Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 332

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 332
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 (“Common
Shares”) are listed and posted for trading on the TSX Venture Exchange (the “TSXV”) under the symbol
“PREM”. Prior to November 20, 2024, the Company traded on the TSXV under its previous name and symbol, Premium Nickel
Resources Ltd. and PNRL, respectively. In addition, the Common Shares are currently quoted on the OTC Pink Open Market under the
symbol “PRMLF”.

The
following corporate structure chart sets out details of the direct and indirect ownership of the principal subsidiaries of the Company:

Notes:

  (1)
  Premium Nickel Group Proprietary
  Limited owns the Selkirk Assets (as defined below).

  (2)
  Premium Nickel Resources
  Proprietary Limited owns the Selebi Assets (as defined below).

The
Company’s head and registered office is located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario,
Canada M5X 1A4.

The
principal assets of the Company are the Selebi and Selebi North nickel-copper-cobalt (“Ni-Cu-Co”) mines in Botswana
and related infrastructure (together, the “Selebi Mines”), as well as the nickel, copper, cobalt, platinum-group elements
(“Ni-Cu-Co-PGE”) Selkirk mine in Botswana, together with associated infrastructure and four surrounding prospecting
licences (collectively, the “Selkirk Mine” and together with the Selebi Mines, the “Mines”).

Going
Concern

The
Company, being in the exploration stage, is subject to risks and challenges similar to companies in a comparable stage of exploration
and development. These risks include the challenges of securing adequate capital for exploration and advancement of the Company’s
material projects, operational risks inherent in the mining industry, and global economic and metal price volatility, and there is no
assurance management will be successful in its endeavors.

    F-8

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

These
consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it
will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary
course of operations. The ability of the Company to continue operations as a going concern is ultimately