Nexus Uranium Options Great Divide Basin Project to Canamera Energy Metals

Rhea-AI Summary

Nexus Uranium (OTCQB: GIDMF) granted Canamera Energy Metals an option to earn up to a 90% interest in the Great Divide Basin uranium project in Wyoming.

Canamera must complete staged cash, share and exploration commitments over four years: approximately $280,000 cash, $500,000 in Canamera shares and $2.75 million in exploration expenditures, after which Nexus would retain a 10% carried interest and the property remains subject to a 1.25% NSR. The project comprises 104 claims (~2,080 acres) southwest of Jeffrey City in Fremont and Sweetwater counties.

Positive

• Fully funded exploration: $2.75M committed over four years
• Nexus to receive approximately $280,000 cash
• Nexus to receive approximately $500,000 in Canamera shares
• Nexus retains a 10% carried interest if earn-in completes
• Project comprises 104 claims (~2,080 acres) in Wyoming

Negative

• Nexus ownership reduces to 10% if Canamera completes earn-in
• Property subject to a 1.25% NSR reducing future net revenue
• Canamera may stop at any stage, leaving Nexus with smaller interest

Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: JA7) ("Nexus" or the "Company") has entered into an option agreement (the "Option Agreement") with Canamera Energy Metals Corp. (CSE: EMET) ("Canamera") under which Canamera may earn up to a 90% interest in Nexus's Great Divide Basin uranium project in Wyoming.

Under the terms of the Option Agreement, Canamera will fund exploration on the property and make cash and share payments to Nexus over a four-year period. If Canamera completes all earn-in requirements, Nexus will retain a 10% carried interest in the project and receive approximately $280,000 in cash, $500,000 in Canamera shares, and benefit from $2.75 million in exploration expenditures - all without further capital outlay by Nexus.

"This option structure advances Great Divide Basin through a fully funded exploration program while we retain meaningful exposure to the project," said Jeremy Poirier, Chief Executive Officer. "Canamera's exploration commitment should generate the technical data needed to evaluate the property's potential, and Nexus shareholders benefit from that work without dilution."

Option Agreement Terms

Canamera may acquire up to a 90% interest in the Great Divide Basin project through the following earn-in structure:

First Option (51% interest):

• 500,000 Canamera shares issued to Nexus within 5 days of closing;

• $30,000 cash payment within 5 days of closing;

• $100,000 cash payment by the 18-month anniversary;

• $250,000 in exploration expenditures by the 18-month anniversary; and

• An additional $500,000 in exploration expenditures by the second anniversary.

Second Option (additional 20% for 71% total):

• $250,000 in Canamera shares issued to Nexus;

• $75,000 cash payment; and

• $1,000,000 in exploration expenditures, all by the third anniversary.

Third Option (additional 19% for 90% total):

• $250,000 in Canamera shares issued to Nexus;

• $75,000 cash payment; and

• $1,000,000 in exploration expenditures, all by the fourth anniversary.

If Canamera does not complete an option stage, it retains only the interest earned to that point. Following exercise of the applicable options, the parties will form a joint venture to advance the project. The property remains subject to a 1.25% net smelter royalty to Nexus Uranium.

Great Divide Basin Project

The Great Divide Basin project comprises 104 unpatented mining claims (approximately 2,080 acres) located southwest of Jeffrey City and northwest of Wamsutter in Fremont and Sweetwater counties, Wyoming. The project is held through Clean Nuclear Energy Corp., a wholly owned subsidiary of Nexus.

The claims are situated in Wyoming's Great Divide Basin uranium district. Mineralization in the area is hosted in roll-front deposits, and the property has seen historical exploration dating to the 1970s. The project adjoins Premier American Uranium's Cyclone property.

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 and Wolf Canyon projects in South Dakota, the South Pass project in Wyoming, and the Wray Mesa project in Utah. 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. For more information, visit www.nexusuranium.com.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier

Chief Executive Officer

info@nexusuranium.com

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding: Canamera's anticipated exploration activities and expenditures on the Great Divide Basin project; the expected timing and completion of earn-in milestones; the formation of a joint venture following exercise of the options; and Nexus's retained interest in the project.

Forward-looking information is based on assumptions considered reasonable by management at the date of this news release, including that Canamera will have sufficient capital to fund the option payments and exploration expenditures, and that regulatory and other conditions will be satisfied. Actual results may differ materially due to risks and uncertainties including: Canamera's ability to complete the earn-in requirements; changes in market conditions; and risks inherent to mineral exploration.

The Company undertakes no obligation to update forward-looking statements except as required by law.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276995

FAQ

What did Nexus announce about the Great Divide Basin option on December 8, 2025 (GIDMF)?

Nexus granted Canamera an option to earn up to 90% of the Great Divide Basin project via staged cash, shares and $2.75M exploration over four years.

How much cash and shares will Nexus receive under the Canamera option for GIDMF?

If fully completed, Nexus will receive about $280,000 cash and $500,000 in Canamera shares plus exploration funding.

What is Nexus's remaining interest and royalty after the Canamera earn-in (GIDMF)?

If Canamera completes all stages, Nexus retains a 10% carried interest and the project keeps a 1.25% NSR payable to Nexus.

What are the key earn-in milestones and timeline for Canamera on the Nexus project (GIDMF)?

Canamera must meet staged cash, share, and exploration targets across 18 months to four years to earn 51%, 71%, then 90% interests.

How large is the Great Divide Basin project that Canamera may earn (GIDMF)?

The project covers 104 unpatented claims (~2,080 acres) located southwest of Jeffrey City in Fremont and Sweetwater counties, Wyoming.

What happens if Canamera fails to complete an option stage on the Nexus project (GIDMF)?

If Canamera does not complete a stage, it keeps only the interest earned to that point; the parties then form a joint venture if exercised.