Nexus Announces Additional Upsize of Previously Announced Financing

Vancouver, British Columbia--(Newsfile Corp. - December 9, 2024) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus") is pleased to announce it has increased its previously announced non-brokered private placement from up to 6,666,666 units of the Company ("FT Units") to up to 7,000,000 FT Units. The FT Units will be issued at price of $0.30 per FT Unit to raise gross proceeds of up to $2,100,000 (the "Offering").

Each FT Unit consists of one common share of the Company (a "FT Share") to be issued as a "flow-through share" within the meaning of within the meaning of the Income Tax Act (Canada) (the "Tax Act") and one common share purchase warrant (a "Warrant") each of which is exercisable to acquire one common share for 18 months following closing at an exercise price of $0.40.

Proceeds from the Offering will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Tax Act and "flow through critical mineral mining expenditures" as defined in subsection 127(9) of the Tax Act at the Cree East uranium project located in the Athabasca Basin.

The Company may pay finders' fees and issue finders' warrants (having the same terms as the Warrants) on all or a portion of the Offering.

Completion of the Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

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 with historical grab sampling highlights of 144 g/t gold.