NexMetals Mining Corp. (TSX-V: NEXM) (NASDAQ: NEXM) announces assay results from the final three holes of the 2025 metallurgical drill program at the past producing Copper, Nickel, Cobalt and Platinum Group Elements Selkirk Mine in Botswana.

Why This Matters: Consistent grade over large intervals indicates potential for a low strip ratio, open pit development (see “Technical Report” below).

• Results from the final 3 holes of the 2025 metallurgical program confirm wide, continuous zones of mineralization suitable for the ongoing metallurgical test work.
  • SMET-25-009: wide interval of continuous mineralization
    • 231.00 metres of 1.09% CuEq (0.39% Cu, 0.38% Ni, 0.64 ppm Pd, 0.15 ppm Pt)
      incl. 97.00 metres of 1.28% CuEq (0.46% Cu, 0.43% Ni, 0.76 ppm Pd, 0.18 ppm Pt
      incl. 47.90 metres of 1.42% CuEq (0.52% Cu, 0.49% Ni, 0.83 ppm Pd, 0.17 ppm Pt)
• All mineralization from SMET-25-011 was intercepted below the Mineral Resource Estimate and the conceptual pit demonstrating the potential for expansion of the deposit at depth.
• Mineralization intercepted above the MRE and within the current conceptual pit shell demonstrates the potential for expansion of the deposit toward the surface.
• All assay results reported to date will be incorporated into an updated MRE.
• Drill core from all eleven 2025 holes reported to date is now supporting the metallurgical testwork underway at Blue Coast Research in British Columbia. This work will help optimize the flowsheet, maximize recoveries, and advance the evaluation of separating the concentrate.
• Current cut-off of US$25.00 per tonne net smelter return defined in the 2024 MRE translates to 0.46% CuEq. Any material above this cut-off grade could potentially be mined.

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

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Morgan Lekstrom, CEO of the Company, commented: “The takeaway from this metallurgical drilling program is the sizable, mineralized continuity across this deposit. Delivering wide intervals of consistent high-grade mineralization reinforces just how big this system is and gives us the confidence to advance the next stage of our technical work. With all assays from the 2025 metallurgical drill program now reported, our technical team is focused on advancing the metallurgical work currently underway and ongoing assessment of processing options. This next stage will refine the flowsheet, confirm recoveries across the program, and drive the technical work that will inform future development decisions. Selkirk is increasingly demonstrating its potential as a significant additional value driver for NexMetals.”

Table 1: Assay Results Selkirk Deposit

¹Length refers to drillhole length and not true width.

²True thickness is estimated using the MRE wireframe where available.

³CuEq% calculated using the formula Cu% + Ni%*(55.605/53.913) + Pd g/t*(22.948/53.913) + Pt g/t*(14.891/53.913) using metal prices and recoveries listed in the 2025 Technical Report.

Table 2: Drill Collar Information Selkirk Deposit

¹Coordinates are WGS84z35S with geoidal elevations

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.

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.

For further information about NexMetals Mining Corp., please contact:

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