Nexus Uranium Comments on Recent Uranium Market Developments

Rhea-AI Summary

Nexus Uranium Corp provides an update on significant uranium market developments that strengthen the sector's fundamentals. Key highlights include Trump's Executive Order aimed at revitalizing the U.S. nuclear sector, targeting an expansion from 100 GW to 400 GW by 2050 and establishing a 20-ton nuclear fuel bank. The uranium spot price has recovered from US$62/lb to US$72/lb. NuScale Power achieved a milestone by receiving NRC certification for its 77 MW small modular reactor, marking the first SMR design approval in the U.S. The update also highlights growing AI-driven power demand, exemplified by Meta's 20-year power supply agreement with Constellation Energy, following similar moves by Google and Amazon. The company mentions pending geochemical assay results from its Winter 2025 drill program at the Cree East project in the Athabasca Basin.

Positive

• Trump's Executive Order aims to expand U.S. nuclear capacity from 100 GW to 400 GW by 2050
• Uranium spot prices recovered from US$62/lb to US$72/lb
• NuScale Power received first-ever NRC certification for its 77 MW SMR design
• Growing tech sector demand for nuclear power with Meta signing 20-year power supply agreement

Negative

• Limited domestic uranium supply capacity in the U.S.
• Uncertainty regarding future levies on uranium imports from Canada and Kazakhstan

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) ("Nexus" or the "Company") is pleased to provide an update on recent uranium market developments which positively impact the underlying fundamentals for uranium exploration, development and production. Recent market developments include the US Executive Order, spot market update, Small Modular Reactor (SMR) developments, and continued AI-driven power supply agreements, all of which have resulted in an overall improvement in the underlying uranium supply-demand fundamentals. Additionally, the Company is still awaiting pending geochemical assay results from the Winter 2025 drill program at its flagship Cree East project in the Athabasca Basin.

Notable Uranium Market Developments:

• US Executive Order: Trump's Executive Order aims to revitalize the U.S. nuclear sector and restore domestic control over the uranium fuel cycle, establishing a national energy policy, accelerating reactor deployment, and rebuilds domestic fuel supply infrastructure.
• Strengthening Spot Price: Uranium spot prices have bounced off of 52-week lows of ~US$62/lb, rebounding to ~US$72/lb, on the back of improving sentiment and resumed utility activity.
• SMR Announcements: NuScale Power secured U.S. Nuclear Regulatory Commission (NRC) approval for its 77 MW reactor, making it the first reactor to earn NRC certification.
• AI-Driven Power Demand: Meta's recent 20-year supply deal continues the flurry of announcements from the likes of Google and Amazon.

"The supply-demand fundamentals for uranium and clean, high-efficiency, scalable nuclear power remain as robust as ever," commented Jeremy Poirier, CEO of Nexus Uranium. "The US pronouncements and NRC's first SMR certification paves the way for significant expansion of nuclear development within the United States and ultimately for Canadian uranium explorers and developers given the reliance given the significant supply deficit for domestic production. Additionally, surging demand for AI and cloud computing puts increasingly greater requirements for clean, efficient, baseload power supply as evidenced by a string of tech-nuclear partnerships including the recent partnership between Meta and Constellation Energy."

US Executive Order

President Trump signed four executive orders (EOs) on May 23, 2025, intended to significantly boost U.S. deployment of advanced nuclear technologies through directives such as expediting regulatory review processes, promoting nuclear energy exports, and reforming the Nuclear Regulatory Commission. These included provisions for deployment at military installations, prioritizing the development of data centres, building a fuel bank of at least 20 tons of nuclear fuel, promoting nuclear exports, expanding capacity from 100 GW in 2024 to 400 GW by 2050, expediting timelines for project review and approval, and strengthening all aspects of the domestic supply chain.

Spot Pricing Update

Uranium futures rose to $71.9 per pound in early June, hovering near its highest level in over three months, and extending the rebound from eighteen-month lows in March as the possibility of political support for the nuclear sector outweighed the view of ample supply. Additionally, lack of clarity on future levies on uranium imports from Canada and Kazakhstan maintained the stress on the limited domestic capacity.

SMR Developments

NuScale Power has won design approval from the U.S. Nuclear Regulatory Commission (NRC) for its upgraded 77 megawatt-electric (MWe) small modular reactor (SMR), marking a key moment for the U.S. nuclear energy industry. This marks the first SMR design to earn NRC certification. Overall, SMR's allow for expedited development with scalable power with the footprint of a comparably sized conventional reactor. This announcement boosts the push for reliable, low-carbon energy as demand for cleaner electricity grows.

AI-Driven Power Demand

Facebook parent, Meta Platforms Inc., signed a 20-year power supply deal with Constellation Energy to help meet surging demand for artificial intelligence and other computing needs. This announcement is the latest in a string of tech-nuclear partnerships, driven by the expansion of AI, which includes Amazon, Google and Microsoft both investing in small modular reactors and long-term power supply agreements to power their fast-growing artificial intelligence platforms.

About Nexus Uranium Corp.

Nexus Uranium Corp. is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin in addition to its precious metals portfolio that includes the Napoleon gold project in British Columbia and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over $20 million in exploration to date. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization..

The technical content of this news release has been reviewed and approved by Warren D. Robb, P.Geo. (BC), a Director and VP Exploration of Nexus Uranium Corp. and a Qualified Person under National Instrument 43-101.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier
Chief Executive Officer
info@nexusuranium.com

This news release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, any planned exploration at the Cree East Project. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the Company will be successful in finalizing its planned drill program, including retaining a contractor to complete such program. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to: the risk that the conditions to closing of the proposed sale of the Company's interest in the Independence Project will not be satisfied and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254478

FAQ

What are the key points of Trump's 2025 Executive Order for the uranium sector?

The Executive Order aims to expand U.S. nuclear capacity from 100 GW to 400 GW by 2050, establish a 20-ton nuclear fuel bank, expedite regulatory reviews, promote nuclear exports, and strengthen domestic supply chain.

What is the current uranium spot price in 2025?

The uranium spot price has rebounded to approximately US$72/lb from 52-week lows of US$62/lb.

What is significant about NuScale Power's recent NRC certification?

NuScale Power received the first-ever U.S. Nuclear Regulatory Commission certification for a small modular reactor (SMR) design, rated at 77 MW.

How is AI development affecting uranium demand?

AI development is driving increased demand for nuclear power, with tech giants like Meta, Amazon, and Google securing long-term power supply agreements and investing in SMRs to support their AI platforms.

What is the status of GIDMF's Cree East project?

Nexus Uranium is currently awaiting pending geochemical assay results from their Winter 2025 drill program at the Cree East project in the Athabasca Basin.