NexMetals Mining Corp. (TSX-V: NEXM) (NASDAQ: NEXM) announces assay results from 4 additional holes of the 12 hole metallurgical drilling program completed at the past-producing Copper, Nickel, Cobalt and Platinum Group Elements (“Cu-Ni-Co-PGE“) Selkirk Mine in Botswana. Drill core from 11 of these holes will be used in support of ongoing metallurgical testwork. This brings the total number of released holes to 8 of 11 metallurgical drill holes from the 2025 program (see news releases dated September 18^th and 23^rd, 2025), with additional assays expected to be released on an ongoing basis.

Why This Matters: Scale, Grade, Expansion

• Results continue to demonstrate the scale and consistency of mineralization.
  • SMET-25-005: wide interval of high-grade mineralization
    • 219.00 metres of 1.03% CuEq (0.39% Cu, 0.33% Ni, 0.61 ppm Pd, 0.14 ppm Pt)
    • 157.00 metres of 1.21% CuEq (0.46% Cu, 0.38% Ni, 0.72 ppm Pd, 0.16 ppm Pt)
  • SMET-25-006: wide interval of mineralization
    • 66.35 metres of 1.17% CuEq (0.43% Cu, 0.41% Ni, 0.65 ppm Pd, 0.14 ppm Pt)
• Mineralization outside the Mineral Resource Estimate (“MRE”) and within the current conceptual pit shell demonstrates the potential for expansion of the deposit toward the surface.
  • SMET-25-005: starting at 47.00 metres from surface
    • 48.00 metres of 0.57% CuEq (0.19% Cu, 0.20% Ni, 0.34 ppm Pd, 0.08 ppm Pt)
• Large widths of near-surface mineralization support open-pit development potential with a low strip ratio (see “Technical Report” below).
• Current cut-off of US$25.00 per tonne net smelter return defined in the MRE translates to 0.46% CuEq. Any material above this cut-off grade could be potentially included in the MRE.

Figure 1: Location of 2025 metallurgical drill holes, resampled drillholes and Mineral Resource Estimate. 

Morgan Lekstrom, CEO of the Company, commented: “These latest drill results reinforce the impressive scale and consistency of Selkirk. Mineralization remains open in multiple directions, with wide near-surface zones highlighting resource expansion and open-pit potential. With each new hole, we are unlocking more of Selkirk’s true size, strength, and opportunity for expansion, positioning us well for the next steps in advancing the project.”

Assay results are reported below in Table 1 and drill hole collar details are provided in Table 2.

Table 1: Assay Results Selkirk Deposit

Table 2: Drill Collar Information Selkirk Deposit

Technical Report

The MRE on the Selkirk Mine is supported by the Technical Report entitled “NI 43-101 Technical Report Selkirk Nickel Project, North East District, Republic of Botswana”, dated January 8, 2025 (with an effective date of November 1, 2024). Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, which was prepared in accordance with NI 43-101 and Subpart 1300 of Regulation S-K and is available on SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov), in each case, under NEXM’s issuer profile.

Quality Control

The Selkirk metallurgical drill program was completed by Discovery Drilling using a Boyles 56 machine. Drill core samples are HQ (63.5 mm diameter) that were sawn in half with one half sawn in half again to produce quartered core. Selected portions of the remaining core were sent to Blue Coast Research for metallurgical flotation studies with the reminder retained for reference purposes. The quartered core samples submitted to the lab were generally one metre in length. 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). Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with an ICP-AES finish (PGM-ICP23).

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 and Subpart 1300 of Regulation S-K.

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.