EXPLORATION AND EVALUATION ASSETS

12 Months Ended

Dec. 31, 2017

Statement [Line Items]

EXPLORATION AND EVALUATION ASSETS [Text Block]

5. EXPLORATION AND EVALUATION ASSETS

(a)	Rook 1 Property
	The Rook 1 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.
	The Rook 1 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.
	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 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.
(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.
	During the year ended December 31, 2016, the Company recognized an impairment of $964,858 associated with certain Sandhill Lake, Castle South and Castle North properties in the statement of loss and comprehensive loss. 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. In respect of both years, the Company decided not to continue exploring some of these claims and allowed them to lapse.
(c)	IsoEnergy Properties
	The IsoEnergy Properties consist of (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 (subject to a 1% net smelter return royalty and a 10% carried interest which can be reduced to 1% 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 Mountain Lake property, Nunavut; (v) a 100% interest in the Geiger property, Saskatchewan; and (vi) a portfolio of newly staked claims in Saskatchewan, all of which are early stage properties.

The following is a summary of the capitalized costs on the projects described above.

		Rook 1		Other Athabasca Basin Properties			IsoEnergy Properties		Total
		$		$			$		$
Acquisition costs:
Balance, December 31, 2016	$	230,807	$	1,124,277		$	21,438,306		22,793,390
Additions		4,270		333,330			3,298,942		3,636,542
Balance, December 31, 2017	$	235,077	$	1,457,607		$	24,737,248		26,429,932
Deferred exploration costs:
Balance, December 31, 2016	$	77,007,303	$	4,318,909		$	5,327,318	$	86,653,530
Additions:
Drilling		20,592,799		3,297			1,168,096		21,764,192
General exploration		2,163,554		25,885			110,603		2,300,042
Geological and geophysical		5,206,266		681,955			521,632		6,409,853
Labour and wages		4,391,456		-			510,398		4,901,854
Share-based payments (Note 9)		2,952,316		-			357,475		3,309,791
Travel		624,265		-			106,845		731,110
		35,930,656		711,137			2,775,049		39,416,842
Impairment		-		(87,749	)		-		(87,749	)
Balance, December 31, 2017	$	112,937,959	$	4,942,297		$	8,102,367	$	125,982,623
Total costs, December 31, 2017	$	113,173,036	$	6,399,904		$	32,839,615	$	152,412,555

		Rook 1	Other Athabasca Basin Properties		IsoEnergy Properties	Radio		Total
		$	$		$	$		$
Acquisition costs:
Balance, December 31, 2015	$	220,713	1,274,966		-	20,133,753		21,629,432
Additions		10,094	53,864		1,100,000	-		1,163,958
Properties transferred to IsoEnergy		-	(204,553	)	20,338,306	(20,133,753	)	-
Balance, December 31, 2016	$	230,807	1,124,277		21,438,306	-		22,793,390
Deferred exploration costs:
Balance, December 31, 2015	$	37,803,918	3,409,339		-	2,293,824		43,507,081
Additions:
Drilling		24,989,860	16,061		1,197,163	-		26,203,084
General exploration		2,283,418	8,873		119,460	-		2,411,751
Geological and geophysical		5,333,676	1,991,174		882,866	-		8,207,716
Labour and wages		3,542,893	-		363,420	-		3,906,313
Share-based payments (Note 9)		2,779,787	-		256,420	-		3,036,207
Travel		273,751	-		72,485	-		346,236
		39,203,385	2,016,108		2,891,814	-		44,111,307
Properties transferred to IsoEnergy		-	(141,680	)	2,435,504	(2,293,824	)	-
Impairment		-	(964,858	)	-	-		(964,858	)
Balance, December 31, 2016	$	77,007,303	4,318,909		5,327,318	-		86,653,530
Total costs, December 31, 2016	$	77,238,110	5,443,186		26,765,624	-		109,446,920