Nexmetals increases public offering to $80-million

Mr. Morgan Lekstrom reports NEXMETALS ANNOUNCES UPSIZING OF PUBLIC OFFERING TO $80 MILLION Nexmetals Mining Corp. has increased the size of its previously announced best efforts public offering of units of the company from up to $65-million to up to $80-million due to strong demand from institutional investors, representing the second time the offering has been upsized. The offering will be conducted by SCP Resource Finance LP as sole bookrunner and together with Raymond James Ltd. as co-lead agents, on their own behalf and on behalf of a syndicate of one or more additional agents. Under the amended terms, the offering will consist of up to 14,035,100 units, and there will no longer be an overallotment option. The agents will receive a cash fee equal to 6 per cent of the gross proceeds of the offering, subject to a reduced cash fee equal to 2.0 per cent payable in respect of sales to certain individuals on a president's list for gross proceeds of up to $7.0-million (increased from $5.0-million). All other details of the offering remain as disclosed in the news release of the company issued on Oct. 28, 2025, and titled "Nexmetals Announces C$65 Million Public Offering of Units." Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share for a period expiring 24 months following the date of issuance at a price of $8.00. The net proceeds from the offering are expected to be used to finance the prepayment of the first contingent milestone payment under the asset purchase agreement for the Selebi and Selkirk mines, the timing of which is planned prior to the end of 2025, to advance exploration and development activities at the company's mineral assets in Botswana, and for working capital and general corporate purposes. Morgan Lekstrom, chief executive officer of the company, commented: "We are elated by the strong demand from mining-focused institutions. This upsizing reflects growing confidence in our assets, the team and the accelerated nature of the path forward. Once closed, this will provide us with the runway to advance our strategy, secure title for both Selebi and Selkirk assets, while continue delivering on key milestones." The offering is expected to close on or about Nov. 13, 2025, and remains subject to the receipt of all necessary approvals. About Nexmetals Mining Corp. Nexmetals Mining is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the company in the Republic of Botswana. Nexmetals is committed to governance through transparent accountability and open communication within the company's team and its stakeholders. Nexmetals' team brings extensive experience across the full spectrum of mine discovery and development. Collectively, the team has contributed to dozens of projects, including work on the company's Selebi and Selkirk mines. Senior team members each have on average, more than 20 years of experience spanning geology, engineering, operations and project development. We seek Safe Harbor.