Acquisition Of Seven Drill-Ready Breccia Pipe Targets

VANCOUVER – Nexus Uranium Corp. has entered into a definitive agreement to acquire the Arizona Strip Project, comprising 38 federal Bureau of Land Management (BLM) lode mining claims covering seven collapse breccia pipe uranium targets in Mohave County, Arizona. The Arizona Strip is one of the most prolific uranium districts in the United States, with historic breccia pipe mines producing uranium at grades typically ranging from 0.42% to 1.08% U₃O₈ – among the highest-grade uranium deposits mined in North America (U.S. Geological Survey, 2009). The Project has been the subject of extensive prior exploration, including ground geophysical surveys, surface geochemical sampling, and drilling, providing a meaningful foundation for the Company’s planned follow-up programs.
“The Arizona Strip is in a category of its own when it comes to uranium grade – the historic mines in this district set the benchmark for what high-grade breccia pipe uranium production can look like,” said Jeremy Poirier, Chief Executive Officer. “This acquisition aims to advance our strategy of building a diversified portfolio of uranium assets across established US districts, by adding a fundamentally different deposit type alongside the resource-stage Chord Project in South Dakota. The prior operator completed ground geophysics across all seven targets, giving us a strong foundation to follow up on as we compile the historic data and plan our next steps on the Project after closing of the transaction.”