Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 32

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 32
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 follows:

  Level 1:
   Quoted prices (unadjusted) in active markets for identical
assets or liabilities; 

  Level 2:
   Inputs other than quoted prices included within Level 1
that are observable for the asset or liability, either directly or indirectly; and

  Level 3:
   One or more significant inputs used in a valuation technique
are unobservable in determining fair values of the asset or liability. 

Determination
of fair value and the resulting hierarchy requires the use of observable market data whenever available. The classification of an asset
or liability in the hierarchy is based upon the lowest level of input that is significant to the measurement of fair value.

The
carrying value of cash and cash equivalents, trade payables and accrued liabilities approximate their fair value due to their short-term
nature and therefore have been excluded from the table below. A summary of the carrying value and fair value of other financial instruments
were as follows:

SCHEDULE
OF CARRYING VALUE AND FAIR VALUE OF OTHER FINANCIAL INSTRUMENTS

    June 30, 2025  
    December 31, 2024 

    Classification  
    Carrying Value $  
    Fair Value $  
    Carrying Value $  
    Fair Value $ 
  
    DSU liability 
     Level 1  
     1,120,153  
     1,120,153  
     941,664  
     941,664 
  
    Vehicle financing 
     Level 2  
     342,711  
     342,711  
     246,137  
     246,137 
  
    Term loan 
     Level 3  
     -  
     -  
     18,983,212  
     20,862,478 
  
    NSR option liability 
     Level 2  
     2,750,000  
     2,750,000  
     2,750,000  
     2,750,000 

DSU
liability – the fair value of the DSUs is measured using the closing price of the Company’s Common Shares at the end of each
reporting period.

Vehicle
financing – the fair values approximate carrying values as the interest rates are comparable to current market rates.

Term
loan – the term loan was carried at amortized cost. The fair value