Nexus Uranium Closes Fully Subscribed Private Placement of Units

Vancouver, British Columbia--(Newsfile Corp. - October 31, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMD) (FSE: 3H1) ("Nexus"or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement offering (the "Offering") by issuing 3,640,000 units (each a "Unit") at a price of $0.25 per Unit for aggregate gross proceeds of $910,000.

Each Unit consists of one common share in the capital of the Company and one transferrable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share at a price of $0.55 until October 31, 2027. The Warrants will be restricted from exercise until December 31, 2025, being the 61^st day following the closing of the Offering.

In connection with the Offering, the Company issued 212,800 finder's warrants. The finder's warrants are exercisable into common shares at $0.55 per share until October 31, 2027.

The Company intends to use the proceeds from the Offering for permitting, South Dakota relations, drilling bonds, marketing and investor relations, working capital and general corporate purposes.

The Units were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"). Pursuant to NI 45-106, the securities comprising the Units issued to Canadian residents under the Offering are not subject to resale restrictions. The Company is relying on the exemptions in Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Order") and is qualified to distribute securities in reliance on the exemptions included in the Order.

The Company also announces that it has added deferred shared units ("DSUs") as a category of awards that may be granted pursuant to its 2023 omnibus equity incentive compensation plan, and an aggregate of 285,000 DSUs have been granted to directors and officers of the Company. The DSUs will vest over a 12 month period, with 25% vesting every three months after the date of grant.

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.

On Behalf of the Nexus Board

Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to: the use of proceeds of the Offering. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipates", "anticipated" "expected" "intends" "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have 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. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

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

This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. The distribution of Nexus securities in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") and Nexus securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy Nexus securities, nor shall there be any offer or sale of Nexus securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

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