Global Uranium Exploration Report - May 31, 2026

A Review of Projects, Drill Results & Key Developments

CANADA — Athabasca Basin & Nunavut

NexGen Energy (TSX/NYSE: NXE) — Rook I Project, Patterson Lake, Saskatchewan

On March 5, 2026, the Canadian Nuclear Safety Commission issued the formal Licence to Prepare Site and Construct for NexGen Energy’s Rook I project. This was the final federal regulatory approval required before construction could begin. All provincial approvals were already in place. NexGen has stated that construction is expected to commence in summer 2026, with a build timeline of approximately four years targeting early 2030s production.

[SOURCE: NexGen Energy press release, March 5, 2026 — newsfilecorp.com/release/286359/ | CNSC official notice — canada.ca/en/nuclear-safety-commission/news/2026/03/commission-issues-a-licence-to-nexgen-energy-ltd-authorizing-site-preparation-and-construction-of-its-rook-i-project.html]

NexGen’s 2026 exploration program at the Patterson Corridor East zone (PCE) was active throughout the quarter. The total planned drill program is 42,000 metres at PCE plus an additional 3,500 metres at the SW3 property, for a combined 45,500-metre campaign. As of April 22, 2026, the company had completed 12,758.2 metres of that program. Winter drilling expanded the high-grade subdomain at PCE vertically by 33%, increasing its vertical extent from approximately 412 metres to 550 metres. A new high-grade subdomain had been identified at approximately 850 metres depth, with the zone remaining open at depth. The summer drilling campaign was scheduled to recommence during the week of May 25, 2026.

[SOURCE: NexGen Energy press release, April 22, 2026 — newsfilecorp.com/release/293775/NexGen-Announces-Expansion-of-HighGrade-Zone-at-Patterson-Corridor-East-PCE-and-the-Completion-of-2026-Winter-Drill-Program]

IsoEnergy (TSX: ISO) — Larocque East / Hurricane Deposit, Saskatchewan