Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 285

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 285
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Cybersecurity
Risk Management and Strategy

We,
like other companies in our industry, face several cybersecurity risks in connection with our business. Our business strategy, results
of operations, and financial condition have not, to date, been materially affected by risks from cybersecurity incidents or threats.
During the reporting period, we have not, to our knowledge, experienced any material cybersecurity threats or incidents.

The
Company does not currently have processes in place for assessing, identifying or managing material risks from cybersecurity threats,
but we intend to implement a formal cybersecurity program in the future. The program will be aimed at safeguarding the confidentiality,
integrity, and availability of our essential systems and information, and will be designed to detect and mitigate risks from cybersecurity
threats to our data and our systems. Central to our future cybersecurity efforts will be a robust incident response plan designed to
address potential cyber incidents swiftly and effectively.

In
designing and evaluating our cybersecurity program, we intend to adopt the National Institute of Standards and Technology Cybersecurity
Framework (“NIST CSF 2.0”) as a guiding principle. It is important to clarify that our use of the NIST CSF 2.0 will
be for guidance purposes to frame our risk identification, assessment and management processes and will not equate to compliance with
any specific technical standards or requirements.

The
key components of our future cybersecurity program are expected to include:

    ●
    conducting
    risk assessments to pinpoint material cybersecurity threats to our critical systems, data, products, services, and overall IT infrastructure;

    ●
    a
    third-party security expert consultant overseeing the risk assessment process, maintenance of security controls, and coordination
    of responses to cybersecurity incidents;

    ●
    engagement
    with external service providers to evaluate, enhance, or support our security measures; and

    ●
    an
    incident response plan outlining specific procedures for managing cybersecurity incidents.

Cybersecurity
Governance

The
governance of cybersecurity risks will be a critical function of our Board, which will have a key role in the oversight of cybersecurity
and related technology risks. The Board will be tasked with monitoring the effectiveness of our cybersecurity risk management program,
once adopted.

-11-

The
Board will receive regular updates from management on the state of cybersecurity risks facing the Company. This includes briefings on
any significant cybersecurity incidents and ongoing cybersecurity risk management efforts.

The
responsibility for day-to-day management of cybersecurity risks lies with the Chief Financial Officer and Chief Executive Officer,