Nexus Uranium to acquire Arizona Strip project

Executive Summary

• Nexus Uranium Corp. has entered into a definitive agreement to acquire a 100% interest in the Arizona Strip project, a uranium exploration project located in Mohave County, Arizona.
• The acquisition includes 38 federal BLM lode mining claims covering seven drill-ready collapse breccia pipe targets, which are situated in one of North America's highest-grade historic uranium districts.
• The transaction is structured as a share purchase for 2.7 million common shares, with closing expected shortly subject to regulatory acceptance and customary conditions.

Key Details

• Asset Acquired: 100% undivided interest in the Arizona Strip project, comprising 38 federal Bureau of Land Management (BLM) lode mining claims.
• Targets: Seven collapse breccia pipe uranium targets previously explored by Tournigan Energy Ltd. (2006–2008).
• Consideration: Issuance of 2.7 million common shares to the vendor and shareholders.
• Royalties: No royalty interest retained by the vendor; no underlying royalty encumbers the project.
• Closing Conditions: Subject to acceptance by the Canadian Securities Exchange (if required) and satisfaction of customary closing conditions.
• Share Restrictions: Issued shares are subject to a statutory four-month hold period from the date of issuance.
• Target Specifics:
  • SGB (6 claims): Highest-priority target; uranium values up to 1,100 ppm; anomalous copper and silver.
  • RN (2 claims): Strongest copper values (1,560 to 4,020 ppm Cu); significant zinc and uranium anomalism.
  • EM (6 claims): Only drill-confirmed target; historic drill hole intersected breccia at depth; company compiling historic drill records.
  • BUS (6 claims): Central soil anomaly with uranium, silver, and arsenic values.
  • JD (6 claims): Multielement anomaly including uranium, arsenic, nickel, molybdenum, and zinc.
  • LJ (6 claims): Elevated arsenic, nickel, zinc, vanadium, molybdenum, and silver; surface depression consistent with pipe morphology.
  • ULJ (6 claims): Multiple surface indicators of a collapse pipe system; uranium, arsenic, nickel, and silver anomaly.
• Technical Disclosure: Reviewed by Warren D. Robb, PGeo (Director and Qualified Person). Data is historical, not independently verified by Nexus, and no mineral resource or reserve has been defined.
• Chord Project Update: South Dakota Board of Minerals hearing rescheduled for April 13–17, 2026. Maiden drill program anticipated to commence in summer 2026, subject to permit receipt.

Notable Quotes

• "The Arizona Strip is in a category of its own when it comes to uranium grade -- the historic mines in this district set the benchmark for what high-grade breccia pipe uranium production can look like," said Jeremy Poirier, chief executive officer of Nexus Uranium.
• "This acquisition aims to advance our strategy of building a diversified portfolio of uranium assets across established U.S. districts by adding a fundamentally different deposit type alongside the resource-stage Chord project in South Dakota."