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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 21, 2025

 

NEXMETALS MINING CORP.

(Exact name of registrant as specified in its charter)

 

Ontario, Canada

(State or other jurisdiction of incorporation)

 

001-42750   N/A

(Commission File Number)

 

(IRS Employer Identification No.)

     

Suite 3400, One First Canadian Place

P.O. Box 130

Toronto, Ontario, Canada

  M5X 1A4
(Address of principal executive offices)   (Zip Code)

 

(604) 770-4334

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Shares, no par value   NEXM  

Nasdaq Stock Market LLC

(Nasdaq Capital Market)

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 7.01 Regulation FD Disclosure.

 

On August 21, 2025, NexMetals Mining Corp. (the “Company”) issued a news release reporting assay results from an additional drill hole intersecting high-grade mineralization at the Selebi North Underground. A copy of this press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference. The Company undertakes no obligation to update, supplement or amend the materials attached hereto as Exhibit 99.1.

 

The information in this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Exchange Act or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press Release dated August 21, 2025 (furnished herewith pursuant to Item 7.01).
104   Cover Page Interactive Data File (embedded within Inline XBRL document).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  NEXMETALS MINING CORP. (Registrant)
   
  By: /s/ Morgan Lekstrom
    Morgan Lekstrom
    Chief Executive Officer

 

Date: August 21, 2025

 

 

 

Exhibit 99.1

 

NexMetals Drills 19.40 Metres of 3.93% CuEq Including 4.02% CuEq Over 13.55 Metres Showing Continuity of High-Grade Mineralization in the Expansion of the Selebi North Deposit

 

Vancouver, British Columbia, August 21, 2025 NexMetals Mining Corp. (TSXV: NEXM) (Nasdaq: NEXM) (the “Company” or “NEXM”) reports assay results from an additional drill hole successfully intersecting high-grade mineralization at the Selebi North Underground (“SNUG”) deposit. Drill hole SNUG-25-189 was designed to test the continuity of mineralization and confirms a significant extension of the South Limb and N2 mineralization.

 

Highlights

 

Drill Hole SNUG-25-189: intersected South Limb and N2 Limb (Figure 1)

 

South Limb: 4.90 metres of 4.39% CuEq (0.73% Cu, 1.77% Ni)

N2 Limb: 19.40 metres of 3.93% CuEq (1.05% Cu, 1.40 % Ni)

Including: 13.55 metres of 4.02% CuEq (0.74% Cu, 1.60% Ni)

 

Recent results confirm that the mineralization continues at greater depths, strengthening confidence in the size and continuity of the deposit.

 

Drilling is ongoing to evaluate the strike extent of this new mineralization, with assay results pending for SNUG-25-191, which intersected mineralization in South Limb. SNUG-25-192 currently in progress.

 

 

Figure 1: Location of drill holes relative to the 2024 Mineral Resource Estimate and underground infrastructure.

 

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Morgan Lekstrom, CEO of the Company, commented: “Drilling continues to highlight consistent high-grade copper, nickel, and cobalt mineralization extending past the limits of the 2024 resource, reinforcing the potential for further expansion. These next holes including drill hole 189, are designed to evaluate the lateral extent of this mineralization and tie the datasets together, with the goal of increasing both the size and confidence of the deposit. Drilling is ongoing, and this release represents the first results from that program.”

 

Assay results have been received and reported below in Table 1 and drill hole collar details are provided in Table 2. Assays are pending for all other drill holes described herein.

 

The various mineralized zones have been historically mined and subsequently named N2 Limb, N3 Limb and South Limb to demarcate their location on the folded mineralized horizon. Additional drilling is needed to properly determine true width of mineralization on each limb and define the folded mineralization.

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID 

From

(m)

  

To

(m)

  

Length

(m)1

  

Cu

(%)

  

Ni

(%)

  

Co

(%)2

   Limb   CuEq
(%)3
 
SNUG-25-189   715.50    720.40    4.90    0.73    1.77    0.09    South Limb    4.39 
SNUG-25-189   814.85    834.25    19.40    1.05    1.40    0.08    N2    3.93 
incl   814.85    828.40    13.55    0.74    1.60    0.09    N2    4.02 
incl   814.85    820.40    5.55    0.89    1.90    0.10    N2    4.81 
and   831.40    834.25    2.85    2.86    0.88    0.05    N2    4.68 

 

 

1Length refers to drillhole length and not true width. True widths are unknown.

2Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.

3CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu, and nickel and copper recoveries of 72.0% and 92.4%, respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID  Mine East   Mine North   Elevation   Dip  

Mine

Azimuth

   Hole Length   Comment 
SNUG-25-189   35368.1    84409.7    81.1    -60.9    167.5    1028.5    Rig #2 810mL P5 

 

Qualified Person

 

All scientific and technical information in this news release has been reviewed and approved by Sharon Taylor, VP Exploration of the Company, MSc, P.Geo, and a “qualified person” for the purposes of National Instrument 43-101 and Subpart 1300 of Regulation S-K.

 

Quality Control

 

Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

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Technical Report

 

The MRE on the Selebi Mine is supported by the technical report entitled “Technical Report, Selebi Mines, Central District, Republic of Botswana” and dated September 20, 2024 (with an effective date of June 30, 2024) (the “Selebi Technical Report”), and prepared by SLR Consulting (Canada) Ltd. for NEXM. Reference should be made to the full text of the Selebi Technical Report, which was prepared in accordance with NI 43-101 and Subpart 1300 of Regulation S-K and is available on SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov), in each case, under NEXM’s issuer profile.

 

About NexMetals Mining Corp.

 

NexMetals Mining Corp. is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the Company in the Republic of Botswana.

 

NexMetals is committed to governance through transparent accountability and open communication within our team and our stakeholders. NexMetals’ team brings extensive experience across the full spectrum of mine discovery and development. Collectively, the team has contributed to dozens of projects, including work on the Company’s Selebi and Selkirk mines. Senior team members each have on average, more than 20 years of experience spanning geology, engineering, operations, and project development.

 

For further information about NexMetals Mining Corp., please contact:

 

Morgan Lekstrom

CEO and Director

[email protected]

 

Jaclyn Ruptash

V.P., Communications and Investor Relations

[email protected]

 

Follow Us

 

X: https://x.com/NexMetalsCorp

LinkedIn: https://www.linkedin.com/company/NexMetalsMiningCorp

Facebook: https://www.facebook.com/NexMetalsMiningCorp

 

Neither the TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Nasdaq Stock Market LLC accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Cautionary Note Regarding Forward-Looking Statements

 

This news release contains “forward-looking statements” within the meaning of the United States federal securities laws and “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking information”) based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to: ongoing and expected drilling at SNUG; possible expanded mineralization beyond the existing MRE; the release of assay results and the expected timing thereof; the expectation the mineralized corridor continues at depth; the expected continuity and scale of the South Limb and N2 mineralized systems, the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the expectation that exploration activities (including drill results) will accurately predict mineralization; the expectation that the Company will implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the effective targeting activities proposed by the Company; the benefits of the Company’s approach to exploration; management’s belief that the historical resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; the risk that mineralized corridor will not continue at depth; the risk that assay results will not be as anticipated or received when anticipated; the risk that continuity and scale of the South Limb and N2 mineralized systems will not be as expected; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s filings with the U.S. Securities and Exchange Commission on EDGAR (www.sec.gov) and public disclosure record on SEDAR+ (www.sedarplus.com), in each case, under NEXM’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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