Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 57

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 57
---

  
    Inferred 
    Selebi Main 
     18.89  
     1.69  
     0.88  
     319.2  
     165.5 

    Selebi North 
     5.83  
     0.90  
     1.07  
     52.5  
     62.4 

    Total Inferred 
     24.72  
     1.50  
     0.92  
     371.7  
     227.9 

The
key assumptions, parameters, and methods used to estimate the mineral resources are contained in the Selebi TRS. Readers are cautioned
not to assume that all or any part of Indicated Mineral Resources will ever be converted into Mineral Reserves as defined by S-K 1300.
Readers are cautioned not to assume that all or any part of an Inferred Mineral Resource exists or that, if it exists, is economically
or legally mineable, or that an Inferred Mineral Resource will ever be upgraded to a higher category.

31

Selebi
North

In
2023, an underground resource and exploration drilling program at Selebi North was initiated. The program was a combination of infill
and exploration drilling to follow the extension of the mineralization down-dip and down-plunge. The Company reported the final assays
from the 2023/2024 in-fill drill program on April 17, 2025. Supplementary infill drilling has been strategically moved into later work
programs.

In
March 2025, the Selebi North Underground Resource Expansion Drilling program commenced with one drill rig targeting Borehole Electromagnetic
(“BHEM”) plates located down-dip and down-plunge from the N3, N2, and South Limbs. Drill hole SNUG-25-184 intersected
mineralization in the South Limb 183 metres down-plunge from the Selebi Mines MRE, and in the N2 Limb 300 metres down-plunge of the MRE.
Highlights from this hole included 13.50 metres of 3.68% CuEq1 (1.13% Cu, 1.24% Ni, 0.06% Co) in the South Limb and 6.25 metres
of 2.16% CuEq1 (0.62% Cu, 0.75% Ni