Mr. Sean Whiteford reports

NEXMETALS FILES NI 43-101 TECHNICAL REPORT FOR 2026 SELKIRK MINERAL RESOURCE ESTIMATE

Nexmetals Mining Corp. has filed an independent National Instrument 43-101 -- Standards of Disclosure for Mineral Projects technical report supporting the 2026 mineral resource estimate (the 2026 MRE) for its Selkirk project in Botswana, originally announced on June 24, 2026. Selkirk is a past-producing copper-nickel-platinum-group-element (PGE) project located approximately 75 kilometres northeast of the company's flagship Selebi project.

The 2026 MRE outlines an indicated mineral resource of 78.2 million tonnes grading 0.66 per cent copper equivalent (CuEq), containing approximately 1.1 billion pounds of copper equivalent, together with an inferred mineral resource of 15.1 million tonnes grading 0.60 per cent CuEq, containing approximately 200 million pounds of copper equivalent. The 2026 MRE increases the Selkirk project's CuEq metal inventory by approximately 70 per cent and reflects a significant conversion of mineral resources from the inferred to indicated category following a successful reassaying and twin drilling campaign.

The technical report, entitled "NI 43-101 Technical Report - June 2026 Mineral Resource Estimate Selkirk Nickel-Copper-PGE Project, Botswana," was prepared by The MSA Group Pty. Ltd. (MSA), with an effective date of June 22, 2026. The technical report has been filed under the company's profile on SEDAR+, furnished under the company's profile on EDGAR and is also available on the company's website. The company plans to file a related Regulation S-K 1300-compliant technical report on a current report on Form 8-K on EDGAR as soon as reasonably practicable. There are no material differences between the technical report and the mineral resource estimate previously disclosed.

Mineral resource data and quality control

The historical sampling data was collected by the previous owner and operator, Tati Nickel Mining Company (TNMC), which included Ni (nickel) and Cu (copper) assays and selective Pd (palladium), Pd and Au (gold) assays. The historical data were verified through completion of 11 twin diamond drill holes and approximately 6,000 samples taken for assay from the remaining TNMC core by Nexm. Resampling included intervals previously sampled by TNMC, as well as some extension sampling, and included a full suite of elements including Ni (nickel), Cu (copper), Co (cobalt), Pt (platinum), Pd (palladium), Au (gold) and Ag (silver). Statistical checks completed by MSA revealed no material bias between the historical and recent sample assays.

Data from drill holes completed prior to TNMC, as well as TNMC underground drilling and channel sampling, was not verifiable and was not included in the 2026 MRE. A total of 216 diamond drill holes were used to estimate the 2026 MRE, including the TNMC drill holes, Nexm's twin drilling and an infill drill hole completed by Nexm.

The TNMC assays were completed at the TNMC Phoenix Laboratory. At the time of preparation and analysis, TNMC owned both the Phoenix mine and Selkirk, and the laboratory was not independent of the operator. From 2011, the Phoenix Mine Laboratory held accreditation with the South African National Accreditation System (SANAS), and with the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025 for chemical analyses. Ni and Cu were analyzed by XRF, and Pt, Pd and Au by 50-gram lead collection fire assay. Relative density measurements were obtained by water immersion method.

The company's drill core was logged, photographed and marked for sampling in nominal lengths of one metre. The core samples were cut in half longitudinally using a rotating diamond saw. The bagged core samples were given a unique sample reference number, bagged and despatched to ALS Laboratories Ltd. in Johannesburg, South Africa, for analysis (SANAS Accredited Testing Laboratory, No. T0387). Samples were analyzed for Ni, Cu and Co using a peroxide fusion preparation and inductively coupled plasma atomic emission spectrometry (ICP-AES) finish (ME-ICP81). Analyses for Pt, Pd and Au were by fire assay (30 g nominal sample weight) with an ICP-AES finish (PGMICP23), also by ALS. A suite of 48 elements, including Ag, was analyzed using a four-acid digest and ICP-AES finish (ME-ICP61). Specific gravity measurements were also completed by ALS.

Nexm's drilling and resampling was subjected to a comprehensive program of quality assurance and quality control by the company, independent of the laboratories' own QA/QC measures, including certified reference materials (5 per cent), blank samples (5 per cent), coarse duplicate samples (5 per cent) and pulp duplicate samples (5 per cent). The qualified person (QP), J.C. Witley (BSc, honours, MSc (Eng)), is satisfied that the assay results are of sufficient accuracy and precision for use in mineral resource estimation.

Mineral resource estimate

The 2026 MRE was completed by The MSA Group in Johannesburg, South Africa.

The 2026 MRE was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines and is reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference into NI 43-101.

The Selkirk mineral resource is contained within the Selkirk meta gabbro, which is a massive roughly subvertical body plunging at a moderate dip to the south-southwest approximately 300 to 450 m wide and has been intersected by drilling from surface to over 500 m deep. Sulphide mineralization consists primarily of disseminated pyrrhotite and chalcopyrite and veins and pods of massive sulphide. The Selkirk meta gabbro has been intruded by several phases of later dikes which are barren.

Estimation comprised modelling of the Selkirk metagabbro, dikes and a surface representing the base of oxidation, followed by the construction of an implicit probability mineralized shell within the metagabbro including drill hole sample intervals greater than an NSR (net smelter return) value of $20 (U.S.). A three-dimensional block model with parent cells of 20 mX by 20 mY by 10 mRL and appropriate subcelling was used to estimate metal grades and density by ordinary kriging. Volumes representing mined voids and oxidized material were removed and dikes were assigned grades of zero. NSR was then calculated for each block model cell using the estimated grades, metal prices, recoveries, off-site costs and payabilities. The mineral resource model was classified into the indicated and inferred categories, taking into account data quality, geological modelling uncertainty, drill hole spacing and kriging outputs. The majority of the indicated mineral resource is informed by drill holes closer than 60 metres apart up to maximum spacing of 75 m.

The mineral resource was reported using a NSR-based optimized pit shell. Using concentrate costs of $20 (U.S.)/tonne, G&A (general and administrative) of $1.35 (U.S.) per tonne and royaltis of 3 per cent for base metals and 5 per cent for precious metals, blocks that occur within the pit shell with estimated NSR above $25 (U.S.)/tonne satisfy cut-off grade criteria and, together with the optimized pit shell, the QP considers that reasonable prospects for eventual economic extraction (RPEEE) for the mineral resource have been demonstrated.

Qualified persons

J.C. Witley (BSc, honours, MSc (Eng)) is a geologist with more than 35 years of experience in base and precious metals exploration and mining as well as mineral resource evaluation and reporting. He is head of mineral resources for The MSA Group (an independent consulting company), is registered as PrSciNat with the South African Council for Natural Scientific Professions (SACNASP) and is a fellow of the Geological Society of South Africa (GSSA). Mr. Witley has the appropriate relevant qualifications and experience to be considered a qualified person for the style and type of mineralization and activity being undertaken as defined in NI 43-101 and is considered independent of Nexm pursuant to NI 43-101. Mr. Witley has reviewed and approved the technical and scientific information within this news release pertaining to the 2026 MRE.

Verification included a site visit by the QP to inspect historical mineralized core, observe existing infrastructure, including the Selkirk underground ramp and remains of massive sulphide stockpiles at surface, and inspect several surface drill hole collar locations (both historical and recent). The mineralization in five of the twin holes was inspected by the QP. In addition, a selection of samples collected by Nexm have been verified against independently accessed assay certificates, and a random selection of historical database results have been compared against digital records.

Renee Goold, PEng, is a metallurgist with 17 years of experience in the base and precious metals mining industry. Her experience encompasses the full range of project development, from scoping studies through detailed design and into operations. Ms. Goold is the manager of processing and metallurgy at Fuse Advisors (a part of SLR) and is registered as a professional engineer with Engineers and Geoscientists British Columbia (EGBC).

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, vice-president of exploration of the company, MSc, PGeo, who is a qualified person for the purposes of National Instrument 43-101.

About Nexmetals Mining Corp.

Nexmetals Mining is a TSX-V- and Nasdaq-listed mineral exploration and development company focused on redeveloping the past-producing Selebi and Selkirk copper-nickel-cobalt-platinum group element mines in Botswana. At Selebi, the company has confirmed the scale of mineralization is larger than historical estimates, supported by NI 43-101- and Regulation S-K 1300-compliant resource estimates, with continuing down-hole geophysics, drilling and metallurgical programs aimed at expanding resources and supporting future economic studies. The company is led by an experienced management and technical team with a proven record in global mineral projects, emphasizing disciplined execution, transparent governance and long-term stakeholder value creation.

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