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required
to conduct NexGen&rsquo;s planned exploration activities will be available on reasonable terms and in a timely manner and that
general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company
in providing forward looking information or making forward looking statements are considered reasonable by management at the time,
there can be no assurance that such assumptions will prove to be accurate.</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>Forward-looking
information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results,
performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of
NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash
flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay
results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate
sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon
key management and other personnel, deficiencies in the Company&rsquo;s title to its properties, uninsurable risks, failure to
manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy,
competition for resources and financing and other factors discussed or referred to in the Company&rsquo;s Annual Information Form
dated March 2, 2018 under &ldquo;Risk Factors&rdquo;.</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>Although
the Company has attempted to identify important factors that could cause actual results to differ materially from those contained
in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended.</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal"><I>There
can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The forward-looking information and statements contained in this MD&amp;A are made as
of the date of this MD&amp;A and, accordingly, are subject to change after such date. The Company undertakes no obligation to update
or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.</I></FONT></P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify"><FONT STYLE="font-weight: normal; text-transform: uppercase"><I>&nbsp;</I></FONT></P>

<P STYLE="font: bold 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify"><FONT STYLE="text-transform: uppercase">Approval</FONT></P>

<P STYLE="font: bold 9.5pt/normal Arial, Helvetica, Sans-Serif; margin: 0 5.75pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-right: 0; margin-left: 0">The
Audit Committee and the Board of NexGen have approved the disclosure contained in this MD&amp;A. A copy of this MD&amp;A will be
provided to anyone who requests it and can be located, along with additional information, on the Company&rsquo;s profile SEDAR
website at <FONT STYLE="color: blue"><U>www.sedar.com</U></FONT> or by contacting the Corporate Secretary, located at Suite 3150,
1021 West Hastings Street, Vancouver, BC V6E 0C3 or at (604) 428-4112.</P>

<P STYLE="font: 9.5pt/normal Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-right: 0; margin-left: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top; text-align: left"><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 33%">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 34%">&nbsp;-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->
                                                                                                                             19 <!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>



<P STYLE="margin: 0; text-align: right"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>ex993.htm
<DESCRIPTION>CEO CERTIFICATE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.3</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Form 52-109F2</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Certification of Interim Filings</I></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Full Certificate</I></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">I, Leigh Curyer, C<I>hief Executive Officer of NexGen Energy
Ltd., </I>certify the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD><B><I>Review:</I></B> I have reviewed the interim financial report and interim MD&amp;A (together, the &ldquo;interim filings&rdquo;)
of N<B>exGen Energy Ltd.</B> (the &ldquo;issuer&rdquo;) for the interim period ended <B>June 30, 2018.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD><B><I>No misrepresentations:</I></B> Based on my knowledge, having exercised reasonable diligence, the interim filings do not
contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to
make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the
interim filings.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD><B><I>Fair presentation:</I></B> Based on my knowledge, having exercised reasonable diligence, the interim financial report
together with the other financial information included in the interim filings fairly present in all material respects the financial
condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD><B><I>Responsibility: </I></B>The issuer&rsquo;s other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (DC&amp;P) and internal control over financial reporting (ICFR), as those terms are defined
in National Instrument 52-109 <I>Certification of Disclosure in Issuers&rsquo; Annual and Interim Filings,</I> for the issuer.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD><B><I>Design:</I></B> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&rsquo;s other certifying
officer(s) and I have, as at the end of the period covered by the interim filings</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>designed DC&amp;P, or caused it to be designed under our supervision, to provide reasonable assurance that</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>material information relating to the issuer is made known to us by others, particularly during the period in which the interim
filings are being prepared; and</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted
by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities
legislation; and</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&rsquo;s
GAAP.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD><B><I>Control framework</I></B><I>:</I> The control framework the issuer&rsquo;s other certifying officer(s) and I used to
design the issuer&rsquo;s ICFR is the <I>Internal control - Integrated Framework</I> issued by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO).</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.2</TD><TD>N/A</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.3</TD><TD>N/A</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>summary financial information about the proportionately consolidated entity, special purpose entity or business that the issuer
acquired that has been proportionately consolidated or consolidated in the issuer&rsquo;s financial statements.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -1in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD><B><I>Reporting changes in ICFR:</I></B> The issuer has disclosed in its interim MD&amp;A any change in the issuer&rsquo;s
ICFR that occurred during the period beginning on April 1, 2018 and ended on June 30, 2018 that has materially affected, or is
reasonably likely to materially affect, the issuer&rsquo;s ICFR.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">Date: August 8, 2018</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&ldquo;Leigh Curyer&rdquo;</I></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">_______________________</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">Leigh Curyer</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">Chief Executive Officer</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: right"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>ex994.htm
<DESCRIPTION>CFO CERTIFICATE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.4</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Form 52-109F2</P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Certification of Interim Filings</I></P>

<P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Full Certificate</I></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">I, Bruce Sprague, C<I>hief Financial Officer of NexGen Energy
Ltd., </I>certify the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD><B><I>Review:</I></B> I have reviewed the interim financial report and interim MD&amp;A (together, the &ldquo;interim filings&rdquo;)
of N<B>exGen Energy Ltd.</B> (the &ldquo;issuer&rdquo;) for the interim period ended <B>June 30, 2018.</B></TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD><B><I>No misrepresentations:</I></B> Based on my knowledge, having exercised reasonable diligence, the interim filings do not
contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to
make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the
interim filings.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD><B><I>Fair presentation:</I></B> Based on my knowledge, having exercised reasonable diligence, the interim financial report
together with the other financial information included in the interim filings fairly present in all material respects the financial
condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD><B><I>Responsibility: </I></B>The issuer&rsquo;s other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (DC&amp;P) and internal control over financial reporting (ICFR), as those terms are defined
in National Instrument 52-109 <I>Certification of Disclosure in Issuers&rsquo; Annual and Interim Filings,</I> for the issuer.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD><B><I>Design:</I></B> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&rsquo;s other certifying
officer(s) and I have, as at the end of the period covered by the interim filings</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>designed DC&amp;P, or caused it to be designed under our supervision, to provide reasonable assurance that</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>material information relating to the issuer is made known to us by others, particularly during the period in which the interim
filings are being prepared; and</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 2in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted
by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities
legislation; and</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&rsquo;s
GAAP.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD><B><I>Control framework</I></B><I>:</I> The control framework the issuer&rsquo;s other certifying officer(s) and I used to
design the issuer&rsquo;s ICFR is the <I>Internal control - Integrated Framework</I> issued by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO).</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.2</TD><TD>N/A</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.3</TD><TD>N/A</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>summary financial information about the proportionately consolidated entity, special purpose entity or business that the issuer
acquired that has been proportionately consolidated or consolidated in the issuer&rsquo;s financial statements.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-indent: -1in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD><B><I>Reporting changes in ICFR:</I></B> The issuer has disclosed in its interim MD&amp;A any change in the issuer&rsquo;s
ICFR that occurred during the period beginning on April 1, 2018 and ended on June 30, 2018 that has materially affected, or is
reasonably likely to materially affect, the issuer&rsquo;s ICFR.</TD></TR></TABLE>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">Date: August 8, 2018</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&ldquo;Bruce Sprague&rdquo;</I></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">_______________________</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">Bruce Sprague</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">Chief Financial Officer</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: right"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" "9 64# 2(  A$! Q$!_\0
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MRG[*:<Z<FKJ-6F^6I3E;^:"3L^64K,EHHHKZT[PHHHH **** "BBB@ HHHH
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M#&N>FYY&51GMDU5M-6TJ_8I8ZGI]ZX!)2TO+:Y8 =25AD<@#OD<5_(OJ5_\
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MU:53$?7\XQ]6HU[/$9AC)Q34\*U*4:5.;B_:2DES79_)Q_P=@_\ (F?L1_\
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M-/L[N]-K>1PW'V6UN+GRO(ADE7\ OV6?V7!XM\:^#?\ A:G@S4?'OQ(^%O\
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M10 4444 %%%% !1110 A .<]Q@_3_)JNUE:.69[:!V<Y9FB1F8@!1EB"3@
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
K%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% '__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
