Nexcel Metals Initiates Tender Process for 2026 Drill Program at the Burnt Hill Tungsten Project

Executive Summary

• Nexcel Metals Corp. has initiated the contractor selection process for its inaugural diamond drill program at the Burnt Hill Tungsten Project in New Brunswick, Canada.
• The program targets approximately 5,000 meters of drilling, with an expected commencement in September 2026 pending permit approval and operational preparations.
• The campaign is designed to validate historical tungsten mineralization, conduct step-out and infill drilling to expand the known footprint, and advance the geological model to support future resource evaluation.

Key Details

• Drilling Program: Inaugural diamond drill program targeting approximately 5,000 meters.
• Timeline: Contractor tender initiated; drilling expected to commence in September 2026 (subject to receipt of all necessary permits and customary operational preparations).
• Drilling Objectives: Confirm and expand upon historical tungsten mineralization, test known zones, and perform step-out/infill drilling to extend the mineralized footprint and improve understanding of the continuity and geometry of the tungsten-bearing system.
• Recent Exploration Activities: Completed a helicopter-borne geophysical survey; engaged Condor North Consulting ULC to integrate and interpret geophysical, geological, and historical datasets, with interpretation results expected imminently to finalize drill targeting.
• Historical Resource Data (NI 43-101, 2013 Report):
• Open Pit Indicated: 1,761,000 tonnes averaging 0.292% WO3, 0.007% MoS2, and 0.008% SnO2.
• Underground Indicated: 1,520,000 tonnes averaging 0.263% WO3, 0.008% MoS2, and 0.005% SnO2.
• Total Indicated Resource: 3,281,000 tonnes.
• Inferred Resources detailed with contained metal equivalents: Tungsten (9.78M lbs total), Molybdenum (323.61k lbs total), Tin (376.74k lbs total).
• Project Scope: Covers approximately 8,046 hectares in central New Brunswick; includes several additional areas of identified tin, tungsten, and molybdenum mineralization within the property boundary not yet at the resource stage.
• Qualified Person: Francis Newton, P.Geo., consultant and "Qualified Person" as defined in NI 43-101.

Notable Quotes

• Hugh Rogers, CEO: "Following the completion of our airborne geophysical survey, the engagement of technical consultants, and the submission of our drill permit applications, moving into the contractor tender stage marks another important step in advancing Burnt Hill toward drilling... With tungsten increasingly recognized as a strategic and critical mineral for defense, aerospace, and industrial applications, we are excited to position Nexcel for what we expect will be a transformational drilling campaign."