Mr. Jeremy Poirier reports

NEXUS URANIUM CLOSES ACQUISITION OF 100% INTEREST IN CHORD URANIUM PROJECT AHEAD OF MARCH PERMIT HEARING

Nexus Uranium Corp. has closed its previously announced acquisition of a 100-per-cent interest in the Chord uranium project, located in Fall River county, South Dakota.

Pursuant to the mineral property purchase agreement dated Dec. 2, 2025, Nexus has acquired full ownership of the Chord property by paying aggregate consideration of $100,000 (U.S.) cash and issuing 250,000 common shares to the vendors. The vendors retain a 1.0-per-cent net smelter returns royalty (NSR) on future production, of which Nexus holds the right to repurchase 50 per cent (being 0.5 per cent NSR) for $1-million (U.S.) at any time prior to commencement of commercial production. The shares issued are subject to a statutory hold period of four months and one day.

The acquisition replaces the company's previous option agreement and provides Nexus with immediate full ownership of the 3,640-acre Chord property, including State Section 36, which is currently being permitted for exploration drilling.

"Closing this acquisition marks an important milestone as we consolidate ownership of our flagship Chord project," said Jeremy Poirier, chief executive officer. "With the mineral board hearing scheduled for March 18 to 20 representing the final step in our state permitting process, and our recent Deadhorse and RC acquisitions adding approximately 1,140 acres to our South Dakota land position, we have built considerable momentum heading into 2026. Full ownership of Chord positions us to advance exploration and evaluate ISR potential without encumbrance as we work toward a permitted drilling program."

About the Chord project

The Chord uranium project comprises approximately 3,640 contiguous acres in Fall River county, South Dakota, in the historic Edgemont uranium district of the broader Black Hills region. The project is located approximately three miles southeast of enCore Energy's Dewey Burdock ISR uranium project.

Chord is advancing through two parallel permitting tracks. On federal lands, the U.S. Forest Service commenced public scoping under the National Environmental Policy Act in mid-January, 2026. On state lands, the South Dakota Board of Minerals and Environment has scheduled a public hearing for March 18 to March 20, 2026, representing the final step in the state permitting process for the company's exploration permit application.

The company is pursuing a hub-and-spoke strategy in the Fall River county uranium district, with Chord serving as the central project. Within 10 miles south-southeast of Chord, Nexus holds the Wolf Canyon (80 claims, approximately 1,600 acres) project and has recently acquired the Deadhorse (17 claims, approximately 340 acres) and RC (40 claims, approximately 800 acres) properties. Should Chord advance to development, the surrounding satellite claims could potentially benefit from shared infrastructure and permitting frameworks established at the hub.

Chord is Nexus's flagship project and forms the core of the company's South Dakota uranium portfolio, which now totals approximately 6,380 acres.

About Nexus Uranium Corp.

Nexus Uranium is a Canadian exploration company focused on uranium projects in North America. In the United States, the company holds the Chord, Wolf Canyon, Deadhorse and RC projects in South Dakota, and the South Pass project in Wyoming. The Great Divide basin project in Wyoming is now under option to Canamera Energy Metals Corp. In Canada, Nexus holds the Mann Lake project in Saskatchewan's Athabasca basin.

The technical content of this news release has been reviewed and approved by Warren D. Robb, PGeo (British Columbia), a director of Nexus Uranium and a qualified person under National Instrument 43-101.

Referenced nearby resources, deposits, projects and mines provide geologic context for the RC, Deadhorse, Wolf Canyon and Chord uranium projects, but are not necessarily indicative that they hosts similar potential, size or grades of mineralization. No mineral resources have been estimated at the RC, Deadhorse or Wolf Canyon uranium projects, and there is no assurance that further work will result in a mineral resource classification. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

We seek Safe Harbor.