NextSource Materials Confirms Uninterrupted Mine Operations and Shipments of SuperFlake(R) Graphite from Madagascar

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NextSource Materials (OTCQB: NSRCF) confirmed on October 17, 2025 that operations at its Molo Graphite Mine in southern Madagascar and shipments of SuperFlake® graphite concentrate remain uninterrupted despite the current political situation in Madagascar.

Mining and processing at Molo are running under normal conditions with regular campaign production and logistics schedules. Shipments are proceeding from the port of Tulear without disruption. The company said it is engaging with community stakeholders and continuing social development programs, while monitoring events in Antananarivo (about 900 kilometres from Molo) and will provide updates if warranted.

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TORONTO, ON / ACCESS Newswire / October 17, 2025 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") wishes to confirm that operations at its Molo Graphite Mine in southern Madagascar and shipments of its SuperFlake® graphite concentrate remain unaffected by the current political situation in Madagascar.

Mining and processing activities at the Molo mine continue under normal conditions, with the Company maintaining its regular campaign production and logistics schedules. Shipments of SuperFlake® graphite to international customers are proceeding from the port of Tulear without disruption.

NextSource maintains close engagement with community stakeholders to ensure continued collaboration and stability around its operations, and reaffirms its ongoing commitment to the well-being of its employees, the local community, and to social development programs in Madagascar, which continue as planned.

The Company continues to monitor events in Antananarivo, Madagascar's capital city, located approximately 900 kilometres from its Molo operations, and will provide further updates if warranted.

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".

For further information about NextSource Materials, please visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com.

Safe Harbour: This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", "expected" or "should" occur. Forward-looking statements include any statements regarding, among others, timing of construction and completion of the BAF and proposed timing of future locations of additional BAFs, timing and completion of front-end engineering and design and ESIA permitting, the economic results of the BAF Technical Study including capital costs estimates, operating costs estimates, payback, NPV, IRR, production, sales pricing and working capital estimates, the construction and potential expansion of the BAFs, expansion plans, as well as the Company's intent on becoming a fully integrated global supplier of critical battery and technology materials. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.

View the original press release on ACCESS Newswire

FAQ

Are NextSource Materials (NSRCF) mine operations in Madagascar currently affected by the October 17, 2025 political situation?

No; the company confirmed on October 17, 2025 that Molo mine operations remain uninterrupted and continue under normal conditions.

Is NextSource still shipping SuperFlake® graphite from Madagascar (NSRCF)?

Yes; shipments of SuperFlake® graphite concentrate are proceeding from the port of Tulear without disruption.

How far is Antananarivo from NextSource's Molo mine and does it affect operations (NSRCF)?

Antananarivo is approximately 900 kilometres from the Molo operations; the company is monitoring events there but reports no impact to Molo to date.

What is NextSource (NSRCF) doing to maintain stability around the Molo mine during the political situation?

The company maintains close engagement with community stakeholders and continues its social development programs and employee well-being initiatives.

Will NextSource (NSRCF) provide further updates about Madagascar operations?

Yes; the company stated it will provide further updates if warranted as it continues to monitor events in Madagascar.