Nexa Reports Second Half and Full Year 2025 Exploration Results

Rhea-AI Summary

Nexa (NYSE: NEXA) reported 2025 exploration and infill drilling results, totaling 274,889 meters drilled: 69,807 m exploration and 205,082 m infill. Key 2025 intercepts include Vazante 14.2m @ 25.93% Zn, Aripuanã 16.6m @ 9.63% Zn, and El Porvenir 80.5m @ 3.07% Zn with high Ag and Au.

Nexa plans 59,870 m exploration in 2026 (≈74% in Peru) and will execute 32,320 m in 1H26 to support resource replenishment and potential mine-life extension.

Positive

• Total drilling of 274,889 meters in 2025 supporting a large exploration effort
• Exploration drilling produced high-grade intercepts, e.g., 14.2m at 25.93% Zn (Vazante)
• El Porvenir yielded thick polymetallic intercepts, e.g., 80.5m at 3.07% Zn with high Ag and Au
• Clear 2026 plan: 59,870 meters of exploration with defined 1H26 target of 32,320 meters

Negative

• Infill drilling dominated program: 205,082 meters (≈75% of total), limiting near-term greenfield discovery exposure
• Exploration concentration risk: ≈74% of 2026 exploration meters allocated to Peru

Market Reaction

+4.05% $12.78

15m delay 4 alerts

+4.05% Since News

$12.78 Last Price

$12.70 $13.05 Day Range

+$66M Valuation Impact

$1.69B Market Cap

0.1x Rel. Volume

Following this news, NEXA has gained 4.05%, reflecting a moderate positive market reaction. Our momentum scanner has triggered 4 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $12.78. This price movement has added approximately $66M to the company's valuation.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.

Key Figures

Cerro Lindo interval: 22.2 m at 2.11% Zn, 0.30% Pb, 0.06% Cu, 7.07 g/t Ag Aripuanã Massaranduba interval: 16.6 m at 9.63% Zn, 3.03% Pb, 0.13% Cu, 50.87 g/t Ag Aripuanã high-grade sub-interval: 4.8 m at 25.31% Zn, 8.01% Pb, 0.11% Cu, 121.88 g/t Ag +5 more

8 metrics

Cerro Lindo interval 22.2 m at 2.11% Zn, 0.30% Pb, 0.06% Cu, 7.07 g/t Ag Orebody 8C, drill hole PECLD07998 from 571.6 m

Aripuanã Massaranduba interval 16.6 m at 9.63% Zn, 3.03% Pb, 0.13% Cu, 50.87 g/t Ag Drill hole BRAPD000227 from 67.1 m

Aripuanã high-grade sub-interval 4.8 m at 25.31% Zn, 8.01% Pb, 0.11% Cu, 121.88 g/t Ag Within Massaranduba interval, BRAPD000227

Vazante Conexão Sucuri Norte interval 14.2 m at 25.93% Zn, 0.26% Pb, 57.25 g/t Ag Drill hole BRBVZEND000095 from 365.9 m

El Porvenir Integración interval 80.5 m at 3.07% Zn, 1.60% Pb, 0.13% Cu, 250.79 g/t Ag, 1.06 g/t Au Including 72.2 m at higher grades, PEEPD03045 from 273.8 m

Total drilling 2025 274,889 meters Full-year 2025, exploration and infill combined

Exploration drilling 2025 69,807 meters Part of 274,889 meters drilled in 2025

Planned 2026 exploration 59,870 meters Company-wide exploration drilling plan for 2026

Market Reality Check

Price: $12.35 Vol: Volume 281,228 is well be...

low vol

$12.35 Last Close

Volume Volume 281,228 is well below the 20-day average of 831,147 (relative volume 0.34x), suggesting limited pre-news positioning. low

Technical Price at 12.35 is trading above the 200-day MA of 6.43, indicating a pre-existing longer-term uptrend before this exploration update.

Peers on Argus

NEXA was down 1.98% while several tracked peers showed notable declines (e.g., C...

2 Up

NEXA was down 1.98% while several tracked peers showed notable declines (e.g., CRML -8.94%, UAMY -9.44%) but momentum names like SGML (+8.97%) and USAS (+4.10%) were up. With mixed peer moves and NEXA’s decline, this reads as stock-specific rather than a clean sector rotation.

Historical Context

5 past events · Latest: Feb 06 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 06	Guidance and outlook	Positive	+5.0%	Met 2025 production guidance and issued 2026–2028 outlook with stable costs.
Jan 21	Operational disruption update	Neutral	+3.1%	Atacocha road blockade temporarily halted output but impact flagged as non-material.
Dec 22	Asset sale	Positive	+1.1%	Closed sale of Otavi and Namibia North projects to refocus on higher-return assets.
Oct 30	Quarterly earnings	Positive	-2.1%	Reported strong 3Q25 with higher net income, EBITDA and revenues versus prior periods.
Aug 19	Operations resumption	Positive	-0.8%	Announced full resumption of Cerro Pasco operations after resolving community protests.

Pattern Detected

Recent history shows mostly positive operational and portfolio news; the stock has sometimes sold off on strong results, with a mix of aligned and divergent reactions.

Recent Company History

Over the last six months, Nexa reported multiple operational milestones. On Aug 19, 2025, it announced full resumption at Cerro Pasco after protests. On Oct 30, 2025, strong 3Q25 results included US$100M net income and higher revenues. Nexa then closed the Otavi project sale on Dec 22, 2025 as part of portfolio optimization. In early 2026 it updated guidance and production, then confirmed 2025 guidance achievement. Today’s exploration results build on this operational and capital-allocation narrative.

Market Pulse Summary

This announcement highlights extensive 2025 drilling of 274,889 meters, with notable high-grade poly...

Analysis

This announcement highlights extensive 2025 drilling of 274,889 meters, with notable high-grade polymetallic intercepts at Cerro Lindo, Aripuanã, Vazante and El Porvenir that support Mineral Resource replenishment and potential mine life extension. Recent 6-K filings echo this focus on exploration and disciplined portfolio management. Investors may watch how these results translate into updated resource estimates, production plans, and future capital allocation across Peru and Brazil projects.

Key Terms

infill drilling, Mineral Resource, life-of-mine, polymetallic

4 terms

infill drilling technical

"near-mine expansion, brownfield and infill drilling, and greenfield exploration"

Infill drilling is the targeted drilling of additional holes inside an area where mineral deposits have already been found, done to fill gaps in knowledge about how much rock or metal is really there and how continuous it is. For investors this matters because better, denser data reduces uncertainty about a project’s size and value, similar to taking more detailed photos of a landscape to judge how much land you actually own and how usable it is.

Mineral Resource technical

"support Mineral Resource replenishment, mine life extension and reinforce Nexa's"

A mineral resource is a naturally occurring concentration of minerals in the ground that is considered valuable and likely recoverable based on geological evidence and preliminary studies. For investors, it signals the potential size and worth of a deposit—like a marked treasure area on a map—while also carrying uncertainty about how much can actually be mined and at what cost, affecting project value and risk.

life-of-mine technical

"These results are expected to extend the life-of-mine. Drilling at Cerro Lindo"

Life-of-mine is the estimated number of years a mine will produce minerals or metals at economically viable rates based on current reserves, planned extraction and operating assumptions. Investors use it like a shelf-life estimate — it shows how long the asset can generate revenue, helps value the project, guides capital spending and signals when replacement resources or closure costs will be needed.

polymetallic technical

"The campaign at El Porvenir, intersecting thick, polymetallic structures with high silver"

Polymetallic describes a rock, ore deposit, or mine that contains several different commercially valuable metals together, such as copper, zinc, lead, gold or silver. For investors it matters because a polymetallic deposit can spread revenue across multiple metal markets—like a fruit basket with different fruits—reducing dependence on one commodity’s price but often adding processing complexity and varying costs and risks.

AI-generated analysis. Not financial advice.

Positive Exploration Results Across Core Operations and Mineralization Expansion

Luxembourg, Luxembourg--(Newsfile Corp. - February 11, 2026) - Nexa Resources S.A. (NYSE: NEXA) ("Nexa Resources", "Nexa", or "Company") is pleased to announce the drilling and assay results for the second half and full year of 2025. This document contains forward-looking statements.

Highlights

• Cerro Lindo - Orebody 8C: 22.2 meters at 2.11% Zn, 0.30% Pb, 0.06% Cu and 7.07 g/t Ag in drill hole PECLD07998 from 571.6 meters.
• Aripuanã - Massaranduba target: 16.6 meters at 9.63% Zn, 3.03% Pb, 0.13% Cu, and 50.87 g/t Ag, including 4.8 meters with 25.31% Zn, 8.01% Pb, 0.11% Cu, and 121.88 g/t Ag in drill hole BRAPD000227 from 67.1 meters.
• Vazante - Conexão Sucuri Norte target: 14.2 meters at 25.93% Zn, 0.26% Pb, and 57.25 g/t Ag in drill hole BRBVZEND000095 from 365.9 meters.
• El Porvenir - Integración target: 80.5 meters at 3.07% Zn, 1.60% Pb, 0.13% Cu, 250.79 g/t Ag, and 1.06 g/t Au, including 72.2 meters at 3.34% Zn, 1.75% Pb, 0.14% Cu, 277.38 g/t Ag in drill hole PEEPD03045 from 273.8 meters.

Summary

Nexa's 2025 drilling strategy focused on three key areas: near-mine expansion, brownfield and infill drilling, and greenfield exploration at prospective projects.

Cumulative drilling for 2025 totaled 274,889 meters, comprising 69,807 meters of exploration drilling and 205,082 meters of infill drilling. In 2H25, drilling amounted to 142,979 meters, including 101,317 meters of infill drilling and 41,662 meters of exploration drilling. Such exploration drilling included 30,194 meters in Peru (using 13 rigs) and 11,468 meters in Brazil (using 10 rigs), with 18,653 meters dedicated to early-stage greenfield projects across both countries.

Exploration drilling targeted new or expanded mineralization, while infill drilling sought to improve geological confidence within existing orebodies.

For the first half of 2026, Nexa plans to execute 32,320 meters of exploration drilling, including 25,520 meters in Peru (with nine rigs) and 6,800 meters in Brazil (with four rigs).

The results of the drilling carried out in 2025 support Mineral Resource replenishment, mine life extension and reinforce Nexa's medium-term production optionality.

Commenting on the results, Jones Belther, Senior Vice President of Technical Services & Business Development, stated: "In 2025, our exploration program delivered strong results, reaffirming the attractive geological potential across our portfolio. During the year, Nexa completed 69,807 meters of exploration drilling. The program yielded significant developments at key assets: At the Cerro Pasco Complex, drilling at the Integración target expanded the know mineralized zone. The campaign at El Porvenir, intersecting thick, polymetallic structures with high silver grades. At Aripuanã, exploration at the Massaranduba target confirmed the continuity of mineralization, intersecting a thick, high-grade body in a recently discovered zone. These results are expected to extend the life-of-mine. Drilling at Cerro Lindo confirmed continuity in Orebody 8C. At Vazante, exploration efforts focused on the Vazante Sul, Varginha, and Conexão Sucuri Norte targets, confirming mineralization extensions at the latter. Collectively, these positive results will support the replenishment of Mined Reserves in the coming years. For 2026, Nexa plans to execute 59,870 meters of exploration drilling, with approximately 74% allocated in Peru."

For a full version of this document, please go to our Investor Relations website at: https://ri.nexaresources.com/.

About Nexa

Nexa is a large-scale, low-cost, integrated polymetallic producer, with zinc as our main product. We have over 65 years of experience developing and operating mining and smelting assets in Latin America. Nexa currently owns and operates five polymetallic mines - four long-life underground mines (two in the Central Andes region of Peru and two in Brazil, in the states of Minas Gerais and Mato Grosso) and one open-pit mine in Peru. Nexa also owns and operates three zinc smelters: two in Minas Gerais, Brazil (Três Marias and Juiz de Fora), and one in Lima, Peru (Cajamarquilla), which is the largest zinc smelter in the Americas.

Cautionary Statement on Forward-Looking Statements

This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to in this news release as "forward-looking statements"). Forward-looking statements contained in this news release may include, but are not limited to, zinc and other metal prices and exchange rate assumptions, projected operating and capital costs, metal or mineral recoveries, head grades, mine life, production rates, and returns; the Company's potential plans; the estimation of the tonnage, grade and content of deposits and the extent of Mineral Resource and Mineral Reserve estimates; timing of commencement of production; exploration potential and results; the timing and receipt of necessary permits for future operations; and the impacts of COVID-19 on our operations.

These statements are based on information currently available to the Company and the Company provides no assurance that actual results and future performance and achievements will meet or not differ from the expectations of management or qualified persons. All statements other than statements of historical fact are forward-looking statements. The words "believe," "will," "may," "may have," "would," "estimate," "continues," "anticipates," "intends," "plans," "expects," "budget," "scheduled," "forecasts" and similar words are intended to identify estimates and forward-looking statements. Forward-looking statements are not guarantees and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments may be substantially different from the expectations described in the forward-looking statements for a number of reasons, many of which are not under our control, among them, the activities of our competition, the future global economic situation, weather conditions, market prices and conditions, exchange rates, and operational and financial risks. The unexpected occurrence of one or more of the abovementioned events may significantly change the results of our operations on which we have based our estimates and forward-looking statements. Our estimates and forward-looking statements may also be influenced by, among others, legal, political, environmental, or other risks that could materially affect the potential development of the Project, including risks related to outbreaks of contagious diseases or health crises impacting overall economic activity regionally or globally, as well as risks relating to ongoing or future investigations by local authorities with respect to our business and operations and the conduct of our customers, including the impact to our financial statements regarding the resolution of any such matters.

These forward-looking statements related to future events or future performance and include current estimates, predictions, forecasts, beliefs and statements as to management's expectations with respect to, but not limited to, the business and operations of the Company and mining production, our growth strategy, the impact of applicable laws and regulations, future zinc and other metal prices, smelting sales, capex, expenses related to exploration and project evaluation, estimation of Mineral Resources and/or Mineral Reserves, mine life and our financial liquidity.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable and appropriate by management and qualified persons considering their experience are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Statements concerning future production costs or volumes are based on numerous assumptions of management regarding operating matters and on assumptions that demand for products develops as anticipated, that customers and other counterparties perform their contractual obligations, full integration of mining and smelting operations, that operating and capital plans will not be disrupted by issues such as mechanical failure, unavailability of parts and supplies, labor disturbances, interruption in transportation or utilities, adverse weather conditions, and that there are no material unanticipated variations in metal prices, exchange rates, or the cost of energy, supplies or transportation, among other assumptions.

Estimates and forward-looking statements refer only to the date when they were made, and we do not undertake any obligation to update or revise any estimate or forward-looking statement due to new information, future events or otherwise, except as required by law. Estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward-looking statements. Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our public disclosures filed under our profile on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov).

For further information, please contact:
Investor Relations Team
ir@nexaresources.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283552

FAQ

What were the total meters drilled by Nexa (NEXA) in 2025?

Nexa drilled 274,889 meters across 2025, including exploration and infill. According to the company, that total comprises 69,807 m of exploration drilling and 205,082 m of infill drilling focused on near-mine and resource definition objectives.

Which high-grade drill intercepts did Nexa report in 2H25 for NEXA?

Notable 2H25 intercepts include 14.2m at 25.93% Zn (Vazante) and 16.6m at 9.63% Zn (Aripuanã). According to the company, these results highlight high-grade continuity at Vazante Conexão Sucuri Norte and Massaranduba targets.

How much exploration drilling did Nexa plan for 1H2026 and where for NEXA?

Nexa plans 32,320 meters of exploration in 1H26, with 25,520 m in Peru and 6,800 m in Brazil. According to the company, this uses nine rigs in Peru and four rigs in Brazil to advance greenfield and near-mine targets.

What impact do Nexa’s 2025 results have on resource and mine life for NEXA?

The company says the 2025 drilling supports Mineral Resource replenishment and mine life extension. According to the company, positive intercepts and expanded mineralized zones are expected to reinforce medium-term production optionality and replenish mined reserves.

How is Nexa allocating its 2026 exploration budget by country for NEXA?

For 2026 Nexa plans 59,870 meters of exploration, with about 74% allocated to Peru. According to the company, this geographic weighting reflects where the company sees the most near-term greenfield and brownfield opportunity.