Water Rights Granted For The Independence Gold Project

VANCOUVER - Nexus Uranium Corp. has been granted water rights for its Independence gold project in Nevada. The Nevada Division of Water Resources approved both of the Company's permits. The approved permits include the Independence Project and the adjacent Section 17, previously acquired in 2020 for the purpose of attaining water rights, exceed the estimated water requirement for both development and operation of a low-cost heap-leach operation.

"The granting of water rights represents a material derisking step for the Independence Project and represents one of the significant gating items required for future production," commented Jeremy Poirier, CEO of Nexus Uranium. "This represents the culmination of over three years of work with the State and permitting agencies as we worked to provide a clear pathway for mine development. It also comes at an opportune time with gold prices continuing to set new records which may significantly increase both the value of the asset and its attractiveness to potential suitors. We continue to advance our evaluation of strategic alternatives to unlock value for both Nexus and its shareholders."