(a)	Rook I Property

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 totaling 35,065 hectares.

The Rook I Project hosts the

100% owned

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. During the year ended December 31, 2021, the Company filed a feasibility study for the Rook I Project.

NexGen has a 100% interest in the claims subject only to: (i) a 2% net smelter return royalty (“NSR”); and (ii) a 10% production carried interest, in each case, only on claims

S-113928

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.

(b)	Other Athabasca Basin Properties

The Other Athabasca Basin Properties are a portfolio of early-stage mineral properties in the Athabasca Basin. The properties are grouped geographically as “SW1”, “SW2” and “SW3”. 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.

(c)	IsoEnergy Properties

The IsoEnergy Properties consist of

the following properties located in the Athabasca region of Saskatchewan:

(i) a 100% interest in the Radio Project, Saskatchewan (subject to a 2% NSR and 2% gross overriding royalty

on diamonds

)

; (ii) a 100% interest in the Thorburn Lake Project

(subject to a 1% NSR and a 10% carried interest which can be converted to a 1% NSR at the holder’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 Geiger property; (v) a 100% interest in the

Larocque

East property

that consists of 6 mineral claims constituting 16,780 hectares and includes the Hurricane Zone; (vi) a 100% interest in the Evergreen Property

that constitutes 32,400 hectares; and (vii) a portfolio of newly staked claims in Saskatchewan, all of which are early stage exploration properties.


	Rook 1		Other Athabasca Basin Properties		IsoEnergy Properties			Total
Acquisition cost
Balance at December 31, 2020	$	235	$	1,458	$	26,778		$	28,471
Additions		—		—		27			27
Dispositions		—		—		(145	)		(145	)

Balance as at December 31, 2021	$	235	$	1,458	$	26,660		$	28,353
Deferred exploration costs
Balance at December 31, 2020		216,350		9,173		20,728			246,251
Additions:
General exploration and drilling		6,502		—		3,615			10,117
Environmental, permitting, and engagement		15,154		—		2			15,156
Technical, engineering and design		13,893		—		1			13,894
Geochemistry and assays		—		—		333			333
Geological and geophysical		116		7		775			898
Labour and wages		4,925		—		815			5,740
Share-based payments		3,696		—		1,561			5,257
Travel		305		—		239			544

Total Additions		44,591		7		7,341			51,939

Balance as at December 31, 2021	$	260,941	$	9,180	$	28,069		$	298,190

Total costs, December 31, 2021	$	261,176	$	10,638	$	54,729		$	326,543


	Rook 1		Other Athabasca Basin Properties		IsoEnergy Properties		Total
Acquisition Cost
Balance at December 31, 2019	$	235	$	1,458	$	26,636	$	28,329
Additions		—		—		142		142

Balance as at December 31, 2020	$	235	$	1,458	$	26,778	$	28,471
Deferred exploration costs
Balance at December 31, 2019		199,784		9,164		15,104		224,052
Additions:
General exploration and drilling		1,407		5		3,395		4,807
Environmental, permitting, and engagement		6,726		—		137		6,863
Technical, engineering and design		4,158		—		225		4,383
Geochemistry and assays		—		—		318		318
Geological and geophysical		—		4		31		35
Labour and wages		2,925		—		1,141		4,066
Share-based payments		1,281		—		235		1,516
Travel		69		—		142		211

Total Additions		16,566		9		5,624		22,199

Balance as at December 31, 2020	$	216,350	$	9,173	$	20,728	$	246,251

Total costs, December 31, 2020	$	216,585	$	10,631	$	47,506	$	274,722