Vancouver, British Columbia--(Newsfile Corp. - June 29, 2026) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: NEXUF) (FSE: JA7) ("Nexus" or the "Company") is pleased to congratulate enCore Energy Corp. ("enCore") on two major federal regulatory milestones at the Dewey Burdock Uranium Project in Southwest South Dakota: a Bureau of Land Management ("BLM") authorisation to begin infrastructure construction issued June 18, 2026, and a Nuclear Regulatory Commission ("NRC") Environmental Assessment and Finding of No Significant Impact ("FONSI") supporting the 20-year renewal of Dewey Burdock's Source Materials Licence issued June 22, 2026. Nexus holds the Chord uranium project in Fall River County, South Dakota, located within five miles of the Dewey Burdock project area in the Edgemont Uranium District - a region that has not seen uranium production since the early 1980s and where no ISR uranium operation has ever been conducted.

Jeremy Poirier, Chief Executive Officer of Nexus Uranium, commented: "We congratulate the enCore Energy team on receipt of both BLM construction authorisation and a positive NRC environmental assessment at Dewey Burdock. These two federal approvals, issued within days of one another, represent a major step forward for ISR uranium development in South Dakota. Chord is located approximately five miles from the Dewey Burdock Project, and we view these developments as encouraging context for the district."

Federal Regulatory Milestones at Dewey Burdock

On June 18, 2026, the BLM issued final authorisation permitting enCore's subsidiary, Powertech Inc., to begin construction of primary and secondary access roads, groundwater monitoring wells, and overhead power lines on approximately 240 acres of BLM-managed public land within the 10,580-acre Dewey Burdock project area. The authorisation followed completion of an Environmental Assessment and Finding of No Significant Impact under the National Environmental Policy Act^[1]. The Dewey Burdock Project is enrolled in the US federal Fast-41 permitting programme.

On June 22, 2026, the NRC issued an Environmental Assessment and FONSI in connection with the 20-year renewal of enCore's Source Materials Licence at Dewey Burdock, indicating the NRC will renew the licence upon enCore demonstrating continued compliance with requirements for constructing and operating an In-Situ Recovery ("ISR") facility^[2]. The NRC concurrently issued a Programmatic Agreement satisfying obligations under the National Historic Preservation Act.

About Nexus Uranium Corp.

Nexus is focused on meeting growing domestic uranium demand driven by the nuclear energy renaissance and the AI-powered data center buildout. Nexus Uranium Corp. 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, and the South Pass and Great Divide Basin projects in Wyoming (the Great Divide Basin project is currently under option). The Company also holds the Arizona Strip Project, comprising 38 BLM lode mining claims covering seven collapse breccia pipe uranium targets in Mohave County, Arizona with the JD Property is currently under option. In Canada, Nexus holds the Mann Lake project in Saskatchewan's Athabasca Basin. The Company's US projects are potentially amenable to in-situ recovery (ISR) mining methods. For more information, visit www.nexusuranium.com.

--

Forward-Looking Information

Certain statements in this press release constitute "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements with respect to the potential for uranium production from the Chord Project, the significance of regulatory developments at Dewey Burdock for the South Dakota ISR uranium district, and the anticipated operating and regulatory environment for ISR uranium development in South Dakota. Forward-looking information is based on the Company's current expectations, estimates, and assumptions, including that: applicable federal and state regulatory processes will proceed in a manner and on a timeline consistent with current expectations; the ISR uranium extraction method will be applicable to the Chord Project; and the South Dakota regulatory environment will remain favourable for uranium development. Forward-looking information is subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated, including risks related to: the Company's ability to obtain required permits and regulatory approvals; changes in applicable legislation or regulatory policy; the early-stage nature of the Chord Project; uranium price volatility; general exploration and development risks; and other factors described in the Company's public filings available on SEDAR+. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. The Company does not undertake any obligation to update forward-looking information, except as required by applicable securities law.

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

^[1] https://encoreuranium.com/news/encore-energy-receives-bureau-of-land-management-authorization-to-begin-construction-at-dewey-burdock-uranium-project/
^[2] https://encoreuranium.com/news/nuclear-regulatory-commission-issues-positive-decision-for-encore-energys-dewey-burdock-uranium-project/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302891

Source: Nexus Uranium Corp.