Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 54

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 54
---
 concerns and perspectives are heard and addressed.

Exploration
and Evaluation Activities

The
following table outlines the key milestones, estimated timing and costs related to each of the Mines, based on the Company’s reasonable
expectations, intended courses of action and current assumptions and judgement, with information based as of September 30, 2025.

    Key
    Milestones for Project 
     
    Expected
    Timing of Completion
     
    Anticipated
    Costs
  
    Exploration
    and Development

    Selebi
    Mines and Selkirk Mine exploration and drilling programs
     
    Ongoing,
    costs to December 31, 2025
     
    $1.9
    million to $2.5 million 
  
    Selebi
    Mines underground development
     
    Ongoing,
    costs to December 31, 2025
     
    $0.4
    million to $0.7 million 
  
    Capital
    expenditures(1)
     
    Ongoing,
    costs to December 31, 2025
     
    $0.8
    million to $1.2 million 
  
    Studies
    & Operating Costs

    Advancing
    project economics(2)
     
    Ongoing,
    costs to December 31, 2025
     
    $2.7
    million to $3.3 million
  
    Operating
    costs
     
    Ongoing,
    costs to December 31, 2025
     
    $2.8
    million to $3.4 million

Notes:

    (1)
    Includes mobile equipment purchases and refurbishments, electrical equipment, and a drill conversion kit in support of drill programs
and underground development.

    (2)
    Includes advancing project economics through further metallurgical sampling and testing, evaluation of XRT (“X-ray Transmission”)
pre-concentration sorting, and related flowsheet design.

Readers
are cautioned that the above represents the opinions, assumptions and estimates of management considered reasonable at the date the statements
are made and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual
events or results to differ materially from those described above. See “Cautionary Note Regarding Forward Looking Statements.”

Mineral
Properties

The
information that follows relating to the Selebi Mines is derived from, and in some instances is an extract from, the Selebi Technical
Report Summary entitled “S