NexMetals Mining Corp. (TSX-V: NEXM) (OTC Pink: PRMLD) is pleased to report assay results from the first two 2025 resource expansion holes with continued drilling at Selebi North Underground beyond the 2024 Mineral Resource Estimate.

Key Highlights:

• SNUG-25-184: South Limb, 183 metres down plunge of 2024 MRE
  13.50 metres of 3.68% CuEq (1.13% Cu, 1.24% Ni, 0.06% Co)

  and N2 Limb, 300 metres down plunge of 2024 MRE
  6.25 meters of 2.16% CuEq (0.62% Cu, 0.75% Ni, 0.04% Co)

• SNUG-25-185: N2 Limb, 65 metres down dip of 2024 MRE
  5.95 metres of 4.14% CuEq (2.87% Cu, 0.62% Ni, 0.03% Co)

• A Borehole Electromagnetic survey completed in SNUG-25-184 revealed strong off-hole conductors, confirming the South Limb and N2 zones remain open down-plunge (see news release May 1, 2025).

• Follow-up hole SNUG-25-186 was drilled to test these conductors and interested 16.20 metres of South Limb mineralization 132 metres down-plunge of SNUG-25-184 (see news release May 27, 2025).

• South Limb mineralization has been extended 315 metres down-plunge beyond the 2024 resource model, based on holes SNUG-25-184 and 186. Assays for additional holes are pending.

• New mineralization discovered in recently completed drill hole SNUG-25-189 includes 5.20 metres of mineralization at South Limb and 15.50 metres of mineralization at N2 Limb.

• Drill hole SNUG-25-190, currently in progress, is stepping out to test the strike extent of mineralization.

• Total metres not included in the MRE is 37,113 metres in 85 holes.

Figure 1: Location of drill holes relative to the MRE and underground infrastructure.

Drill core photos for all holes reported herein, are accessible by clicking here and can also be found on the Company’s website at www.nexmetalsmining.com.

To view the 3D modeling, please visit the following link https://vrify.com/decks/19334.

Morgan Lekstrom, CEO of the Company, commented: “The results from drill holes 184 and 185 continue to demonstrate the impressive step-out success and the broader scale of mineralization beyond the boundaries of the current resource. Drilling has further extended the deposit intercepting mineralization roughly 315 metres down-plunge, well past its modeled limits. Given our existing resource grades of over 3% CuEq, this result further validates the potential of this system. Our application of BHEM, combined with a deep technical understanding of the deposit, is allowing us to target these deeper zones with incredible precision. The system remains open, and the BHEM results combined with these first assays reinforces our confidence that this mineralized corridor continues at depth.”

Assay results have been received and reported below in Table 1 and drill hole collar details are provided in Table 2. Assays are pending for all other drill holes described herein.

The various mineralized zones have been historically mined and subsequently named N2 Limb, N3 Limb and South Limb to demarcate their location on the folded mineralized horizon. Additional drilling is needed to properly determine true width of mineralization on each limb and define the folded mineralization.

Table 1: Assay Results Selebi North Deposit

¹Length refers to drillhole length and not true width. True widths are unknown.
²Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.
³CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

Table 2: Drill Collar Information Selebi North Deposit

Next Steps

Completed drill hole SNUG-25-189 was drilled between SNUG-25-096-W1 and SNUG-25-184 and intersected 5.20 metres of mineralization at South Limb and 15.50 metres of mineralization at N2 Limb.

Follow-up drilling is underway, with drill hole SNUG-25-190 targeting the strike extent at a distance of 115 metres from SNUG-25-184 to further evaluate the continuity and scale of both the South Limb and N2 mineralized systems.

Qualified Person

All scientific and technical information in this news release has been reviewed and approved by Sharon Taylor, VP Exploration of the Company, MSc, P.Geo, and a “qualified person” for the purposes of National Instrument 43-101.

Quality Control

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

Technical Report

The MRE on the Selebi Mine is supported by the technical report entitled “Technical Report, Selebi Mines, Central District, Republic of Botswana” and dated September 20, 2024 (with an effective date of June 30, 2024), and prepared by SLR Consulting (Canada) Ltd. for NEXM. Reference should be made to the full text of the Selebi Technical Report, which was prepared in accordance with NI 43-101 and is available on SEDAR+ (www.sedarplus.ca) under NEXM’s issuer profile.

About NexMetals Mining Corp.

NexMetals Mining Corp. is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the Company in the Republic of Botswana.

NexMetals is committed to governance through transparent accountability and open communication within our team and our stakeholders. NexMetals’ team brings extensive experience across the full spectrum of mine discovery and development. Collectively, the team has contributed to dozens of projects, including work on the Company’s Selebi and Selkirk mines. Senior team members each have on average, more than 20 years of experience spanning geology, engineering, operations, and project development.