Nexus Uranium receives USFS OK for scoping at Chord

Executive Summary

• Nexus Uranium Corp. has received confirmation from the U.S. Forest Service (USFS) that public scoping for the federal lands component of its Chord uranium project in South Dakota will begin in mid-January 2026.
• This milestone marks the entry into the formal National Environmental Policy Act (NEPA) public review phase, following the acceptance of the plan of operations and completion of prescoping consultations.
• The company expects the federal scoping process to conclude by mid-July 2026, with a target permitting timeline leading toward a drill permit, supported by an upcoming state mineral board hearing for Section 36.

Key Details

• Public Scoping Start: Confirmed by USFS to commence in mid-January 2026 for the federal lands component of the Chord project in Fall River County, South Dakota.
• Permitting Timeline:
  • Scoping period expected to complete by mid-July 2026 (standard 30-day period, potentially extended by 30-45 days).
  • Draft biological assessment and hydrological specialist reports expected mid-January 2026; finalization shortly thereafter.
• Completed Milestones:
  • November 2024: Plan of operations accepted by USFS.
  • July 2025: Memorandum of understanding executed with USFS.
  • Q3-Q4 2025: Prescoping meetings completed.
  • December 2025: USFS confirmation of scoping start received.
• Proposed Exploration Program (Federal Lands):
  • Up to 17 drill holes (four convertible to cased groundwater monitoring wells).
  • Maximum hole depth: approximately 700 feet.
  • Total surface disturbance: approximately 1.4 acres.
  • Access via existing roads; no new road construction.
  • Project duration: one year, followed by full reclamation.
  • Potential for categorical exclusion under 36 CFR 220.6(e)(8), with elevation to environmental assessment if extraordinary circumstances are identified.
• Project Overview:
  • Chord project comprises approximately 3,640 contiguous acres in the southern Black Hills near Edgemont, S.D.
  • Includes 147 unpatented lode claims (~3,037 acres) and South Dakota State Mineral Lease No. 27CS230448 (~638 acres).
  • Mineralization is sandstone-hosted within the Lakota and Fall River formations in the historic Edgemont uranium district.
  • Located approximately three miles southeast of enCore Energy's Dewey Burdock ISR uranium project.
• Regulatory Review: Technical content reviewed and approved by Carl D. Warren, PE, PG, senior engineer at BRS Inc., a qualified person under National Instrument 43-101.

Notable Quotes

• "This confirmation from the USFS represents meaningful progress... We have systematically completed each step required to reach public scoping and now have clear visibility on the path to a drill permit. Combined with our upcoming state mineral board hearing for Section 36, we expect 2026 to be a defining year for Chord." — Jeremy Poirier, Chief Executive Officer