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The Future Critical Metals Supply Chain Company

  • Cu | COPPER
  • Ni | NICKEL
  • Co | COBALT
  • Pt | PLATINUM
  • Pd | PALLADIUM
Corporate Presentation
June 26 2025 Town Hall Replay

Selebi Mine

Selkirk Mine

DISTRICT SCALE CRITICAL METALS SUPPLY CAMP

Safe, Scalable, And In Mining Friendly Botswana

Past-Producing & Permitted

Selebi and Selkirk Mines - proven assets ready to deliver.

Built-in Infrastructure

With two existing shafts, power, water, and rail already in place.

Each Deposits Open at Depth

Strong potential for underground expansion and long-life, scalable production.

Raised C$46M March 2025

Experienced new management and strategic advisory group backed by Frank Giustra.

Botswana: A Tier-One Mining Jurisdiction

Stable democracy with mining laws aligned with Canadian standards.

Significant, Growing Resource Base

Selebi Mine*: (Cu:Ni = ~3:2) Indicated: 3.0 Mt @ 2.92% CuEq, Inferred: 24.7 Mt @ 3.40% CuEq
Selkirk**: Inferred 44.2 Mt @ 0.81% CuEq

*NexMetals Selebi Mines NI 43-101 Mineral Resource Estimate Technical Report effective date: June 30, 2024
**NexMetals Selkirk Project NI 43-101 Mineral Resource Estimate Technical Report effective date: November 1, 2024

Selebi Mine

NI 43-101

Project Overview

Selkirk Mine

NI 43-101

Project Overview

HISTORICAL EVOLUTION

Selebi & Selkirk Mines

1970s

DISCOVERY & DEVELOPMENT

  • 1970 – Construction begins on the processing plant along with Phikwe #1 Shaft and Selebi Main #2 Shaft, developed by BCL Limited.
  • 1972 – BCL commences mining operations at the Phikwe Open Pit.
  • 1973 – Commissioning of BCL’s smelter leads to the first nickel-copper matte production.

1980s

EXPANSION OF BOTSWANA'S NICKEL-COPPER PRODUCTION

  • 1980 – SELEBI MAIN START OF PRODUCTION; Shaft #2 commissioned, initiating underground production with a hoisting capacity of approximately 900,000 tonnes per year.
  • 1989 – SELKIRK (TNMC) STARTS UNDERGROUND PRODUCTION; ore directly supplied to the BCL smelter in Selebi-Phikwe for processing.

1990s

DIVERSIFICATION AND NEW MINE DEVELOPMENT

  • 1990 – SELEBI NORTH START OF PRODUCTION expanding the Selebi operations.
  • 1995 – TNMC’s Phoenix Mine begins production, supported by the commissioning of a new concentrator facility.
  • 1997–1998 – Construction of Selebi North #4 Shaft completed, with hoisting capacity of approximately 600,000 tonnes per year. Increasing the combined Selebi Mines operations capacity to over 1.5Mt annually.

2000s

FROM DISCOVERY TO DEFINITION:
THE SELKIRK STORY

  • 2002 – Selkirk (TNMC) ends underground production. 2003-2008: drilling to evaluate Selkirk’s open-pit potential.

Selkirk Historical Resource Evaluations

  • 2007: (March) LionOre Mining reports an initial NI 43-101 MRE of 230.6 Mt Indicated of 0.21% Cu and 0.24% Ni.

  • 2007: (November) following the Norilsk Nickel Africa acquisition of Selkirk, a geological interpretation updates resources to 130.7 Mt Measured & Indicated of 0.22% Cu and 0.19% Ni.

  • 2008: (November) Anglo American plc, in conjunction with Norilsk Nickel and TNMC geologists, reports 214.9 Mt Measured & Indicated at 0.21% Cu and 0.18% Ni, and 19.2 Mt Inferred at 0.24% Cu and 0.21% Ni.

2010s

CONTINUED EVALUATIONS AND RESOURCE REFINEMENT AT SELKIRK

  • 2013: (January) Norilsk Nickel introduces sub-celling of the block model, recategorizing portions of the Selkirk resource from Indicated to Inferred under JORC; 128.4 Mt Measured & Indicated (0.23 % Cu, 0.21 % Ni) and 123.8 Mt Inferred (0.19 % Cu, 0.32 % Ni).
  • 2014: Norilsk Nickel sells TNMC and the Selkirk asset to BCL Limited, consolidating ownership of Botswana’s major base-metal operations.
  • 2016: (September) BCL Limited publishes an updated Selkirk estimate of 52.2 Mt Measured & Indicated (0.31 % Cu, 0.32 % Ni) and 24.0 Mt Inferred (0.04 % Cu, 0.24 % Ni).

2015

BCL SMELTER FAILURE

A smelter failure halts production; the Government of Botswana invests roughly US $100 million in refurbishment, though operations never resume.

2016

END OF AN ERA

BCL Limited and TNMC mines enter care and maintenance, ending continuous production at Selebi-Phikwe.

2017

BEGINNING OF OPPORTUNITY

BCL placed into liquidation; assets, including Selebi Mines and Selkirk Mine, offered for sale as a package but remain unsold.

Cumulative Production

  • Selebi Main (1980 – 2016): ≈ 26 Mt mined

  • Selebi North (1990 – 2016): ≈ 14 Mt mined

2020

NEXM INDICATIVE OFFER AND EXLUSIVE DUE DILIGENCE

NexMetals Mining Corp. (NEXM) submits an indicative offer to acquire the Selebi and Selkirk deposits, structured separately from the remediation liabilities tied to other BCL assets.

Following a competitive process, NEXM is selected as the preferred bidder and granted exclusivity to advance detailed due diligence and transaction negotiations.

2022

STRATEGIC ACQUISITIONS COMPLETED

  • January 2022 – NEXM finalizes the Asset Purchase Agreement (APA) for the acquisition of the Selebi Mines, marking a major milestone in the Company’s growth strategy.
  • August 2022 – NEXM completes a separate Asset Purchase Agreement for the Selkirk Deposit, securing ownership of two cornerstone nickel-copper assets in Botswana.

2024

NI 43-101 MRE REPORT

In accordance with NI 43-101 standards, NexMetals Mining Corp. (NEXM) published two independent Mineral Resource Estimates in 2024:

  • Selebi Mines (effective June 30, 2024) — 3.0 Mt Indicated @ 2.92 % CuEq; 24.7 Mt Inferred @ 3.40 % CuEq

  • Selkirk Deposit (effective November 1, 2024) — 44.2 Mt Inferred @ 0.81 % CuEq

These results establish a strong technical foundation for advancing both projects toward future economic studies.

Extended Study Phase

November 2024 – Extended Study Phase: NEXM extends the Selebi Mines Study Phase by one year, deferring the US $25 million milestone payment to February 1, 2026, to enable additional technical and economic evaluations.

2025

ADVANCING GROWTH AND RESOURCE EXPANSION POTENTIAL

March 2025 – NexMetals Mining Corp. (NEXM) completes a C$46 million equity financing, providing the capital base to advance its redevelopment strategy across the Selebi and Selkirk projects.

Selebi Mines – Launch of the Accelerated Expansion Program, including step-out and infill drilling to extend mineralized zones and support a future resource update.

Selkirk Deposit – Initiation of surface drilling to expand the known resource and generate samples for metallurgical test work and flowsheet development, building on 2024’s NI 43-101 Mineral Resource Estimate.

Recent Media

Assay Update from Selkirk $NEXM drills 210m @ 1.06% CuEq – confirming continuous mineralization & growth potential in Botswana. Hear from CEO, Morgan Lekstrom
“Metallurgical Breakthrough” Listen to Sean Whiteford explain how our results de-risk our assets and provide lower-cost pathways.
An incredible moment for $NEXM – ringing the @Nasdaq Closing Bell! Huge thanks to the Nasdaq team for a seamless day, and to Andy Hall for making it unforgettable. A milestone we’ll carry forward with pride into what’s next.
$NEXM CEO @MLekstrom joins @davidlin_TV to talk Botswana’s copper, nickel & PGEs, why the country is a top mining jurisdiction, and NexMetals’ next milestones.

Recent News

NexMetals Announces C$65 Million Public Offering of Units
NexMetals Metallurgical Assay Results Confirm Clean Copper & Nickel-Cobalt Concentrates from Selebi Mines
NexMetals Announces Continuance into British Columbia

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