Mr. Hugh Rogers reports

NEXCEL METALS COMMENCES CORE RELOGGING AND RESAMPLING PROGRAM AT THE BURNT HILL TUNGSTEN PROJECT, NEW BRUNSWICK

Nexcel Metals Corp. has commenced a core relogging and resampling program at its Burnt Hill tungsten project in central New Brunswick. The program is focused on 26 historical diamond drill holes totalling 5,687 metres, drilled at Burnt Hill in 1979 by Miramichi Lumber Company Ltd. and preserved at the New Brunswick government core storage facility at Madran, N.B.

Highlights:

• Twenty-six historical drill holes totalling 5,687 metres of core are stored at the government core storage facility at Madran, N.B., and much of this core has never been sampled.
• The stored core is in excellent condition and is amenable to detailed relogging and resampling.
• Historical sampling was limited to whole-core intervals of tungsten-bearing veins; the sediment hosted and often thinly veined mineralized core was not sampled and represents an untested opportunity.
• An independent geological consulting firm has been retained to complete geostatistical analyses in preparation for an eventual independent mineral resource estimate.
• Phase 1 drilling at Burnt Hill is expected to commence later this month.

Program overview

The 1979 drill core held at the Madran storage facility remains in excellent condition and is well suited to modern relogging and resampling. Sampling completed by Miramichi Lumber Company Ltd. at the time of drilling consisted of whole-core samples of tungsten-bearing veins only; no other intervals were sampled. In 2007, Cadillac Ventures sampled the bottom portions of most of the drill holes along the greisen intrusive contact, but narrow sediment-hosted veins, which contain low-grade tungsten, tin and molybdenum mineralization, were left unsampled. As a result, a substantial portion of the drill core has never been assayed.

The company plans to initially relog and sample five drill holes in their entirety, from top to bottom, to validate the historical assay data and build confidence in support of an eventual mineral resource estimate. Resampling priorities across the remaining holes have been ranked based on potential resource impact (tungsten-equivalent grade-thickness) and spatial distribution.

Geostatistical analysis and path to a resource estimate

The company has retained an independent geological consulting firm, which is completing a program of geostatistical work, including a spatial pairing analysis comparing the historical and modern drilling data sets and a first-pass mineral resource classification spacing analysis. This work is designed to best prepare the project for an eventual independent mineral resource estimate to be undertaken following completion of phase 1 drilling. Phase 1 drilling is expected to commence later this month.

Historical mineral resource estimate

The Burnt Hill tungsten project hosts a historic mineral resource estimate comprising an indicated mineral resource of 1,761,000 tonnes grading 0.292 per cent WO3 (tungsten trioxide), 0.007 per cent MoS2 (molybdenum disulphide) and 0.008 per cent SnO2 (tin oxide) and an inferred mineral resource of 1.52 million tonnes grading 0.263 per cent WO3, 0.008 per cent MoS2 and 0.005 per cent SnO2.

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, and the company is not treating the historical estimate as current mineral resources. The relogging and resampling program described in this news release, together with the planned phase 1 drilling, forms part of the work required to verify the historical data and support an eventual current mineral resource estimate.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Graham Giles, PGeo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Nexcel Metals Corp.

Nexcel Metals 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-per-cent interest in the Lac Ducharme REE (rare earth element) project in Quebec.

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