# EX-99.1 Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45 Original source: https://www.sec.gov/Archives/edgar/data/1698535/000119312526089376/d84755dex991.htm Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-10-19T17:35:27.585Z Atlas analysis updated: 2026-10-19T17:35:27.585Z - Company: NexGen Energy Ltd. - Ticker: NGEX - Exchange: TSX - Region: Saskatchewan, Canada - Primary commodity: Uranium - Secondary commodities: None reported - Document categories: Other, Resource update, Production, Metallurgy - Extracted: 2026-10-19 17:35:27 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary This annual information form for NexGen Energy focuses on the Rook I uranium project, including feasibility-study economics, resource and reserve estimates, permitting progress, and recent exploration activity. It also discusses the company’s financing actions, corporate updates, and 2025 development work. The document is primarily a broad corporate and project disclosure rather than a single technical event. Reasoning: This is a broad annual information form whose substantive current event is disclosure of project economics, resource/reserve status, and permitting progress for the Rook I uranium project. - Positive factor: NI 43-101-qualified technical disclosure - Positive factor: positive economics and feasibility study metrics disclosed - Positive factor: resource and reserve estimates are fully tabulated - Positive factor: permitting milestone progress disclosed - Negative factor: annual information form bundles extensive historical information and boilerplate - Negative factor: some economic figures are an interim trend update rather than a new study - Negative factor: no new assays or drill intercepts are the core current event Low confidence — this extraction should be reviewed alongside the original source. - Rubric flag: economic\_study classification ambiguity — The document is an annual information form with feasibility-study content; if the pipeline prefers single-event documents, consider categorizing the release as other rather than economic\_study. Facts used in scoring: 11 ## Classification and evidence **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Scientific and technical information was reviewed and approved by Mr. Simon Allard, P.Eng. and Mr. Jason Craven, P.Geo., each stated to be a qualified person. Evidence · text > reviewed and approved by Mr. Simon Allard, P.Eng., Vice President, Commercial, and Mr. Jason Craven, P.Geo. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The document states the technical information was prepared for the Rook I FS Technical Report under NI 43-101. Evidence · text > qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource and reserve tables explicitly state cut-off grades of 0.25% U3O8 and 0.30% U3O8. Evidence · text > reported at a cut-off grade of 0.25% U 3 O 8 **Free Milling** Polarity: positive Story-specific tag Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: Metallurgical testwork and process design describe a conventional uranium process flow with ore sorting, grinding, leaching, SX and precipitation, not refractory treatment. Evidence · text > The process plant design for the Rook I Project is based on the metallurgical testing and on the latest unit processes successfully used in uranium process plants across the world **Pilot Scale Complete** Polarity: positive Story-specific tag Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: The release states that a pilot plant was completed and used to support the feasibility study recovery assumption. Evidence · text > included a bench test program, a pilot plant, and paste backfill testing **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The document discloses blanks, field duplicates and SRMs with insertion frequencies and acceptance criteria. Evidence · text > Standard reference materials \(SRM\) **Apparent Width Only** Polarity: negative Story-specific tag Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The release says core interval measurements and true thicknesses are not determined until assay results are received. Evidence · text > Core interval measurements and true thicknesses are not determined until assay results are received. **Nearology Play** Polarity: neutral Story-specific tag Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The 2025 program is described as testing extents of mineralization identified in early 2024 at the PCE discovery, 3.5 km east of Arrow. Evidence · text > 3.5 kilometers \(“km”\) east of the Arrow Deposit **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 2 distinct composites were tested ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Resource Estimates (9) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-0) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:2a077fae94841bbe501b - Deposit or zone: Arrow Deposit #### Resource Data - Category: measured - Tonnes: 2183000 - Grade: 4.35 - Grade Unit: % U 3 O 8 - Contained Metal: 209600000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.25 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2019-07-19 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: Measured resource row for the Arrow Deposit is explicitly stated in the feasibility-study resource table. - Positive factor: Measured category disclosed - Positive factor: contained metal disclosed - Positive factor: NI 43-101 technical report referenced - Negative factor: historical resource estimate dated 2019-07-19 - Negative factor: cut-off grade is historical rather than current announcement data #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-1) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:96e2dd2ac90d8f6d2bca - Deposit or zone: Arrow Deposit #### Resource Data - Category: indicated - Tonnes: 1572000 - Grade: 1.36 - Grade Unit: % U 3 O 8 - Contained Metal: 47100000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.25 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2019-07-19 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: Indicated resource row for the Arrow Deposit is explicitly stated in the feasibility-study resource table. - Positive factor: Indicated category disclosed - Positive factor: contained metal disclosed - Positive factor: NI 43-101 technical report referenced - Negative factor: historical resource estimate dated 2019-07-19 - Negative factor: cut-off grade is historical rather than current announcement data #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-2) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:45d49c51f33a277e2bd4 - Deposit or zone: Arrow Deposit #### Resource Data - Category: inferred - Tonnes: 4399000 - Grade: 0.83 - Grade Unit: % U 3 O 8 - Contained Metal: 80700000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.25 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2019-07-19 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: Inferred resource row for the Arrow Deposit is explicitly stated in the feasibility-study resource table. - Positive factor: Inferred resource disclosed with contained metal - Positive factor: NI 43-101 technical report referenced - Negative factor: high Inferred proportion limits confidence - Negative factor: historical resource estimate dated 2019-07-19 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-3) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:531b267723151a396e33 - Deposit or zone: Arrow Deposit #### Resource Data - Category: probable - Tonnes: 4575000 - Grade: 2.37 - Grade Unit: % U 3 O 8 - Contained Metal: 239600000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.3 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2021-01-21 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: Probable reserve row for the Arrow Deposit is explicitly stated in the reserve table. - Positive factor: Probable reserve disclosed - Positive factor: contained metal disclosed - Positive factor: mineable reserve category supports project economics - Negative factor: historical reserve estimate dated 2021-01-21 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-4) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:72bcfa3b228ac505db5e - Deposit or zone: Arrow Deposit #### Resource Data - Category: proven - Tonnes: 0 - Grade: 0 - Grade Unit: % U 3 O 8 - Contained Metal: 0 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.3 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2021-01-21 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: Proven reserve is explicitly reported as zero in the reserve table. - Positive factor: Proven category is explicitly reported in the reserve table - Negative factor: zero tonnes and contained metal #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-7) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2019-07-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:9bd969280e40378374c6 - Deposit or zone: Arrow Deposit #### Resource Data - Category: measured - Tonnes: 2183000 - Grade: 4.35 - Grade Unit: % U 3 O 8 - Contained Metal: 209600000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.25 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2019-07-19 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: The same measured resource is restated in the detailed resource table. - Positive factor: Measured resource disclosed in the table - Positive factor: contained metal stated - Negative factor: duplicate historical resource disclosure #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-8) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2019-07-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:56d1f1b4d8a2f21245f2 - Deposit or zone: Arrow Deposit #### Resource Data - Category: indicated - Tonnes: 1572000 - Grade: 1.36 - Grade Unit: % U 3 O 8 - Contained Metal: 47100000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.25 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2019-07-19 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: The same indicated resource is restated in the detailed resource table. - Positive factor: Indicated resource disclosed in the table - Positive factor: contained metal stated - Negative factor: duplicate historical resource disclosure #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-9) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: resource - Effective date: 2019-07-19T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:4ad24acc7fc4439ae55b - Deposit or zone: Arrow Deposit #### Resource Data - Category: inferred - Tonnes: 4399000 - Grade: 0.83 - Grade Unit: % U 3 O 8 - Contained Metal: 80700000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.25 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2019-07-19 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: The same inferred resource is restated in the detailed resource table. - Positive factor: Inferred resource disclosed in the table - Positive factor: contained metal stated - Negative factor: duplicate historical resource disclosure #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 7.3 years before this release ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-resource-facts-10) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Resource scope - Estimate type: reserve - Effective date: 2021-01-21T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Simon Allard, Mr. Jason Craven - Resource group id: resource:cf1b2bc1a6e6b3f95502 - Deposit or zone: Arrow Deposit #### Resource Data - Category: probable - Tonnes: 4575000 - Grade: 2.37 - Grade Unit: % U 3 O 8 - Contained Metal: 239600000 - Contained Unit: lb u 3 o 8 - Cutoff Grade: 0.3 - Cutoff Unit: % U 3 O 8 #### Prior Estimate - Resource Date: 2021-01-21 #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories #### Location - Loc. Confidence: high #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: The same probable reserve is restated in the detailed reserve table. - Positive factor: Probable reserve disclosed in the table - Positive factor: contained metal stated - Negative factor: duplicate historical reserve disclosure #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.7 years before this release ## Metallurgical Results (2) ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-metallurgical-facts-5) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: ore sorting, grinding, leaching, counter current decantation and clarification, SX, gypsum precipitation and washing, YC precipitation and washing, YC drying, calcining and packaging - Sample: 2018 metallurgical test program #### Recovery - Recovery: 97.6 % - Recovery Basis: actual\_test #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories - Consultant: Wood #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: The feasibility study states a metallurgical steady state uranium recovery of 97.6% based on pilot plant test work. - Positive factor: pilot plant results underpin the feasibility study - Positive factor: very high uranium recovery disclosed - Positive factor: conventional processing route described - Negative factor: historical test work rather than new program #### Tags used in scoring **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ### pilot leach [Link to this fact](https://atlas-extractions.minestarters.com/news/ex-99-1--b2ac1b3d-eaa5-4a9e-aa49-b860afdc3d45#fact-metallurgical-facts-6) Rook I Project · uranium Historical result Needs review: historical\_restatement #### Identity - Project: Rook I Project - Commodity: uranium - Region: canada\_sk - Reported Region: Saskatchewan, Canada - Ticker: NGEX #### Test Work - Program Status: detailed - Test Type: pilot leach - Processing Route: leaching - Sample: pilot leach testing #### Recovery - Recovery: 99.3 % - Recovery Basis: actual\_test #### Lab - Laboratory: Saskatchewan Research Council Geoanalytical Laboratories - Consultant: Wood #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-03-10T00:00:00.000Z Reasoning: Pilot leach testing results indicated uranium extractions of 99.3%. - Positive factor: pilot leach testing result disclosed - Positive factor: excellent extraction figure - Negative factor: route is not fully quantified in the text beyond pilot leach #### Tags used in scoring **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.