By Morgan Lekstrom
CEO of NexMetals Mining
We’ve made meaningful progress toward our goal: redevelop the historic Selebi Mines and rapidly demonstrate the true scale of the deposits for future restart. This project carries a rich legacy and today presents a rare opportunity to deliver both economic value and long-term community revitalization.
Selebi’s roots run deep. Exploration at the Selebi Project in Botswana began in 1959, with the first copper-nickel discovery made in 1963. By the 1970s, development was underway, and for decades, the mine helped fuel the vibrant local economy of Selebi Phikwe (population ~52,000). At its peak, the operation supported more than 5,000 jobs and life in Selebi Phikwe thrived with schools, businesses, and families all connected to the mine’s success.
Since the closure of the mine in 2016, the region has faced significant hardship. Today, we are laying the groundwork to change that.
Our team in Botswana includes over 300 people, many with deep knowledge of underground mining and machinery. Their experience and commitment are key to what comes next.
Technically, the Selebi Main and Selebi North deposits are compelling.
The Selebi Main Deposit is equipped with an operational vertical rock shaft (“Shaft #2”), which began production in 1980. The service shaft extends down to the 300-metre level, where a cable belt conveyor decline continues to the 850-metre level. The shaft itself is 375 metres deep, 6.1 metres in diameter, concrete-lined, and reinforced with steel buntons (horizontal struts) at 6-metre intervals.
The Selebi North Deposit is serviced by a separate vertical shaft (“Shaft #4”) and commenced operations in 1990. This shaft is 3.5 metres in diameter and reaches the 745-metre level. It is complemented by a twin 7° decline trucking ramp that extends to the 900-metre level.
In 2024, the Company published an NI 43-101 Mineral Resource Estimate (MRE) highlighting the significant scale and grade of the deposits:
- Selebi Main Deposit: Inferred MRE of 18.89 Mt at 3.51% CuEq
- Selebi North Deposit: Indicated MRE of 3.00 Mt at 2.92% CuEq; Inferred MRE of 5.83 Mt at 3.11% CuEq[1]
This is a strong foundation and reflects the quality and commitment of our leadership team. The team driving the exploration of Selebi (and Selkirk) includes:
- Sharon Taylor, VP of Exploration, is a respected geophysicist with prior roles at Falconbridge, Noranda, and Xstrata. Sharon brings extensive experience in airborne, ground and downhole EM methods, and plays a central role in advancing our geophysical targeting and interpretation.
- Sean Whiteford, President, is a seasoned geologist and mining executive who has held corporate, operational and technical roles at BHP, Rio Tinto and Cliffs Natural Resource. Sean has technical and budgetary oversight on the Botswana operations including exploration and engineering studies.
- Boris Kamstra, Chief Operating Officer and Mine Development Lead, is a civil engineer with an MBA and career spent developing projects across Sub-Saharan Africa. His turning mining plans into operating realities is instrumental to our redevelopment efforts.
Together, this team is advancing not only the Selebi Mines but also our nearby Selkirk project, something I’ll speak more about in my next message.
The infrastructure surrounding Selebi gives us significant strategic advantages. Roads and rail networks, water, and reliable power supplied through a dedicated 220KV substation all support our redevelopment plans. Even the local airport at Selebi Phikwe, though currently without commercial flights, remains operational with untapped potential as the region grows.
We understand the responsibility that comes with this work. Restoring the Selebi Mines is not just about restarting operations, it’s about reigniting opportunity; not just for our shareholders, but for the people of Selebi Phikwe. This is more than a mining project. It’s a chance to bring back jobs and opportunity to a town that once bustled with life.
Thank you for being part of our journey. I look forward to sharing more with you soon. In the next message to NexMetals Mining shareholders, I will explain why our Selkirk project is important.
By Morgan Lekstrom
CEO of NexMetals Mining
[1.] The MRE on the Selebi Project is supported by a 2024 Technical Report, available here. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein. Copies of The Technical report are also available on SEDAR+ (www.sedarplus.com) under NEXM’s issuer profile.
Qualified Persons
All scientific and technical information in this message has been reviewed and approved by Sharon Taylor, VP Exploration of the Company, MSc, P.Geo, who is a “qualified person” for the purposes of NI 43-101.
