Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 156

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 156
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 that the Selkirk TRS was prepared by SLR. The
qualified persons of SLR meet the qualifications specified under the definition of “qualified person” under Item 1300 of
Regulation S-K.

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Property
Description and Location

The
Selkirk Mine is located in the northeast of Botswana approximately 28 km southeast of the city of Francistown, and 450 km northeast of
the national capital Gaborone.

The
Selkirk Mine is accessed year-round via paved and gravel roads from Gaborone and Francistown. The Selkirk Mine infrastructure includes
relict surface infrastructure supporting the historical underground mine, and the original decline. The Selkirk Mine is quite flat, and
beyond the mine footprint is covered in grassland with dispersed and clusters of trees typical of a tree savanna biome.

Land
Tenure

The
Selkirk Mine consists of a single mining licence covering an area of 1,458 hectares (14.58 km2) and four prospecting
licences covering a total of 12,670 hectares (126.7 km2). The mining licence, 2022/7L, is centred approximately at
21°19’13” S and 27°44’17” E and is held by PNGPL, a subsidiary of PREM. The mining licence was
renewed for ten years commencing on May 27, 2022, ending on May 26, 2032. The four prospecting licences (PL050/2010, PL051/2010,
PL210/2010, and PL071/2011) expired September 30, 2024, and applications for renewal were submitted prior to the expiry date. The
Company received verbal confirmation that they were renewed during the first quarter of 2025 and will expire September 30,
2026.

Infrastructure

The
area is in a rural district and the available infrastructure is minimal. Strategic services (e.g., electricity and water supplies) could
be provided by the Botswana Power Corporation and from existing governmental water pipelines within the Francistown Road Reserve, and
potable water could be sourced on site from boreholes. A railway line crosses the western margin of the Selkirk area.

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History

Anglo
American Corporation of South Africa established the presence of nickel and copper occurrences at the sites of the ancient copper workings
in the area in 1929. Significant exploration started in