NexMetals Announces Upsizing of Public Offering to $80 MillionFurther Upsized from $65 Million Due to Strong DemandOctober 30, 2025 9:25 AM EDT | Source: NexMetals Mining Corp.Vancouver, British Columbia--(Newsfile Corp. - October 30, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (NASDAQ: NEXM) (the "Company" or "NEXM") is pleased to announce that it has increased the size of its previously announced "best efforts" public offering (the "Offering") of units of the Company ("Units") from up to C$6 ...

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].

Financial Performance - The net loss for the three months ended June 30, 2025, was $15,088,746, an increase of 54% compared to $9,793,192 in the same period of 2024 [188]. - The Company incurred a net loss of $15,088,746 and $30,317,076 for the three and six months ended June 30, 2025, respectively, compared to a net loss of $9,793,192 and $19,140,372 for the same periods in 2024 [211]. - Cash flows from operating activities for the six months ended June 30, 2025, were $(21,685,611), compared to $(16,679,312) in the prior year [195]. - Total expenses for the three months ended June 30, 2025, amounted to $10,337,096, with drilling costs being the largest component at $3,737,718 [229]. - For the six months ended June 30, 2025, total expenses reached $16,472,873, with drilling costs again leading at $4,421,810 [229]. Capital Structure and Financing - The Company completed a significant recapitalization in March 2025, which included a $46.0 million non-brokered equity private placement and the equity conversion of a $20.9 million three-year term loan, successfully deleveraging its balance sheet [134]. - The Company received a non-binding letter of interest from the Export-Import Bank of the United States for potential financing of up to $150 million to support the redevelopment of its Mines [134]. - The Company issued 7,666,667 units in a Private Placement at $6.00 per unit, generating gross proceeds of $46,000,000 [206]. - Working capital increased to $23,875,340 as of June 30, 2025, compared to $3,410,490 at the end of 2024, driven by the cash proceeds from the Private Placement [201]. - The Company has contractual obligations totaling $5,447,045, excluding the second installment under the Selebi APA of $34,107,500 due January 31, 2026 [242][243]. Exploration and Development - The Selkirk Mineral Resource Estimate filed on January 31, 2025, provides a foundation for advancing the Selkirk deposit to an economic study [134]. - The ongoing exploration and development costs for the Selebi Mines and Selkirk drill programs are estimated between $3.3 million to $3.7 million, with completion expected by September 30, 2025 [136]. - The Company is advancing its strategic direction with an aggressive exploration drilling program at the Selebi Mines while finalizing metallurgical work for a future economic study [134]. - The Company has drilled approximately 5,123 metres in 8 holes as part of the Selebi North Underground Resource Expansion Drilling program, with assays for approximately 38,139 metres across 86 completed holes pending [152]. - The ongoing drilling program at the Selebi Hinge is expected to consist of approximately 12,500 metres in 6 holes over an estimated period of 7 months [166]. Resource Estimates - The Company reported a total inferred mineral resource of 24.72 million tonnes at an average grade of 1.50% Ni and 0.92% Cu for the Selebi Mines as of June 30, 2024 [146]. - The South Limb mineralization at Selebi North has been extended by 315 metres down-plunge, representing a 35% increase beyond the 2024 mineral resource estimate [150]. - The Selkirk Mine Mineral Resource Estimate as of November 1, 2024, includes 44.2 million tonnes with grades of 0.30% Cu and 0.24% Ni, containing 132,000 tonnes of Cu and 108,000 tonnes of Ni [171]. Leadership and Governance - The Company appointed new board members and a new CEO in March 2025, indicating a shift in leadership to support its strategic initiatives [134]. - The Company’s common shares began trading on the Nasdaq under the symbol "NEXM" on July 16, 2025, following a consolidation of shares [134]. Cash and Assets - Total assets increased by $22,100,405 to $47,053,874 as of June 30, 2025, primarily due to higher cash balances following a Private Placement of $46,000,000 in March 2025 [189]. - The Company had $26,463,957 in cash and cash equivalents as of June 30, 2025, up from $6,105,933 at the end of 2024 [201]. - The Company's current assets increased to $29,371,370 as of June 30, 2025, up from $7,618,243 as of December 31, 2024 [227]. Risks and Commitments - 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 [211]. - The Company is exposed to interest rate risk due to variable interest rates on vehicle financing [237]. - The Company limits credit risk by holding cash and cash equivalents at highly-rated financial institutions [240]. - The Company has an option to cancel the second and third payments for the Selebi Mines if deemed not economical, with no conditions met for these payments as of June 30, 2025 [212]. - As of June 30, 2025, the Company had commitments for capital expenditures over the next 12 months of $7,180, and an aggregate purchase price of US$56,750,000 for the Selebi Mines, payable in three instalments [212].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 000-14740 PREMIUM RESOURCES LTD. (Exact name of registrant as specified in its charter) Province of Ontario, Canada ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 000-14740 WASHINGTON, D.C. 20549 FORM 10-K PREMIUM RESOURCES LTD. (Exact Name of Registrant as Specified in Its Charter) Province of Ontario, Canada N/A (State or Ot ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 000-14740 Washington, D.C. 20549 FORM 10-Q If an emerging growth company, indicate by check mark if the registrant has elected not to ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR Large accelerated filer ☐ Accelerated filer ☐ For the transition period from ____________ to ____________ Commission File Number: 000-14740 PREMIUM NICKEL RESOURCES LTD. (Exact name of regis ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-14740 PREMIUM NICKEL RESOURCES LTD. (Exact name of registrant as specified in its charter) Ontario, Canada N/ ...