Nexus Uranium Closes Acquisition of 100% Interest in Chord Uranium Project Ahead of March Permit Hearing

Executive Summary

• Nexus Uranium Corp. completed the acquisition of 100% ownership of the 3,640‑acre Chord uranium property in Fall River County, South Dakota for US$100,000 cash plus 250,000 common shares.
• The vendors retained a 1.0 % NSR royalty, with Nexus holding an option to repurchase half (0.5 % NSR) for US$1 million before commercial production begins.
• Full ownership removes previous encumbrances and positions Nexus to advance exploration drilling and evaluate ISR potential, supporting its hub‑and‑spoke strategy across a now 6,380‑acre South Dakota uranium portfolio.

Key Details

• Consideration: US$100,000 cash + issuance of 250,000 common shares (subject to statutory hold period of four months + one day).
• Royalty Terms: Vendors retain 1.0 % NSR; Nexus may repurchase 0.5 % NSR for US$1 million prior to commercial production.
• Property Size & Location: Chord Property – ~3,640 contiguous acres in historic Edgemont uranium district, ~3 mi SE of enCore Energy’s Dewey Burdock ISR project.
• Permitting Status:
• Federal: U.S. Forest Service NEPA scoping began mid‑January 2026.
• State: South Dakota Board of Minerals and Environment public hearing scheduled March 18‑20 2026 (final step for exploration permit).
• Strategic Context: Acquisition replaces prior option agreement, consolidating ownership of Nexus’s flagship project; satellite claims (Wolf Canyon, Deadhorse, RC) total ~2,740 acres, creating a hub‑and‑spoke framework.
• Total South Dakota Holdings: Approximately 6,380 acres after inclusion of Chord and recent acquisitions.
• Management Quote: CEO Jeremy Poirier emphasized the milestone for consolidating ownership and advancing permitting and drilling programs.

Notable Quotes

“Closing this acquisition marks an important milestone as we consolidate ownership of our flagship Chord project… Full ownership of Chord positions us to advance exploration and evaluate ISR potential without encumbrance as we work toward a permitted drilling program.” – Jeremy Poirier, CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.