Vancouver, British Columbia--(Newsfile Corp. - April 1, 2026) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: NEXUF) (FSE: JA7) ("Nexus" or the "Company") is pleased to announce the closing of its previously announced acquisition of a 100% interest in the Arizona Strip Project (the "Project"), comprising 38 federal Bureau of Land Management ("BLM") lode mining claims covering seven collapse breccia pipe uranium targets in Mohave County, Arizona (see news release dated March 19, 2026 for additional details).

"Closing this transaction marks a meaningful milestone in Nexus's strategy of building a diversified uranium portfolio across established US districts," said Jeremy Poirier, Chief Executive Officer of Nexus Uranium Corp. "The Arizona Strip has a historic track record of high-grade breccia pipe production that stands apart from virtually any uranium district in North America. With the acquisition now complete, we are focused on compiling and reviewing the historic exploration data across all seven targets and advancing our exploration planning — adding compelling optionality to our portfolio alongside the resource-stage Chord Project in South Dakota."

About the Arizona Strip Project

The Arizona Strip Project comprises 38 federal BLM lode mining claims covering seven collapse breccia pipe uranium targets in Mohave County, Arizona. The Arizona Strip is one of the most prolific uranium districts in the United States, with historic breccia pipe mines producing uranium at grades typically ranging from 0.42% to 1.08% U₃O₈ — among the highest-grade uranium deposits mined in North America (U.S. Geological Survey, 2009). The Project was previously explored by Tournigan Energy Ltd. from 2006 to 2008, with programs including ground geophysical surveys (CSAMT, seismic reflection, and ground magnetics), surface geochemical sampling, and drilling across all seven targets. The seven targets — SGB, RN, EM, BUS, JD, LJ, and ULJ — host uranium, copper, silver, arsenic, and multi-element pathfinder anomalies consistent with collapse breccia pipe systems. The EM target is the only drill-confirmed target on the Project, with a historic drill hole intersecting breccia at depth and confirming a collapse pipe structure.

Transaction Highlights

Pursuant to a share purchase agreement between Nexus, an arm's length company (the "Vendor") and the Vendor's shareholders, Nexus acquired full ownership of the Project by acquiring all of the common shares of the Vendor, which owns a 100% undivided interest in 38 BLM federal lode mining claims comprising the Project, in consideration of the issuance of 2,700,000 common shares of Nexus to the Vendor's shareholders. No royalty interest of any kind has been retained by the Vendor's shareholders, and no underlying royalty encumbers the Project. The issued shares are subject to a statutory four month hold period from the date of issuance in accordance with applicable Canadian securities laws.

Figure 1: Arizona Strip Project Map

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Qualified Person and Technical Disclosure

The technical content of this news release has been reviewed and approved by Warren D. Robb, P.Geo. (BC), a Director of Nexus Uranium Corp. and a Qualified Person as defined under National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mr. Robb is not independent of the Company. Mr. Robb has not conducted a site visit to the Arizona Strip Project. This news release contains data that is historical in nature. The historic geochemical and geophysical data disclosed herein was not collected or generated by the Company or the Vendor and has not been independently reviewed or verified by the Company; the Company is in the process of compiling and reviewing all historic exploration records. This data is disclosed for background purposes only. Referenced historic deposits and mines and operations in the Arizona Strip provide geologic context for the Project but are not necessarily indicative that they host similar potential, size or grades of mineralization. No mineral resource or mineral reserve has been defined on the Project and there is no assurance that further work will result in a mineral resource classification.

About Nexus Uranium Corp.

Nexus is focused on meeting growing domestic uranium demand driven by the nuclear energy renaissance and the AI-powered data center buildout. Nexus Uranium Corp. is a uranium exploration company advancing a portfolio of uranium projects in the United States and Canada. In the United States, the Company holds the resource-stage Chord Project in Fall River County, South Dakota, the Wolf Canyon, Deadhorse, and RC projects in South Dakota, the South Pass and Great Divide Basin projects in Wyoming, and the Arizona Strip Project, comprising 38 BLM lode mining claims covering seven collapse breccia pipe uranium targets in Mohave County, Arizona. In Canada, Nexus holds the Mann Lake project in Saskatchewan's Athabasca Basin. For more information, visit www.nexusuranium.com.

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This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Company’s securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Forward-Looking Statements

Certain information contained in this news release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking statements in this release include, without limitation: statements regarding Nexus's strategy of building a diversified portfolio of uranium assets across established US districts; statements regarding the Company compiling and reviewing historic exploration data across the Arizona Strip Project targets; statements regarding the Company's exploration planning and anticipated next steps on the Project; and statements regarding the potential significance and optionality of the Arizona Strip Project within the Company's portfolio.

Forward-looking statements reflect the Company's current beliefs and are based on assumptions and information currently available to the Company, including: that no material regulatory impediment will prevent or delay exploration activities on the Project claims; that historic exploration data reviewed by the Qualified Person is materially accurate for the purposes disclosed herein; and that the Company will have sufficient capital resources to advance its planned programs.

Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied, including: risks inherent in mineral exploration and the inability to define mineral resources or reserves; regulatory and permitting risks; commodity price volatility; changes in applicable laws and regulations; and other risk factors discussed in the Company's continuous disclosure documents filed on SEDAR+ (www.sedarplus.ca). The Company does not undertake any obligation to update forward-looking statements, except as required by applicable law.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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