NexMetals Mining Corp. (TSX-V: NEXM) (NASDAQ: NEXM) is pleased to announce that final concentrate assay results from its bulk sample-based metallurgical test program (see news release dated September 3, 2025) at the past-producing Selebi Mines in Botswana have confirmed the potential to produce clean, high-grade, saleable copper and nickel-cobalt concentrates.

Clean Concentrates Confirmed

• Commercial Specifications: Assays confirm both concentrates potentially meet industry-standard smelter acceptance criteria, establishing a potential pathway to commercial sales.
• Clean Concentrate: Both the copper and nickel concentrates show very low levels of deleterious elements, including magnesium, cadmium, mercury, fluorine, lead, silica, and arsenic, all are below industry-standard penalty thresholds. This clean profile is highly compelling and could enhance marketability and offtake terms.
• Low-Capital Restart Pathway: Validates the option for the Company to restart operations without the need for an on-site smelter or hydrometallurgical plant, reducing capital intensity and execution risk.

Next Steps

• Based on findings from mineralogical studies, investigate opportunity to reduce nickel losses of liberated nickel sulphide fines in nickel rougher tails by minimizing overgrinding and fines generation.
• Variability testing on additional Selebi samples.
• Use results to optimize the flowsheet and mining sequence to drive higher overall recoveries.

Morgan Lekstrom, CEO of the Company, commented: “These results confirm the success of our flowsheet process testing which demonstrated our ability to produce two separate, high-grade saleable copper and nickel concentrates. The final assays now show that both concentrates are very clean, containing low levels of deleterious elements and potentially meet commercial smelter specifications. Another exciting step in our accelerated work program, this further de-risks the project and enhances the marketability of Selebi’s concentrates.”

Technical Details

The geochemical analyses were carried out by Activation Laboratories Ltd. Ancaster, Ontario, Canada, to provide quality assessment of the Copper and Nickel concentrates produced from Selebi Locked Cycle Test 1 carried out at Blue Coast Research labs (see news release dated September 3, 2025). For brevity, only the analyses of potentially payable metals and deleterious elements are given in Table 1. Deleterious elements that can attract penalties in copper concentrate include arsenic, antimony, bismuth, lead, zinc, mercury, fluorine/chlorine, cadmium, selenium, tellurium, silica (SiO₂), alumina (AL₂O₃), and magnesia (MgO). Deleterious elements in nickel concentrate include arsenic, antimony, bismuth, lead, mercury, zinc, chlorine/fluorine, phosphorous, magnesium, aluminum, silica, and carbon.

For both the copper and nickel concentrates, all deleterious elements are well below the industry standard smelter penalty threshold.

Table 1. Lock Cycle Test -1 Copper and Nickel Concentrate Quality Assessment

Quality Control

Analyses were performed at Blue Coast Research in Parksville, British Columbia and Actlabs. BCR used a four acid digestion analyzed by ICP-OES (4AD-ICP) and Combustion-IR by Eltra for Sulfur (S(tot)-ELTRA). Actlabs carried out the remaining analyses using Hg-Cold Vapour AA, Whole rock Analysis-XRF, Short Lived (INAA), Fusion Specific Ion Electrode-ISE and Major Elements Fusion (ICP-OES).

Actlabs is an independent laboratory and accredited by the Standards Council of Canada to the ISO/IEC 17025 standard.

Qualified Persons

All scientific and technical information in this news release has been reviewed and approved by Norman Lotter, P.Eng., Pr.Eng., C.Eng., FSAIMM, FIMM, Consulting Engineer, and by Sharon Taylor, MSc., P.Geo., Vice President Exploration of the Company, each of whom are “qualified persons” for the purposes of NI 43-101 and Subpart 1300 of Regulation S-K.

Technical Report

The mineral resource estimate 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) and “S-K 1300 Technical Report Summary Selebi Mines, Central District, Republic of Botswana” and dated December 17, 2024, filed in accordance with Subpart 1300 of Regulation S-K on EDGAR (www.sec.gov), and 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.