Mr. Jeremy Poirier reports

NEXUS URANIUM SUBMITS FAST-41 APPLICATION FOR CHORD PROJECT TO ENHANCE FEDERAL PERMITTING COORDINATION

Nexus Uranium Corp. has submitted a FAST-41 initiation notice to the Federal Permitting Improvement Steering Council for its flagship Chord uranium project in Fall River county, South Dakota.

FAST-41, established under Title 41 of the Fixing America's Surface Transportation Act, is a voluntary federal program that provides enhanced co-ordination, transparency, and accountability for the environmental review and permitting of major infrastructure projects, including mining. Projects covered under FAST-41 receive a dedicated federal project adviser, a comprehensive co-ordinated permitting timetable and tracking on the public federal permitting dashboard.

"Submitting our FAST-41 application represents a significant step forward in our permitting strategy for Chord," said Jeremy Poirier, chief executive officer. "The FAST-41 program is designed to improve interagency co-ordination and provide predictable timelines for complex projects. With USFS public scoping now under way and our state mineral board hearing scheduled for March, we believe this application positions Chord to benefit from the enhanced federal oversight that FAST-41 provides as we advance toward exploration drilling."

About FAST-41

FAST-41 was enacted in December, 2015, and is administered by the permitting council, an independent federal agency composed of representatives from 16 federal departments and agencies including the Department of Energy, Department of the Interior, Department of Agriculture, the Environmental protection Agency and the Nuclear Regulatory Commission.

Mining was added as an eligible sector for FAST-41 coverage in January, 2021. Projects that obtain FAST-41 coverage receive several benefits, including:

• A dedicated infrastructure project adviser who serves as the primary federal contact and facilitator throughout the permitting process;
• A co-ordinated permitting timetable that is publicly posted on the Federal Permitting Dashboard, tracking all required federal environmental reviews and authorizations;
• Enhanced transparency and accountability, with agencies required to consult with the permitting council before modifying established timelines;
• Improved early consultation and coordination among the multiple federal agencies involved in project review.

According to the permitting council, infrastructure projects supported through FAST-41 have achieved a record of decision approximately 18 months faster than those that did not participate in the program, with covered projects completing their environmental review process with an average schedule extension of only 16 per cent of their original timeline.

To be eligible for FAST-41 coverage, a project must fall within an eligible sector (including mining) and meet criteria under one of several pathways. These include projects subject to the National Environmental Policy Act (NEPA) that are likely to require a total investment of more than $200-million (U.S.), or projects of sufficient size and complexity to benefit from enhanced federal co-ordination -- such as those requiring authorization from multiple federal agencies or the preparation of an environmental impact statement. The FAST-41 framework also provides that states may choose to participate in the federal environmental review and authorization process, potentially enabling co-ordination between federal and state permitting timelines. FAST-41 does not change any statutory or regulatory requirement, environmental law, or public involvement procedure, nor does it predetermine the outcome of any federal decision-making process.

Several uranium projects in the United States have obtained FAST-41 coverage, including the Dewey-Burdock ISR uranium project in Fall River and Custer counties, South Dakota, which was granted coverage in August, 2025.

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.

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