Basin Uranium Announces Shareholder Approval For Plan Of Arrangement With Nexus Uranium

(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - September 4, 2025) - Basin Uranium Corp. (CSE: NCLR) (" Basin " or the " Company ") is pleased to announce that, at the annual general and special meeting (the " Meeting ") of holders (" Shareholders ") of common shares in the capital of the Company (" Shares ") held today, Shareholders overwhelmingly voted in favour of the previously announced plan of arrangement (the " Arrangement ") with Nexus Uranium Corp. (" Nexus ") and Blade Resources Inc. (" Spinco ").

Under the Arrangement, Nexus will acquire all of the issued and outstanding Shares for consideration of approximately 1.1 of a common share (each whole common share, a " Nexus Share ") in the capital of Nexus and approximately 0.11 of a common share (each whole common share being a " Spinco Share ") in the capital of Spinco. Each outstanding warrant and stock option of Basin will entitle the holder, upon exercise or settlement, to receive the number of Nexus Shares that such holder would have been entitled to receive pursuant to the Arrangement, had the security been exercised or settled immediately prior to the effective date of the Arrangement.

Shareholders holding a total of 3,840,762 Shares were represented in person or by proxy at the Meeting, representing 14.07% of the 27,300,679 issued and outstanding Shares entitled to vote as of July 21, 2025, the record date for the Meeting. The Arrangement required the approval of at least two-thirds (662⁄3%) of the votes cast by Shareholders present in person or represented by proxy and entitled to vote at the Meeting. Of the votes cast at the Meeting, 99.59% of the votes cast by Shareholders were in favour of the Arrangement.

All other motions tabled at the Meeting, including the election of Michael Blady, Clayton Olson, Jonathan Hamway and Desmond Balakrishnan to the board of directors of the Company, and the appointment of Manning Elliott LLP as the Company's auditor, also passed. The Company will seek a final order (the " Final Order ") of the Supreme Court of British Columbia (the " Court ") to approve the Arrangement on September 9, 2025. Completion of the Arrangement is subject to the satisfaction of customary closing conditions for a transaction of this nature, including receipt of the Final Order. Subject to the satisfaction (or waiver) of the closing conditions, it is expected that the Arrangement will be completed in shortly after the receipt of the Final Order. Following completion of the Arrangement, it is expected that Shares will be delisted from the Canadian Securities Exchange.

About Basin

Basin is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The Company has five advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon projects in South Dakota, the South Pass and Great Divide Basin projects in Wyoming, and the Wray Mesa project in Utah. All five projects have seen extensive historical exploration and located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia. Additional information on Basin can be found on its website and on its SEDAR+ profile at .

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