Mr. Jeremy Poirier reports

NEXUS URANIUM CLOSES FULLY SUBSCRIBED PRIVATE PLACEMENT OF UNITS

Nexus Uranium Corp. has closed its previously announced non-brokered private placement offering by issuing 3.64 million units at a price of 25 cents per unit for aggregate gross proceeds of $910,000.

Each unit consists of one common share in the capital of the company and one transferable common share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of 55 cents until Oct. 31, 2027. The warrants will be restricted from exercise until Dec. 31, 2025, being the 61st day following the closing of the offering.

In connection with the offering, the company issued 212,800 finders' warrants. The finders' warrants are exercisable into common shares at 55 cents per share until Oct. 31, 2027.

The company intends to use the proceeds from the offering for permitting, South Dakota relations, drilling bonds, marketing and investor relations, working capital, and general corporate purposes.

The units were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions. Pursuant to NI 45-106, the securities comprising the units issued to Canadian residents under the offering are not subject to resale restrictions. The company is relying on the exemptions in Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, and is qualified to distribute securities in reliance on the exemptions included in the order.

The company also announces that it has added deferred shared units (DSUs) as a category of awards that may be granted pursuant to its 2023 omnibus equity incentive compensation plan, and an aggregate of 285,000 DSUs have been granted to directors and officers of the company. The DSUs will vest over a 12-month period, with 25 per cent vesting every three months after the date of grant.

About Nexus Uranium Corp.

Nexus Uranium is a Canadian uranium exploration company focused on mineral exploration and development in the green energy sector. The company holds five uranium projects in the United States: Chord and Wolf Canyon in South Dakota; South Pass and Great Divide basin in Wyoming; and Wray Mesa in Utah. These projects have seen extensive historical exploration and are located in prospective development areas. Nexus also holds the Mann Lake uranium project in the Athabasca basin of Northern Saskatchewan, Canada.

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