NexMetals Reports 11.15 Metres of 7.65% CuEq (3.10% Cu, 2.21% Ni) at Selebi Main, Highlighting a Kilometre-Scale Trend of Thick, High-Grade Massive Sulphides

NexMetals Mining Corp. (NEXM) has released assay results from four surface drill holes at the Selebi Main deposit, targeting the Flexure Zone. The company highlights a kilometre-scale mineralized trend that remains open to the north, noting that widely spaced holes, spaced 200–300 meters apart, have intersected thick massive sulphides.

Key intercepts from the drilling program include:

• SMD-26-212-W1 (Main Zone): 11.15 m @ 7.65% CuEq (3.10% Cu, 2.21% Ni) from 1,520.1 m
• SMD-26-212-W1 (Lower Zone): 13.45 m @ 2.14% CuEq (0.93% Cu, 0.59% Ni), including 4.00 m @ 3.63% CuEq
• SMD-26-210: 4.10 m @ 6.23% CuEq (1.85% Cu, 2.13% Ni), including 2.90 m @ 7.16% CuEq; a 225 m north step-out from SMD-25-205
• SMD-26-213 (Main Zone): 2.80 m @ 3.76% CuEq; (Lower Zone): 22.90 m @ 3.02% CuEq, including 7.45 m @ 5.69% CuEq
• SMD-26-214: minor stringer/semi-massive sulphides (0.80 m @ 2.26% CuEq, 1.55 m @ 2.58% CuEq)

NexMetals Mining Corp. (NEXM) announced that the high-grade Flexure Zone extends over 1 km and remains open, a development that adds tonnage to the company’s resource expansion story ahead of its upcoming Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA). The visual intercepts, announced on June 1, are consistent with the best prior results. While the assay grades are strong, they align with expectations set by previous drilling, including SMD-25-205.

The news reinforces the probability of a significantly larger resource and a robust PEA. However, the market had already reacted to the visual intercepts, with the stock declining from $3.91 to $3.15. Ongoing going-concern risk and the need for future financing temper the impact of the announcement.

NexMetals Mining Corp. is a Canadian junior explorer and developer focused on past-producing copper-nickel-cobalt-platinum group element assets in Botswana, specifically the Selebi Mines, which include the Main and North deposits, and the Selkirk Mine. Selebi hosts an existing Inferred resource of 24.7 million tonnes at 3.40% copper equivalent, alongside a smaller Indicated resource. The company is advancing toward updated mineral resource estimates and a preliminary economic assessment, supported by a 30,000-meter surface drill program at Selebi Main. Selkirk holds a recent 2026 Indicated resource of 78.2 million tonnes at 0.66% copper equivalent. NexMetals is pre-revenue, with approximately $26 million in cash as of Q1 2026 and a going-concern warning.