Nexus Uranium Corp. Appoints ISR Permitting Expert Mark Hollenbeck to Advisory Board and Announces Chord Project Board of Minerals Hearing for May 2026

The most recent release from April 16, 2026, confirms a Board of Minerals and Environment hearing scheduled for May 18-22, 2026, regarding the Chord Project exploration permit. The company has appointed Mark Hollenbeck, P.E., to its Advisory Board, leveraging his 30 years of ISR uranium permitting experience, specifically noting his background with enCore Energy's Dewey-Burdock project. A maiden drill program is planned for Summer 2026 pending permit approval, utilizing up to 38 reverse circulation holes to a depth of 700 feet. This follows the April 1 closing of an acquisition in Arizona and the March ATM offering announcement. The news serves as a procedural update confirming the regulatory timeline and management expertise ahead of the critical permitting phase.

The news is categorized as Routine - Positive because it represents expected progress on the company's primary catalyst (permitting) rather than a fundamental change in valuation or asset quality. While the hiring of an expert adds credibility to the permitting strategy, the hearing date has been rescheduled from March to April and now May, indicating potential regulatory friction which is already priced into the recent stock decline. The market reaction to previous announcements in January (permitting milestones) drove the price to $2.95, but subsequent dilutive financings in February and March caused a correction to ~$1.00. This update stabilizes the narrative by confirming the drilling timeline remains intact despite the hearing delay. It does not constitute a Game Changer as it lacks new resource data or non-dilutive capital infusions that would significantly alter the risk/reward profile relative to the current price.

Nexus Uranium Corp. is an exploration-stage uranium company focused on developing domestic U.S. supply security through In-Situ Recovery (ISR) projects. The flagship asset is the Chord Project in Fall River County, South Dakota, covering approximately 3,640 acres within the historic Edgemont uranium district. The project hosts inferred resources of 2.75 million pounds of U3O8 at an average grade of 810 ppm. The company has recently expanded its portfolio with acquisitions in Arizona (Arizona Strip Project) and Wyoming (Great Divide Basin), aiming to diversify across established districts while concentrating capital on the Chord project for near-term drilling.