Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (NASDAQ: NEXM) ("NEXM" or the "Company") announces that, following a transitional period, effective January 31, 2026, Mr. Morgan Lekstrom will be stepping down as Chief Executive Officer and will continue to serve the Company on the board of directors (the "Board"). Mr. Sean Whiteford, who currently serves as President of the Company, will be appointed as the Company's Chief Executive Officer.During his ...

Core Viewpoint - NexMetals Mining has secured unencumbered title to its Selebi and Selkirk copper, nickel, cobalt, and platinum group element assets, marking a significant milestone for the company [1][2]. Financing and Institutional Support - NexMetals raised CDN $80 million at $5.70 per unit through equity financing, with a lead order from Condire Investors LLC [2]. - The financing increased institutional ownership from 30% to 75% and eliminated legacy debt, which had previously created market overhang [6]. - The funds will be used to meet a US$25 million contingent milestone payment and to accelerate growth and project derisking [5]. Operational Developments - NexMetals has made significant progress in metallurgical breakthroughs at its Selebi Mines, allowing for the production of both copper and nickel concentrates [9][11]. - The copper concentrate has a grade of 27.6% with an 87% recovery rate, providing a strategic advantage with lower capital and operational expenditures [11][12]. - The company has drilled 231 meters at Selkirk, establishing scale and grade potential with a 1.09% CuEq average, including 97 meters of 1.28% CuEq [13][14]. Market Context and Strategic Importance - The demand for critical metals, particularly for green energy transformation, has surged, with copper prices increasing by 115% over the last five years [19]. - Botswana's government, under President Duma Boko, is focused on diversifying its mining sector beyond diamonds, which have historically dominated its economy [17]. - NexMetals aims to play a significant role in Botswana's economic evolution through its copper-nickel projects [17].

Core Points - NexMetals Mining Corp. has granted annual equity incentive awards to directors, officers, employees, and consultants under its Omnibus Equity Incentive Plan [1][3] - The Board approved the grant of 332,512 restricted share units (RSUs), with 287,512 RSUs priced at $7.60 each, reflecting a 55% premium over the closing share price on November 17, 2025 [2] - An additional 45,000 RSUs were granted at a price of $8.80 each, representing a 79% premium to the closing share price [2] - The company also granted 46,600 deferred share units (DSUs) to directors at a price of $7.60 each, which will be payable in cash [3] - The equity incentive grants aim to align the interests of stakeholders with those of shareholders and support long-term retention and performance objectives [3] Company Overview - NexMetals Mining Corp. focuses on the redevelopment of previously producing copper, nickel, and cobalt resource mines in Botswana [5] - The company emphasizes governance through transparent accountability and open communication [6] - The team at NexMetals has extensive experience in mine discovery and development, with senior members averaging over 20 years in geology, engineering, operations, and project development [6]

Core Points - NexMetals Mining Corp. successfully closed a public offering of units, raising gross proceeds of C$80 million at a price of C$5.70 per unit [1][4] - Condire Investors, LLC became a new shareholder with a 9.9% stake in the company following the offering [3] - The net proceeds will be used for prepayment of a milestone payment under an Asset Purchase Agreement for the Selebi and Selkirk mines, exploration activities in Botswana, and general corporate purposes [4][5] Offering Details - Each unit consists of one common share and one warrant, with warrants allowing the purchase of additional shares at C$8.00 until November 17, 2027 [2] - EdgePoint Investment Group participated in the offering, acquiring 1,578,500 units for approximately C$9 million, increasing their stake to about 17.6% [3] - The offering included a cash commission of 6.0% of gross proceeds, totaling C$4,512,017 [5] Future Plans - The company plans to use the funds to secure title to the Selebi and Selkirk assets and accelerate growth and project derisking [5] - The offering is subject to final approval from the TSX Venture Exchange, with conditional approval for the listing of warrants [7] Insider Participation - Insiders subscribed for a total of 1,695,000 units, which is considered a related party transaction [8] - The company is relying on exemptions from formal valuation and minority shareholder approval requirements due to the participation not exceeding 25% of the company's market capitalization [8]

Financial Position and Capitalization - The Company completed a significant recapitalization on March 18, 2025, which included a $46.0 million non-brokered equity private placement and the conversion of a $20.9 million term loan, enhancing its financial position[142]. - A non-binding letter of interest from the Export-Import Bank of the United States indicates potential financing of up to $150 million for the redevelopment of the Company's Mines[144]. - The Company announced a brokered public offering on October 28, 2025, with an upsized offering of 14,035,100 units at $5.70 per unit, aiming for gross proceeds of up to $80 million[144]. - The Company plans to use the net proceeds from a public offering to fund exploration and development activities at the Mines, with gross proceeds expected to be up to $80,000,070[209]. - The Company had $14,117,843 in cash and cash equivalents as of September 30, 2025, up from $6,105,933 at the end of 2024[208]. Exploration and Resource Development - The Selkirk Mineral Resource Estimate (MRE) filed on January 31, 2025, supports advancing the Selkirk deposit to an economic study, with a focus on high-quality Cu-Ni-Co-PGE resources[141]. - The Company is executing an exploration drilling program at the Selebi Mines, with anticipated costs for exploration and development ranging from $1.9 million to $2.5 million by December 31, 2025[147]. - The Selebi Mines have an Indicated Mineral Resource of 3.00 million tonnes at 0.90% Cu and 0.98% Ni, and an Inferred Mineral Resource of 24.72 million tonnes at 1.50% Cu and 0.92% Ni[156]. - The Selebi North Underground Resource Expansion Drilling program has drilled approximately 8,173 metres in 14 holes, with assays for about 41,189 metres across 91 completed holes not included in the 2024 Selebi Mines MRE[161]. - Drill hole SNUG-25-186 extended South Limb mineralization by 315 metres down-plunge, representing a 35% increase beyond the 2024 Selebi Mines MRE[159]. - The Selebi Hinge drilling program has completed 9,014 metres, with two completed holes and four currently in progress, aimed at demonstrating broader scale potential[166]. - A total of 3,903 metres were drilled in a 12-hole surface drilling program at Selkirk, with highlights including 201 metres of 0.91% CuEq and 210 metres of 1.06% CuEq[182]. - The Company is focusing on advancing metallurgical testwork and preparing an updated Mineral Resource Estimate (MRE) following the completion of its 2025 drilling programs[191]. - A Preliminary Economic Assessment for the Selebi Mines is underway, focusing on mine design, process engineering, and capital cost estimation[170]. Financial Performance and Expenditures - The Company has incurred $8,465,855 in exploration and evaluation expenditures for the three months ended September 30, 2025, compared to $7,988,816 for the same period in 2024[172]. - For the three months ended September 30, 2025, the Company incurred exploration and evaluation expenditures of $2,084,888, a significant increase from $606,725 in the same period of 2024[189]. - General exploration expenses rose to $10,658,319 for the three months ended September 30, 2025, compared to $8,628,426 in 2024, reflecting an increase of $2,029,893[200]. - The net loss for the nine months ended September 30, 2025, was $46,321,544, up from $31,145,332 in the same period of 2024, indicating a year-over-year increase of 48.7%[200]. - Cash flows from operating activities for the nine months ended September 30, 2025, were $(35,106,741), an increase of $8,439,102 compared to $(26,667,639) in 2024[202]. - The Company incurred a net loss of $16,004,468 for the three months and $46,321,544 for the nine months ended September 30, 2025, compared to a net loss of $12,004,960 and $31,145,332 for the same periods in 2024[214]. - Total expenditures for the three months ended September 30, 2025, amounted to $10,658,319, with drilling costs at $2,309,664[226]. - For the nine months ended September 30, 2025, total expenditures reached $27,131,192, with drilling costs at $6,731,474[227]. Corporate Governance and Strategic Direction - The Company adopted a new long-term omnibus incentive plan on June 3, 2025, replacing previous stock option and share unit plans[144]. - The Company changed its name from "Premium Resources Ltd." to "NexMetals Mining Corp." on June 9, 2025, and began trading under the new symbol "NEXM" on June 11, 2025[144]. - Investor relations and communications expenses increased by $1,641,848 for the three months ended September 30, 2025, due to efforts to enhance market awareness of the Company's new strategic direction[201]. Risk Management and Accounting - The Company has not generated profitable operations from its resource activities to date, raising substantial doubt about its ability to continue as a going concern[214]. - The Company has the option to cancel milestone payments for the Selebi Mines if deemed uneconomical, with no conditions met for the remaining milestone payments as of September 30, 2025[216]. - The Company has provisioned $140,000 for remediation work at the Maniitsoq Nickel-Copper-PGM Project for the nine months ended September 30, 2025[198]. - The Company holds a 100% interest in the Halcyon property and is obligated to pay $8,000 per annum in net smelter return advances[195]. - As of September 30, 2025, the Company had commitments for capital expenditures of $156,650 and outstanding milestone payments of $25,000,000 and $30,000,000 related to the Selebi APA[215]. - The Company has a royalty obligation of 5% on precious metals sales and 3% on base metals sales to the Botswana Government[218]. - The fair value of the NSR option liability is $2,750,000 as of September 30, 2025[229]. - A one percentage point change in interest rates would result in a $16,967 change in annual interest expense for the Company[233]. - A 5% increase in USD would result in a net loss before tax of $89,376, while a 5% increase in BWP would lead to a net loss before tax of $86,344[235]. - The company manages liquidity risk by regularly monitoring cash flows against its budget and deferring discretionary expenditures as needed[237]. - There have been no significant changes to critical accounting estimates and judgments since the last annual report, except for debt extinguishment accounting[239]. - The company adopted ASU 2023-09 on income tax disclosures effective January 1, 2025, which will require additional disclosures in the financial statements[240]. - ASU 2024-03, effective January 1, 2027, will require disaggregated disclosures of specified expense categories, and the company is currently assessing its impact[241]. - The company's credit risk is primarily associated with cash and cash equivalents, limited to the carrying value of these instruments[236]. - The company evaluates its accounting estimates based on historical experience and known trends, with actual results potentially differing under different conditions[238]. - Market risk disclosures have been omitted as permitted under rules applicable to smaller reporting companies[242].

Core Points - NexMetals Mining Corp. has filed a final short form prospectus for a public offering of up to 14,035,100 units at a price of $5.70 per unit, aiming for gross proceeds of up to $80,000,070 [1][2] - The closing of the offering is anticipated to occur on November 17, 2025, with conditional approval from the TSX Venture Exchange [2] - The final prospectus is accessible on SEDAR+ and can be obtained from SCP Resource Finance LP [3] Company Overview - NexMetals Mining Corp. is focused on the redevelopment of previously producing copper, nickel, and cobalt mines in Botswana [5] - The company emphasizes governance through transparent accountability and has a team with extensive experience in mine discovery and development [6]

Core Viewpoint - NexMetals Mining Corp. has increased the size of its public offering from C$65 million to C$80 million due to strong demand from institutional investors, marking the second upsizing of the offering [1][3]. Offering Details - The offering will consist of up to 14,035,100 Units, with no over-allotment option available [3]. - Agents will receive a cash fee of 6% of the gross proceeds, with a reduced fee of 2% for sales to certain individuals on a "president's list" for gross proceeds up to C$7 million [3]. - Each Unit will include one common share and one common share purchase warrant, allowing the holder to acquire one common share at a price of C$8.00 for 24 months following issuance [3]. Use of Proceeds - The net proceeds from the offering are intended for the prepayment of the first contingent milestone payment under the Asset Purchase Agreement for the Selebi and Selkirk mines, exploration and development activities in Botswana, and general corporate purposes [4]. Closing Timeline - The offering is expected to close on or about November 13, 2025, pending necessary approvals [5]. Company Overview - NexMetals Mining Corp. focuses on the redevelopment of previously producing copper, nickel, and cobalt resources in Botswana [7]. - The company's team has extensive experience in mine discovery and development, with senior members averaging over 20 years in the industry [9].

Core Insights - NexMetals Mining has confirmed significant mineralization at Selebi North, with a 32.60-meter continuous mineralization interval, including 19.90 meters of massive sulphide [1][8][22] Company Overview - NexMetals Mining owns two previously producing Cu-Ni-Co mines in Botswana, a mineral-rich Tier 1 mining jurisdiction [2] - The Selebi mining complex has a history of production, with operations running for over four decades and a capacity of up to 10,000 tonnes per day [2] Recent Developments - The recent drilling results at Selebi North validate the continuity of mineralization and will be incorporated into an updated Mineral Resource Estimate (MRE) [5][22] - The drilling program at Selebi North has been aggressive, with multiple significant results reported over the past six months, including a notable 27.55 meters of 4.97% CuEq [10] Infrastructure and Operations - The Selebi North Mine is equipped with a 3.5-meter diameter shaft and a twin 7° decline trucking ramp, facilitating efficient drilling campaigns [5][6] - The infrastructure supports cost-effective exploration and development activities [6] Market Context - There is a growing demand for critical metals, particularly copper, driven by the green energy transformation, with copper prices increasing by 109% over the last five years [21] - Botswana's government is focusing on diversifying its economy beyond diamonds, with copper production seen as a key area for economic growth [18][19] Future Prospects - The results from the recent drilling will support potential resource expansion at Selebi North, with additional assays pending for further confirmation of mineralization scale and continuity [22]

Core Insights - NexMetals Mining (NEXM) has released assay results from two additional drill holes in its metallurgical drilling program at the Selkirk Mine in Botswana, indicating significant mineralization and potential for resource expansion [1][3][8] Company Overview - NexMetals Mining acquired the Selkirk Mine in August 2022 and has been focused on de-risking the project to support future development decisions [3] - The Selkirk Mine is a past-producing copper-nickel-cobalt-platinum group elements mine located in Botswana, 28 kilometers southeast of Francistown [2] Drilling Program Results - The 12-hole drill program aimed to collect samples for metallurgical testing and validate legacy data, with the latest results showing wide intervals of continuous mineralization [3][8] - Notable results include drill hole SMET-25-004, which returned 210.00 meters of 1.06% CuEq, and drill hole SMET-25-001, which showed 45.00 meters of 0.69% CuEq [3][4][8] Mineral Resource Estimate - The current cut-off for the mineral resource estimate (MRE) is set at US$25.00 per tonne net smelter return, translating to 0.46% CuEq, indicating that any material above this cut-off could be mined [7][10] - The technical report revealed inferred mineral resources of 44.2 million tonnes at 0.30% copper, 0.24% nickel, 0.55 g/t palladium, and 0.12 g/t platinum, containing significant quantities of copper and nickel [10] Market Context - The demand for critical metals, particularly copper, has surged due to the green energy transformation, with copper prices increasing by 92% over the last five years [21] - Botswana is looking to diversify its economy beyond diamonds, with copper production being a key focus for economic diversification [18][19] Future Catalysts - Upcoming catalysts for NexMetals Mining include resource expansion, metallurgical results, and optimization efforts, which are expected to unlock the full value and long-term potential of the Selkirk mine [8][16]

Core Viewpoint - NexMetals Mining has achieved a significant metallurgical breakthrough at its Selebi Mines in Botswana, allowing for the production of both copper and nickel concentrates, which may reduce capital expenditures and operational complexities [1][3][4]. Company Overview - NexMetals Mining owns two previously-producing copper-nickel-cobalt mines in Botswana, a Tier 1 mining jurisdiction [1]. - The Selebi Mines were operational from 1980 to 2016, producing 40 million tonnes of ore before being placed in Care & Maintenance due to low metal prices and smelter issues [2]. Metallurgical Breakthrough - The metallurgical program has created the option to produce saleable copper and nickel concentrates without the need for an on-site smelter, leading to significant reductions in capital expenditure and operational complexity [3][4][9]. - Initial recoveries show a copper concentrate with a grade of 27.6% and an 87% recovery rate, while nickel concentrate has a grade of 10.5% with a 55.9% recovery rate [7][8]. Economic Context - The demand for critical metals, particularly copper, has surged due to the green energy transformation, with copper prices increasing by 92% over the last five years, from USD $2.36/lb to $4.50/lb [11]. - Botswana's economy, traditionally reliant on diamond exports, is looking to diversify through copper production, which is seen as a key area for job creation and economic growth [16][17]. Future Prospects - The results from the metallurgical advancements will be incorporated into an updated mineral resource estimate, expected to show significant improvements over previous estimates [19]. - The company has received substantial investment, with a $46 million equity financing round, indicating strong institutional interest in its assets [12].