Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 12

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 12
---
, Ontario”.

Selebi
Mines

The
information that follows relating to the Selebi Mines is derived from, and in some instances is an extract from, the Selebi TRS. Portions
of the following information are based on assumptions, qualifications and procedures which are not fully described herein. Reference
should be made to the full text of the Selebi TRS, which has been included as Exhibit 96.1 to this Report. In the event that we determine
that any modifying factors, estimates and other scientific and technical information in the report materially change, we may update or
file a new technical report in the future. The Selebi Mines is an exploration stage property.

Pursuant
to Item 1302(b)(5) of Regulation S-K (17 C.F.R. §229.1302(b)(5)), the Company states that the Selebi TRS was prepared by SLR Consulting
(Canada) Ltd (“SLR”). The qualified persons of SLR meet the qualifications specified under the definition of “qualified
person” under Item 1300 of Regulation S-K.

Property
Description and Location

The
Selebi Mines are located in Botswana approximately 150 km southeast of the city of Francistown, and 410 km northeast of the national
capital Gaborone. The Selebi Mines are readily accessed via paved and gravel roads from the town of Selebi-Phikwe, located just north
of the mining licence. With a population of approximately 52,000, the town is accessed via a well-maintained paved road that branches
due east from the major A1 highway at the town of Serule, 57 km from the Selebi Mines.

The
Selebi Mines infrastructure includes two mines, currently on care and maintenance, Selebi (#2 Shaft) and Selebi North (#4 Shaft), and
associated surface infrastructure.

-12-

Land
Tenure

The
Selebi Mines consists of a single mining licence covering an area of 11,504 hectares. The mining licence is centered approximately at
22°03’00”S and 27°47’00”E.

Mining
licence 2022/1L was granted to PNRPL on January 31, 2022, over the Selebi Mines deposits discovered under mining licence 4/72. The original
licence which had been granted to BCL Limited (“BCL”) on March 7, 1972, which covered both Selebi and Phikwe