Nexcel Metals Receives Drill Permit Approval for 2026 Exploration Program at the Burnt Hill Tungsten Project, New Brunswick

Executive Summary

• Nexcel Metals received regulatory approval from New Brunswick to proceed with an initial ~5,000-metre diamond drilling program at its Burnt Hill Tungsten Project.
• The program marks the company's first drilling campaign since acquiring the asset and is designed to validate historical mineralization, confirm zone continuity/grade, test extensions, and integrate new geophysical data to update the NI 43-101 resource estimate.
• Mobilization is scheduled for August 2026, with drilling commencement planned for September 2026.

Key Details

• Permit Approval: Issued by the New Brunswick Department of Natural Resources and Energy Development on June 19, 2026.
• Drilling Scope: Approximately 5,000 metres of diamond drilling from up to 15 strategically positioned drill pad locations across the historically mineralized Burnt Hill deposit area.
• Program Objectives: Twin historical holes to validate tungsten, molybdenum, and tin intersections; confirm continuity, geometry, and grade distribution; test step-out extensions; evaluate areas with widely spaced historical drilling; integrate recently acquired airborne TDEM and magnetic survey data; and generate data to support future mineral resource updates.
• Survey & Targeting: Airborne TDEM and magnetic survey completed by Xcalibur MPH Ltd to identify conductive structures associated with tungsten mineralization; final targeting and priority refinement conducted by Condor North Consulting ULC ahead of mobilization.
• Timeline: Drill contractor tender initiated (announced June 16, 2026); mobilization expected August 2026; drilling commencement planned for September 2026.
• Historical Resource Data (NI 43-101, Jan 26, 2026): Indicated: 1.761 million tonnes grading 0.292% WO₃, 0.007% MoS₂, and 0.008% SnO₂. Inferred: 1.520 million tonnes grading 0.263% WO₃, 0.008% MoS₂, and 0.005% SnO₂.
• Strategic Context: Burnt Hill is recognized as one of eastern Canada's most significant known tungsten deposits; the program aims to re-establish a current resource estimate using modern exploration and reporting standards.

Notable Quotes

• Hugh Rogers, CEO: "Tungsten has become one of the most strategically important critical minerals globally, and receiving these drill permits is a significant step forward in unlocking the potential of the Burnt Hill Project... With permits now in hand, we are advancing preparations to commence drilling and look forward to what we believe will be a transformative exploration program for Nexcel."