Nexmetals reassays 107 m of 0.94% CuEq at Selkirk

Executive Summary

• Nexmetals released reassay results from six of the first 34 holes in its Selkirk resampling program, confirming large mineralized intercepts both inside and outside the current Mineral Resource Estimate (MRE).
• Hole DSLK129 returned 107 m @ 0.94% CuEq (including 91 m @ 0.99% CuEq) within the MRE; Hole DSLK130 returned 123.1 m @ 0.47% CuEq outside the MRE but inside the conceptual pit shell, indicating expansion potential.
• The reassay program incorporated previously omitted PGEs (Pd, Pt), suggesting additional value that could further enlarge the resource and support open‑pit development.

Key Details

• Program Scope: Ongoing 34‑hole resampling of Selkirk mine (Botswana); results reported for first six holes.
• Hole DSLK129 (inside MRE):
• 107.0 m @ 0.94% CuEq → 0.35% Cu, 0.31% Ni, 0.56 ppm Pd, 0.13 ppm Pt.
• Includes 91.0 m @ 0.99% CuEq → 0.36% Cu, 0.33% Ni, 0.58 ppm Pd, 0.13 ppm Pt.
• Hole DSLK130 (outside MRE, within pit shell):
• 123.1 m @ 0.47% CuEq → 0.13% Cu, 0.16% Ni, 0.34 ppm Pd, 0.09 ppm Pt.
• Cut‑off Grade: $25/tonne net smelter return (NSR) corresponds to 0.46% CuEq; all reported intercepts exceed this threshold.
• PGE Impact: Historical drill holes lacked consistent PGE analysis; reassay results show additional Pd and Pt grades that could increase the overall resource value and support expansion of the MRE.
• CEO Comment (Morgan Lekstrom): Emphasized that mineralization starts near surface, enhancing confidence for open‑pit development and that ongoing assay work will continue to reveal the deposit’s scale.
• Technical Reporting: Results supported by NI 43‑101 technical reports dated Jan 8 2025 (effective Nov 1 2024) and Apr 12 2023 (effective Mar 31 2023).
• Quality Control: Samples processed at ALS Chemex (Johannesburg); blanks and certified Cu/Ni sulfide standards used every 20 samples; analysis via peroxide fusion & ICP‑AES.
• Qualified Person: Sharon Taylor, VP Exploration, MSc, PGeo, reviewed and approved all scientific/technical information per NI 43‑101 and Reg S‑K.

Notable Quotes

“These early results from Selkirk confirm what we have believed from the beginning: that the deposit is far from being fully defined… the fact that mineralization starts near surface provides even more confidence in Selkirk's potential for open‑pit development.” – Morgan Lekstrom, CEO.