Nexus Executes Agreement to Acquire 100% Interest in Chord Uranium Project

Nexus Uranium (OTCQB: GIDMF) executed a purchase agreement to acquire a 100% interest in the Chord uranium project in Fall River County, South Dakota, consolidating a 3,640-acre land package.

Rhea-AI Summary

Nexus Uranium (OTCQB: GIDMF) executed a purchase agreement to acquire a 100% interest in the Chord uranium project in Fall River County, South Dakota, consolidating a 3,640-acre land package.

The Chord Project hosts 2.75 Mlb U3O8 inferred at an average grade of 810 ppm over 8.5 feet (NI 43-101, Sept 2025). Consideration is US$100,000 cash plus 250,000 common shares on closing; vendors retain a 1.0% NSR (Nexus may repurchase 0.5% for US$1,000,000).

An exploration and drilling program targeting ISR potential is planned for early 2026, pending permitting and CSE acceptance of the transaction.

Positive

• Inferred resource of 2.75 Mlb U3O8
• Consolidated 3,640 acres in southern Black Hills district
• Acquisition cost: US$100,000 cash + 250,000 shares

Negative

• Vendors retain 1.0% NSR on future production
• NSR repurchase requires US$1,000,000 to buy 0.5%
• Exploration drilling pending permits and CSE acceptance

Argus Dec 2 session

+0.47% close to close Open Argus

Details

News Market Reaction – GIDMF

On Dec 2, the day this news came out, GIDMF closed 0.47% above the previous close.

Data tracked by StockTitan Argus for the Dec 2 session.

Key Figures

Inferred resource: 2.75 Mlb U3O8 Average grade: 810 ppm U3O8 Average thickness: 8.5 feet +5 more

Inferred resource

2.75 Mlb U3O8

Chord Uranium Project NI 43-101, Sept 2025

Average grade

810 ppm U3O8

Inferred resources at Chord Property

Average thickness

8.5 feet

Mineralized zones at Chord Property

Land package size

3,640 acres

Total wholly owned Chord Property area

Cash consideration

US$100,000

Paid on closing for 100% Chord interest

Share consideration

250,000 common shares

Issued to vendors on closing

NSR royalty

1.0% NSR

Net smelter returns royalty retained by vendors

NSR buyback

US$1,000,000 for 0.5%

Right to repurchase half of NSR before commercial production

Historical Context

5 past events · Latest: Dec 10

5 events

1. Dec 10

   Advisory appointment

   24h Move

   -1.7%

   Veteran permitting expert added to advisory board to support U.S. projects.

2. Dec 08

   Project option deal

   24h Move

   +9.2%

   Option of Great Divide Basin project while retaining carried interest and NSR.

3. Dec 02

   Asset acquisition

   24h Move

   +0.5%

   Agreement to acquire 100% of Chord Project with defined inferred resources.

4. Nov 25

   Industry association

   24h Move

   +0.0%

   Joined South Dakota industry group to support expanding uranium activities.

5. Oct 16

   Share consolidation

   24h Move

   +10.2%

   1-for-10 consolidation reduced outstanding shares to about 7.3 million.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

u3o8, ni 43-101, in-situ recovery (isr), net smelter returns royalty, +2 more

6 terms

u3o8 medical

"contains total inferred mineral resources of 2.75 Mlb U₃O₈ at an average grade"

U3O8 is the chemical name for a stable form of uranium oxide commonly called “yellowcake,” the concentrated powder produced after uranium ore is processed. Investors track U3O8 because it represents the raw material that is turned into nuclear fuel; its supply, demand and price act like a commodity indicator that can move the value of mining companies, utilities and firms tied to the nuclear fuel chain. Think of it as the crude oil equivalent for nuclear power — a basic feedstock whose availability and cost affect an entire industry.

ni 43-101 regulatory

"(Chord Uranium Project NI 43-101, updated September 2025, prepared by BRS Inc.)"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

in-situ recovery (isr) technical

"evaluate the potential for in-situ recovery (ISR) with an upcoming exploration"

In-situ recovery (ISR) is a mining method where a liquid solution is pumped into an underground ore zone to dissolve targeted minerals, which are then pumped back to the surface for processing—think of extracting flavor by running water through a coffee filter left inside the ground. It matters to investors because ISR often lowers upfront costs, speeds up production and reduces surface disruption compared with traditional mining, but it also concentrates environmental and regulatory risks around groundwater management and permitting.

net smelter returns royalty financial

"The vendors will retain a 1.0% net smelter returns royalty (NSR) on future"

A net smelter returns (NSR) royalty is a contractual right to receive a percentage of the revenue generated from mined minerals after the ore has been processed and sold, with common deductions for refining, smelting and transport costs. Think of it like a landlord taking a slice of a tenant’s monthly sales after the tenant pays basic operating bills. Investors care because an NSR affects the future cash flow and valuation of a mining project and shifts some upside and downside risk away from the operator to the royalty holder.

nsr financial

"retail a 1.0% net smelter returns royalty (NSR) on future production"

NSR, or Net Service Revenue, is the total income a company earns from its core services after subtracting any discounts, refunds, or allowances. It reflects the actual money coming in from the main operations, similar to how a store’s sales revenue shows what it gains from selling products, minus returns or discounts. For investors, NSR provides a clearer picture of a company's true earning power from its primary business activities.

statutory hold period regulatory

"Any shares issued pursuant to the Agreement will be subject to a statutory hold period"

A statutory hold period is a legally required time window during which newly issued securities or shares received by insiders cannot be sold. It matters to investors because it affects when those shares can enter the market, influencing supply, short-term liquidity and potential price pressure—think of it like a temporary “no-sell” tag that prevents an immediate flood of items onto a store shelf after a big restock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: JA7) ("Nexus" or the "Company") is pleased to announce it has executed a mineral property purchase agreement (the "Agreement") to immediately acquire a 100% interest in the Chord uranium project (the "Chord Property"), 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 favorable for sandstone-hosted uranium mineralization. The Chord Property alone contains total inferred mineral resources of 2.75 Mlb U₃O₈ at an average grade of 810 ppm over an average thickness of 8.5 feet (Chord Uranium Project NI 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, CEO 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% interest in the Chord Property by paying aggregate consideration of US$100,000 cash and issuing 250,000 common shares to the vendors upon closing. The vendors will retain a 1.0% net smelter returns royalty (NSR) on future production, of which Nexus holds the right to repurchase 50% (being 0.5% NSR) for US$1,000,000 at any time prior to commencement of commercial production.

The transaction is subject to acceptance by the Canadian Securities Exchange (the "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, P.E., P.G. Senior Engineer BRS Inc., a Qualified Person under National Instrument 43-101.

--

FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
(604) 722-9842
info@nexusuranium.com

This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may include statements regarding Nexus acquiring full ownership and a 100% interest in the Chord Property; the Company demonstrating the extension of mineralization, the Company evaluating the potential for in-situ recovery; timing for exploration and the drilling program; domestic uranium projects playing an important role in meeting America's energy security needs; and the closing of the acquisition and timing thereof. Such statements are based on assumptions and factors considered reasonable as of the date they are made, including management's current expectations, exploration plans, geological interpretations, and market conditions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These risks include, but are not limited to: delays in obtaining necessary permits and Exchange approvals, changes in exploration or project plans, the accuracy of historical geological information, the potential that mineralization does not extend as expected, the technical or economical viability of ISR at the Chord Property, availability of capital and financing, regulatory developments, adverse weather or logistical challenges, and risks inherent to the mineral exploration industry, such as changes in uranium markets, commodity prices, or general economic and regulatory conditions. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Nexus undertakes no obligation to update forward-looking statements except as required by law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276433

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Nexus announce about the Chord uranium project on December 2, 2025 (GIDMF)?

Nexus executed an agreement to acquire a 100% interest in the Chord project, consolidating 3,640 acres in South Dakota.

What are the reported resources at Chord and why does it matter for GIDMF?

Chord contains an inferred 2.75 Mlb U3O8 at 810 ppm, a material exploration target for potential ISR development.

What is the purchase price Nexus paid for the Chord project (GIDMF)?

Consideration is US$100,000 cash plus issuance of 250,000 common shares on closing.

Are there royalties or future payments tied to the Chord acquisition for GIDMF shareholders?

Yes, vendors retain a 1.0% NSR; Nexus may repurchase 0.5% for US$1,000,000 before commercial production.

When will Nexus begin exploration and drilling at Chord (GIDMF)?

An exploration and drilling program is anticipated to commence in early 2026, subject to permitting.

Is the Chord acquisition closed and what approvals are required for GIDMF?

Closing is subject to Canadian Securities Exchange acceptance and expected within two business days after acceptance.