Nexmetals arranges $65-million public offering

Mr. Morgan Lekstrom reports NEXMETALS ANNOUNCES C$65 MILLION PUBLIC OFFERING OF UNITS Nexmetals Mining Corp. has arranged a best effort public offering pursuant to an agreement with 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, of up to 11,403,509 units of the company at a price of $5.70 per unit for aggregate gross proceeds of up to $65-million. Each unit will consist of one common share of the company and one common share purchase warrant of the company. 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. 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: "Allocating a portion of this financing toward the prepayment of the APA would mark a critical step in securing title to both the Selebi and Selkirk assets, while allowing significant advancement on the high-grade projects in Botswana. Once completed, this will support long-term value creation while further derisking the assets." The offered securities will be sold by way of a short form prospectus in each of the provinces of Canada, except Quebec. The units will also be offered: (i) in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act; and (ii) in such other jurisdictions outside of Canada and the United States provided that a placement therein does not give rise to any prospectus, registration or continuous disclosure obligations on the part of the company. The company has granted to the co-lead agents an option to purchase up to that number of additional offered securities which equal to 15 per cent of the offered securities issued pursuant to the offering to cover overallotments and for market stabilization purposes. The overallotment option will be exercisable in whole or in part, at any time and from time to time, for a period of 30 days from and including the closing date (as defined herein). In connection with the offering, the company has agreed to pay to the agents a cash fee equal to 6 per cent of the gross proceeds of the offering (including upon any exercise of the overallotment option), 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 $5-million. 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 is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resource mines owned by the company in the Republic of Botswana. Nexmetals is committed to governance through transparent accountability and open communication within its 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.