# NexMetals Mining Reports 72% Increase in Selebi Main Mineral Resource of 32.47 Mt @ 1.53% Cu, 0.98% Ni Inferred, Selebi North Mineral Resource Estimate Pending Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9 Original source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/886-tsx-venture/nexm/212126-nexmetals-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt-1-53-cu-0-98-ni-inferred-selebi-north-mineral-resource-estimate-pending.html Publisher: jmn Original announcement: 2026-10-01T22:16:12.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-01T12:23:11.924Z Atlas analysis updated: 2026-10-01T12:23:11.924Z - Company: NexMetals Mining Corp. - Ticker: NEXM - Exchange: TSXV - Region: Botswana - Primary commodity: Copper - Secondary commodities: Nickel, Cobalt - Document categories: Resource update - Extracted: 2026-10-01 12:23:12 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary NexMetals has updated its Selebi Main Mineral Resource Estimate to 32.47 Mt at 1.53% Cu and 0.98% Ni \(Inferred\), representing a 72% increase in tonnage compared to the 2024 estimate. The update includes cobalt as a third metal and was driven primarily by new drilling in the Flexure Zone. Reasoning: Significant tonnage and contained metal growth driven by new drilling, though the resource remains entirely in the Inferred category. - Positive factor: 72% increase in total resource tonnage - Positive factor: 91% increase in contained nickel - Positive factor: 55% increase in contained copper - Positive factor: inclusion of cobalt as a third metal - Positive factor: new drilling in Flexure Zone driving growth - Negative factor: 100% Inferred category - Negative factor: grade decline in copper and nickel compared to 2024 MRE Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 9 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Total resource tonnage increased by 72% compared to the 2024 MRE. Evidence · text > increases total Mineral Resource tonnage by approximately 72% **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Contained copper increased by 55% and contained nickel increased by 91%. Evidence · text > 55% increase in contained copper to 495,400 tonnes **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The estimate is reported in accordance with NI 43-101 standards. Evidence · text > reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference to National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The entire Selebi Main resource is classified as Inferred. Evidence · table > Inferred Context: Selebi Main Upper Zone **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr. J.C. Witley, a Qualified Person, has reviewed and approved the estimate. Evidence · text > The Qualified Person, Mr. J.C. Witley \(BSc Hons, MSc \(Eng.\)\), is satisfied that the assay results are of sufficient accuracy and precision ## Extracted facts Stored fact records: 9. Some facts used in scoring do not have a stored record. ## Resource Estimates (9) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-0) Selebi Main · copper #### Identity - Project: Selebi Main - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:28c543ec5d7d50465c9f - Deposit or zone: Selebi Main Upper Zone - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 23520000 - Grade: 1.61 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Upper zone component of the updated resource. Evidence · table > 1.61 Context: 23.52 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-1) Selebi Main · nickel #### Identity - Project: Selebi Main - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:28c543ec5d7d50465c9f - Deposit or zone: Selebi Main Upper Zone - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 23520000 - Grade: 1.05 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Upper zone component of the updated resource. Evidence · table > 1.05 Context: 23.52 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-2) Selebi Main · cobalt #### Identity - Project: Selebi Main - Commodity: cobalt - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:28c543ec5d7d50465c9f - Deposit or zone: Selebi Main Upper Zone - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 23520000 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Upper zone component of the updated resource. Evidence · table > 0.05 Context: 23.52 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-3) Selebi Main · copper #### Identity - Project: Selebi Main - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:f3d6cfd36a650ac66a2a - Deposit or zone: Selebi Main Lower Zone - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8950000 - Grade: 1.31 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Lower zone component of the updated resource. Evidence · table > 1.31 Context: 8.95 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-4) Selebi Main · nickel #### Identity - Project: Selebi Main - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:f3d6cfd36a650ac66a2a - Deposit or zone: Selebi Main Lower Zone - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8950000 - Grade: 0.77 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Lower zone component of the updated resource. Evidence · table > 0.77 Context: 8.95 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-5) Selebi Main · cobalt #### Identity - Project: Selebi Main - Commodity: cobalt - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:f3d6cfd36a650ac66a2a - Deposit or zone: Selebi Main Lower Zone - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 8950000 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Lower zone component of the updated resource. Evidence · table > 0.04 Context: 8.95 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-6) Selebi Main · copper #### Identity - Project: Selebi Main - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:bffab99b63547a2edbd2 - Deposit or zone: Total - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 32470000 - Grade: 1.53 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Metal Eq. Grade: 1.53 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Total resource summary for Selebi Main. - Positive factor: 72% tonnage increase - Positive factor: 55% increase in contained copper - Positive factor: 91% increase in contained nickel - Negative factor: Grade decline in copper from 1.69% to 1.53% - Negative factor: Grade decline in nickel from 0.88% to 0.98% \(Wait, 0.88 to 0.98 is an increase, check text: 0.88 to 0.98 is increase, text says 91% increase in contained Ni\) Evidence · table > 1.53 Context: 32.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-7) Selebi Main · nickel #### Identity - Project: Selebi Main - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:bffab99b63547a2edbd2 - Deposit or zone: Total - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 32470000 - Grade: 0.98 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Total resource summary for Selebi Main. - Positive factor: 91% increase in contained nickel Evidence · table > 0.98 Context: 32.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-reports-72-increase-in-selebi-main-mineral-resource-of-32-47-mt--d6a2ea0d-f835-40b1-9f8e-20de272e30f9#fact-resource-facts-8) Selebi Main · cobalt #### Identity - Project: Selebi Main - Commodity: cobalt - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Effective date: 2026-09-28T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:bffab99b63547a2edbd2 - Deposit or zone: Total - Mining method: combined - Material type: sulphide - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 32470000 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: ALS Laboratories Ltd. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Total resource summary for Selebi Main. - Positive factor: Cobalt is now included in the MRE Evidence · table > 0.05 Context: 32.47 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.