Mr. Jeremy Poirier reports

NEXU NR - LIFE FINANCING REPRICING - APRIL 9, 2024

Nexus Uranium Corp. is repricing its previously announced offering of units.

Under the original terms of the offering, the company was proposing to issue a minimum of 1,333,333 units at a price of 60 cents and a maximum of two million units at a price of 60 cents per unit. Under the revised terms of the offering, the company will issue a minimum of 1.6 million units and a maximum of 2.4 million units at a price of 50 cents per unit. The minimum gross proceeds ($800,000) and maximum gross proceeds ($1.2-million) remains unchanged. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company for a period of 24 months following the closing date of the offering at an exercise price of 60 cents per warrant share.

The offering is structured to take advantage of the listed issuer financing exemption whereby the securities of the company issued pursuant to the offering will be freely tradeable equity securities not subject to a hold period (see below).

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions), the offering is being made to purchasers resident in each of the provinces of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities offered under the exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an amended and restated offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision. Upon closing of the offering, the company may pay to certain eligible finders a cash finders' fee of up to 7.0 per cent of the aggregate gross proceeds of the offering. The company may also issue to such finders non-transferrable warrants of the company exercisable at any time prior to the date that is 24 months from the closing date to acquire that number of common shares equal to 7.0 per cent of the number of units issued under the offering, at an exercise price of 60 cents. The company plans to use the net proceeds of the offering to fund payments due under its existing option agreements and land holding obligations, to complete exploration work and for general corporate purposes and working capital. The offering is scheduled to close on or about April 25, 2024, and completion of the offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

About Nexus Uranium Corp.

Nexus Uranium is a multicommodity development company focused on advancing the Cree East uranium project in the Athabasca basin and the Wray Mesa uranium-vanadium project in Utah in addition to its precious metals portfolio that includes the development-stage Independence mine located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia and a package of gold claims in Yukon. The Wray Mesa project covers 6,282 acres within the heart of the prolific Uruvan mining district in Utah and has extensive historical drilling of over 500 holes defining multiple mineralized zones. The Independence project hosts an M&I (measured and indicated) resource of 334,300 ounces of gold (28 million tonnes at 0.41 gram per tonne gold) and an inferred resource of 847,000 ounces (nine million tonnes at 3.22 g/t gold) of gold with a substantial silver credit. A 2022 preliminary economic assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of $1,078 per ounce of gold. The Napoleon project comprises over 1,000 hectares and 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 comprise almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization with historical grab sampling highlights of 144 g/t gold.

We seek Safe Harbor.