NexMetals Accelerates Drilling at Selkirk Deposit by Adding Another Drill for Resource Expansion

Toronto, Ontario--(Newsfile Corp. - June 24, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (OTC Pink: PRMLF) (the "Company") announces a drilling progress update and that a second drill has been added to support the surface drilling program currently underway at its past-producing copper-nickel-cobalt-platinum group elements ("Cu-Ni-Co-PGE") Selkirk Mine in Botswana. The addition of the second drill is intended to accelerate ongoing work programs focused on resource expansion and metallurgical flowsheet development.

Highlights

• Second Drill Rig Now Added - With two rigs now active on-site, the 12-hole program will advance more rapidly, allowing for increased efficiency in twinning historical holes, validating legacy data, and generating new intercepts to support an updated resource model.

• Drilling Progress to Date - A total of ~2,050 metres have been drilled across six holes, with the seventh and eight holes currently underway. The drilling targets zones of known mineralization as well as areas prioritized for potential resource expansion (figure 1). Assay results are expected in mid-July.

• Ongoing Resampling of Historical Core - 34 historical holes have been identified for continued resampling to further support the updated geological model. To date, 29 of 34 holes have been processed, relogged and resampled for a total of 8,707 metres.

• Metallurgical Testing Underway - Metallurgical studies are ongoing, focused on supporting the development of a modern metallurgical flowsheet including the potential for XRT pre-concentration. This work will be incorporated into an updated Mineral Resource Estimate ("MRE") and future economic evaluations.

Figure 1: Location of planned drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/256577_80347a7ae4980b00_002 ...

Morgan Lekstrom, CEO of the Company, commented: "We are accelerating work at both Selebi and Selkirk to highlight the growth potential of these historic deposits. A second drill has been added at Selkirk to rapidly advance our metallurgical studies and potential resources expansion. Historically, Selkirk had a resource over 125 million tonnes (see historic resource) however, previous operators did not consistently assay for cobalt, palladium or platinum, and this data gap is the main reason for our resampling program. Combined with ongoing drilling, this work will enhance our understanding of the deposit and help unlock value through a modern metallurgical approach. With both Selebi and Selkirk having a history of production, we are building on a solid foundation and we believe that modern technology offers significant upside as we advance toward future resource growth and redevelopment."