NEXUS URANIUM CORP - GIDMF STOCK NEWS

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) has announced the repricing of 2,887,114 common share purchase warrants. The warrants, originally set at an exercise price of $0.60 with an expiry date of June 25, 2026, will be repriced to $0.36, effective immediately. This Warrant Repricing is subject to unanimous consent from registered holders of the outstanding Repriced Warrants, as per Canadian Securities Exchange (CSE) policies.

The CSE policies also stipulate that if the closing price of Nexus's common shares exceeds the amended exercise price by more than 25% for any ten consecutive trading days, the expiry date of the Repriced Warrants must be amended to 30 days from June 25, 2026. Nexus will announce any such change via press release, with the 30-day period commencing seven days after the end of the ten-day trading period.

Nexus Uranium Corp (CSE: NEXU) (OTCQB: GIDMF) has successfully completed the sale of its 51.54% interest in the development-stage Independence project in Nevada. The sale was executed through a right of first refusal exercised by America's Gold Exploration Inc (AGEI), the Company's joint venture partner, for C$1.22 million.

CEO Jeremy Poirier stated that this sale of non-core assets provides additional non-dilutive capital to advance the company's uranium exploration focus. Nexus Uranium remains well-capitalized as it prepares for its winter drill program at Cree East, expected to mobilize in early 2025.

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) has announced the proposed sale of its 51.54% interest in the Independence project in Nevada for C$1.2 million. The company entered into a definitive Purchase Agreement with a private third party on August 20th, 2024. The buyer has made a C$150,000 deposit, with the balance due at closing, expected around October 3rd, 2024.

The transaction is subject to certain conditions, including the Company's joint venture partner not exercising its right of first refusal. CEO Jeremy Poirier stated that the sale provides significant non-dilutive capital to advance Nexus's uranium focus, particularly the Cree East project in the Athabasca Basin. The company plans to use the proceeds to expand its planned exploration program at Cree East, for which it has received all necessary permits and approvals.

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) has received a three-year exploration permit from the Saskatchewan Ministry of Environment for the Cree East uranium project in the Athabasca Basin. The permit, valid through July 31st, 2027, allows for mineral exploration activities including geophysics and drilling, as well as camp construction. Nexus has the right to earn up to a 75% interest in the project from CanAlaska Uranium

The company recently completed a fieldwork program in July, which included relogging drill core. Condor Consulting Inc. is currently reinterpreting prior airborne and ground geophysical surveys. Upon completion, Nexus will finalize drill targets for an upcoming program. CEO Jeremy Poirier praised the efficient permit acquisition and the strong relationships with First Nations groups and the Saskatchewan Government.

Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) has announced the start of fieldwork at the Cree East uranium project in Saskatchewan's Athabasca Basin. Nexus has the option to earn up to a 75% interest in the project from CanAlaska Uranium Mobilization is set to begin in early July, focusing initially on relogging and recompiling data from historical drilling, with drilling to follow pending permit approvals. The project, with over $20 million spent on past exploration, is seeing renewed activity after more than a decade, marking a significant step post the Fukushima-induced industry slowdown. CEO Jeremy Poirier emphasized the systematic and data-driven approach to this highly prospective site.

Nexus Uranium Corp. (CSE: NEXU; OTCQB: GIDMF; FSE: 3H1) announced the closing of its non-brokered units offering, raising approximately $1.5 million through the issuance of 2,887,114 Flow-Through (FT) Units at $0.52 per unit. Each FT Unit contains one common share and one warrant, exercisable at $0.60 within 24 months.

The funds will be used for Canadian exploration expenses and flow-through critical mineral mining expenditures at the Cree East uranium project in the Athabasca Basin. Nexus paid $102,016 in cash finder's fees and issued 195,030 non-transferrable warrants to eligible finders.

The company also engaged Venture Liquidity Providers Inc. (VLP) to support market-making activities starting July 1, 2024, at $5,000 per month. The initial term is three months, with automatic monthly renewals thereafter. VLP operates independently and has no direct or indirect interest in Nexus.

Nexus Uranium provided an update on the Cree East uranium project. The company has applied for a three-year exploration permit which includes up to 40,000 metres of drilling and 300 line-kilometres of geophysics. The permit application, submitted on March 19, 2024, has been sent for Duty to Consult as part of the First Nation and Métis Consultation Policy. The consultation process is expected to take 90 to 100 days, with final permits anticipated between mid-September and mid-October. The CEO, Jeremy Poirier, emphasized the flexibility the permits offer for adapting drilling locations based on survey results and prior successes. The company has also announced a flow-through private placement to fund the first phase of the exploration.

Nexus Uranium announced a non-brokered private placement to raise up to $1.8 million through the sale of 3,461,538 flow-through units (FT Units) at $0.52 each. Each FT Unit includes one common share and a warrant exercisable at $0.60 for 24 months. Funds will support Canadian exploration expenses and critical mineral mining at the Cree East uranium project in the Athabasca Basin. Eligible finders may receive a 7% cash fee and warrants. Completion depends on necessary approvals, including from the Canadian Securities Exchange.

Nexus Uranium has announced a summer geophysical program for its Cree East uranium project in Saskatchewan's Athabasca Basin. The project includes a 1,746 line kilometer airborne AFMAG Electromagnetic survey to create a comprehensive geological map. The survey aims to identify conductive and resistive structures up to 2,000 meters deep, helping to pinpoint areas with potential uranium mineralization for a subsequent diamond drill program. Nexus aims to earn a 75% interest in the project from CanAlaska Uranium. The company also has other assets, including the Wray Mesa uranium-vanadium project in Utah and several gold projects in Nevada, British Columbia, and Yukon. Nexus cautions that the current data is preliminary and not yet verified.