NexMetals Reports 11.05 Metres of 7.31% CuEq in SMD-25-205 Located 130 Metres Down-Dip from the Selebi Main Resource Within the Emerging Selebi Main Flexure Zone
NexMetals Reports 11.05 Metres of 7.31%
CuEq in SMD-25-205 Located 130 Metres
Down-Dip from the Selebi Main Resource
Within the Emerging Selebi Main Flexure Zone
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2026) -
NexMetals Mining Corp. (TSXV:
NEXM) (NASDAQ: NEXM)
("
NEXM
" or the "
Company
") reports additional high-grade drill results from
its ongoing surface drilling program targeting the emerging Selebi Main Flexure Zone. Recent drilling
has intersected significant copper-nickel mineralization beyond the current Selebi Main Mineral
Resource Estimate ("
MRE
"), confirming the presence of a newly interpreted flexure in the mineralized
system and demonstrating strong potential for additional high-grade resource expansion adjacent to the
existing Selebi Main deposit.
Assay results reported in this news release are for drill holes SMD-25-204 and SMD-25-205. All other
drill holes referenced herein intersected visual sulphide mineralization, with assay results currently
pending. Drill core photos for all holes referenced in this release are available on the Company's website
at
https://nexmetalsmining.com/selebi-core-samples/
.
HIGHLIGHTS:
Drill hole SMD-25-205 intersected two zones of mineralization 215 metres up dip from
SMD-25-201.
Main Zone – 11.05 metres of 7.31% CuEq
(3.00% Cu and 2.09% Ni) including 5.75
metres of 8.73% CuEq (3.98% Cu and 2.31% Ni)
Lower Zone - 1.05 metres of 7.84% CuEq
Drill hole SMD-25-203 intersected two zones of mineralization 685 metres beyond the
current Selebi Main MRE:
Main Zone – 18.30 metre mineralized zone that includes multiple intervals of
massive, semi-massive, and disseminated sulphides
Lower Zone – two zones of massive sulphides within a 4.55 metre interval
Drill hole SMD-26-208 intersected three zones of massive and disseminated sulphides
located 230 metres up plunge of SMD-25-205
Upper Zone – 2.15 metre interval of massive sulphides
Main Zone – 3.05 metre interval of massive and disseminated sulphides
Lower Zone – 10.5 metre interval of massive and disseminated sulphides
Drill Hole SMD-25-204 intersected multiple, narrow massive sulphide intervals including
0.85 metres of 6.24% CuEq at a distance of 1,000 metres beyond the Selebi North MRE
Interpretation and Resource Expansion Potential
All 2025 drill holes reported to date have intersected mineralization significant distances outside
the current MRE. SMD-25-203 is located 685 metres northwest of the 2024 Selebi Main MRE.
Results confirm the presence of an
emerging Flexure Zone where the mineralized system
changes orientation
, extending both down-dip and down-plunge from the existing Selebi Main
resource.
This Flexure Zone encompasses the recently identified
700 metre x 700 metre Super
Conductor BHEM plate
(see news release dated
January 20, 2026
), as well as additional strong
conductive responses extending beyond SMD-25-203.
These results confirm that the Selebi Main mineralized system remains open well beyond
current resource boundaries
, highlighting strong potential to add significant tonnes in future
MRE updates.
Figure 1
– Selebi Mine Long Section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/285533_1e46b88744c739f0_002full.jpg
Figure 2
– Selebi Main drill hole locations, and borehole electromagnetic plate geometry highlighting
new mineralized horizons
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/285533_1e46b88744c739f0_003full.jpg
Figure 3
– SMD-25-203 and SMD-26-208 core photos/sulphide intersections
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/285533_1e46b88744c739f0_004full.jpg
Sean Whiteford, CEO of the Company, commented:
"The Selebi camp continues to deliver both
scale and grade. The identification of a Flexure Zone at Selebi Main, supported by strong BHEM
conductors, provides a clear target for resource expansion. With step out holes over 685m from the
current Selebi Main resource and wide intercepts of high-grade massive sulphides (up to 11.05m of
7.31% CuEq), the 2026 resource expansion program is off to a tremendous start."
To date, the Company has completed 15,540 metres across seven completed holes, one hole
extension, one abandoned hole, and three holes currently in progress as part of the Selebi Main surface
drilling program. This drilling continues to target extensions of the Selebi Main mineralized system
associated with high-priority BHEM conductors.
Table 1: 2025 Surface Drilling Results
Hole-ID
From
(m)
To
(m)
Length
(m)
Est. True
Thickness
1
Cu
(%)
Ni
(%)
Co
(%)
2
Zone
CuEq
(%)
3
SMD-25-204
1852.60
1852.95
0.35
unknown
0.63
1.80
0.10
Main Zone
4.34
SMD-25-204
1853.95
1854.30
0.35
unknown
0.46
2.53
0.13
Main Zone
5.67
SMD-25-204
1855.65
1856.50
0.85
unknown
4.29
0.95
0.05
Main Zone
6.24
SMD-25-204
1858.00
1858.35
0.35
unknown
2.47
0.14
0.01
Main Zone
2.76
SMD-25-205
1686.70
1697.75
11.05
10.7
3.00
2.09
0.09
Main Zone
7.31
Incl.
1692.00
1697.75
5.75
5.6
3.98
2.31
0.10
Main Zone
8.73
SMD-25-205
1708.30
1709.35
1.05
1.0
3.16
2.27
0.10
Lower Zone
7.84
1
Length refers to drillhole length in metres 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.
2
Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.
3
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: 2025-2026 Surface Drill Collar Information
HOLE ID
UTM East
UTM North
Elevation
Dip
True North
Azimuth
Hole Length
Comment
SMD-25-203
582550.8
7564012.8
905.8
-78.2
109.9
2,010.4
SMD-25-204
583002.8
7564891.7
893.8
-78.4
114.8
2,146.9
SMD-25-205
582693.6
7563648.3
903.9
-77.7
117.4
1,799.5
SMD-25-206
582643.8
7563224.1
905.2
-81.1
108.2
13.1
Abandoned due to
excessive deviation
SMD-25-207
582644.0
7563223.9
905.4
-81.2
108.2
1,737.6
SMD-26-208
582752.1
7563358.1
903.6
-77.0
111.5
1678.2
SMD-26-209
582465.3
7563469.4
908.0
-74.1
101.9
1,880
Planned Depth
Drilling in progress
SMD-26-210
582807.4
7563850.3
901.2
-75.1
114.7
1,825
Planned Depth
Drilling in progress
SMD-26-211
582519.8
7563779.5
906.5
-75.0
111.3
2,100
Planned Depth
Drilling in progress
HOLE ID
UTM East
UTM North
Elevation
Dip
True North
Azimuth
Hole Length
Comment
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
The program is being executed using two company-owned underground Zinex U5 drills which were
converted into surface A5 drills, and a new Marcotte HTM2500 drill purchased by the Company capable
of drilling to depths of 2,550 metres (NQ core) which arrived on site in July 2025.
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 Batswana 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 invaluable because of the size of the highly conductive mineralized system.
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 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-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
1-833-770-4334
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.
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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
potential for additional high-grade resource expansion adjacent to the existing Selebi Main deposit;
the potential to add significant tonnes in future MRE updates. 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. Such assumptions include, without
limitation: the Company's ability to successfully complete its planned exploration and drilling
programmes; the geological interpretations of the Selebi Main deposit are accurate and additional
mineralization can be identified; the Company will have sufficient funding and resources to carry out
its exploration activities; the regulatory environment will remain favourable and all required permits
and approvals will be obtained in a timely manner; general economic and market conditions will
remain stable; and the Company's ability to retain qualified personnel. 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 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/285533