Nexus Uranium talks permitting progress at Chord

Executive Summary

• Nexus Uranium Corp. provided a significant update on the permitting status of its Chord uranium project in South Dakota, outlining two parallel regulatory pathways: state-level permitting for Section 36 and federal-level permitting for the Jinx area under the U.S. Forest Service (USFS).
• The state permitting process for Section 36 is advancing toward a Board of Minerals and Environment hearing scheduled for Q1 2026, following the completion of completeness reviews and public notices.
• The federal NEPA process for the Jinx area is progressing with a signed Memorandum of Understanding (MOU) with the USFS, with public scoping expected to begin in October 2025. The proposed program includes up to 17 drill holes with minimal surface disturbance.

Key Details

• State Permitting (Section 36):
  • Application submitted via Exploration Notice of Intent (EXNI) to the South Dakota Department of Agriculture & Natural Resources (DANR).
  • Completeness determination received in April 2025; affidavit published and site inspection completed on May 14, 2025.
  • Board of Minerals and Environment hearing is currently scheduled for early Q1 2026 (previously postponed from August).
  • If approved, state authorization will be issued subject to conditions, bonding, and appeal periods.
• Federal Permitting (USFS - Jinx Area):
  • Plan of Operations accepted by USFS on November 27, 2024.
  • Memorandum of Understanding (MOU) executed on July 15, 2025, to guide the National Environmental Policy Act (NEPA) review.
  • Public scoping for the federal process is expected to begin in October 2025.
  • Proposed drilling program details:
    • Up to 17 drill holes.
    • Four holes 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 completion within one year with full reclamation.
  • USFS indicated the project may be reviewed under categorical exclusion (36 CFR 220.6(e)(8)), with elevation to an environmental assessment only if extraordinary circumstances are identified.
• Project Overview:
  • Chord project comprises ~3,640 contiguous acres in the southern Black Hills near Edgemont, SD.
  • 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.
  • Located ~3 miles southeast of enCore Energy’s Dewey Burdock ISR uranium project.
• Regulatory Context (enCore Energy):
  • enCore Energy disclosed on Sept 16, 2025, that the EPA’s environmental appeals board denied a petition challenging the Dewey Burdock project’s Class III and Class V underground injection control permits.
  • enCore’s project was included in the federal FAST-41 program on Aug 28, 2025.
  • Nexus notes that Dewey Burdock’s progress provides regulatory context and potential regional synergies (agency familiarity, skilled workforce, shared infrastructure).
• Corporate Updates:
  • Nexus completed its plan of arrangement to acquire Basin Uranium Corp. on Sept 16, 2025.
  • An updated National Instrument 43-101 technical report for the Chord project (updated to Sept 19, 2025) has been filed.
  • The Cree East project in Saskatchewan has reverted to the vendor, CanAlaska Uranium Ltd.

Notable Quotes

• "Our focus is having permitting on Section 36 completed in Q1 while advancing the federal NEPA review under the USFS MOU," said Jeremy Poirier, chief executive officer. "We are co-ordinating the two processes so that, if approvals are granted, we can efficiently execute a low-disturbance high-value first-pass drill program."