Nexus Uranium to sell Wray Mesa for $105,000 (U.S.)

Executive Summary

• Nexus Uranium Corp. has entered into a definitive agreement to sell its 100% interest in the Wray Mesa uranium project in Utah to a private company.
• The transaction provides immediate, non-dilutive capital of $105,000 (U.S.) to Nexus Uranium.
• The sale allows the company to concentrate resources on advancing its Chord project in South Dakota, specifically toward commencement of drilling operations.

Key Details

• Transaction Structure: Sale of 100% interest in the Wray Mesa uranium project.
• Buyer: A private company (name not disclosed).
• Consideration: Total cash consideration of $105,000 (U.S.).
• Payment Terms: Nexus will receive the $105,000 in cash upon closing.
• Existing Encumbrances: The property is subject to an existing 1.25% net return royalty held by a third party.
• Closing Date: Expected on or before December 31, 2025.
• Conditions Precedent: Subject to customary closing conditions, applicable regulatory approvals, and approval of the Canadian Securities Exchange.
• Strategic Rationale: Proceeds provide non-dilutive capital; allows Nexus to focus on flagship assets (Chord and Great Divide projects) rather than diverting resources across multiple jurisdictions.

Notable Quotes

• "This transaction delivers immediate, non-dilutive capital to our shareholders while allowing us to sharpen our focus on the Chord project in South Dakota and our Great Divide project in South Dakota. Rather than diverting resources across multiple jurisdictions, we are concentrating on our flagship assets as we advance toward drilling." — Jeremy Poirier, Chief Executive Officer