Thermogenic molecular nitrogen (N2) is one of the primary sources of high N2 content in overmature shale gas reservoirs. However, it remains uncertain whether N2 is released from organic or inorganic sources because the occurrence and thermal stability of different nitrogen species vary. This study investigates the Lower Cambrian shale samples from a well in southeastern Guizhou, China to determine the abundance, occurrence, and source of nitrogen in marine shale. A sealed gold tube pyrolysis experiment was further conducted on isolated kerogen and organic matter (OM)-ashed samples from one typical shale to explore the maturation transformation of organic nitrogen (Norg) and inorganic nitrogen (Ninorg). The results reveal that the studied shale exhibits a high nitrogen content, with the Norg content being less than that of Ninorg. The predominant functionality of Norg is pyrrolic-N, and Ninorg occurs primarily in silicates (NH4+-bearing illite and (NH4+, K, Ba)-feldspar). The structural characteristics of the different nitrogen functionalities cause them to vary in their thermal transformation behavior. The pyrolysis experiment results indicate that the nitrogen release of the shale increases rapidly when EqVRo >3.7%, and the N2 yields for typically shelf-slope facies shales are primarily 1–2 m3/t at EqVRo 4.0%–4.2%, to which the Ninorg has a dominant contribution. Further evidence that the high N2 shale gas reservoirs occur at EqVRo >3.5% is provided by compiled gas composition data from various risk wells. It is proposed that the Lower Cambrian shale gas exploration should address the considerably increased N2 risk in the shelf–slope facies area.