Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 377

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 377
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    Change in valuation allowance 
     9,053,549  
     7,326,424 
  
    Deferred tax recovery 
     -  
     (524,531)

    F-31

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

The
Company has recorded a valuation allowance as the Company believes it is not probable that the deferred tax assets will be realized
in the foreseeable future. The Company’s deferred tax assets and liabilities are comprised of the following:

 SCHEDULE
OF DEFERRED TAX ASSETS AND LIABILITIES

    As at December 31, 

    2024 $  
    2023 $ 
  
    Deferred tax assets 

    Non-capital losses available for carry-forward 
     15,499,405  
     6,040,311 
  
    Property, plant and equipment 
     717,416  
     697,957 
  
    Resource deductions 
     1,142,853  
     1,142,853 
  
    Lease liabilities 
     -  
     354,451 
  
    DSU liability 
     249,541  
     - 
  
    Share issue costs 
     1,282,390  
     1,342,837 
  
    Deferred
    tax assets 
     18,891,605  
     9,578,409 
  
    Deferred tax liabilities 

    Term Loan 
     (152,537) 
     (512,921)
  
    Property, plant and equipment 
     (715,673) 
     (1,204,364)
  
    Deferred
    tax liabilities 
     (868,210) 
     (1,717,285)
  
    Net deferred tax asset 
     18,023,395  
     7,861,124 
  
    Valuation allowance 
     (18,023,395) 
     (7,861,124)
  
    Deferred tax asset (liability) 
     -  
     - 

The Company has Canadian non-capital losses of approximately
$25,742,976 (2023 - $13,105,517) available for deduction against future taxable income, which if not utilized will expire between the
years of