Nexus Uranium acquires Deadhorse project next to Chord

Executive Summary

• Nexus Uranium Corp. has acquired the Deadhorse uranium project in South Dakota via staking, consolidating its land position in the historic Edgemont uranium district.
• The acquisition adds 17 unpatented lode mining claims (approx. 340 acres) located within three miles of the company's flagship Chord project, with no underlying royalties.
• The move supports Nexus's strategy to build a stand-alone In-Situ Recovery (ISR) project in South Dakota to address the U.S. uranium supply deficit.

Key Details

• Transaction Structure: Acquisition via staking; wholly owned with no underlying royalties.
• Asset Details: Deadhorse uranium project comprising 17 unpatented lode mining claims.
• Land Size: Approximately 340 acres.
• Location: Fall River County, South Dakota, within three miles of the Chord uranium project.
• Geological Context: Located in the historic Edgemont uranium district (Black Hills region); prospective ground within the same geological setting as the Chord project (Cretaceous-age sandstones and paleochannel systems within the Inyan Kara Group).
• Historical Production Context: The broader Black Hills region has documented historical uranium production from sandstone-hosted deposits of approximately 3.2 million pounds of U3O8.
• Strategic Goal: Advances the company's goal of building a stand-alone ISR project in South Dakota and expanding its U.S. asset portfolio.

Notable Quotes

• "The Deadhorse acquisition reinforces our thesis that the lands surrounding the Chord project host significant uranium exploration potential," said Jeremy Poirier, chief executive officer. "With nuclear energy firmly established as a critical component of the clean energy transition, the United States faces a structural supply deficit -- importing over 90 per cent of its uranium requirements. By systematically expanding our footprint in South Dakota, we are positioning Chord to be a stand-alone uranium project to contribute to domestic supply security while creating value for our shareholders."