NEXM.V · 2025-08-21 12:00:00

NexMetals Drills 19.40 Metres of 3.93% CuEq Including 4.02% CuEq Over 13.55 Metres Showing Continuity of High-Grade Mineralization in the Expansion of the Selebi North Deposit

Drill Results

NexMetals Drills 19.40 Metres of 3.93% CuEq

Including 4.02% CuEq Over 13.55 Metres

Showing Continuity of High-Grade

Mineralization in the Expansion of the Selebi

North Deposit

Vancouver, British Columbia--(Newsfile Corp. - August 21, 2025) -

NexMetals Mining Corp. (TSXV:

NEXM) (NASDAQ: NEXM)

(the "

Company

" or "

NEXM

") reports assay results from an additional drill

hole successfully intersecting high-grade mineralization at the Selebi North Underground ("

SNUG

deposit.

Drill hole SNUG-25-189 was designed to test the continuity of mineralization and confirms a

significant extension of the South Limb and N2 mineralization.

Highlights

Drill Hole SNUG-25-189: intersected South Limb and N2 Limb (Figure 1)

South Limb: 4.90 metres of 4.39% CuEq (0.73% Cu, 1.77% Ni)

N2 Limb: 19.40 metres of 3.93% CuEq (1.05% Cu, 1.40 % Ni)

Including: 13.55 metres of 4.02% CuEq (0.74% Cu, 1.60% Ni)

Recent results confirm that the mineralization continues at greater depths, strengthening

confidence in the size and continuity of the deposit.

Drilling is ongoing to evaluate the strike extent of this new mineralization, with assay results

pending for SNUG-25-191, which intersected mineralization in South Limb. SNUG-25-192

currently in progress.

Figure 1:

Location of drill holes relative to the 2024 Mineral Resource Estimate and underground

infrastructure.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/7759/263298_e9cbf3f1d4a6491b_002full.jpg

Morgan Lekstrom, CEO of the Company, commented:

"Drilling continues to highlight consistent

high-grade copper, nickel, and cobalt mineralization extending past the limits of the 2024 resource,

reinforcing the potential for further expansion. These next holes including drill hole 189, are designed to

evaluate the lateral extent of this mineralization and tie the datasets together, with the goal of increasing

both the size and confidence of the deposit. Drilling is ongoing, and this release represents the first

results from that program."

Assay results have been received and reported below in Table 1 and drill hole collar details are provided

in Table 2. Assays are pending for all other drill holes described herein.

The various mineralized zones have been historically mined and subsequently named N2 Limb, N3 Limb

and South Limb to demarcate their location on the folded mineralized horizon. Additional drilling is

needed to properly determine true width of mineralization on each limb and define the folded

mineralization.

Table 1: Assay Results Selebi North Deposit

Hole-ID

From

(m)

Length

(m)

(%)

Limb

CuEq

(%)

SNUG-25-189

715.50

720.40

4.90

0.73

1.77

0.09

South Limb

4.39

SNUG-25-189

814.85

834.25

19.40

1.05

1.40

0.08

3.93

incl

814.85

828.40

13.55

0.74

1.60

0.09

4.02

incl

814.85

820.40

5.55

0.89

1.90

0.10

4.81

and

831.40

834.25

2.85

2.86

0.88

0.05

4.68

Hole-ID

From

(m)

Length

(m)

(%)

Limb

CuEq

(%)

Length refers to drillhole length and not true width. True widths are unknown.

Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.

CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu, and nickel and copper

recoveries of 72.0% and 92.4%, respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

Table 2: Drill Collar Information Selebi North Deposit

HOLE ID

Mine

East

Mine

North

Elevation

Dip

Mine

Azimuth

Hole

Length

Comment

SNUG-25-189

35368.1

84409.7

81.1

-60.9

167.5

1028.5

Rig #2 810mL P5

Qualified Person

All scientific and technical information in this news release has been reviewed and approved by Sharon

Taylor, VP Exploration of the Company, MSc, P.Geo, and a "qualified person" for the purposes of

National Instrument 43-101 and Subpart 1300 of Regulation S-K.

Quality Control

Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site.

Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or

less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS

Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni

sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or

a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide

fusion preparation and ICP-AES finish (ME-ICP81).

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

Technical Report

The MRE on the Selebi Mine is supported by the technical report entitled "Technical Report, Selebi

Mines, Central District, Republic of Botswana" and dated September 20, 2024 (with an effective date of

June 30, 2024) (the "

Selebi Technical Report

"), and prepared by SLR Consulting (Canada) Ltd. for

NEXM. Reference should be made to the full text of the Selebi Technical Report, which was prepared in

accordance with NI 43-101 and Subpart 1300 of Regulation S-K and is available on SEDAR+

(

www.sedarplus.ca

) and EDGAR (

www.sec.gov

), in each case, under NEXM's issuer profile.

About NexMetals Mining Corp.

NexMetals Mining Corp. 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 our team and our 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.

For further information about NexMetals Mining Corp., please contact:

Morgan Lekstrom

CEO and Director

[email protected]

Jaclyn Ruptash

V.P., Communications and Investor Relations

[email protected]

https://x.com/NexMetalsCorp

LinkedIn:

https://www.linkedin.com/company/NexMetalsMiningCorp

Facebook:

https://www.facebook.com/NexMetalsMiningCorp

Neither the TSX Venture Exchange and its Regulation Services Provider (as that term is defined

in the policies of the TSX Venture Exchange) nor the Nasdaq Stock Market LLC accepts

responsibility for the adequacy or accuracy of this news release. No stock exchange, securities

commission or other regulatory authority has approved or disapproved the information

contained herein.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States

federal securities laws and "forward-looking information" within the meaning of applicable Canadian

securities legislation (collectively, "forward-looking information") based on expectations, estimates

and projections as at the date of this news release. Forward-looking information involves risks,

uncertainties and other factors that could cause actual events, results, performance, prospects and

opportunities to differ materially from those expressed or implied by such forward-looking information.

For the purposes of this release, forward-looking information includes, but is not limited to: ongoing

and expected drilling at SNUG; possible expanded mineralization beyond the existing MRE; the

release of assay results and the expected timing thereof; the expectation the mineralized corridor

continues at depth; the expected continuity and scale of the South Limb and N2 mineralized systems,

the implementation of the objectives, goals and future plans of the Company including the proposed

advancement of the Selebi Mine as currently contemplated; the expectation that exploration activities

(including drill results) will accurately predict mineralization; the expectation that the Company will

implement its drilling, geoscience and metallurgical work on its properties and work plans generally;

the implementation of the objectives, goals and future plans of the Company including the proposed

advancement of the Selebi Mine as currently contemplated; the effective targeting activities proposed

by the Company; the benefits of the Company's approach to exploration; management's belief that

the historical resource could be indicative of the presence of mineralization on the deposits; and the

anticipated benefits of the Company's approach to the resource development plan. These forward-

looking statements, by their nature, require the Company to make certain assumptions and

necessarily involve known and unknown risks and uncertainties that could cause actual results to

differ materially from those expressed or implied in these forward-looking statements. Factors that

could cause actual results to differ materially from such forward-looking information include, but are

not limited to, capital and operating costs varying significantly from estimates; the preliminary nature

of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or

the feasibility of mine production; the risk that mineralized corridor will not continue at depth; the risk

that assay results will not be as anticipated or received when anticipated; the risk that continuity and

scale of the South Limb and N2 mineralized systems will not be as expected; delays in obtaining or

failures to obtain required governmental, environmental or other project approvals; uncertainties

relating to the availability and costs of financing needed in the future; changes in equity markets;

inflation; fluctuations in commodity prices; delays in the development of projects; the other risks

involved in the mineral exploration and development industry; and those risks set out in the

Company's filings with the U.S. Securities and Exchange Commission on EDGAR (

www.sec.gov

) and

public disclosure record on SEDAR+ (

www.sedarplus.ca

), in each case, under NEXM's issuer profile.

Although the Company believes that the assumptions and factors used in preparing the forward-

looking information in this news release are reasonable, undue reliance should not be placed on such

information, which only applies as of the date of this news release, and no assurance can be given

that such events will occur in the disclosed time frames or at all. The Company disclaims any

intention or obligation to update or revise any forward-looking information, whether as a result of new

information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/263298

← Back to feed