Mr. Morgan Lekstrom reports

NEXMETALS ANNOUNCES ANNUAL EQUITY INCENTIVE GRANTS

Nexmetals Mining Corp. has granted annual equity incentive awards to certain directors, officers, employees and consultants pursuant to the company's omnibus equity incentive plan.

The board of directors has approved the grant of restricted share units (RSUs) representing an aggregate of 332,512 common shares to certain officers, employees and consultants. Of this amount, 287,512 RSUs have been granted at a deemed price of $7.60 per RSU, representing the 90-day volume-weighted average price of the company's shares on the TSX Venture Exchange as of Nov. 7, 2025, and reflecting a 55-per-cent premium to the company's closing share price on Nov. 17, 2025. These RSUs will vest annually in equal thirds beginning on the first anniversary of the date of grant. A further 45,000 RSUs have been granted to certain officers and consultants at a deemed price of $8.80 per RSU, representing a 79-per-cent premium to the company's closing share price on Nov. 17, 2025. These RSUs will vest in full on the first anniversary of the date of grant.

The company has also granted deferred share units (DSUs) representing an aggregate of 46,600 common shares to directors at a deemed price of $7.60 per DSU. The DSUs will be payable in cash and settled in accordance with the terms of the plan.

The equity incentive grants are intended to align the interests of directors, management, employees and consultants with those of shareholders and to support the company's long-term retention and performance objectives.

Further information regarding the plan is set out in the company's management information circular dated as of April 28, 2025, and filed on May 6, 2025, which is available under the company's profile on SEDAR+.

About Nexmetals Mining Corp.

Nexmetals Mining is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the company in the Republic of Botswana.

Nexmetals is committed to governance through transparent accountability and open communication within its team and its stakeholders. Nexmetals' team brings extensive experience across the full spectrum of mine discovery and development. Collectively, the team has contributed to dozens of projects, including work on the company's Selebi and Selkirk mines. Senior team members each have, on average, more than 20 years of experience spanning geology, engineering, operations and project development.