Mr. Hugh Rogers reports

NEXCEL METALS MOBILIZES DIAMOND DRILL TO BURNT HILL TUNGSTEN PROJECT, NEW BRUNSWICK, FOLLOWING EXPLORATION LICENCE AGREEMENT

A diamond drill rig has mobilized to Nexcel Metals Corp.'s Burnt Hill tungsten project, located near Boiestown in central New Brunswick. This follows the execution of an exploration licence agreement with Miramichi Timber Holdings Ltd. and its land manager J.D. Irving Ltd. (JDI), granting surface access over the project area. Drilling is being carried out by ICor Drilling Services, an independent, Canadian-owned diamond drilling contractor based in Penobsquis, N.B.

Highlights:

• Drill mobilized: ICor has mobilized a diamond drill rig to Burnt Hill to commence the company's inaugural drill program at the project.
• Exploration licence agreement executed: Nexcel has secured formal land access by executing an exploration licence agreement with landowner Miramichi Timber Holdings and its land manager, J.D. Irving.
• Fully permitted: The program is permitted by the Province of New Brunswick for approximately 5,000 metres of diamond drilling from up to 15 drill pad locations (see news release dated June 23, 2026).
• Initial seven-hole program: The company plans to drill six stepout holes along strike from the Burnt Hill deposit at approximately 100-metre offsets to test the extension of known mineralization, plus one infill hole through the main zone mineralization.
• Historical core relogging continuing: Relogging and resampling of 10 high-priority historical drill holes are proceeding in tandem with drilling.

Drill program

The drill permit, issued by the New Brunswick Department of Natural Resources and Energy Development on June 19, 2026, authorizes Nexcel to complete an initial exploration program of approximately 5,000 metres of diamond drilling from up to 15 drill pad locations within the historically mineralized Burnt Hill deposit area. With the surface access agreement with JDI now in place, the company has mobilized the drill to site.

The initial phase of drilling will consist of seven holes. The first six holes are designed as stepouts along strike from the Burnt Hill deposit at approximately 100-metre offsets, to test the continuity and extent of tungsten mineralization beyond the historically drilled area. The seventh hole will be an infill hole drilled through the main zone mineralization.

The overall objective of the program is to generate modern drilling data of sufficient quality and density to support the preparation of a current mineral resource estimate in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects. There is no certainty that the program will result in the delineation of a current mineral resource.

Historical core relogging and resampling

In tandem with drilling, the company is continuing its relogging and resampling program on historical Burnt Hill drill core (see news release dated Aug. 18, 2026). Ten high-priority historical drill holes, drilled in 1979 by Miramichi Lumber Company Ltd., are being relogged and resampled. These holes are believed to be the most significant to a potential future mineral resource estimate. Samples are being submitted to ALS Canada Ltd. in Moncton, N.B., for analysis, and the results will be integrated with the new drilling data to support geological modelling.

Chief executive officer commentary

Hugh Rogers, chief executive officer of Nexcel, commented: "Mobilizing the drill to Burnt Hill is a major milestone for Nexcel and marks the start of the company's first drill program at the project. We thank J.D. Irving Ltd. for its co-operation in finalizing surface access, and we look forward to working with ICor, a New Brunswick-based contractor, as we test the strike extensions of the deposit. Combined with the ongoing relog of historical core, this program is designed to build the data set needed to work toward a current NI 43-101 mineral resource."

Qualified person

Graham Giles, PGeo, a consultant to the company and a qualified person as defined under NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Nexcel Metals Corp.

Nexcel Metals is a Canadian mineral exploration company focused on the acquisition, exploration and development of critical mineral projects in Canada. The company's flagship Burnt Hill tungsten project is located in New Brunswick and encompasses a significant land package within one of Canada's most historically significant tungsten camps. Nexcel's strategy is to advance and expand its critical minerals portfolio through systematic exploration, strategic property acquisitions and the evaluation of development opportunities in stable mining jurisdictions. The company also has the option to acquire a 100-per-cent interest in the Lac Ducharme REE (rare earth element) project in Quebec.

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