NexMetals Reports 72% Increase in Selebi Main Mineral Resource of 32.47 Mt @ 1.53% Cu, 0.98% Ni Inferred, Selebi North Mineral Resource Estimate Pending

Sean Whiteford, CEO of NexMetals

“The updated Selebi Main estimate is a major milestone for NexMetals. Resource growth, driven primarily by new drilling in the Flexure Zone, exceeded our expectations and provides a stronger foundation for the next phase of technical work. Given the scale of the increase, we are reporting the Selebi Main Mineral Resource Estimate while MSA completes its work on Selebi North, which is not included in today's figures. Consistent with Selebi Main, our drilling at Selebi North has been highly successful, delivering significant intercepts down plunge and beyond Selebi North's 2024 mineral resource envelope. These results support our expectation of growth in the Selebi North resource, and we are optimistic that its forthcoming estimate will further demonstrate the size and scale of the Selebi Mines. Selebi Main also remains open beyond the limits of this estimate. Step-out drilling completed after the resource cut-off date has intersected thick, high-grade massive sulphide mineralization. Our data driven approach of using BHEM to guide our drilling has been tremendously successful and supports further growth potential both in down-dip and down-plunge directions. We continue to maintain a strong treasury position, with an approximate cash balance of $10.5 million at September 30th, supporting our ability to advance the next phase of work. Once the Selebi North Mineral Resource Estimate is complete, we will provide guidance on next steps.”