{"success":true,"data":{"pressRelease":{"id":"176566","rtpr_id":"nNFC2q0y6M-20261022","ticker":"NEXX","exchange":"","all_tickers":["NEXX"],"title":"Nexcel Metals Provides Update on Expanded Burnt Hill Tungsten Project Ahead of Phase 1 Drilling","author":"Newsfile Corp","published_at":"2026-10-22T10:00:16.921Z","article_body":"Strategic Land Expansion Surrounding the Historic Burnt Hill Tungsten System\nSets the Stage for Upcoming Phase 1 Diamond Drill Program\n\nVancouver, British Columbia--(Newsfile Corp. - October 22, 2026) - Nexcel\nMetals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) (\"Nexcel\" or the \"Company\")\nis pleased to provide additional information regarding the continued expansion\nand consolidation of its Burnt Hill Tungsten Project (\"Burnt Hill\" or the\n\"Project\") in New Brunswick, Canada, as the Company prepares to commence its\nfully permitted Phase 1 diamond drill program.\n\nAs announced on October 16, 2026, Nexcel entered into an agreement to acquire\na 100% interest in two claims comprising 180 mineral cells covering\napproximately 3,994 hectares (the \"Northex Claims\"). The Northex Claims are\ncontiguous with Nexcel's existing land position and surround the historic\nBurnt Hill tungsten mine claim.\n\nUpon completion of the acquisition, Nexcel's Burnt Hill land position,\nincluding claims held, under option or under agreement to acquire, will\nencompass approximately 12,598 hectares. This is more than eight times the\nsize of the original 1,553-hectare property held when the Company initially\nentered the Project in October 2025.\n\nImportantly, the expansion comes as Nexcel transitions Burnt Hill into an\nactive drilling phase. The Company's Phase 1 diamond drill program is fully\npermitted and preparations are underway for mobilization to the Project site.\n\nNexcel believes the combination of a substantially expanded and consolidated\nland position, modern airborne geophysical data, extensive historical\nexploration information and the commencement of new drilling represent an\nimportant step in evaluating Burnt Hill as a potentially much broader tungsten\nmineralized system.\n\nWhy the Expanded Land Position Matters\n\nThe consolidation of the Burnt Hill Project marks a shift from evaluating a\nlocalized historic deposit to exploring a potentially larger mineralized\nsystem.\n\nBy expanding the project footprint to 12,598 hectares, Nexcel will, upon\nclosing of the Northex acquisition, hold or have the right to acquire a\ncontiguous land package that surrounds the historic Burnt Hill tungsten mine.\nThis expanded footprint allows the Company to explore prospective geological\nstructures, geophysical anomalies, and mineralized trends well beyond the\nboundaries that constrained historical exploration.\n\nModern Geophysics to Support a Broader Exploration Target Pipeline\n\nThe land expansion directly complements Nexcel's investment in modern data.\nEarlier this year, Nexcel completed a high-resolution HeliTEM®\nhelicopter-borne Time Domain Electromagnetic (\"TDEM\") and magnetic survey over\nthe historic Burnt Hill mine area and prospective geologic formations. The\nprogram comprised approximately 1,755 line-kilometres of airborne surveying\nand was designed to identify conductive mineralization and structures\npotentially associated with tungsten mineralization and related intrusive\nsystems.\n\nNexcel engaged Condor Consulting to integrate this new HeliTEM® data with\nextensive historical datasets—including electromagnetic, induced\npolarization, ground magnetic, and geochemical surveys, alongside historical\ndrilling. This integrated technical dataset is intended to establish a modern\ngeological, structural and mineral potential model to systematically rank and\nprioritize tungsten, molybdenum, and tin targets across the entire\nconsolidated land package.\n\nPhase 1 Drilling Represents the Next Step\n\nNexcel is now preparing to commence its fully permitted Phase 1 diamond drill\nprogram at Burnt Hill. The Company has received authorization from the\nProvince of New Brunswick for approximately 5,000 metres of diamond drilling\nfrom up to 15 drill pad locations and has, in October 2026, secured an\nexploration licence agreement and executed a concurrent escrow agreement to\naccess and commence exploration at the Burnt Hill property.\n\nThe initial drill program has been designed to advance several objectives:\n* validating selected historical drill results and known tungsten\nmineralization;\n* testing potential extensions of known mineralization through step-out\ndrilling;\n* integrating modern geophysical targets with historical geological and\ndrilling information;\n* improving Nexcel's geological model of the Burnt Hill mineralized system;\nand\n* generating new technical data that may ultimately support future mineral\nresource evaluation.\nEvolution of the Burnt Hill Land Position\n\nNexcel's land position has expanded rapidly over the past year through a\nsystematic combination of direct staking and strategic acquisitions\nsurrounding the original project footprint:\n\n Date          Transaction                   Approx. Area Added  Approx. Burnt Hill Land Position  \n October 2025  Original Burnt Hill property  —                   1,553 ha                          \n March 2026    First Nexcel claim staking    4,124 ha            5,677 ha                          \n April 2026    Second Nexcel claim staking   2,373 ha            8,050 ha                          \n June 2026     Fitzgerald Claims option      554 ha              8,604 ha                          \n October 2026  Northex Claims acquisition    3,994 ha            12,598 ha                         \n\n \n\nNote: Areas are calculated from the Company's GIS claim boundaries for mineral\nclaims as recorded in NB e-CLAIMS and are rounded to the nearest hectare. They\ndiffer slightly from the approximate figures reported in the Company's\nprevious news releases.\n\nHugh Rogers, Chief Executive Officer of Nexcel, commented:\n\n\"Over the past year, our strategy at Burnt Hill has evolved from acquiring an\ninterest in a 1,553-hectare historic tungsten property to assembling a much\nlarger land position around what we believe should be evaluated as a broader\nmineralized system. Following completion of the Northex acquisition, our land\nposition will encompass approximately 12,598 hectares surrounding the historic\nBurnt Hill mine.\n\n\"The timing of this consolidation is important. We have completed a modern\nairborne geophysical survey, are integrating that work with decades of\nhistorical geological and exploration information, and are now preparing to\nmobilize for our first drill program at Burnt Hill. The upcoming drilling will\ngive us new subsurface information that can help us better understand the\ngeological controls on mineralization and refine the geophysical signatures we\nare seeing across the Project.\n\n\"Our objective is not simply to confirm what previous operators identified at\nBurnt Hill. We want to use modern exploration techniques to determine whether\nthe known tungsten mineralization forms part of a larger system. By\nconsolidating the surrounding ground before undertaking this next phase of\nexploration, Nexcel is positioned to follow prospective structures and targets\nwell beyond the footprint of the historic deposit.\"\n\nQualified Person\n\nGraham Giles, P.Geo., a consultant to the Company and a Qualified Person as\ndefined under National Instrument 43-101 — Standards of Disclosure for\nMineral Projects, has reviewed and approved the scientific and technical\ninformation contained in this news release.\n\nAbout Nexcel Metals Corp.\n\nNexcel Metals Corp. is a Canadian mineral exploration company focused on the\nacquisition, exploration and development of critical mineral projects in\nCanada. The Company's flagship Burnt Hill Tungsten Project is located in New\nBrunswick and encompasses a significant land package within one of Canada's\nmost historically significant tungsten camps. Nexcel's strategy is to advance\nand expand its critical minerals portfolio through systematic exploration,\nstrategic property acquisitions and the evaluation of development\nopportunities in stable mining jurisdictions. The Company also has the option\nto acquire a 100% interest in the Lac Ducharme REE project in Quebec.\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\"Hugh Rogers\"\nCEO & Director\n\nFor all other inquiries:\nEmail: hrogers@nexcelmetals.com\nPhone: (604) 250-6162\n\nForward-Looking Statements\n\nThis news release contains forward-looking statements, including statements\nregarding the completion of the acquisition of the Northex Claims,\nmobilization and commencement of the Phase 1 drill program, the objectives and\nscope of drilling, the interpretation and application of geophysical data, the\npotential identification and testing of additional exploration targets, future\nexploration activities and the potential identification of additional\nmineralization at the Burnt Hill Tungsten Project.\n\nForward-looking statements are based on management's current expectations and\nassumptions and are subject to known and unknown risks, uncertainties and\nother factors that may cause actual results to differ materially from those\nexpressed or implied by such statements. Such factors and assumptions include,\namong others: Canadian Securities Exchange acceptance and closing of the\nNorthex acquisition; completion of the remaining option payments and share\nissuances required to earn a 100% interest in the original Burnt Hill property\nand the Fitzgerald Claims; weather, access and contractor availability\naffecting mobilization and drilling; the availability of financing; and the\nrisk that drilling may not confirm historical results or identify additional\nmineralization. Readers are cautioned not to place undue reliance on\nforward-looking statements.\n\nExcept as required by applicable securities laws, the Company undertakes no\nobligation to update or revise any forward-looking statements as a result of\nnew information, future events or otherwise.\n\nNeither the Canadian Securities Exchange nor its Regulation Service Provider\naccepts responsibility for the adequacy or accuracy of this news release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/320344","article_body_html":"","raw_payload":{"data":{"id":"nNFC2q0y6M-20261022","title":"Nexcel Metals Provides Update on Expanded Burnt Hill Tungsten Project Ahead of Phase 1 Drilling","author":"Newsfile Corp","ticker":"NEXX","created":"2026-10-22T10:00:16.921Z","tickers":["NEXX"],"exchange":"","article_body":"Strategic Land Expansion Surrounding the Historic Burnt Hill Tungsten System\nSets the Stage for Upcoming Phase 1 Diamond Drill Program\n\nVancouver, British Columbia--(Newsfile Corp. - October 22, 2026) - Nexcel\nMetals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) (\"Nexcel\" or the \"Company\")\nis pleased to provide additional information regarding the continued expansion\nand consolidation of its Burnt Hill Tungsten Project (\"Burnt Hill\" or the\n\"Project\") in New Brunswick, Canada, as the Company prepares to commence its\nfully permitted Phase 1 diamond drill program.\n\nAs announced on October 16, 2026, Nexcel entered into an agreement to acquire\na 100% interest in two claims comprising 180 mineral cells covering\napproximately 3,994 hectares (the \"Northex Claims\"). The Northex Claims are\ncontiguous with Nexcel's existing land position and surround the historic\nBurnt Hill tungsten mine claim.\n\nUpon completion of the acquisition, Nexcel's Burnt Hill land position,\nincluding claims held, under option or under agreement to acquire, will\nencompass approximately 12,598 hectares. This is more than eight times the\nsize of the original 1,553-hectare property held when the Company initially\nentered the Project in October 2025.\n\nImportantly, the expansion comes as Nexcel transitions Burnt Hill into an\nactive drilling phase. The Company's Phase 1 diamond drill program is fully\npermitted and preparations are underway for mobilization to the Project site.\n\nNexcel believes the combination of a substantially expanded and consolidated\nland position, modern airborne geophysical data, extensive historical\nexploration information and the commencement of new drilling represent an\nimportant step in evaluating Burnt Hill as a potentially much broader tungsten\nmineralized system.\n\nWhy the Expanded Land Position Matters\n\nThe consolidation of the Burnt Hill Project marks a shift from evaluating a\nlocalized historic deposit to exploring a potentially larger mineralized\nsystem.\n\nBy expanding the project footprint to 12,598 hectares, Nexcel will, upon\nclosing of the Northex acquisition, hold or have the right to acquire a\ncontiguous land package that surrounds the historic Burnt Hill tungsten mine.\nThis expanded footprint allows the Company to explore prospective geological\nstructures, geophysical anomalies, and mineralized trends well beyond the\nboundaries that constrained historical exploration.\n\nModern Geophysics to Support a Broader Exploration Target Pipeline\n\nThe land expansion directly complements Nexcel's investment in modern data.\nEarlier this year, Nexcel completed a high-resolution HeliTEM®\nhelicopter-borne Time Domain Electromagnetic (\"TDEM\") and magnetic survey over\nthe historic Burnt Hill mine area and prospective geologic formations. The\nprogram comprised approximately 1,755 line-kilometres of airborne surveying\nand was designed to identify conductive mineralization and structures\npotentially associated with tungsten mineralization and related intrusive\nsystems.\n\nNexcel engaged Condor Consulting to integrate this new HeliTEM® data with\nextensive historical datasets—including electromagnetic, induced\npolarization, ground magnetic, and geochemical surveys, alongside historical\ndrilling. This integrated technical dataset is intended to establish a modern\ngeological, structural and mineral potential model to systematically rank and\nprioritize tungsten, molybdenum, and tin targets across the entire\nconsolidated land package.\n\nPhase 1 Drilling Represents the Next Step\n\nNexcel is now preparing to commence its fully permitted Phase 1 diamond drill\nprogram at Burnt Hill. The Company has received authorization from the\nProvince of New Brunswick for approximately 5,000 metres of diamond drilling\nfrom up to 15 drill pad locations and has, in October 2026, secured an\nexploration licence agreement and executed a concurrent escrow agreement to\naccess and commence exploration at the Burnt Hill property.\n\nThe initial drill program has been designed to advance several objectives:\n* validating selected historical drill results and known tungsten\nmineralization;\n* testing potential extensions of known mineralization through step-out\ndrilling;\n* integrating modern geophysical targets with historical geological and\ndrilling information;\n* improving Nexcel's geological model of the Burnt Hill mineralized system;\nand\n* generating new technical data that may ultimately support future mineral\nresource evaluation.\nEvolution of the Burnt Hill Land Position\n\nNexcel's land position has expanded rapidly over the past year through a\nsystematic combination of direct staking and strategic acquisitions\nsurrounding the original project footprint:\n\n Date          Transaction                   Approx. Area Added  Approx. Burnt Hill Land Position  \n October 2025  Original Burnt Hill property  —                   1,553 ha                          \n March 2026    First Nexcel claim staking    4,124 ha            5,677 ha                          \n April 2026    Second Nexcel claim staking   2,373 ha            8,050 ha                          \n June 2026     Fitzgerald Claims option      554 ha              8,604 ha                          \n October 2026  Northex Claims acquisition    3,994 ha            12,598 ha                         \n\n \n\nNote: Areas are calculated from the Company's GIS claim boundaries for mineral\nclaims as recorded in NB e-CLAIMS and are rounded to the nearest hectare. They\ndiffer slightly from the approximate figures reported in the Company's\nprevious news releases.\n\nHugh Rogers, Chief Executive Officer of Nexcel, commented:\n\n\"Over the past year, our strategy at Burnt Hill has evolved from acquiring an\ninterest in a 1,553-hectare historic tungsten property to assembling a much\nlarger land position around what we believe should be evaluated as a broader\nmineralized system. Following completion of the Northex acquisition, our land\nposition will encompass approximately 12,598 hectares surrounding the historic\nBurnt Hill mine.\n\n\"The timing of this consolidation is important. We have completed a modern\nairborne geophysical survey, are integrating that work with decades of\nhistorical geological and exploration information, and are now preparing to\nmobilize for our first drill program at Burnt Hill. The upcoming drilling will\ngive us new subsurface information that can help us better understand the\ngeological controls on mineralization and refine the geophysical signatures we\nare seeing across the Project.\n\n\"Our objective is not simply to confirm what previous operators identified at\nBurnt Hill. We want to use modern exploration techniques to determine whether\nthe known tungsten mineralization forms part of a larger system. By\nconsolidating the surrounding ground before undertaking this next phase of\nexploration, Nexcel is positioned to follow prospective structures and targets\nwell beyond the footprint of the historic deposit.\"\n\nQualified Person\n\nGraham Giles, P.Geo., a consultant to the Company and a Qualified Person as\ndefined under National Instrument 43-101 — Standards of Disclosure for\nMineral Projects, has reviewed and approved the scientific and technical\ninformation contained in this news release.\n\nAbout Nexcel Metals Corp.\n\nNexcel Metals Corp. is a Canadian mineral exploration company focused on the\nacquisition, exploration and development of critical mineral projects in\nCanada. The Company's flagship Burnt Hill Tungsten Project is located in New\nBrunswick and encompasses a significant land package within one of Canada's\nmost historically significant tungsten camps. Nexcel's strategy is to advance\nand expand its critical minerals portfolio through systematic exploration,\nstrategic property acquisitions and the evaluation of development\nopportunities in stable mining jurisdictions. The Company also has the option\nto acquire a 100% interest in the Lac Ducharme REE project in Quebec.\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\"Hugh Rogers\"\nCEO & Director\n\nFor all other inquiries:\nEmail: hrogers@nexcelmetals.com\nPhone: (604) 250-6162\n\nForward-Looking Statements\n\nThis news release contains forward-looking statements, including statements\nregarding the completion of the acquisition of the Northex Claims,\nmobilization and commencement of the Phase 1 drill program, the objectives and\nscope of drilling, the interpretation and application of geophysical data, the\npotential identification and testing of additional exploration targets, future\nexploration activities and the potential identification of additional\nmineralization at the Burnt Hill Tungsten Project.\n\nForward-looking statements are based on management's current expectations and\nassumptions and are subject to known and unknown risks, uncertainties and\nother factors that may cause actual results to differ materially from those\nexpressed or implied by such statements. Such factors and assumptions include,\namong others: Canadian Securities Exchange acceptance and closing of the\nNorthex acquisition; completion of the remaining option payments and share\nissuances required to earn a 100% interest in the original Burnt Hill property\nand the Fitzgerald Claims; weather, access and contractor availability\naffecting mobilization and drilling; the availability of financing; and the\nrisk that drilling may not confirm historical results or identify additional\nmineralization. Readers are cautioned not to place undue reliance on\nforward-looking statements.\n\nExcept as required by applicable securities laws, the Company undertakes no\nobligation to update or revise any forward-looking statements as a result of\nnew information, future events or otherwise.\n\nNeither the Canadian Securities Exchange nor its Regulation Service Provider\naccepts responsibility for the adequacy or accuracy of this news release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/320344"},"type":"article","timestamp":"2026-10-22T10:00:16.978423096Z","server_sent_at_ms":1792663216978},"received_at":"2026-10-22T10:00:17.037Z","source_url":"https://www.newsfilecorp.com/release/320344"},"analysis":{"id":"164540","press_release_id":"176566","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Northex acquisition closing subject to CSE acceptance","Remaining option payments and share issuances required to earn 100% of Burnt Hill and Fitzgerald Claims","Drilling may not confirm historical results; financing availability flagged as a risk"],"eventType":"operations_update","narrative":"Nexcel Metals provided an update on the expanded Burnt Hill Tungsten Project in New Brunswick, which will total approximately 12,598 hectares once the Northex Claims acquisition closes -- more than eight times the original 1,553-hectare property acquired in October 2025.\n\nThe company's Phase 1 diamond drill program is fully permitted for approximately 5,000 metres from up to 15 pads, with mobilization underway, supported by a 1,755 line-kilometre HeliTEM airborne survey being integrated with historical data by Condor Consulting.\n\nDrilling aims to validate historical results and test whether the known tungsten mineralization is part of a larger system; completion of the Northex acquisition remains subject to Canadian Securities Exchange acceptance, and results are not guaranteed to confirm historical mineralization.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Micro-cap tungsten explorer consolidates 12,598 ha around historic Burnt Hill mine ahead of first 5,000 m drill program -- watch for assay flow."},"keyFigures":{"customDimensions":{"drill_pad_locations":15,"airborne_survey_line_km":1755,"northex_claims_hectares":3994,"permitted_drilling_metres":5000,"original_property_hectares":1553,"total_land_position_hectares":12598}},"quotedText":"We want to use modern exploration techniques to determine whether the known tungsten mineralization forms part of a larger system.","namedEntities":{"people":[{"name":"Hugh Rogers","role":"CEO & Director"},{"name":"Graham Giles, P.Geo.","role":"Qualified Person / consultant"}],"products":["Burnt Hill Tungsten Project","Northex Claims","Fitzgerald Claims","Lac Ducharme REE project","HeliTEM"],"companies":[{"name":"Nexcel Metals Corp.","ticker":"NEXX","relationship":"filer"},{"name":"Condor Consulting","relationship":"geophysics consultant"},{"name":"Province of New Brunswick","relationship":"regulator/permitting authority"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"Routine exploration-stage update: land consolidation to 12,598 hectares and a fully permitted Phase 1 drill program (~5,000 metres) about to mobilize. No assay results, financing, or resource numbers -- meaningful progress for a micro-cap explorer but not market-moving."},"tickerRelevance":{"others":[{"ticker":"NXXCF","relevance":"OTCQB listing of same issuer"},{"ticker":"2OH","relevance":"Frankfurt listing of same issuer"}],"primary":"NEXX"},"globalImportance":12,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"exploration-update","sectorWeight":"critical-minerals/tungsten niche","issuerAuthored":true}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Nexcel Metals provided an update on the expanded Burnt Hill Tungsten Project in New Brunswick, which will total approximately 12,598 hectares once the Northex Claims acquisition closes -- more than eight times the original 1,553-hectare property acquired in October 2025.\n\nThe company's Phase 1 diamond drill program is fully permitted for approximately 5,000 metres from up to 15 pads, with mobilization underway, supported by a 1,755 line-kilometre HeliTEM airborne survey being integrated with historical data by Condor Consulting.\n\nDrilling aims to validate historical results and test whether the known tungsten mineralization is part of a larger system; completion of the Northex acquisition remains subject to Canadian Securities Exchange acceptance, and results are not guaranteed to confirm historical mineralization.","key_figures":{"customDimensions":{"drill_pad_locations":15,"airborne_survey_line_km":1755,"northex_claims_hectares":3994,"permitted_drilling_metres":5000,"original_property_hectares":1553,"total_land_position_hectares":12598}},"named_entities":{"people":[{"name":"Hugh Rogers","role":"CEO & Director"},{"name":"Graham Giles, P.Geo.","role":"Qualified Person / consultant"}],"products":["Burnt Hill Tungsten Project","Northex Claims","Fitzgerald Claims","Lac Ducharme REE project","HeliTEM"],"companies":[{"name":"Nexcel Metals Corp.","ticker":"NEXX","relationship":"filer"},{"name":"Condor Consulting","relationship":"geophysics consultant"},{"name":"Province of New Brunswick","relationship":"regulator/permitting authority"}],"dollarAmounts":[]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-22T10:00:23.771Z","global_importance":12,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"exploration-update","sectorWeight":"critical-minerals/tungsten niche","issuerAuthored":true}},"durationMs":6709,"modelName":"glm-5.3-flashx"}}