NexMetals Drills 210 Metres of 1.06% CuEq

Executive Summary

• NexMetals announced assay results from two additional drill holes (SMET‑25‑001 and SMET‑25‑004) completing a 12‑hole metallurgical drilling campaign at the Selkirk Cu‑Ni‑Co‑PGE deposit in Botswana.
• Both holes intersect wide intervals of continuous mineralization with CuEq grades up to 1.28 % over more than 70 m, extending beyond the current Mineral Resource Estimate (MRE) and inside the conceptual open‑pit shell, indicating potential resource expansion and low strip‑ratio pit development.
• The results bring the total announced metallurgical holes to four, reinforcing the deposit’s scale, grade consistency, and near‑surface amenability for open‑pit mining.

Key Details

• Hole SMET‑25‑004 – 210 m interval of 1.06 % CuEq (0.40 % Cu, 0.36 % Ni, 0.59 ppm Pd, 0.14 ppm Pt) including a higher‑grade sub‑interval of 74 m at 1.28 % CuEq.
• Hole SMET‑25‑001 – Starting 13 m below surface: 45 m interval of 0.69 % CuEq (0.23 % Cu, 0.23 % Ni, 0.46 ppm Pd, 0.10 ppm Pt).
• Both intercepts lie outside the current MRE but within the conceptual pit shell, supporting potential expansion toward the surface.
• Current cut‑off: US$25/tonne net smelter return (≈0.46 % CuEq); all reported intervals exceed this threshold.
• Total metallurgical drill holes announced to date: four (previously released on 2025‑09‑18).

Assay Summary (selected intervals)

Drill Collar Information

• SMET‑25‑001: Easting 575,502.8; Northing 7,642,676.4; Elevation 993.9 m; Dip ‑89.8°; Azimuth 17.5°.
• SMET‑25‑004: Easting 575,406.7; Northing 7,642,671.8; Elevation 1,000.7 m; Dip ‑88.1°; Azimuth 14.2°.

Technical & QA/QC

• Program executed by Discovery Drilling (Boyles 56). Core HQ, quartered for analysis. Labs: ALS Chemex (Johannesburg) and Blue Coast Research (metallurgical testing).
• QC includes commercial blanks and certified Cu/Ni sulphide standards every 20 samples.

Qualified Person

• Sharon Taylor, VP Exploration, MSc, P.Geo – qualified under NI 43‑101 and Regulation S‑K.

Notable Quotes

“These results position Selkirk as a standout asset, reinforcing the substantial scale of the deposit… The broad intervals of higher grades across widely spaced holes underscore both size and consistency.” – Morgan Lekstrom, CEO & Director

All forward‑looking statements are subject to risks and uncertainties detailed in the release.