NexMetals Drills 201.30 metres of 0.91% CuEq, including 158.75 metres of 1.00% CuEq Near Surface Emphasizing Consistent Mineralization and Expansion Potential at Selkirk

Executive Summary

• NexMetals announced assay results from the first two holes (SMET‑25‑002 and SMET‑25‑003) of its 12‑hole metallurgical drilling program at the Selkirk Mine, Botswana.
• Both holes returned wide intervals of continuous Cu‑Ni‑Co‑PGE mineralization, including zones above the current Mineral Resource Estimate (MRE) but within the conceptual open‑pit shell, indicating potential resource expansion and low strip‑ratio open‑pit development.
• The reported grades exceed the US $25/tonne net smelter return cut‑off (0.46% CuEq), suggesting material above cut‑off that could be mined.

Key Details

• Hole SMET‑25‑003: 201.30 m @ 0.91 % CuEq (incl. 158.75 m @ 1.00 % CuEq).
• Grade breakdown: 0.33 % Cu, 0.30 % Ni, 0.55 ppm Pd, 0.13 ppm Pt.
• Hole SMET‑25‑002: 85.00 m @ 0.98 % CuEq.
• Grade breakdown: 0.34 % Cu, 0.31 % Ni, 0.65 ppm Pd, 0.14 ppm Pt.
• Near‑surface interval (outside MRE, within pit shell):
• SMET‑25‑002 – 19.90 m @ 0.58 % CuEq starting at 26.10 m depth (0.18 % Cu, 0.19 % Ni, 0.43 ppm Pd, 0.09 ppm Pt).
• Cut‑off comparison: Current cut‑off is 0.46 % CuEq; all reported intervals are above this threshold.
• Core handling & QA/QC: Core sawn into quarters; samples sent to Blue Coast Research (BC) for metallurgical testing and ALS Chemex (Johannesburg) for assay work. Certified blanks and standards used per batch.
• Drill program details: Completed by Discovery Drilling using a Boyles 56 rig; 12‑hole program total, with assays to be released on an ongoing basis.
• Hole collar coordinates:
• SMET‑25‑002 – Easting 575 370.9, Northing 7 642 476.5, Elevation 986.8 m, Dip ‑72.1°, Azimuth 30.5°, Length 401.20 m.
• SMET‑25‑003 – Easting 575 450.8, Northing 7 642 666.4, Elevation 996.9 m, Dip ‑69.0°, Azimuth 27.2°, Length 295.85 m.
• Technical context: Results support ongoing metallurgical testwork and resource growth; referenced NI 43‑101 Technical Report dated 8 Jan 2025 (effective 1 Nov 2024).
• CEO comment (Morgan Lekstrom): Emphasized “large, continuous zones of mineralization” confirming deposit scale, potential for improved strip ratio, and upside for resource expansion.

Notable Quotes

“These new drill results have delivered above and beyond what we have anticipated… Selkirk continues to demonstrate substantial upside, and with our dual focus on metallurgical optimization and resource growth, we are increasingly defining the full scale and potential of this deposit.” – Morgan Lekstrom, CEO & Director.