Nexus Uranium Announces At-the-Market Offering of up to $10 Million and Provides Corporate Update

Vancouver, British Columbia–(Newsfile Corp. – March 17, 2026) – Nexus Uranium Corp. (CSE: NEXU) (OTCQB: NEXUF) (FSE: JA7) (“Nexus” or the “Company“) announces the establishment of an at-the-market equity offering, the grant of deferred share units (“DSUs“) and restricted share units (“RSUs“) to certain directors, officers, and consultants, and the resignation of Jordan Carroll from the Company’s Board of Directors.

At-the-Market Offering

Nexus Uranium Corp. announces that it has entered into an equity distribution agreement (the “Distribution Agreement“) with Haywood Securities Inc. (“Haywood” or the “Agent“). Under the Distribution Agreement, the Company will be entitled, at its discretion and from time-to-time during the term of the Distribution Agreement, to sell, through Haywood as sole and exclusive placement agent, such number of common shares of the Company (the “Common Shares“) having an aggregate offering price of up to $10,000,000 (the “ATM Offering“). Sales of the Common Shares will be made through “at-the-market distributions”, as defined in National Instrument 44-102 – Shelf Distributions, directly on the Canadian Securities Exchange (“CSE“) or, if any, other recognized Canadian “marketplace” within the meaning of National Instrument 21-101 – Marketplace Operations where the Common Shares are listed, quoted or otherwise traded. The volume and timing of distributions under the ATM Offering, if any, will be determined in the Company’s sole discretion. The Common Shares will be distributed at market prices or prices related to prevailing market prices from time to time. As a result, prices of the Common Shares sold under the ATM Offering will vary as between purchasers and during the period of distribution. The ATM Offering will be effective until the earlier of (i) the issuance and sale of all of the Common Shares issuable pursuant to the ATM Offering and (ii) March 4, 2028, unless terminated prior to such date in accordance with the terms of the Distribution Agreement. In connection with the ATM Offering, the Agent will receive a cash commission equal to 3.0% of the gross proceeds of the Common Shares sold pursuant to the ATM Offering.

Distributions of the Common Shares under the ATM Offering will be made and qualified by way of a prospectus supplement (the “Prospectus Supplement“) to the Company’s existing short form base shelf prospectus (the “Base Shelf Prospectus“) dated February 3, 2026. The Prospectus Supplement has been filed with the securities commissions in all provinces and territories of Canada. The Prospectus Supplement (together with the Base Shelf Prospectus) is available on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus and any amendment to the documents may be obtained, without charge, from the Company at info@nexusuranium.com or Haywood at ecm@haywood.com by providing the contact with an email address or address, as applicable.

The Company intends to use the net proceeds of the ATM Offering for exploration of its Chord Project in South Dakota, exploration of its South Pass project in Wyoming, and for general corporate purposes, including, among other possible uses, funding potential future acquisitions and other capital expenditures.

Award Grants

The Company also announces that it has granted an aggregate of 700,000 DSUs and 100,000 RSUs to certain directors, officers, and consultants of the Company, pursuant to its amended 2023 omnibus equity incentive compensation plan. 690,000 DSUs and all 100,000 RSUs will vest over a one-year period in four equal tranches, with 25% vesting every three months from the date of grant. The remaining 10,000 DSUs vest immediately upon grant.

The DSUs, RSUs, and the underlying common shares are subject to a four-month hold period in accordance with applicable Canadian securities laws and the policies of the CSE.

Director Resignation

The Company announces the resignation of Jordan Carroll from its Board of Directors, effective March 19, 2026. Mr. Carroll is stepping down to pursue other opportunities. The Board of Directors and management of Nexus Uranium wish to thank Mr. Carroll for his contributions to the Company and wish him well in his future endeavors.

The securities being referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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, Wolf Canyon, Deadhorse, and RC projects in South Dakota, and the South Pass project in Wyoming. 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.

—

Forward-Looking Statements

Certain information contained in this news release constitutes “forward-looking information” under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the ATM Offering, including the completion of any sales under the ATM Offering, the timing, volume and pricing of distributions of Common Shares under the ATM Offering, the anticipated duration of the ATM Offering, the anticipated use of proceeds, the filing and availability of the Prospectus Supplement, the expected timing and outcome of regulatory processes, including the hearing before the South Dakota Board, and receipt and approval for the ATM Offering. Such forward looking information or statements can be identified by the use of words such as “believes”, “plans”, “suggests”, “targets” or “prospects” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “will” be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. These risks include, but are not limited to, the risk that the Company may not sell any Common Shares under the ATM Offering or may only sell a limited amount, changes in market conditions or the trading price of the Common Shares, regulatory risks, and general economic, market or industry conditions. Forward-looking information contained herein is made as of the date of this news release. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.

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

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