Nexus Uranium closes Basin Uranium acquisition

Mr. Jeremy Poirier of Nexus Uranium reports NEXUS URANIUM AND BASIN URANIUM COMPLETE ARRANGEMENT TRANSACTION Nexus Uranium Corp. has completed the acquisition of all the issued and outstanding common shares of Basin Uranium Corp. as previously announced on June 26, 2025. Under the terms of the court-approved plan of arrangement under the Business Corporations Act (British Columbia), 29,999,982 common shares of Nexus are being issued to former Basin shareholders, representing approximately 1.1 Nexus shares for each Basin share. Each outstanding stock option to acquire Basin shares was exchanged for a stock option to acquire Nexus shares, in amounts and at exercise prices adjusted in accordance with the exchange ratio. Further, each outstanding warrant to acquire Basin shares will entitle the holder thereof to receive, upon the exercise thereof, approximately 1.1 of a Nexus share at a price adjusted in accordance with the exchange ratio, and otherwise on the same terms and conditions of the original warrant. The arrangement was approved by Basin shareholders at an annual general and special meeting held on Sept. 4, 2025. On Sept. 9, 2025, the Supreme Court of British Columbia issued the final order to approve the arrangement. For additional details regarding the arrangement, see Basin's management information circular dated Aug. 1, 2025, a copy of which can be found under Basin's profile on SEDAR+. In connection with the arrangement, Michael Blady, chief executive officer of Basin, has been appointed to the board of directors of Nexus. Arrangement highlights: North American-focused exploration and development company with a portfolio of six uranium projects, including the Cree East and Mann Lake projects located in the high-grade Athabasca basin of Saskatchewan, and four potentially in situ recovery amenable U.S. projects underscored by the resource-stage Chord uranium project in South Dakota; Improved access to capital, stronger balance sheet and improved liquidity with a more diversified shareholder base and enhanced market capitalization; Benefits from recent North American uranium market developments including U.S. federal government initiatives to boost U.S. and N.A. uranium production, increased SMR certifications and deployments, and power demand, which has corresponded with the strengthening of both short- and long-term uranium spot prices. Jeremy Poirier, chief executive officer of Nexus, commented: "Completing the arrangement brings our teams and capital together under a U.S.-centric uranium platform anchored by the resource-stage Chord project in South Dakota. With a broader shareholder base and stronger balance sheet, we're focused on advancing priority U.S. work programs and delivering disciplined, value-accretive milestones." Mike Blady, chief executive officer, Basin Uranium (now director, Nexus Uranium), further added: "This transaction gives Basin shareholders ownership in a larger, more liquid vehicle while preserving additional upside through the Blade spinout. I look forward to supporting Nexus at the board level as we progress the combined U.S. portfolio in a constructive uranium market." Following the arrangement, former Basin shareholders hold approximately 41 per cent of the issued and outstanding Nexus shares. The Basin shares will be delisted from the Canadian Securities Exchange, effective Sept. 16, 2025, and Basin will apply to the relevant Canadian securities regulatory authorities to cease to be a reporting issuer under applicable Canadian securities laws. Spinout and Blade Resources Inc. In addition, as part of the arrangement, Basin shareholders received three million common shares (SpinCo shares) of a subsidiary of Basin, Blade Resources, on the basis of approximately 0.11 of a SpinCo share for every Basin share held. In exchange for the SpinCo shares, Basin transferred its option to acquire an up-to-60-per-cent interest in the carbonate-hosted gold project, a gold project located in Southern British Columbia, to Blade. Blade also issued two million SpinCo shares to Nexus in exchange for Nexus's transfer of: (i) the Napoleon gold project, composed of 1,281 hectares in the Kamloops mining division in British Columbia; and (ii) a 100-per-cent interest in the Yukon gold mining quartz mining claims, to Blade. Blade became a reporting issuer in British Columbia, Alberta and Ontario as a result of the arrangement. Blade intends to list the SpinCo shares on a Canadian stock exchange in the near future. Letter of transmittal Registered Basin shareholders should send their completed and executed letters of transmittal and their Basin share certificates to the depository, Endeavor Trust Corp., as soon as possible to receive the consideration, being the Nexus shares and SpinCo shares to which they are entitled under the arrangement. Non-registered Basin shareholders who hold shares through a broker or another intermediary should follow the instructions provided to them by their broker or such other intermediary. A copy of the letter of transmittal is available on SEDAR+ under Basin's profile. About Nexus Uranium Corp. Nexus Uranium is a multicommodity development company focused on advancing the Cree East uranium project in the Athabasca basin in addition to its precious metal portfolio that includes the Napoleon gold project in British Columbia and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over $20-million in exploration to date. The Napoleon project comprises over 1,280 hectares prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are composed of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization. About Basin Uranium Corp. Basin is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has five advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon projects in South Dakota, the South Pass and Great Divide basin projects in Wyoming, and the Wray Mesa project in Utah. All five projects have seen extensive historical exploration and are located in prospective development areas. The company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia. We seek Safe Harbor.