Mr. Jeremy Poirier reports

NEXUS EXECUTES AGREEMENT TO ACQUIRE 100% INTEREST IN CHORD URANIUM PROJECT

Nexus Uranium Corp. has executed a mineral property purchase agreement to immediately acquire a 100-per-cent interest in the Chord uranium project, located in Fall River county, South Dakota. The agreement replaces a previous option agreement and will provide Nexus with full ownership of the Chord property, including State Section 36, currently being permitted. In total, the Chord property now consists of 3,640 wholly owned acres.

Strategic rationale

The Chord property consolidates Nexus's land position in Fall River county, which lies within the southern Black Hills uranium district. The district has a history of uranium production and hosts geology favourable for sandstone-hosted uranium mineralization. The Chord property alone contains total inferred mineral resources of 2.75 Mlb (million pounds) U3O8 (triuranium octoxide); at an average grade of 810 ppm (parts per million) over an average thickness of 8.5 feet (Chord uranium project National Instrument 43-101, updated September, 2025, prepared by BRS Inc.), with significant exploration upside potential. The company aims to demonstrate the extension of mineralization south of the known October-Jinx mineralization onto the State Section 36 and evaluate the potential for in-situ recovery (ISR) with an upcoming exploration and drilling program anticipated to commence in early 2026 pending permitting.

"This acquisition represents an important step in consolidating our South Dakota uranium portfolio," said Jeremy Poirier, chief executive officer of Nexus Uranium. "With uranium recently designated as a critical mineral by the U.S. government, we believe domestic uranium projects in established mining jurisdictions will play an increasingly important role in meeting America's energy security needs."

The Chord property acquisition follows the company's September, 2025, completion of its arrangement with Basin Uranium Corp., through which Nexus acquired Basin's existing uranium project portfolio.

Transaction highlights

Under the terms of the agreement, Nexus agreed to acquire a 100-per-cent interest in the Chord property by paying aggregate consideration of $100,000 (U.S.) cash and issuing 250,000 common shares to the vendors upon closing. The vendors will 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 transaction is subject to acceptance by the Canadian Securities Exchange. Closing is expected to occur within two business days following exchange acceptance. Any shares issued pursuant to the agreement will be subject to a statutory hold period of four months.

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.

The technical content of this news release has been reviewed and approved by Carl D. Warren, PE, PG, Senior Engineer BRS Inc., a qualified person under National Instrument 43-101.

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