Nexus Uranium enters deal to acquire Chord project

Executive Summary

• Nexus Uranium Corp. has executed an agreement to acquire a 100% interest in the Chord uranium project in Fall River County, South Dakota, consolidating its land position in the southern Black Hills uranium district.
• The acquisition replaces a previous option agreement and includes State Section 36, bringing the total owned acreage to 3,640 acres.
• The property contains inferred mineral resources of 2.75 million pounds U3O8 at an average grade of 810 ppm, with an exploration and drilling program planned for early 2026 pending permitting.

Key Details

• Transaction Structure: Nexus acquires 100% interest in the Chord property.
• Consideration: Aggregate consideration of $100,000 (USD) in cash and the issuance of 250,000 common shares to vendors upon closing.
• Royalty Terms: Vendors retain a 1.0% Net Smelter Returns (NSR) royalty. Nexus holds the right to repurchase 50% of this royalty (0.5% NSR) for $1,000,000 (USD) at any time prior to the commencement of commercial production.
• Regulatory Conditions: Transaction is subject to acceptance by the Canadian Securities Exchange (CSE). Closing is expected within two business days following CSE acceptance.
• Share Restrictions: Any shares issued are subject to a statutory hold period of four months.
• Property Details:
  • Location: Fall River County, South Dakota (Southern Black Hills uranium district).
  • Total Acreage: 3,640 wholly owned acres.
  • Includes: State Section 36 (currently being permitted).
• Resource Data:
  • Total Inferred Mineral Resources: 2.75 million pounds U3O8.
  • Average Grade: 810 ppm.
  • Average Thickness: 8.5 feet.
  • Source: National Instrument 43-101 report updated September 2025, prepared by BRS Inc.
• Future Plans: Exploration and drilling program anticipated to commence in early 2026 to demonstrate extension of mineralization south of known October-Jinx mineralization and evaluate potential for in-situ recovery (ISR).
• Context: This acquisition follows the completion of Nexus's arrangement with Basin Uranium Corp. in September 2025, through which Nexus acquired Basin's existing uranium project portfolio.

Notable Quotes

• "This acquisition represents an important step in consolidating our South Dakota uranium portfolio," said Jeremy Poirier, chief executive officer of Nexus Uranium. "With uranium recently designated as a critical mineral by the U.S. government, we believe domestic uranium projects in established mining jurisdictions will play an increasingly important role in meeting America's energy security needs."