NexMetals Extends Trend of Thick Massive Sulphides to 1.45 Kilometres with Visual Intercept in Hole SMD-26-219 at Selebi Main

Visual drill results extend mineralized trend, but no assays or resource upgrade yet.

Risk flags

• ●The announcement is based solely on visual estimates of mineralization, not assay-confirmed grades. Visual identification of sulphides does not guarantee economic concentrations of copper, nickel, or other metals, and prior experience in the sector shows that visual results can overstate commercial potential.
• ●No financial data, cost disclosures, or funding details are provided. The absence of cash position, burn rate, or exploration budget figures prevents assessment of the company's ability to sustain long-term exploration or complete the 2026 Mineral Resource Estimate.
• ●The timeline to value is long, with the next resource estimate not expected until Q3 2026. This exposes investors to extended execution risk, including potential delays, cost overruns, or negative assay results that could undermine the current narrative.
• ●Forward-looking statements about resource growth, model enhancements, and future exploration targets are not supported by quantitative evidence. The company's claims of being 'on track' for future milestones are not substantiated by disclosed progress metrics or third-party validation.

Bottom line

This announcement signals technical progress in extending the mineralized trend at Selebi Main, but all results are visual and unconfirmed by assays. No resource, reserve, or economic milestone has been achieved, and the next substantive catalyst—the 2026 Mineral Resource Estimate—is more than two years away. The lack of financial disclosure means investors cannot assess capital sufficiency or cost discipline. While the engagement of TECT Geological Consulting and the review by a qualified person add procedural credibility, they do not guarantee future resource growth or economic value. The most important takeaway is that this is an early-stage exploration update with no immediate investment impact; confirmation of value will require assay results and, ultimately, a compliant resource estimate. Investors should treat the current narrative as preliminary and wait for quantitative results before reassessing the investment case.

Announcement summary

(TSXV:NEXM, NASDAQ:NEXM) NexMetals Mining Corp. reported visual results from drill hole SMD-26-219, which intersected multiple thick intervals of semi-massive and massive sulphide mineralization, extending the high-grade mineralized trend by approximately 450 metres beyond previously reported drilling at the Flexure Zone of the Selebi Main deposit in Botswana. The emerging high-grade trend now extends to 1.45 kilometres, with SMD-26-219 located approximately 450 metres down-plunge of SMD-25-205 (11.05 metres of 7.31% CuEq) and 175 metres along strike of SMD-26-213 (22.90 metres of 3.02% CuEq). SMD-26-219 intersected a 20.0 metre mineralized zone in the Main Zone and a 7.55 metre interval in the Lower Zone, including 6.60 metres of massive sulphides. The 2026 Mineral Resource Estimate remains on track for completion in the third quarter of 2026, with drill holes completed after the July 31 resource cut-off date, including SMD-26-219, not included in the 2026 MRE. The company has engaged TECT Geological Consulting to develop an integrated three-dimensional geological and structural model for Selebi North and Selebi Main. All scientific and technical information in this news release has been reviewed and approved by Sharon Taylor, V.P. 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.

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