Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 58

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 58
---
, 0.04% Co) in the N2 Limb. A BHEM survey completed in SNUG-25-184 revealed strong anomalies,
confirming the South Limb and N2 Limb remain open down-plunge.

Follow-up
hole SNUG-25-186 was drilled to test modeled conductors and intersected South Limb mineralization 132 metres down-plunge of SNUG-25-184.
Highlights from this hole included 16.25 metres of 3.06% CuEq1 (1.13% Cu, 0.94% Ni). As a result, South Limb mineralization
has been extended 315 metres down-plunge beyond the 2024 Selebi Mines MRE, representing an increase in the Selebi North South Limb plunge
extent by 35%.

Additional
holes have been designed to evaluate the lateral extent of the down-plunge extensions in the South Limb and N2 Limbs with the purpose
of collecting sufficient additional data to include the new mineralization in an updated MRE.

  ●
  SNUG-25-189 intersected mineralization in the South Limb and
N2 Limb with assay highlights of 4.90 metres of 4.39% CuEq1 (0.73% Cu, 1.77% Ni) in the South Limb and 19.40 metres of 3.93%
CuEq1 (1.05% Cu, 1.40 % Ni) in the N2 Limb.

  ●
  SNUG-25-194, the thickest
  interval of mineralization drilled thus far under the 2025 Selebi North Underground Resource Expansion Drilling program, intersected
  32.60 metres of continuous mineralization at South Limb, including an aggregate total of 19.90 metres of massive sulphide across five
  sub-intervals.

During
2025 and up to the date of this Report, the Company has drilled approximately 8,173 metres in 14 holes as part of the Selebi North
Underground Resource Expansion Drilling program. Assays for a total of approximately 41,189 metres across 91 completed holes at
Selebi North have not been accounted for in the 2024 Selebi Mines MRE. All core is sampled and sent to ALS Chemex in Johannesburg
for analysis. All holes are surveyed with a gyro instrument and selected holes are surveyed with BHEM geophysical tools.

Sele