Nexus Uranium Announces Commencement of Winter Access Road Construction to Cree East Project

Vancouver, December 19, 2024 - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus") is pleased to announce the commencement of construction of the winter access road to its flagship Cree East uranium project, located in the prolific Athabasca Basin, Saskatchewan.

The ice road will provide vital seasonal access to the Cree East site, facilitating the efficient transportation of equipment, supplies, and personnel necessary for the expanded winter drill program announced earlier this month. The road construction aligns with Nexus' commitment to operational excellence and the development of infrastructure critical to advancing exploration at one of the largest uranium exploration projects in the region.

Highlights of the Winter Access Road Initiative:

• Enhanced Access: The road will improve logistical capabilities, allowing the timely execution of exploration activities while mitigating weather-related challenges.

• Safety and Sustainability: Adhering to industry-leading safety standards and environmentally responsible practices during construction and operation.

• Support for Expanded Exploration: Ensures that the recently announced expanded winter drill program at Cree East proceeds seamlessly, targeting high-priority zones for accelerated resource evaluation.

"The construction of the winter access road marks a significant step forward for the Cree East project, ensuring the operational support required to unlock its potential," said Jeremy Poirier, CEO of Nexus Uranium. "This effort highlights our strategic approach to developing world-class uranium assets in Canada's Athabasca Basin, a cornerstone of the clean energy revolution."

The Cree East project spans over 57,000 hectares and has seen over $20 million in exploration investment to date. It remains central to Nexus' mission of advancing critical mineral exploration and contributing to sustainable energy solutions globally.

The Company will provide additional updates as construction progresses and exploration activities ramp up.

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.

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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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/234428