Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 66

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 66
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 on the Post Creek Property. The claims have sufficient work credits
to keep them in good standing until 2030. No material expenditures or activities are contemplated on the Post Creek property at this
time.

Halcyon
Property

The
Halcyon property is located 35 kilometres northeast of Sudbury in the Parkin and Aylmer townships and consists of 62 unpatented mining
cells for a total of 1,024 hectares. Halcyon is adjacent to the Post Creek property and is approximately two kilometres north of the
Podolsky Mine. The property was acquired through an option agreement and as at the date of this Report, the Company holds a 100% interest
in the Halcyon property and is obligated to pay advances on a net smelter return of $8,000 per annum, which will be deducted from any
payments to be made under the net smelter return.

No
exploration work was completed in the first three quarters of 2025 on the Halcyon Property. The claims are in good standing through 2030.
No material expenditures or activities are contemplated on the Halcyon property at this time.

36

Maniitsoq
Nickel-Copper-PGM Project, Southwest Greenland

In
December 2024, the Company notified the Government of Greenland that it was relinquishing its licences effective immediately. Removal
of the remaining structures from the camp was completed in September 2025. The Company is awaiting final approval of the relinquishment
from authorities. The Company provisioned $nil and $140,000 for the three and nine months ended September 30, 2025 (three and nine months
ended September 30, 2024 - $nil) for the remediation work at the property.

Overall
Performance and Results of Operations

As
at the date of this Report, the Company has not earned revenue nor proved the economic viability of its projects. The Company’s
expenses are not subject to seasonal fluctuations or general trends other than factors affecting costs such as inflation and input prices.
The Company’s expenses and cash requirements will fluctuate from period to period depending on the level of activity at the projects,
which may be influenced by the Company’s ability to raise capital to fund these activities. Comparisons of activity made between
periods should be viewed with this in mind. The Company’s quarterly results may be affected by many factors such as timing of exploration
activity, share-based compensation costs, capital raised, marketing activities and other factors