NextSource Materials Confirms Uninterrupted Mine Operations and Shipments of SuperFlake® Graphite from Madagascar
NextSource Materials Confirms Uninterrupted Mine Operations and
Shipments of SuperFlake® Graphite from Madagascar
NEWS RELEASE – TORONTO, October 17 , 2025
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or the “Company”) wishes
to confirm that operations at its Molo Graphite Mine in southern Madagascar and shipments of its
SuperFlake® graphite concentrate remain unaffected by the current political situation in
Madagascar.
Mining and processing activities at the Molo mine continue under normal conditions, with the
Company maintaining its regular campaign production and logistics schedules. Shipments of
SuperFlake® graphite to international customers are proceeding from the port of Tulear without
disruption.
NextSource maintains close engagement with community stakeholders to ensure continued
collaboration and stability around its operations and reaffirms its ongoing commitment to the well-
being of its employees, the local community, and to social development programs in Madagascar,
which continue as planned.
The Company continues to monitor events in Antananarivo, Madagascar’s capital city, located
approximately 900 kilometres from its Molo operations, and will provide further updates if warranted.
About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent
on becoming a vertically integrated global supplier of battery materials through the mining and
value-added processing of graphite and other minerals.
The Company’s Molo graphite project in Madagascar is one of the largest known and highest -
quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine
has begun production through Phase 1 mine operations.
The Company is also developing a significant downstream graphite value-add business through
the staged rollout of Battery Anode Facilities capable of large -scale production of coated,
spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully
transparent and traceable manner. The Company is now in the process of developing its first BAF
in the UAE.
NextSource Materials is listed on the Toronto Stock Exchange under the symbol “NEXT” and on
the OTCQB under the symbol “NSRCF".
For further information about NextSource Materials, please visit our website at
www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation,
Executive Vice President at [email protected],
Safe Harbour: This press release contains statements that may constitute “forward-looking information” or “forward-looking
statements” within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not
to place undue reliance on forward-looking information or statements. Forward looking statements and information are
frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”,
“possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, “expected” or “should”
occur. Forward-looking statements include any statements regarding, among others, timing of construction and completion
of the BAF and proposed timing of future locations of additional BAFs, timing and completion of front-end engineering and
design and ESIA permitting, the economic results of the BAF Technical Study including capital costs estimates, operating
costs estimates, payback, NPV, IRR, production, sales pricing and working capital estimates, the construction and potential
expansion of the BAFs, expansion plans, as well as the Company’s intent on becoming a fully integrated global supplier of
critical battery and technology materials. These statements are based on current expectations, estimates and assumptions
that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from
those anticipated by the Company and described in the forward-looking statements contained in this press release. No
assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any
of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news
release are made as at the date of this news release and the Company does not undertake any obligation to update publicly
or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except
as may be required by applicable securities laws. Although the forward-looking statements contained in this news release
are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual
results will be consistent with them. These forward-looking statements are made as of the date of this news release and are
expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does
not assume any obligation to update or revise the forward -looking statements contained herein to reflect events or
circumstances occurring after the date of this news release.