Vancouver, British Columbia--(Newsfile Corp. - October 27, 2026) - Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) ("Nexcel" or the "Company") is pleased to announce that a diamond drill rig has mobilized to the Company's Burnt Hill Tungsten Project (the "Project"), located near Boiestown in central New Brunswick. This follows the execution of an Exploration License Agreement with Miramichi Timber Holdings Limited and its land manager J.D. Irving, Limited ("JDI"), granting surface access over the Project area. Drilling is being carried out by ICor Drilling Services ("ICor"), an independent, Canadian-owned diamond drilling contractor based in Penobsquis, New Brunswick.

Highlights

• Drill mobilized: ICor has mobilized a diamond drill rig to Burnt Hill to commence the Company's inaugural drill program at the Project.
• Exploration License Agreement executed: Nexcel has secured formal land access by executing an Exploration License Agreement with landowner Miramichi Timber Holdings Limited and its land manager, J.D. Irving, Limited.
• Fully permitted: The program is permitted by the Province of New Brunswick for approximately 5,000 meters of diamond drilling from up to 15 drill pad locations (see news release dated June 23, 2026).
• Initial seven-hole program: Six step-out holes along strike from the Burnt Hill deposit at approximately 100-metre offsets to test the extension of known mineralization, plus one infill hole through the main zone mineralization.
• Historical core relog continuing: Relogging and resampling of 10 high-priority historical drill holes is proceeding in tandem with drilling.

Drill Program

The drill permit, issued by the New Brunswick Department of Natural Resources and Energy Development on June 19, 2026, authorizes Nexcel to complete an initial exploration program of approximately 5,000 meters of diamond drilling from up to 15 drill pad locations within the historically mineralized Burnt Hill deposit area. With the surface access agreement with JDI now in place, the Company has mobilized the drill to site.

The initial phase of drilling will consist of seven holes. The first six holes are designed as step-outs along strike from the Burnt Hill deposit at approximately 100-metre offsets, to test the continuity and extent of tungsten mineralization beyond the historically drilled area. The seventh hole will be an infill hole drilled through the main zone mineralization.

The overall objective of the program is to generate modern drilling data of sufficient quality and density to support the preparation of a current mineral resource estimate in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101"). There is no certainty that the program will result in the delineation of a current mineral resource.

Historical Core Relog and Resampling

In tandem with drilling, the Company is continuing its relogging and resampling program on historical Burnt Hill drill core (see news release dated August 18, 2026). Ten high-priority historical drill holes, drilled in 1979 by Miramichi Lumber Company Ltd., are being relogged and resampled. These holes are believed to be the most significant to a potential future mineral resource estimate. Samples are being submitted to ALS Canada Ltd. in Moncton, New Brunswick, for analysis, and the results will be integrated with the new drilling data to support geological modelling.

CEO Commentary

Hugh Rogers, Chief Executive Officer of Nexcel, commented: "Mobilizing the drill to Burnt Hill is a major milestone for Nexcel and marks the start of the Company's first drill program at the Project. We thank J.D. Irving, Limited for its cooperation in finalizing surface access, and we look forward to working with ICor, a New Brunswick-based contractor, as we test the strike extensions of the deposit. Combined with the ongoing relog of historical core, this program is designed to build the dataset needed to work toward a current NI 43-101 mineral resource."

Qualified Person

Graham Giles, P.Geo., a consultant to the Company and a Qualified Person as defined under National Instrument 43-101 — Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Nexcel Metals Corp.

Nexcel Metals Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of critical mineral projects in Canada. The Company's flagship Burnt Hill Tungsten Project is located in New Brunswick and encompasses a significant land package within one of Canada's most historically significant tungsten camps. Nexcel's strategy is to advance and expand its critical minerals portfolio through systematic exploration, strategic property acquisitions and the evaluation of development opportunities in stable mining jurisdictions. The Company also has the option to acquire a 100% interest in the Lac Ducharme REE project in Quebec.

Forward-Looking Statements

All statements included in this press release that address activities, events or developments that Nexcel expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to the exploration and development of the Company's mineral properties, the timing, scope and results of the drill program at the Burnt Hill Tungsten Project, the relogging and resampling of historical drill core, and the potential preparation of a current mineral resource estimate in accordance with NI 43-101. These forward-looking statements involve numerous assumptions made by Nexcel based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Nexcel's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Nexcel does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321109