Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 467

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7A
Chunk 467
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 16,021,795 
     June 21, 2029  
     1.10 
  
    42,526,857 

c)Stock
                                            Options

The
Company has a stock option plan (the “Option Plan”) providing the authority to grant options to directors, officers,
employees and consultants enabling them to acquire up to 27,100,000 Common Shares of the Company. Under the Option Plan, the exercise
price of each option shall not be less than the discounted market price on the grant date and as approved by the Board of Directors of
the Company. The options can be granted for a maximum term of ten years.

    F-25

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

The
following summarizes the option activity under the Option Plan:

SCHEDULE
OF OPTION ACTIVITY

    Year ended December 31, 

    2024  
    2023 

    Number
Outstanding  
    Weighted Average Exercise Price $  
    Number Outstanding   
    Weighted Average Exercise Price $ 
  
    Outstanding, beginning of the year 
     13,487,921  
     1.39  
     10,407,044  
     1.10 
  
    Issued 
     3,410,000  
     1.05  
     3,833,277  
     1.75 
  
    Exercised 
     (278,100) 
     (0.86) 
     (488,900) 
     (0.49)
  
    Cancelled 
     (1,033,050) 
     (2.01) 
     (263,500) 
     (2.40)
  
    Outstanding, end of the period 
     15,586,771  
     1.28  
     13,487,921  
     1.39 

The
total intrinsic value of options exercised for the year ended December 31, 2024, was $149,405 (2023 - $522,635).

During
the year ended December 31, 2024, the Company granted an aggregate of 3,410,000 stock options to employees, directors, officers and consultants
with a term