Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 144

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 144
---
 Offset Dyke Structure which hosts the past–producing Whistle Offset and Podolsky
Cu-Ni-PGM mines. Post Creek lies along an interpreted northeast extension of the corridor containing the Whistle Offset Dyke and Footwall
deposits and accounts for a significant portion of all ore mined in the Sudbury nickel district and, as such, represents favourable exploration
targets. Key lithologies are Quartz Diorite and metabreccia related to offset dykes and Sudbury Breccia associated with Footwall rocks
of the Sudbury Igneous Complex which both represent potential controls on mineralization.

No
exploration work was completed in the first three quarters of 2025 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