NexMetals Reports Strong Metallurgical Results at Selkirk Project: Significant Upside for Shareholders

Key Highlights from the Latest Metallurgical Results

• Separate High-Grade Concentrates Achieved: NexMetals Mining Corp. has confirmed the ability to produce separate, saleable copper (Cu) and nickel (Ni) concentrates at its Selkirk Project in Botswana, a major advancement from historical bulk concentrate production.
• Substantial Improvement in Recoveries and Grades: Locked Cycle Tests (LCT) using large-diameter core from the 2025 drill program achieved:
  • 81.3% copper recovery at a high 30.2% Cu grade (with minimal Ni contamination at 0.62%).
  • Nickel concentrate grading 10.9% Ni at 54.4% recovery.
  • Significant precious and specialty metal recoveries in concentrates, including platinum group elements (PGEs), gold, cobalt, and silver.
• Comparison to Previous Estimates:
  • Copper recovery increased by 16% (from 70.0% to 81.3%).
  • Copper losses to tailings reduced by 56% (from 26.2% to 11.4%).
  • Nickel concentrate grade increased by 60% (from 6.8% to 10.9%).
  • Palladium recovery in total increased to 78% from 59%.
• Potential New Revenue Streams: Silver and cobalt are being assayed for the first time and are expected to be payable in copper and nickel concentrates, respectively. These, along with assayed gold and PGEs, are anticipated to add incremental value to the project.
• Resource Expansion and Updated Resource Estimate (MRE): Recent re-assaying and metallurgical data are being integrated into a new Mineral Resource Estimate (MRE), expected to be released in Q2 2026.
• Ongoing Technical De-Risking: The company is advancing flowsheet optimization and further metallurgical testing, with the aim of improving recoveries, concentrate quality, and informing future economic studies and commercial options for Selkirk.

What Shareholders Need to Know

• Major De-Risking of Selkirk Project: The successful separation of high-quality saleable concentrates and the strong step-change in recoveries and grades significantly de-risk the project, providing a clearer path toward potential production and enhanced project economics.
• Unlocking Additional Value: Newly quantified silver, cobalt, PGEs, and gold could provide meaningful incremental upside to the project’s economics, which was not fully captured in earlier studies.
• Near-Term Catalysts: The imminent release of the updated MRE in Q2 2026 and ongoing optimization work could act as major share price catalysts, especially if further improvements are realized or additional resource expansion is confirmed.
• Potential Strategic Options: Upon completion of the new MRE, NexMetals will be positioned to consider commercial options, including partnerships, spin-outs, or direct advancement toward an economic study—a potentially significant value-unlocking event for shareholders.
• Price-Sensitive Developments:
  • Significant improvements in recoveries and concentrate grades.
  • Introduction of new payable metals (silver, cobalt) not previously considered.
  • Upcoming resource update and possible resource expansion.
  • Potential for accelerated path to production and strategic transactions.

Detailed Metallurgical Results

The LCT was based on a master composite reflecting early mine plan grades: 0.26% Cu, 0.24% Ni, 0.08 g/t Pt, 0.39 g/t Pd, 0.04 g/t Au, 1.26 g/t Ag, 0.01% Co.

Optimized flotation flowsheets at fine grind sizes (91 μm P80 primary; 14 μm P80 for copper; 31 μm P80 for nickel) yielded high recoveries with low cross-contamination, and precious metals concentrated into saleable products.

Technical and Quality Controls

• Over 700 kg of fresh diamond drill core was used, targeting a range of nickel tenors for broad spatial representation.
• Rigorous sampling, QA/QC, and analytical protocols were followed, with independent verification by qualified persons.
• Metallurgical work was conducted by Blue Coast Research, with lab analysis at ALS Chemex and SGS Minerals Lakefield, all ISO/IEC 17025 accredited.

Next Steps and Outlook

• Additional flowsheet development and mineralogical studies are underway to further enhance recoveries and concentrate quality.
• Ongoing re-assaying and resource expansion drilling support a robust and potentially larger resource base for the forthcoming MRE.
• Upon completion of the updated MRE, NexMetals will evaluate a range of commercial opportunities to maximize shareholder value, potentially including partnerships, spin-outs, or advancing toward a feasibility study and project restart.

About NexMetals Mining Corp.

NexMetals Mining Corp. (TSXV: NEXM, Nasdaq: NEXM) is focused on redeveloping the past-producing Selebi and Selkirk copper-nickel-cobalt-PGE mines in Botswana. The company is supported by compliant resource estimates, ongoing geophysics, drilling, and metallurgical programs, and is led by an experienced team with a global track record in mineral development.

Contact and Further Information

CEO: Sean Whiteford
Email: [email protected]
Phone: 1-866-NEXM (6396)
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Disclaimer

This article contains forward-looking statements based on current expectations and projections regarding future events, results, or the performance of NexMetals Mining Corp. Such statements are subject to risks, uncertainties, and assumptions, including but not limited to exploration success, metallurgical recoveries, commodity prices, regulatory approvals, and funding requirements. Actual results may differ materially from those expressed or implied. Investors should consult official company filings and seek independent financial advice before making investment decisions. This summary is for informational purposes only and does not constitute investment advice.

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