Nine Mile Metals Ltd Stock Price, News & Analysis

Nine Mile Metals (OTC: VMSXF) completed drill hole DDH WD-25-01 at the Wedge Western Extension program on November 26, 2025 and is progressing on DDH WD-25-02. WD-25-01 intersected approximately 22.40 metres true width of massive copper-bearing VMS (Cu-Pb-Zn-Ag-Au) in Target Plate 1 and a second sulphide zone in Target Plate 2.

A total of 65 core sample sections were identified for base and precious metal assays (including antimony) to be analyzed by Actlabs Fredericton. Core has been logged, photographed, cut and prepared for assay; WD-25-02 was drilled from the same pad to test the plate ~40 metres further west along strike.

Nine Mile Metals (OTC: VMSXF) reported Phase 3 portable XRF results from 18 ore samples at the Wedge copper‑gold project, Bathurst Mining Camp, New Brunswick on November 5, 2025. Highlights include a top XRF reading of 26.14% Cu and 1.03% Sb (sample 280461) and visible covellite in samples 280461 and 280463. Of 18 ore samples, 9 returned >=14.22% Cu. Multiple samples from the proposed Upper Zone western extension averaged high copper values (see Table 1).

All Phase 3 samples were forwarded to Actlabs (Fredericton) for certified assays of Ag and Au; the XRF program used an Olympus Vanta 50 with two standards (OREAS622, CDN-BL-10) and triplicate readings per sample. Drill targeting and technical interpretation are underway with planned Apex-designed holes to test identified lenses and depth extensions below 150 m.

Nine Mile Metals (OTC: VMSXF) announced mobilization of an Orbit Garant YS2000 skid-mounted drill rig for the Wedge copper-gold drill program. The rig is enroute from Sudbury and is expected at Orbit Garant's Dieppe facility on Nov 3, 2025 for servicing and winterization, with onsite arrival in Bathurst targeted for Nov 10, 2025.

The program will test the newly targeted western extension and depth of the deposit using up to 7 drill holes (5 Upper Zone, 2 Lower Zone) modelled by Apex Geoscience. All holes will be capped for downhole BHEM geophysics and integrated into the company's 3D live geological, geophysical and drillhole models.

Orbit Garant is ECOLOGO accredited and operates a large fleet (~185 rigs) with over 1,000 employees, supporting the campaign's execution.

Nine Mile Metals (OTCQB: VMSXF / CSE: NINE) closed an oversubscribed non-brokered flow-through private placement on October 29, 2025. The Company issued 20,000,000 Units at $0.02 per Unit for total gross proceeds of $400,000 (originally $250,000). Each Unit includes one common share and one warrant exercisable at $0.05 for 36 months. The company paid $8,000 in commissions and issued 400,000 compensation warrants. Proceeds are earmarked for exploration on the NB Critical Minerals Projects in the Bathurst Mining Camp. Three current directors subscribed to 2,250,000 Units ($45,000). Securities are subject to a four-month-plus-one-day hold period.

Nine Mile Metals (OTCQB: VMSXF) reported Phase 2 portable XRF sampling from the upcoming northwestern drill area at the Wedge VMS Project, Bathurst, New Brunswick, on October 15, 2025. 35 ore samples were analyzed by an Olympus Vanta 50 XRF and averaged from three readings each.

Key highlights: highest XRF copper 17.41% Cu; 16 of 35 samples ≥4% Cu; 24 of 35 samples ≥3% Cu; many samples were >90% sulphides and predominately Cu-rich. Samples have been forwarded to ALS Global for certified assays (Au/Ag pending). The company plans drill testing, including 7 proposed apex holes to test a western extension and depth below 150 m to ~300 m.

Nine Mile Metals (OTC:VMSXF) has announced a private placement financing initiative to raise up to $400,000 through two offerings. The company plans a Flow-through (FT) placement of up to 12.5 million units at $0.02 per unit for proceeds of up to $250,000, and a Non-flow-through (NFT) placement of up to 10 million units at $0.015 per unit for proceeds of up to $150,000.

Each FT unit includes one common share and one warrant exercisable at $0.05 for 36 months. NFT units comprise one common share and a half-warrant, with full warrants exercisable at $0.05 for 36 months. The FT proceeds will fund drilling at the Wedge Project and California Lake East, while NFT proceeds will support operating expenses and working capital.

Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) has maintained its option to purchase the remaining 50% of the Nine Mile Brook Project through a third anniversary payment to Fiddlehead Mining Corp. Instead of the required $50,000 cash payment, the company issued 3,333,333 common shares at $0.015 per share. The $150,000 annual work expenditure requirement has been deferred to the fourth year. The Nine Mile Brook Project spans 50.02 square kilometers across 229 mining claims, located 10km west of the Brunswick #12 Mine. Previous drill program results showed exceptional grades, including samples with up to 18.30% Cu, 2.45% Pb, 2.03% Zn, 173 g/t Ag, and 1.13 g/t Au. The company plans to resume exploration in Fall 2025, utilizing advanced geophysics and 3D modeling to guide their drilling program.

Nine Mile Metals (CSE: NINE, OTC: VMSXF) has secured a $40,000 grant from the New Brunswick Department of Natural Resources and Energy Development for exploration at its California Lake East VMS Project. The grant, awarded through the Junior Mining Assistance Program (NBJMAP), will support exploration along the stratigraphic horizon and EM conductors at Target #6 and #8. The company plans to begin with ground-based geophysics to define priority drill targets, particularly focusing on Target #6, which has been identified as a high-priority new target and potential source of the previously successful VMS drill program at Target #8. The technical team, along with Apex Geoscience, will design ground-based survey methods including fixed and moving loop Electromagnetics to define the conductive trend between the targets.

Nine Mile Metals has appointed Mike Dufresne, President and Co-Founder of APEX Geoscience Ltd., to its Technical Advisory Committee effective June 4th, 2025. Dufresne, a registered Professional Geologist with APEGNB, brings significant expertise in VMS exploration and was part of teams that discovered major gold deposits including George-Goose Lake (4M+ oz) and Three Bluffs (760 oz). APEX Geoscience, with over 100 professionals operating in 35+ countries, specializes in geological consulting, project implementation, and resource estimation. This strategic addition complements Nine Mile's existing partnership with EarthEx Geophysical Solutions, positioning the company to advance its VMS portfolio in the Bathurst Mining Camp, including the West Wedge and TriBag Drill Programs.