Mr. Jeremy Poirier reports

NEXUS ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Nexus Uranium Corp. has completed its previously announced private placement of 2.4 million units at a price of 50 cents per unit to raise gross proceeds of $1.2-million.

Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable to acquire one additional common share until April 30, 2026, at an exercise price of 60 cents. The units (including the underlying common shares and warrants) were issued pursuant to the listed issuer financing exemption contained in Part 5A of National Instrument 45-106 (Prospectus Exemptions) and, accordingly, are not subject to a statutory four-month hold period.

In connection with the private placement, the company paid an aggregate of $61,600 and issued an aggregate of 130,200 warrants to certain finders. The warrants issued to the finders were not issued pursuant to the LIFE financing exemption and, accordingly, are subject to a statutory four-month hold period.

The company plans to use the net proceeds of the private placement to finance payments due under its existing option agreements and landholding obligations, to complete exploration work, and for general corporate purposes and working capital.

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 metal portfolio that includes the development-stage Independence mine, located adjacent to Nevada Gold Mines' Phoenix-Fortitude mine in Nevada, the Napoleon gold project in British Columbia and a package of gold claims in the 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 2021 preliminary economic assessment 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 (U.S.) per ounce of gold. The Napoleon project comprises over 1,000 hectares and is 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 with historical grab sampling highlights of 144 g/t gold.

Nexus Uranium cautions investors the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. The company further cautions investors mineral resources which are not mineral reserves do not have demonstrated economic viability, and further cautions investors the quantity and grade of the reported inferred mineral resources are uncertain in nature, and there has been insufficient exploration to define these inferred mineral resources as indicated mineral resources.

The company cautions investors it has yet to verify the historical data, and further cautions investors grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.

We seek Safe Harbor.