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

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 20
---
    (Mt)  
    (% Cu)  
    (% Ni)  
    (g/t Pd)  
    (g/t Pt)  
    (000 t Cu)  
    (000 t Ni)  
    (000 oz Pd)  
    (000 oz Pt) 
  
    Inferred 
     44.2  
     0.30  
     0.24  
     0.55  
     0.12  
     132  
     108  
     775  
     174 

The
key assumptions, parameters, and methods used to estimate the mineral resources are contained in the Selkirk TRS.  Readers are cautioned not to assume that all or any part of an Inferred Mineral Resource exists or is economically or legally mineable,
or that an Inferred Mineral Resource will ever be upgraded to a higher category.

-18-

Exploration

Exploration
work completed by PREM to date has consisted of the sourcing and digitization of existing historical information, confirming collar location
information on selected historical holes, re-logging selected drill core, sampling mineralized drill core found unsampled on surface,
sampling underground drifts, and submitting a number of samples for proof-of-concept metallurgical testing. PREM has also initiated an
internal study into the feasibility of the open pit concept and is exploring conceptually with limited test information several different
processing options.

The
Selkirk MRE serves as a solid foundation for advancing the Selkirk deposit to an economic study. It was prepared using results from 232
surface and 10 underground historical drillholes drilled between 2003 and 2016, five 2016 drillholes sampled by PREM in 2021, and 17
historical drillholes resampled in 2024. Analytical results from PREM re-sampling showed higher PGE values compared to historic results
and additional resampling is expected to result in higher Pt and Pd grades and contained metal.

Further,
the Selkirk MRE was prepared under the conceptual processing scenario of producing two separate concentrates. Additional work on alternate
processing options may result in higher recoveries. Cobalt, a potentially valuable by-product, has not been included in the Selkirk MRE
as cobalt analyses are not consistently available throughout the deposit. Planned metallurgical studies will determine payability of
cobalt at the Selkirk Mine.

Exploration