Nexus Uranium Closes on Seven High-Grade Uranium Targets in America's Most Prolific Breccia Pipe District

Executive Summary

• Nexus Uranium Corp. completed the acquisition of a 100% interest in the Arizona Strip Project, adding seven collapse‑breccia pipe uranium targets in Mohave County, Arizona to its portfolio.
• The transaction was executed via issuance of 2,700,000 Nexus common shares to the Vendor’s shareholders; the shares are subject to a four‑month statutory hold period.
• No royalties or other encumbrances remain on the Project, and Nexus will now compile and review historic exploration data while advancing its own exploration planning for the newly acquired assets.

Key Details

• Project Description: 38 federal BLM lode mining claims covering seven uranium breccia‑pipe targets (SGB, RN, EM, BUS, JD, LJ, ULJ) with historic grades of 0.42%–1.08% U₃O₈.
• Acquisition Structure: Nexus acquired all common shares of the Vendor (the 100% owner of the claims) in exchange for 2,700,000 Nexus common shares; no cash consideration was paid.
• Hold Period: Issued shares are subject to a four‑month hold period per Canadian securities law.
• Royalty Status: No royalty interest retained by Vendor’s shareholders; the Project is free of underlying royalties.
• Historical Work: Prior exploration (2006‑2008) by Tournigan Energy Ltd. included CSAMT, seismic reflection, ground magnetics, surface geochemical sampling, and drilling on all seven targets; only the EM target has a historic drill‑confirmed collapse pipe structure.
• Qualified Person Review: Technical content reviewed and approved by Warren D. Robb, P.Geo., Director of Nexus and Qualified Person under NI 43‑101 (not independent).
• Forward‑Looking Statements: Company expects to compile historic data, conduct further exploration planning, and leverage the Project’s optionality alongside its existing resource‑stage Chord Project in South Dakota.

Notable Quotes

“Closing this transaction marks a meaningful milestone in Nexus's strategy of building a diversified uranium portfolio across established US districts,” – Jeremy Poirier, CEO, Nexus Uranium Corp.