Mr. Hugh Rogers reports

NEXCEL METALS CORP. ANNOUNCES ENGAGEMENT OF XCALIBUR FOR HELITEM AIRBORNE GEOPHYSICAL SURVEY AT BURNT HILL TUNGSTEN PROJECT

Nexcel Metals Corp. has engaged Xcalibur MPH (Canada) Ltd., a global leader in airborne geophysics, to conduct a high-resolution HeliTEM airborne electromagnetic (AEM) and magnetic survey over its Burnt Hill tungsten project located in New Brunswick, Canada.

The survey will utilize Xcalibur's advanced HeliTEM helicopter time-domain electromagnetic system, designed to detect conductive mineralization at depth and provide high-quality geophysical data to guide Nexcel's planned initial drill program. Mobilization for the commencement of the airborne survey is anticipated for approximately April 1, 2026.

Survey overview and objectives

The airborne survey is designed to target high-conductance base and precious metal mineralization, with a particular focus on identifying deep conductive bodies that may represent extensions of known tungsten mineralization at Burnt Hill.

The program represents a key step in advancing Nexcel's exploration strategy by:

• Refining subsurface targets;
• Supporting geological modelling;
• Defining high-priority drill targets for the company's planned 2026 drill campaign

Survey specifications

The program will consist of a detailed helicopter-borne survey over the Burnt Hill project area with the following parameters:

• Survey type: HeliTEM time-domain electromagnetic (TDEM) plus magnetics;
• Transmitter loop size: 21-metre loop;
• Estimated survey coverage: approximately 1,480 line kilometres;
• Primary line spacing: 100 metres;
• Tie-line spacing: 1,000 metres;
• Line orientation:
  • Survey lines: 000 degrees (north-south);
  • Tie lines: 090 degrees (east-west).

Flight paths will be controlled using advanced GPS (Global Positioning System) navigation systems to ensure precise coverage and data integrity.

The survey will be operated from a base in Fredericton, N.B., with logistical support including a fuel cache at the Burnt Hill site.

HeliTEM system capabilities

Xcalibur's HeliTEM system is one of the most advanced airborne EM systems globally and offers several key advantages:

• Low-noise receiver system enabling detection of subtle conductive responses at depth;
• Square waveform transmitter providing rapid current turnoff and enhanced near-surface sensitivity;
• Low base frequency configurations (7.5 to 15 hertz) to improve penetration depth;
• High system power (approximately 300,000 ampere-metres squared) to energize deep conductive bodies;
• Multicomponent data acquisition (X, Y and Z) enabling accurate modelling of conductor geometry.

These features make the system particularly effective for identifying deep, high-conductance targets, which are critical for tungsten and associated mineral systems.

Quality control and data integrity

The survey will be conducted to rigorous industry standards, including:

• Strict reflight criteria for data quality issues (for example, positioning, noise or data gaps);
• Noise thresholds:
  • Z component less than 0.5 nanotesla per second;
  • X/Y components less than 1.5 nanoteslas per second;
• Terrain clearance control: plus-or-minus-15-metre tolerance over extended distances;
• Daily quality control and real-time data review to ensure survey completeness.

Xcalibur will also implement a comprehensive safety management system, including presurvey risk assessments and continuing safety monitoring.

Data processing and deliverables

The company will receive a full suite of processed geophysical data and deliverables, including:

• Time-domain electromagnetic data sets;
• Magnetic data and derivatives;
• GIS-compatible (geographic information service) data sets and databases;
• Quality control products and flight path data
• Final processed geophysical products suitable for interpretation and targeting.

The data will be used to generate conductivity models and drill targets to support Nexcel's phase 1 exploration program.

Management commentary

"Engaging Xcalibur to complete a high-resolution HeliTEM airborne survey is a key milestone for Nexcel as we advance Burnt Hill into its next phase of exploration," commented Hugh Rogers, chief executive officer of Nexcel. "This survey is specifically designed to identify deeper conductive targets that have not been previously tested, positioning us to unlock additional tungsten mineralization at depth. With tungsten playing an increasingly strategic role in defence, aerospace and advanced manufacturing supply chains, we believe Burnt Hill has the potential to become a highly valuable North American asset."

Next steps

The airborne survey is expected to commence in the near term, with results to be integrated into Nexcel's exploration workflow, including:

• Target generation;
• Resource expansion potential evaluation;
• Drill program design for 2026.

Qualified person

Francis Newton, PGeo, a consultant of the company and a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the scientific and technical information contained in this news release. Mr. Newton is not independent of the company.

About Nexcel Metals Corp.

Nexcel Metals is a junior mining company engaged in the acquisition, exploration and development of mineral properties. The company is currently focused on the Lac Ducharme project, located in the province of Quebec, and the Burnt Hill project, located in the province of New Brunswick.

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