Nexus Announces Signing of Contractors for Winter Drill Program

Vancouver, December 11, 2024 - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) (the "Company" or "Nexus") is pleased to announce the completion of contracting activities for the upcoming winter drill program at the Cree East uranium project. The program includes finalized agreements with drilling and camp service providers.

"We are pleased to have finalized all contracts for our winter drill program," commented Jeremy Poirier, CEO of Nexus Uranium. "This marks an important milestone in advancing the Cree East project. With all arrangements in place, we are positioned to begin drilling and aim to deliver meaningful exploration results that support our vision of creating long-term value for shareholders and contributing to the global clean energy transition."

The Cree East project is operated as a joint venture between CanAlaska Uranium Ltd. ("CanAlaska") and Nexus Uranium Corp. Following a rigorous tender process, contracts were awarded for all drilling and related site activities. The agreements provide for scalability and flexibility to adapt based on exploration results. Notably, Athabasca Catering Limited Partnership and Cyr Drilling International Ltd. were awarded the contract for drilling services. Mobilization is anticipated to begin in the coming weeks, with drilling expected to commence in early January 2025.

About Cyr Drilling International Ltd.

Cyr Drilling International Ltd. is an industry leader with over 20 years of experience in providing Contract Diamond Drilling & Geotechnical Services. Based in Sunnyside, Manitoba, Cyr Drilling is approaching 250 Contracts / Projects both domestic & international, drilling well in excess of 1.5 million meters in diverse environments. The company is renowned for its expertise, safety standards, and reliability in executing complex & technical drilling programs.

About Athabasca Catering Limited Partnership (ACLP)

Athabasca Catering Limited Partnership is Canada's largest First Nations-owned hospitality and site management company, offering over 25 years of industry-leading services. With a focus on safety, quality, and sustainability, ACLP specializes in remote camps, catering, and accommodation services tailored to client needs. The company's operations are rooted in cultural respect, community empowerment, and environmental stewardship.

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 programThese 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/233312