NexMetals Mining Corp.: updated mineral resource estimate for Selebi North

What happened

• On Oct 20, 2026 NexMetals Mining Corp. issued a news release announcing an updated Mineral Resource Estimate for Selebi North, one of two deposits comprising its past-producing Selebi copper-nickel-cobalt mines in Botswana.
• The company furnished the press release as Exhibit 99.1 to the Form 8-K and stated it undertakes no obligation to update, supplement or amend Exhibit 99.1.

Key details

• The filing was made as Item 7.01 (Regulation FD disclosure) and the press release is attached as Exhibit 99.1.
• The release and filing use the terms "mineral resources", "indicated mineral resources" and "inferred mineral resources" as defined under Canadian National Instrument 43-101 (NI 43-101).
• The filing notes the SEC adopted S-K 1300 on Oct 31, 2018, and states S-K 1300 is more closely aligned with NI 43-101 but differences remain; there is no assurance resources reported under NI 43-101 will be the same as under S-K 1300.
• The filing cautions that "inferred mineral resources" carry greater uncertainty and, under Canadian rules, cannot form the basis of feasibility or other economic studies except in limited circumstances under NI 43-101.

Why it may matter

• The company reported a Regulation FD disclosure (Item 7.01) that furnishes a press release with an updated mineral resource estimate for Selebi North and includes NI 43-101 cautions and discussion of differences with S-K 1300. This filing does not show why the insider traded or why the company acted.