Mr. Jeremy Poirier reports

NEXUS URANIUM CLOSES ON SEVEN HIGH-GRADE URANIUM TARGETS IN AMERICA'S MOST PROLIFIC BRECCIA PIPE DISTRICT

Nexus Uranium Corp. has closed its previously announced acquisition of a 100-per-cent interest in the Arizona Strip 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 U.S. districts," said Jeremy Poirier, chief executive officer of Nexus Uranium. "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 per cent to 1.08 per cent U3O8 (triuranium octoxide) -- among the highest-grade uranium deposits mined in North America (United States 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 multielement 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-per-cent undivided interest in 38 BLM federal lode mining claims comprising the project, in consideration of the issuance of 2.7 million 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.

Qualified person and technical disclosure

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 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 artificial-intelligence-powered data centre buildout. Nexus Uranium 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.

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