NexMetals Mining Corp.

A new 30,000-metre surface drill program at Selebi Main's 'Flexure Zone' hit another strong intercept (11.15 metres at 7.65% CuEq), part of a growing kilometre-scale trend of thick, high-grade sulphides that remains open beyond the known resource.

drilling result

NexMetals raised its Selkirk resource estimate 70%, to about 1.1 billion pounds of copper-equivalent indicated plus 200 million pounds inferred, driven by better metallurgical recovery assumptions and adding cobalt, silver and gold as payable metals for the first time.

resource reserve update

New surface drilling at Selebi Main extended high-grade mineralization 320 metres beyond the 2024 resource boundary (10.40 metres at 6.82% CuEq), reinforcing that the combined Selebi Main/North system - already holding a resource of about 3 million tonnes indicated and 24.7 million tonnes inferred - keeps growing at depth.

drilling result

NexMetals wrapped up its 34-hole Selkirk resampling program with its best interval yet (180.8 metres at 1.31% CuEq) plus a new high-grade footwall exploration target (6.9 metres at 7.92% CuEq) - all assays now in hand for an updated resource estimate - and separately engaged an investor-relations advisory firm.

drilling result

Selebi North drilling continued to confirm high-grade continuity down-plunge (32.45 metres at 4.61% CuEq, including 9.65 metres at 5.88%), with the drill rig set to move on to surface exploration for a 2026 program at the nearby Selebi Main deposit.

drilling result

The final three holes of the 2025 Selkirk metallurgical program wrapped up with more strong results (231 metres at 1.09% CuEq, including 97 metres at 1.28%), finding mineralization both above and below the existing resource - all of it now set to feed an updated resource estimate.

drilling result

Riding its string of strong drill results, NexMetals lined up a bought-deal-style public offering for up to C$80 million (14 million units at C$5.70, each with a warrant exercisable at C$8.00 for two years), led by SCP Resource Finance with Raymond James and Cormark as co-agents.

material agreement

Metallurgical test work on Selebi bulk samples confirmed the deposit can produce clean, smelter-grade copper and nickel-cobalt concentrates - low in penalty elements - opening a path to restart production without needing to build an on-site smelter or hydrometallurgical plant.

drilling result

Further Selkirk metallurgical-program assays continued to show scale and consistency (219 metres at 1.03% CuEq, including 157 metres at 1.21%), with 8 of 11 planned holes now reported.

drilling result

More Selkirk drilling found a wide, near-surface interval (210 metres at 1.06% CuEq, including 74 metres at 1.28%) outside the current resource, supporting the case for low-strip-ratio open-pit development.

drilling result

A re-assay program at the past-producing Selkirk mine in Botswana returned strong results both inside the existing resource (107 metres at 0.94% CuEq) and outside it (123 metres at 0.47% CuEq), and added previously unmeasured platinum-group-element value that could expand the resource.

drilling result

Drilling at the Selebi North copper-nickel-cobalt deposit in Botswana hit high-grade mineralization at depth (19.40 metres of 3.93% copper-equivalent, including 13.55 metres at 4.02%), confirming the deposit extends beyond its 2024 resource estimate.

drilling result

the exchange certified NexMetals Mining Corp.'s securities for listing, clearing them to begin trading.

listing compliance notice

NexMetals completed a 20-for-1 share consolidation (428.99 million shares down to about 21.45 million), a step taken specifically to meet Nasdaq's $4.00 minimum bid price requirement after the company applied to dual-list on Nasdaq in April 2025.

security holder rights change