Recent developments for NexMetals include significant drilling results indicating mineralization continuity and expansion potential, corporate governance changes, and capital raising activities.

• NexMetals reported 11.05 metres of 7.31% CuEq in hole SMD-25-205 located 130 metres down-dip from the Selebi Main resource within the emerging Selebi Main Flexure Zone [N1][N2].
• The company announced board resignation and appointment changes in February 2026 [N3].
• NexMetals welcomed former Kinross Gold COO Warwick Morley-Jepson to its board of directors in January 2026 [N4].
• The company initiated a CEO succession plan in December 2025 [N6].
• NexMetals closed an $80 million public offering in November 2025 to fund operations and asset payments [N7][N8].
• First Atlantic announced a no warrant private placement financing to advance the Pipestone XL project, related to NexMetals' activities [N5].

NexMetals has reported multiple significant drilling intercepts indicating continuity and expansion potential of mineralization at its Botswana projects, supported by metallurgical assay results confirming the production of high-grade concentrates. The company has secured key asset titles and completed substantial capital raises, including an $80 million public offering, providing funding for near-term operations and asset payments. Recent board and executive appointments bring experienced leadership to support advancement. These factors contribute to a clearer path toward resource development and potential value creation.

NexMetals remains an exploration-stage company with no current profitable operations and a history of net losses. The company depends on external financing to fund its activities and faces risks related to securing adequate capital, operational challenges in mining exploration, and commodity price volatility. Material uncertainties exist regarding its ability to continue as a going concern. The success of its projects is subject to exploration risks, and there is no assurance that mineral resources will be economically viable or that future financing will be available on favorable terms.

NexMetals' moat is primarily based on its ownership and control of strategically located copper-nickel-cobalt exploration and evaluation assets in Botswana, including the Selebi and Selkirk mines. The company has demonstrated technical progress through drilling results and metallurgical testing that support the potential for producing separate high-grade copper and nickel-cobalt concentrates. Its ability to secure title to these assets and raise capital for advancement provides a foundation for potential future development. However, as an exploration-stage company, its moat is subject to risks inherent in mineral exploration, including resource uncertainty, capital requirements, and operational execution.

• Exploration and Development Risk: As an exploration-stage mining company, NexMetals faces risks related to the uncertainty of mineral resource estimates, the ability to develop economically viable mining operations, and the potential for unsuccessful exploration results.
• Financing Risk: The company depends on external financing to fund its exploration and development activities. There is uncertainty regarding the availability and terms of future capital, which could impact operations and project advancement.
• Commodity Price Volatility: NexMetals' business is sensitive to fluctuations in commodity prices for copper, nickel, cobalt, and platinum-group elements, which can affect project economics and financing opportunities.
• Operational Risks: The company faces operational risks inherent in mining exploration and development, including regulatory compliance, environmental and social governance challenges, and management execution risks.

• NexMetals Mining Corp. is a Canadian company headquartered in Vancouver, British Columbia.
• The company is engaged in exploration and evaluation of copper, nickel, cobalt, and platinum-group elements primarily at the Selebi Main, Selebi North, and Selkirk mines in Botswana.
• NexMetals' common shares trade on Nasdaq and TSXV under the ticker symbol NEXM.
• The company completed a share consolidation in June 2025, adjusting share counts and warrant terms accordingly.
• As of June 30, 2026, NexMetals had cash and cash equivalents of CAD 16,956,564 and current assets of CAD 18,733,464, with current liabilities of CAD 3,631,875, resulting in a current ratio of 5.16 and a cash ratio of 5.3, indicating strong liquidity.
• The company reported a net loss of CAD 11,863,297 for the quarter ending June 30, 2026, with basic and diluted EPS of CAD 0.33 per share for the same period.
• NexMetals has wholly owned subsidiaries and holds mining properties and mineral rights in Botswana, including the Selebi and Selkirk assets.
• The company has ongoing exploration drilling programs with reported significant mineralization intercepts, including 11.05 metres of 7.31% CuEq in hole SMD-25-205 down-dip from the Selebi Main resource [N1][N2].
• NexMetals has announced board changes and executive appointments, including welcoming a former Kinross Gold COO to the board and initiating a CEO succession plan [N3][N4][N6].
• The company completed an $80 million public offering in late 2025 to fund operations and asset payments [N7][N8].
• NexMetals secured title to the Selebi and Selkirk assets in Botswana following milestone payments in December 2025.
• The company has reported metallurgical assay results confirming the ability to produce separate high-grade copper and nickel-cobalt concentrates from the Selebi mines.
• NexMetals' business activities involve risks typical of exploration-stage mining companies, including capital raising challenges, operational risks, and commodity price volatility [S1][S2].
• The company’s consolidated financial statements have been prepared on a going concern basis but note material uncertainties related to achieving profitable operations and securing future financing [S1].
• NexMetals has a diversified portfolio of exploration and evaluation assets and property, plant, and equipment totaling approximately CAD 52 million as of December 31, 2025 [S1].
• The company’s liabilities include current and non-current trade payables, vehicle financing, mortgage payable, and a term loan which was extinguished by the end of 2025 [S1].
• NexMetals has a history of raising capital through public offerings and private placements to fund exploration and development activities [N5][N7][N8].
• The company’s recent news releases provide detailed drilling results and technical updates supporting the continuity and expansion potential of mineralization at its Botswana projects [N1][N2].