NEXM.V · 2026-08-17 12:00:00

NexMetals Extends Trend of Thick Massive Sulphides to 1.45 Kilometres with Visual Intercept in Hole SMD-26-219 at Selebi Main

Drill Results Corporate Updates

NexMetals Extends Trend of Thick Massive

Sulphides to 1.45 Kilometres with Visual

Intercept in Hole SMD-26-219 at Selebi Main

Vancouver, British Columbia--(Newsfile Corp. - August 17, 2026) -

NexMetals Mining Corp. (TSXV:

NEXM) (Nasdaq: NEXM)

NEXM

" or the "

Company

") is pleased to report visual results from drill hole

SMD-26-219, part of its ongoing surface drilling program targeting the Flexure Zone ("

Flexure Zone

") at

the Selebi Main deposit in Botswana (see Figure 1). The hole intersected multiple thick intervals of semi-

massive and massive sulphide mineralization, extending the emerging high-grade mineralized trend by

approximately 450 metres beyond previously reported drilling. The trend, located within the Flexure Zone

and outside the 2024 Mineral Resource Estimate ("

2024 MRE

"), continues to demonstrate significant

expansion potential. Drill core photos from SMD-26-219 are shown in Figure 2.

What You Need to Know: Emerging Thick, High-Grade Trend Extended by a Further 450

metres to 1.45 kilometres

Emerging High-Grade Trend Extended:

Drill hole SMD-26-219 is located approximately 450

metres down-plunge of SMD-25-205 (11.05 metres of 7.31% CuEq, see news release dated

February 26, 2026) and 175 metres along strike of SMD-26-213 (22.90 metres of 3.02% CuEq).

The new visual intercept provides further evidence that the emerging thick, high-grade mineralized

trend continues at depth and extends well beyond the 2024 MRE.

Strong Visual Sulphide Mineralization in Two Zones:

Hole SMD-26-219 intersected multiple

intervals of sulphide mineralization, including a 20.0 metre mineralized zone that includes 1.6

meters of massive sulphides in the Main Zone and a 7.55 metre interval that includes 6.60 metres

of massive sulphides in the Lower Zone.

Unlocking Footwall Potential:

The 6.60 metre interval of massive sulphides, from 1,910.15 to

1,916.75 metres in the lower zone correlates with the lower zone interval in SMD-26-213 (7.45 m

of 2.52% Cu and 1.54 % Ni) located 175 metres along strike, suggesting an extensive system.

Continued Evidence of Mineralized Continuity:

Together with previously reported drill holes,

SMD-26-219 provides further evidence that both the Main Zone and Lower Zone host thick,

continuous sulphide mineralization over a significant distance within the Flexure Zone.

Assays Pending:

Assays are pending for all intervals and will be reported once received and

validated.

BHEM Highlights Continued Exploration Potential Toward Selebi North:

Borehole

electromagnetic survey ("

BHEM

") results show that the conductor that correlates with the lower

zone mineralization continues both down-dip and down-plunge toward Selebi North.

Why This Matters

Previous drilling established an emerging trend of high-grade assay results within the Flexure

Zone.

Hole SMD-26-219 extends that interpreted trend by approximately 450 metres and contains visual

sulphide mineralization consistent with previously reported mineralized intervals.

While assays are pending, the continuity of thick sulphide mineralization over increasing distances,

with holes spaced at nominal 200-to-300-metre intervals, continues to support the Company's

interpretation that the Flexure Zone at Selebi Main has significant potential for resource growth

beyond the 2024 MRE.

Next Steps

The 2026 Mineral Resource Estimate ("

2026 MRE

") remains on track for completion in the third

quarter of 2026.

Drill holes completed subsequent to the resource cut-off date of July 31, including

SMD-26-219, will not be included in the 2026 MRE but continue to support the Company's strategy

of expanding the Selebi resource base through ongoing exploration success.

The Company has engaged TECT Geological Consulting to develop an integrated three-

dimensional geological and structural model for Selebi North and Selebi Main. The model is

expected to enhance the Company's understanding of the geological controls of mineralization

across the mining license, support future resource growth and improve drill targeting of thicker,

higher-grade zones, and identify potential regional exploration targets.

Sean Whiteford, CEO and Director of the Company, commented:

"While assays are still pending,

we're extremely encouraged by the thickness and continuity of the sulphide mineralization we're seeing

in SMD-26-219. Together with our previously reported assay results, this hole continues to strengthen

our confidence that we're defining a significant mineralized trend well beyond the 2024 MRE. It's

particularly exciting because we have reached the cut-off date for the 2026 MRE, meaning this latest

hole represents upside beyond the upcoming resource update.

As drilling continues, we're accelerating our geological and structural modelling to better understand the

evolving geometry of the system. Each new hole is refining our understanding of how the mineralization

develops at depth and how the deposits relate to one another. That work is essential not only to support

future resource growth, but also to ensure that conceptual redevelopment plans for the Selebi Mines

Project will be based on the strongest possible geological understanding of the system."

Figure 1:

Inclined long section of Selebi Main highlighting the location of drill hole SMD-26-219

relative to the 2024 MRE and the expansion of the Flexure Zone. The 2024 Inferred Resource

reference in Figure 1 is presented in accordance with NI 43-101, which may not be identical to

Inferred Resource references under SK-1300.

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

https://images.newsfilecorp.com/files/7759/309840_3852bd3bc4d9ba3a_001full.jpg

Figure 2:

SMD-26-219 Core photos.

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

https://images.newsfilecorp.com/files/7759/309840_3852bd3bc4d9ba3a_002full.jpg

Detailed Drilling and BHEM Information

SMD-26-219, completed to 1958.5 metres is the most recent hole to intersect mineralization at the

Flexure Zone. This hole was planned as a step-out in the direction of Selebi North and also tested the

down-plunge extension of the interpreted trend of thick high grade massive sulphide mineralization.

SMD-26-219 intersected multiple intervals of massive, semi-massive and disseminated mineralization.

The Main Zone is seen as a 20.0 metre wide weakly to moderately mineralized interval from 1858.50 to

1878.50 metres and contains two narrow intervals of massive sulphides.

The lower zone is represented

by a 7.55 metre mineralized interval containing a 6.60 metre interval dominated by massive sulphides.

The lower zone intersection represents the most significant interval of massive sulphides seen in the

lower zone and the massive sulphide zone is similar to the lower zone intersection in SMD-26-213 (7.45

m of 2.52% Cu, 1.54% Ni, see news release July 22, 2026). The distance between these two holes is

175 metres.

The hole was surveyed with BHEM and results show a strong off-hole anomaly corresponding to the

Main Zone that indicates a strong conductor immediately up-plunge. The lower Zone shows a large in-

hole response with the conductor extending both down-dip and down-plunge toward Selebi North.

Table 1: 2026 Surface Drilling Results

Hole-ID

From

(m)

Length

(m)

(%)

Zone

CuEq

(%)

SMD-26-219

1858.50

1878.50

20.00

Main Zone

including

1861.20

1868.00

9.50

Main Zone

*including

1681.20

1862.80

1.60

Main Zone

*including

1864.20

1864.75

0.55

Main Zone

and

1873.00

1878.50

5.00

Main Zone

SMD-26-219

1909.20

1916.75

7.55

Lower Zone

including

1910.15

1916.75

6.60

Lower Zone

*including

1910.15

1912.75

2.60

Lower Zone

*and

1913.25

1916.75

3.50

Lower Zone

Length refers to drillhole length and not true width. True widths are estimated where density of drilling is sufficient for an estimation. Some true widths

cannot be estimated due to insufficient drill density.

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.

Assays pending

Hole-ID

From

(m)

Length

(m)

(%)

Zone

CuEq

(%)

Table 2: Surface Drilling Collar Information

HOLE ID

UTM East

UTM North

Elevation

Dip

True North

Azimuth

Hole Length

(m)

Comment

SMD-26-219

582660

7564014

904

-75.1

111.0

1956.8

Proposed collar

Qualified Person

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

Taylor, V.P. 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

The program is being executed using three company-owned underground Zinex U5 drills which were

converted into surface A5 drills, and two Marcotte HTM2500 drills purchased by the Company capable

of drilling to depths of 2,550 metres (NQ core).

Drill core samples are either NQ (47.75 mm diameter) or BQ (36.40 mm diameter).

All samples are ½

core samples cut by a diamond saw on site and the remaining 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 Geochemistry 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). Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with

an ICP-AES finish (PGM-ICP23).

Holes are numbered as follows: SMD (Selebi Main Deposit) + year + hole number starting at 201.

BHEM Surveys

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Botswana staff. Survey

data is collected using a 3-component fluxgate probe collecting full waveform data. Surveys have been

collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to

a calculated residual step response to better quantify the conductive sources. This added processing

has proven to be highly valuable because of the size of the highly conductive mineralized system.

Technical Report

The 2024 MRE on the Selebi Mines is supported by the technical report entitled "Technical Report,

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

of June 30, 2024) (the "

Selebi Technical Report

"), and the technical report summary entitled "S-K

1300 Technical Report Summary Selebi Mines, Central District, Republic of Botswana, Premium

Resources Ltd." dated December 17, 2024 (with an effective date of June 30, 2024) (the "

Selebi

Technical Report Summary

"), each 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 is available on SEDAR+ (

www.sedarplus.ca

) and the Selebi Technical Report Summary,

which was prepared in accordance with Subpart 1300 of Regulation S-K and is available in the

Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the U.S.

Securities and Exchange Commission on EDGAR (

www.sec.gov

), in each case, under NEXM's issuer

profile.

Advance Notice Policy

The Company also announces that the board of directors (the "Board") has approved an advance notice

policy (the "

Policy

") setting out the requirements for shareholders who wish to nominate persons for

election as directors of the Company at any annual or special meeting of shareholders.

The Policy is being adopted in furtherance of good corporate governance and to ensure that all

shareholders, including those participating by proxy rather than in person, receive adequate notice and

information with respect to director nominations so as to exercise their voting rights in an informed

manner. The Policy fixes a deadline by which shareholders must submit nominations to the Company

prior to any annual or special meeting of shareholders and establishes the form and content of the notice

that shareholders must provide to the Company in connection with such nominations.

The Board believes that the Policy is consistent with best practices among publicly listed companies and

promotes orderly and efficient meetings by providing the Company and its shareholders with a clear and

transparent framework governing the nomination of directors. A copy of the Policy is available under the

Company's profile on SEDAR+ at

www.sedarplus.ca

and on the Company's website at

https://nexmetalsmining.com/

The Policy will be placed before shareholders for ratification at the next annual meeting of shareholders.

Further details regarding the advance notice requirements in the Policy will be included in the

management information circular to be prepared and mailed to shareholders in connection with such

meeting.

About NexMetals Mining Corp.

NexMetals Mining Corp. is a TSX.V and NASDAQ listed mineral exploration and development company

focused on redeveloping the past-producing Selebi and Selkirk copper-nickel-cobalt-platinum group

element mines in Botswana. NexMetals has confirmed the scale of mineralization is larger than historical

estimates, supported by NI 43-101- and Regulation S-K 1300-compliant resource estimates, with

ongoing down-hole geophysics, drilling, and metallurgical programs aimed at expanding resources and

supporting future economic studies. The Company is led by an experienced management and technical

team with a proven track record in global mineral projects, emphasizing disciplined execution,

transparent governance, and long-term stakeholder value creation.

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

Sean Whiteford

CEO

[email protected]

1-866-794-NEXM (6396)

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.

https://x.com/NexMetalsCorp

LinkedIn:

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

Facebook:

https://www.facebook.com/NexMetalsMiningCorp

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, the

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

potential of the Selebi Main system and the scale and continuity thereof; the expansion potential

within the Flexure Zone and the Company's interpretation that the Flexure Zone has significant

potential for resource growth beyond the 2024 MRE; the receipt of pending assay results and the

timing and results thereof; the Company's belief that the combination of massive, semi-massive and

disseminated sulphides indicates a strong sulphide system with potential for scale, particularly when

integrated with ongoing BHEM targeting; the expected timing of completion of the 2026 MRE in Q3

2026; the Company's belief in the benefits of its data-driven exploration approach; the anticipated

benefits of TECT Geological Consulting's model, including enhancement of the Company's

understanding of the geological controls of mineralization across the mining license, support for future

resource growth and improvement of drill targeting of thicker, higher-grade zones, and the

identification of potential regional exploration targets; and future resource modelling and potential

mine planning. 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 drilling and metallurgical test results; the ability of exploration

results to predict mineralization; the ability of the Company to implement its drilling, geoscience and

metallurgical work on its properties and work plans generally; prefeasibility or the feasibility of mine

production; 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 SEC 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/309840

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